 TITLE: Step-by-Step Checklist to Opening an IRA CONTENT: Choose an IRA Provider\n----------------------\nYou can open an IRA with many types of financial institutions, including banks, credit unions, investment brokerages and mutual fund providers. Providers generally offer three options:\n*   **Self-managed**: You select and manage your own investments. These funds are best for sophisticated investors and typically charge lower fees.\n*   **Automated \"robo-advisor\"**: You choose from a menu of portfolios (or answer a questionnaire) tailored for different risk tolerances, life stages and goals, and the robo-advisor uses that information to create and manage your investments. The automated digital platform is based on complex algorithms and requires little, if any, human interaction. These funds typically charge lower fees and are a good choice if you don't want to manage your own IRA but also don't want to pay for professional management.\n*   **Professionally managed**: A dedicated portfolio manager selects and manages investments for you based on your risk tolerance, age and goals. These funds charge higher fees and are good for high-net-worth investors, investors with complex financial holdings or those seeking personalized advice.\n### Questions to Ask IRA Providers\n*   **What are the fees?**\n    *   Fees to open and manage the account\n    *   Per-transaction or per-trade fees\n    *   Fees for customer service calls\n*   **Is there a minimum initial investment?**\n*   **Are you required to maintain a certain minimum balance?**\n*   **How is customer service provided (phone, chat, email)?**\n    *   What hours is customer service offered and how quickly can you expect a response?\n    *   Will your questions be answered by a dedicated advisor or by various customer service agents?\n*   **What are the firm's credentials and qualifications?** Visit the Securities and Exchange Commission for guidance on investigating a firm or advisor. END