Hi Alex,
Your messages always contain very useful information.
May I get some additional clarification please? In your message below, was the Chicago based trustee that failed due to fraud an outside trustee?
And were the clients generally protected up to the SIPC limits?
Thanks,
Bill W
On Tue, Jun 30, 2009, Jacobson, Alex <ajacobson@ise.com > wrote:
..... Some years back a Chicago based trustee that allowed futures in IRAs actually failed due to fraud - not the strategies just simple fraud. It is not uncommon that the restriction comes from the trustee. Is on outside trustee better or worse - who knows we could debate forever. Many argue that if your IRA exceeds SIPC protection an outside trustee could be a good idea....
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