Companies featured here may provide compensation for click throughs. This is how I maintain free research for consumers. My full disclosure of who I invested with is on this page for transparency.
TL;DR: Equity Trust Company reviews are mixed. On Trustpilot, the custodian holds 3.2 out of 5 stars across 655 reviews, and on the Better Business Bureau it holds an A+ rating with 3.55 out of 5 stars across 105 reviews, an average of about 3.4 stars overall. Equity Trust has been an IRS-approved self-directed IRA custodian since 1983, holds more than $34 billion in client assets across over 130,000 accounts, and supports precious metals, real estate, and other alternative assets. The most common complaint in Equity Trust Company reviews is a fee schedule that runs higher than several competitors, so compare its pricing before you open an account.
What Is Equity Trust?
Equity Trust is an IRS-approved self-directed IRA custodian that has served accountholders since 1983 and now holds more than $34 billion in assets across over 130,000 client accounts.
Founded in 1973, Equity Trust Company has held IRS approval as a self-directed IRA custodian since 1983. The brand also collaborates with 10,000+ financial professionals.
The company specializes in different investment account options, allowing people to diversify their portfolios with precious metals, real estate, ETFs, bonds, stocks, and other alternative assets.
Ultimately, Equity Trust serves a large clientele base, including financial institutions, businesses, and individual investors. It doesn’t offer investment, legal, or tax advice. Instead, the brand focuses on custodial and administrative duties.
Today, Equity Trust stands as a large player in the industry, offering various services, such as self-directed IRAs and much more.
As of January 2024, Equity Trust shows these corporate leaders:
- Chief Financial Officer, Matt Gardner
- Chief Executive Officer, George Sullivan
- Chief Information Officer, Mark Furmanek
- Chief Human Resources Officer, Amy Hall
A self-directed IRA custodian like Equity Trust does not pick your investments or give tax advice. It holds the account, processes transactions, and reports to the IRS on your behalf. For gold and other precious metals, 26 U.S.C. Section 408(m)(3) is the rule that carves specific coins and bars out of the general IRA collectibles ban, which is why a self-directed IRA can hold physical metal at all. The custodian, not the metals dealer, is responsible for enforcing that standard and reporting the account’s value to the IRS each year. The fineness standard requires gold to be at least .995 pure, silver at least .999 pure, and platinum and palladium at least .9995 pure, with a narrow, well-documented exception for American Gold Eagle coins. When money moves into a self-directed IRA from an old employer plan or another custodian, a direct trustee-to-trustee transfer keeps the funds moving between institutions instead of passing through your hands, which avoids withholding and tax-reporting complications. Equity Trust’s role in that process is administrative. It receives the transferred funds, opens the account, and holds the resulting assets in your name.
Equity Trust’s Reputation
Equity Trust holds a 3.2 out of 5 rating on Trustpilot from 655 reviews and an A+ rating with 3.55 out of 5 stars on the BBB.
It’s worth researching different brands when choosing a self-directed IRA company, and third-party review platforms are a fast way to see the pattern behind the star rating.
Positive Reviews for Equity Trust Company
Reviewers who praise Equity Trust tend to point to responsive customer service and account tools that are simple to use once set up.
Debra K. says Equity Trust offers efficient, excellent, and IRS-compliant products and services. Bill says the account tools make it easy to manage his IRA and run the properties inside it. Dean says a customer service agent answered his questions about a distribution request and its fees. Across these accounts, the pattern is the same. Once an account is open, Equity Trust’s platform and staff are generally easy to work with for everyday account management.
Negative Reviews Including Equity Trust’s Fee Schedule
The most common complaints describe slow customer service and confusion over Equity Trust’s fee schedule, including a case where a new accountholder was billed a $50 start-up fee and a $320 annual maintenance charge before the account was even funded.
Carrie C. says that the brand let her down and offered a disappointing experience. She doesn’t think that the company will return her funds and reminds people that they should invest wisely. She also mentions another investment option that provides reliable sources she can depend on.
- Schi said that the entire process was disappointing at Equity Trust. The platform was often glitchy, and customer service wasn’t very helpful. She mentions how frustrated she was not to get assistance when dealing with such important financial matters. She eventually switched to another company to try its services instead.
Client G. mentions that Equity Trust was unprofessional, unfriendly, and unhelpful, asking why the brand was so bad. They also list specific customer service representatives who liked to transfer them around, asking why that happened and offering robo-answers. Overall, they say you could deal with the hotline for an hour or longer and get nothing for your troubles.
Continuing on, Client G. mentions that it wasn’t a nice experience dealing with Equity Trust Company. Offering advice, they say that you must call as a new client and request to speak with a manager to get anywhere. They also say that the online system doesn’t work correctly, and no one knows why.
Brandon S. said that he opened an account with the company and had a zero balance, hoping to fund it in the next month. However, he received a bill for a $50 start-up fee and saw a $320 charge for annual maintenance.
He goes on to point out that the fee schedule shows a $15,000 minimum before the maintenance fee applies. It also listed a $1 minimum for a lower annual price. Brandon emailed his account representative, saying he wouldn’t mind paying the opening cost, but he needed clarification for the other charges. He received no response at all. Everything was eventually closed, but it was a hassle.
Is Equity Trust Legitimate?
Yes, Equity Trust is legitimate, an IRS-approved self-directed IRA custodian with an A+ rating from the BBB.
Equity Trust isn’t a scam. It’s an IRS-approved custodian with a long history in the financial sector, and it’s confirmed as legitimate by the scale of assets it holds and its BBB rating.
Pros and Cons of This Brand
Equity Trust’s core strength is its IRS-approved custodian status and broad investment menu, and its main drawback is a fee schedule that runs higher than some competitors.
A 3.2-star Trustpilot average and a 3.55-star BBB average tell two different stories about the same company. Trustpilot reviews tend to skew toward people reacting right after a single interaction, good or bad, while a BBB rating factors in how a company responds to formal complaints over time. Reading both together, rather than picking whichever number looks better, gives a fuller picture of a custodian before you commit retirement funds to it.
That fuller picture matters most on fees. If you’re comparing Equity Trust against another custodian, ask each one for its complete fee schedule in writing before you fund an account, including the account balance that triggers annual maintenance charges. That single question would have saved Brandon S., quoted above, a $320 surprise.
Pros of Equity Trust
- A reputable, IRS-approved custodian. Equity Trust is backed by top-ranking gold IRA firms and has held IRS approval as a self-directed IRA custodian since 1983.
- A diverse investment menu. Accounts can hold real estate, ETFs, stocks, bonds, and other alternative assets alongside precious metals.
Cons of Equity Trust Company
- Fees can run higher than competitors. Multiple negative reviews, including one describing a $50 start-up fee and a $320 annual maintenance charge, point to pricing that outpaces some other self-directed IRA custodians. The $15,000 balance threshold before that maintenance fee applies is also worth flagging up front, since it caught at least one reviewer by surprise.
Services and Products Available at Equity Trust Company
Equity Trust supports a wide range of self-directed account types and alternative investments beyond precious metals.
You’ll find many services and products available at Equity Trust, such as:
- Self-directed IRA accounts, including SIMPLE IRA, SEP IRA, Roth Solo 401(k), Solo 401(k), HSA, CESA, Roth IRA, and traditional IRA options
- Various investment types, such as mutual funds, stocks, precious metals, cryptocurrency IRAs, Forex trading, private equity, private lending, and real estate
A SIMPLE IRA and a SEP IRA are both employer-sponsored options built for small businesses and the self-employed, while a Solo 401(k) works for a one-person business with no full-time employees other than a spouse. Which structure fits depends on your business setup and how much you want to contribute each year, so it’s worth confirming the right account type with a tax professional before you open one.
Frequently Asked Questions
Here are direct answers to the questions readers ask most about Equity Trust as a self-directed IRA custodian.
How Does the Company Work?
Equity Trust is a custodian for various self-directed IRAs, so it handles the administrative and custodial duties for many types of investment accounts. In practice, that means it opens the account, executes your buy and sell instructions for permitted assets, and files the tax paperwork the IRS requires each year. It does not recommend which precious metals dealer or investment to use, so you choose that part separately.
How Long Has the Company Been in Business?
It was founded in 1973, but it’s only been a self-directed IRA custodian since 1983.
Is Equity Trust Reputable?
Yes. Equity Trust is IRS-approved and widely recognized within the financial industry as a legitimate self-directed IRA custodian. That reputation is grounded in real numbers. An A+ BBB rating, more than $34 billion in assets under custody, and IRS approval since 1983 are the kind of track record that’s difficult to fake.
Contact Information for Equity Trust Company
Equity Trust is based in Westlake, Ohio, and also does business online as Trustetc.com.
Here is a brief look at the company’s contact category and social media accounts:
- Category: Self-directed IRA company
- Alternate Name: Trustetc.com
- Social Media: Facebook, LinkedIn, X, and YouTube
For a current phone number and mailing address, use the contact page on Equity Trust’s own website rather than a third-party listing, since custodian contact details can change. Verifying contact information directly with the custodian, rather than trusting a search result, is a habit worth keeping for any company that will hold your retirement account.
Equity Trust Alternatives Offering a Self-directed IRA
UDirect IRA, Alto IRA, Strata Trust Company, and several other self-directed IRA custodians are worth comparing against Equity Trust before you open an account.
Equity Trust has higher fees and some customer service issues, so it’s worth considering these other brands too. Some of these alternatives, like GoldStar Trust Company, focus mainly on precious metals, while others, like Alto IRA and Rocket Dollar, cover a broader range of alternative assets, including start-ups and cryptocurrency. Compare each custodian’s fee schedule and asset menu against Equity Trust’s before you decide where to open your account.
UDirect IRA
UDirect IRA deals primarily with self-directed IRAs. Investors can include many assets in their retirement portfolios, such as precious metals (gold and silver), private placements, and real estate.
Alto IRA
Alto IRA offers a more modern approach to self-directed IRAs. You can invest in alternative assets like precious metals, start-ups, and cryptocurrencies, which can diversify your retirement savings.
Strata Trust Company
Strata Trust Company also specializes in self-directed IRAs. It offers many investment opportunities in alternative assets, such as precious metals, private equity, and real estate.
Broad Financial
Broad Financial offers Solo 401(k) plans and self-directed IRAs. Investors have the freedom to invest in many assets, including precious metals, real estate, and cryptocurrencies.
The Entrust Group
The Entrust Group has been a facilitator of self-directed IRAs for many decades. It’s easy to invest in various assets, such as private equity, precious metals, and real estate, to diversify your portfolio.
IRA Financial
IRA Financial offers Solo 401(k) plans and self-directed IRAs. You can diversify your retirement savings with cryptocurrencies, real estate, and precious metals.
Millennium Trust Company
Millennium Trust Company offers custodial services for many types of self-directed IRAs. You’ll find multiple alternative investments, such as private equity, real estate, and precious metals.
Pacific Premier Trust
Pacific Premier Trust used to be called Accuplan. It provides self-directed IRA services that focus on alternative assets like precious metals, real estate, and private equity.
Rocket Dollar
Rocket Dollar offers a platform for many self-directed retirement accounts. Investors can easily mix alternative and traditional assets to boost their portfolios.
GoldStar Trust Company
GoldStar Trust Company is a well-known gold IRA provider and has many decades of experience in the financial industry. It deals primarily with precious metals, allowing you to securely and compliantly invest in gold, platinum, palladium, and silver.
Advanta IRA
Advanta IRA is another self-directed IRA administrator that offers various investment options tailored to your individual retirement planning needs. You’ll find precious metals, private lending, and real estate choices.
Final Thoughts on Equity Trust as a Top Self-directed IRA Company
Equity Trust is a legitimate, IRS-approved custodian, but its higher fees and mixed customer service reviews mean it’s worth comparing against the alternatives above before you commit.
That comparison takes an afternoon, and it can save you real money over the life of the account. Choosing the right company to set up, maintain, and house your self-directed IRA account is crucial, because you want your retirement savings protected until you need them. It’s often difficult to know which brand to consider.
While Equity Trust is legitimate, it does have higher fees compared to some other brands. It might also be tougher to set up an account, and the customer service team seems to lack in some areas. You may end up paying more and getting less.
Overall, it’s essential to do your own research when selecting a gold IRA brand. Read through multiple Equity Trust Company reviews, and don’t forget about its competitors. You may also want to talk to a financial advisor before selecting one, since they can help you decide what’s right for your specific needs. You can review Equity Trust’s own custodian disclosures on its official website.
Disclosure: Some companies featured on this page may compensate us for click-throughs, which helps fund our independent research. Our full disclosure is available on this page for transparency.
By Tim Schmidt + Sean Webster Reviewed by Sean Webster
See also our Accuplan self-directed IRA review.
