Is Provident Trust Group A Scam? (EXPOSED?!) (Updated 2023)

March 26, 2023

Is Provident Trust Group A Scam

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

(UPDATED 2023)

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.

If you prefer to just save the time and hassle, you can click here to check out our top-recommended precious metals IRA company!

Provident Trust Group Review Quick Summary

Name: Provident Trust Group

Founder and CEO: Theresa Fette and Jason Helquist

Price: Varies depending on your investment

Rating: 3/5

Is Provident Trust Group A Scam logo

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 attorneys 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, including self-directed IRAs. The company offers IRA services for both individual clients and for businesses.

  • Individual
  • For Businesses
    • SEP IRA
    • Individual 401(k) Plan
    • Qualified Investment Plan

Below, you can see the type of IRA and fees that you have to pay for in each.

Is Provident Trust Group A Scam fee schedule 2022

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 and notify them that you want to start an IRA. 

The website summarized the process in three steps:

  1. Open or start an account.
  2. Fund it by transferring/rolling over funds.
  3. Start investing.

Payment Options Available

Provident Trust Group accepts Visa, MasterCard, Discover, or American Express as payment methods.

You can pay via their website and only needs your Account Number. Furthermore, you need to take note that you cannot use credit cards for your IRA Contributions.

Contributions to IRAs must be sent only by check or wire.


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 (April 2023 Update!)

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 Review 2023
Is Provident Trust Group A Scam Yelp Review 2023
Is Provident Trust Group A Scam negative reviews

2023 UPDATE!

If you scroll all the way to the bottom and read the recent comments this Provident Trust Group review got, you will read 2 reviews left by some recent Provident Trust Group customers.

In a few words these investors say that they have been robbed of their money in a sneaky way, they even had the Provident Trust Group advisor visit their houses and scam them!

Just read the comments and you will see!

Pros and Cons


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


  • 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?

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 say 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.

Anis is a digital marketing expert that enjoys writing blogs and helping people avoid scams online; he is passionate about investing in real estate and gold; in his free time, Anis loves playing football, going to the gym, and hanging out with friends.

By the way, if you are tired of scams and want to invest with a legit gold company, check out my 6 top legit gold IRA companies of 2023!


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  1. i invested in provident 10 years ago. my finacial advisor promised me i would be getting monthly payment, and at the end of 5 years i would get $500.000 i hardly received anything. first he said 5 years now its 10. what a liar. his name is michael lloyd. he told me my money is in a masterfund. i would text him and provident to give me the number to the master fun d and they would go back and forth with each other. i truly believe there is no master fund. this is a pyramid scam.where's my money its been 10 years now. i gave him, $95.000 of my money to invest. he explained everything to me in my house at my table and none of it was true. one lie after another. 1st he said 5 yrs now its 10 years and still no money? i constantly went back and forth with both michael lloyd and provident. no one knows any thing? i won't recommend anyone to invest in this pyramind scam or mlm

    1. Hi Micheal, I’m terribly sorry to hear about your story with Provident Trust Group financial advisor, but how did you start your relationship with the company, how did you meet their financial advisor was it via their website or somewhere else? Because this smells like a big scam to me.

      1. yes, michael lloyd and provident are thiefs, if they weren't i would of had my money a long time ago. i first heard lloyd on the radio advertiseing. i then called the jackass to explain more about this investment at my house. sounded to goood to be true. he said nobody lost money in this provident co. in 100 years. he explained to me and showed me how it works. by the end of 5 years invested i would get $500.000. now it 's been 10 years and nothing. i am going to sue for a million dollars that he owes me. now that it's been 10 years. plus my attorney fees. these thiefs that work there at provident or tesoro, or lifesettlements don't have a clue. no body knows anything. i honestly believe there is no master fund. nobody can give me a number to the master fund as they claim. they also claim as they advertise they have billions of dollars invested in the co. but they won't give me what is due to me. this is in deed a pyramid sceme, fraud, and a scam.

        1. Hi Micheal, I’m very sorry to hear about that, it looks like indeed Provident Trust group is a scam based on your comments!

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