Madison Trust Company Review

Madison Trust Company is a top-rated self-directed IRA custodian that’s ideal for investors seeking flexibility and diversification in alternative assets.

While its fees are higher than other custodian providers, it offers live support with certified IRA experts.

Continue reading to learn more.

The Verdict for Madison Trust Company

I’ve given them a rating of 8 out of 10.

Madison Trust Company is a respectable SDIRA custodian with a high customer service rating.

While it gives investors the chance to add alternative assets to their portfolio, the fees at Madison Trust are higher than other competitors.

Review Madison Trust’s fee schedule to make sure it aligns with your investing goals.

Category	Rating (out of 10)
Investment Options	9
Pricing & Fees	8
Account Setup & Maintenance	7
Customer Service & Support	9.5
Security & Compliance	7
Reputation & Reviews	9
Resources & Tools	7
Overall Rating	8

In this review of Madison Trust, I’ve followed GIC’s detailed criteria for evaluating the self-directed IRA custodian.

About Madison Trust Company

Madison Trust Company was established in 2014 out of Broad Financial, an IRA LLC facilitation firm founded by Daniel Gleich and Mervyn Klein.

Headquartered in Sioux Falls, SD, Madison Trust serves over 20,000 clients across 50 states and has over $4.8 billion in assets under custody.

Madison Trust’s mission is to provide self-directed IRA services that empower investors to diversify their portfolios by investing in alternative assets including real estate and precious metals.

The company’s leadership team brings decades of experience working in finance and investment management.

Madison Trust prioritizes customer satisfaction to help investors work towards financial freedom.

The company has been accredited by the Better Business Bureau since 2015 and has an A+ rating.

Investment Options

Madison Trust Company offers several types of self-directed IRA accounts including:

• SIMPLE  IRA
• Roth IRA
• IRA Custodian
• SEP IRA
• IRA with Checkbook Control

Once an account is open, you can invest in a variety of alternative assets including:

• Real Estate
• Precious Metals
• Private Placements
• Promissory Notes
• Startups & Small Businesses
• Crowdfunding

Individual assets can be added to your account by submitting an Investment Authorization Form.

Once the purchase is complete, you can monitor your portfolio’s performance in the client portal.

Madison Trust emphasizes investor flexibility and portfolio diversification, allowing you to choose from a variety of assets that adhere to IRS regulations.

Some investments are prohibited within a Madison Trust Company SDIRA, including collectibles and life insurance.

Madison Trust is one of the largest SDIRA custodians available for investors to work with.

The company partners with Broad Financial to provide checkbook services, which includes helping investors set up an IRS-compliant LLC or trust for your IRA.

Pricing & Fees

Madison Trust Company offers transparent pricing with a flat-rate fee structure.

The initial account setup fee is $50 and the minimum cash balance requirement for accounts is $500.

The company charges a quarterly custodial fee of $105 for the first asset and $25 for each additional asset.

Per year that is $420 for the first asset under management and $100 for additional assets.

Madison Trust charges a number of transaction fees including:

Transaction	Fee
Incoming Wire/Instant Transfer	$25
Outgoing Wire	$30
Sale of Asset	$100
Precious Metals Storage	$150/year
Precious Metals Shipping	$100
ACH Disbursement	$10
Cash Disbursement	$25

Other administrative fees include a $25 late fee, a $50 expedited processing fee, and a $150 account termination fee.

Madison Trust’s fee schedule is published directly on the company’s website.

Madison Trust also provides a fee comparison tool to see how the company’s fees rank with other SDIRA providers.

While Madison isn’t the most expensive custodian, it is more expensive than other providers.

Account Setup & Maintenance

Setting up an account with Madison Trust is a simple, straightforward process:

1. Open an account by completing an online application or over the phone
2. Fund your account with a rollover or a cash contribution
3. Submit an Investment Authorization form to provide instructions on the asset you’d like to bring into your account.

You may need to provide identification such as a driver’s license to verify your name and address when opening an account.

You may also need to verify your Social Security Number for tax purposes during the onboarding process.

It takes around 3-4 weeks to open a new account, but that can vary especially if you are rolling over retirement savings from a different provider.

Madison Trust accounts can be funded through rollovers from qualified retirement savings accounts including an existing IRA, a 401(k), or a 403(b).

Once your account is established you can set up access to the client portal.

This will allow you to track your investments, submit purchase requests, and pay invoices related to your account.

Customer Service & Support

Madison Trust Company clients can reach out to customer support by phone at (888) 605-3047 or by email at [email protected].

Customer support is available Monday through Thursday, 9:30 AM–5:30 PM EST, and Friday, 10:00 AM–4:00 PM EST.

All customer support calls are fielded by a live representative. Madison Trust customer service representatives are Certified IRA Service Professionals.

Security & Compliance

Madison Trust Company adheres to strict IRS guidelines and is regulated by the South Dakota Division of Banking.

According to the company’s privacy policy, sensitive data like credit card information is encrypted and Madison Trust does not sell personal information to third parties.

Madison Trust does not disclose insurance coverage for its accounts.

Investors are responsible to do due diligence on any assets held in an SDIRA and the company is not responsible for fraud.

Reputation & Reviews

Madison Trust has more than 1,000 client reviews across the BBB and Google.

It has 4.92 stars on the BBB and 4.8 stars on Google.

Customers note satisfaction with support answering questions and helping clients rollover funds from an existing retirement account.

The company has had no complaints in the last 12 months.

Some customers have expressed frustration with failed investments held with Madison Trust and lost paperwork affecting access to investments.

Madison Trust maintains social media accounts on YouTube, X, Facebook, and LinkedIn.

Resources & Tools

Madison Trust offers extensive resources on its website including blog articles and webinars.

There is also a calculator to compare costs between different SDIRA providers.

Madison Trust doesn’t provide market analysis or tools to help investors stay up to date on market trends that may affect their portfolio’s performance.

Madison Trust Alternatives

While Madison Trust is a top SDIRA custodian, there are other providers to consider.

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

With decades of experience, Equity Trust Company is one of the oldest SDIRA custodians out there. It offers a wider range of account types including HSAs.

There is a $50 setup fee and annual account maintenance fees start at $225, which is significantly lower than Madison Trust.

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. The platform gives you access to over 75 alternative assets and 200 cryptocurrencies.

With accounts starting at just $10 per month, Alto IRA is good for investors looking to diversify their portfolio without high fees.

Is Madison Trust Company legit?

Madison Trust Company is a legitimate and highly regarded SDIRA custodian provider.

With thousands of positive customer reviews and over $4.8 billion in assets under custody, the company has a reputation as a reputable provider.

Check out Madison Trust’s SDIRA options to see if it’s right for you.

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