Get SEP-IRA account information from trusted banks providing these accounts

SEP-IRA accounts are available through various FDIC insured banks throughout the country. Most banks provide these accounts to small business owners and self-employed individuals for a low cost.

I recommend: Start Simplified Employee Pensions through trusted and well-known banks such as Wells Fargo, which offers a range of accounts with commissions and fees based on the type of account. Comerica Securities offers professionals to manage portfolios to maintain profitability of these accounts for the business.

Work with SEP-IRAs from financial institutions not charging costly fees

Simplified Employee Pension IRAs offered by any bank or financial institution will charge fees. Some charge lower fees, while providing the same services. Gather information on commissions, fees and other account set-up charges.

I recommend: Set up simplified employee pension accounts. Fidelity Investments offers a no-fee SEP IRA with no load Fidelity mutual funds and no annual maintenance fees. Bank of America Investment Services offers a no-fee IRA that has no custodial and maintenance fees.

Consider information about SEP-IRAs set up and management methods

Many financial institutions allow online SEP-IRA account set up and management of accounts. This allows employees and employers to manage account activity, monitor profits and losses and use their accounts more effectively.

I recommend: Compare information on management and use of SEP-IRA accounts. Ameritrade offers easy online account opening and management, including its WealthRuler and Portfolio Guidance tools and services. Apply for an account on line through Wachovia Securities Services, and use its online services to manage your account.