Madison Trust Company: Unique Highlights Overview
Madison Trust Company is a distinguished Self-Directed IRA (SDIRA) custodian, renowned for its client-centric approach and comprehensive services in the realm of alternative investments. Here are some of its unique highlights:
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Diverse Investment Opportunities
Madison Trust empowers clients to diversify their retirement portfolios beyond traditional assets. Investors can allocate funds into a wide array of alternative assets, including real estate, private placements, precious metals, startups, and crowdfunding ventures. This flexibility enables clients to tailor their investments to align with personal interests and expertise.
Transparent and Competitive Fee Structure
The company offers a flat-rate fee model, ensuring transparency and predictability in costs. Clients are charged a quarterly custodial fee of $105 for the first asset and $25 for each additional asset, irrespective of account value. This structure contrasts with the asset-based fees prevalent in the industry, potentially leading to cost savings as account balances grow.
Exceptional Customer Service
Madison Trust is committed to delivering unparalleled customer support. All client inquiries are addressed by Certified IRA Service Professionals (CISP), ensuring informed and responsive assistance. The company’s dedication to service excellence is reflected in its high client retention rate of 95% and an average rating of 4.9 out of 5 stars from customer reviews.
Educational Resources and Client Empowerment
Recognizing the complexities of self-directed investing, Madison Trust provides a wealth of educational materials, including webinars, articles, and explainer videos. These resources are designed to enhance client understanding and confidence in managing their retirement investments.
Strategic Partnership with Broad Financial
Madison Trust collaborates with Broad Financial to offer clients enhanced services, such as Checkbook Control through IRA LLCs or IRA Trusts. This partnership streamlines the investment process, granting clients greater autonomy and efficiency in managing their portfolios.
Strong Regulatory Compliance and Security
Chartered in South Dakota, Madison Trust operates under stringent regulatory oversight by the South Dakota Division of Banking. This ensures adherence to all applicable state and federal laws, providing clients with confidence in the security and integrity of their investments. citeturn0search6
In summary, Madison Trust Company’s unique combination of diverse investment options, transparent fee structures, exceptional customer service, educational support, strategic partnerships, and robust regulatory compliance distinguishes it as a leading choice for investors seeking to diversify their retirement portfolios through self-directed IRAs.
Who are the People Behind Madison Trust Company?
Madison Trust Company is led by a team of seasoned professionals with extensive experience in finance, real estate, and business development. Here are some key individuals behind the company:
E. Brian Finkelstein – Chairman and Shareholder
With over thirty years in global financial markets, Mr. Finkelstein has held significant positions, including President and CEO of Helix Financial Systems and Managing Director of Global Finance Operations at UBS. His expertise in financial operational management provides strategic oversight for Madison Trust’s financial and sales infrastructure.
Daniel Gleich – CEO & President, Board Member, and Shareholder
Mr. Gleich brings over twenty-five years of entrepreneurial experience to Madison Trust. As a hands-on leader, he is responsible for setting the vision, tone, and culture of the organization. His commitment to an “employee-first” culture emphasizes caring, collaboration, improvement, and empowerment, contributing to Madison Trust’s position as a top-rated custodian.
Mervyn Klein – Board Member and Shareholder
Mr. Klein has more than three decades of experience in the real estate sector. As a founding partner of LMS Realty, he transformed the historic American Can Factory into a thriving hub for the creative arts. His business acumen has been instrumental in bringing Madison Trust to the forefront of the self-directed retirement industry.
Jim Riswold – Board Member
With 25 years in the financial services and trust industry, Mr. Riswold has held roles such as Vice President and Manager of the Trust Operations Division at the First National Bank in Sioux Falls. He was also a founding member of Corundum Trust Company, serving as its Chief Operating Officer and a board member.
David Timpe, CPA – Board Member
A South Dakota resident, Mr. Timpe retired as a partner in a large regional CPA firm. He has provided interim executive leadership to various organizations, including serving as Interim CFO and CEO in different sectors. Currently, he serves on several boards in the financial, healthcare, and real estate arenas.
Gina Stoddard – Chief of Staff
Ms. Stoddard serves as the liaison between the President/CEO and the senior management team. She heads the recruiting and interviewing team and coordinates training and team-building events, embodying the company’s culture of caring, collaborating, improving, and empowering.
Kevin McNee – Director of Trust Services
Mr. McNee manages Madison Trust’s outward-facing business development activities and client service responsibilities. He represents the company at conferences and events, focusing on working with financial advisors to solve challenges in the wealth management industry.
This leadership team, with its diverse expertise and commitment to client-centric services, has been instrumental in establishing Madison Trust Company as a leading self-directed IRA custodian.
Does Madison Trust Company Offer Gold IRA Services?
Yes, Madison Trust Company offers Gold IRA services as part of its Self-Directed IRA offerings. A Gold IRA allows investors to hold physical gold or other approved precious metals as part of their retirement portfolio. Here’s a detailed overview of how their Gold IRA services work:
How Madison Trust’s Gold IRA Works
- Account Setup:
- Open a Self-Directed IRA account with Madison Trust. This process involves completing an online application, which includes selecting the type of IRA (Traditional, Roth, SEP, or SIMPLE) and providing personal and beneficiary information.
- Fund the account through a rollover, transfer, or direct contribution.
- Choose a Precious Metals Dealer:
- Madison Trust partners with reputable precious metals dealers, but clients are free to choose their preferred dealer.
- The dealer will assist in selecting IRS-approved precious metals, including gold, silver, platinum, and palladium coins or bars that meet specific fineness standards.
- Select an Approved Depository:
- Physical metals purchased for the IRA must be stored in an IRS-approved depository. Madison Trust provides a list of trusted depositories for secure storage, such as Delaware Depository or Brinks Global Services.
- Clients cannot store metals at home to comply with IRS regulations.
- Make the Purchase:
- After selecting the metals, the dealer provides an invoice to Madison Trust.
- Madison Trust processes the payment using funds from the IRA and ensures the metals are delivered to the chosen depository.
- Custodial Responsibilities:
- Madison Trust acts as the custodian of the Gold IRA, ensuring compliance with IRS rules.
- The company handles record-keeping, reporting, and administrative tasks, including annual valuation statements and required tax filings.
- Managing the Account:
- Clients can monitor their Gold IRA through Madison Trust’s online platform.
- They have the flexibility to make additional purchases, sell metals, or diversify into other assets within their IRA.
- Distribution or Rollover:
- At retirement, clients can choose to take distributions in cash or in-kind (physical gold).
- Any distributions are subject to IRS rules regarding taxes and penalties.
Benefits of a Gold IRA with Madison Trust
- Portfolio Diversification: Gold and other precious metals can provide a hedge against inflation and economic downturns.
- Expert Guidance: Madison Trust’s customer service team includes Certified IRA Service Professionals (CISPs) who guide clients through the process.
- Transparent Fees: Madison Trust offers flat-rate fees for custodial services, making costs predictable regardless of account value.
- Regulatory Compliance: Madison Trust ensures all transactions and storage practices comply with IRS rules, reducing the risk of penalties.
Key Considerations
- Approved Metals Only: The IRS requires that gold meet a minimum fineness of 99.5%. Examples include American Gold Eagles, Canadian Gold Maple Leafs, and certain bars.
- Storage Restrictions: Personal possession of IRA-owned gold is not allowed. It must remain in an approved depository until distribution.
Madison Trust Company’s Gold IRA services provide a secure and efficient way to include precious metals in your retirement portfolio while ensuring compliance with regulatory standards.
What Products Can You Purchase at Madison Trust Company?
Madison Trust Company specializes in Self-Directed IRAs (SDIRAs), allowing investors to diversify their retirement portfolios with a broad range of alternative investment products. Below is a detailed overview of the types of products you can purchase through Madison Trust:
Real Estate
- Direct Ownership: Purchase physical properties such as residential, commercial, or vacation rentals.
- Raw Land: Invest in undeveloped land for potential future use or resale.
- Real Estate Syndications: Join a group of investors to collectively invest in larger real estate projects.
- Tax Liens and Deeds: Acquire rights to delinquent tax properties with potential for high returns.
Precious Metals
- Gold, Silver, Platinum, and Palladium: Buy physical metals that meet IRS fineness standards for inclusion in IRAs.
- Coins and Bars: Includes popular options like American Gold Eagles, Canadian Maple Leafs, and other approved bullion.
Private Equity
- Startups and Small Businesses: Invest in privately held companies.
- Venture Capital Funds: Participate in funds that invest in high-growth potential startups.
- Private Placements: Purchase shares or equity in private companies or limited partnerships.
Promissory Notes
- Secured Notes: Loans backed by collateral, such as real estate or other tangible assets.
- Unsecured Notes: Higher-risk loans not backed by collateral.
- Real Estate Notes: Lend money to individuals or entities for real estate purchases and earn interest.
Crowdfunding Investments
- Real Estate Crowdfunding: Pool resources with other investors to fund real estate projects.
- Equity Crowdfunding: Invest in startups or businesses through online platforms.
Private Loans
- Peer-to-Peer Lending: Provide loans directly to individuals or businesses in return for interest income.
- Bridge Loans: Short-term financing options for businesses or real estate.
Cryptocurrency
- Bitcoin, Ethereum, and Altcoins: Invest in various cryptocurrencies through approved platforms.
- Blockchain Projects: Participate in investment opportunities tied to blockchain technology and digital assets.
Hedge Funds and Private Funds
- Hedge Funds: Invest in alternative strategies managed by hedge fund managers.
- Private Investment Funds: Participate in privately held funds, such as real estate or equity funds.
Energy Investments
- Oil and Gas Royalties: Invest in exploration, production, or royalties from energy companies.
- Renewable Energy: Participate in green energy projects, such as solar or wind farms.
Structured Settlements
- Legal Settlements: Purchase rights to receive payments from structured legal settlements.
Intellectual Property
- Royalties from Patents and Trademarks: Invest in IP rights and earn royalties from their use.
- Music and Film Royalties: Own a stake in royalties from creative works.
Foreign Investments
- International Real Estate: Buy properties in foreign countries.
- Foreign Currencies: Invest in forex markets or hold foreign currencies as an asset.
Other Alternative Assets
- Timber and Agriculture: Invest in farms, forests, or agricultural ventures.
- Art and Collectibles: While not typically IRA-approved, some forms of investment-grade collectibles may be permissible through specific structures.
- Litigation Finance: Provide funding for lawsuits in return for a share of the potential winnings.
Prohibited Investments
While Madison Trust allows for a wide range of alternative investments, the IRS imposes restrictions on certain assets:
- Life Insurance Policies
- Collectibles (art, antiques, wines, stamps, etc., unless structured through specific entities)
- Personal Use Real Estate (properties for personal or family use)
Madison Trust Company provides a flexible platform for diversifying retirement savings, giving investors access to a wide array of products beyond traditional stocks and bonds. The company also offers educational resources and expert guidance to ensure clients can make informed decisions within the regulatory framework of a Self-Directed IRA.
Madison Trust Company Fees and Pricing:
Madison Trust Company offers a transparent and straightforward fee structure for its Self-Directed IRA (SDIRA) services. Below is a detailed breakdown of their fees and pricing, effective January 1, 2025:
One-Time Setup Fee
- Account Establishment: A one-time fee of $50 is charged to establish a new IRA account.
Quarterly Custodial Fees
- First Asset: A quarterly custodial fee of $110 is charged, which includes the custody of the first asset.
- Additional Assets: Each additional asset incurs a custodial fee of $30 per quarter.
Transaction Fees
- Investment Fee: A fee of $50 is charged for each investment transaction, applicable to initial investments, reinvestments, and subsequent investments.
- Cash Disbursement Fee: A fee of $25 is charged when funds are disbursed from your IRA for distributions, outgoing transfers to another IRA or qualified retirement plan, and expense payment requests.
- ACH Disbursement Fee: A discounted fee of $10 per transaction is available for distributions taken via ACH, provided they are recurring at least quarterly.
- Re-Registration of Investment Fee: A fee of $50 is charged when an asset is transferred into or out of your Madison Trust IRA.
- Sale of Asset Fee: A fee of $100 is charged when Madison Trust sells an asset on behalf of your IRA.
Service Fees
- Incoming Wire/Instant Transfer: $25 per transaction.
- Outgoing Wire: $25 per transaction.
- Returned Payment: $25 per occurrence.
- Stop Payment Fee: $25 per request.
- Expedited Processing (2 business days): $50 per request.
- Overnight Delivery: $25 plus cost per occurrence.
- Late Fee: $25 per month, charged if custodial fee payment is not received on time.
- Corrected 1099R/5498: $25 per correction.
- Research/Special Services: $100 per hour.
Precious Metals Storage Fees
- Storage Fee: An annual fee of $150 is charged when precious metals are deposited into your IRA (by purchase or transfer) and annually thereafter. This fee includes the first $100,000 of metals held at Delaware Depository. Beyond that, storage fees are billed at $1 per $1,000 of asset value.
- Shipping Fee: $100 per shipment.
Account Termination Fee
- Termination Fee: A fee of $150 is charged if you close your IRA. This fee is charged in conjunction with any applicable transaction fees and any outstanding fees owed.
Minimum Cash Balance
A minimum cash balance of $500 is required, which may be paid via personal check (non-IRA deposit), deduction from your IRA funds, or credit card. This balance is not a cost but is maintained to cover fees if no other payment method is provided. Upon account termination, any remaining cash balance not used towards fees will be returned to the account holder.
Madison Trust’s flat-rate fee structure ensures that fees remain consistent regardless of account value, providing predictability and transparency for investors. This approach contrasts with asset-based fee models, which can increase as account balances grow.
For the most current and detailed information, it’s advisable to consult Madison Trust Company’s official fee schedule or contact their customer service directly.
What Do Madison Trust Company Reviews Say?
Madison Trust Company has garnered positive feedback across various review platforms, reflecting its commitment to customer satisfaction and quality service. Here’s an overview of their ratings:
Google Reviews: With over 700 customer reviews, Madison Trust Company boasts an impressive average rating of 4.9 out of 5. Clients frequently commend the company’s exceptional customer support and professionalism.
Birdeye: Based on 1,024 reviews, Madison Trust holds a 4.8-star rating. Customers highlight the company’s responsiveness and seamless account setup process.
Better Business Bureau (BBB): Madison Trust Company is accredited by the BBB and holds an A+ rating, indicating a high level of trustworthiness and minimal customer complaints.
Sitejabber: Madison Trust Company has a lower rating here, with 1.6 stars based on 5 reviews. Some customers have expressed concerns regarding fees and service experiences.
Overall, Madison Trust Company maintains strong ratings across multiple platforms, with the majority of clients expressing high satisfaction with their services. However, as with any financial service provider, it’s advisable to conduct thorough research and consider multiple sources of information when making decisions.
Examples of Madison Trust Company Reviews:
The customer service team at Madison Trust was exceptional.
From the beginning of setting up an account to the follow-up calls, it had been a positive experience for the on-boarding process.
They expressed gratitude to Emily R. and Jason Prezant for going above and beyond to address all their queries and for the follow-up. The responses to their queries via email were timely and to the point.
They also mentioned that the website of Madison Trust was very user-friendly, with pages perfectly arranged for navigation and clean operation. The technical team received praise.
They definitely recommended and referred Madison Trust for Self Directed IRA accounts to other investors.
They could honestly and unequivocally rate Madison Trust Company at 5 stars.
She was an elderly widow whose husband had taken care of all their finances, and she embarrassingly admitted that she was not knowledgeable in this area. When he wanted to start getting his estate in order, Emily at Madison was very helpful in walking him through the application process, and she explained the steps that made it easy for him to understand.
They were looking for a Self-Directed Real Estate IRA, and Madison Trust Company would definitely take care of them.
Customer service representative Emily H had been a sheer joy to work with. She had been very patient, understanding, friendly, responsive, and helpful. She had gone far out of her way to assist him with his Madison Trust account. For those who were not familiar with the appropriate manner and responsibilities for that type of account, all that could be said was that Emily H had been a friendly, helpful guiding light who had pro-actively assisted with any issues. She was a great reflection on Madison Trust. He confidently stated that Madison Trust was a very ethical and customer-focused organization. They did not hesitate to use their services.
Emily had helped with completing a deposit form and a distribution form from the client portal. She explained how it worked, and her explanation was very informative and clear.
She listened attentively and helped clarify his understanding of how the process worked and the differences between the timing of wiring funds and using ACH.
Madison trusted that they had an excellent employee in Ariana, who was also considered an exemplary worker.
She not only explained how expedited transfers were handled clearly and promptly but also called the wire transfer department to confirm when she would receive her wire. In addition to that, she had been very compassionate, as she had been an extremely skilled listener. Madison Trust was fortunate to have both Ariana and Emily in their customer support team. They hoped that the supervisors appreciated what an excellent job was done.
Why aren’t There Many Madison Trust Company Complaints?
The relatively low number of complaints about Madison Trust Company can be attributed to several key factors:
Exceptional Customer Service
- Certified IRA Professionals (CISPs): Madison Trust employs Certified IRA Service Professionals to assist clients. This ensures that inquiries and issues are handled by knowledgeable staff who understand complex self-directed IRA regulations.
- Personalized Support: Customers frequently praise the company for providing attentive and responsive service, which minimizes dissatisfaction.
Transparent Fee Structure
- Flat-Rate Fees: Madison Trust offers a flat-rate fee model instead of an asset-based fee structure, reducing surprises and frustrations related to hidden costs.
- Upfront Information: The fee schedule is clear and accessible, helping clients make informed decisions without encountering unexpected expenses.
High Operational Standards
- Focus on Compliance: Madison Trust adheres strictly to IRS and regulatory guidelines, reducing errors or penalties that could lead to complaints.
- Efficient Processes: The company is known for its smooth and timely account setup, transfers, and transactions.
Positive Client Experiences
- Educational Resources: Madison Trust provides ample educational materials to empower clients and reduce confusion about self-directed IRAs, making the investment process more straightforward.
- Consistent Communication: Regular updates and transparent communication ensure clients are well-informed, reducing the likelihood of misunderstandings.
High Customer Satisfaction
- Strong Reviews Across Platforms: Madison Trust consistently receives high ratings on platforms like Google Reviews and Birdeye, indicating widespread satisfaction with their services.
- Word of Mouth and Referrals: Satisfied customers often refer others, which speaks to the company’s ability to meet or exceed client expectations.
Proactive Issue Resolution
- Complaint Mitigation: The company likely addresses issues proactively before they escalate into formal complaints.
- Fast Response Times: Swift resolution of problems helps prevent dissatisfaction from spreading.
Specialized Focus on Self-Directed IRAs
- Niche Expertise: Madison Trust specializes in self-directed IRAs, allowing them to excel in their field and avoid common pitfalls seen in broader financial services.
Reviews Reflect Positivity
- High Retention Rates: Madison Trust reports a 95% client retention rate, a strong indicator that clients are satisfied with their services.
- Negative Feedback Handling: The few complaints that arise may be handled professionally, potentially resulting in withdrawn or resolved issues.
In summary, Madison Trust Company’s dedication to transparency, compliance, and customer satisfaction significantly contributes to its reputation for minimal complaints. It’s a trusted name in the self-directed IRA industry, with processes and services designed to preempt and address potential issues effectively.
Are There Any Madison Trust Company Lawsuits?
No.
We didn’t find any lawsuits involving this company.
Can You Trust Madison Trust Company? Is Madison Trust Company Legit?
Yes.
They are a legit firm specializing in SDIRAs and Checkbook IRAs.
If you’re ever curious about a financial company, just keep these tips in mind:
Tip #1: Check Their Regulatory Compliance and Accreditation
Check for proper licensing and registration with relevant financial regulatory bodies such as the Securities and Exchange Commission (SEC) or Financial Industry Regulatory Authority (FINRA).
Verify the company’s accreditation with industry organizations like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).
It will help you check how credible they are.
Tip #2: Look into The Company’s Background
- Research the company’s history, including years in business and any name changes.
- Examine the Better Business Bureau (BBB) rating and accreditation status.
- Review customer feedback on reputable third-party review sites like Trustpilot or Consumer Affairs.
Tip #3: Does the Company Offer Good Resources?
- Assess the clarity of information provided about fees, storage options, and buyback policies.
- Evaluate the quality and depth of educational resources offered to investors.
- Verify that the company provides clear information about IRS regulations regarding precious metals IRAs.
Tip #4: What are Their Product Offerings and Pricing?
- Ensure the company offers IRS-approved precious metals for IRA investments.
- Compare pricing with other reputable dealers to ensure competitiveness.
- Be wary of companies pushing numismatic or collectible coins over bullion for IRA investments.
Tip #5: Confirm the Storage and Custodian Partnerships
Verify that the company works with IRS-approved custodians and secure storage facilities. According to IRS’ regulations, you cannot store your gold IRA’s precious metals at your home.
You’ll need a certified third-party storage provider.
Check the company’s storage and custodian partner to ensure you’re working with a reliable firm. Moreover, ensure they offer segregated storage options for your precious metals.
Segregated storage means your owned precious metals products will be stored separately from other investors’ possessions. Similarly, non-segregated storage means your products will be stored along with others.
Keep in mind that storage providers charge extra for segregated storage.
Some popular custodians include Equity Trust and Goldstar Trust.
Red Flags to Watch For in Gold IRA Companies
- Promises of guaranteed returns or claims of “secret” investment strategies.
- Pressure to act immediately or make large investments without proper consideration.
- Lack of physical address or unclear company ownership structure.
- Unwillingness to provide detailed information about fees or policies in writing.
By thoroughly evaluating these aspects, investors can make an informed decision about the legitimacy and reliability of a gold IRA company. It’s crucial to conduct due diligence and, if necessary, consult with a financial advisor before making any investment decisions.
Madison Trust Company Review Summary:
Overall, Madison Trust stands out as a reliable name in this highly competitive market.
However, it’s always best to browse your options and see what others have to offer.
What are your thoughts on this company? Let us know in the comments.
