Regulation and Oversight

Midland welcomes the opportunity to answer any questions you may have about our company and the safety and security of your account with us. The existing organization was actually started in 1974 as an accounting firm on Sanibel Island and has developed into a mid-market company specializing in self-directed IRA administration and 1031 exchange facilitation.

Since 2002, the Midland IRA team has been dedicated to providing the highest level of service in the industry. Our regional offices are staffed with well-trained IRA professionals, many who have been awarded the designation of Certified IRA Services Professional (CISP) by the American Banking Association’s Institute of Certified Bankers.

Additionally, our 1031 team has been facilitating exchanges since 1997. We are a member of the Federation of Exchange Accommodators, and we are also a qualified intermediary with staff who are Certified Exchange Specialists® who can expertly facilitate 1031 exchanges.

Regulatory Oversight

Mainstar Trust, previously known as First Trust Company of Onaga, serves as the custodian for Midland accounts (including all IRAs, HSAs, and Coverdell ESAs, but excluding all qualified plans such as individual 401(k) plans). Based out of Onaga, Kansas, Mainstar has been a trusted custodian for over 30 years with custody of over 130,000 accounts holding approximately $7.5 billion in assets. Mainstar is a limited purpose trust company regulated by the Office of the State Bank Commissioner of Kansas (OSBC). All relevant Midland records and transactions, as well as policies and procedures, are subject to examination and approval by Mainstar and the OSBC.

Client Cash

All undirected (uninvested) cash in Midland IRA accounts is deposited in FDIC-insured banks providing insurance of up to $250,000 per account holder. Client undirected cash is reconciled daily, reviewed by FTCO and available to OSBC upon request.

Midland uses various national and state banks for all day-to-day cash transactions related to account holder requests. Transactions may include: Accepting deposits and/or disbursing funds by check, ACH, or wire transfer. The main banking relationships include Stonegate Bank, MB Financial, and Sanibel Captiva Community Bank.

Alternative investments made into real estate, promissory notes, private equity, and other non-traditional investments are not insured against loss in value by the Federal Deposit Insurance Corporation (FDIC).