What is The Entrust Group?The Entrust Group Locations, Timings, Email, Phone, Services
The Entrust Group is a financial services company that specializes in self-directed individual retirement accounts (IRAs) and other tax-advantaged accounts. It provides custodial services and administration for these types of accounts, allowing individuals to invest in alternative assets beyond traditional investment options such as stocks, bonds, and mutual funds.
The company was founded in 1981 and is headquartered in Oakland, California. The Entrust Group enables investors to use their self-directed IRAs to invest in a wide range of alternative assets, including real estate, private equity, precious metals, private loans, cryptocurrency, and more. It acts as the custodian and administrator of these accounts, handling the necessary paperwork, reporting, and compliance requirements on behalf of the account holders.
By offering self-directed IRAs, The Entrust Group aims to provide investors with greater control and flexibility over their retirement funds, allowing them to diversify their portfolios and potentially achieve higher returns through alternative investments.
Address: 555 12th St #1250, Oakland, CA 94607
Toll-Free Phone: 800-392-9653
Local Phone: 510-587-0950
People Behind The Entrust Group: CEO, Owner, Co-Founders & MoreWho owns The Entrust Group? What is the management team behind The Entrust Group?
Hugh Bromma is the CEO and Owner of The Entrust Group. The company also has a group of IRA professionals who specialize in Self-Directed IRAs, real estate, and financial services at your offices. With their expertise, they can assist clients in navigating the various investment options, regulations, requirements, and benefits associated with self-direction.
Mr. Hugh Bromma: Chief Executive Officer and Owner
Hubert Bromma is a highly regarded trailblazer in the realm of alternative investments within tax-free and tax-deferred environments. His illustrious career spans several decades, encompassing banking, financial institution consulting, mergers and acquisitions, and real estate investing.
In 1981, Mr. Bromma pioneered the development of the first true “Self-Directed IRA” for multiple banks. In 1993, he consolidated his banking and pension management practice, which he had owned since 1981, to establish Entrust. From there, he embarked on establishing the sole national network of local branded offices dedicated to providing account administration and education services for self-directed retirement plans.
Mr. Bromma’s contributions extend beyond his entrepreneurial ventures. He is an accomplished author, having penned numerous articles and several books, including titles like “How to Invest in Real Estate and Pay Little or No Taxes,” “Do Your Own Qualified Retirement Plan,” and “How to Invest in Offshore Real Estate and Pay Little or No Taxes.”
He is also a sought-after expert in the financial media, frequently appearing as a guest on esteemed platforms such as CNBC, Bloomberg, and MarketWatch. Throughout the year, he conducts presentations on the subject of self-directed investing. Additionally, Mr. Bromma serves on the board of directors for various businesses and philanthropic organizations, further showcasing his commitment to diverse endeavors.
Mr. Gary Kowalski: Chief Financial Officer
Gary Kowalski became part of the Entrust team in 2010, assuming the role of Manager of Franchise Operations. His responsibilities expanded as he took on the position of Director of Sales, overseeing Entrust’s field offices. Currently serving as the Chief Financial Officer, Mr. Kowalski is responsible for managing financial operations, reporting, and treasury management within the company.
Before joining Entrust, Mr. Kowalski held significant roles in the finance and operations sectors. He served as the Vice President of Finance and Operations for Parkside Lending and as the Managing Director for Parson Consulting. In addition to his professional pursuits, he authored the book titled “The Franchise Ratings Guide” and founded the San Francisco Professional Career Network.
Gary Kowalski’s diverse experiences and expertise contribute to his pivotal role in guiding the financial operations of Entrust, ensuring efficient management and strategic decision-making.
Caroline Baldwin holds the position of Chief Product & Marketing Officer at The Entrust Group, where she plays a vital role in shaping and executing the company’s marketing strategy. Her journey with Entrust began in January 2015 when she joined as a Marketing and Education Coordinator. With more than 15 years of marketing experience spanning across diverse industries, including e-commerce and non-profits, Caroline brings a wealth of expertise to the team.
Caroline Baldwin obtained her Bachelor’s degree from the Université de Bordeaux in France, further enriching her global perspective and contributing to her well-rounded approach to marketing.
Tim Smith: Director of Operations
Tim Smith became a valuable member of the Entrust team in 2018, assuming the role of Director of Operations. In this capacity, Tim is responsible for overseeing the daily operations of the company, including the management of all back-office departments and client services.
Before joining Entrust, Tim garnered experience in wholesale mortgage lending, where he served as a quality control and compliance manager for a firm based in the Bay Area. Additionally, in 2010, Tim played a key role in establishing a real estate appraisal management company that catered to mortgage brokers and lenders nationwide.
The Entrust Group Products: Bullion Coins, Bars, And Rare CoinsAll products offered by The Entrust Group
The Entrust Group offers various products and services, including:
Self-directed IRAs: These are individual retirement accounts that provide investors with the flexibility to choose from a wide range of investment options beyond traditional stocks, bonds, and mutual funds.
Real Estate IRAs: Entrust allows individuals to invest their IRA funds in real estate assets. Such as residential or commercial properties, land, or rental properties.
Precious Metals: They offer the option to invest IRA funds in precious metals. Like gold, silver, platinum, and palladium, providing an alternative asset class for diversification.
Private Placements: The Entrust Group enables investors to participate in private placements, which are investment opportunities in privately held companies or projects.
Green IRA: This category includes investments related to environmentally friendly sectors, such as renewable energy, clean technology, or sustainable businesses.
It’s important to note that while The Entrust Group provides access to these investment options, customers are responsible for making their own storage arrangements for certain assets like precious metals. This typically involves engaging a qualified custodian or trustee to hold and safeguard the assets on behalf of the 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:
How to Invest in The Entrust Group IRA?Step-by-step guide for investing in The Entrust Group IRA
To invest in a precious metals IRA through The Entrust Group, 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 The Entrust Group 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 The Entrust Group
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 The Entrust Group 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.
The Entrust Group Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
The Entrust Group prides itself on its flexible and highly transparent IRA fee schedule, which aligns with the IRS requirements for self-directed accounts. To ensure compliance with IRS policies and proper record-keeping, the company has established four distinct categories, each with its own fee structure. These categories and their associated fees are as follows:
Account Establishment Fee: A one-time fee of $50 is charged for setting up a new account.
Annual Record-Keeping Fee: For accounts with a single asset and an Account Market Value (MV) of $50,000 or less, the annual fee is $199. For accounts with a single asset and an MV over $50,000, the annual fee remains $199, with an additional 0.15% fee on the account’s MV.
NOTE: For accounts with two or more assets and an MV of $50,000 or less, the annual fee is $299. If the account’s MV exceeds $50,000, the fee is $299 plus 0.15% of the account’s MV.
Purchase and Sale of Asset Fees: The fees for purchasing and selling assets vary based on the specific items being transacted, ranging from $0 to $250.
Transaction Fees: Transaction fees are determined by the type of transaction. For accounts with an MV below $50,000, there is no standard 0.15% fee imposed. However, for accounts with an MV exceeding $50,000, the fee is charged. It’s important to note that there is an annual cap of $2,299 for record-keeping fees.
By providing a comprehensive breakdown of fees in these different categories, The Entrust Group ensures transparency and allows clients to understand the costs associated with their self-directed IRA accounts.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. The Entrust Group on the other hand provides fewer options.
The Entrust Group Reviews and Complaints: BBB, Trustpilot, SitejabberRead all the Entrust Group reviews & complaints
On Google, The Entrust Group has 2.9 stars out of 5-star ratings based on customer reviews. There are a total of 36 customer reviews on Google. The reviews provided by its customers are of both kinds, i.e. positive and negative. Here on Google, we can see mixed reactions from customers. Some of them are praising its customer service while some of them are criticizing the company’s expertise and its products.
On the Trustpilot website, The Entrust Group has 2.9 stars out of 5-star ratings based on customer reviews. There are only 3 customer reviews on the website. According to these such ratings they are in an average state.
Better Business Bureau (BBB):
On Better Business Bureau website, The Entrust Group has an A+ rating with 3.39 stars out of 5-star ratings based on only 18 customer reviews. There are mixed customer reviews. They are since 41 years in the industry. A total of only 8 complaints have been filed and closed in the last 3 years. This business is also BBB accredited.
On Yelp, the Entrust Group has only 2 stars out of 5-star ratings. This is based on 68 customer reviews. The reviews are mostly negative. The customer criticized their services and products. While there are some complaints too regarding products and their shipping.
Business Customer Alliance (BCA):
On BCA, The Entrust Group has no star ratings. As well as no customers rated and reviewed them on BCA. Here, the company has a B grade as its company rating.
The Entrust Group has received several complaints on (Yelp, Google, BBB and Trustpilot)
The Entrust Group has received several unresolved complaints from customers. There are also several unresolved negative reviews on different platforms. Our #1 rated gold IRA company has ZERO unanswered complaints on BBB.
Application of The Entrust Group on Google Playstore:
The Entrust Group has an official mobile application available on the Google Play Store. They have 100+ downloads. The company primarily provides its services through its website and by phone. Customers can place orders for products online or by calling their toll-free number. The Entrust Group also offers educational resources and market insights on its website to help customers make informed investment decisions.
Some Negative Reviews:
#1. Gregory Akridge expresses his experience of working with the precious metals group to perform a Required Minimum Distribution (RMD) as akin to navigating through a complex maze of obstacles.
#2. Ray Rudolph alleges that the company filed a false tax report on his behalf, claiming income that he never received. Furthermore, he states that he closed his account with them several years ago, only to be informed three years later that they had supposedly disbursed nearly $50,000 to him.
Faced with this situation, Ray had to seek the assistance of an attorney. Additionally, it took two years to finally close his account. Ray concludes by labeling the company as complete thieves and liars.
#3. R.H. shares that their interaction with the company was solely due to their new 401k holder using them for a money transfer. However, R.H. expresses dissatisfaction with their experience, describing it as a terrible and difficult process to work with the company.
#4. Daniel strongly asserts that the company in question behaves like a criminal. He accuses them of accepting funds for specific losses and subsequently imposing fees that surpass any potential profit. Daniel claims to have incurred a loss of $58,000. He further alleges that the company falsely declared a payment for an asset with zero value. He strongly advises others to keep their money away from these individuals whom he considers to be criminals.
#5. Vinay expresses his unfortunate experience of interacting with Joshua Rodriguez, who, regrettably, embodies the poor service mentioned in the reviews below. Vinay describes the encounter as unhelpful, lacking in value, and characterized by incompetence. To make matters worse, Joshua’s behavior was exceptionally rude. Vinay strongly advises others to steer clear of such an experience and avoid dealing with Joshua at all costs.
Some Positive Reviews:
#1. Sagar expresses his satisfaction with a highly informative conversation he had with one of the representatives at Entrust’s Oakland office. He greatly appreciates the representative’s extensive knowledge regarding the transaction he is seeking to complete. Sagar acknowledges the valuable assistance provided by the representative and expresses his gratitude for their expertise.
#2. Christie shares her positive experience with Jorge Lopez, emphasizing his courteous demeanor while addressing her questions. She praises his extensive knowledge and ability to provide satisfactory answers to all of her inquiries. Christie expresses her appreciation for the excellent customer service she received from Jorge.
#3. Arlin commends Entrust for being extremely easy to work with. He expresses satisfaction with the customer service experience, noting that every time he calls for assistance with his accounts, he speaks with someone located in the United States who proves to be very helpful. Arlin concludes by expressing gratitude to Entrust for their service.
#4. Frank Pantell shares his experience of having a small IRA at Entrust for his 95-year-old mother. He admits that he believes it may be more trouble than it’s worth for the company. However, he highlights that Joshua and the entire team at Entrust consistently provide excellent service by promptly addressing his numerous questions and attending to all their needs. Frank emphasizes that their customer service is outstanding and expresses gratitude to the team for their assistance.
#5. William, a client since 1999, expresses his satisfaction with Entrust’s services. He highlights that the company has consistently followed his directions, which is the essence of having a self-directed account. William appreciates the valuable information provided by Entrust and finds their assistance helpful whenever he needs it. He concludes his feedback by expressing gratitude to Entrust for their services.
The Entrust Group Lawsuits: UniCourt & Justia Is The Entrust Group scam or legit? Are they worth it?
The Securities and Exchange Commission (SEC) filed a lawsuit against Entrust Group & Robert L. Bentley, Bentley Financial Services, Inc, alleging the following facts in support of its complaint:
The defendant is engaged in a fraudulent scheme to offer and sell privately issued notes which they falsely claim are bank-issued certificates of deposit (CD) or interest in such CDs which are insured by Federal Deposit Insurance.
Defendants are conducting a fraudulent scheme because investors can obtain a return on their principal investment at the promised maturity date only if the defendants are able additional investors.
As a result of these practices, defendants are fraudulently offering for sale securities in the form of notes or investment contracts.
Abcari filed a Civil Rights lawsuit against The Entrust group.
Is The Entrust Group Legit? Should You Invest With Them?Is The Entrust Group scam or legit? Are they worth it?
The Entrust Group is a well-established company that specializes in self-directed Individual Retirement Accounts (IRAs) and alternative investments. They have been in operation since 1981 and have a long track record in the industry. The company is regulated by the IRS and operates as a custodian for self-directed retirement accounts.
A+ rating on BBB
Received too many complaints
No specialization in gold IRAs
Clients are responsible for arranging their own storage options
Better suited for B2B dealings
However, I don’t recommend going to them directly. Instead, I suggest you get in touch with a specialized company first.
You can check out our top gold IRA companies of 2023 and see what the industry’s leaders have to offer.
Or, you can get a free gold IRA guide from our #1 rated company: