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Equity Trust

About Equity Trust

Equity Trust offers custodial services for investment in alternative assets with individual retirement accounts, back-office solutions for brokerage services, directed trustee services, and more. It primarily serves individual investors, financial professionals, and institutions. Equity Trust was founded in 1974 and is based in Westlake, Ohio.

Headquarters Location

1 Equity Way.

Westlake, Ohio, 44145,

United States

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Latest Equity Trust News

Equity Trust review: Invest in alternative assets, stocks, and more

Nov 28, 2022

Limited crypto selection Note: The prominent crypto exchange FTX recently filed for bankruptcy, setting off a chain reaction impacting other exchanges and leading various cryptocurrency values to plummet. Until the dust settles, proceed with extreme caution; it may be wiser to park your funds in a  high-yield savings account  until the crypto market stabilizes. Bottom line: Equity Trust's  overall investment selection is unbeatable compared to other popular self-directed IRA (SDIRA) custodians, and it offers a wide range of account types for both individuals and institutions. You may want to look elsewhere, though, if you're in search of lower fees. Its crypto transaction fees and account fees are on the higher side. Insider's Featured Investing Apps Overall, Rocket Dollar is the cheaper choice for those looking to park alternative assets in an SDIRA. You'll either pay $180 or $360 per year, depending on the plan you choose. And when it comes to annual fees, both options are cheaper than Equity Trust's two plans. For instance, its most basic plan costs $249 per year, while its premium plan has a $499 annual fee. But Equity Trust is a better option for investors who want a diverse range of investment choices. Plus, you can avoid hefty setup fees with this provider. Ways to invest with Equity Trust Self-directed accounts When it comes to its account selection, Equity Trust offers multiple types for individuals. These include traditional self-directed IRAs, Roth self-directed IRAs, Coverdell Education Savings accounts , and health savings accounts . And since most SDIRA custodians limit their account types to IRAs, Equity Trust is a better option for those in search of flexibility. Its investment selection furthers this, allowing you to buy alternative assets like cryptocurrencies, real estate, precious metals, private equity, and loans. However, its crypto selection — which includes bitcoin, bitcoin cash, chainlink, ethereum, ethereum classic, litecoin, stellar lumen, and zcash — is limited. Plus, one drawback about these offerings is that you'll pay 2% for buy transactions. However, one way Equity Trust arguably makes up for this is by offering additional access to other crypto providers (these include Coin IRA , BitIRA , BitTrust IRA, BlockMint , and My Digital Money). If you're looking for more cryptocurrencies, you'll be better off searching elsewhere. For instance, Alto IRA offers more than 200 cryptocurrencies. Traditional investments In addition, Equity Trust even allows for investments like stocks, ETFs, bonds , mutual funds, and other public assets. This is uncommon among most SDIRA custodians, so Equity Trust users get the best of both worlds. This is possible thanks to its affiliate, ETC Brokerage Services. Online mutual fund trades through Equity Trust are free, and ETC lets you invest in other securities. You'll just need to call the brokerage to add those to your portfolio. Account setup seems fairly simple for Equity Trust's traditional offerings, but you can also work with one of its specialized counselors to get your portfolio established. Business accounts The platform additionally offers institutions custodial options for investments like cryptocurrencies, private equity, precious metals, real estate investment trusts (REITs) , and private debt. Plus, businesses can take advantage of its self-directed SEP IRAs and SIMPLE IRAs, along with solo 401(k)s and Roth solo 401(k)s. It also has an account management technology, called myEQUITY, that helps financial professionals with the account setup and maintenance process for their clients. As for fees, you'll pay $50 for account setup and $500 for digital asset platform establishment. Equity Trust also has several other fees that vary based on account type, number of accounts, storage, and other factors. You can see its full institutional fee schedule here . Equity Trust: Is it trustworthy? The Better Business Bureau gives Equity Trust an A+ rating. BBB ratings reflect its opinion of how well a company interacts with its customers, and this is the highest rating a business can receive. These ratings don't guarantee that a company will be reliable or perform well, though. It's equally important to do your own due diligence when assessing an investment platform. But as for its process, the BBB considers an array of factors — including type of business, time in business, licensing and government actions, advertising issues, and customer complaint history — when evaluating companies. The company's record is clear of any lawsuits or scandals over the past couple of years. Its BBB profile shows Equity Trust has closed 42 complaints in the last 12 months. Equity Trust — Frequently asked questions (FAQ) What kind of company is Equity Trust Company? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Equity Trust is a directed custodian and financial services company. It offers brokerage products through ETC Brokerage Services. How long has Equity Trust been in business? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Equity Trust dates back to 1974, and the company was approved as a self-directed IRA custodian in 1983. Who owns Equity Trust? Richard Desich is the owner and founder of Equity Trust. Related terms Self-directed IRA: These IRAs are strictly for alternative assets like cryptocurrencies, real estate, and precious metals. Crypto wallet: These storage vehicles are designed for digital assets like bitcoin and ether. You can typically either set up a hot wallet (i.e., a crypto wallet that uses software or online storage technology) or a cold wallet. The latter relies on hardware for storage. Cryptocurrency: Created in 2009, cryptocurrencies are digital assets that rely on blockchain technology for decentralized (i.e., cryptocurrency holders can exchange these assets without a centralized institution like a bank) transactions. Traditional IRA: These accounts are available to those who are at least 18 years of age with taxable income, and they let you contribute up to $6,000 per year (or $7,000 if you're older than 50) in pre-tax dollars. You don't have to pay taxes on the money in your account until you make withdrawals at age 591/2 .

Equity Trust Frequently Asked Questions (FAQ)

  • Where is Equity Trust's headquarters?

    Equity Trust's headquarters is located at 1 Equity Way., Westlake.

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