GoldStar Trust Company Review

By Altay Gursel | October 8, 2020

What To Know About GoldStar Trust

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Company Background

GoldStar Trust established is a pioneer company in offering professional services such as self-directed IRA custodian, trustee, and escrow/paying agent.

It was started as a Colonial Trust Company, and introduced in Phoenix, Arizona, on 19 August 1989. Colonial Trust company was bought by Happy State Bank of Amarillo, Texas, in 2004 and became GoldStar Trust Company. 

In 2006, GoldStar Trust company bought American Church Trust Company in Houston, TX, and subsequently moved all operations to Canyon, TX. Ever since GoldStar has experienced massive growth due to robust executive leadership and solid economic foresight. 

GoldStar Trust company is bolstered by the financial strength and confidence of the Texas-based Happy State Bank, established in 1908.

They have been delivering solid retirement solutions for more than 30 years that assist investors across the country to diversify their IRA assets with new investments into common stocks, shares, and mutual funds.

GoldStar Trust Company offers customized retirement strategies and alternative investments that allow investors to strengthen their IRA portfolios with precious materials and other asset classes. It is also a reliable partner, acting as paying agent for church bond and municipal bond issuers in 38 states.

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According to its company website, GoldStar has $3+ billion assets under its management with more than 37,500 self-directed IRAs. The company acts as a Trust branch of Happy State Bank.

GoldStar Trust Company is widely regarded as both an IRA custodian and as a disbursing agent for investor payments on the Structured Settlements market. GoldStar Trust offers unparalleled customer support from ACH processing to online access.

Management Team

  • John Johnson (Senior Vice President – Business Development)
  • Matt Peakes (Vice President – Business Development)
  • Dave Schnierle (Senior Vice President – Business Development)

Contact Details

Address: 1401 4th Avenue Canyon, TX 79015
Phone: 800-486-6888
Fax: (806) 655-2490
Business Hours: 
Monday – Thursday: 7 am – 5 pm CST
Friday: 7 am – 4 pm CST
Goldstar IRA Linkedin Profile 

Services

Similar to most other IRA (Individual Retirement Account) companies, GoldStar provides a wide variety of investment options that are also provided by several other businesses. 

These spectrum from self-directed IRAs, Precious Metals IRAs, Offshore Investments and even Church Bond Trustee. The level of diversification empowers investors to partake in alternative investments, alongside precious metals.

Below are the list of services mentioned on their company website.

  • Self-directed IRAs
  • Church Bonds
  • Crowdfunding
  • Non-US Bank IRAs
  • Precious Metals
  • Privately Offered Investments
  • Publicly Traded Securities
  • Real Estate IRAs
  • REITS

Below image shows available account types available at GoldStar Trust

Available account types available at GoldStar Trust

List of allowable assets shown as below:

List of Allowable Assets at goldstar trust

Ratings

One point that could be interpreted as unfavorable is that as a customer, you and your precious metals dealer are responsible for ensuring that the funds are utilized to buy gold or other precious metals. Then you would also have to deal with a separate company (GoldStar) to hold the metals and get their other services.

You can find their Yelp Review here.

Conclusion

GoldStar is selective with dealers/brokers in its screening phase whom they are working with. Ultimately, it is their responsibility to protect and provide product recommendations to their clients, or inform them if something unusual is happening.

By not selling the precious metals straight to you, you’ll most likely invest more time finding your own dealer. This you may feel like dealing with the same process multiple times.