The QI File

Qualified Intermediary

Granite Exchange

Granite Exchange Services · Parent: Independent / unpublished · Firm website

FEA membership
FEA member
CES® holders
Justin Swift, CES®
Fidelity bond
$1,000,000 fidelity bond
E&O / other cover
up to $5,000,000 errors and omissions
How funds are held
Segregated
Dual-signature wires
Dual-signature
Reverse / improvement / DST
Reverse Yes · Improvement Yes · DST Yes
Last sourced
2026-09-08

Other published coverage

Fund-security page: FDIC-member institutions; coverage per depositor, per institution, per ownership category. Specific bank disclosed at account opening. Qualified escrow / qualified trust with taxpayer signature available on request.

Fund handling

Fund-security page: one dedicated account per exchange, opened solely in the name of the exchange; never deposited into a pooled QI operating account or combined with another client’s exchange. Never commingled with Granite operating capital. Dual authorization on every outgoing wire — two people must independently approve; no single individual can release proceeds. Optional qualified escrow or qualified trust: taxpayer written authorization required alongside Granite’s before funds move.

Fee structure

How-to-choose page: flat fees disclosed upfront; no percentage-based surprise charges. No public dollar card.

Who keeps the float

Fund-security FAQ and homepage: interest earned in the dedicated exchange account is credited to the exchange (applied to the replacement acquisition or returned at close), not kept as hidden margin.

Who it is for

Independent Granite Bay, California QI (5925 Granite Lake Dr., Suite 150, Granite Bay, CA 95746; 800-899-6959). About: founded 2000; delayed, reverse, and construction exchanges. Firm pages also publish DST-as-replacement QI work. An LLC / Inc. suffix is not printed on the pages cited. Confirm the named party on the exchange agreement.

Verdict

Source-rich independent file: company FEA on the About page, named CES® principal Justin Swift, TIN-style segregation in the exchange’s name, published two-person wire control, $1M fidelity / up-to-$5M E&O, and interest credited to the client. Dual-control here is internal two-person approval; taxpayer-signature QEA/QTA is optional, on request. Volume claims ($1B+, 20,000+ exchanges) are firm marketing, not a rating. DST is QI facilitation of replacement interests — not a securities offering and not a DST sponsor. Ask for today’s certificate, the live account title, and the current depository name before a large wire.

Notes

This is a QI custody file, not a securities offering. The public name is Granite Exchange Services. An LLC or Inc. suffix is not printed on the pages cited and is not invented here.

About states the company is a member of the Federation of Exchange Accommodators. That is the company-membership source. CES® is also described as awarded by FEA; that is a people credential. Justin Swift, CES® is named as Principal on the firm’s DST page. Other counselors are marketed as CES®-certified without individual names and are not added here.

Homepage and About market reverse and construction / improvement exchanges. About’s 2004 timeline and the DST explainer describe QI work when a taxpayer uses DST interests as replacement property. That is not a finding that Granite sponsors DST offerings. Do not treat this file as a DST term sheet.

Contact-page process copy says proceeds go into a segregated FDIC-insured “exchange trust account held by GES.” The dedicated fund-security page is more specific (account titled to the exchange). Confirm the live title and TIN with the engagement papers.

Sources

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Corrections and verification

Listings are sourced from public pages. Unknown is omitted, not graded. If a fact is wrong or stale, send the primary URL.

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