Great Topic @heavilyarmedclown! Thanks for interviewing Jeff.
Some things: Jeff said it correct…“You must be the 'M-A-N-A-G-E-R” of the LLC (not just a ‘Member’)
In 2017, I hired BroadFinancial to do it and they made MadisonTrust (thier prefrered vendor) the Manager and me a Member.
This might sound minor, but, the Manager can terminate it’s members. The Manager can legally dictate where the funds go. Even if you hide them, and audit will uncover them and it’s theft if you stole the funds from the LLC and they can legally force you to pay the amount back.
In short, you can be legally screwed out of your funds.
I think more people like Jeff Vandrew should speak up and show folks how to do this legally and properly.
Jeff - I’m a software/automation guy…I would gladly help you find a better way to replicate your effort and get this out to more people and shut down places like BroadFinancial and BitcoinIRA
In My Opinion DO NOT USE BroadFinancial & BitcoinIRA
PS. I’m not a novice…I’ve been in finance since 1997 and worked at a multitude of Investment firms, banks and tax companies.