Equity Trust Company Review: Self-Directed IRA Custodian

Updated: August 4, 2026

OPRS does not receive affiliate compensation from Equity Trust. This review cites primary sources (Equity Trust Company disclosures, South Dakota Division of Banking, SEC EDGAR, IRS publications) and is intended as independent editorial coverage. Fees, ratings, and asset totals were verified live at the sources listed at the bottom of the page on the Updated date above.

Equity Trust is one of the largest self-directed IRA custodians in the United States and a common back-office choice for gold IRA dealers. This review looks at what the firm actually is, how it is regulated, which retirement accounts it holds, one older SEC enforcement matter that still matters for due diligence, and where readers should look next.

Our verdict on Equity Trust as a self-directed custodian

What Equity Trust actually is

Equity Trust Company is a directed custodian, not a bank and not a broker. It safeguards retirement assets, files the paperwork the IRS requires from an account custodian, and executes buy and sell instructions on your written direction. It does not give investment, tax, or legal advice, and it does not vet the merit of the assets you ask it to hold.

The predecessor business was founded by the Desich family in 1974 in the Cleveland area. The Internal Revenue Service approved the firm as a non-bank IRA custodian in 1983. Today the parent group is Equity Trust Holdings, with Equity Trust Company as the operating custodian. The company remains privately owned by the Desich family per its own About page.

Reported scale as of June 30, 2026: roughly $73 billion in retirement assets under custody and administration, spread across about 368,000 client accounts in all 50 states. Headquarters address is 1 Equity Way, Westlake OH 44145. The main phone number is 888-925-1578.

How Equity Trust is regulated

Two regulators matter here. First, Equity Trust Company is a state-chartered non-depository trust company under the South Dakota Division of Banking. That is the entity that examines the firm as a trust company and lists it on the state Division of Banking roster of state-chartered trust companies. Second, the IRS approves non-bank IRA custodians under 26 CFR 1.408-2(e) and reviews them periodically for continued eligibility.

What Equity Trust is not: it is not a national bank, so the Office of the Comptroller of the Currency is not its primary regulator. Its cash sweeps are not covered by FDIC insurance in the same way retail bank deposits are. Its brokerage affiliate, ETC Brokerage Services LLC, is a FINRA-member broker-dealer and SIPC member, but SIPC covers cash and securities held at the broker in the event of broker failure, not investment losses.

Practical implication: the state trust charter and IRS custodian approval speak to the firm’s operational fitness as a record-keeper. They do not certify that the alternative assets a client asks the custodian to hold are legitimate, priced fairly, or liquid.

Accounts and asset types Equity Trust holds

Equity Trust holds a broad set of tax-advantaged account types. For 2026 contribution limits and eligibility rules, always cross-check IRS Publication 590-A before opening any IRA account, since the Cost of Living Adjustments change annually.

Traditional and Roth IRA

Traditional IRA contributions are pre-tax and grow tax-deferred until qualified distribution. Roth IRA contributions are post-tax and qualified withdrawals are tax-free. Contribution limits, income phase-outs, and required minimum distribution rules are set annually by the IRS in Publication 590-A and 590-B. Do not rely on year-old numbers.

Solo 401(k) and SEP IRA

The Solo 401(k) is a plan for self-employed individuals with no full-time employees other than a spouse. It combines an employee elective deferral with an employer profit-sharing contribution, giving a much higher total annual contribution ceiling than a Traditional IRA. The SEP IRA is a simpler plan often used by small business owners. Contribution ceilings for both are indexed annually.

SIMPLE IRA, HSA, and Coverdell ESA

SIMPLE IRAs apply to small employers with 100 or fewer employees. Health Savings Accounts are triple-tax-advantaged for those covered by a qualifying high-deductible health plan. Coverdell Education Savings Accounts have a small annual contribution cap and are designed for qualified education expenses. Consult current-year IRS guidance before contributing.

Alternative assets Equity Trust will hold in a self-directed IRA

Common alternative assets held in an Equity Trust SDIRA include IRS-approved gold and silver bullion and coins, real estate, private equity, private lending notes, cryptocurrency, and certain private funds. Prohibited transactions and disqualified-person rules still apply and are the account holder’s responsibility. Read our self-directed IRA setup walk-through before adding alternative assets to a plan.

Which gold IRA dealers work with Equity Trust

Equity Trust is one of the more commonly named custodians in the gold IRA space and typically appears on the paperwork of a large slice of dealers. Named dealer relationships historically include Goldco, American Hartford Gold, Rosland Capital, Orion Metal Exchange, and Oxford Gold Group, among others. Augusta Precious Metals uses Equity Trust as one of its acceptable custodian options as well, though Augusta’s own account paperwork also lists a preferred custodian.

Being on a dealer’s paperwork does not endorse the dealer. Only 3 of the 27+ gold IRA dealers we have reviewed make the current OPRS trusted list. Custodian choice and dealer choice are separate decisions. See our dealer accountability list for the ones we do not recommend to readers.

Fees and how they are structured

Equity Trust uses a published flat fee schedule rather than a percentage of assets under custody. That structure protects account holders from a rising fee burden as an account grows in value. The trade-off is that a small SDIRA with low activity may pay proportionally more than at a smaller SDIRA custodian.

Typical charged categories include a one-time account setup fee, an annual account maintenance fee, a per-asset holding fee for certain alternative assets, transaction fees for buys and sells, and optional expedited wire fees. Precious metals storage is billed separately by the chosen IRS-approved depository, not by Equity Trust itself. Always request the current fee schedule in writing from Equity Trust before opening the account, and confirm every fee that will apply given your specific holdings.

Our custodian selection framework shows how to weigh flat versus asset-based fee models against expected account size and turnover.

Risks and past regulatory record you should know

Directed-custodian passivity is the recurring theme in complaints and enforcement matters across the SDIRA industry. Equity Trust follows account-holder instructions on assets the account holder has selected. It does not diligence the assets. If a promoter pitches a fraudulent private investment and the client instructs Equity Trust to hold it, the custodian is not the fraud detector.

The most-cited historical enforcement matter is a 2015 SEC administrative proceeding against Equity Trust Company (Securities Act Release No. 33-9701, File No. 3-16462, filed April 8, 2015). The order concerned Equity Trust’s handling of two outside promoters whose offerings were later found fraudulent.

The initial decision by an SEC administrative law judge in February 2018 dismissed the charges against Equity Trust. The SEC opinion process closed the matter without a finding of liability against the custodian. Reasonable readers should still review the docket themselves as part of due diligence.

Beyond that specific matter, general SDIRA risks apply. Alternative assets can be illiquid. Real estate held inside an IRA is subject to prohibited transaction rules that are easy to break. Cash and securities held via ETC Brokerage Services are SIPC-covered against broker failure, but not against market losses. Read what a custodian is and is not before choosing one.

Customer support and account access

Equity Trust runs a client portal called myEquity for account access, statements, contribution and distribution requests, and transaction submissions. Phone support runs from the Westlake headquarters during business hours Eastern time. The main published number is 888-925-1578 and the sales line is 855-233-4382. Written correspondence can go to 1 Equity Way, Westlake OH 44145.

Response-time quality varies by account complexity. Real estate transactions and private-fund subscriptions often take longer to process than a standard IRA cash contribution. Set expectations accordingly and keep written records of every instruction.

Bottom line and where to look next

Equity Trust is a large, established, IRS-approved directed custodian with a state trust charter and a flat fee schedule. It is a reasonable option for a self-directed IRA that will hold real estate, private equity, precious metals, or private lending notes. It is not a substitute for the investor’s own due diligence on the underlying assets, and it is not the right first stop for readers who are still choosing a gold IRA dealer.

If you are opening a precious metals IRA, work in this order: pick a dealer using our published criteria, then confirm which custodians that dealer works with, then read the custodian’s current fee schedule and account agreement before signing. Our custodian selection framework and dealer accountability list are the two starting points we point readers to.

Is Equity Trust a bank?

No. Equity Trust Company is a non-depository state-chartered trust company regulated by the South Dakota Division of Banking. It is IRS-approved as a non-bank IRA custodian. It does not offer checking or savings deposit accounts and it is not FDIC-insured in the way a retail bank is.

Is my Equity Trust IRA insured against losses?

No. Investment losses are borne by the account holder. Cash and securities held through the affiliated ETC Brokerage Services are SIPC-covered up to statutory limits against the failure of the broker, but SIPC does not cover market losses. Alternative assets held in the custodial account are not covered by SIPC or FDIC.

What is the SEC 2015 case about Equity Trust?

The SEC filed an administrative proceeding in April 2015 (Release 33-9701, File 3-16462) concerning Equity Trust’s handling of two outside promoters whose offerings were later found fraudulent. An SEC administrative law judge issued an initial decision in February 2018 dismissing the charges against Equity Trust. The case is worth reading firsthand as part of due diligence, along with any newer SEC or state filings.

Does Equity Trust give investment advice?

No. As a directed custodian it is legally prohibited from giving investment, tax, or legal advice on the assets it holds for you. It executes your written instructions and files required tax reports. Consult a licensed independent advisor for advice, and confirm your custodian is only handling the custody function.

Which gold IRA companies work with Equity Trust?

Historical dealer relationships include Goldco, American Hartford Gold, Rosland Capital, Orion Metal Exchange, Oxford Gold Group, and others, along with Augusta Precious Metals as one of its acceptable custodian options. Dealer paperwork sometimes lists a preferred custodian that is not Equity Trust. Always confirm the custodian identity on the account opening documents before signing.

What are Equity Trust’s fees?

Equity Trust uses a flat fee schedule that includes a setup fee, annual maintenance, per-asset holding charges for certain alternative assets, and transaction fees. Storage of precious metals is billed separately by the IRS-approved depository. Request the current fee schedule in writing from Equity Trust and confirm every fee that will apply based on the assets you intend to hold. Do not rely on numbers quoted in older reviews.

Sources cited