What is Preferred Trust Company? Does it offer reliable services? Is there information about it that you should know before you get started? Should you consider utilizing its services or should you stay away from them? Welcome to today’s comprehensive review about this popular company!
Name of the company: Preferred Trust Company
Official Website URL: https://preferredtrustcompany.com/
Overall Rating: (4.2 / 5)
Table of Contents
- What is Preferred Trust Company?
- The Services offered by Preferred Trust Company
- How does Preferred Trust Company Work? (How to Get Started)
- Does Preferred Trust Company offer IRA services?
- Can you open a Precious Metal IRA with Preferred Trust Company?
- Fees and payment methods for the services offered by IRA Resources?
- Is PTC Genuine or Is It a Scam?
- Pros and Cons
What is Preferred Trust Company?
Preferred Trust Company, or PFT, as popularly abbreviated, is a company that offers both custodial and admin services in its capacity as a licensed trust company. Its top priority is to offer outstanding services to its clients nationwide. For the staff at PFT, customer service commences with the education of individuals and small businesses on the investment opportunities that they can take up to maximize the benefits of their IRAs.
This company was founded in 2007, and its mission has been the same since then- to provide people with the opportunity to get past all barriers of investing in IRAs. PFT’s top values are ease, full transparency, and helping customers get on the fast track to opportunity. The staff, equipped with knowledge of these values, educate the account owners on how they can invest in alternative assets through their IRAs to unlock tax-advantaged retirement growth.
The education that this company provides enables its clients to expand their knowledge about investing through their IRAs and to proceed with their transactions with ease. If you have a Self-Directed IRA, you can make this company your custodian, since it claims that it has the following to offer:
- Safety and security
- Strength of assets
- Investment freedom
- Personalized services
The Services offered by Preferred Trust Company
According to the information presented on its official website, Preferred Trust Company is a retail trust company that is fully licensed in the state of Nevada to provide custodial services for a wide variety of self-directed IRAs. The responsibilities of Preferred Trust Company include:
- Keeping all liquid funds safe
- Ensuring that all assets purchased on behalf of the investor/depositor are kept safe.
- The collection and reception of the income and principal on behalf of the investor/depositor
- Making disbursements from the IRA as per the instructions provided by the depositor.
According to this company’s services, one can get help with the opening of a self-directed traditional IRA, self-directed Roth IRA, self-directed SEP, or self-directed Simple IRA, so that he or she can start investing for their retirement years with the assistance of a company that claims to have sufficient experience.
How does Preferred Trust Company Work? (How to Get Started)
The best way to get started with PTC is to schedule a free consultation session. You can do this by filling up a form on the official website, on which you are required to provide the following information:
- First name
- Last name
- Phone number
- Availability (day of the week, time of the day)
- Whether you currently have a retirement account.
The staff at PTC will get back to you as soon as possible, though you can always contact them through the following avenues to get more information about their services:
- Mail (to their physical address)
If you have read all of this company’s terms and conditions, and you understand what you’ll be facing in the course of your life as their customer, you simply get started by filling in the application kits on their official website. With the e-sign version, you can complete and sign the forms electronically. You can also download the forms, print, sign them, and send them to PTC via mail, or scan and email them via the official email address.
Does Preferred Trust Company offer IRA services?
Preferred Trust Company provides custodial services. It does not work in the same manner that a company that offers IRA services does. PTC, however, allows you to open an SDIRA with them, by filling in application forms, to shorten the process of looking for an IRA company then getting back to them for their custodial services. You can, however, check out other IRA service providers to see if you’ll get a better deal.
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.
**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
Can you open a Precious Metal IRA with Preferred Trust Company?
No. As we have seen, this company mainly seeks to help you achieve your retirement investment objectives by offering custodial services. If you’re looking for a company that offers gold and silver IRA services, you will have to look elsewhere.
See my #1 recommended gold & silver IRA solution on this page
Fees and payment methods for the services offered by IRA Resources?
There are a variety of fees and charges that you will meet in your life as this company’s customer, as detailed in the fees schedule on its official website. The main ones we can look at are the IRA account admin fees so that you can know what to expect. The annual IRA administration fees are as highlighted below:
- $0-$50,000 – $300
- $50,001- $100,000- $400
- $100,001- $200,000- $500
- $200,001- $300,000 – $600
- $300,001-$400,000- $700
- $400,001-$500,000- $800
- $500,001-$600,000- $900
- $600,000 and up – $1,000.
There’s no information on the accepted payment methods, but you can always consult with the customer support staff at PTC.
Is PTC Genuine or Is It a Scam?
Preferred Trust Company is in my opinion, a genuine company. Having been established back in 2007, the company has managed to maintain its image as one that can be trusted. You can tell from its Facebook reviews that PTC has impressed its existing customers. With a 5-star rating, I’m sure you’d agree with me that this company is doing its best to deliver its promised services in a professional manner.
If you are looking for an IRA service provider, however, you’ll need to work with another company, since PTC is just an SDIRA custodian.
**For precious metal investors –check out these top-rated IRA service providers that offer precious metals IRA Services
Pros and Cons
- Great customer-trust ratings (5-star)
- Detailed FAQ section
- Customer education is taken very seriously
- Fees and charges are higher than what other IRA custodians charge.
Do You Own or represent Preferred Trust Company?
If you are a representative, or associate of Preferred Trust Company and have found something not to be correct in this review please, feel free to tell us 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 us an e-mail to firstname.lastname@example.org.
Overall Rating: (4.2 / 5)
Preferred Trust Company has, so far, played its part as an IRA custodian and admin quite well, as evidenced by the impressive ratings. They have their doors open to a wide range of customers with the exception of fiduciaries IRA owners’ lineal dependents, spouses, or even ascendants, service providers of a given IRA, and entities in which more than 50% stake is owned by a disqualified person. I think PTC is a decent company and one that you can try out if you need a custodian. You may, however, want to take a look at the recommended alternatives below, to see if you’ll get a better deal.
Top-Rated Cryptocurrency IRA Companies (Good Options to Diversify Your Retirement Investment Portfolio)
That will be all for today’s review on Preferred Trust Company, and what it has to offer. I hope you found it helpful and educational. If you still have some questions about it, or the recommended companies, drop them in the comments section so that I can respond to them right away.
I wish you well,
Eric, Investor and Team Member at Gold Retired!