Today we will take a look at Provident Trust Group for you. What is Provident Trust Group? A scam or a legit investment company? Will it be your pick, or are there better alternatives out there? These are some of the main questions this short review will focus on. Ok, here we go!
Company: Provident Trust Group
Website: www.trustprovident.com
Owner: Theresa Fette and Jason Helquist (founders and CEOs)
Price: Depends on your investment amount
Who is it for? Mainly retirees looking to invest
Overall rating: 
(2.5 / 5)
Essential to mention (before we go into more details of this review)
We strongly recommend doing your research online before choosing a company to invest in. 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.
One example: 99.9% of companies got “pushy” salespeople trying to stress you into acting fast.
Here is the thing, the #1 Recommended Gold & Silver IRA Dealer on our top-5 list got No-salesy representatives… So they won´t bother or terrorize you with phone calls.
You are an intelligent person, so I am sure that you understand the benefits of dealing with such a company instead, right?
+They got a couple more benefits you might appreciate as much as I do. You will understand yourself once you have visited the page (link) above.
==> See our Top-5 List of Precious Metals IRA Companies on this page <==
With that being said, let´s continue with the review on Provident Trust Group!
What is Provident Trust Group about?
Provident Trust Group (PTG) is one of the most popular IRA custodians in the U.S., with more than $3 billion worth in assets and more than 34,000 clients in 50 states. The company’s headquarters is in Las Vegas, Nevada, and was founded in 2007 by a team of professional and qualified tax attorneys.
Its physical address is: 8880 W Sunset Rd #250, Las Vegas, NV 89148, USA
How does it work?
PTG can serve as the agent, trustee, co-trustee, successor trustee, or custodian of an IRA account.
The Products & Services
- Traditional IRA
- Roth IRA
- SEP & SIMPLE IRA
- Individual 401(k) Plan
- Health Savings Account (HSA)
- Coverdell Education Savings Account (ESA)
- Inherited IRA
- Self-Directed Account for Qualified Plans
IRAs?
As mentioned above, IRAs are kind of their main service, so yes.
Below you can see a screenshot from their website on their fee schedule for opening the different types of IRAs with them:
Important to mention here:
The only thing you (as a GOLD IRA investor) should note here (in the screenshot above) is the bottom nr – the annual cost of a self-directed IRA, as this is the account you´d be using.
Their steep annual fees of $295 do not include precious metals storage… You are alone responsible for paying the storage fee every year.
This is something that many of its competitors on the market do A LOT different as they many times cover the cost of storage, at least for the first 1-3 years.
***See our #1 recommended Gold & Silver IRA solution instead!
Can you get the gold (and other metals) delivered to your home?
No, you can not get your investment delivered to your home.
**You are not able to store IRA gold at home anyway as it is not allowed.
Can you store your precious metals with the company?
The company offers storage options for you, not by themselves but by their partners. The storage option you have is the well-known Delaware depository.
As mentioned above, you are alone responsible for paying the annual fees for storage with the company.
==>Click here to read about the #1 rated IRA custodian instead (Many benefits)
Can anybody in any country use the service?
This is something that is not mentioned on their website, so you can (most likely) assume that their service is for U.S. citizens only.
Is Provident Trust Group a Scam?
So, how about the Provident Trust Group complaints? Are there any? Is it even a scam? No, it is not a scam. It is a legit company, of course. Even if it is relatively new (founded 2007), there is no way that it would have survived this long (15 years) if it wasn´t a legit one, right?
However, if it´s your best bet out there is a whole other story, and that leads us to the:
Provident Trust Group Reviews & Ratings
BBB (Better Business Bureau)
Rating: 
(1 / 5) (NOT Accredited) click here for details (opens in new window)
Trustpilot
Rating: N/A
BCA (Business Consumer Alliance)
Rating: N/A
Trustlink
Rating: N/A
Yelp
Rating: 
(2 / 5) (out of 32 reviews) click here for details (opens in new window)
As you clearly can see above the reviews on Provident Trust are not really impressive, quite the opposite actually. When you look on the BBB website you also find that they are NOT an accredited business by the BBB.
We didn´t find anything on the Trustpilot website either, and that can actually be a bigger concern. Why? Well, because that is the only place where you can be sure that the reviews are written by real customers of the particular company that is listed.
Are there any red flags?
There are complaints about them online that are easy for anyone to find. Below is an exact excerpt from a “not so happy” user:
Extremely tedious to get anything done by them. The required a written, original request be overnighted to their distribution department. Then when I was told it would be faster to wire money out from the account, It took five days to get federal funds transferred despite paying for expediting. I was also given bad advice by someone who told me not to pay for the same transfer because I had missed the cut-off time for that day. I was told regular expedited would go out the following day. It didn’t. The following Monday, it went out right at the close of business. I was not able to access funds till Tuesday. I missed a dividend cut-off date. They charged a $150 a year fee for using them, a $250 fee for the closing account, $50 for a transfer. $50 day for the expedited wire that is not expedited. They cost me $1000’s in lost dividends. If you like slow business and high fees, go with PTG LLC.
If you want to read more reviews (some pretty bad) from real users, head over to the Yelp website by clicking the link above.
Here are a few more (see screenshot below):
Another site where you will find some very negative reviews is GlassDoor.com (click to open in new window)
Here is another exact excerpt from a complaint by a real user:
Extremely tedious to get anything done by them. The required a written, original request be overnighted to their distribution department. Then when I was told it would be faster to wire money out from the account, It took five days to get federal funds transferred despite paying for expediting. I was also given bad advice by someone who told me not to pay for the same transfer because I had missed the cut-off time for that day. I was told regular expedited would go out the following day. It didn’t. The following Monday, it went out right at the close of business. I was not able to access funds till Tuesday. I missed a dividend cut-off date. They charged a $150 a year fee for using them, a $250 fee for the closing account, $50 for a transfer. $50 day for the expedited wire that is not expedited. They cost me $1000’s in lost dividends. If you like slow business and high fees, go with PTG LLC.
As you can see, there are some pretty serious complaints online, and the online reviews and ratings do not (in my opinion) impress at all.
==> See our Top-5 List instead
How´s the support?
One thing that I always put a lot of weight on when it comes to supporting is a live chat function. Unfortunately, Provident Trust Group does not have this function on its site.
This takes the overall rating/score down a bit.
They do have the regular e-mail address and a phone nr for you to connect with them, though, for your questions or other inquiries.
Why Should You (Or Should NOT) Invest with Provident Trust Group?
With the red flags laid out (further up in the review) and the other info about the company, you now have a better overall picture of it.
Of course, the wide range of investment options is good if you are interested in a wide range of investments.
So if that is you, then Provident Trust Group might be for you.
However…
If you are looking for specifically precious metals and IRAs, you might want to check on other alternatives because of waived fees for the first year (or years) and because there are options out there with way fewer complaints.
There is one alternative that got ZERO complaints (!) and a lot of other benefits.
**Click here to read more about that one instead!
Provident Trust PROs & CONs
The Good
- Offers a wide range of investment options (not only precious metals)
- Have well-known owners
- Over 34,000 clients
The Bad
- The negative reviews online
- You have to pay the annual fees for storage on your own every year
- The yearly $295 admin fee is one of the highest in the industry
- No live chat function (and also lack of some info on website)
Do You Own or Represent Provident Trust Group?
If you are a representative or associate of Provident Trust Group 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 else you get the e-mail on the about page.
Final Words and Verdict on Provident Trust Group
Verdict: Legit
Overall rating: (2.5 / 5)
Ok, this is, without a doubt, a legit company. However, there are also some pretty serious complaints online from real users, and they are easy for anyone to see.
The rating of 2.5 out of 5 feels like a fair one. It can not be a higher one (in my opinion) since there are some pretty serious complaints online. Also, the lack of reviews, and those that are to be found aren´t very positive…
We always make sure to update these reviews if there should come up any “news,” but for now, 3,9 stars it is.
As always, it is up to you.
Which Company Do You Recommend?
When first looking to invest in a precious metals IRA it might look like a straightforward process. Even if most gold brokers and IRA custodians are “legit,” they can differ in guidelines and fee policy.
So, it is highly recommended to look at all options before deciding.
The safest and most “financially smart” for anyone interested in an IRA would be to research and compare the different options.
You might want to look at first the reputation, annual fees, and policies of the top precious metals IRA custodians and brokers before you make your pick.
If you are looking for a reputable gold IRA custodian besides any other company, you should check out Augusta Precious Metals.
Augusta Precious Metals has ZERO complaints from A LOT of real users. They are used by celebrities respected by well-known publications and websites.
And A LOT more benefits!
Click here to learn more about Augusta Precious Metals (my #1 recommendation)!
I hope you found this short review on Provident Trust Group to be helpful, and now you should have a better understanding of what it is and if it is something for you or not. If you have used any of its services, please share your experience with us in the comment section below to help others. Also, if you got any questions about this review, I will be more than happy to answer them below. Thank you for reading.
I wish you the best!
Michael
Founder of: Gold Retired
Really good review on Provident Trust Group, thought I am not an investor – and I don’t really have anything to invest with (yet… ) I really appreciate your honest and straight forward review of this investing group.
From what I read, I don’t think I would invest with them, as the sample reviews you have given give me an ‘uneasy’ feeling about their way of dealing with people.
When something starts to be encumbered it usually means trouble.
My motto in life is “Keep It Simple!”. Investing should not be complicated!
Thanks for this review John =)
Orion
Thank you Orion!
Glad you liked the review and found it helpful!
/Sincerely
Hello JohnMks,
Great Review on Provident Trust Group! I have no prior knowledge of investments, so this really interests me because I’m always searching for ways to make money.
In all honesty, if I had the fundings to invest with a company, it most likely would not be with PTG since the reviews seemed to show little care about their clients.
Also, the storage of metal seems a little too complicated and with so many fees including storage fees. I wonder if it is even worth it in the end.
However, I love your honesty and unbiased review.
– Eric
Yeah well, if you just going to invest a small amount it is probably not “worth it” in the end, a bigger investment is more natural to do when it comes to this kind of investments. However, as I mentioned in the review there are companies that got much lower fees and some of them even waive the fee completely for up to 3 years.
This one for example: https://startmakestopwaste.com…
Hope that helps!
Sincerely
Run, don’t walk, away from them. Service has gone way downhill since they merged with a bigger company a year or so ago. I have recommended numerous clients and friends to them, making fun of Millenium, and now i regret it. here is my story; you judge:
They singed paperwork and funded, six months ago, a new position, multi draw. However, they forgot or failed to create a position in my statement for this investment. About a month ago i notified them of a new capital draw notice for this position, they said they had to create the first investment in this security on their screen first before funding this second capital draw, they seemed to be on it, but in spite of at least half a dozen calls with people there and emails, nothing. I informed them I would be in risk of default and forfeiture if they did not fund it in time — crickets. Mind you, I have more than enough cash in my account there to fund this drawdown (or so my account statement says — is the cash really there? Ask yourself who regulates them — I am trying to find out now).
First of all, thank you for your comment, and for sharing your experience,
am sure this will help others to think twice,
feel free to come back here and tell us how it pans out for you in the end,
thank you again,
/Sincerely
I have worked with them investing in excess of 4 million dollars of clients funds in several types of safe money accounts and have found the employees and supporting staff to be very professional . As a trust company they are subject to strict fiduciary rules both federal and state regulations as are other licensed custodians.
Hi there, thank you for your comment,
and for sharing your experience.
Was it a long time ago you quit there? Or maybe you are still working for them?
Thank you again for your comment!
/Sincerely
i regret investing in this co. where is my money as promised. 10 years now and nothing. nothing but scams, fraud, and a lying pyramid scamdon’t invest in this co. whether if it’s provident, tosoro, life settlements or golden eagle 16. you will be so sorry. as we speak i am hiring a bunch of lawyers, to get my money back, and procecute them for stealing from others and lying to get their money. they will pay all lawyers fees and everything else they have done to scam others. they should be in prison. a long with the other c.e.o.s and scammers there. do not in invest in this co.
First of all, thank you for your comment.
Also, it is great that you share your experience about this company, very sorry to hear about the very bad experience you apparently had.
You sharing this will help others to think twice, please feel free to come back here and share any progress in your case as well, or if there is something else you feel would be important for others to see.
Thank you again.
/Best