Complaints
This profile includes complaints for Equity Trust Company's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 133 total complaints in the last 3 years.
- 42 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:09/18/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Unable to transfer from this company the digital assets they hold in my name. Foolishy, they say they will sell my assets and distribute the moneys. This is an asset I DO NOT WISH TO SELL, but to transfer these assets somewhere else, which is A NORMAL EVERYDAY OCCURANCE FOR BROKERAGE FIRMS.
They basically hold you hostage with a false excuse they can't transfer digital assets. THis happens anywhere else MILLIONS OF TIMES PER DAY anywhere else!
Business Response
Date: 10/01/2025
Dear Mr. *******,
We apologize for any frustration you may have experienced.
It is Equity’s policy that digital currency must be
liquidated before it may be transferred into, or out of, an ETC account. This
policy is addressed in Equity’s Digital Currency Risk and Fee Disclosure, which
you received and acknowledged around the time of opening your account.In addition, I understand that an Equity representative,
******, contacted you regarding your concerns about our policy on or about
9/24.
Please let us know if you need additional assistance.Sincerely,
***** ************
Legal Counsel
Equity Trust CompanyInitial Complaint
Date:09/18/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Equity Trust tevrivrd noticr to transfer $*** frim my ** account to my ******** account on 8/25, they lost it. They were untrspinsive to follow up calls from ********. I called and tried to escalate the issue. Transfer documentd wete trsent last week. We still have no transfer. Just lotd of excused for additional signatutes from individual not even involvef in the transer. They are obviously stalling.Business Response
Date: 10/01/2025
Dear Ms. ******,
We apologize for any frustration you may have experienced
related to your transfer request. Although you state that ******** faxed
transfer paperwork to Equity on 8/25, Equity first received transfer paperwork
from ******** on 9/17/2025. The same day, Equity Trust reviewed the paperwork
and determined more information was needed, then attempted to contact ********,
you, and your designated financial planner for the remaining documents. The
following day, 9/18/25, the remaining documentation was received, Equity sent
funds via wire to ******** according to your instructions, and your transfer
request was completed.
Please let us know if you need additional assistance.Sincerely,
***** ************
Legal Counsel
Equity Trust CompanyInitial Complaint
Date:08/20/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Myself and the companies I want to invest my ***** in- have spent months trying to get responses from this company.
And, we just cannot get ahold of people in any consistent form, costing months of potentially invested funds, hourly wages away from work, and loss of investment opportunity.
It takes full days off of work just to get one account transferred in as the employees give you no instructions as to how to fill out forms, once you finally do get a contact to help. I'm concerned about extra fees that are not explained. And feel that this level of service is a huge red flag. I still have one account left yet after weeks to now months of trying- to transfer in to no avail.
In the interim, to be clear - I have lost investment opportunities that have come to fruition already as quite successful during the wait.
The amount of time lost in hourly wages (Im a M.D.) just to get money into the accounts is more than significant, let along the investment opportunities lost.
Prominent investment vehicles who wanted my investment tried to find contacts for me to work with during this months- and failed. Ultimately, leaving the money uninvested for a long period.
I have proof of emails requesting contact to get these transactions done with significant amount of time periods of no response. Even the main transfer of money forms (into Equity Direct) I was directed to send into a help@.... email, and nothing would happen. The accounts I want to invest in are starting to suspect foul play at this company and are encouraging me once its all collated to leave the company and at least seek a return of fees that they charge.Business Response
Date: 09/02/2025
Dear Ms. ****,
We apologize for any frustration you may have experienced. Equity Trust relies on clients to provide all necessary information and signatures before processing client directions.
Regarding fees, all fees are disclosed in Equity Trust’s fee schedule, a copy of which available at: *********************************************************** .
I understand that Equity Trust’s Client Services Team has reached out to assist you with your accounts. Please continue working with them, and let us know if you need additional assistance.Sincerely,
***** ************
Legal Counsel
Equity Trust Company
Initial Complaint
Date:08/10/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I hold a Self-Directed IRA account with Equity Trust Company, ********, OH *****, with a total portfolio value of $591,496.66. My account has been locked for several weeks, preventing me from accessing my funds.
Despite numerous calls and emails to customer service, I am repeatedly told that agents lack the authority to unlock my account and that a supervisor will contact me within 24 hours. This has not happened, and the situation remains unresolved. I have directly contacted the following individuals without success: ****** *******, **** ********, and ****** ********.
Requested Resolution:
1. Immediate restoration of account access so I can access my funds without further delay.
2. A detailed audit trail for the $350,000.00 that is supposed to be in the account, including all related transactions and activity records.Business Response
Date: 08/19/2025
Dear Mr. ********,
We apologize for any frustration you may have experienced. I
can confirm that the freeze on your account has been lifted.
Please let us know if you need additional assistance.Sincerely,
***** ************
Legal Counsel
Equity Trust CompanyInitial Complaint
Date:07/08/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I’ve tried closing my account over nine times in the last year I’ve sent the requested forms at least three times. I never hear back and my account is never closed the wait times to speak to somebody are usually close to an hour and then I get put on hold and nobody ever picks up nowthey’re trying to charge me for an additional charge when they agreed to close my account over a year ago
Now they’re also trying to charge me for a late document fee
I withdraw all my money out over a year ago someone got on the phone and tried to convince me not to transfer my money back tome and I’ve never been able to close my account ever sinceBusiness Response
Date: 07/16/2025
*** **********,
We apologize for any frustration relating to your request to close your account. I understand you spoke with a representative yesterday (7/15), who confirmed your account is now closed.
Please let us know if you need additional assistance.
Sincerely,
***** ************
***** *******
Equity Trust Company
Customer Answer
Date: 07/17/2025
Phone Response taken by BBB staff **. The consumer states that the business has addressed the complaint satisfactorily.Initial Complaint
Date:06/24/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
2025 JUNE 20
I received a bill for whatever they do. attached to this bill is 3 late payment fees for $50.00.
They had my phone number and email address to notify me that payment was do. But they did not send any notification, and they want me to pay for their mistakes. I called them to try to get them to drop the late fees so far they have not.
In have been inContact with my broker since day one. Kept him up to date on my were abouts
They also sent my tax for 3 months late.Business Response
Date: 06/30/2025
*** ********
We apologize for any frustration you may have experienced. I
understand that a service team representative reached out to you and the issue
was resolved to your satisfaction.
**********
***** ************
Legal Counsel
Equity Trust CompanyCustomer Answer
Date: 06/30/2025
Better Business Bureau:
I have reviewed the response provided by the business regarding complaint ID ********, and I find the resolution is satisfactory.
Regards,Initial Complaint
Date:06/18/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have been a customer for many years at ETC in the last 90 days payments to my IRA have been lost in your system. This has now been a total of 8 *** Payment made directly to the assigned direction investment with all the proper information.
The issue is your outsourced customer strive has no clue and your local support less than stellar.
Payment into my 3 direction of investment accounts were as normal until 90 days ago. Now its a brawl with your customer support team and hours on the phone to get the issues corrected.Business Response
Date: 06/30/2025
*** *****,
We apologize for any frustration you may have experienced. I
can confirm that the funds have been deposited to your account and that a team
member has reached out to you to ensure future deposits do not have any issues.
Sincerely,
***** ************
Legal Counsel
Equity Trust CompanyInitial Complaint
Date:05/15/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Our company that owned the asset in equity trust was dissolved in 2019. In 2021 I filled out all of the forms for equity trust to close the account and it was never good enough. They always had a problem with it so they could continue charging their fees all these years. There's no asset in the account even though they say there is. I just want to close my account. I just tried again, and when they were sending me to the third person to talk to the call was disconnected. This is very similar to what happened when I was trying to close the account in 2021. I just want the account closed.Business Response
Date: 05/28/2025
*** *****,
Equity’s Client Service Team reached out on 5/21/25 to assist with your request but was unable to reach you. We will continue to have our CST team reach out. Please contact Equity at your earliest convenience.
Sincerely,
***** ************
Legal Counsel
Equity Trust Company
Customer Answer
Date: 06/17/2025
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
These emails from you in regards to the case copied below were not coming to my inbox. I have still not been taken care of by Equity Trust. They reach out, request more information, and then don't get back to me timely. It is nearly impossible to reach them on the phone. Usually calls get disconnected. I have been corresponding over email with them, but have been passed to three people now, all requesting the same documentation that has already been submitted and approved by previous people. This process is DRAGGING OUT again, just like it did years ago when we tried to shut this account down. At this point, we are working on a devaluation for a piece of equipment that no longer exists, for an entity that has been shut down for years, and they are requesting personal banking information from all six family members to disburse the $0.87 left in this account! They keep dragging this out to claim fees from us each year. We have six family members tied up in this account and every year we are each paying $250 in fees to them. Now, it is going to be $350 each, because of a $100 processing fee to get this shut down. It is extremely ridiculous how they do business and pass you from person to person to avoid getting anything accomplished so that they can keep taking your money. Most recently we were threatened with a collections agency, if these fees were not paid. My wife has been working on getting this account closed down, but we are just getting the run-around.
Regards,
Andrew Sekel
Business Response
Date: 06/24/2025
*** *****,
We apologize for any frustration you may have experienced. I
can confirm that your account is closed as of 6/19/2025.
Sincerely,
***** ************
Legal Counsel
Equity Trust CompanyInitial Complaint
Date:05/06/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
The businesses uses unfair and purposefully deceptive fee tactics. They require that a customer wanting to close their account, give them notice 30 days before year end, otherwise the full year fee is due and they do not prorate the fee, which is paid in advance, so they are being paid for work they have not done. In addition, to close your account, you have to pay $250 per account and $100 per investment held in the trust.Business Response
Date: 05/20/2025
*** ********
We apologize for any confusion regarding fees associated
with your Equity Trust account. Equity
Trust’s fees and policies are disclosed in the Custodial Account Agreement and
Fee Schedule, which you acknowledged and agreed to when you opened your account.
I understand an Equity Trust representative reached out to
you to assist with your account closure request. Please continue working with her but let us
know if you need additional assistance.
Sincerely,
***** ************
Legal Counsel
Equity Trust CompanyCustomer Answer
Date: 05/20/2025
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********* and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
Equity Trust has not released my funds after payment of their exorbitant exit fees. They have been sitting on my funds for 15 days. They have had a sale person spamming me ever since. There is zero chance that I will ever do business with them again.
Regards,
******** *******
Business Response
Date: 06/16/2025
*** ********
We apologize for any inconvenience associated with your
account closure and transfer.
I understand you are in contact with an Equity Trust
representative who is working with you to resolve the transfer issue. Please
continue to work with her but let us know if you need additional assistance.
Sincerely,
***** ************ Legal Counsel
Equity Trust CompanyInitial Complaint
Date:05/05/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
May 4, 2025
Better Business Bureau
Online at www.bbb.org
Subject: Formal Complaint – Mishandling of Precious Metals IRA Disbursement & Failure to Communicate
To Whom It May Concern,
I am filing this formal complaint against Equity Trust Company, LLC, the custodian of my self-directed IRA account, due to its gross mishandling of a physical precious metals disbursement and its unacceptable failure to communicate or resolve the issue in a timely and responsible manner.
Summary of the Incident:
On or about April 10, 2025, I submitted a request to Equity Trust for the disbursement of physical gold and silver from my IRA. The metals were reportedly shipped via ***** using tracking ** ************* However, that shipment has since been reported as lost or undelivered. Despite multiple attempts to obtain meaningful updates or initiate recovery or reimbursement, I have received only vague responses or outright silence.
I was initially instructed to “wait 6 to 8 weeks” for ***** to complete its investigation. Given the substantial value of the assets involved and the fact that these are my personally owned retirement assets — not speculative or discretionary holdings — such a delay is wholly unacceptable.
To make matters worse, Equity Trust has failed to respond to repeated follow-ups via email and phone, offering no confirmation of active investigation, no claim documentation, and no assurance of restitution. I have been given the same wait and we will contact you later response. This level of inaction reflects a troubling disregard for their fiduciary responsibility and the rights of the account holder.
The mishandling of my retirement assets, lack of accountability, and failure to maintain even basic communication standards are unacceptable and demand immediate corrective action. I am requesting that the Better Business Bureau investigate this matter and assist in securing a prompt and appropriate resolution.
Sincerely,
****** *******Business Response
Date: 05/19/2025
Mr. Clausen,
We apologize for any frustration and delay in your precious
metals shipment. As you are now aware, your
metals were damaged in transit when the ***** vehicle carrying the package caught
fire. ***** and the precious metals
depository submitted insurance claims regarding the incident. The metals have been replaced and are now in
transit. According to the tracking number
provided, your metals should be delivered tomorrow, May 20. Please continue working with ******* if you
need assistance.
Sincerely,
***** ************
Legal Counsel
Equity Trust CompanyCustomer Answer
Date: 05/21/2025
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I have reviewed the response provided by the business regarding complaint ID ********* and I find the resolution is satisfactory.
Regards,
****** *******
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