Preferred TrustReviews of preferredtrustcompany.com

Trembly is a nasty woman stay away

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).

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.

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.