Kingdom Trust Review: An Honest Look at the Self-Directed IRA Service
Is Kingdom Trust the right Self-Directed IRA custodian for you? In our Kingdom Trust review, we directly assess their service offerings, fee structure, and customer feedback. With this information, you’ll be better positioned to make an informed decision about your retirement investment strategy, without having to navigate through jargon or sales pitches.
Kingdom Trust is a company established in 2009, known for offering specialized asset custody, including traditional and alternative investments like real estate, private equity, and cryptocurrencies within retirement accounts.
The firm has a diverse fee structure, where clients may incur specific account maintenance fees, transaction fees, and variable storage fees, depending on their investment choices, without any hidden costs.
While Kingdom Trust provides secure custody services and a broad range of investment options and is notable for digital asset security, it faces criticisms regarding customer service, communication, and transaction fees.
Kingdom Trust Overview
Kingdom Trust Company was established in 2009, and since its inception, it has continuously strived to cater to the unique requirements of its investors, particularly in the realm of alternative assets. The firm’s specialized approach to asset custody spans from traditional investments, such as stocks and bonds, to non-traditional assets like real estate, private equity, and digital currencies, all within a retirement account.
Under the leadership of CEO Ryan Radloff, Kingdom Trust has focused on providing innovative custody solutions for a wide range of assets, fostering an environment where clients feel confident in the security and potential growth of their investments.
Company History and Evolution
From its humble beginnings in 2010, Kingdom Trust has grown exponentially, providing a platform that allows investors to diversify their portfolios beyond traditional assets like mutual funds, stocks, and bonds. The company rebranded to Choice in 2020 to better reflect its commitment to offering increased accessibility to bitcoin and other digital assets, catering to the needs of individual investment advisors and investors alike.
Today, Kingdom Trust boasts over $12 billion in assets under its custody, catering to over 100,000 clients.
Services Offered by Kingdom Trust
Beyond its reputation as a trusted custodian, Kingdom Trust offers an impressive array of services to its customers. The company has made establishing an account a breeze by enabling clients to complete the new account application through their web browser, ensuring easy client account access. Clients can avail of Kingdom Trust’s asset custody services, which involve holding and safeguarding assets, such as bitcoin, within retirement accounts. Furthermore, Kingdom Trust facilitates the holding of a broad spectrum of alternative assets and traditional investments through Self-Directed IRAs and other tax-advantaged accounts.
Additionally, it offers supplementary services, including facilitating investments in precious metals and accepting investments in cryptocurrencies such as Zcash and Stellar Lumens.
Account Types and Investment Options
When it comes to account types, Kingdom Trust offers both traditional IRA and Roth IRA account options, catering to a wide range of investor needs. Both types of accounts provide tax advantages, but they differ in when those tax benefits take effect. Contributions to a Traditional IRA are made using pre-tax dollars, meaning taxes are paid upon withdrawal, while Roth IRA contributions are made using post-tax dollars, enabling tax-free withdrawals during retirement.
But Kingdom Trust doesn’t stop at traditional retirement accounts. The company recognizes that savvy retirement investors often seek alternative investments that can offer potentially higher returns. Whether you’re interested in real estate, private equity, or even digital currencies like Bitcoin, Kingdom Trust serves as a gateway to a diverse array of alternative assets, all within the familiar structure of a retirement account.
Traditional and Roth IRA Accounts
Kingdom Trust’s Traditional and Roth IRA accounts provide investors with tax advantages that can greatly enhance their retirement savings. Contributions to a Traditional IRA are made before taxes, allowing the account to grow tax-deferred until the funds are withdrawn in retirement. On the other hand, contributions to a Roth IRA are made with after-tax dollars, allowing all future earnings and qualified distributions to be tax-free.
The process of opening a Traditional or Roth IRA account with Kingdom Trust is straightforward. Investors simply need to log in to their account and complete the new account application on the company’s website. The company also provides clear instructions on how to convert a traditional IRA to a Roth IRA, ensuring a smooth and efficient transition for those looking to take advantage of the tax benefits offered by Roth IRAs.
In addition to traditional retirement accounts, Kingdom Trust allows its clients to invest in a wide array of alternative investments. The company’s platform provides access to:
This flexibility allows investors to diversify their portfolios and potentially achieve higher returns than through traditional investments alone.
Kingdom Trust’s commitment to digital asset security is evident in its support for cryptocurrency investments. The company enables clients to hold digital assets in secured digital wallets provided by reputable blockchain security providers. It also provides qualified custody for digital asset investments, ensuring the highest level of security for its clients.
Fee Structure and Pricing
A thorough understanding of the fee structure is vital while selecting an IRA custodian. Kingdom Trust prides itself on transparency, ensuring that clients are aware of all costs associated with their accounts. The company does not impose specific account maintenance fees. However, if you have digital assets in the trust within your IRA, there is a monthly cost of $13.33 or an annual cost of $160.
In addition to account maintenance fees, Kingdom Trust also has transaction and storage fees. Here are the details:
The company charges a fee of $40.00 for the first purchase of gold and silver talents.
There is a separate wire fee of $35.00 for transaction processing.
Storage fees for physical assets begin at $100 per year.
Specific fees vary based on the type and value of the physical assets held in the account.
Account Maintenance Fees
Kingdom Trust’s account maintenance fees vary depending on the type of account and investment. Most Self-Directed IRA, Solo 401(k), and other custodial account holders are on the Standard Fee Schedule, which determines the annual account maintenance fee. The nature of the investment can also influence the fee, with supplementary charges for direct real estate investments.
Account maintenance fees are billed annually, providing clients with a clear expectation of their costs for the year. This transparency helps clients budget effectively for their retirement investments and ensures there are no hidden costs.
Transaction and Storage Fees
In addition to account maintenance fees, Kingdom Trust also imposes transaction and storage fees, which vary depending on the type of asset. The company charges a flat rate of $40 per transaction request, with potential additional fees of $10 per asset.
Storage fees for physical assets, such as precious metals, begin at $100 annually, with additional charges based on the value of the assets stored. For investors interested in digital assets, Kingdom Trust offers secure digital wallets with a monthly or annual expense for maintenance. These fees ensure the safe and secure storage of your assets and are competitively priced compared to industry averages.
Customer Support and Service
Kingdom Trust acknowledges the pivotal role of client support in any financial service. The company provides several avenues for clients to reach out to their customer support team, including a direct line, support website, and even live chat for real-time assistance.
In addition to its multi-channel support, Kingdom Trust also takes client education seriously. The company maintains a comprehensive self-service resource library featuring:
Knowledge base articles
These resources empower clients with the information they need to effectively manage their self-directed IRAs, with the assistance of an individual investment advisor.
Customer Service Team
Kingdom Trust’s customer service team is available during business hours from 8 am to 5 pm CT to assist clients with any inquiries or concerns. They provide guidance on account setup, asset management, and other services, ensuring that clients have all the support they need to successfully manage their retirement investments.
Furthermore, Kingdom Trust’s customer service extends to investment advisors, advisory firms, and fund managers. The company provides support to these professionals in scaling their business through custody services for alternative assets, demonstrating their commitment to building strong relationships with all their clients.
Online Resources and Client Education
Beyond its customer service team, Kingdom Trust also offers a wealth of online resources to assist and educate its clients. The company provides a comprehensive self-service resource library, including:
Knowledge base articles
In addition to these resources, Kingdom Trust also offers a range of educational materials, including eBooks, videos, and webinars that cover topics such as alternative asset investing, real estate, precious metals, and IRAs. These resources, combined with webinars and workshops designed to educate clients on retirement planning, demonstrate Kingdom Trust’s commitment to empowering clients with information to make informed investment decisions.
Security and Asset Protection
In retirement savings, the significance of asset protection and security cannot be overstated. That’s why Kingdom Trust has implemented state-of-the-art technology to ensure the security of personal information and address the security concerns of digital asset investors.
For digital assets, Kingdom Trust utilizes secure digital wallets provided by reputable blockchain security providers, ensuring the highest level of security for these investments. For clients interested in precious metals, the company offers secure storage options, ensuring that your valuable assets are safe and protected.
Digital Asset Security
Kingdom Trust has made digital asset security one of its priorities. The company partners with Kraken, a reputable blockchain security provider, to ensure that digital assets are held securely. These measures include utilizing multi-authentication cold storage for wallets and mandating whitelisted addresses.
Furthermore, Kingdom Trust offers the following features and benefits to its clients:
24/7 account access, enabling clients to monitor their holdings at any time
Commitment to transparency and security, with strong digital asset security measures
Positive feedback from clients, with many reviews on platforms like G2 noting Kingdom Trust’s security measures
Precious Metal Storage Options
For clients interested in investing in precious metals, Kingdom Trust offers secure storage options. The company partners with Delaware Depository, a facility that provides a secure and insured storage environment for its clients’ assets. This partnership ensures that your precious metals are held securely and protected from potential risks.
Storing precious metals with Kingdom Trust incurs a $75 annual fee, a $40 transaction fee, and variable storage fees based on the Investment Direction for Precious Metals form. The company enables investment in IRS-permitted precious metals including gold, silver, palladium, and platinum, whether in the form of bullion bars or coins.
Comparing Kingdom Trust to Competitors
Although Kingdom Trust provides a plethora of services and benefits, a comparative analysis with its competitors offers a holistic perspective. The company stands out for:
Being the first regulated financial institution to provide qualified custody for digital asset investments
Offering highly secure custody services
Providing tax-advantaged investing options
Catering to experienced investors
However, Kingdom Trust also has certain drawbacks, including:
A $40 fee per transaction
Variable fees for storing precious metals, which may be higher than those of some rival firms
The perception of irrevocability and potential loss of control over assets associated with trusts, which may be a cause for concern for certain clients.
Pros and Cons of Kingdom Trust
Kingdom Trust offers a range of benefits for its clients, including:
Investment flexibility provided by the company
A wide array of investment options, giving investors increased choices and opportunities for diversification
Facilitation of self-directed accounts, granting investment freedom and flexibility
However, it’s not all pros. The company has faced some criticisms, particularly for its fee structure. Kingdom Trust charges a $40 per transaction fee and sliding scale fees for precious metals storage, which can add up for investors with frequent transactions or large holdings in precious metals. Additionally, some clients have reported issues with customer service and communication.
When compared to other self-directed IRA providers like iTrustCapital, Alto IRA, and Rocket Dollar, Kingdom Trust holds its own. The company offers a broader range of assets for investment, including real estate, and a wider selection of IRAs compared to iTrustCapital. However, iTrustCapital provides lower minimum investments and competitive transaction fees, which may be more appealing to some investors.
Rocket Dollar, on the other hand, offers distinctive investment options such as startups/private equity and land, which are not available at Kingdom Trust. Yet, Kingdom Trust outshines with its extensive range of investment options and commitment to digital asset security.
Client Reviews and Testimonials
Gaining insights into the customer experience at Kingdom Trust necessitates an examination of client reviews and testimonials. According to both the Better Business Bureau and independent review websites, feedback from clients often expresses dissatisfaction, particularly highlighting inadequate communication and subpar customer service.
However, it’s not all negative. Many clients commend Kingdom Trust for its transparency and dedication to providing a wide range of investment options. Yet, the criticisms regarding customer service and communication underline areas where the company could improve.
Better Business Bureau Rating
Kingdom Trust has been accredited by the Better Business Bureau since 2016 and maintains an A+ rating. This rating signifies that the BBB has confidence in Kingdom Trust to interact effectively with its customers. However, it’s important to note that BBB ratings do not guarantee the reliability or performance of a business.
The BBB rating for a company like Kingdom Trust is determined based on a variety of factors, including:
The length of time the business has been operating
Its marketplace behavior, including how the business responds to consumer complaints
Independent Review Websites
Looking at independent review websites such as:
provides additional insights into the experiences of Kingdom Trust clients. These reviews vary, with some customers commending their transparency and security, while others have expressed discontent with customer service.
Common complaints include inadequate customer service, extended processing times, and a lack of transparency regarding crucial information. Despite these criticisms, many clients appreciate Kingdom Trust’s commitment to providing a wide range of investment options and its emphasis on security.
In summary, Kingdom Trust provides a robust platform for self-directed IRA investments, offering a wide array of both traditional and alternative assets. Their commitment to security, digital asset support, and a range of account types make them a strong contender for individuals looking for more control over their retirement investments. However, potential clients should take into account the company’s fee structure and the reported customer service issues. As with any financial decision, it’s essential to do thorough research and consider personal investment goals before choosing a retirement account custodian.
Frequently Asked Questions
Who regulates Kingdom Trust?
Kingdom Trust is regulated by the South Dakota Division of Banking.
What is choice by Kingdom Trust?
Choice by Kingdom Trust is an independent qualified custodian, regulated by the South Dakota Division of Banking, and specializes in unique custody solutions for individual investors.
Where is Kingdom Trust based?
Kingdom Trust is based in the state of South Dakota and is registered and regulated there. It does not provide, promote, or endorse investment products.
How do I contact Kingdom Trust?
To contact Kingdom Trust for assistance with account opening and funding, please call their Client Services at 888.753.6972. Once your account is ready, you can begin self-directing your retirement.
What types of accounts does Kingdom Trust offer?
Kingdom Trust offers both traditional IRA and Roth IRA account options for its clients. Choose the type that best fits your financial goals.