Equity Trust Company IRA Review

Equity Trust Company IRA
Equity Trust Company IRA - by, April 1, 2011
4/ 5stars
on
Equity Trust Company IRA
  • Editor Rating
  • Very Good
Review Summary :

Equity Trust Company has been serving IRA investors since 1974. Find out what this custodian has to offer. The organization boasts quite a reputation developed over the last 45+ years and a wide range of services. It’s a good bet even without a live customer support option available to investors.

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Pros:

  • Long-standing reputation
  • Wide range of services
  • Competitive fees

Cons:

  • No live chat customer service
Quick Facts about Equity Trust Company IRA
Year Founded:1974
Location:Cleveland, Ohio
Annual Fees:$205
Offers 401(k)?:Yes
Offers Roth IRA?:Yes
Crypto Offered?:No
Reviewed By:Jack Choros
Published On:April 4, 2020
Last Modified:May 25, 2020
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Equity Trust Company markets itself as “an industry-leading custodian of alternatives”. They claim that their track record of services unmatched across the IRA industry and that they offer optimized solution, and services.

They boast on their about us page that the company is the number one IRA provider in the country for those interested in investing in real estate. They don’t make any statistical claims to back that up, but frankly, a lot of IRA companies focus on their real estate offerings as it seems they understand many retirement planners looking for smaller IRAs that offer self-directed options are focused on investing in both residential and commercial real estate.

Truth be told, Equity Trust Company offers all kinds of different account types, like many of the larger IRA providers. They also offer all kinds of investments that would be considered alternatives to traditional stocks, mutual funds or bonds.

In this deep dive review, we will explore them all. Although the company caters to a very specific type of investor like many self-directed IRA companies, Equity Trust Company is no small fish. It’s one of the few self-directed IRA organizations that can compete with the big boys.

After reading this review, you’ll understand why.

The Management Team of Equity Trust Company IRA

Richard Desich, Founder and Chairman of the Board

Richard Desich Sr, Co-Founder, Equity Trust Company

Richard Desich is the Founder and Chairman of the Board of Equity Trust Company. He founded what is now known as Equity Trust Company in 1974. Today, Richard has amassed more than 40 years of experience recommending securities and is nationally recognized as a thought leader in the world of residential and commercial real estate. He is the author of a book related to self-directed IRAs and alternative investing. Richard volunteers on numerous nonprofit boards and has spoken to thousands of people about investing throughout his career.

Richard Desich Jr., Co-Founder

Richard’s brother Jeffrey and his son, Richard Desich Jr., serve as Executive Chair and Co-Founder of Equity Trust Company respectively. Jeffery is committed to spending his entire career in finance and helped Equity Trust Company work through a number of acquisitions and organic growth strategies. He was previously the CEO of Equity Trust Company.

Richard Desich Jr., Co-Founder, Equity Trust Company

Richard Desich Jr. on the other hand has previously served as the Chief Information Officer at the company. He’s also been the Director of Risk Mitigation and Compliance. He travels across the United States educating investors about IRAs and actively invest in real estate himself.

The highest ranking executive at Equity Trust Company that doesn’t share the Desich name is CEO George Sullivan. Sullivan brings more than 30 years of experience in finance to the team. He has lots of experience guiding executive teams in terms of strategic planning, global sales, client services and real estate funded ministration.

Looking at this executive team it’s easy to see why Equity Trust Company is one of the leading self-directed IRA companies in the United States.
Equity Trust Company IRA and Investing Account Types

Equity Trust Company offers accounts for individuals, companies and institutional investors. Since these reviews are focused on self-directed IRAs, we’ll stick to that.

Here are the self-directed account types offered by Equity Trust Company:

  • Traditional IRA
  • Roth IRA
  • Health Spending Accounts
  • Coverdell Education Savings Account

While only a few other IRA providers also provide Health Spending Accounts and Education Savings Accounts, these reviews are focused only on IRAs so we won’t cover those other accounts here.

Traditional IRAs at Equity Trust Company

A Traditional IRA allows investors to contribute until the age of 70 ½, although they can start taking out money at the age of 59 ½. The advantage to using a Traditional IRA is that contributions are tax-deductible and the interest earned in the account’s tax-deferred. The exact makeup of the IRA depends on the asset mix the investor chooses.

Roth IRAs at Equity Trust Company

A Roth IRA is for investors who are likely to retire with a high net worth. Contributions to a Roth IRA are not tax-deductible, but the investor doesn’t pay income tax upon withdrawals. If you think your income tax will be higher after you retire than most people, this is the right IRA for you. Again the exact makeup of your Roth IRA depends on the asset mix you choose.

Equity Trust Company IRA Fees

Unlike other IRA providers which may only offer some basic details about fees on their website, Equity Trust Company is very upfront about its fee schedule. The whole thing is available on the company website (and in the chart below). They start off with a basic account setup fee of $50 for investors who do it online and $75 for investors who complete the setup on paper.

Equity Trust Company’s annual fees are all based on account values. While some other IRA providers, like CamaPlan, also allow investors to pay fees based on the number of assets owned within an account, Equity Trust Company only assesses fees based on account value. This is good for those that have IRA accounts that are just getting started and maintain a low balance, but it can get fairly expensive for those with substantial net worth.

The lowest standard annual fee is for account holders with less than $15,000 in their IRA. That fee is $205 annually. Annual fees are always charged in the first fiscal quarter of every year. At the higher range of Equity Trust Company’s fees, retirees with more than $2 million in their account will pay an annual fee of $2,150.

That’s a fee of just over 0.1% on the account value. That’s definitely reasonable in comparison to mutual fund companies and what mutual fund managers will make on a portfolio, but many investors may find it’s better to pay a set fee based on the number of assets regardless of what the account is actually worth.

Those that feel strongly about that may not want to choose Equity Trust Company as their IRA provider simply because they don’t offer such an option.

See the entire fee schedule below:

Portfolio Value Standard Fee
$1-14,999 $205.00
$15,000-24,999 $290.00
$25,000-49,999 $330.00
$50,000-99,999 $400.00
$100,000-199,999 $480.00
$200,000-299,999 $660.00
$300,000-399,999 $710.00
$400,000-499,999 $1,025.00
$500,000-599,999 $1,680.00
$600,000-699,999 $1,785.00
$700,000-799,999 $1,890.00
$800,000-899,999 $1,945.00
$900,000-999,999 $1,995.00
$1,000,000-1,999,999 $2,050.00
Over $2,000,000 $2,150.00
Account Set-up Fee:
Online Application
Paper Application
$50.00
$75.00

 

Customer Service and Support at Equity Trust Company

Equity Trust Company services both individuals and institutional investors. They offer separate customer service departments for both. Retail investors can contact Equity Trust Company from Monday to Friday until 6 PM Eastern time at 1-855-265-4472. They can also reach out via email at newaccountsetc@trustetc.com.

Investors can also leave a message online and have an account executive contact them at a time that’s convenient. Although that’s not quite as instant as a live chat option, it’s good enough so we will give Equity Trust Company a passing grade when it comes to customer service. What really matters at the end of the day is what customers actually think about Equity Trust Company.

Equity Trust Company Customer Reviews

Equity Trust Company offers an impressive 426 reviews on TrustPilot.com with a 4.5 out of five star rating. That is a very good rating considering the volume of reviews the company gets. The company is not officially registered with the Better Business Bureau, but they do receive complaints on the Cleveland chapter of the website, which Equity Trust Company does respond to. Most of the complaints related to the way fees are administered based on the value of accounts and the sale of assets. They are usually handled swiftly and not uncommon in the IRA world.

In general considering the volume of customers Equity Trust Company probably has, the number of complaints is minimal.

Frequently Asked Questions about Equity Trust Company IRA

Below are some of the most frequently asked questions people have about Equity Trust Company.

Where is Equity Trust Company Headquarters?

Equity Trust Company’s head office is located in Westlake, Ohio at 1 Equity Way.

What is an Equity Trust Company IRA?

An Equity Trust Company IRA is a self-directed account that allows retirement planners to invest in their future and ultimately control what kind of investments they choose. Investments are not limited to just stocks, bonds, and mutual funds. Investors can choose to invest in real estate, precious metals, tax liens, mortgages and all kinds of alternative investments.

What Can I Invest in with an Equity Trust Company IRA?

Here’s a complete list:

  • Stocks, ETFs, bonds and mutual funds
  • Promissory notes and private lending deals
  • Residential real estate
  • Land
  • Cryptocurrency
  • Tax certificates
  • Private loans and notes
  • Forex markets
  • Private equity and more…

What types of retirement accounts can be moved into an Equity Trust Company IRA?

  • Traditional IRA
  • Roth IRA
  • Health Spending Accounts
  • Coverdell Education Savings Accounts

How Can I Get Gold or Silver in my Possession with Equity Trust Company?

Investors using Equity Trust Company as their custodian are not allowed to hold precious metals in their homes that are connected to their IRA. The IRS stipulates that a third-party custodian with bondable security must hold onto it. The only way to get around this is to use a limited liability corporation and claim the assets as part of the corporation. Most investors won’t do that, but it is a way to ensure that you can keep precious metals in your home.

Should You Choose Equity Trust Company IRA for your Self-Directed IRA?

Given Equity Trust Company’s track record of success, it’s one of the clear winners in the self-directed IRA sector of investing. They offer a slew of different account types, many different forms of alternative investment, a family legacy on their executive board that really cares about the future of its clients, and lots of experience to back up any inquiries that new prospects may have when they first register for an IRA with Equity Trust Company.

What’s really impressive about Equity Trust Company is that the company has collected a large number of customer reviews and testimonials over the years. That speaks volumes of how they treat their clients, and that’s what clients should look at more than anything else. Especially because the number of reviews they have collected ranges in the hundreds.

Equity Trust Company is a great choice for retirement investors who want to work with a family owned, professional organization that has a proven track record of successfully planning the retirement dreams of its investors.

Equity Trust Company IRA
Equity Trust Company IRA - by, April 1, 2011
4/ 5stars
on
Equity Trust Company IRA
  • Editor Rating
  • Very Good
Review Summary :

Equity Trust Company has been serving IRA investors since 1974. Find out what this custodian has to offer. The organization boasts quite a reputation developed over the last 45+ years and a wide range of services. It’s a good bet even without a live customer support option available to investors.

Get Info Kit Now
Have you purchased products from Equity Trust Company IRA? Leave a review!

Leave your rating

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