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When considering a company for your investment needs, conducting thorough research is essential. Understanding a company's background and services can help you determine its suitability for your financial goals.
This comprehensive review looks into the Strata Trust Company, a premier national custodian for individual retirement accounts (IRAs).
Specializing in alternative investments, Strata Trust offers a wide range of options tailored to diverse investor interests. This guide provides all the necessary information to evaluate whether Strata Trust aligns with your investment strategy.
Continue reading to discover more about this distinguished investment company.
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About Strata Trust Company
Strata Trust Company is a wholly-owned subsidiary of Horizon Bank, SSB, founded in 2008. They are formally known as Self Direct IRA services; Inc. It underwent a major rebranding in 2017 to become what they are today.
They have the knowledge and expertise to help investors reach their retirement goals. They have plenty of alternative investment opportunities including real estate, crowdfunding, private equity, and precious metals.
They have over 30,000 investors looking to make their retirement lucrative. The company launched institutional IRA services that benefit professionals, advisors, and investment platforms.
They are also among the first companies to work with crowdfunding platforms. These milestone moves were very beneficial for the company because they generated a lot of investors.
Assets under their custody grew dramatically, and by 2019, they had over 50 employees. They have adopted different technologies that simplify IRA transactions. The self-service portal is one of the Strata Trust Company's innovative steps.
They have managed to acquire over $ 3B in assets; in the competitive financial environment today, their numbers are very impressive. It has something to do with their staff's collective years' experience.
There are usually not many options in the retirement sector, but this company tries to provide investors with options. According to their site, their vision is to be an innovative partner to help investors attain their wealth goals.
When investing, you need to look for a company that puts you forward. Even with all this information, you still need to dig deep before you consider opening an IRA account with the company.
Who Is Strata Trust Company?
Strata Trust Company has achieved all the milestones because of the executive and management team. These are some of the management or executive team that makes up the company.
Kelli Click
Kelli Click is the president of Strata Trust Company. She has over 28 years of experience in self-directed IRA and institutional IRA custody. She has been a board member at the Retirement Industry Trust Association (RITA) for more than 17 years.
Kelli is very actively involved in the retirement industry, and she is putting in a lot of effort through the Strata Trust Company.
Jeff Thompson
Jeff Thompson is the Chief Operating Officer. He has over 29 years' experience in the industry; he understands the complexities in the business and always comes up with solutions. Jeff has been involved in multiple account acquisitions from other custodians.
He has a degree in business administration and management.
Michele Maruri
Michele is the Chief Financial Officer. She joined the company in 2014, and she brings on board more than 30 years of experience in self-directed IRAs. Michele Maruri is a certified public accountant with a degree in accounting from the University of Texas.
She used to be a director at Sterling Trust Company before starting her current tenure.
Strata Trust Company Investing Options
A real estate IRA allows you to own property in the form of single-family homes, raw land, and commercial property, among other things. It's the best investment if you have knowledge and expertise in the real estate market.
You can also own mortgage notes and help others purchase properties.
You can invest in precious metals like palladium, platinum, silver, and gold if you want something tangible. A tangible investment like precious metal can weather a financial crisis. You can purchase, hold and sell the metals at will.
However, do your research about precious metals before investing.
Crowdfunding is one way for entrepreneurs to raise funds for start-ups. You can invest in what you believe in if you choose this option. There are always new opportunities, and you can diversify your investment portfolio.
You will have access to different assets like real estate, private stock, and many others.
With this investment option, you can invest in a privately held company. The investment opportunities range from start-ups to well-established companies. It all depends on what your retirement plan and goals are.
There are high risks and high rewards.
Fees
Strata’s account fees vary depending on the type of investment you choose and the services you require. Here is a look at the services fees for different IRA accounts.
Fees | Precious Metals IRA | Basic IRA | Flex IRA | Other |
|---|---|---|---|---|
Set up fees | $50 | $50 | $50 | - |
Annual account fee | $95 | $125 | $300 | - |
Real Estate Holding | - | - | - | $150 |
Private investment holding | - | - | - | $50 |
Commingled precious metal storage | $100 | $100 | $100 | - |
Segregated precious metal storage | $150 | $150 | $150 | - |
Precious metal shipping | $10 + estimated cost (EC) | $10 + EC | $10 + EC | - |
Precious metal purchase sales or exchange | $40 | $40 | $40 | - |
Real estate purchase sales or exchange | - | - | - | $150 |
Private investment purchase sales or exchange | - | - | - | $50 |
Strata Trust Company has other service fees, but these are the main ones you need to know about. A $ 250 account closure fee is a bit higher than other companies, and it can be inconvenient when you want to forego the account.
For any returned item, card decline, or stop payment, you will pay $ 35. When you have a special request or need research, the services fee is $ 75 per hour for the research and $ 25 per special request.
Partial transfer out is $ 100, and note modification costs $ 50. The service fees are what make the company affordable or expensive. That is why you must familiarize yourself with all the company fees.
The in-kind distribution fee is $ 30 per asset. The late fee is $ 50 and is charged 30 days after the invoice date.
Customer Reviews
Strata Trust Company has a few customer reviews and testimonials published on its website. They are all five-star reviews.
It reflects the kind of services they offer, but it's not common for a company to publish poor reviews on their site.
The company is not Better Business Bureau (BBB) accredited, but they have BBB ratings reviews and complaints to help you decide. Trustpilot also has plenty of reviews and a few complaints.
Only through other people's experience can you tell how the company treats its customers. One thing that is recurrent in most reviews is their excellent customer service. Strata Trust Company is always available to answer your questions.
You can call or use the resources available on their site. It turns out the five-star reviews on the website are what customers think of the company.
Trustpilot gives them a 4.4 out of 5, and BBB gives Strata an A+ rating. There are barely any complaints about their services. The only complaints are about the website and logging in, but it doesn't apply to everyone.
There is also a complaint about some of the fees, but overall they have fantastic reviews online.
Frequently Asked Questions
Are Self-Directed IRA Investments Insured?
The cash in your Strata account is FDIC-insured up to $ 250,000. However, if you have other investments held by your IRA account, it won't be insured and might lose value.
What Types Of IRA Investments Are Prohibited?
Some of the not permitted investments include collectibles like stamps, artwork, rugs, coins, antiques, and gemstones, among other things. It's always great to contact their support team before opening an account.
They will advise you on all the dos and don'ts and make your experience better.
Does Strata Trust Company Sell, Buy, Or Exchange Precious Metals?
No, it doesn't. You need a broker to help you negotiate the exchange, sale, or purchase of precious metals. Try to educate yourself and research before choosing a precious metal dealer. Fraud cases are very common with such purchases.
You should not risk your IRA funds with untrustworthy purchases.
What Type Of Precious Metals Cannot Be Held In An IRA?
Some metals can't be held in your Strata account, like Italian Lira, Hungarian Korona, Mexican Peso, Columbian Peso, French Franc, and British Britannia.
Strata Trust Company has published a list of all the precious metals that are not approved on the website. Your gold must also be 99.5% pure.
Bars, coins, and rounds must be produced by an accredited manufacturer or refiner. They must meet the minimum fineness requirements. Non-proof (bullion)coins should be free from damage.
Is There A Home Storage Option For Precious Metals?
All the precious metals must remain in the custody of Strata Trust Company. According to IRS guidelines, your IRA assets will be in the company's custody until they are distributed or sold.
You will take possession of or control the metals while they are in Strata custody.
How Do I Fund My IRA?
You can use IRA contribution, direct rollover, or direct transfer. You might even combine all these methods if you are capable. Ensure you deposit funds correctly, especially with IRA contributions.
Can I Have A Self-Directed IRA If I Have A Retirement Plan At Work?
The Roth IRA contribution will be limited if your income exceeds a certain level. It might also be problematic if your spouse participates in a different retirement plan at work.
You should contact the self-directed IRA experts at the company and develop a viable solution for your case. Every case is unique, and you have to understand your situation and income first.
Conclusion
Strata Trust Company offers alternative retirement opportunities you can use to grow your IRA. It's an established company and an authority in the retirement sector because of the variety of services they offer.
However, investing in the company is a personal decision; you have to consider both the good and the bad. Take into account the complaints and also consider their numerous positive reviews.
But one undisputed fact is the company has hands down one of the best customer services.
The Strata Trust Company is a decent company, they are not a scam, but they are not the best choice like other companies we have written about on this website.
You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:
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Or, if you like what you have read about Strata Trust Company, you can go to there website below:
I started BMOGAM Viewpoints as a way to compile all my views on investing in one place. I own my home, have some real estate, and own a few stocks like most people, but what really drives my interest in investing is I have a strong love of precious metals, especially gold.
