Provident Trust Group is an investment and wealth management company. Provident’s goal is to create a legacy of freedom for their clients, and they work hard to make sure that all person has the opportunity to live with financial security. Provident offers portfolios with personalized investments and individualized advice on how to achieve your goals. Provident also provides retirement planning services that can help you prepare for life after work!
About Provident Trust Group: Overview
What is Provident Trust Group?
Provident Trust Group is a company in Las Vegas, Nevada. It is privately owned and independent. Provident Trust Group can help you with your IRA accounts. They can make sure that the money is safe and secure. They also offer other escrow accounts, self-directed IRAs, and asset custody services. Provident Trust Group doesn’t want to waste time on red tape. They are attentive to meeting people’s needs, and they believe that is the most important thing.
Provident Trust Group has served customers in 50 states for over ten years.
Provident Trust Group requires to work on things. For example, they need to ensure that they have a strong reputation and a wide customer base.
The fee structure is actually complicated. You need to be cautious about how it works. It can be hard for customers to know how much they will pay because we have set up annual fees. But the transaction fees change depending on what you buy, and how many things, so it is hard to know exactly.
Investors will have to deal with this with any IRA provider. What Provident Trust Group does is just too hard for us.
This review is about the benefits and advantages of choosing Provident Trust Group. But you should also look at other companies with IRA providers before you decide on which one to use.
About the Management Team and Board of Directors
The Provident Trust Group manages 34,000 clients across 50 states. That is very impressive for a company that has only been around for ten years. The company website does not list anything about the management team. We looked on LinkedIn to find out information about the company leaders.
Jeff Irman is the leader of trust compliance. He has been with Provident Trust Group for less than two years. Before that, he was the administrator of compliance at Charles Schwab Trust Company.
Segi Vasilyev is the Vice President of Technology. He has been with this company for more than six years. He went to school at the University of Nevada.
Jim Heiden is the leader of Sales & Marketing. He has been in this position for four years and worked for two other companies before joining Provident Trust Group.
We have a lot of information for you about the company’s executive team, but what matters the most is what customers think about this company.
Why Equity Institutional is Ranked #1 IRA Custodian of 2020
To make a list of the top 10 IRA custodians, we looked at 37 different companies. But we did not show all of them. We only showed the ones that were in the final table. They have done a lot of research into the history, features, reputation, and fees for IRA custodians. We have found that each company is very different – some are good at one thing and not so good at another.
- Partnered depositories and storage options are preferred.
- It is best to find out if storage fees are included in the annual charge. Some companies will make you pay the storage fees on top of the renewal fee.
- setup charges and account startup cost
- Some companies charge an annual fee. This is either a flat price or a sliding scale.
- This company is known for its reputation and has a lot of industry presence.
A company that is good at doing things well, like holding other people’s money, was ranked the #1 custodian this year. This is because they partnered with another company that helps people invest in gold.
Investing Account Options at Provident Trust Group
At the end of the day, different types of accounts at self-directed IRA companies represent different investments. The account types still affect retirement. Personal investors and businesses can have different tax implications for the different account types.
Provident Trust Group offers different types of IRAs. They are Traditional, Roth, SEP, SIMPLE IRA, Inherited IRA, and individual 401(k) plans.
The Traditional IRA permits you to take a tax break when you contribute. But when you withdraw money, it will be taxed. The Roth IRA does not allow tax breaks during contributing years, but the money is not taxed when it is withdrawn.
SEPs and SIMPLE IRAs are for people who own businesses. They can include people who are self-employed or even if the business has less than 100 employees. This is because it becomes an expense for the business, and then the employee also benefits.
It is possible for big businesses with more than 100 people to register 401(k) plans. These plans come with many options. The company can match the employee’s contribution up to a certain percentage of their salary. Most companies and individuals won’t use this kind of plan because it costs more money to set up and administer it.
Provident Trust Group Services and Fees
Since Provident Trust Group is a custodian for IRAs, they provide services to people with IRAs. Here are the types of IRAs and what it costs to have them.
One-Time Establishment Fees Annual Custodian Fees
- Traditional and Roth IRA $50 $395
- SEP and SIMPLE IRA $150 $445
- Individual 401(k) plan $150 $445
- Health Savings Account $150 $135
- Coverdell Education Savings Account $50 $395
- Inherited IRA $50 $395
- Custodial Accounts $50 $395
The Self-Directed Account has a $295 annual fee. With this account, you will be using it. The fee does not include the storage of precious metals.
Basically, if you are paying for the storage on your own, but other companies do not have this price. Some companies offer free storage services.
How to Get Started with Provident Trust Group
Unfortunately, you cannot start an account on the website of Provident Trust Group. You need to contact them, and they will do it for you.
You can do that by doing the following:
Physical Address: 8880 W. Sunset Rd., Suite 250, Las Vegas, NV 89148
PHONE: (888) 855-9856
FAX: (702) 253-7565
EMAIL: [email protected]
The Pros and Cons of Provident Trust Group
- It is well known
- The CEO is a professional
- Offers various IRA services
- Received a lot of complaints
- Storage fees are not included
- An annual fee is more expensive than other fees.
- No live chat feature on the website
- It has a lot of negative reviews
- Low ratings
- Not BBB accredited
Provident Trust Group Company Customer Ratings and Reviews
Is Provident Trust Group a scam?
The company is not a fraud. It does provide services and has been operating for a long time. There is no way it could have lasted as long as it has if it wasn’t real.
However, the poor ratings and negative reviews are telling. Many of the comments are from people who had done business with them. That’s why, in the end, this information is a caution for you. The final choice will always be yours to make.
Augusta Precious Metals
Augusta Precious Metals is a company of experts who are highly educated. They can help you with your problems if you let them. Firms can offer their customers non-IRA gold and silver. This is not the case with other firms, which only have precious metals IRAs as one of many products.
This company offers a lot of good services. They have free helpful resources, a simple process, and competitive prices for common items. They are honest and give people transparency. If you want to know more, ask other people who use their service because they will tell you the truth.
Augusta is a company that provides people with gold and silver. They are open, simple, and give service.
American Hartford Gold
American Hartford Gold is a family-managed business that helps people to diversify their portfolios with precious metals. This includes silver, gold, and platinum coins and bars.
The Gold IRA is a new way to invest in gold. This means you will buy real metal and put it in your IRA account.
American Hartford Platinum gives information about the market for gold and silver, which could be helpful when you are making decisions.
They want to show investors this data so they can make the best decisions. This will not influence investors because it is free.
The BBB has given this company a high rating. They have been accredited by the BBB, and there are over 200 reviews on Google and Trustpilot. You can look at these reviews to find out if they are good or not.
Goldco is a company based in Woodland Hills, California. It offers self-directed precious metal IRAs as an alternative to traditional assets.
They can help you with a lot of things. They sell investment options and precious metals. These are good for different things.
If you invest in Goldco, you can get the product right away. It’s of high quality according to reviews. There are little things that you should think about before proceeding, though.
It is important for any precious metals company to have good communication with their clients. This is true for all companies, and this sentence reflects that. It is important to have access to good information while making decisions because it will help you make the best decision possible.
Provident Trust Group is a popular and respected IRA custodian. They offer many services, including trustee, agent, co-trustee, custodian, and successor trustee for their clients. If you’re looking to set up an Individual Retirement Account (IRA), do some research on the different types of accounts that are available in your state. You may find that one type could be more beneficial than another, depending on your situation or what you’re trying to achieve with your retirement savings account.