Equity Trust Company Reviews 844

Robin was super helpful and I was able to get the information I needed. She also sent me the forms needed right away too.

I have been with ETC since 2015. Alot of times they are slow (2 weeks or more) to credit standard / recurring / routine quarterly deposits from my RE (IRA) Capital Investment Partnership into my account. This past qtr, they recieved the coupons and cash on April 19 from the partnership, but as of May 6 they still have not deposited/credited the cash into my account. Also they will charge you late fees for their needed regulatory paperwork, which was emailed to the correct department as requested. This is an annual fee I always have to spend time on to clear up. BTW get your CPA to prepare your 990Ts and not ETC. Seveal years ago, I spend at least 40 hours cleaning up what ETC did on my previous years 990Ts (had to get the IRS involved as penaties and interest were being incurred). My then new to me CPA (expert in RE Partnership Taxes) had to show ETC directly what the ETC prepapers did wrong / missed and why. My CPA then refiled/ammmended on my behalf these 990Ts with the IRS. This CPA does not work for free, so it cost me

Add mine to the list of terrible reviews. It has taken us from October 2023 to April 2024 to get our funds transferred to Equity Trust. Of course they charged us a over $1000 each to move our assets over. We received no help in working though the transfer from Schwab (another terrible company) Now we are moving our funds out to avoid this terrible service and of course guess what another $250 fee to close the account - PLEASE - don't use Equity Trust there are better, more honest companies out there!

My experience with Equity Trust was lousy at best. I sold two properties that were acquire through Equity Trust and both almost a full month for me to have access to my funds which were transferred out. Funds should be available immediately for whatever I choose! They purposely seem to not belong to standard banking wire transfer groups so they can play the float while checks are sent via snail mail taking up to two weeks to transfer.... There customer service regarding this was terrible!

I just recently closed my account with ET. My advice is avoid at all cost. They held assets for me for less than 18 months, for that and account closure I've paid them $1130. Outrageous is a word I've seen many times in these reviews and it applies. It is my contention that I was never invoiced for any charges which didn't show up until I went to close the account.
When I did speak to an agent they were always nice and helpful. There was too much switching to this and that department for the correct information.

Had I (and I admit my own mistake) properly read (which I thought I did) and UNDERSTOOD their fee schedule I would never have signed up with these people and obviously will never do so again.
If your considering using these people:
UNDERSTAND THE FEE SCHEDULE!

May 11 update:
I've received no communication regarding the requested summary of charges and no response regarding my dispute of charges. There was a reply to this post apologizing for my issues, but no attempt to help me resolve them, except for a restatement of the equity trust email.
My problem is not with being able to contact them, its with getting them to respond in a timely and useful manner (or at all).

To begin, a salesperson called me out of the blue, which is illegal because I'm both Federal & Start Do-Not-Call lists. But I desided to listen. Thete all about getting you to switch your current broker to them. I'm.not switching anything unless I do due diligence about this company. Once I said that they basically hung-up leaving me wondering if this was an elaborate scam....
Things I did find out: yes they are legitamite but they're customer rating is only 3/5. That's terrible for a "service" company.

Laura B did a great job to get my transaction completed on time! She was very attentive and went above and beyond!

Terrible Custom Service!!!

It makes me sad to have to write this 1-Star review. 😭

I am deeply disappointed to leave this one-star review. As a loyal Gold Service member of Equity Trust for nearly two decades, I've always praised their top-notch service and resources. However, I must express my dismay at the recent decline in their customer service quality. The current representatives lack knowledge and professionalism, which is a stark departure from the exceptional service I once received. It saddens me to admit that if this trend continues, I may have no choice but to transfer my accounts elsewhere.

Horrible to do business with. Never prompt in dealing with your accounts in any timely manner. It will take numerous calls. They will give you the run-around. Heavy fees riddled into any documents or forms they require. They have many complaints from clients that I know that have done business with them, besides other financial mangers and those managers have warned me about them. They advised me to get my money out of their institutions as fast as I can and be persistent because they will make it difficult. They are a terrible business operation.

Would not recommend this company even if I was paid to do so. I’ve used ET for a few years now because a business partner recommended it, but their service is way below acceptable. Their fees are outrageous for the nonsensical service they do. I am switching to Schwab and Equity trust is charging me another $250 for termination fee besides making me pay the full year service of $225.
They’re punishing customers instead of giving better service.

Additional Info: I have paid Equity trust the $225 on March 12, 2024 over the phone and even though they took the money out of my credit card they are claiming that I haven't paid it (This is the ref number I was given when I paid it over the phone ET Conf # 29073Z).
I also have the statement from my credit card that they took the money on the said date.
Their website does not reflect the payment I have made too.
Schwab has made a request for the transfer and my whole IRA should be transferred but what I am seeing on ET's website is that only my cash (Which is very minimal- like $20) would be transferred, that shouldn't be the case, I asked for my whole IRA to be transferred, which are in their brokerage tied in stocks.

Would never recommend this company to handle Metal storage for your Gold/Silver IRA. Their fees are outrageous, little to no customer service. No shipping options, which resulted in me getting charged over $100 extra from FedEx, didn't need it in a hurry, as they have already taken a month to process my distribution request. Stay away from TrustETC.

ETC is quick to process transactions. They make sure the transaction is legally compliant. They have some very useful tools to review how investments are performing. The staff is knowledgable and friendly.

Fees are insane and service is terrible. Wait times on the phone stretch for hours, and the staff is woefully undertrained to do basic tasks. I unfortunately have multiple investments with ETC but I’m actively looking for alternatives. After having worked with ETC for five years, I could not recommend them less.

This company is a total ripoff. Bad enough they charge you $250 in fees to store your IRA metals their fees are ridiculous. I requested to cash in 35 silver coins and they want to charge $50 in service fees and $300 to ship them. So $800 worth of silver coins cost $350 to redeem. Stay away from them and Goldco.

Too long on hold for customer service. Other than that great service. Would highly recommend.

Dealing with Equity Trust has been a TERRIBLE experience. They are unreliable and unprofessional, failing to do their job and refusing to respond to repeated requests for assistance by phone and email. When I call, no one is ever available to help me. They never return my phone calls and my email requests for help only result in automated responses that are completely useless.

As the custodian of my Roth IRA at TradeStation, it is Equity Trust's job to transfer funds in and out of my account there - a simple task that only involves cash. When Equity Trust received a valid Account Transfer Request from Charles Schwab (authorized by me) to transfer funds to my Roth IRA at Schwab, Equity Trust said the transfer was blocked until I paid them $350 for "account fees." They told me they would complete the transfer after I paid them $350, so I paid the full amount immediately. That was 7 weeks ago. After charging me $350 in fees, Equity Trust closed my account - without doing the transfer. And they erased the balance in my account! The balance was $10,000 in cash, now it says "zero assets." They erased all my money!

Equity Trust refuses to do their job as custodian of my Roth IRA and it looks like I will have to hire an attorney to take legal action forcing them to do their job.

P.S. I found over 100 complaints against Equity Trust at the Better Business Bureau website, and more in Google Reviews.

Equity Trust text messaged my ex spouse about my account during the end of our divorce and recently when verifying me, asked me where he lives. This was a man with whom I had a court protected address from for my safety and yet Equity Trust continues to be illegally unprofessional!

It's pretty bad. Fees are outrageous for the minimal work they do. VERY hard to get ahold of anyone there when issues arise. Not willing to satisfy customers whatsoever. Fiduciary responsibility seems not to be a core value.

I invested my money with US Gold,but I never received a statement about dividends being paid,So I contacted US Gold and they told me your account has been transferred to equity trust,I had never heard of this company but now they have control over my money and still no statement,after I contacted equity trust they said that I need to pay some fees that I had know ideal about , this all seem to be illegal to me. I requested my money back but know one is willing to help me with this issue, My next step is to talk to a attorney.it been over 4 years.