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Our clients use Madison Trust to invest their retirement funds with us. They often have confusing questions or need lots of help. Amanda P has been an invaluable asset in advising our customers, coordinating rollovers and seeing that the funds and paperwork get to where they belong. she accomplishes all with a positive and upbeat attitude and we appreciate it.
Beware of Madison Trust Company! Their deceptive and manipulative approach to fees will hit you with unexpected charges for any and every transaction (there is nothing they do - that other Trusts do in the course of business that they won't charge you a fee). They lure you in with promises they don't keep and hold your money hostage. Their extensive list of hidden fees adds up quickly, leaving you frustrated and financially drained. Avoid the frustration and find a more ethical company to work with. Do your research and ask for a clear explanation of all fees upfront. Protect your hard-earned money by staying away from Madison Trust Company.
Beware of Madison Trust Company! Their deceptive and manipulative approach to fees will hit you with unexpected charges for any and every transaction (there is nothing they do - that other Trusts do in the course of business that they won't charge you a fee). They lure you in with promises they don't keep and hold your money hostage. Their extensive list of hidden fees adds up quickly, leaving you frustrated and financially drained. Avoid the frustration and find a more ethical company to work with. Do your research and ask for a clear explanation of all fees upfront. Protect your hard-earned money by staying away from Madison Trust Company.
I wanted to move some limited partnerships from PIMCO to Madison. It took a year! Untrained employees sent me the wrong forms repeatedly and then used that as an excuse. I could not access cash in these accounts because I was not sure where they were in the transfer process.
Also they have no idea how to handle paying the IRS for UBIT in an IRA or a Roth. They were late in getting me the forms, and they do not know how to EFTPS system.
Tip for consumers:
I would not try to transfer assets.
Also if you have UBIT they cannot handle it.
Products used:
IRA and Roth Accounts
There is a FEE for everything (and they don't tell you this upfront) there is a quarterly fee (which increases by $5.00 almost every quarter, there is a $50 fee to pay the fees, there is a $50 fee to mail your investment check, there is another fee for payments. Their program sounds good initially, but unless your IRA has tons and tons of cash... the fees will kill you.
I believe Madison Trust Company are one of those platforms who hide behind the cloak of managing your account while in the actual sense, they are wrecking your portfolio. They are a dubious platform. All my initial capital of $10k gone despite the fact that they fronted as well seasoned professionals in trading, however the mishandling of my trading account by the assigned account manager opened my eyes; but he also offered to help retrieve my account but the punitive bonuses attached made that impossible. For every $1000 dollar they offer to salvage your account, but with ridiculous conditions attached, like 30% of the former trade volume. I was utterly disappointed and left with close to nothing. Gammarecoup dot tech received my petition and looked into the issue, ensured my recovery hastily. I've had a firsthand experience with this fraudulent Madison trust platform and wouldn't want any other person to fall victim, a stitch in time saves nine. Do not invest with them!
Maria was amazing!
She was very pleasant, very thorough, and very knowledgeable about what I needed today! A rare find in today's world of customer service!
Everytime I call, my questions are answered in a matter seconds and solutions to problems are worked out in under 5 minutes. I have made a lot of clerical errors in the process of setting up my account and the solutions offered by the team are thoughtful, intuitive, and simple. As important, every person to whom I have spoken has been very pleasant and a delight to interact with.
Madison has been excellent at handling and supporting my IRA (both traditional and Roth) needs. I would definitely recommend.
I lent a builder $140,000, from my IRA account, to build at spec house @ 6% interest.
Madison Trust helped me throughout the whole transaction.
I was only getting 2.50% on the money at the other bank.
There some fees charged by Madison Trust Company for their service.
But their service was excellent and well worth the fees they charge.
The staff there is very helpful and informative. I have done two investments through Madison, and contemplating a third. The initialed investment has already cycled through a sale, so I have had a complete end-to-end experience with the Team at Madison.
I would encourage anyone contemplating making a non Traditional IRA investment to understand that, in doing their job as your fiduciary trustee for your IRA, Madison definitely reviews everything thoroughly and may ask questions for clarification to make sure you will not violate the IRA. So, it does take a bit longer to "close" an investment versus if you were doing the same project outside the IRA. But again, the team is very helpful and responsive, and always will let you know where the process stands.
I would highly recommend Madison, and their team.
I needed to check on my account related to the amount of transfer to Madison Trust Company. I talked to a lady that was so very helpful with my account. She also gave me information that I would have asked but did not have to do. The whole process was very easy and pleasant compared to so many others such encounters.
Brittany was excellent in understanding our needs and very promptly figuring out the solution. Excellent customer service.
Brittany Bordeaux was SUPER! I needed much help and she walked me through. Thank you for employing great people.
I found they were always willing to have patience and guide me through my process of joining the company and advising me so whatever I need it for my accounts
I spoke with Alexa who was excellent with me gave great information and deserves a raise since the cost of living in N.Y is high!
Just a quick note: I made a one-time additional contribution to an investment you are handling. In your Deposit Information form, I marked my contribution as Non-IRA Funds. You nicely contacted me and asked me to switch it to a Contribution, which I did. The problem is in the wording of your Deposit Information form. It says "Annual Contribution" which gives the impression it is a regular contribution, which this one was not. I spent time studying the various options in that section of the form, and finally went with Non-IRA Fund because I was sending a one-time check that wasn't coming from my IRA. From your perspective, the terminology in this section may appear crystal clear. However, think of it from a customer point of view, who is busy and doesn't know your lingo. If you are interested in solving this issue, I suggest a simple explanatory sentence in the form, explaining what each one means. For example: Next to "Annual Contribution", you can insert a sentence that says, "Check this if you are making your yearly contribution, or if you are making a one-time contribution with check or cash." Of course, you'd need to wordsmith the sentences to be accurate. But don't lose sight of the simple, universally understandable language. This would make it much easier for average people to fill out your form, and save you time and money in support efforts. Thanks.
Everything went smoothly with the set up of my account. Also, when I requested to do a loan with an individual all went well then too. Thanks for the help and the service. Missy
All of my experiences with Madison Trust Company have been very positive and the personnel have all been courteous and professional. The one time they overlooked a transfer request they more than made up for it by promptly correcting the matter, apologizing and waiving any and all fees associated with the transfer.
As someone in the service industry, I subscribe to the motto that "the customer is always right". Obviously, Madison Trust Company does as well and their actions show it.
I had a very bad experience with another custodian company. The Madison trust folks were professional and helped me each step of the way.
I will highly recommend MTC to other's with the same need
I have been trying to transfer alternative investment shares from Fidelity to Madison. Fidelity was being difficult and I finally decided to sell my shares to an outside firm rather than leave the shares within my IRA. Madison team was great, Fidelity not so much.
The representative understood what I wanted and solved my issue in zero time. Polite, knowledgeable, respectful, civil. Thanks
Madison Trust has been wonderful. If there are any questions they get back to me in a very timely manner.
thank you
I have time to with several people at Madison trust Company and most recently with Ian. Everyone has been extremely helpful, and very informative, and also very patient with all the questions that I have asked. When we are dealing with large amounts of money and in particular retirement income Madison trust company empathizes with how sensitive the customers can be and they handle things with professionalism and grace.
So far things of been great and I fully anticipate they will continue that way.
I engaged Madison Trust company about a year ago as the trustee for my IRA. I transferred funds from a major online brokerage company. The process was intuitive and seamless. Fees are competitive. Subsequently I contacted them two or three times by phone with questions. Staff has been extremely knowledgeable, polite, helpful and thorough in every case. Looks like a good company and a happy I made the switch.
These folks are awesome. They have empathy and patience with folks that have limited knowledge in retirement plans. When they do not know the answer to a complex questions, they just go up the chain and find someone that has the answer on the same phone call.
I am fully satisfied with the customer service! The support team always respond to my requests very quickly. I am sure Madison Trust Company is on its way to grow even bigger if its DNA remains the same.
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Madison Trust Company is a Self-Directed IRA Custodian. Our plans enable retirement investors to invest in alternative assets such as physical real estate, private placements, promissory notes, and more.
With an emphasis on customer satisfaction, Madison Trust is proud to offer a competively priced plan with the best customer support in the industry.
In 2009, Daniel Gleich and Mervyn Klein partnered to create Broad Financial, an IRA LLC Facilitation firm. The company was conceptualized after Daniel underwent the arduous process of creating an IRA LLC on his own, to diversify his father’s retirement portfolio. He sought to share his hard-earned experience with others by providing them with a streamlined Self-Directed IRA solution. Within several years, Broad Financial helped 10,000+ clients achieve financial freedom by diversifying their retirement accounts into privately held investments. They were largely successful due to the attentive and personalized service delivered to their clients. As Broad Financial grew, they brought Brian Finkelstein, an industry veteran with 25 years of global market experience, on board.
Surveying the Self-Directed IRA landscape, Broad Financial’s partners realized the need for an IRA Custodian that matched the superior level of service their clients had come to expect. Problems with existing providers included lengthy processing time frames, sub-par customer service and portfolio-based pricing. Clients complained that it simply took too long for their IRA Custodian to address their needs. When contacting their IRA custodian, it took a long time to reach a live person, and when they did, they didn’t always receive clear answers to their questions.
In 2012 Daniel, Mervyn and Brian began the process of establishing a South Dakota Trust Company, and in January 2014 they received their Trust charter from South Dakota.
They adopted a revolutionary phone policy, where every phone call was handled by a live person. Customers who were accustomed to automated phone prompts, call queues and outsourced labor were consistently amazed at the responsive service. The partner’s realized that their efforts were worthwhile when they received reviews from clients like “No endless phone menus just to be routed to a call center somewhere overseas. Instead, your calls are answered by associates who have great communications skills and who really know their stuff! “
The partners also created a pricing structure that was sensible and clear cut. Accountholders were charged a low, flat-rate fee, regardless of the size of their IRA. Whether a client’s account was worth $50,000 or $500,000, their quarterly fee remained the same.
Five years later, with thousands of clients across all 50 states, and 1.5B+ billion dollars under custody, they are confident that their well-priced and service-based model is the right one. They are proud to have stayed true to their vision of delivering uncompromising customer service and a hassle-free experience to individuals and funds alike.
