Poor
Based on 12 reviews
Preferred Trust2.3Honesty, pricing, process and quality scores appear once 5 customers have rated them.
Preferred Trust is a Retail Trust Company licensed, regulated, and examined annually by the Nevada Financial Institutions Division. We facilitate the role of both custodian and administrator for self-directed IRAs which allows us to provide the highest level of customer service in the industry while also facilitating the quickest funding in the industry.Founded in 2007, our mission has remained the same, to provide individuals with the opportunity to expand their retirement investment options outside of typical stocks, bonds, and mutual funds. We strive to educate individuals about the power of investing in alternative assets through a self-directed IRA. This wealth-building education enables clients to expand their knowledge of how to invest outside of the stock market and empowers them to take control of their financial future.
Preferred Trust (preferredtrustcompany.com) has 12 customer reviews on Folks Told, with an average rating of 2.3 out of 5.
Showing 8 reviews with 1 star · Clear filters
Bernard R.
Do not do business with this company. They do not return calls or keep you updated on the progress of your deposits and withdrawls. Once you are lucky enough to speak with a representative, don't expect quick actions. Be prepared to wait for days and even weeks.
Greg C.
I got into this Trust from Goldco. Neither goldco or Preferred Trust have very good customer service. I'm even trying to give them money and they don't respond. After many many attempts over the last year I have never been connected to a live human. They also don't do anything on paper. Its email nothing. Once Goldco got my money I have never heard from them again. Same with Preferred Trust. Looks like it's lawyer time.
Richard M.
I don't think it's a coincidence that u must maintain a $500 cash bal! It's it funny that exactly how much it cost to get my silver, $300 to close account? "CAN U SAY STEAL" Who the hell charges $300 to close an account? And $200 for the forms? Ridiculous? Then they want me to annie up shipping cost? It's costing a small fortune to keep my silver and and any profit I would make for the next 5 yrs?
Angie
Horrible customer service. Mrs. Trembly made it a miserable experience to get my crypto transferred. If you have any problems-File a complaint with the state of Nevada financial division - Watch how fast she moves.
KenH
Trembly is a nasty woman stay away
Colleen Garman R.
HORRIBLE!! If you ever want to move your funds, they make it next to impossible to do so; it seems they hope you'll just give up so they can continue to draw their fees. Unable/unwilling to provide supporting IRS documentation for their requests, nor do they have any resemblance of a SOP for transferring funds. Every time we asked for a simple list to make the process easier, they refused. Customer service is not in their vocabulary. The Transfer Department, in particular was not even slightly consultative and was extremely rude, condescending, confrontational and failed to follow-through with anything. She would not listen and constantly interrupted and threatened to terminate the call if she didn't like the question (when I was able to get a word in).
Kenny B.
Terrible customer service. Their admin is very nice but once you get past the front line you will be dealing with rude individuals who think they know more than they actually do. They will do anything to hold up your requests in order to charge more fees. Good advice is: Avoid them and find a REAL trust company. Look at their website if you're a client. No secure communications, no real UI like other companies. They deal in FAX or insecure email. Of course you can mail through the USPS but I really don't trust that mechanism, but suit yourself.
Stephen Mark U.
I had the displeasure of dealing with this company in 2019. Setting up a self-directed IRA at Preferred Trust Company was about average to slightly below average in difficulty. But then the problems began. Fees to hold one investment were very high, close to $500/year. After sticking it out for a while I made the decision to move this one smallish investment to another firm. The attitude of the folks at Preferred Trust Company did a 180 and it soon became apparent that they were going to do everything in their power to hinder this simple transaction and make things as difficult as they possibly could to retrieve transfer these funds. The reps were extremely nonhelpful to downright rude during this process and Preferred Trust Company added even more fees to make this happen. The IRA now sits at a company called Mainstar Trust whose fees are 1/3 of Preferred Trust and whose reps could not be more pleasant and helpful. Avoid Preferred Trust Company if at all possible.
