Goldstar Trust Company Reviews

GoldStar Trust Company
Goldstar Trust Company
A Reputed Company
GoldStar Trust Company is one of the oldest IRA custodians in the industry. However, they are more suited for B2B services.
Fees & Charges
Honesty & Transparency
Reputation
Customer Service
Pros
A well-established name in the industry
Transparent about their management
Cons
Mixed reviews
No specialization in gold IRA
A B2B service provider
3
Expert Score

What is Goldstar Trust Company?Goldstar Trust Company Locations, Timings, Email, Phone, Services

GoldStar Trust Company is an industry-leading self-directed IRA custodian with a rich history and significant experience in the field. Established in 1989 as Colonial Trust Company, it has grown over the years to become a prominent player in the self-directed IRA industry.

GoldStar Trust Company logo

In 2004, GoldStar Trust Company entered into negotiations with Happy State Bank, a major bank in the Texas Panhandle, to become their trust-only branch.

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This partnership with Happy State Bank provided additional resources and support for GoldStar Trust Company’s operations. In 2006, GoldStar Trust Company expanded its services by acquiring American Church Trust Company. This acquisition likely allowed GoldStar Trust Company to broaden its expertise in serving clients with specific needs related to church and nonprofit organizations.

The following year, GoldStar Trust Company relocated its headquarters to Canyon, Texas, where it currently operates. Canyon is a city in the Texas Panhandle region, known for its proximity to Palo Duro Canyon State Park.

With more than three decades of experience and a substantial number of IRA accounts holding billions of dollars in assets, GoldStar Trust Company has established itself as a trusted custodian in the self-directed IRA space. Their services cater to individuals who seek greater control and flexibility in managing their retirement savings by investing in alternative assets within the framework of self-directed IRAs.

  • Address: 1401 4th Avenue, Canyon, TX 79015
  • Phone: (800)-486-6888
  • Fax: (806) 655-2530
  • Email: info@goldstartrust.com
  • Website: http://www.goldstartrust.com/

People Behind Goldstar Trust Company: CEO, Owner, Co-Founders & MoreWho owns Goldstar Trust Company? What is the management team behind Goldstar Trust Company?

GoldStar Trust Company has a dedicated management team overseeing its operations and driving its success. Together, this experienced and dedicated management team at GoldStar Trust Company works collaboratively to provide high-quality custodial services, drive business growth, maintain compliance, and deliver exceptional customer support to their clients.

Here is a detailed overview of the key members of the management team:

  1. Jeff Kelley – President: Jeff Kelley serves as the President of GoldStar Trust Company. With his leadership and strategic vision, he guides the overall direction of the company, ensuring its continued growth and success.
  2. Matt Nitschke – Senior Vice President, Business Development Manager: Matt Nitschke holds the position of Senior Vice President and serves as the Business Development Manager at GoldStar Trust Company. He is responsible for driving business development initiatives, cultivating relationships with clients and partners, and identifying growth opportunities for the company.
  3. Dave Schnierle – Senior Vice President, Business Development: Dave Schnierle is the Senior Vice President of Business Development at GoldStar Trust Company. In his role, he focuses on expanding the company’s client base, forging strategic partnerships, and exploring new avenues for business growth.
GoldStar Trust Company staff

Goldstar Trust Company Products: Bullion Coins, Bars, And Rare CoinsAll products offered by Goldstar Trust Company

A detailed explanation of the products and services offered by GoldStar Trust Company are as follows:

Gold bars
  1. Automatic Rollover IRAs: GoldStar Trust Company provides automatic rollover IRAs, which are retirement accounts designed to receive and manage funds from qualified retirement plans like 401(k)s when individuals change jobs or retire. These IRAs allow individuals to maintain tax advantages and continue saving for retirement.
  2. Precious Metals IRA: GoldStar Trust Company provides Precious Metals IRAs, allowing individuals to invest in physical precious metals, such as gold, silver, platinum, and palladium, within the framework of a self-directed IRA. These accounts offer a way to diversify retirement portfolios and hold tangible assets.
  3. Self-Directed IRAs: GoldStar Trust Company specializes in self-directed IRAs, which provide individuals with greater investment flexibility and control compared to traditional retirement accounts. With self-directed IRAs, individuals can invest in a wide range of alternative assets beyond conventional options like stocks and bonds.
  4. Non-US Bank IRAs: GoldStar Trust Company allows investors to hold assets in IRAs outside of the United States. This option enables individuals to diversify their retirement holdings internationally and benefit from potential investment opportunities abroad.
  5. REITs: GoldStar Trust Company offers services for Real Estate Investment Trusts (REITs). REITs are companies that own, operate, or finance income-generating real estate properties. Investors can participate in REITs through their self-directed IRAs and potentially benefit from rental income and property appreciation.

Some more services offered by the company include:

GoldStar Trust Company services page screenshot
  1. Gamma Custodial Accounts: Gamma Custodial Accounts are offered by this company to support self-directed IRAs investing in alternative assets. These accounts enable individuals to invest in assets like private equity, hedge funds, venture capital, and other non-traditional investment options.
  2. Church Bond Investments: GoldStar Trust Company offers the opportunity to invest in church bonds. Church bonds are debt securities issued by religious organizations to raise funds for various purposes, such as construction projects, renovations, or operational expenses. Investors can earn interest on their investments while supporting church initiatives.
  3. Crowdfunding: The company supports crowdfunding initiatives by acting as a custodian for self-directed IRAs investing in crowdfunding opportunities. This allows individuals to use their retirement funds to participate in crowdfunding campaigns and potentially benefit from the growth of these investments.
  4. Privately Offered Investments: GoldStar Trust Company facilitates investments in privately offered securities, which are not publicly traded on stock exchanges. These investments can include private equity, debt instruments, limited partnerships, and other non-publicly traded securities.
  5. Publicly Traded Securities: The company supports the holding and management of publicly traded securities within self-directed IRAs. This allows individuals to invest in traditional assets like stocks, bonds, mutual funds, and exchange-traded funds (ETFs) through their self-directed IRAs.
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How to Invest in Goldstar Trust Company IRA?Step-by-step guide for investing in Goldstar Trust Company IRA

To invest in a precious metals IRA through Goldstar Trust Company, here are the general steps:

  1. Open a Self-Directed IRA

    Select an IRA company that handles opening precious metals IRA accounts and fill out an application. You can work with Goldstar Trust Company to recommend an IRA company and provide the necessary paperwork. However, I don’t recommend doing so.

  2. Fund Your IRA

    Once you have selected an IRA company, you can move your funds into your new IRA account. You can work with the IRA company representative to transfer or roll over funds into the new account.

  3. Select a Precious Metals Dealer

    One of the forms you need to fill out along the way is typically called a Buy Direction Letter. This is where you list the precious metals dealer you have selected, such as Goldstar Trust Company.

  4. Decide Which Precious Metals to Purchase

    You can choose to invest in gold, silver, platinum, or palladium for your IRA. There are some restrictions regarding fineness requirements and allowable coin types, so it’s important to get guidance from Goldstar Trust Company in this area.

  5. Place Your Order

    Once the funds are available in your IRA account, you can call them to place your order for the desired precious metals.

However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.

Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer in your state and choose accordingly.

Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.

GoldStar Trust Company SDIRA page screenshot

Goldstar Trust Company Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?

Goldstar Trust Company provides a comprehensive fee schedule for its services, and the following is an overview of the fees associated with various alternative asset types:

  1. Mutual Funds, Money Market Funds, and Traditional Securities:
  • $25 one-time establishment fee
  • $65 annual maintenance fee
  • $25 trading fee per trade
  • Brokerage fees
  1. Hedge Funds:
  • $50 yearly asset holding fee
  1. Real Estate:
  • $50 initial setup fee
  • Yearly maintenance fees based on the value of the real estate in the IRA account
    • Properties worth under $20,000: $200 per year
    • Investments worth over $200,000: $300 per year
  • $100 fee for purchase or sale of real estate
  • $50-$100 administrative-legal fee for document review or rush requests
  1. Precious Metals:
  • $50 setup fee for precious metals investing IRA
  • Annual maintenance fee (maximum) for accounts worth $100,000 or less: $275
  • $100 minimum depository storage fee
  • No fees for asset exchange, selling, or buying within the account
  • $40 charge plus shipping costs for a precious metals distribution
  1. Perth Mint Certificates:
  • $50 one-time setup fee
  • $40 fee for trades or sales of assets within the account
  • $75 annual account maintenance fee
  • $150 annual asset holding fee
  1. Annuities and Bank Accounts Outside of the United States:
  • Annual fee up to $275 based on the account value
  • $50-$75 fee for surrendering annuities or liquidating assets
  1. Church Bonds and Church Loans:
  • $45 annual flat fee to maintain this type of investment
  • $25-$50 fees for maintaining or closing accounts related to transfers or in-kind changes
GoldStar Trust Company Fees table screenshot

Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. Goldstar Trust Company on the other hand provides fewer options.

>>>Get in touch with the #1 rated gold IRA company of 2023<<<

Goldstar Trust Company Reviews and Complaints: BBB, Trustpilot, SitejabberRead all the Goldstar Trust Company reviews & complaints

Business Consumer Alliance (BCA):

On BCA, Goldstar Trust Company has no star ratings. There they have a BB company rating. In the context of the Business Consumer Alliance (BCA), a BB company rating represents that the business has a moderate level of performance and customer satisfaction. While it is not the highest rating, it indicates that the business has met certain criteria and has a satisfactory track record overall.

GoldStar Trust Company BCA rating. They have a BB rating on the platform.

Better Business Bureau (BBB):

On the Better Business Bureau website, Goldstar Trust Company has an A- rating. The company their have 1 star out of 5-star ratings based on only 5 customer reviews. There are both mixed positive and negative reviews. They have been in the industry for 115 years. Also, they have received 18 complaints in the last 3 years. This business is also not BBB accredited.

GoldStar Trust Company BBB reviews and rating. They have received multiple complaints there.

Yelp:

On Yelp, Goldstar Trust Company has 1.5 stars out of 5-star ratings based on 22 customer reviews. Reviews given by customers are mostly negative. The customers are not happy with its services and products. They are quite disappointed with them.

Yelp page screenshot of Gold Star.

Trustpilot:

On the Trustpilot website, Goldstar Trust Company has 4.4 stars out of 5-star ratings based on customer reviews. There are 337 customer reviews on the website. Mostly all of them are positive. Customers highly appreciate the company’s exceptional customer service, professionalism, and expertise. On this website, the company is in an excellent state.

GoldStar Trust Trustpilot screenshot. They have 336 reviews there.

Google Reviews:

On Google, Goldstar Trust Company has 2.7 stars out of 5-star ratings based on customer reviews. There are a total of 52 customer reviews on Google, and all reviews given by them are mixed, i.e. negative and positive.

GoldStar Trust Company Google reviews. They have 52 reviews there.

Some Negative Reviews:

#1. William Andrulot expresses his dissatisfaction with the company, describing it as a horrid experience. He claims to have been attempting to close his account for a year but finds the process unnecessarily challenging. According to William, the company’s standards and practices have changed for the worse over time, possibly due to increased greed or financial difficulties.

GoldStar Trust Company complaints about they scam customers.

#2. The customer expresses dissatisfaction with the customer service provided by this company. They state that they intend to transfer their account elsewhere if they can successfully reach a representative. The customer also mentions the lack of response to their emails, raising concerns about the company’s availability for business. They indicate their intention to contact the Better Business Bureau (BBB) regarding their experience.

GoldStar complaints about their poor customer service on Trustpilot.

Some Positive Reviews:

#1. According to Jim S., Gold Star has been extremely helpful thus far, despite facing challenges in obtaining the release of his property from his previous trust company. He notes that Gold Star was consistently available and demonstrated a commitment to doing what was right. Jim expresses optimism about the possibility of converting his IRA to a Roth with Gold Star in the future.

Gold Star Trust reviews on Yelp

#2. Ewa Rutkowska commends Jonathan for his excellent customer service. She mentions that he answered her questions thoroughly and provided clear explanations on the subject matter. Ewa appreciates Jonathan’s friendly demeanor, emphasizing the importance of feeling understood and respected as a new customer contacting the organization.

GoldStar Trust Company reviews on Trustpilot

#3. Grant Linhart expresses his appreciation for the company, describing them as a fantastic company. He highlights the personalized attention they provided by personally reviewing all the paperwork together. Additionally, he acknowledges their expertise in advising against opening an account that would not have had sufficient funds to cover the storage and maintenance fees associated with a particular physical gold account, ultimately saving him money.

GoldStar Trust reviews about how they are a great company.

#4. James G praises the company as an exceptionally user-friendly and amicable company to collaborate with. He commends their prompt and thorough response to any inquiries, showcasing their professionalism throughout the process.

GoldStar Trust Company review recommends them as a custodian.

#5. According to Jose M. Mendez, applying for and conducting transactions via email with this company has been incredibly simple. The agent provided patient assistance, answering all questions and aiding in the review of necessary applications. Jose M. Mendez expresses satisfaction with both the agent and the company.

Gold Star review

Is Goldstar Trust Company Legit? Should You Invest With Them?Is Goldstar Trust Company a scam or legit? Are they worth it?

No, I don’t think you should go with them directly.

Pros:

  • A well-established name in the industry
  • Transparent about their management

Cons:

  • Mixed reviews
  • No specialization in gold IRA
  • A B2B service provider

They are an IRA custodian with plenty of experience. However, it would be better for you to invest through a specialized gold IRA company instead.

That way, you can get a lot of guidance and see what are the various investments you can get into.

I recommend checking out our top gold IRA companies. Or, you can request a free gold IRA guide from our #1 rated IRA company:

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