- A+ BBB rating
- 30+ years experience
- 60,000+ clients
- $3.6 billion assets under custody
- No educational materials
- U.S. investors only
GoldStar Trust Company is an experienced self-directed IRA custodian, best for investors who want a diverse offering of alternative assets.
While its fees are competitive, customer service reviews are mixed, and educational resources are limited.
Read this review to determine if GoldStar Trust aligns with your investment goals.
The Verdict for GoldStar Trust Company
I’ve given them a rating of 6.7 out of 10.
GoldStar Trust Company has been in business for more than three decades, offering a diverse range of investment opportunities.
The company provides a diverse fee schedule that is competitive to other custodians but it has mixed customer service reviews and a limited educational library.
Check out what GoldStar Trust has to offer before investing to ensure it aligns with your goals.
| Category | Rating (out of 10) |
|---|---|
| Investment Options | 9 |
| Pricing & Fees | 8 |
| Account Setup & Maintenance | 7 |
| Customer Service & Support | 6 |
| Security & Compliance | 6 |
| Reputation & Reviews | 6 |
| Resources & Tools | 5 |
| Overall Rating | 6.7 |
In this review of GoldStar Trust, I’ve followed GIC’s detailed criteria for evaluating the self-directed IRA custodian.
About GoldStar Trust Company
Founded as Colonial Trust Company in 1989, GoldStar Trust Company is a well-established self-directed IRA custodian.
Headquartered in Canyon, Texas, GoldStar Trust operates as a division of Happy State Bank, one of the largest banks in the Texas Panhandle.
GoldStar manages more than $3.6 billion in assets and is the custodian of more than 60,000 IRA accounts.
GoldStar Trust’s mission is to allow investors to invest in alternative assets like real estate, precious metals, and private equity.
In 2006, GoldStar acquired American Church Trust Company, expanding its retirement service offerings to include church bonds.
The company is run by Jeff Kelley who brings decades of experience in retirement services and corporate growth strategies.
Under his leadership, GoldStar delivers customer-focused services while maintaining a commitment to provide customers with quality, transparency, and competitive rates.
GoldStar Trust maintains an A+ rating with the Better Business Bureau, but is currently unaccredited. It also has a 4.5-star rating on Trustpilot.
Investment Options
GoldStar Trust offers several different types of self-directed accounts to invest in.
This includes:
Within a SDIRA, investors can hold a variety of alternative assets beyond traditional stocks and bonds.
These include:
- Residential and commercial properties
- REITs
- Precious Metals like gold and silver
- Private Equity
- Crowdfunding
- Promissory Notes
- Church Bonds
- Perth Mint Certificates
- Charter School Bonds
GoldStar Trust specializes in church bonds which finances capital development projects.
These assets give investors the opportunity to diversify their retirement savings while adhering to IRS guidelines.
Account holders can decide how active they want to be in managing their account.
Investors can manage their assets passively or work with a financial advisor to help them manage their portfolio.
GoldStar Trust doesn’t have any preferred partners. Investors can select their own investment providers for certain asset classes, like precious metals dealers.
While this gives you greeted flexibility, you are also on the hook to do due diligence to ensure you are working with reputable and IRS-compliant providers.
When your account is opened, you’ll need to complete an Investment Direction Form to authorize GoldStar Trust to add assets to your portfolio.
Pricing & Fees
GoldStar Trust prides itself on fee transparency. It publishes its fee schedule directly on its website.
There is a one-time $50 fee to set up a new SDIRA. After that there is an annual $150 account maintenance fee for regular SDIRA accounts, a $90 maintenance fee for precious metals accounts, and a $75 annual fee for accounts holding church bonds.
GoldStar Trust charges a number of transaction and maintenance fees including:
| Transaction | Fee |
|---|---|
| Security trades | $25 |
| Real Estate | $100 |
| Church bonds (in-kind transfers) | $50 |
| Setup fee | $50 |
| SDIRA maintenance fee | $150/yr |
| Precious metals maintenance fee | $90/yr |
| Church bonds maintenance fee | $75/yr |
For precious metals accounts, GoldStar does not charge a trading fee however separate purchase fees may apply depending on the marketplace you work with.
You can either pay a $100 commingled depository storage fee or $150 per year for segregated storage.
Other fees include a $50 wire fee, a $150 account termination fee, a $75 Roth conversion fee, and a $25 annual paper statement fee.
Compared to other SDIRA providers, GoldStar’s fees are competitive.
Its fee structure varies based on account and asset type, which may make it more or less expensive depending on the assets you wish to invest in.
Account Setup & Maintenance
GoldStar makes the account setup process as simple as possible.
Follow these steps to get started:
- Choose your account type
- Choose how you will fund your account
- Select your investments
You can either rollover funds from an eligible retirement account or you can do an in-kind transfer from an existing IRA provider.
GoldStar manages all the paperwork required to open an account. This includes working with an existing custodian to do an account transfer or facilitating a rollover.
Some companies require you to consent to a verbal liquidation before GoldStar can proceed with a transfer on your behalf.
You may also be required to furnish documentation to verify your identity as part of the account setup process including a driver’s license and your Social Security Number.
The company offers online account management and tracking tools to help you manage your portfolio.
Customer Service & Support
Customers can reach GoldStar Trust customer support by phone at (800)-486-6888 or by email at [email protected].
Customer support is available Monday through Thursday from 7 am to 5 pm CST and Friday from 7 am to 4 pm CST.
GoldStar Trust has mixed reviews when it comes to customer support.
Some customers report support staff as friendly, knowledgeable, and easy to work with while others have reported poor interactions and unreturned calls.
GoldStar Trust does not provide consultations or investment advice.
Security & Compliance
For investors that work with GoldStar Trust to open a precious metals IRA, the company partners with Delaware Depository, IDS, Texas Precious Metals Depository, and AMGL to provide deposit services.
These depositories provide around the clock surveillance to safeguard your precious metals.
GoldStar Trust maintains a modest security policy. It adheres to industry standards to protect investor data and information shared with GoldStar Trust is not sold to third parties.
Insurance is included for precious metals shipped directly to your home or sent to a depository on your behalf.
Cash balances held with GoldStar Trust are FDIC insured up to $250,000, however any IRA or bond investments are not insured.
The company does not disclose its audit or compliance process.
Reputation & Reviews
GoldStar Trust has a 4.5-star rating from 739 reviews on Trustpilot, a 2.2-star rating from 75 reviews on Google, and a 1.67-star rating from six reviews from the Better Business Bureau.
GoldStar Trust and its parent company Happy State Bank have received 21 complaints in the last three years and closed three of them in the last 12 months.
Complaints include excess fees, misfiled paperwork, and gold lost in transit. Customers report GoldStar did a satisfactory job to remedy complaints.
GoldStar Trust maintains a social media account on LinkedIn.
Resources & Tools
The company offers a limited educational section on its website.
It includes blog posts and a FAQ to answer investor questions about self-directed IRAs, but does not include webinars or workshops.
GoldStar Trust does not provide any investment calculators or market information to stay on top of financial news.
There are limited resources to assist you in evaluating your portfolio performance or investment strategy.
GoldStar Trust Alternatives
While GoldStar has been in the industry for a while, there are other SDIRA providers you can consider to hold your alternative investments.
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Our Rating:
4.8
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Our Rating:
4.5
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Our Rating:
4.2
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Setup fee for IRA:
$360-$600
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Setup fee for IRA:
$50
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Setup fee for IRA:
$85
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Rocket Dollar
Rocket Dollar is ideal for investors who want the most flexibility.
It offers self-directed IRAs and solo 401(k)s and investors can choose from a variety of assets, including the option to “bring your own deal.”
Get started with Rocket Dollar today!
Equity Trust Company
Equity Trust is one of the oldest SDIRA custodians out there, bringing decades of experience to investors. It offers a wider range of account types including HSAs.
Equity Trust is ideal for investors who want diverse account options beyond an IRA at an affordable rate.
Alto IRA
Alto IRA is an ideal option for budget-conscious investors who want a more data-driven platform to help manage their portfolio.
With accounts starting at just $10 per month, Alto IRA is good for investors looking to diversify their portfolio without high fees.
Is GoldStar Trust a good company to work with?
GoldStar Trust Company has been in business for decades and offers that expertise to investors.
While it provides a transparent fee schedule on its website, excess hidden fees are an issue for customers.
Compared to other SDIRA providers, it offers limited investment options and does not provide educational information to help you make better investment decisions.
If you’re looking for unique investment opportunities – like investing in church bonds – GoldStar is one of the best in the business.
Determine whether or not the company aligns with your personal investment goals before opening an account.
FAQs
Who owns GoldStar Trust?
GoldStar Trust Company is a subsidiary of Happy State Bank which is owned by Happy Bancshares, Inc. In 2022, Home BancShares, Inc., the parent company of Centennial Bank, acquired Bancshares, Inc.
Does GoldStar Trust have any pending lawsuits or complaints?
In 2022, GoldStar Trust was involved in a civil case with Bank of America regarding an unpaid check.
Does GoldStar Trust Company hold my retirement funds?
Yes, GoldStar Trust is a SDIRA custodian and will hold your retirement funds.
GoldStar Trust Company
GoldStar Trust has been the leader in providing specialized services as a self-directed IRA custodian, trustee and escrow/paying agent.
Product Brand: GoldStar Trust Company
3.4