What is Premier Trust? Does it serve specific customers, or does it offer services that anyone can utilize? Are its services worth utilizing or should one keep away stay away from them? Let’s take a detailed look at what Premier Trust is out to achieve, as we answer these and more questions!
Name of the company: Premier Trust
Official Website URL: https://premiertrust.com/
Overall Rating: (3.5 / 5)
Recommended: Not highly recommended
Important to mention (before we go into more details of this review)
We always strongly recommend doing your own research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly and compare different alternatives before you make your decision.
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With that being said, let´s continue with the review on Premier Trust!
Table of Contents
- What is Premier Trust?
- The Service offered by Premier Trust
- How does Premier Trust Work? (How to Get Started)
- Does Premier Trust offer IRA services?
- Can you open a Precious Metal IRA with Premier Trust?
- Fees for the services offered by Premier Trust
- Is Premier Trust Genuine or Is It a Scam?
- Pros and Cons
What is Premier Trust?
Premier Trust exists as a Nevada-based and chartered Trust company that has its offices in Las Vegas and Reno. Its staff members in the two locations are charged with the provision of independent administrative trustee services to those clients residing in the United States, who would like to leverage Nevada’s laws. According to the owners of Premier Trust, Nevada has some of the most favorable trust, corporate, tax, as well as asset protection laws, which can in one way or another enable an investor to maximize on their investment earnings.
It is good to highlight that Premier Trust only administers trusts, and it does not manage investments or even offer legal advice. Clients who turn to Premier do not give up the relationships that they have with their financial advisors, attorneys, as well as CPAs.
This Trust has been around since 2001 and claims to be the largest company of its kind in Nevada. In the 20 years of its existence, Premier Trust has managed to build solid relationships with financial professionals, individuals and families, and attorneys.
The Service offered by Premier Trust
Premier Trust administers trust services to its customers. As we have already established, it does not offer other services besides these. If you reach out to this company today, you will be referred to one of its three departments to get help with the achievement of your investment objectives. The departments are:
You can get help with a wide variety of trusts in this department, including dynasty trusts, charitable trusts, agents, life insurance trusts, Special Needs Trusts, revocable trusts as successor trustee, as well as irrevocable trusts as replacement trustee.
In this department, you’ll get attended to by staff members who are well-versed with decanting, directed trusts, dynasty trusts, beneficiary defective inheritor’s trusts, Nevada Self-Settled Spendthrift Trusts (DAPTs).
You can also benefit from Premier Trust’s custody service, which is suitable for Traditional IRAs, Roth IRAs, Rollover IRAs, SEP IRAs, and Beneficiary IRA.
How does Premier Trust Work? (How to Get Started)
Premier Trust welcomes all new customers to get started with them by either calling or emailing the support staff, or by filling out a form and waiting for a trust officer to get back to you in less than 24 hours. Either approach is bound to work just fine, with the promise being that you will speak to an expert, not staff in a call center. A trust officer will listen to what you have in mind and provide the necessary guidelines on how to grow your wealth.
Does Premier Trust offer IRA services?
This company only offers custodial services for people who own/hold IRAs. Their main objective, however, as we have already seen is to administer trusts. Customers who approach Premier Trust in need of custodial services are those who would need help with the provision of services related to the custody of their non-traditional assets inside their IRAs. You may have to contact the support to get a good understanding of the approach used to achieve this, but Premier does not explicitly offer IRA services.
If you are looking for a company that offers IRA services explicitly, you may have to look elsewhere.
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.
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Can you open a Precious Metal IRA with Premier Trust?
As already stated, Premier Trust offers custodial services to those who would like to open self-directed IRAs. With such an IRA, you have the freedom to hold assets that most other IRA owners would not be in a position to hold. SDIRAs give you the freedom to invest in a wide range of non-traditional investments including real estate, notes, private placements, precious metals, etc.
Note that Premier Trust will only be of value to you as a custodian of the assets you hold in your IRA.
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Fees for the services offered by Premier Trust
Depending on the type of service provided to you by Premier Trust, you will pay different fees and charges. Here is an example of what you can expect:
Personal Trusts – Continual Administration (annual fees)
- 60% of the first $1,000,000 invested
- 50% of the next $1,000,001 – $2,000,000
- 35% of the next $2,000,001 – $5,000,000
- Negotiable fees for amounts over $5,000,000
- Minimum Fee: $3,000
Trust Settlements –Outright Distribution
- The one-time settlement fee is 2% of the fair market value of the assets held in the trust.
Irrevocable Life Insurance Trusts (ILITs)
The minimum annual admin fee is $2000.
Nevada Trusts – Asset Protection Trusts
- The minimum annual fees are $3000
- $100 annual distribution discretion fee
Special Needs Trust & Guardianships
- 85% of the first $1,000,000
- 75% of the next $1,000,001 – $2,000,000
- 65% of the next $2,000,001 – $5,000,000
- 25% over $5,000,000
- Minimum Fee: $4,000
- Annual fee- $600
- $175 initial set up fee
- $200 termination fee
Is Premier Trust Genuine or Is It a Scam?
Premier Trust is in my opinion a genuine company. It has been serving its customers since 2001. Beyond that, it is a BBB-accredited business that has an A+ rating. Better Business Bureau takes into consideration several factors that relate to a company’s professionalism, and it seems like Premier Trust is a professional company. Unfortunately, the rating does not take into the account customer experience.
A look at the consumer trust rating on BBB shows that this company has a rating of (1/5) stars, which is quite low. As much as this rating is based on one customer’s feedback, there’s not much to prove that this company offers better services. I don’t know about you, but in such a situation, I’d rather check out what the alternatives have to offer.
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Pros and Cons
- Serves individuals, families, professionals, and attorneys
- A+ rating on BBB
- Has been around for 2 decades
- Low consumer trust ratings
- Fees are quite high
- The minimum fees are quite high
Do You Own or represent Premier Trust?
If you are a representative, or associate of Premier Trust 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: [ usr 3.5]
From the much we have gathered about Premier Trust, we can tell that it is a company that offers a defined range of services to a defined range of clients. Were it not for poor consumer trust ratings, I would be recommending them as a go-to company, for those who need to save for their retirement years through a trust. At this juncture, I’d check out other alternatives, such as the ones below:
Top-Rated Cryptocurrency IRA Companies (Good Options to Diversify Your Retirement Investment Portfolio)
That will be all for this review on what Premier Trust is about. My hope is that it helped you determine whether or not you’d like to utilize its services to achieve your financial objectives as you head to your retirement years. Let me know what you think about this company, and whether you’d rather rely on it, or its alternatives. You can also share your experience with other readers, if you have used its services in the past.
I wish you well,
Eric, Investor and Team Member at Gold Retired!