Madison Trust Company Reviews

Madison Trust Company
Madison Trust Company
Madison Trust Company is an IRA custodian which offers self-directed IRAs to consumers. They have a highly reputed group of leaders and have received multiple positive reviews online.
Fees & Charges
Honesty & Transparency
Customer Service
Unique investment offerings
Respected management team
High fees
No specialization in Gold IRAs
Expert Score

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

The Madison Trust Company has clients in all 50 states and is in charge of more than 3.5 billion dollars in assets.

Madison Trust Company logo

To assist their clients in their financial path, Madison Trust provides asset-based fees, flat-rate costs, a service-oriented model, and unwavering support.

For clients wishing to increase their wealth both now and in retirement, Madison Trust offers a wide range of financial products and services. Continue reading for an analysis of Madison Trust and its services if you’re curious to learn more.

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This custodian offers a large variety of investment options to investors such as real estate, promissory notes and precious metals among others.

Their unique self-directed IRAs might seem promising but are they really worth the risk?

You’ll find out in this Madison Trust review:

Address: 401 E 8th St #200, Sioux Falls, SD 57103, USA 
Situated in: 8th & Railroad Center
Phone: +1 800-721-4900
Contact information:

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

Mervyn Klein and Daniel Gleich founded the Madison Trust Company in 2009. In order to diversify his father’s retirement portfolio, Daniel through the difficult process of setting up an IRA LLC on his own. This is when the idea for the company was born. By offering them a simple Self Directed IRA option, he hoped to spread the knowledge he had gained through hard work to others.

Let’s learn more about Madison Trust Company’s founder and staff.

Daniel Gleich: CEO and President

Daniel Gleich, Madison Trust CEO

Daniel Gleich has over 25 years of business experience, which he contributes to Madison Trust. Mr. Gleich, the organization’s direct President, and CEO, is in charge of establishing its vision, tone, and culture. Gleich is continually moving Madison Trust forward and keeping it at the cutting edge of the financial services sector by leveraging his sharp business sense, entrepreneurial know-how, and inventiveness. The incredible “employee-first” culture of Madison Trust is also the brainchild of Gleich.

Mervyn Klein: Shareholder and Board Member

Meryn Klein

Over three decades of real estate industry experience are brought to Madison Trust by Mervyn Klein. Earlier, he was the original shareholder of LMS Realty and was in charge of converting the old American Can Factory into a vibrant centre for the arts.

The Anheuser-Busch Distribution Facility was created by him as a principal of Hudson Development LLC. He worked as an information technology business consultant for MK Read and Company, bringing together tech-savvy startups and established companies like Lucent-Bell.

E. Brian Finkelstein: Chairman and Shareholder

E. Brian Finkelstein

With over 30 years of experience in international financial markets, E. Brian Finkelstein joins Madison Trust. Helix Financial Systems, a division of Cantor Fitzgerald, was where he most recently held the positions of president and chief executive officer. Brian oversaw the creation of systems there that were effectively sold and marketed to significant financial organizations. He held the same position at UBS prior to it, serving as managing director of global finance operations.

He turned the worldwide repo and capital markets division of UBS become one of the most powerful investments on Wall Street. Finkelstein provides knowledgeable direction for Madison Trust’s financial and sales infrastructure as a pioneer in financial operational management.

Jim Riswold: Board Member

Jim Riswold

Mr. Riswold has 25 years of experience working in the trust and financial services sectors. He began his work in Sioux Falls’ First National Bank’s accounting division. After moving to the trust division a year and a half later, he rose to the position of Vice President and Manager of the Trust Operations Division. He also participated in the bank’s Trust Executive Committee, Trust Review Committee, Bank Operations Committee, and Bank Strategic Technology Committee during his time there.

Madison Trust Company Products: Gold, Silver, Platinum, And Palladium MetalsAll products offered by Madison Trust Company

You may invest in a variety of metals with the Self-Directed Gold IRA from Madison Trust, including gold, silver, platinum, and palladium. It’s significant to remember that every one of these metals must meet specific fineness requirements in accordance with the Internal Revenue Code:

  • Gold: 99.5% pure
  • Silver: 99.9% pure
  • Platinum: 99.95% pure
  • Palladium: 99.95% pure
Gold and silver bars

The fineness criteria for a Self-Directed IRA for gold, silver, and other metals do not apply to investments in precious metals that are government-minted (such as American Eagle coins). If you want to use precious metals that are not provided by the government, they must be accredited and meet the fineness standards.

However, it’s worth noting that they don’t offer specialized gold IRAs. Precious metals are just an investment option available with them.

If you’re interested in learning about how a gold IRA works and why I recommend it, check out the following guide:


Products for Self-Directed IRAs

Madison Trust Company services

Self-directed IRAs are one of the investment solutions that Madison Trust Company concentrates on offering to its clients. With the company, you have two alternatives for a self-directed IRA.

Beware of Gold IRA scams. Recently several scams have been charged by the authorities. Companies such as Regal Assets, Safeguard Metals and Red Rock Secured defrauded hundereds of retirees like you and me. I strongly suggest you learn how to identify gold IRA scams. You can request a free guide using the button below:


The company offers a large selection of resources to customers. These include webinars, guides and articles.

Madison Trust Company signup page

To obtain the products offered by Madison Trust Company, you must adhere to the guidelines provided on the website of the business. The following fields are serviced by this business:

  • Real Estate
  • Promissory Notes
  • Private Placement
  • Crowdfunding & Startups

How to Invest in Madison Trust Company IRA?Step-by-step guide for investing in Madison Trust Company IRA

Time needed: 15 days.

To invest in a precious metals IRA through Madison 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 Madison 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 rollover 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 Madison 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 them 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.

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.

I’m safe from the recession, are you?

I invested $100k in precious metals back in 2021. If I hadn’t made the move, I could’ve been bankurpt after the SVB bank crisis. Me and my family are safe from recession. Is yours? Get in touch with the best gold company in USA:

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

The fee structure of MTC is quite transparent.

Madison Trust Company charges $50 to open an account.

Along with the initial asset, the quarterly custody fee is $100. For extra assets, there is a $25 custodial fee charged every three months.

Madison Trust Company fees page

$500 is the required minimum cash balance, which can be paid as follows:

  1. Personal Check (non-IRA deposit)
  2. Deduction of $500 from your IRA funds
  3. Credit Card

Model for Asset-Based Pricing

A client of Madison Trust will be assessed fees based on the value of their assets under an asset-based pricing model. The costs under this model will differ. However, you might anticipate more fees as your asset base increases.

The Flat Pricing Structure

Flat pricing is another option provided by Madison Trust. Since Madison Trust asserts to give the lowest flat-rate fees, this model is perhaps the finest financial choice for investors.

Let’s look more closely at the charge structure for Madison Trust:

The price to open an account with Madison Trust ranges from $50 to $75, based on a few different factors. The first asset is part of Madison’s quarterly custody fee. The cost per quarter is $100. The price of extra assets is $25 each.

Several transaction fees are also charged by Madison Trust. Investment fees are $50 each, as are fees for re-registering investments and selling assets. The charge is $150 if you sell a piece of real estate.

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

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

Madison Trust Company Reviews and Complaints: BBB, Trustpilot, Sitejabber Read all the Madison Trust Company reviews & complaints on Madison Trust Company

With over 700 customers submitting reviews on Google about their interactions with the business, Madison Trust has amassed a substantial number of positive customer testimonials and impressively obtained an average rating of 4.9 out of 5.

Many of their customers reportedly thought Madison Trust provided excellent customer service. Customers also said that creating an account was a simple process.

However, they have also received some serious complaints alleging fraud and scam.

More on their customer reviews below:

Better Business Bureau (BBB):

According to 135 customer reviews, Madison Trust Company has a 4.84/5 BBB rating and an A+ rating. For nine years, the business has existed. The BBB rating is not, however, determined by customer reviews.

The business has been accredited by the BBB since 4/2/2015, according to their records.

Madison Trust Company BBB reviews and ratings page


Madison Trust Company Yelp reviews and ratings

Based on the reviews left by 111 customers, Madison Trust Company has a rating of 4.5 on Yelp.


The 169 reviews for Madison Trust Company have given it an average rating of 4.85 stars, which shows that most consumers are generally happy with their purchases.

Madison Trust Company reviews

Shopper Approved :

Based on the reviews left by 726 customers, Madison Trust Company has a rating of 4.9 on Shopper Approved.

Madison Trust Company review

Unfortunately, the company isn’t present on many prominent consumer review sites including Trustpilot and Consumer Affairs. Certainly, it can raise concerns regarding their reputation in the industry.

Some Client Reviews:

A client said he was happy with the business and added that they make everything quick and easy. He thanked the worker for giving him instructions and remarked that the latter had done exactly what he had promised. In addition, he expressed his appreciation for finding such a teacher to handle his priceless metal.

Positive Reviews:

Madison Trust Company review by Carlos

The consumer who made the aforementioned statement called Madison Trust to accelerate his transaction, and they were quite accommodating given the investment’s urgency. Elizabeth assisted to communicate and organize an on-time investment in a very kind and helpful manner.

Madison Trust Company review on BBB

Following the previous remark, Emily E. has been nothing short of courteous, intelligent, and helpful in guiding the setup of our IRA accounts and rollovers. She and the rest of the support/onboarding crew have addressed all of my inquiries and made the procedure simple. She made the decision to utilize Madison Trust as our custodian because she was pleased.

They offer exceptional customer service over the phone and through email, attentively responding to queries. This process is made simpler by their secure account upload interface, which lets you know right away whether or not your information was received and ensures that it was applied to the right account.

Madison Trust Company reviews on BBB

According to the comment above, Madison’s customer service is consistently top-notch. She talked with Kaylee that morning, and in a very professional, kind, and informed manner, she guided her through the steps of taking her RMD.

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

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


  • Unique investment offerings
  • Respected management team


  • High fees
  • No specialization in Gold IRAs

Although MTC is a legitimate company, it has several drawbacks I cannot ignore.

First of all, the team behind MTC also runs Broad Financial, a retirement investment company that focuses on offering IRA LLCs to customers.

As a custodian, it might put them at a conflict of interest if you have invested with another IRA company.

Also, the company has received several complaints online for following predatory practices and having high fees. These can be major issues for any investor.

If you’re serious about your retirement savings and are looking to hedge against inflation, you should check out our top gold IRA companies.

Gold IRAs are excellent investment tools and have become increasingly popular among investors.

Furthermore, if you want to find the best gold IRA provider of your state, check out the US map below:

Find the best Gold IRA company in your state