Robert M.'s review of Sterling Trust, A Division of Equity Trust Company

Sterling Trust, A Division of Equity Trust Company

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Complaint Posted 2/17/2012
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Operational Nightmare
I am part of a company that sells shares thru self directed IRA's. We tried to use Sterling Trust for the First time and they were a Nightmare. Their People are incompetent as well as their management. They were suppose to send the Transfer Requests Overnight - but didn't which caused a huge Delay in the processing by other financial firm. We called them for a Week wondering where the money was and they informed us a week later that they made the mistake. It took forever to get anyone who had a clue on what they were doing - they do not know any of the procedures of the other Financial Firms although they do this day in and day out. Total Incompetence on all levels. After we did get Senior Management Involved they escalated - resent the requests overnight - but even after the delays they forgot to ask that the money be wired or overnighted. Even if you have agreed to pay the Fee's they just are not competent enough to handle simple transactions! The money was sent to them thru regular mail??? I am not at all confident that it we will ever see the investment.
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Waco, TX 76702
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