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This company is extremely difficult to deal with if you ever encounter problems or need answers to complex questions . The two times I had to contact them, they were unable or unwilling to help me. The first time was when I wanted to buy foreign property to invest in. After first claiming this was possible to do, they later recanted and said I couldn't. The second time was when I was traveling abroad and had to urgently respond to the Australian Tax Office about the source of monies wired to me from the US (they were the 401k funds Equity Trust had wired to me). Equity Trust refused to help me while I was overseas for "security reasons." This in spite of the fact that I had told them that I needed their help to avoid being in hot water with the ATO (Australia's version of the IRS). If you need help, you're supposed to write them an email, which they then tell you will take 48 hours to respond to. When you get the response, it's from a generic source, so if you have follow-on questions, forget it--you're back in the 48-hour response cue again. The generic responses are terse and incomplete. If your expectations of a 401k manager are very minimal and what you want to invest in is a very simple proposition, maybe Equity Trust will be adequate for your needs. But if you're like most people who are smart enough to want to manage your own 401k, you may want the ability to exercise more creativity in managing your investments. Equity Trust is unfortunately very cookie-cutter in their approach, and too lightly staffed with knowledgeable professionals to advise you.
I think the other two reviewers were disgruntled. It is possible, I am sure that they had bad experiences, but I have been with them for 6 years and have had nothing but the finest customer service. I have had a few small instances (No big deals) where they didn't close out a note that was repaid, but that is semantics. They let me know when my paperwork has an issue, and always followup in writing on major notices. I recommend ETC to anyone looking to take control of their retirement $.
I have been with TrustETC for many years and they are a very solid company that do what they say they are going to do. I imagine folks only get upset with them because of the fees. The fees matter if you are not using your funds in TrustETC to do what they are supposed to do. The fees are negligible if you use your funds to multiply them. Remember, you become the "account manager" of your own money. So if you do it correctly and your fund earns a lot of money, then who cares about a $400 fee. $400 is fair compared to what other mutual funds would charge! And the whole point of TrustETC is that you control your funds and their destiny. I love it. Highly recommended!
I've been with them for 6 years and it's taking me many months and hundreds of dollars in fees to get away from them. Funding an equity investment takes 6-8 weeks. If you checked the wrong box, they won't tell you. They just won't process your transaction, and they'll wait for you to call and complain before they tell you why it wasn't processed. I needed a one-page document signed, and it's been a month now. Just stuck in the process, no idea who has it on their desk. Each person I speak with seems nice, and tries to be helpful. They blame other paper pushers, processors, etc, for delays and inaction. Just plain old bad customer service.
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