Looking for a trustworthy IRA custodian? Sunwest Trust is famous for offering great self-directed IRA services, but are they still as reliable as they used to? Read our Sunwest Trust review and find out if they are the right company for you.
Attention: Our latest research has found that Sunwest Trust no longer offer precious metals IRA services, and their official website, www.sunwesttrust.com is down. Please, read about our top-rated Precious Metals IRA provider instead.
Table of Contents
- 1 What Is Sunwest Trust?
- 2 Sunwest Trust Products & Services
- 3 Company Info
- 4 Location:
- 5 Address:
- 6 Year Founded:
- 7 Managers:
- 8 Website:
- 9 Overall Rating:
- 10 How It Works
- 11 Pros of Choosing Sunwest Trust
- 12 Wide Range of Assets
- 13 Accredited With The BBB
- 14 Cons of Choosing Sunwest Trust
- 15 Negative Reviews and Complaints
- 16 Expensive IRA Fees
- 17 Poor Customer Support
- 18 Not Many Reviews Online
- 19 Accreditation, Customer Reviews and Ratings
- 20 Should You Consider Sunwest Trust for Your Precious Metals IRA?
- 21 Is Sunwest Trust a Scam?
- 22 Conclusion
What Is Sunwest Trust?
Sunwest Trust, also known as Sunwest Escrow, LC, is a financial institution that offers both escrow and custodial services. The company was founded in 1997 and is based in Albuquerque, New Mexico. Through their IRA services, Sunwest Trust allows investors to invest in a wide range of alternative assets.
Sunwest Trust Products & Services
Sunwest Trust was initially created to provide escrow services, but they have since expanded their operations to include IRA services. Some of the accounts offered by Sunwest Trust include SEP IRA, Traditional IRA, Roth IRA, SIMPLE IRA and Individual 401(k). And the assets allowed for custody by the company include Precious Metals, Real Estate, Hedge Funds, Trust Deeds, Tax Liens, Private Company Stock, Limited Partnerships and much more.
Albuquerque, New Mexico
10600 Menaul Blvd NE, Albuquerque, NM 87112, United States
Terry L. White (CEO), Cindy Archuleta (Vice President)
(1 / 5) Not Recommended
How It Works
To get started with Sunwest Trust, you need to call their official phone number to receive guidance from their account executives. Alternatively, you can physically visit their offices located in Albuquerque, NM.
Pros of Choosing Sunwest Trust
Wide Range of Assets
With the various types of IRA services on offer, Sunwest Trust allows you to invest in multiple asset types. The firm offers up to 20 different alternative assets to choose from.
Accredited With The BBB
Sunwest Trust is accredited with the BBB since 2010, which goes to show that they are actually legit.
Cons of Choosing Sunwest Trust
Negative Reviews and Complaints
Most of the company’s reviews on various online platforms are negative. They have a total of 10 complaints on the Better Business Bureau alone, which has given the company a really bad reputation.
Expensive IRA Fees
Sunwest Trust’s storage fees are more expensive than those charged by our top-rated IRA providers. In fact, some IRA custodians completely waive your storage fee for the first year, which is not the case with Sunwest Trust.
Poor Customer Support
Sunwest Trust has been accused of poor customer support, including failure to answer customer calls. They’ve also been accused of fraud on some platforms. Just have a look at the complaint below from Trustlink.
Not Many Reviews Online
They lack reviews on most online platforms despite over 2 decades in business. Normally, established businesses like this will have hundreds or even thousands of customer reviews and ratings on online platforms.
Accreditation, Customer Reviews and Ratings
Sunwest Trust boasts a 2.2 out of 5 stars rating on the Better Business Bureau based on 9 customer reviews. Also, they have a total of 10 customer complaints on the platform closed in the last 3 years.
On Yelp.com, the company has a 2 out of 5 stars rating based on 10 reviews, while on Trustlink, they are rated 1/5 stars based on one negative review. Sunwest Trust has no reviews on both the Business Consumer Alliance and Trustpilot.
Should You Consider Sunwest Trust for Your Precious Metals IRA?
Sunwest Trust may have been a great company some years back, but their current rating on review websites shows that their reputation has gone downhill. Their lack of good customer support may be the reason for this. Our top-rated precious metals IRA provider can be a good alternative, as they provide exceptional customer support and cheaper storage fees. You can read about it via the link below.
Is Sunwest Trust a Scam?
No, Sunwest Trust is not a scam but a legit company founded in 1997. They have offices in Albuquerque, NM.
Sunwest Trust is a financial institution that offers both escrow and IRA services. The firm is located in Albuquerque, New Mexico, and is known to offer multiple IRA services and more than 20 alternative assets for investment.
But like any other firm, Sunwest Trust is not without issues. For instance, their customer review profile mainly comprises negative reviews and complaints, which has greatly damaged the company’s reputation. Their storage fees are also higher than those offered by other custodians.