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Midland Ira Review10 min read

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Are you searching for a dependable and trustworthy self directed IRA custodian company for your alternative assets investments? If so, look no further than Midland Trust Company.

midland trust logo

This is considered one of the legit and responsible companies that provide self directed IRA services; on the other hand, many of you, especially the newbies, ask if this is a legit company. This Midland Trust review will be able to assist you in determining if you must invest in the company or not. So, keep on reading!

Company Overview

Midland Trust Company, popularly called Midland IRA Inc., is a reliable and trustworthy self-directed IRA administrator established in 2003.

The company has been in the business for many years now, and these many years of existence are a testament to how reliable the company is. The company was created to make unparalleled alternative asset investing services for different kinds of clients from all parts of the world.

This company has invested in modern and groundbreaking technology to give clients fast access to their accounts, 24 hours a day, 7 days a week. They also have responsive customer service; your questions and queries will be addressed as soon as possible. Midland Trust Company is located in Sioux Falls, South Dakota, USA.

Midland Trust Management Overview

midland management

The person behind Midland Trust company is Brandon Stith. He is a skilled and well-versed financial services provider with over decades of experience in the industry.

He has a degree in Bachelor of Business in Financial Services, and also he holds a certification as a Certified IRA Services professional or CISP from the ABAICB or American Banking Association’s Institute of Certified Bankers. On the official website, Midland Trust lists three managers, including Scott Foresman, Daniel Hanlon as well as Amanda Bermudez.

Midland IRA Contact Information

The company has a physical address of 135 South LaSalle Street, Suite 2150, Chicago, IL 60603, with a Toll-Free of 877.944.5472. You can also contact their local number at 312.235.0300 or fax them at 312.235.0302.

If you live in a far place or abroad and want to keep in touch with the company, you can send them an email at mail@midlandira.com. To know the legitimacy of this IRA Custodian company, you can visit the Midland Trust official website at www.midlandira.com/.  You can also send mail at PO Box 07520, Fort Myers, FL 33919.

What Are the Products and Services Offered By This Company?

Midland Trust provides you a great chance to expand and branch out your investment portfolio with different alternative assets in a self-directed IRA. The company offers an SDIRA account that takes account of the following:

  • Roth IRAs or Roth IRA
  • SIMPLE IRAs
  • SEP
  • Precious metals IRA
  • Individual 401 (k)
  • Traditional IRA
  • Health Savings Plans or HSAs
  • Education IRA or ESA

With the company’s IRA accounts, you are able to invest in a different array of assets which takes account of the following:

  • Hedge Funds
  • Real Estate
  • Forex
  • Equities
  • Futures
  • Hedge Funds
  • Precious metals IRAs

Midland IRA, in general, specializes in a wide array of alternative investments in self-directed IRAs. They solely act as the capable trustee and custodian of the account and don’t offer any bullion as well as other precious metals products.

How to Operate Midland IRA

Everything is fine. You have already made a self directed IRA account; your next step is to know how much or how small you would want for this company to be a part of every purchase or investment you earn from your Self-Directed IRA.

Midland Trust customer service is always here available if account holder experience issues in their Midland account. or if you want to know more about the company.

They are superb at emailing with forms as well as reminders regarding IRS filing and other documentation that is required all through the year.

Also, they enable up to thirty days for payment on invoices for the annual charge, which is extremely preferred over Midland IRA taking an auto-deduction.

Even if this involves an amount usually below $500, this provides the holder account a time in case a contribution is required to cover this expense.

There are cases where the holder of an account might carry an extremely low or no balance at all.

This takes account of information like losses, gains as well as the existing total value of every investment or transaction you choose to make with the Self-Directed IRA.

Midland Trust is always available if and as required to help with the handling and supervision of your account.

In some instances, you are able to save charges by handling individual transaction charges without straightly involving Midland IRA and by keeping precise records of the deposits, investments as well as withdrawals.

Even if neither Midland IRA nor its rivalries can give any financial or legal advice particular to investments as well as related transactions, they make them readily accessible through phone and email with no extra expense. Phone service is just available during business hours.

Amongst the extra services offered by this company is helping with 1031 Exchange. Like other companies in this field, including the Exeter 1031, Midland Trust just acts as a facilitator, handling the financial aspects for very IRS rules and regulations only.

They aren’t regarded as part of the real exchange transaction, nor does the company provide recommendations and suggestions about the real estate market or items straightly involved.

Who Can Use Midland Trust Company

Midland Trust concentrates on procedures and technology which make investing simple and straightforward for the referral partners as well as individual investors. The company serves the following:

  • Broker-dealers and RIAs
  • Investment sponsors
  • Individual investors
  • Trading experts and professionals
  • Financial planners and advisors
  • Asset and fund sponsors
  • Professional service providers
  • 401(k) Plans

Why Choose Midland Trust

There are a lot of reasons why you need to choose Midland Trust over other IRA custodian companies out there. Some of these reasons are as follows:

Responsive

The company is responsive to its clients, industry, and each other. The company continuously evolves, so they are not the same company from year to year.

The procedures change every now and then to meet the changing needs of the industry.

The company treats its coworkers and clients with expediency and respect and looks forward to the same in return.

Honest

The company treats each worker, prospect, individual client as well as the vendor with honesty and integrity.

They strive for transparency in the organization to encourage teamwork.

They don’t sacrifice integrity for a type or number of accounts. The company assumes the best in others as well as stresses the good in all cases.

Engaged

They provide ideas to address issues, learn from mistakes and search for ways to improve. They look forward to workers and seek those who aren’t afraid of hard work.

They follow in on their dedications and show appreciation for their clients and each other too. The company provides assistance each time possible.

Low Fees But Superb and Exceptional Service

If you deal or work with the company, rest easy that you’re getting superb value. The dedication and commitment are to give the best and most superb service at the best possible price. They have flat and upfront rates; therefore, worry no more about hidden charges.

You can pick from a value or fee-based schedule; it depends on what is best for you. A lot of clients give out between $225 and $325 a year for the services offered based on the activity of the account. The charges are easy and simple to comprehend.

If you have queries about charges or are not sure how the company stacks up against other IRA custodian companies, don’t hesitate to call the customer hotline number.

One of the friendly and dedicated staff will be willing to work with you to know a fee schedule most helpful for the accounting scenario.

Features of Midland Trust

Here are some of the best features of this company and a factor that makes it apart from the rest.

Alternate Source of Funds: Customer retirement accounts give another source of funds with which to invest.

Source of Capital: Unlock new ways to increase capital. The company is a strategic partner who makes the whole process simple for investment sponsors as well as their clients.

Committed Service Team: The company provides a dedicated customer service team for each partner and will assist you and your customers in each step of the process.

Onepath: This is a personalized, simple as well as a turnkey solution that enables traders and investors to complete the requirements on investment with ease.

How to Open an Account with Midland Trust?

The process of creating a self-directed account with this company is simple and easy and only takes a few minutes. All you have to do is to follow the steps mentioned below:

Create an Account

You are needed to first choose the kind of account you would want to open. If you have already decided, you can go on to make an account by filling out a form online.

On the other hand, for HAS, ESA as well as 401k accounts, it is highly advisable to contact the company to have them make the account on your behalf.

Funding the Account

The next step is funding the account. This needs you to fund the newly created account. Funding options take account of transfer, contribution, and IRA rollover.

Investing

This is the third and last step of the process. This takes account of making the actual investment. One can pick from the different alternative assets accepted by the company.

Should I Invest with this Company?

In spite of the long background as well as many choices of IRA accounts, Midland Trust reviews on third party review sites are lacking. Usually, people recommend businesses that have the best and highest ratings on a platform like BBB, BCA, Trustpilot as well as Trustlink.

Is Midland Trust a Scam?

This company has been in the business for many years now, handling over three billion client assets in the process. So, it is safe to say that this is not a scam but rather a legit self-directed IRA custodian.

In fact, based on many Midland Trust reviews, this is one of the most trusted and most sought-after IRA custodian companies at this point.

Pros and Cons

This Midland Trust review will not be completed without knowing the pros and cons of this company. So, let’s start with the pros:

Pros

Educational material provides this business with a customer-centric appeal.

They offer both flat and sliding fees every year and charge options

The company focuses on professional and novice level investors

Best online standing of any Gold IRA company; A+ rating with the better Business Bureau, and received AAA rating with the BCA or Business Consumer Alliance. The company also receives 5-star ratings on Yelp, Google, Trustlinkorg as well as The Yellow Pages.

Investors are able to invest as low as $5,000, to begin with

The company offers an extensive, industry-leading investor information kit that can be obtained by anyone interested (this kit can also be accessed by filling in the online form).

Provides offshore storage in Singapore via Brinks, which might be the safest location to store gold in an IRA.

 Cons

The company doesn’t provide as many investment choices and types compared to other bigger and larger rivalries.

Conclusion

Midland IRA InterviewAfter reading this Midland Trust review, it is safe to say that this company is reliable, legit, and not a scam. This self-directed IRA company is located in Sioux Falls, SD. The company was put up in the year 2003 and has managed to give superb services since then.

Having many choices of self-directed IRA, Midland Trust provides you with a remarkable investment opportunity for traders and investors out there.

On the other hand, the company isn’t without flaws or blemish because they have a few cons or flaws. For instance, the company lacks reviews on most 3rd party review sites, which take account of BBB, Yelp, Trustlink as well as Trustpilot.

About 

Edwin Cannon has spent his entire career in the financial industry and specializes in alternative investments and surviving marketing turbulence. He started My Retirement Paycheck to help educate consumers about retirement investment options that aren't typically introduced by advisors.