Today we review Midland Trust and their services. What is Midland Trust Company? Is their IRA Services legit? How well do they match up against other companies in the industry? This and more we try to help you answer in this short review! Ok, with that being said, let´s dig into it!
Company: Midland Trust Company
Owner: Heath Sorenson (President)
IRA services: Yes
Overall rating: (4 / 5)
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They employ high-pressure sales techniques like calling you every day.
To avoid this, please do your own research before you decide what firm to invest with.
You can do this by checking the reviews and ratings independent 3rd party consumer protection agencies give them.
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With that being said, let´s continue with the review on The Midland Trust Company!
What is Midland Trust Company?
Midland Trust Company (MTC) is a subsidiary of Midland States Bank (wholly-owned) and has offices in New York and Illinois. It is a full-service trust company that offers customized trust management, estate administration, and planning advice, as well as in-house investment management services. In addition, MTC specializes in the administration of special needs trusts.
MTC has been in business for almost 30 years now, serving both short and long-term investors. During that time, this institution has created many lasting relationships with people who are looking for financial freedom by constantly evolving and expanding its services, as well as standing the test of time. How? There are a number of reasons, including MTC’s:
- Compassion & Understanding
- Cost Savings
- Cutting-Edge Technology
- Expertise & Dedication
- Government Benefit Programs Experience
- Investment Options
- Peace of Mind
- Personalized Service
- Spanish-Speaking Administrators
Three Billion Dollars in Client Assets
MTC has more than $3 billion in client assets, which gives customers the peace of mind they’re looking for when choosing a self-directed account administrator. They provide the services and tools for confident investing of customers’ retirement funds and are way ahead of the rest with their cutting-edge technology plus 24/7 access to accounts. They also have a powerful online portal (midland360.com) where customers can:
- Make contributions,
- Pay bills on behalf of their IRA,
- Request distributions,
- Use secure document upload (for time-sensitive delivery of important papers),
- View statements,
- View tax documents.
More Investment Freedom
It’s a fact that, for a large number of investors, their retirement account is their biggest liquid asset. However, many don’t even know that they can invest in alternative assets via a self-directed (SDIRA) nor that self-directed IRAs can provide tax-sheltered (and possibly much higher) long-term returns that can basically give consumers more investment freedom. The truth is that self-directed IRAs aren’t even a special type of IRA and the terminology is simply referring to the method of administering the account. With an MTC SDIRA, customers have a broad range of alternative investments available for helping with achieving their own personal financial goals. At MTC, SDIRA accounts can include:
- Roth IRAs,
- SEP IRAs,
- SIMPLE IRAs,
- Traditional IRAs.
Real Estate IRAs
Real Estate happens to be a very popular IRA asset. There is almost nine trillion dollars total in IRAs, amounting to 30 percent of all U.S. retirement assets. And, MTC customers are currently holding about $250 million in real estate investments in their MTC self-directed IRA plans. A large number of U.S. investors find real estate attractive due to the fact that navigating it is fairly easy and also because it’s secured by physical property. So, Midland regularly engages in helping them with maximizing their self-directed retirement accounts’ wealth-building potential. And, one of their main goals is being the industry’s most responsive trust company by providing efficient operations and dedicated service representatives for all customers.
Real Estate investing with self-directed IRAs (aka Real Estate IRAs) gives investors greater freedom for investing in a wide range of property types. Some highly-favored properties can include apartment buildings as well as other types of multi-family or even single-family homes. On the other hand, some others can include investments in condos, co-ops, vacant land, commercial properties, and much more. The fact is that Real Estate IRAs are actually capable of providing a number of valuable perks for all kinds of investors. And most importantly, IRAs allow investment property income to just keep on growing while being tax-sheltered.
So, it’s important to note that there are numerous ways of investing in real estate via self-directed IRAs.
Important: Please make sure that you know exactly what fees are associated before you sign anything, I have seen so many reports online of people getting surprised with so-called hidden fees that they had no idea about until it was too late. Transparency is what you want to look for in this industry.
No precious metals IRAs?
As this site mainly focus on gold & silver we always look a bit extra on that part of investments. There is no info on Midlands official website about this so am going to asume they do not offer help with that.
**My #1 recommended gold & silver IRA company is 100% transparent + they got a few other benefits you might want to have a look at if you are interested in a new IRA, see this page
Opening IRAs at MTC
The basic procedures for IRAs are:
1 Opening an account and filling out the IRA account application and submitting all originals to Midland IRA Application documents that can be easily downloaded from the website.
2. Funding the account by transferring funds from an existing IRA or rolling funds over from another plan.
3. Starting to invest by sending MTC a purchase authorization following investment identification, which also could be accompanied by a real estate contract that shows the IRA as the owner of record.
Learn about our #1 recommended IRA solution on this page
The Midland360 client portal offers customers account access 24/7. And, Midland Pay app in the Payment Portal makes the collection of notes and/or rent payments extremely fast and simple.
Do You Own or Represent Midland Trust Company?
If you are a representative, or associate of Midland Trust Company and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or simply by sending an e-mail to firstname.lastname@example.org
Final words & verdict
Overall rating: (4 / 5)
Ok, I think that sums up the overall view of Midland Trust Company pretty good. It is a legit company for sure and if you are interested to open up a new real estate IRA for example, or any other of the services they have to offer. Then you might want to consider Midland. If you are looking for a precious metals IRA or even a cryptocurrency IRA then you might want to look at our top-5 recommended companies in both categories below:
See our top-5 recommended gold & silver IRA companies on this page
See our top-5 recommended crypto IRA companies on this page
I hope you found this short review of Midland Trust Company to be helpful and that you now have a better understanding on what it is and if it is something that you might have value from. If you have used any of their service then please share your experience in the comment section below as it can help others make better decision. Also, if you got any questions I would be more than happy to answer them below!
I wish you success!
Pete, investor and team member of Goldretired