Equity Trust Company Review
There are many Gold IRA Companies preaching to people as the best Gold IRA Company out there to invest with. However, our review team have done detailed research on many of the Gold IRA companies to help save your time and more importantly safeguard your hard earn retirement savings from been ripped off.
Our Gold IRA reviews will be based on data from sites like The Better Business Bureau (BBB), The Business Consumer Alliance (BCA), Trustlink, Complaints Board, and Ripoff Report where these companies may have a low number of customer complaints or Zero complaints and high ratings.
Important: We highly suggest you visit the links given in this review to read customers experience before making a move to invest.
Equity Trust Company Review
Founded in 1974 as originally a federally regulated securities brokerage. In 1983, the company developed an investment plan that allowed its clients to put their IRA funds in real estate investments.
It was acknowledged for its pioneering work in the field of real estate IRAs which led to the formal establishment of the company in 2001.
In 2009, it acquired all assets of another financial institution, Sterling Trust. It became a subdivision of Equity Trust Company and was renamed Equity Institutional.
Equity Trust Products & Services
Below is a list of products and services that the company offers to their customers.
- Self directed IRA’s
- Real Estate IRA’s
Equity Trust Ratings and Complaints
Better Business Bureau (BBB)
69 complaints closed with BBB in last 3 years | 22 closed in last 12 months
Below are some of the complaints from unhappy clients;
Equity trust first of all issued my 1099 in March of 2017. Legally they are suppose to issue it in February at the latest. After calling them numerous times all I got from the customer service reps is “THEY ARE WORKING ON IT”. So finally I received my 1099 and it was totally wrong. My 1099 was in… the amount of almost $9000.00, where the correct amount is suppose to be $115.00. After speaking with the rep, I emailed all the necessary documents to correct my 1099, but all I get from the reps is it takes almost 6 weeks to fix the issue. My taxes are due in April. First the 1099 were not mailed on time by the company and after mailing them, they do not take any responsibility to fix the issue in time. This is a horrible company! THEY SHOULD BE NOT BE IN THE BUSINESS OF CUSTODIAN. I Paid them over $700 to manage my money and there is no customer service.
ETC STOLE $100 from our accounts for purportedly failing to send them copies of our 990-T tax returns for 2015. We did send them our returns and they admitted receiving them, but refused to refund the money they stole from our accounts. This is a company that has you entrust your money with them,… then steals from you and there is no one you can talk to to get your money back.
I have an account with the Equity Trust Company (https://www.trustetc.com/) and have over $100,000 on deposit there. I requested my funds be transferred to another IRA custodian (TD **********) on November 23, 2016. Equity Trust contacted me and told me it would take 3 weeks to transfer the… funds. Last Friday, I called to follow up on the status of the transfer, and I was told it would STILL be 3 to 5 weeks to complete the transfer. Please note that I was originally told 3 weeks…now it’s 5 weeks. Today, I received a call from a woman named Joellen. She told me the same story…3 to 5 weeks. I asked her for her full contact information. She refused to give me anything but her first name. I asked for the name of her superior so that I could speak to him or her since she was uncooperative. She refused.
To read more, do visit the BBB link above to read more complaints
7 reviews in the last 3 years of which none of them got 5 star
One of the complaint is just unpleasant. Here it goes..
|Ripped Off By This Company DO NOT USE!!|
|This company stole my life savings and claim they have no responsibility. DO NOT use them! Now, they send me threatening letters stating that if I don’t give them annual dues for my “non-existent” coin storage, they will give my money back and report it to the IRS as an early distribution. BRING IT ON FUCKERS! SEND ME A BOGUS CHECK!|
1 complaints in the last 3 years
We would like you to read the communication that transpired between the client and company representative.
Client: I sent this message to Equity Institutional on Jan 14th:
I requested a full payout and closed account on Dec 11th. It is now over 30 days later and I still have not received my money. How long are you going to keep my money? Your service is POOR. You should pay me LATE FEES.
ETC: I received the following reply:
Please note that anytime you are transferring your account out to another custodian this can take 30 business days, not including any holidays or weekends. This transfer is still in processing and in good order. I do apologize for any inconvenience this may have caused.
Clients comments after ETC responded
It is now Jan 21st and I still have not received my money. I spoke to the call center agent and all he could do was sympahize with me. I asked who regulates Equity Institutional. The IRS. Hmmm. I felt it more prudent to lodge my complaint for poor service here online, where others can see it and make their IRA custodian decision accordingly.
Equity Institutional was able to process the sale of my precious metals in 2 days. Why does it take them 6 weeks to process my transfer request?
To be sincerely with you, even though they got some praises from some clients on BBB but the complaints are too much to match up with the praises.
Which Company Do We Recommend?
We only recommend regal assets as one of the Top Trustworthy Gold IRA Company in this Industry.
Regal Assets became the most successful Gold IRA firm in United States after 7 years in business with recognition from the likes of Forbes, Smart Money, the Huffington Post and many others. The company was also ranked #20 in the U.S. by the famous INC 500 in the financial services category.
Inc 500 Magazine recently ranked Regal Assets number 20 out of 6 million Financial Service Providers.
Regal Assets Reputation and Ratings
No complaints with BBB since March 10, 2013. Regal Assets earns the top score with an A+ rating.
Regal Assets is a company that takes pride in delivering the best customer experience as possible. They walk you through each and every step of the rollover process, ready to answer ANY questions you have and being completely transparent and upfront. The customer comes first. They take the time to educate you on precious metals after all it is YOUR retirement money. When you get in touch with a representative, you will always communicate with the same one from that time forward.
- One of The Fastest Shipping Processes – Regal Assets guarantee a 7-business day delivery of your precious metals. If they miss the deadline you get a free 1 oz. Silver American Eagle coin.
- Industry Leading Storage and Fee Structure – All of their storage is segregated – they use Brinks. That way your precious metals are not mixed with other account holders. They have a flat fee of $150/year (first year waived) while other companies charge $225/year and don’t offer segregated storage. Some companies charge more for comingled storage than Regal Assets does for segregated.
- Flat Fees vs. Scaling Fees from Competitors – Regal Assets’ administration fees for the year on all retirement accounts are a flat $100.00.
- They Will Pay First Year Dues For New Retirement Accounts – This includes the setup fee, administration fee, storage fees and the delivery of metals. This alone is a saving of at least $500, which most competitors charge you for.
- Industry Leading Processing Time – One of the few – if not the only one – that does everything electronically. This means that the client can sign everything electronically and does not have to hand sign any documents. When transferring the requested funds from a custodian – it typically gets done in less than 48h business hours.
Still have any questions? Let Regal Assets give you clarity and earn your trust.
Visit their official website: http://www.RegalAssets.com
or request Free investor kit by clicking the image below!