Horizon Trust Company Reviews 2023

Looking for a reliable self-directed IRA custodian that can help you diversify your investment portfolio with alternative assets? Read our detailed review of Horizon Trust Company to get the facts.

What Is Horizon Trust Company?

Based in Albuquerque, New Mexico, Horizon Trust Company is a firm which aims to help investors take advantage of tax-free investments through a self-directed IRA. The company provides both custodial and consultation services through their official website. Client education is a top priority at Horizon Trust Company, and they’ve dedicated a whole section of their website to explaining how to open a self-directed IRA.

Company Info

Location:

Albuquerque, New Mexico

Address:

2501 Yale Blvd SE #304, Albuquerque, NM 87106, United States

Year Founded:

2011

Management:

Greg Herlean (President), Andre Jolley (Vice President)

Website:

www.horizontrust.com

Overall Rating:

[usr 4]

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Horizon Trust Company Products

As an established custodian, Horizon Trust Company offers various self- directed IRA accounts as well as escrow services.  Available accounts include SEP IRA, Traditional IRA, Individual 401 (k), SIMPLE IRA, Roth IRA, Health Savings Account and Education IRA. These accounts give you a great opportunity to diversify your portfolio with numerous alternative assets. Some of the allowable alternative assets at Horizon Trust Company include Real Estate, Private Placement, Tax Liens, Trust Deeds, precious metals and much more.

How Horizon Trust Company Works

Horizon Trust Company offers most of their services through their website. They have fully explained the process of opening a self-directed IRA in their video. Basically, you are required to open a new a self-directed IRA with them and then roll over or transfer money from your current IRA account to the new account. Horizon Trust will help you throughout the paperwork process and work with your current custodian to see to it that the funds transfer is expedited as quickly as possible. Once your new self-directed account is set up and funded, you can then proceed to invest in alternative assets of your choice.

Horizon Trust Company Fees

Horizon Trust Company charges $350 flat fee to activate your self-directed account. Annual administration fees will range from $225-$1000 depending on the value of your assets. Account termination fee at Horizon Trust Company is $300.

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Pros of Horizon Trust Company

• Excellent BBB Rating

The company boasts excellent ratings on one of the most trusted third party review website, the BBB. However, they are poorly rated in most other online platforms.

• Offers Numerous Accounts

As we’ve noted, Horizon Trust Company offers multiple self-directed accounts, therefore allowing you to diversify your portfolio with multiple assets.

• Provides Education

They prioritize customer education and have a detailed video explaining how to open a self-directed IRA. Also, their blog is filled with articles explaining the importance of self-directing and how to avoid fraud.

• Run By and Experienced Manager

You will definitely benefit from the experience and guidance from the company’s manager and CEO, Greg Herlean, an experienced investor and a renowned member of the Forbes Council.

• Offers Live Chat Support

They provide live chat support on their website, which is great as it allows you to ask question directly and receive instant answers.

Cons of Horizon Trust Company

• Expensive Fees

Their fees seem extremely expensive compared to some of our top-rated self-directed IRA custodians. For instance, they charge extremely high account set up and account termination fees. If you are looking for a company with lowest account set up and admin fees, we recommend Goldco Direct.

• Does Not Offer Bitcoin IRAs

Sadly, Horizon Trust Company does not offer crypto IRAs. This is a big disadvantage for those looking to invest in cryptos such as Bitcoin.

Accreditation and Customer Reviews

Horizon Trust Company is rated 4.8 out of 5 stars on the BBB, based on 22 customer reviews and one complaint. On Yelp.com, they are rated 2 out of 5 stars based on 4 customer reviews.

And on Trustlink, they have a 1/5 star rating based on 1 customer review. Strangely, the company lacks reviews on Trustpilot and BCA.

Should You Trust Horizon Trust Company?

Even though they are accredited with the BBB, Horizon Trust Company’s ratings on other platforms including Yelp.com and Trustlink are extremely poor. Besides, they charge exorbitant fees. If you are looking for a highly rated and most recommended firm that charges lowest fees, follow the link below to read about it.

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Is Horizon Trust Company Legit?

Yes, Horizon Trust Company is an absolutely legit self-directed IRA custodian with a physical location as well as a trusted website.

Conclusion

Horizon Trust Company is a self-directed IRA custodian based in Albuquerque, New Mexico. The company was opened in 2011 with the aim of helping investors diversify their portfolios with alternative assets through tax-deferred self-directed IRAs. Also, the company is known to offer client education as well as escrow services.

But on the downside, Horizon Trust Company is known to charge exorbitant account set up, admin and account termination fees. They are also poorly rated on Trustlink and Yelp, and lack reviews on Trustpilot and the Business Consumer Alliance.