Are you looking to self-direct your retirement assets, but not sure whether Provident Trust Group is the right company for you? Read this review to get the lowdown.
Table of Contents
- 1 What Is Provident Trust Group?
- 2 Provident Trust Group Review Summary
- 3 Location:
- 4 Address:
- 5 Year Founded:
- 6 Management:
- 7 Website:
- 8 Rating:
- 9 Provident Trust Group Products & Services
- 10 How Does It Work?
- 11 Pros of Provident Trust Group
- 12 In-depth Customer Education
- 13 Multiple Alternative Assets
- 14 Simple Account Setup Process
- 15 Cons of Provident Trust Group
- 16 Poor Ratings
- 17 Numerous Customer Complaints
- 18 Not Accredited By the BBB
- 19 Accreditation, Customer Reviews & Ratings
- 20 Is Provident Trust Group Legit or Scam?
- 21 Provident Trust Group Reviews Summary
What Is Provident Trust Group?
Provident Trust Group is a self-directed administrator based in Las Vegas. The company was founded in 2008 with a mission to empower people to self-direct their retirement. Provident Trust Group aims to provide clients with an easy access to alternative assets whilst offering top quality customer service.
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Provident Trust Group Review Summary
Las Vegas, Nevada
8880 W Sunset Rd #250, Las Vegas, NV 89148, United States
Brad Kraft (President)
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Provident Trust Group Products & Services
Provident Trust Group is mainly a custodian and administrator of self-directed IRAs. As such, it allows you to establish self-directed accounts such as Traditional IRA, Roth IRA, Inherited IRA, SEP IRA, SIMPLE IRA and Individual 401(k). Below are some of the numerous assets allowable for investment at Provident Trust Group:
- Limited Partnerships
- Hedge Funds
- Real Estate
- Single-member LLC
- Private Placement
- Precious Metals
- Tax Liens
- Trust Deeds
- Multi-member LLC
- Private Lending
How Does It Work?
And so, how does Provident Trust Group work?
Your first step is to visit their online portal and sign up for an account. Once logged in, you can educate yourself as much as you can by navigating to the ‘Education’ section on their website.
Once you’re decided, proceed to the ‘Forms’ section to download forms and set up your preferred self-directed account. Should you have any questions or unsure what investment to choose, you can always reach out to their team of highly skilled associates via phone, mail or email.
Pros of Provident Trust Group
In-depth Customer Education
They’ve got a detailed customer education section dubbed ‘Education center’. Here, you can learn about the self-directed retirement process in more detail as well as how to fund your account. You will also access frequently asked questions, glossary of self-directed terms, industry news and the self-directed tax calendar.
Multiple Alternative Assets
Provident Trust Group has got a long list of allowable investment assets, rivaled only by a few of the biggest brands in the industry. Thus, they give their customers a lot of flexibility and freedom of choice.
Simple Account Setup Process
The company has heavily invested in latest technology and the entire account set up process and administration is done online, no cumbersome paperwork.
Cons of Provident Trust Group
They are poorly rated on most online consumer protection agencies’ websites including Yelp and the Better Business Bureau.
Numerous Customer Complaints
Provident Trust Group has numerous complaints across multiple review websites. For instance, they have a total of 16 complaints in the last 3 years on the BBB a lone. Most of the complaints are about poor customer support and excessive IRA fees.
Not Accredited By the BBB
They are not accredited with the BBB despite being around for over a decade, which reflects their poor customer service and failure to address customer complaints.
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Accreditation, Customer Reviews & Ratings
Provident Trust Group is not accredited by the BBB, even though they have a rating of 2.5/5 stars on the platform based on 8 customer reviews. Also, they have the highest number of customer complaints on the BBB (16 complaints closed in the past 3 years).
On Yelp, Provident Trust Group boast a rating of 1.5/5 based on 33 customer reviews.
And on Glassdoor, they are rated 2.3/5 based on 8 employee votes. Provident Trust does not have reviews, ratings or complaints on Trustlink or the Business Consumer Alliance.
Is Provident Trust Group Legit or Scam?
Provident Trust Group is a legit self-directed administrator and passive custodian that has been in business since 2008. They’ve also got a verifiable physical address in Las Vegas, Nevada.
Provident Trust Group Reviews Summary
Provident Trust Group is a self-directed administrator and passive custodian managing over $6 billion worth of assets. Their platform is built with a mission to empower clients to self-direct their retirement by establishing self-directed IRA plans and investing in various alternative assets. Provident Trust Group provides an easy account set up process, detailed customer education and multiple alternative asset options.
The only downside of this company is their poor rating on online platforms. For example, they are not BBB accredited and boast poor ratings and many complaints on review platforms such as Yelp.com and Glassdoor.