Ranked 3rd out of 10
483 total reviews
About Equity Trust Company
Equity Trust is a financial services company that enables individual investors to diversify investment portfolios through alternative asset classes, including real estate, private equity, private lending, notes, tax liens, digital currencies and precious metals.
Richard Desich – Founder and Chairman of the Board
Jeffrey Desich – Vice Chair
Richard A. Desich Jr. – Co-Founder, Executive Director
George E. Sullivan – CEO
Mike Dea – President
David R. Allen – COO
Matt Gardner – CFO
Frank Flanagan – CIO
Assets Under Management
Number of clients
1974 – Company is founded by Richard Desich
1983 – Receives IRS approval as a non-bank directed custodian
2003 – Equity Trust Company is formed and receives Trust charter
2011 – Equity Trust launches Equity Advisor Solutions which specializes in financial services
2018 – Equity launches a digital assets platform
2019 – Equity Trust launches myEQUITY account management system
2019 – Equity appoints George Sullivan as CEO
Equity Trust offers all the standard Self Directed IRA services including account set-up and general maintenance. They carry a full complement of standard products including:
- Self Directed IRA – A standard IRA that is Custodian held and set-up to allow for alternative investing.
- Self Directed Roth IRA – Similar to the standard IRA but funded with post-tax dollars.
- Self Directed SEP IRA – This is a retirement plan designed for small businesses (less than 25 employees.) It’s similar to a 401(k) but simplified and without as much paperwork.
- Self Directed SIMPLE IRA – A retirement plan designed for small businesses (less than 100 employees.)
- Self Directed Solo 401(k) – A retirement plan designed for self employed workers. It features high contribution levels and the possibility of a personal loan.
Equity also offers tax incentivized savings accounts.
- HSA (Health Savings Account) – Allows participants to save for health expenses within a tax advantaged framework.
- CESA (Coverdell Education Savings Account) – Allows participants to save for education related expenses.
Unique Services and Products
Equity Trust has branched out from servicing individual Self Directed IRA investors, and now offers a host of services that holistically integrate with the self directed market.
- Equity Advisor Solutions – This is a service aimed at investment advisors and Broker Dealers. It provides an interface where these financial professionals can manage both traditional and alternative assets in the same place. It includes a client portal, mobile app, and billing support. The main component of the system is the Trade Order Management System which allows the dealer to view client positions and execute all trades from one centralized location. Custom reporting is also available.
- ETC Brokerage – This service allows ETC account holders to have access to standard brokerage tools, so that they can invest in both traditional and alternative assets. Traditional assets include stocks, bonds, and mutual funds.
Process and Timeframe
Equity Trust employs a normative 3-part process for opening a Self Directed IRA.
- Open an Account – The company prefers that this be done via the online portal myEQUITY Online Application Wizard. Going through the wizard itself should only take about ten minutes. However, internal processing can lead to the account not actually being opened until three days later.
- Fund the Account – This can be done via a rollover, transfer, or contribution.
- Investing – The client finds the investment and then tells Equity to perform the necessary transactions.
Equity Trust charges an inclusive annual fee that is based on account value.
The first number is the Portfolio Value and following it is the Standard Fee:
- $1-14,999 – $205.00
- $15,000-24,999 – $290.00
- $25,000-49,999 – $330.00
- $50,000-99,999 – $400.00
- $100,000-199,999 – $480.00
- $200,000-299,999 – $660.00
- $300,000-399,999 – $710.00
- $400,000-499,999 – $1,025.00
- $500,000-599,999 – $1,680.00
- $600,000-699,999 – $1,785.00
- $700,000-799,999 – $1,890.00
- $800,000-899,999 – $1,945.00
- $900,000-999,999 – $1,995.00
- $1,000,000-1,999,999 – $2,050.00
- Over $2,000,000 – $2,150.00
Additional fees include:
- Online application fee: $50
- Paper application fee: $50
- Partial termination fee (per asset): $100
- Full termination fee: $225
- Distribution or re-registration fee (per asset): $100
1 EQUITY WAY
WESTLAKE, OH 44145
Fax: (440) 366-3750
Monday – Friday 9:00 AM – 6:00 PM (EST)