Thinking of signing up with Security Trust Company and taking advantage of the investment opportunities they offer? Before you do, you should read this Security Trust Company review carefully to find out if it’s the right self-directed IRA administrator for you.
Table of Contents
- 1 What Is Security Trust Company?
- 2 Security Trust Company Review Summary
- 3 Location:
- 4 Address:
- 5 Year Founded:
- 6 Management:
- 7 Website:
- 8 Rating:
- 9 Security Trust Company Products & Services
- 10 How It Works
- 11 Security Trust Company Fees
- 12 Pros of Security Trust Company
- 13 Insightful Webinars
- 14 Professional Team
- 15 Cons of Security Trust Company
- 16 Limited Account Types
- 17 Not BBB Accredited
- 18 Limited Information On Fees
- 19 No Live Chat
- 20 No Reviews Online
- 21 Accreditation, Customer Reviews and Ratings
- 22 Is Security Trust Company Legit?
- 23 Security Trust Company Reviews Conclusion
What Is Security Trust Company?
Security Trust Company, also referred to as STC, Inc. is a retirement plan administrator whose primary job is to help retirees invest their savings wisely. In addition to offering many investment options, Security Trust Company also provides free guidance throughout your alternative investing journey.
Security Trust Company Review Summary
223 N Prospect St. Suite 202, Hagerstown, MD 21740
Mick Hersh (CEO), John Laughlin (President)
Security Trust Company Products & Services
Security Trust Company offers many investment options to help you diversify your retirement portfolio. Accounts offered include Traditional IRA, Roth IRA and SEP IRA. Investment vehicles allowed include Real Estate, Tax Liens, Private Lending, REITs, Single and Multi-member LLCs and Limited Partnerships. Also, STC is not left behind when it comes to client education as they offer insightful webinars from time to time.
How It Works
Unlike other administrators, Security Trust Company does not provide account setup forms on their website. Instead, you are required to contact them through phone or email and request for guidance. The company’s experienced representatives will discuss with you the available options and help you set up the self-directed IRA account that suits your investment goals.
Security Trust Company Fees
There’s little fee information to be found on their official website, hence you need call them and ask for the info. However, we did manage to find out their account setup and account termination fees which amount to $2000 and $350 respectively. Compared to other self-directed IRA providers, Security Trust Company’s fees are undoubtedly too much.
You can learn about our top recommendation for precious metals IRAs that charge lowest flat rate fees on this page.
Pros of Security Trust Company
Security Trust Company prioritizes customer education hence they offer insightful webinars on a regular basis. Their webinars are full of advanced insights about self-directed retirement accounts and are beneficial to both veteran and novice investors.
The company is managed by a team of professionals including John Laughlin and Mick Hersh who boast many years of financial and managerial experience. They promise to not only assist you to set up your account but to also review your plans and help you comply with complex reporting requirements associated with your account.
Cons of Security Trust Company
Limited Account Types
STC only offers 3 self-directed IRA account types. This limits the number of alternative assets you can invest in.
Not BBB Accredited
They are not accredited with the BBB, one of the most trusted consumer protection websites in the country. This is a massive red flag since most reputable companies, whether IRA administrators or otherwise, are accredited with the BBB.
Limited Information On Fees
They provide no information regarding annual fees on their website. To get the crucial information, you are required to call their customer support which is not only inconveniencing but time consuming. We prefer companies that disclose all their fees publicly through their official website.
No Live Chat
Live chat support is not provided therefore you can’t get instant responses to your queries.
No Reviews Online
Security Trust Company lacks reviews on all major review websites.
Accreditation, Customer Reviews and Ratings
Security Trust Company lacks a BBB accreditation and lacks customer reviews, ratings or complaints on the platform.
Likewise, the firm lacks reviews and ratings on all major review websites including Yelp, Trustpilot, Trustlink and BCA.
Is Security Trust Company Legit?
Is Security Trust Company legit or scam? Well, STC is undoubtedly a legit self-directed IRA administrator as they have a real physical address based in Hagerstown (223 N Prospect St. Suite 202, Hagerstown, MD 21740). Furthermore, the firm is managed by renowned financial managers such as John Laughlin.
Security Trust Company Reviews Conclusion
Security Trust Company is a self-directed IRA administrator based in Hagerstown, Maryland. The company offers self-directed IRAs as well as various investment options including Real Estate, Tax Liens, Private Equity and others. Owing to their commitment to client education, Security Trust Company’s staff offer insightful webinars on a regular basis.
On the bad side, Security Trust Company offers fewer account types and investment options compared to most of its competitors. Besides, the firm provides limited information on fees, and they also lack reviews and accreditation on trusted review websites such as the BBB.