What is Strata Trust Company?Strata Trust Company Locations, Timings, Email, Phone, Services
Strata Trust Company is a self-directed IRA custodian and trust company based in the United States. The company was established in the year 2008. They specialize in providing custody and administrative services for self-directed individual retirement accounts (IRAs). Self-directed IRAs allow individuals to invest in a wide range of alternative assets beyond traditional stocks, bonds, and mutual funds.
As a custodian, Strata Trust Company holds the assets within the self-directed IRA on behalf of the account owner. They facilitate transactions, maintain records, and ensure compliance with IRS regulations regarding self-directed IRAs.
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Strata Trust Company offers a variety of investment options within self-directed IRAs, including real estate, precious metals, private equity, private debt, crowdfunding, structured settlements, and more. They aim to provide investors with the flexibility to diversify their retirement portfolio and pursue alternative investment opportunities.
Strata Trust Company prides itself on providing innovative solutions to address various IRA challenges. They offer a range of options, particularly when it comes to gold IRAs, catering to investors interested in precious metals. Moreover, the company leverages cutting-edge technologies to ensure the protection of clients’ assets.
Initially established as a self-directed IRA custodian, Strata Trust Corporation expanded its services to encompass trust-related offerings. Presently, the corporation generates sales amounting to thirteen million dollars and manages assets exceeding 1.5 billion dollars. They facilitate funding for multiple types of IRAs, including regular and Roth IRAs.
Location: 7901 Woodway Dr. Waco, TX 76712-3896
People Behind Strata Trust Company: CEO, Owner, Co-Founders & MoreWho owns Strata Trust Company? What is the management team behind Strata Trust Company?
Kelli Click is the President of Strata Trust Company, Mr. Jeff Thompson is the Chief Operating Officer at the Strata Trust Company and Michelle Maruri is the Chief Financial Officer of the company.
Kelli Click: President
She holds the esteemed position of President at Strata Trust Company. This makes her one of the few female presidents in the retirement industry. She has been at the helm of the company since 2009, demonstrating her long-standing commitment and leadership within the organization. Prior to her tenure at Strata Trust Company, Click served as the Vice President of Sales at Sterling Trust Company.
One notable aspect of Click’s professional background is her extensive experience in the real estate sector. Her expertise in real estate provides valuable insights and knowledge that contribute to Strata Trust Company’s ability to effectively serve clients seeking real estate investment opportunities within their self-directed IRAs.
With Click’s leadership and her background in the industry, Strata Trust Company is well-positioned to assist clients in navigating the complexities of real estate investments within their self-directed IRAs. Her experience and expertise bring added value to the company and its clients, fostering a strong foundation for success in the realm of self-directed retirement accounts
Jeff Thompson: Chief Operating Officer
With an impressive 29-year tenure in self-directed IRA investing, Jeff Thompson is a seasoned professional in the field. At Strata Trust Company, he takes on a crucial role by providing custodial services to the company’s largest investors. Thompson brings a wealth of experience and knowledge to the table, enabling him to effectively cater to the unique needs and requirements of these prominent clients.
Before joining Strata Trust Company, Thompson held the position of President of Operations at Sterling Trust Company, showcasing his expertise and leadership within the industry. Notably, he played a significant role in numerous acquisitions of other custodians during his career, demonstrating his proficiency in navigating complex business transactions and integrating new entities into existing structures.
Michelle Maruri: Chief Financial Officer
Michelle Maruri is a highly experienced professional in the self-directed IRA industry, accumulating over 30 years of valuable expertise. Throughout her career, Maruri has held key positions overseeing accounting and information technology teams. Her comprehensive understanding of these areas enables her to effectively manage the financial and technological aspects of Strata Trust Company’s operations.
Strata Trust Company Products: Bullion Coins, Bars, And Rare CoinsAll products offered by Strata Trust Company
Strata Trust Company offers a range of investment options for individuals looking to diversify their self-directed IRAs.
Some of the investment options provided by the company include:
Precious Metals: Investors can choose to allocate their IRA funds toward various precious metals like gold, silver, platinum, and palladium. This option allows individuals to take advantage of the potential value and stability of these assets within their retirement portfolio.
Real Estate: The company enables investors to invest in real estate through their self-directed IRAs. This includes residential properties, commercial buildings, land, and other real estate opportunities. Investing in real estate within an IRA can provide potential income generation and long-term appreciation.
Private Equity: Investors have the opportunity to allocate their IRA funds towards private equity investments. Private equity involves investing in private companies, start-ups, or private investment funds. This option allows investors to diversify their portfolio beyond publicly traded securities and potentially access higher returns.
Crowdfunding: The company facilitates IRA investments in crowdfunding platforms, allowing investors to participate in various projects and entrepreneurial ventures. Crowdfunding offers the potential for investing in innovative startups and supporting entrepreneurial endeavors.
Private Debt: The company provides options for investing in private debt instruments within self-directed IRAs. This may include loans, promissory notes, or other debt-based investment opportunities. Private debt investments can offer fixed-income potential and diversification.
Structured Settlements: The company allows investors to explore structured investment options such as government bonds or other structured financial products. These investment instruments can provide a combination of fixed income and potential growth opportunities.
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How to Invest in Strata Trust Company IRA?Step-by-step guide for investing in Strata Trust Company IRA
To invest in a precious metals IRA through Strata Trust Company, here are the general steps:
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 Strata Trust Company to recommend an IRA company and provide the necessary paperwork. However, I don’t recommend doing so.
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.
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 Strata Trust Company.
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 essential to get guidance from Strata Trust Company in this area.
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 directly. 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.
Strata Trust Company Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
Strata Trust Company implements a fee structure that is divided into three categories for different account types: a precious metals IRA, a basic IRA, and a flex IRA. To initiate any of these accounts, a setup fee of $50 is charged.
The annual account fees vary among the three categories. For a precious metals IRA, the annual fee is $75. A basic IRA incurs an annual fee of $100, while a flex IRA carries a higher annual fee of $250. The basic account type offered by this company is designed for public investments, encompassing brokerage accounts, certificates of deposit, real estate investment trusts, and limited liability corporations.
The flex IRA is suitable for investors who wish to include alternative assets that are not considered public investments. This category includes private notes, private stock, real estate, futures, commodities, and even precious metals.
It is important to note that within the flex IRA, there is an additional $100 annual fee for holding real estate and a $50 annual fee for holding private notes. There is also a $100 fee per year for storing precious metals. For those who opt for segregated storage of precious metals, the fee for the same service increases to $140 annually.
Their fee structure appears to be reasonably low. It should be noted that there are additional fees of $50 for record-keeping, wire transfers, and other similar services. These fees may apply when customers require specific services. Despite these additional charges, Strata Trust Company maintains a fee structure that is transparent and competitive within the industry.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. Strata Trust Company on the other hand provides fewer options.
Strata Trust Company Reviews and Complaints: BBB, Trustpilot, SitejabberRead all the Strata Trust Company reviews & complaints
Better Business Bureau (BBB):
On the Better Business Bureau website, Strata Trust Company has A+ ratings based on only 8 customer reviews. They are since 15 years in the industry. The company has 1.5 stars out of 5 stars rating. A total of 10 complaints have been closed in the last 3 years. This business is not BBB accredited on Better Business Bureau website.
On Google, Strata Trust Company has 4.7 stars out of 5-star ratings based on various customer reviews. There are 252 customer reviews on Google, and mostly all of them are positive. Customers praise the company’s excellent customer service, professionalism, and expertise.
On the Trustpilot website, Strata Trust Company has 4.8 stars out of 5-star ratings based on customer reviews. There are 1,193 customer reviews on the website. The business has an excellent rating on Trustpilot.
Some Negative Customer Reviews:
#1. Wayne expresses his disappointment, stating that when he bought gold, he was persuaded to purchase Canadian coins, which ultimately resulted in a significant loss of his income.
#2. Craig Brown warns potential buyers to be cautious, as he had a negative experience with Strata Trust Company and Advantage Gold. He alleges that they charged him thousands of dollars in fees, resulting in a substantial net loss for him.
#3. Mari Ben shares their frustrations with the company, highlighting several issues. Difficulty in getting their calls answered over a two-year period while settling an estate, receiving conflicting information from different individuals on the proper settlement process, being provided with an incorrect 1099 form for filing, and experiencing long wait times on the phone, with one-call dropped after waiting for half an hour.
#4. Jay S expresses his dissatisfaction with the company, stating that he finds them untrustworthy. He is currently awaiting his IRA but has experienced a lack of communication from the company, which leads him to believe that they are aware of their wrongdoing. He advises others to be cautious, as the company does not provide essential information upfront.
#5. K. Ludwig expresses frustration with the company, stating that he was unable to withdraw his money or engage in any transactions without having to invest more funds. This situation has caused significant frustration for him.
Some Positive Customer Reviews:
#1. Robert Dean commends the customer service agent for their exceptional assistance. The agent was extremely helpful, providing clear guidance on accessing all of Robert’s statements and patiently walking him through them. They also answered all of his questions in a friendly and patient manner. Robert expresses his appreciation for the excellent support received.
#2. Chris Sweeney praises the Strata staff, commending their responsiveness, support, and timely assistance. He highlights the secure nature of their websites and the user-friendly, intuitive platforms they provide for navigation.
#3. James White expresses his gratitude towards Ms Christina Allison for her invaluable assistance. He commends her for being helpful, patient, and professional throughout the process of addressing his issue. James recognizes her as a true asset to the company and appreciates the level of support she provided.
#4. Jim Richerson expresses his satisfaction with Mary B. at STRATA, praising her patience and helpfulness during their conversation. He had to make updates to several documents, and Mary guided him through the entire process smoothly. Jim enthusiastically applauds Mary’s support, saying, “GO MARY!”
#5. Rick Smith commends Elissa for her excellent work in assisting him with setting up a solution for a minor problem related to phone numbers. He acknowledges her efforts and appreciates the support she provided in resolving the issue efficiently.
Strata Trust Company Lawsuits: UniCourt & JustiaHave any customers sued Strata Trust Company?
On 26 April 2022, the City Of Rogers AR filed a Property Eminent Domain lawsuit against Strata Trust Company.
Is Strata Trust Company Legit? Should You Invest With Them?Is Strata Trust Company a scam or legit? Are they worth it?
No, I don’t think you should invest with them directly.
Numerous positive reviews online
Maintain transparency regarding their management team
No BBB accreditation
Relatively new in comparison to other custodians
Received many complaints on different consumer platforms
Although they are a renowned custodian, they have several red flags as well.
Strata Trust Company is a legitimate company that operates as a self-directed IRA custodian and trust company. They have been in business for several years and offer a range of IRA solutions and investment options.
The company has an A+ rating but is not BBB accredited as well as has poor ratings and reviews on BBB.
When considering whether to invest with any company, it’s important to conduct thorough research and due diligence. This includes reviewing the company’s reputation, customer reviews, fees, services, and regulatory compliance.
If you’re interested in safeguarding your retirement savings, I suggest opting for a gold IRA. You can get a gold IRA guide from our top-rated IRA provider here: