First, it is important to understand that there is no difference between self-directed IRA custodian and IRA custodian. These are words that are used as synonyms to mean the same thing. A company might decide to use any of the words to mean the same thing. What every interested person needs to understand is that all IRA accounts are always self-directed since the account holders have so much influence over them. Following the guidance of a professional, they have the option of choosing the best investment that is best fitting their financial capacity.
Gold IRA custodians are the institutions charged with the task of holding all IRA assets from interested individuals. This is a mandate given to them by the International Revenue Code. IRA custodians have two areas of specialization: there are those who majorly deal with publicly traded securities. They are very popular due to the wide market they have since so many people invest in mutual funds and stocks. The second area of specialization is alternative investments. Such IRA custodians are often less popular since they never deal with a wider population: There are very few people who opt to direct their IRA towards alternative investments. To have a larger share of the market, most gold IRA custodians provide the two services.