Is Provident Trust Group A Scam? (Look At This!) (Updated 2022)

March 19, 2022

Is Provident Trust Group A Scam

Welcome to my "Is Provident Trust Group A Scam?" review!

(UPDATED MARCH 2022)

Are you on the search for the best IRA firm to begin your alternative assets investment and build your IRA account?

Then, you probably found Provident Trust Group and was hoping that it is the one you have been looking for. Well, to find out, read this review! What is it? Is it legit? Or is Provident Trust Group a scam?

Here is the answer.

Provident Trust Group Review Quick Summary

Name: Provident Trust Group

Website: https://trustprovident.com/

Founder and CEO: Theresa Fette and Jason Helquist

Price: Varies depending on your investment

Rating: 1/5

Is Provident Trust Group A Scam logo

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What is Provident Trust Group?

Is Provident Trust Group A Scam website homepage

Provident Trust Group is an IRA custodian with more than 30,000 clients and investors in the U.S. and has over $3 billion worth of assets.

Moreover, it is considered as one of the most popular IRA custodians all over the United States. It was formed by a group of professional tax attornets who are more than qualified to cater the needs of its clients.

Theresa Fette, the CEO of the company, was included in the 2012 Fortune Magazine's list of the most powerful women entrepreneurs.

Currently, it is headquartered in Las Vegas, Nevada.

Provident Trust Group Services and Fees

Since Provident Trust Group is an IRA custodian, it provides various IRA services. Below, you can see the type of IRA and fees that you have to pay for in each.

Is Provident Trust Group A Scam Fees Schedule

As you can see, the Self-Directed Account requires a $295 annual fee. This type is the one that you will be using. Moreover, that fee does not include the precious metals storage.

Basically, you will be paying for the storage separately on your own. However, other companies do not practice this. In fact, there are some that offers storage services for free.

How to get started

Unfortunately, you cannot start an account using Provident Trust Group's website. To begin, you only need to contact the company.

You can do that through the following:

  • Physical Address: 8880 W. Sunset Rd., Suite 250, Las Vegas, NV 89148
  • PHONE: (888) 855-9856
  • FAX: (702) 253-7565
  • EMAIL: info@trustprovident.com

FAQs

Will they deliver your orders to your home?

Unfortunately, no. They don't have this kind of service unlike the other companies out there.

Can you store your investments with them?

No, you can't store your investments directly with them. However, it offers storage options provided by its partners. One of them is the Delaware Depository.

Again, the storage fees are not included on the list above. You need to pay for it separately.

Who can avail its services?

There is no clear information on this from its website. However, we can assume that it only caters to U.S. citizens since it is based on that country.

Ratings and Reviews

So far, Provident Trust Group sounds very promising. However, when I checked its online ratings and reviews, you can say that they are disappointing.

Considering that it has been around for years and that it is one of the most popular IRA custodians in the U.S., you should expect more.

Furthermore, it receive a lot of complaints and negative reviews. You can see them below.

Is Provident Trust Group A Scam BBB Rating
Is Provident Trust Group A Scam negative reviews

Pros and Cons

Pros

  • Offers various IRA services
  • It is well known
  • The CEO is a professional

Cons

  • Has a lot of negative reviews
  • Low ratings
  • Not BBB accredited
  • Received a lot of complaints
  • Storage fees are not included
  • Annual fee is actually more expensive compared to others
  • No live chat feature on the website

Is Provident Trust Group a scam?

Let's conclude this review by answering this question, "Is Provident Trust Group a scam?" and by giving my final verdict.

Provident Trust Group is not a scam. It does provide services and has been around for a long time. However, the low ratings and negative reviews says a lot.

These are from people who did business with the company. With that, this information serves as a warning for you. In the end, the decision will always be up to you.

If you are not satisfied with this, you can always check out the top recommended company in the industry below!

Thank you so much for reading my "Is Provident Trust Group A Scam?" review. If you have any comments or questions, feel free to leave them in the comments section.

Check out my other reviews here!

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 Questions? Call 855-444-7022


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