Fiduciary Standards · Reg BI · June 2026
An independent fiduciary advisor for an inherited IRA is usually a fee-only registered investment adviser (RIA) who legally puts your interests first. But for inherited IRAs, the bigger issue is often whether the person truly understands the IRS beneficiary rules, the applicable distribution timeline, and the fees tied to any Gold IRA setup — not just their title.
"Fiduciary" is not just a marketing word. It should mean the person is legally required to put your interests first in the advice they give you. For an inherited IRA, that matters because the wrong recommendation can create tax problems, missed deadlines, or higher fees.
Not every professional who helps with IRAs is held to the same standard. A broker-dealer representative may be acting under Regulation Best Interest (Reg BI), which requires recommendations to be in the customer's best interest, while a fee-only RIA generally operates under the fiduciary framework of the Investment Advisers Act.
Before hiring anyone, ask:
If the answers are vague, that is a warning sign.
Be cautious if the adviser:
A real fiduciary-style conversation should begin with your rules, your timeline, and your costs — not with a product pitch.
Inherited IRAs are time-sensitive because the IRS rules depend on who inherited the account. That means your beneficiary category matters before you decide anything else.
Under IRS rules summarized in Publication 590-B, an eligible designated beneficiary (EDB) generally includes certain categories such as a surviving spouse, a minor child, a disabled individual, a chronically ill individual, and certain beneficiaries who are not more than 10 years younger than the IRA owner, subject to the IRS definitions. That age gap matters more than many people expect.
For most non-eligible designated beneficiaries, an inherited IRA generally must be distributed under the 10-year rule — meaning it must be fully distributed by the end of the 10th year after the year of death. That does not mean every year has the same distribution requirement. It means the account must be fully distributed by that deadline unless a different rule applies to your facts.
When RMDs apply, the calculation generally uses the prior year's December 31 balance and a life expectancy factor from IRS tables in Publication 590-B. A knowledgeable advisor should be able to explain not just "take money out," but which rule applies, when, and how the amount is calculated.
The IRS issued Notice 2024-35 to provide relief for certain 2024 required minimum distribution failures. Relief depends on meeting the specific conditions in the notice, and readers should not assume it covers all missed inherited IRA distributions. The guidance also notes that certain final regulations would apply for calendar years beginning on or after January 1, 2025.
That does not mean blanket forgiveness for every missed inherited IRA distribution. It means you need to check your facts carefully and not assume a one-size-fits-all fix. This is one reason a true advisor for inherited IRAs needs to know IRS guidance cold — not just market trends.
In a Gold IRA, the advice is rarely just about "buy gold." You are usually dealing with an IRA custodian, a precious-metals dealer, a depository for storage, and account administration and paperwork. That creates more opportunities for hidden costs and conflicts.
The costs can include:
If nobody gives you a written breakdown, you may not know what you're actually paying. A good advisor should be able to help you compare the inherited IRA distribution timeline, the custodian's fees, the storage arrangement, the dealer's pricing, and any conflicts tied to recommendations.
For Gold IRA planning, do not rely on a sales summary or a web page with broad claims. Ask for the full written fee schedule from the custodian.
As one published example, as accessed on 2026-06-13, STRATA Trust Company's fee schedule page lists:
These are only examples from one custodian, and fee schedules can change. The point is that you should insist on exact, written numbers before committing to any inherited IRA or Gold IRA arrangement.
Ask every custodian about annual account fee, storage fee, transaction fee, wire fee, account closing fee, tax reporting or correction fees, and whether fees change by asset type or storage tier.
Many people assume all IRA help is "fiduciary" help. That is not always true. Under SEC guidance, broker-dealer recommendations — including some rollover and transfer recommendations — are subject to Regulation Best Interest. RIAs are generally subject to fiduciary duties under the Advisers Act framework, but the exact obligations can depend on the advisor, firm, and the specific recommendation.
If someone recommends moving an inherited IRA into a new account, the recommendation may be shaped by compensation, platform access, product availability, account minimums, or custodial relationships. That does not automatically mean bad intent. It does mean you should ask how they are paid and what standards govern the recommendation.
Be careful if the adviser:
A license or certification is not enough. For inherited IRAs, competence should show up in the details. A credible advisor should be able to: identify whether you are an EDB, explain whether the 10-year rule applies, describe how inherited IRA RMDs work, explain how processing timelines and paperwork can affect distribution timing, provide a written fee comparison, and explain who is compensated if gold is involved.
Ask for a simple written outline showing your beneficiary category, your distribution deadline, the recommended account structure, all current fees involved, and any conflicts of interest. If they can't provide that without jargon, keep looking.
If you inherited an IRA recently, the first month is about information gathering, not rushing into a product decision.
Collect: date of death, your relationship to the original owner, current custodian statements, account type, and beneficiary designation documents.
Use IRS guidance to determine whether you are a surviving spouse, a minor child, disabled or chronically ill, within the "not more than 10 years younger" category, or a non-EDB beneficiary.
Now request the advisor's registration and compensation documents, a written distribution timeline, the custodian fee schedule, and storage and dealer pricing if gold is being considered. That sequence helps prevent expensive mistakes.
The best way to compare an inherited IRA advisor is to compare what they can prove, not what they say.
Score each adviser on:
You do not need the flashiest pitch. You need the clearest answer.
No. Some recommendations are made under Regulation Best Interest (Reg BI) rather than a full fiduciary duty. You need to verify the person's registration and compensation model. An RIA generally operates under the fiduciary framework of the Investment Advisers Act; a broker-dealer representative may be subject to Reg BI for recommendations.
You can verify an investment adviser's registration using the SEC's IAPD tool and a broker-dealer's registration using FINRA's CRD. Review the corresponding Form ADV for RIAs, which discloses services, fees, and conflicts of interest.
The IRS issued Notice 2024-35 to provide relief for certain 2024 required minimum distribution failures. Relief depends on meeting the specific conditions in the notice, and readers should not assume it covers all missed inherited IRA distributions. Certain final regulations apply for calendar years beginning on or after January 1, 2025.
Ask for: annual account fee, storage fee, transaction fee, wire fee, account closing fee, tax reporting or correction fees, and whether fees change by asset type or storage tier. As one published example, STRATA Trust Company's fee schedule (accessed 2026-06-13) lists an Annual Account Fee of $150 (Basic) or $350 (Flex). Always confirm current fees in writing.
Under IRS rules, a beneficiary who is not more than 10 years younger than the IRA owner may qualify as an eligible designated beneficiary (EDB). Different distribution timelines and RMD structures generally apply based on whether you are an EDB. This age gap matters more than many people expect.