Broad FinancialReviews 831

So far, it has been an easy process. Your literature and binder are professionally prepared and easy to understand. Setting up the Trust Checking Account was clearly explained and required not much effort. We had to get someone outside the bank to notarized the trust documents as the bank said they were not allowed to do that, but we found a helpful notary who took care of it. Now, we are getting out of our old 401K and will be transferring or rolling over the assets there into this new one. Your staff were very knowledgable and helpful. Thanks!

According to TDAmeritrade the Broad Financial instructions for opening an account for the trust are not complete. They apparently need the "Trust Plan Document" not just 14 pages of faxed Article 1. However, it's difficult to decide what the 'trust plan document' is - there's no wording on any pages that say these words and that these pages will be needed by TDAmeritrade - or any other institution. The instructions could be clearer.

In the LLC documents which include the Operating Agreement and EIN there's nothing to state that the LLC has been set up with the express provisions of operating as a tax deferred entity.

Other than that, Broad Financial is very responsive to queries and call back promptly with answers to questions.

A partner and I set up our individual Solo 401K Trusts and a sub-LLC to handle real property investing business, and the process is mostly painless. Whenever we encountered problems and needed customer service assistance, the help is prompt helpful. We still have some problems setting bank accounts for the trusts and the LLC, but it seems out of the control of the Broad Financial team. We are mostly satisfied with our experience. -Ed