New Generation Trust Services IRA Review

New Generation Trust Services IRA
New Generation Trust Services IRA - by, April 1, 2011
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New Generation Trust Services IRA
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Review Summary :

New Generation Trust Services is a self-directed IRA custodian based out of New Jersey, proudly in business since 2004. The company offers one of the more flexible fee schedules of all IRA providers. It’s also run by an experienced and entrepreneurial executive team. Find out if New Generation Trust is the company you want to work with for your retirement needs.

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Pros:

  • Flexible fee schedule
  • Great customer reviews
  • Experienced and entrepreneurial management team
  • Plethora of investing options

Cons:

  • No option to register an LLC
  • Lesser known name brand
  • Quarterly fees are much higher than annual rates
Quick Facts about New Generation Trust Services IRA
Year Founded:2004
Location:Roseland, New Jersey
Annual Fees:Starting at $49 per year.
Offers 401(k)?:Yes
Offers Roth IRA?:Yes
Crypto Offered?:No
Reviewed By:Jack Choros
Published On:June 1, 2020
Last Modified:June 1, 2020
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Led by an all-female executive team, New Generation Trust Services is one of the top smaller IRA providers reviewed here at Sophisticated Investor.

The company offers all of the account types that most competitors offer and maintains a wide-open approach to allowing investors to choose investments that are right for them, even if the asset class is less than traditional. After all, investing in less than traditional assets is why most people go with a self-directed IRA plan in the first place.

Nevertheless, readers reviewing New Generation Trust Services should consider that the company has great customer reviews, albeit in limited numbers. Still, what people think and feel about a company and what they are willing to publish online is usually indicative of how great or not great the customer experience may be.

Working with New Generation Trust Services will prove to be a great choice should you choose to do so. There fees are in line with most competitors and they offer lots of flexibility in that regard.

The company itself manages more than $600 million in assets and the leaders of the organization have lots of experience in investing, finance and all facets of custodianship.

Check out this review and form an opinion for yourself!

The Management Team and Board of Directors of New Generation Trust Services

New Generation Trust Services lists no fewer than 13 people on its About Us section. In the midst of reviewing every self-directed IRA provider imaginable across America, we have yet to run into a company name that features women and all of its top leadership positions. That is until now!

Jaime Rasculinecz, Founder and CEO, New Generation Trust Services

Jaime Rasculinecz, Founder and CEO, New Generation Trust Services

Jaime Rasculinecz is the CEO and founder of New Generation Trust Services. She founded the company in 2004 out of her own desire to invest in real estate within an IRA account. Rasculinecz now oversees her staff and together the company manages more than $600 million in assets. Rasculinecz is the recipient of the 2017 and 2018 Ernst & Young award for Entrepreneur of the Year in New Jersey.

 

Alongside Rasculinecz is Linda Varas. Varas is listed as Principal of the company and after many years with New Generation Trust Services, she’s now focusing on her own retirement and chipping and as more of a consultant. She’s also the President of Rainbow Property Management and she’s been in the property management industry since 1994.

Karen Jung is the firm’s chief Chartered Professional Accountant and Director of Finance. Jung oversees both the company’s corporate financials and the financials of individual clients. She is licensed in New York State.

DeAnna Cook is the Vice President of New Generation Trust Services. She has been with the company since 2010. She oversees the day-to-day processes of the company and actively manages client accounts.

Now that we’ve taken a look at the management team at New Generation Trust Services, let’s go over some of the investing account options the organization has to offer.

New Generation Trust Services Investment Opportunities

One of the reasons New Generation Trust Services has glowing customer reviews and a totally fair fee structure is because they offer the full range of account types that most competitors offer and they are also able to offer a full range of different investing options. The account types or something that we have reviewed on many other reviews here, like Advanta IRA at Sophisticated Investor.

The account types include:

  • Traditional IRA
  • Roth IRA
  • SIMPLE IRA
  • SEP IRA
  • 401(k) plans
  • Health Savings Accounts
  • Coverdell Education Savings accounts

It’s important to note that each of the account types above caters to clients dealing with specific situations. Generally speaking most clients wishing to open an individual IRA account will go with a Traditional or Roth account. A Traditional account allows for income tax write offs during contribution years where a Roth does not. The benefit to choosing a Roth IRA however is that the investor doesn’t pay income tax later.

SEP and SIMPLE IRAs may still be able to be used by self-employed individuals but they are mostly geared towards businesses looking to benefit from contributing to the plans of employees or simply looking to write off contributions as a business expense.

401(k) plans and Health Savings Accounts are usually reserved for corporations with more than 100 employees. There are advantages first set employees and the employer, but the drawback is that these kinds of plans involve significant administrative fees. The average individual wouldn’t pay them in order to hold these accounts personally. It just wouldn’t be prudent.

Obviously it goes without saying that a Coverdell Education Savings Account is geared towards preparing children financially for post-secondary learning.

Investments to Choose From

Here’s a list of the main investing options people have when they choose New Generation Trust Services. Keep in mind that most self-directed IRA companies will actually work with you if you want to invest in an alternative asset that’s considered more exotic or out of the norm. The only way to inquire about what a self-directed IRA provider is willing to make possible to meet your customized needs is to contact them directly and see what they will do for you.

That said in general, here is what most IRA companies will provide as far as investment options go.

  • Real estate
  • Private Equity
  • Precious Metals
  • Lending and Mortgages
  • Stocks, bonds and mutual funds
  • Social causes & impact investing

The Fee Schedule at New Generation Trust Services

New Generation Trust Services is in the business of providing IRA accounts to customers to make money. Just like any other investment company, New Generation Trust Services makes its money off of fees. Most IRA competitors offer either an annual fee schedule, a quarterly fee schedule, an asset-based fee schedule or a value-based fee schedule. Some mix-and-match these features. That’s New Generation Trust Service’s approach.

Clients can choose to either pay fees based on account value or pay based on the number of assets in the account. Any client paying a fee for every asset owned pays yearly. Clients that choose to pay based on the overall value of their account pay quarterly. It’s also important to note that precious metals investing comes with a completely different fee schedule at New Generation Trust Services.

Basic Annual Fees Charged Per Asset

The annual record keeping fee per asset at New Generation Trust Service’s $325. That rate drops to $100 per asset for precious metals, but everything else is $325. That means if you’re diversified into five different assets, you’ll be spending more than $1,500 a year in fees, which is excessive. That said, this option is for investors just starting out who maybe don’t invest in a lot of assets. The reason we can comfortably say that is because generally speaking the quarterly fee is paid based on the total value of an account workout to less in the long run.

Basic Quarterly Fees Based on Account Value

New Generation Trust Service’s quarterly fees start at $49 for an account that’s worth less than $10,000. From there an account that’s worth less than $20,000 has a $59 quarterly fee. Once an investor reaches $50,000 in their account, the quarterly fee is a minimum of $129. At $100,000 in the account, the quarterly fee is over $200, which works out to animals $850 a year. Clients with a high net worth and an account value over half $500,000 are going to pay at least $499 and quarterly fees, which works out to almost $2,000 annually.

So in summary if you own real estate, securities or private investments in an IRA with New Generation Trust Services, it’s better to pay a fee per asset once your account reaches between 80 and $100,000 a year. Of course to some degree it depends on how many assets you intend to own in the account.

In addition to the above fees, investors need to pay separate fees for things like wire transfers and checks. Those fees range from $25-$125 depending on the service being requested. That’s pretty standard in the finance industry in general.

Here’s a summary of the account based fees charged by Next Generation Trust Services:

Account ValueQuarterly Rate
Up to $9,999$49
$10,000-$19,999$59
$20,000-$29,999$75
$30,000-$39,999$95
$40,000-$49,999$115
$50,000-$59,999$129
$60,000-$74,999$149
$75,000-$99,999$179
$100,000-$149,999$209
$150,000-$199,999$249
$200,000-$249,999
$299
$250,000-$500,000$399
$500,000+$499

Fees for Precious Metals Accounts

As mentioned in the sections above, facilitating the purchase or sale of precious metals with a New Generation Trust Services IRA account comes with a fee of $100 for domestic assets. The fee for international assets is $125.

There are also other fees related to precious metals that cost between $25 and $50 for things like wire transfers and checks.

Customer Support at New Generation Trust Services

Not every IRA provider is available through live chat but a few of them do and New Generation Trust Services is one of them. Not only that, but the Contact Us page lists four or five different forms that customers can fill out to address specific issues. It’s a good way to organize things without forcing everybody to phone in.

The good news is, clients who really need a voice to talk to you can dial a toll-free number and speak to an account manager directly. That phone number is 1-888-857-8058.

Customer Reviews for New Generation Trust Services

New Generation Trust Services has a 4.1 out of five star rating at TrustPilot.com. That’s pretty good, just keep in mind that it’s only based on eight reviews. Still, a positive rating is a positive rating.

As far as the Better Business Bureau goes, New Generation Trust Services has been registered on the website since 2014 and has yet to receive any customer complaints. The company’s grading is an A+ which is fantastic. Many other IRA providers rank in A+ but many of them also have a slew of customer complaints that had to be addressed. The fact New Generation Trust Services doesn’t have any at all is a really good sign.

Where most companies have at least some reviews on their Google business profile, New Generation Trust Services only has one reviewer rating the company five stars. Parsing through  TrustPilot or BBB.org is probably a better gauge for how well the company treats clients.

 

New Generation Trust Services Frequently Asked Questions

New Generation Trust Services has a robust section on its website for frequently asked questions. Here are some of the questions and answers.

This has more to do with the IRS than the IRA provider. There are only two types of investments that are not allowed in an IRA. Life insurance and collectibles (art, rugs, jewelry) are not allowed. Most other conventional and alternative assets are fair game, although you might have to contact customer service in order to get into a specific type of investment not openly listed on the company’s website.

No, that’s not currently allowed. While cannabis is legal in some parts of the United States, at the present moment it’s not a viable retirement investment inside of an IRA account. Legal cannabis stocks, however, are allowed.

New Generation Trust Services holds cash in accounts with their depository banks. Your money is safe until you’re ready to use it to purchase an asset inside of your IRA account.

 

Should You Choose New Generation Trust Services for your Self-Directed IRA?

The fact New Generation Trust Services was born out of an entrepreneurial spirit from its leadership is great. Having the desire to invest in one’s retirement using a self-directed IRA means having an entrepreneurial spirit in the first place. New Generation Trust Services seems to really embody that while taking a professional approach to helping clients realize their retirement goals.

All of the account options people would typically find with a competing company are available at New Generation Trust Services and they are willing to work with clients to come up with an alternative asset mix that suits their needs. The customer reviews are on par with many of the top self-directed IRA companies being reviewed here at Sophisticated Investor.

As always, before committing to a particular self-directed IRA company, we recommend doing your research and due diligence. To make an informed investment decision, read our exclusive list of the Top IRA Providers today.

 

New Generation Trust Services IRA
New Generation Trust Services IRA - by, April 1, 2011
4/ 5stars
on
New Generation Trust Services IRA
  • Editor Rating
  • Very Good
  • 0/5 Avg. User Rating
  • 0 No reviews yet!
Review Summary :

New Generation Trust Services is a self-directed IRA custodian based out of New Jersey, proudly in business since 2004. The company offers one of the more flexible fee schedules of all IRA providers. It’s also run by an experienced and entrepreneurial executive team. Find out if New Generation Trust is the company you want to work with for your retirement needs.

Have you purchased products from New Generation Trust Services IRA? Leave a review!

Leave your rating

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