Are you looking for a trusted partner for your financial needs?
You may prefer Pacific Premier Trust. To know more about the company, the following are some reviews to guide you on whether Pacific Premier Trust is for you or not.
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Who is Pacific Premier Trust?
The Pacific Premier Trust is a financial organization associated with a bank helping clients to open and keep traditional and self-directed accounts for retirees. It was established in December 1989 as PENSCO Trust. The company is based in Irvine, California. It has 3 physical locations for its clients, including San Francisco, Irvine, and Denver, Colorado.
The company stated that they have 40,345 unique assets in custody. The custodian joined the Pacific Premier Bank in 2020 and took the bank’s name. They offer Roth, custodial, inherited, traditional, and self directed IRAs. The organization provides different custodial services for retirement clients. These include financial transaction processing, account applications, activation, reporting, and record-keeping for IRS.
In addition, the company also maintains small business retirement accounts like SEP and simple IRAs.
What are the features of Pacific Premier Trust?
Pacific Premier Trust is equipped with many features to cater to the needs of its clients. The organization can provide you with the following retirement accounts and funds.
Traditional IRA
The traditional IRA has no minimum contribution requirements or income limits and contributions to the account on a pre-tax basis. This retirement account is ideal if you wish to defer tax payments until you withdraw funds.
Roth IRA
Roth IRA is a retirement account that can be contributed after income taxes are paid. It allows tax-free withdrawals as you pass 59 and a half years of age. It can be the best option if you expect a higher tax bracket once you retire. If you’re a holder of a Roth IRA, you should meet the income limitations to contribute set by the IRS.
Self directed IRA
IRA can be self directed. Self directed IRAS are labeled as such if you decide regarding investments. This account opens you up to a new set of alternative investment options, such as precious metals.
Custodial IRA
A parent may open a Roth or traditional IRA in their child’s name as a custodial account. Then, the child can contribute to the account as long as they have a source of income. Other family members can also make contributions.
Inherited IRA
An inherited IRA is also called a beneficiary IRA. It is an account passed on to a person upon the demise of the initial account holder. This account type can be reopened as a new Roth or traditional, but the new holder is not allowed to contribute to the account.
Business IRAs
The company partners with employers to open and maintain retirement accounts for their businesses. It can include SEP and simple IRAs. Simple IRAs can be provided to small businesses with less than 100 workers, and the employer can receive tax deductions for the contributions made on behalf of their employees. On the other hand, SEPs are accounts that an employer can contribute while the team members make investment decisions.
Coverdell Education Savings Account (ESA)
The ESA is a savings account designed for an individual’s education. In this account type, you can withdraw the funds tax-free to pay for the holder’s tuition and other schooling fees. However, if the money is not used as the holder turns 30, the costs and taxes can be placed on withdrawals.
Why should you choose Pacific Premier Trust?
The company can help you with your specific needs. The following are some factors why you should choose the service of the business.
Suitable for small business owners
The best thing about the company is that it can provide many beneficial options for small business owners, such as SEP, simple IRAs, and solo 401 (k) s. It is a good option if you wish to improve your team members’ retirement funds and get some tax deductions.
Quality service
The organization can offer you quality service when it comes to your asset. They will explain the transaction and provide the best assistance for your specific needs. They also have transparency on their service for your peace of mind. You can contact their team whether you have questions about your self-directed IRA account, private equity, private placement, and other service.
Established account holders
Pacific Premier Trust has many fees and minimum asset requirements. So, it is ideal for established investors compared to those exploring or starting their options.
Professional team
The organization has reliable employees that have expertise in the industry. They will explain to you your specific options for your account. They will assist you from start to finish, and you have an assurance that your personal details will remain safe and secure. They treat their clients with a high level of professionalism.
It is good for those who inherited someone else’ IRA
Any person may inherit a retirement fund from anyone. The company’s team has experience in converting an inherited IRA into a traditional or Roth account.
In this review, we will also discuss the different investment types for self directed accounts.
Different investments for self directed accounts
You can choose from the following options for traditional and alternative investments, such as:
Promissory notes
Precious metals including platinum, gold, palladium, and silver
Real estate
Stock and bonds
ETFs
Mutual funds
Wind farms
Private equity
What are the fees of Pacific Premier Trust?
The fee schedule of the organization details annual dues costs, administration fees, and costs for different actions taken on the account. They have a $750 minimum annual fee and $5,000 minimum balance requirement, and $1000 for other asset types.
The administration fee is based on the total amount of the assets of the holder. Other examples of the organization’s charges are $150 for Roth conversion, $225 for an account cancellation fee, and $50 for processing tax documents.
If you want to know more about the process of the company, you can visit their website.
Key pages on the website of Pacific Premier Trust
The following are the key pages you can find on the site of the organization.
Asset Classes
On this page, you can find details regarding their services for asset alternatives.
FAQs
You can get answers to your questions about the services and self directed IRA investment of the organization.
Forms
On this page, you can see the customers’ forms for opening accounts and completing transactions with the company.
Through their page, you can understand the process for your investment with the organization.
Contact details of the Pacific Premier Trust
You can reach out to the team of the organization and get customer support through the following contact details.
Toll-free phone – 855-453-4960
Address – 17901 Von Karman Avenue, Suite 1200, Irvine, CA 92614
Website – https://www.pacificpremiertrust.com/
Email – Web form
About the Management
Unluckily, there is not much available information about the management team of Pacific Premier Trust. However, we find some information on their site, including William Eustis as the Head of Sales and Tamara Wendoll as COO.
Tamara Wendoll, EVP and COO
Wendoll has about 25 years of experience in the investment industry. She started serving in the Pacific Premier Trust way back in November 2021, after she spent 9 years as COO of the Durham Trust Company.
William Eustis, Head of Sales and SVP
Eustis began serving the Pacific Premier Trust way back in October 2020. He has more than 50 years of experience in the investment industry. Formerly, he was at the Bank of America for six years and became the Cannon Financial Institute’s Executive Vice President for 8 years.
Products and Prices at Pacific Premier Trust
Pacific Premier Trust is among the legal companies that can help you invest in different asset classes for custodians. They provide promissory notes, real estate, wind farms, marketable securities, and precious metals.
Additionally, the trust uses the services of a top-tier depository, including the Depository Trust Company of Delaware, LLC.
There will be low storage costs if you have a huge amount of precious metals. There is a $0.80 quarterly fee for each $1,000 in value of silver, gold, palladium, or platinum. The company will charge you a $95 minimum each quarter, which can add up to $380 each year, slightly higher than the average flat storage fee.
It is also possible to segregate precious metals holding for an additional fee. With this, your quarterly storage fee will increase to $160 each $1,000 in value. On the other hand, the lowest quarterly fee is around $190. The segregation of your holding will ensure that you can get accurate items you purchased as you take delivery.
The commingled holdings are more affordable since the storage facility bundles items in one location. The bullion gold bars from particular refiners come with similar characteristics, the same for mint coin items. Some investors choose to store their bullion in separate specific storage locations.
You should keep in mind that not all custodians will provide segregation for their storage services. So, Pacific Premier Trust can be beneficial for you when it comes to this feature.
Pacific Premier Trust Complaints and Ratings
BBB – Customer Rating 1 Star out of 35 reviews
Better Business Bureau – Rating B
BBB – Complaints Closed 17
Business Consumer Alliance – N/A
Based on Forbes, the organization is among the top banks in America. There is also good news for the company, including the new staff on the business’ Board of Directors. The additions as of August 2022 include a former Columbia University School of Law’s Harlan Fiske Stone Scholar, Stephanie Hsieh.
Advantages and Disadvantages of the organization
Like other companies, the business also has its specific advantages and disadvantages.
Pros
They have more than 3 decades of experience in the business
They partner with top-tier depository
The organization can handle all alternative assets
Has a low fee for the biggest account sizes. Has 0.10% on a balance of more than $5000
Cons
It comes with a high minimum annual fee of $750
Mainly focuses on institutional and high-net-worth investors
Self Direct Your Retirement Transparency Index
Self Direct Your Retirement Transparency Index is a metric developed by the organization as an indication of transparency of administrators and self-directed IRA custodians. With this, you have an assurance that there is transparency regarding your retirement accounts. It also proves that they don’t hide anything regarding their activities.
The Self Direct Your Retirement Transparency Index is divided into 2 parts. The first is when they offer information to us voluntarily, or we find such data on our own. The companies that provide data were given the ‘company certified seal.’
The index’ second part is the transparency of companies who offer us data. The ideal number is above 80%. There may be legit reasons that companies don’t provide specific information.
Frequently Asked Questions
To learn more about the business, here are some frequently asked questions.
How much does it cost to begin a Gold IRA?
The cost of applying for a gold IRA range from \$50 to \$150.
Can you purchase gold in Roth?
Yes, you can purchase gold in the self-directed gold Roth. Meanwhile, purchasing gold can be associated with additional expenses and taxes.
Can you store gold through your Gold IRA at home?
The physical gold should be stored in an IRS-approved area. So, it doesn’t involve safety deposit boxes or home safes.
What is precious metals or gold IRA?
The gold IRA is a retirement account that invests in alternative sources, including silver, gold, palladium, or platinum. This IRA type offers additional security to the clients’ retirement portfolios by serving as a hedge against inflation.
Is Pacific Premier Trust worth it?
Yes, choosing the organization for your specific investment can be worth it. As mentioned earlier, it can offer you comprehensive options of products and services to meet your particular needs for your assets. They also value the importance of their client’s safety and security when dealing with them. You can ask for help from their members whenever you encounter some issues while using their services.
If you have high standards for your precious metals or retirement accounts needs, the business can be right for you. They will give you excellent customer support to ensure that your assets are in safe hands.
The time and effort you invest with the company are all worth it because they can give you quality services. They treat their clients with honesty and professionalism, making them one of the most trusted financial organizations on the market today. In addition to their friendly staff, they also have a well-experienced team, so you have an assurance that you’re dealing with the right company.
Final Words
With the help of these reviews about the organization, we hope that you have already made a decision if the company is right or not for your investment. With this review, you already learn about the benefits and drawbacks of the organization. So, the choice is yours if you will avail the products or services of the organization.
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About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He's also a published author, and his views on investing have been featured in USA Today, Tech Times, The Huffington Post, Nasdaq, and many more.
