Horizon Bank of Austin, Texas, has had early success with a unit aimed at helping investors rollover retirement assets into an individual retirement account, but analysts say that the success could be short-lived.
Self Directed IRA Services Inc. attracted more than $100 million of alternative and traditional assets under custody during its first full year of existence in 2009 while administering self-directed individual retirement accounts for individuals and small businesses. The growth has enabled the Austin-based unit to open a second office in Waco, Texas, and launch a Web site.
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