Kingdom Trust Company IRA Review

Kingdom Trust Company IRA Review
Kingdom Trust Company IRA Review - by, April 1, 2011
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Kingdom Trust Company IRA Review
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Review Summary :

With over $12 billion in assets under management since 2009, Kingdom Trust Company is one of America’s most respected IRA companies. The company prides itself on being very transparent with fees and offers tons of educational resources for new investors. Find out what makes it one of the best IRA providers around.

 

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Pros:

  • Great customer support
  • Robust educational resources
  • Transparent with fees

Cons:

  • Mid-range level fees
  • Very little paper trail
Quick Facts about Kingdom Trust Company IRA
Year Founded:2009
Location:Murray, Kentucky
Annual Fees:$195
Offers 401(k)?:Yes
Offers Roth IRA?:Yes
Crypto Offered?:Yes
Reviewed By:Jack Choros
Published On:May 12, 2020
Last Modified:May 29, 2020
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Kingdom Trust Company is one of the larger self-directed IRA providers in America’s investing sector. It’s not on same level as the discount brokerage but specifically in the retirement planning category, the company maintains a great reputation. The executive team is larger than most other competitors. The organization is an independent qualified custodian and public trust company.

In this review we will go beyond describing the different account types of investment opportunities. We’ll talk about the founders and the executive team that run the company, we’ll discuss the firm’s approach customer service and how those customers view the company on different review websites.

Overall, very few other IRA providers can compete with what Kingdom Trust Company has to offer and the more and more we work through this review, you’ll see it for yourself.

The Founders and Management Team of Kingdom Trust Company

Matthew C. Jennings is the CEO of Kingdom Trust Company.

Matthew C. Jennings, Founder, Kingdom Trust Company

Matthew C. Jennings, Founder, Kingdom Trust Company

Over his time as the firm’s leader, he let it to become the first ever custodian of cryptocurrencies. He is the cofounder of Kingdom Trust’s parent company, SBG 1320. Outside of managing other alternative investments, Jennings takes care of multiple millions of dollars’ worth of real estate for the company.

Jennings didn’t start the company on his own. His President Charles Ives was also instrumental in getting things off the ground.

Charles Ives, President, Kingdom Trust Company

Charles Ives, President, Kingdom Trust Company

Ives has over 15 years of experience and self-directed retirement industry and he’s responsible for putting in all the processes and procedures that may Kingdom Trust Company’s systems go.

Ives shares the job title of company President with Jason Anderson.

Jason Anderson, President, Kingdom Trust Company

Anderson has been working as an accountant for nearly 20 years. He focuses on corporate tax, business valuations, dispute resolution and white-collar crime.

Jason Anderson, President, Kingdom Trust Company

Lisa Tabers, Chief Operating Officer, Kingdom Trust Company

Rounding out the C level executives at Kingdom Trust Company’s Chief Operating Officer Lisa Tabers. She’s been with the company for 10 years now helping to manage the operations of the business since the beginning. Tabers previously worked in the pharmaceutical industry. She’s managed client services, billing and other business processes for the company in the past.

Lisa Tabers, Chief Operating Officer, Kingdom Trust Company

Kingdom Trust Company and Investing Account Types

Kingdom Trust Company has four different account types for clients to choose from.

The most popular account type of course is the Traditional IRA. In allows retirement planners to contribute during their working years and write off those contributions against their income tax. This works well especially during peak earning years where one’s income might be the highest. Any earnings accumulated within the IRA account over the investing period are tax deferred, but investors are taxed when they withdraw after the age of 59 ½. Early withdrawals before that year are subject to a 10% penalty.

The Roth IRA, like a Traditional IRA, is a placeholder for retirement investments. The difference is contributions to a Roth IRA are not tax-deductible but the contributor is not tax upon withdrawal either. If the retirement planner anticipates having a high income during the retirement, this account works better.

The last two account options are for small and medium-size businesses. A SEP IRA is for employers looking to contribute to the plans of employees and get tax write off for their contributions. The obvious benefit is that employees get some help. A SIMPLE IRA offers employees the opportunity to receive up to 3% of the contributions being matched by the employer. This is a more involved plan that can also be connected to a 401(k). The incentives here for the employee are better but not every employer is eligible.

Kingdom Trust Company Investment Vehicles

Kingdom Trust Company allows investors to put their money into digital currencies, real estate, private lending deals, single-member LLCs and marketplace lending opportunities. They also offer the opportunity to invest in businesses through crowdfunding and through traditional private equity deals and publicly traded securities.

Many other IRA providers offer similar types of investments, but Kingdom Trust Company has one of the best reputations of them all.

Kingdom Trust Company Fees

Kingdom Trust Company actually has three sets of fee schedules. One listing the fees for a whole gamut of alternative investments. Another listing fees that only have to do with digital currencies, and a third fee schedule that has to do with crowdfunding and marketplace lending. Let’s go through them in order.

The Standard Fee Schedule

The standard fees at Kingdom Trust Company are very competitive. An online application fee is just $25 and if customers preferred a printed copy of the application it $60. The most expensive transaction fee on the standard schedule is a $195 fee for a real estate transaction. Trades of securities cost $25 each and miscellaneous activities not covered by the fees that require an account representative to put an extensive time a research is billed at $150 per hour. These standard fees are all listed as annual rates.

Annual FeesFee Amount
Account Fee$225
Holding Fee0.25%
Account Setup Fees$25 online/$60 on paper
Check Distribution$5
Outgoing Wire Transfer$35 domestic/$75 international
Digital Asset Purchase, Sale or Exchange$150 per investment direction
Transfer Out$100 per asset

Digital Currency Fees

Contrary to the standard fees in the schedule, the digital currency fees are all listed as monthly fees. There’s a $20 monthly account fee and the fees for registering an application are the same, $25 online or $60 on paper. An asset purchase, sale or in-kind exchange will cost customers $75 and a trade is still set at $25 per trade.

Monthly Account Fees and Standard Service FeesFee Amount
Account Fee$20
Holding Fee0.05% up to $150 per month
Holding Fee for Other Alternative Assets$12.50 per asset
Account Setup Fees$25 online/$60 on paper
Check Distribution$5
Outgoing Wire Transfer$35 domestic/$75 international
Digital Asset Purchase, Sale or Exchange$150 per investment direction
Transfer Out$100 per asset

Crowdfunding and Marketplace Lending Fees

Crowdfunding and marketplace lending opportunities are unique and so is the fee schedule. The annual account fee is $150 to host two assets in the account. An asset purchase or in-kind contribution is $75. The minimum cash requirement for the count is $500 and there are a number of specialized fees for specific services. Those fees include a $10 fee for documents or reports and scale all the way up to $195 fee for a real estate transaction.

In general relative to all other competing IRA providers, including American IRA, Kingdom Trust Company fares very well in the fees department. Working with them is incredibly affordable for the average client.

Fee TypeFee Amount
Asset Account Fee$150 per asset; up to two assets
Additional Asset Custody Fee$75 per asset
Account Setup Fee$25 online/$60 on paper
Check distribution$5
Asset Re-registration$25 per asset
Outgoing Wire Transfer$35 domestic/$75 international
Cashier's Checks$40
Asset Purchase, Sale, Exchange or Transfer$75
Transfer Out$100 per asset

Customer Support at Kingdom Trust Company

Kingdom Trust Company’s customer support information varies by state. Head offices are located in Tuscaloosa and Birmingham, Alabama, and Brentwood, Tennessee. The company can also be reached by email through the Contact Us form online. There is no option to do a live chat with anyone at Kingdom Trust Company.

Kingdom Trust Company Customer Reviews

Kingdom Trust Company doesn’t have very many reviews on its Google business profile. The good news is the three reviews the company does have are all five-star ratings.

The organization also has an impressive track record on the Better Business Bureau website. It’s been registered through the BBB for 11 years and received a total of three complaints. Those complaints were handled relatively swiftly and the customers walked away happy as evidenced by the comments on the company’s profile page.

Kingdom Trust Company FAQs

Here are the answers to the questions are probably wanting to ask about Kingdom Trust Company.

Kingdom Trust Company is a self-directed IRA custodian. The company offers four different IRA account types in many different forms of investing opportunities where clients can put money into alternative assets including things like securities, precious metals, real estate, and marketplace lending deals among other types of investments.

Kingdom Trust Company offers custodianship to professionals that work all across the financial spectrum, including precious metals dealers, financial advisors, mutual fund managers, and more.

The company can also serve various cryptocurrency portfolios and digital asset management companies.

The organization can also offer access to crowdfunding and private lending opportunities as well as support for escrow services and other custodians around the globe.

Not every IRA provider allows clients to register corporate names, but Kingdom Trust Company actually does! The advantage to doing this is that clients can write checks to the corporation and withdraw from the account through the corporate name giving them more flexibility. It should be noted that while this isn’t technically illegal, the IRS does try to actively screen this out.

Investors have up to two months to convert a Traditional IRA into a Roth IRA. If it takes longer, the government will take income tax from the investor. That’s the rollover way! This is the perfect solution for investors who literally just want to change their account but have no intention of actually touching the assets directly.

Anybody who wants to get their hands on precious metals or other assets can conduct a transfer instead. With a transfer, the assets go into the investor’s personal possession, and then they can move money over to a new account. Just keep in mind this is unnecessary for those that are literally just switching accounts over.

While it’s not recommended to withdraw from an IRA for emergencies because of tax implications, sometimes it’s just necessary. Investors wishing to take out money before the age of 59 ½ will have to pay a 10% penalty plus whatever added income tax there is. If withdrawing puts you in a higher tax bracket, you could be paying more in tax than you anticipated. Be very careful when choosing to withdraw early.

Regardless of the IRA provider you choose to work with, choosing the right account type in the right investments comes down to personal preference. If you’re struggling to figure out what your preferences are, try considering a few of the basics related to your own personal situation.

Think about your age, whether or not you own a company or business, how much you think you can contribute to retirement on a regular basis, your timeline for actually retiring, and what your current income and tax situation is like.

While generally speaking IRA account is meant for the long-term investor, it doesn’t mean that you can’t make changes and go in a different direction along the way. It may take time and cost some money, but we all go through changes in life and Kingdom Trust Company can support that.

Of all the IRA providers we’ve reviewed, Kingdom trust Company has one of the best reputations among its customer base. It offers scalable solutions for larger institutional investing stakeholders and serves self-directed IRA members just as well.

The company’s reputation is built on a solid foundation of customer service and understanding over the last 10 years, and Kingdom trust Company continues to grow as one of the top custodians in the industry today.

Using Kingdom trust Company as your custodian is a definite yes. Just keep in mind that there are other IRA providers out there to compare to before you make your decision!

 

See our Top IRA Reviews page for more company reviews and a comparison table of self-directed IRA providers.

 

Kingdom Trust Company IRA Review
Kingdom Trust Company IRA Review - by, April 1, 2011
4.5/ 5stars
on
Kingdom Trust Company IRA Review
  • Editor Rating
  • Very Good
  • 0/5 Avg. User Rating
  • 0 No reviews yet!
Review Summary :

With over $12 billion in assets under management since 2009, Kingdom Trust Company is one of America’s most respected IRA companies. The company prides itself on being very transparent with fees and offers tons of educational resources for new investors. Find out what makes it one of the best IRA providers around.

 

Have you purchased products from Kingdom Trust Company IRA Review? Leave a review!

Leave your rating

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