Is Preferred Trust Company a SCAM?
Welcome to my review of Preferred Trust Company!
So, are they a SCAM? Or can we trust them?
More so, what do they offer? Where do they stand in the industry?
Let’s answer all these questions in this review.
What is Preferred Trust Company?
- Name: Preferred Trust Company
- Website: https://preferredtrustcompany.com/
- CEO/Owner: Carrie Cook
- Price: Varies
- Rating: 4.2/5.0
Preferred Trust facilitates both custodial and administrator roles as a licensed trust company formed in 2007. Their top priority is providing outstanding service to our clients nationwide.
For them, customer service starts with educating individuals and small businesses on the available investment options to maximize their IRA.
Services of Preferred Trust Company
Custodian
Preferred Trust Company is a Retail Trust Company licensed in the state of Nevada to act in the capacity of Custodian for self-directed IRAs.
Also, the responsibilities of Preferred Trust include safely keeping the liquid funds and invested assets purchased on behalf of the Depositor (you), collecting and receiving income and principal on behalf of the Depositor, and making disbursements from the account as directed by the Depositor by the account agreement.
Self-Directed IRAs
Most traditional IRAs and 401ks limit investments to traditional vehicles such as mutual funds or stocks.
As a passive custodian, Preferred Trust enables investors to break free of conventional investing and control their retirement wealth.
More so, a self-directed IRA (or “SD-IRA”) empowers you to invest in alternative assets of your choosing.
Unlike conventional IRAs, self-directed IRAs empower depositors to select and control the retirement account investments they want.
Furthermore, with this greater flexibility comes greater control of your financial future.
Types of Self-Directed IRAs
Traditional IRA
A traditional IRA enables you to fund your tax-deferred (funded with pre-tax dollars) account by contributing or by transferring funds from an existing qualified retirement plan, such as a former employer 401k, pension plan, or another traditional IRA.
Also, contributions to this account are tax-deductible and profits earned in your IRA from assets of your choice grow tax-free.
Roth IRA
A Roth IRA allows you to fund a retirement account with after-tax dollars that grow tax-free.
Furthermore, qualified distributions are also tax-free. Investors may set aside after-tax income up to a specified amount each year.
SEP (Simplified Employee Pension) IRA
A SEP IRA is a type of traditional IRA for self-employed individuals or small business owners.
More so, any business owner with one or more employees or anyone with freelance income can open a SEP IRA.
SIMPLE (Savings Incentive Match Plan for Employees) IRA
A SIMPLE IRA plan provides small employers with a simplified method to contribute toward their employees and their retirement savings.
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Investment Options
As a passive custodian Preferred Trust does not endorse or offer investments. More so, the popular investment options below are a reflection of the types of investment strategies used by their current clients.
- Digital Currency is an alternative investment that many consider as a hedge against inflation, much like precious metals, and for its diversification from the conventional market.
- Invest in a Company. Next, a legal organization that provides the tax advantages of a partnership while limiting the legal liability of individual partners.
- IRA LLC with Checkbook Control. The IRA LLC is a unique Limited Liability Company (LLC) created with specific language to meet the Internal Revenue Service (IRS) and Department of Labor’s stringent requirements to ensure the integrity of the IRA. More so, an IRA-owned LLC is established to achieve “checkbook control” over the Self-Directed IRA account.
- Limited partnerships are a popular method of raising capital from passive investors who prefer to not be involved in day-to-day business operations.
- Private equity, sometimes referred to as a private placement, consists of ownership interest in companies that are not publicly traded on a stock exchange. Also, these alternative investments can change into an existing business, a real estate venture, an investment partnership, and other areas.
and many more…
Reviews and Ratings of Preferred Trust Company
Here are the reviews and ratings of Preferred Trust Company:
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What I LIKE About Preferred Trust Company
A Lot of Good or Positive Reviews
As you have seen, there are a lot of good or positive reviews on Preferred Trust Company.
So, many of their customers are happy with what they offer.
Focused on Customer Education
Preferred Trust Company endeavors to educate account owners about their ability to invest in alternative assets through their IRA to provide tax-advantaged retirement growth.
More so, this wealth-building education enables clients to expand their knowledge and complete transactions with ease.
What I HATE About Preferred Trust Company
Expensive Fees
Sadly, Preferred Trust Company has expensive fees as compared to other custodians.
If you don’t mind paying a lot, you’ll probably be fine doing business with them.
Here’s their fee schedule:
Is Preferred Trust Company a SCAM?
Preferred Trust Company is NOT A SCAM.
They are a state-regulated company, with 14 years of experience specializing in self-directed IRAs that hold alternative assets.
More so, at Preferred Trust you can use your self-directed IRA to invest in real estate, private placements, notes/deed of trust, tax liens, and much more.
Also, all of their staff members are fully knowledgeable as self-directed IRA specialists.
So, more or less they are a good company to serve as a custodian.
Final Thoughts
When it comes to investing or making decisions when it comes to investment, the best decision is the safest decision.
This is most especially for situations wherein you’re gambling your retirement money. So, when going for the safest, I recommend GOLDCO.
Goldco is a leader in the precious metals industry, with over a decade of experience helping customers protect their retirement savings. Thus, if you have an IRA, 401(k), 403(b), TSP, savings, or similar tax-advantaged retirement account, a Goldco Specialist can help you protect those assets with a Precious Metals IRA.
They also offer direct sales of gold and silver to our customers. If you have a savings account, a Goldco Specialist can help you diversify those funds with precious metals. Whether you want to roll over retirement assets into a Precious Metals IRA or buy gold and silver directly, a Goldco Specialist can help you navigate each step of the seamless process from beginning to end.
More so, they have a rating of A+ by the Better Business Bureau and Triple-A by Business Consumer Alliance. Their quality customer service, dependability, and ethical business practices results in satisfying customers and positive reviews.
To know more about them, click below:
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