Equity Trust Review 2026: A Large-Scale SDIRA Custodian With High Fees and a Troubled Service Record

Last verified: 2026-04-12 | Overall rating: 3.0/5

The 30-Second Verdict

Equity Trust is one of the largest self-directed IRA custodians in the U.S., with $81 billion in assets under custody and 354,000 accounts. It supports a wide range of alternative assets and carries an A+ BBB rating. But high tiered fees starting at $350/year for accounts under $50,000, a 2015 SEC enforcement action, and consistently poor customer reviews on independent platforms paint a more complicated picture. It is a functional custodian for experienced SDIRA investors, but smaller accounts will pay dearly for the privilege.

What Is Equity Trust and How Does It Work?

Equity Trust Company is a qualified IRA custodian regulated by the South Dakota Division of Banking. It provides custody for self-directed retirement accounts holding alternative assets -- real estate, precious metals, private equity, and other non-traditional investments. Like all SDIRA custodians, Equity Trust does not provide investment advice or manage your portfolio. You direct the investments; they handle compliance, recordkeeping, and custody.

Who Is Equity Trust Best For?

Equity Trust is best for experienced self-directed IRA investors with account balances above $100,000 who need a well-established custodian with broad alternative asset support. The tiered fee structure punishes smaller accounts. If you have under $50,000, competitors like Alto IRA or Rocket Dollar offer lower annual costs. If you want investment guidance, look elsewhere -- Equity Trust provides custody only.

Fees

Account setup: $50 (online application)
Annual maintenance (under $50K): $350
Annual maintenance ($50K-$99,999): $500
Annual maintenance ($100K-$249,999): $750
Annual maintenance ($250K-$499,999): $1,000
Annual maintenance ($500K-$749,999): $1,500
Annual maintenance ($750K-$999,999): $2,000
Annual maintenance ($1M+): $2,500
Paper statement fee: Applicable
Precious metals storage: Varies
Transaction fees: Vary by asset type

On a hypothetical $50,000 account held for one year: $50 (setup) + $500 (annual maintenance) = $550 minimum in the first year, before any transaction or storage fees. That is 1.1% of the account value in custody fees alone.

Minimum Investment

No stated minimum account balance. However, the $350/year minimum annual fee applies even to small accounts, making balances under $50,000 cost-prohibitive on a percentage basis.

Accreditation Requirements

No accreditation required to open an Equity Trust account. However, some alternative investments available through the platform may have their own accreditation requirements set by the issuer.

Liquidity -- How Do You Get Your Money Out?

Alternative assets held in self-directed IRAs are inherently illiquid. Equity Trust facilitates custody but does not provide liquidity. Distributions may take 8-12 business days to process. Customer complaints frequently cite transfers taking 5+ weeks and difficulty closing accounts.

Historical Returns

Equity Trust does not publish portfolio-level returns. The company highlights individual case studies: one investor reported a 151% return on a renovated estate property; another reported $45,000 profit flipping a house in 14 months. These are cherry-picked examples and not representative of typical outcomes.

Any returns referenced are self-reported and not independently verified.

Regulatory and Legal Structure

Equity Trust is a South Dakota state-regulated trust company, supervised by the South Dakota Division of Banking. It is not directly regulated by the SEC. In 2015, the SEC brought an enforcement action related to fraud by Ephren Taylor and Randy Poulson, finding that Equity Trust had facilitation failures that allowed $5 million+ in fraudulent note investments through self-directed IRAs.

Pros

Largest established SDIRA custodian with $81 billion in assets under custody and 354,000 accounts
Broad alternative asset class support including real estate, precious metals, and private investments
A+ Better Business Bureau rating and BBB accreditation
$50 account setup is a low barrier to entry
South Dakota trust company regulation provides legal framework and audit oversight
Mobile app available for account monitoring and basic transactions

Cons

High annual maintenance fees starting at $350/year even for the smallest accounts
2015 SEC enforcement action for failing to prevent fraud in self-directed IRA investments
Significant customer complaints about processing delays, 5+ week transfers, and 8-12 day distributions
Poor reviews on independent sites (2.0 stars on PissedConsumer) despite strong BBB rating
Mobile app has limited functionality and frequently redirects users to the website
Additional paper statement, transaction, and storage fees increase overall costs

The Bottom Line

Equity Trust has the scale and longevity that many SDIRA custodians lack -- $81 billion in assets and four decades of operation. For investors with six-figure account balances who need a custodian with broad asset support, it gets the job done.

But the fee structure is punishing for smaller accounts, and the 2015 SEC enforcement action is a legitimate concern. The gap between Equity Trust's A+ BBB rating and its 2.0-star PissedConsumer score suggests that while the company resolves formal complaints, day-to-day service quality is inconsistent. Factor in the processing delays reported by multiple customers, and this is a custodian best suited for investors who can absorb the fees and tolerate administrative friction.

If you are considering Equity Trust, confirm processing timelines in writing before initiating transfers.

ModernAlts may receive compensation if you open an account with platforms reviewed on this site. This does not influence our editorial ratings or analysis. Alternative investments involve risk, including possible loss of principal. Past performance is not indicative of future results. Nothing on this site constitutes investment, legal, or tax advice.

Equity Trust Company Review