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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Equity Trust Company

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About company

Equity Trust Company is a self-directed non-bank custodian which specializes in providing alternative investments such as real estate, futures, gold, and cryptocurrency. These can also include traditional individual retirement accounts (IRAs), Roth IRAs, Flex IRAs, 401(k)s, stocks, bonds, exchange-traded funds (ETFs), and other alternative assets. The company works with individuals, financial advisers, brokers, and institutions.

Equity Trust Company was established by Richard A. Desich in 1974 as a brokerage company. Brokerage Services Available through ETC Brokerage Services, Member SIPC, and FINRA. Nowadays, Equity Trust Company is located in Westlake, Ohio.

Pros and cons

Equity Trust Company, as an old industry player and a trusted custodian company, has many benefits and a great variety of investment solutions for its customers. However, it has quite controversial reviews which deserve thorough analysis.

Pros 

  • Has outstanding customer service with a streamlined, online application process, numerous investment, and traditional retirement options.
  • Has fixed annual renewal and storage fees and charges no transaction or distribution fees.
  • Equity Trust Company maintains an A+ rating with BBB (Better Business Bureau) and has marvelous Trustpilot reviews. It was named the best overall self-directed IRA-approved Custodian company by Investopedia.
  • Low account minimums of approximately $5,000.
  • If customers have any doubts about a certain Equity Trust Company's service, retirement plan, or fees, they can 24/7 contact a professional advisor.
  • Equity Trust Company saves customers time and simplifies self-directed IRA research by providing a call option with an IRA Counselor.
  • Contributions for clientele are tax deductible, and earnings within the account are tax-free until the withdrawal process.

Cons

  • Has a high $150 annual precious metals storage fee and transfer fees of $50 to $100 per transaction.
  • Equity Trust Company doesn't give personal advice options.
  • The value of investments in stocks is quite unstable. So, customers may not know for sure how much to invest.
  • Equity Trusts offered by the company may be risky as there is no guarantee that customers will get their money back.
  • Judging by customers' reviews, the company does not get in touch with clientele when they call, sending emails with inappropriate information.

Taking into consideration all advantages and disadvantages, the Equity Trust Company can be an appropriate option for financial advisors or business owners looking for investment accounts for their employees and individual investors seeking tax-advantaged accounts. Nonetheless, before choosing this self-directed IRA custodian, it is paramount to do some analysis and consult a financial agent.  

Terms and conditions

Equity Trust Company offers many investment products and tax-advantaged accounts.

  • Individual retirement account (IRA). Withdrawals have to be done starting from 59 ½ years of age. Minimum distributions must begin at age 72. Roth IRA implies paying income taxes on funds with tax-free withdrawals in retirement. If 49 or younger, clientele can contribute up to $6,000 per year. This limit increases to $7,000 if customers' age is 50 or older. Note that this service is eligible for US citizens, regardless of age, with Modified Adjusted Gross Income within allowable limits.
  • A Simplified Employee Pension (SEP) plan is oriented toward self-employed individuals and small business owners. It has an annual tax-deductible contribution of up to $61,000. An employer may contribute up to 25% of each employee's annual compensation. Note that earnings within the account are tax-free until withdrawn.
  • Savings Incentive Match Plan for Employees (SIMPLE) is a retirement plan appropriate for small businesses with 100 or fewer employees and self-employed individuals. Employee contributions in 2022 are up to $14,000 if customers are under age 50, and if older, a catch-up contribution of up to $17,000.
  • As a retirement account, Solo 401(k) is intended for self-employed individuals and businesses with no full-time employees. It has contribution limits up to $61,000. This limit increases to $66,500 if customers are 50 or older.
  • Custodial accounts are the types of savings accounts set up by an adult for a beneficiary, typically a minor or someone younger than 21. They can be used for education, retirement, or general savings.
  • Health Savings Accounts (HSA) are tax-advantaged medical savings accounts designed to help individuals pay qualifying medical expenses. There are contribution limits of $3,650 for self-only coverage and $7,300 for family plans.
  • Coverdell Education Savings Accounts (CESA) is suitable for people who are seeking help to finance a child's future education. Annual contribution limits can't exceed $2,000.

Equity Trust Company

FAQ

What is the Equity Trust Company?

Equity Trust Company is a self-directed IR and a financial management company that offers financial services in the field of investment, tax, retirement, and estate planning.

What types of accounts does Equity Trust Company have?

Equity Trust Company has traditional and Roth IRAs, education (CESA), and health savings accounts (HAS) for individual investors. As for accounts for business owners, they include SEP and SIMPLE IRAs and Solo 401(k) plans.

Is it hard to open an account with an Equity Trust Company?

Opening an account with an Equity Trust Company is an uncomplicated process. The clientele should just make sure that they comply with all the documents' requirements.

Company documents

Terms of use
Privacy Policy

Equity Trust empowers individual investors and financial professionals by removing the barriers to investment freedom.

© Equity Trust Company
Financial products
Equity Trust Company
Tax-Advantaged Accounts for Business Owners
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Equity Trust Company
Tax-Advantaged Accounts for Individuals
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

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