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You have likely considered many options for precious metals investment opportunities. Gold is a sought-after metal because it often holds its value or rises higher in periods of economic insecurity. There are many ways to invest in gold. A self-directed IRA gives you the power to invest with tax advantages.
To invest in a precious metals IRA, you must find custodial services. Most investors choose a trust company to provide their gold IRA services and ensure IRS compliance. GoldStar Trust Company is one among many, but are they trustworthy? What level of client support do they offer?
We have extensively researched GoldStar Trust Company and its services. We are here to provide you with information and give our opinion about the company so you can make an informed decision about your investment needs.
At The Gold Information Network, we understand the importance of your financial choices and the trust you place in our insights. We conduct in-depth research on each company we review, evaluating its reviews, reputation, product offerings, fees, and history while also meticulously comparing it with similar market products.
In a financial landscape where banks appear geared towards serving the wealthy, we hold reservations about these institutions, the monetary system, and politicians. We passionately advocate empowering individuals like you with greater control over their finances. We firmly believe that you should have the authority to shape your financial future independently, reducing your dependence on institutions and politicians.
We conducted an in-depth review of Gold Star Trust, a self-directed IRA custodian specializing in precious metals.
GoldStar Trust Company, once named First State Bank, opened in 1908 and eventually evolved into an IRA custodian specializing in helping clients invest in precious metals as part of a self-directed IRA. They can help you invest all or a part of your traditional or ROTH IRA in precious metals like gold, silver, platinum, and palladium.
Pros
Cons
When learning about GoldStar Trust Company or any other custodian, reading customer reviews is essential. Your retirement accounts are too important to trust the wrong provider.
We first checked with the Better Business Bureau to learn about GoldStar's rating. The company is not accredited but has an A+ rating. GoldStar Trust only has 1.8 out of five stars on the BBB website. There have also been 21 complaints in the last three years, with four in the last 12 months. The following are some of the subjects of the complaints:
One positive review was posted on the Better Business Bureau website. The customer stated that they had been using GoldStar Trust since 2018 and could not be happier with these self-directed IRA custodians.
We checked with Trustpilot and found a little better score for GoldStar Trust. Here, the company has an excellent rating based on 663 customer reviews. GoldStar Trust Company has 4.5 stars out of five. Around 77% of reviewers left a five-star review. Subjects of the positive reviews include:
Subjects of negative reviews include:
Based on the reviews we read, it looks like Goldstar Trust Company has the potential to service its customers but may have been failing lately.
Recent customer reviews indicate poor customer service, long wait times, and delayed shipping. A few customers have also complained about missing shipments.
GoldStar Trust Company is not a scam. Although the company does not meet the definition of a scam, many customer complaints cause us concern.
After reading each Gold Star Trust review, it appears to us that the company needs to overhaul its customer service effort to serve its customers better.
GoldStar Trust Company does not sell precious metals, but it does help clients invest in them as a self-directed IRA custodian. Because it is a custodian, GoldStar Trust Company only handles account management services.
GoldStar offers many services to clients, including helping them invest in mutual funds, self-directed IRAs, and alternative investments. We break down their investment services below:
Self-directed IRAs offer investors more investment options than a traditional IRA. These individual retirement accounts put the investor in control and allow you to invest in precious metals like gold, silver, platinum, and palladium. The IRS also allows investors to invest in real estate, cryptocurrency, private equity, and tax liens.
Mutual funds are investment options that allow multiple investors to pool their money and own a share in a fund. GoldStar Trust Company offers portfolio management for those wanting to pursue this investment. There are a few different types of funds:
Crowdfunding is similar to other funds because it allows companies to raise capital by collecting small amounts of money from many people.
The person or company creates the campaign and begins soliciting contributions from potential investors. There are multiple options:
Churches or other religious organizations issue church bonds. Churches release these bonds to raise money for specific named projects.
Investors can purchase these bonds, giving the church money to complete its project. The church pays regular interest to each investor, usually annually or semi-annually. Depending on the bond, the term length can range from 5 to 30 years.
Privately offered investments, also known as private placements, are not provided to the general public and involve the sale of shares or bonds to limited partnerships. Startups use private placements to gain capital for projects.
Hedge funds are for high-net-worth investors. This investment fund pools investors' money to invest in various assets. These funds often have restrictions on when you can withdraw your money.
GoldStar Trust Company also helps clients invest in publicly traded securities, which include stocks, bonds, and other investment options. Depending on the investment, investors can also invest in exchange-traded funds, derivatives, and, sometimes, mutual funds.
Large corporations offer REITS to allow investors to pool their money and invest in large-scale real estate investments without purchasing and managing properties. REITs work like mutual funds, pooling many investors to invest in properties.
Many investors come to GoldStar Trust Company to invest in precious metals with a traditional or ROTH IRA. These IRAs allow you to invest in precious metals, but there are specific rules to follow.
You can also use your retirement accounts to invest in other investments, including private equity. GoldStar Trust Company can help you open traditional, ROTH, SEP, and Simple IRAs. They can also assist you in rolling over from your existing IRA to invest in gold, silver, platinum, and palladium.
You also have the option of secondary market annuities. These are those previously issued and now being sold by the owner.
They often originate from lottery winnings, structured settlements, and other financial arrangements. Purchasing secondary market annuities can be a sound way to invest in retirement planning.
GoldStar Trust Company partners with the top depositories in the United States to provide storage options for clients investing in precious metals. There are a couple of types of depository storage:
Segregated Storage ensures investors' specific precious metals are held separately. When they take a distribution, investors receive the same metals they purchased.
Non-Segregated Storage is the opposite. This storage option is often called co-mingled because every investor's precious metals are stored in the same area. Investors do not receive the exact metals they purchased back, though they receive the same type upon distribution.
Since some customers complained about fees, we searched the GoldStar website extensively. Initially, we could not find any information on fees. Further research revealed a PDF that we found difficult to see on the website.
We discovered many fees in the PDF and advise anyone interested in the company to read the fee schedule and fine print entirely.
The above fees are for self-directed IRA services. Additional fees apply for other services.
Some customers have complained about hidden fees and a lack of transparency. The company's PDF breaks down each fee reasonably well.
Regarding custodial services, GoldStar Trust Company appears to be a decent company. However, based on the complaints we read and the poor star rating on the Better Business Bureau, they seem to have some issues with customer service.
No matter which custodian you choose, careful research is a must. Although GoldStar specializes in offering precious metal investment services, it does not sell physical precious metals.
GoldStar Trust is a self-directed IRA custodian and offers alternative investments. Their custodial services help manage your self-directed IRAs and ensure IRS compliance.
Before trusting GoldStar Trust Company with your SEP IRA and retirement portfolios, you need to learn more about the company's services. Given the negative reviews, GoldStar Trust ratings are concerning. GoldStar Trust Company is a leading custodian, though we urge you to understand their fee structure before allowing them to handle your IRA portfolios.
GoldStar Trust Company opened in 1989, morphing from its parent company, Happy State Bank, which opened in 1908. The company helps investors invest in real estate IRAs, stocks, bonds, and mutual funds. Whether you have a traditional IRA, ROTH, or SEP, they can help you roll over to invest in precious metals or open a new account.
GoldStar Trust Company is a custodian for investors who want to invest their ROTH, traditional IRA, or SEP IRA in precious metals or alternative investments. They will help you with retirement planning and assist you in pursuing private lending, real estate investments, or equity crowdfunding. Rest assured that your IRAs will be IRS-compliant with GoldStar's account maintenance.
GoldStar Trust Company is a long-standing custodian known for specializing in precious metals IRAs and helping clients invest in alternative assets like secured promissory notes and unique retirement solutions.
We are concerned about the negative customer reviews on the BBB, though the company has an A+ rating. The company offers investors a broad spectrum of investment tools and can help you with your IRA account. But are they the right company for your investment needs?
Investing your hard-earned money requires custodial services to help protect your investments and make wise investment decisions. Your assets deserve the best protection.
We urge you to perform careful research to learn as much as possible about the company. Use our comparison charts to compare the offerings of various custodian service providers to make the best choice.
We recognize the significance of your financial decisions and the trust you place in us. We've done extensive research, examining reviews, reputation, products, fees, and history to ensure you receive accurate insights.
Amidst a financial landscape where banks often favor the wealthy, we believe it's time you take control.
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