Today we will take a look at Sunwest Trust. What is Sunwest Trust? A scam or a legit investment opportunity for you or not? Are there better alternatives out there? These are some of the questions this short review will focus on.
Company: Sunwest Trust
Owner: Terry White (CEO)
Price: Depends on your investment amount
Who is it for? Precious metals investors
Overall rating: (3.8 / 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 Sunwest Trust!
What is Sunwest Trust about?
Sunwest Trust, Inc. is simply a custodian that serves the local and regional communities.
In 1997 First Financial Escrow, Inc. Purchased the escrow accounts from Sunwest Bank and changed its name to Sunwest Escrow. The company has since then developed and is now named Sunwest Trust.
The physical address of the company is 10600 Menaul Blvd. NE, Albuquerque, NM 87112
How does it work?
The company is an IRA custodian who allows you to invest in many assets.
- Roth IRA
- SEP IRA
- SIMPLE IRA
- Individual 401(k)
- Real Estate
- Precious Metals
- Private Placement (Reg A)
- Private Placement (Reg D)
- Private Placement (e.g., REIT, BDC, etc.)
- Hedge Funds
- Limited Partnerships
- Single-member LLC (or Checkbook LLC)
- Multi-member LLC
- Trust Deeds
- Tax Liens
- Private Lending (Unsecured Notes)
- Private Lending (Secured Notes)
- Private Company Stock
- Public Company Stock (or ETFs)
- Mutual Funds or Closed-End Funds (CEF)Church Bonds
- Livestock, Horses, or similar animals
- Business Development Company (BDC)
- International Real Estate
- International Asset (other than real estate)
Yes, that is being offered. IRAs (as mentioned above) are kind of their main thing.
One thing that might be interesting for you (as an IRA investor) is the fees associated with that. Below you can see the fees, and I have pointed out the “most important one” with the orange arrow below for the yearly standard IRA fee.
Important to mention here: As you can see, the yearly storage fee for an IRA account with Sunwest Trust is $275 per year.
That can be interesting for you to know as alternatives are around three times cheaper per year. Also, some of the absolute top-rated gold brokers and IRA custodians waive the yearly storage fee entirely for up to the first 1-3 years.
Can you get the gold (and other metals) delivered to your home?
This is something that is not clearly explained on their website.
Can you store your investment with the company?
This is again something that is not mentioned on their website. However, I am sure that you at least can store with them through third-party partners as its peers usually do that way.
If you own or represent Sunwest Trust, please feel free to shed some light on this, and I will make sure to update this review.
Can you sell back to the company?
Once again, this is something that is not mentioned on their website.
Can anybody in any country use the service?
No, the services of the company are for U.S. citizens only.
Is Sunwest Trust a scam?
So, is Sunwest Trust a scam? No, it is not a scam. It is a legit custodian. Of course, it would not have survived this long (founded 1997).
It also got an A+ rating from BBB (Better Business Bureau) and zero complaints filled in the last 12 months.
Reviews, ratings, and testimonials on Sunwest Trust:
Better Business Bureau
Current Rating: A+
Complaints: 0 within the last 12 months
Current Rating: 4 stars (out of 6 reviews)
Current rating: 2,5 stars (out of 2 reviews) Click to view reviews (opens in new window)
Current rating: 2,6 stars (out of 25 reviews) Click to view reviews (opens in new window)
Current rating: N/A
Current rating: N/A
Current rating: N/A
Are there any red flags?
Even if the overall score from the reviews and ratings is a bit better than the average, they are not that many. This can (at least for me) be a red flag and something to keep in mind. Especially as some of its competitors got hundreds of reviews from real users online and a much better overall score.
Also, some of the reviews on Sunwest Trust are pretty negative, look at the example below (from Yelp):
How´s the support?
One thing that I always put a lot of weight on when it comes to the quality of support from a company is whether they got a live chat function. Sunwest does not have this, which takes the overall “support experience” down a bit, at least in my book.
They do have an e-mail address and phone number you can call with your questions and inquiries.
Why Should You (Or Should NOT) Join Sunwest Trust?
It is always good to compare the positive sides against the negative before deciding to go with a particular company. Below I have highlighted the points I would think of first of all:
- Wide range of assets
- No hidden fees
- The website lacks support and info
- I got some negative reviews online
- Relatively expensive yearly IRA storage fee (click here for an alternative with low fees)
Do You Own or Represent Sunwest Trust?
If you are a representative or associate of GoldDealer.com 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 Sunwest Trust
Overall rating: (3.8 / 5)
I think that sums it all up pretty well. This is a legit company for sure. The rating of 3,8 is the highest I can give. Based on the overall ratings online, it is a pretty high rating I have shared here.
I have given it a bit higher than most online review/rating sites because I like that Sunwest Trust takes pride and has made it their slogan to be transparent and not have any hidden fees.
That is something that is a BIG + (at least in my humble opinion). There are, of course, other companies that are transparent on their fees, but at the same time, many are not.
If Sunwest is the best choice for you or not, I am not so sure if that is a decision you will have to take on your own. Hopefully, this review has made a choice easier for you.
You have made a wise choice reading this review as it is ALWAYS recommended that you do your research and compare many different companies with each other before you decide based on your research knowledge.
As always, the choice is up to you.
Which Company Do You Recommend?
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!
I hope you found this short review on Sunwest Trust to be helpful, and now you should have a better understanding of what it is and if it will be the self-directed IRA custodian for you or not. If you have used their service, please share your experience with us in the comment section below, as it can help others. Also, if you got any other questions on this review, I will be more than happy to answer them below!
I wish you the best!
Founder of: Gold Retired
Foto credit: SunwestTrust.com