SunWest Trust: Financial Escrow
Sunwest Trust, formerly First Financial Escrow, Inc., began in 1987 in Albuquerque, New Mexico as a custodian for local businesses, transactions, and communities. Sunwest Bank purchased the escrow accounts from First Financial Escrow and then rebranded as Sunwest Trust to offer various escrow services.
Escrow companies are in charge of keeping track of your records and overall assets. As a non-professional, small escrow company, you are bound to make serious mistakes if you are a real estate or another type of investment investor who is only tracking them.
And with such minor consequences, your entire balance may topple. Even if your investment is small, an escrow corporation will be the best option for managing everything. Sunwest Trust provides enhanced escrow services and even takes care of the inheritance and subsidiary business.
Sunwest Trust will keep track of every transaction you ever make, including the profit, income, loss, and every detail. Escrow businesses are required whenever two parties are involved, and they are needed when dealing with real estate.
Also read: Hero Bullion Review.
The Sunwest Trust will function as a third party, tracking and ensuring the accuracy of its clients’ documentation and transactions. Using an escrow business like Sunwest Trust is critical to eliminate the chance of fraudulent activity, misunderstanding, neglect, and so forth.
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The company started in 1987 to provide escrow or brokerage services to clients. And through their name, First Financial Escrow began to surface. Later, it was changed to Sunwest Trust, and this is one of the largest real estate brokers located in Mexico.
Location: 10600 Menaul Blvd. NE, Albuquerque, NM.
The company has been one of the local and well-known names and has been there to help general people even with registered trademarks. They added several books in English and Spanish to help people understand the importance of hiring an escrow agent and all the perks of different investment strategies.
Owner Financing is one of the main topics of Sunwest Trust. The company offers live customer service with phone calls. You can also watch different videos to understand their concepts in general, unlike similar companies on the market.
Sunwest Escrow is intended to serve individual clients, employers, financial advisors, and institutions. They offer self-directed IRA services, precious metals IRAs (silver and gold IRA), and i401K services in New Mexico.
They are a mid-sized company with more than 5000 clients and manage almost $1 billion in assets. The Sunwest Trust evolved into a Trust company in 2003.
Also read —> our 7k Metals Review.
Escrow Services Offered by Sunwest Trust Company
The company primarily acts as a brokerage account with tools and solutions for IRA and has been an active custodian in the community for all its service years. They offer some primary escrow services and responsibilities, and we include them below.
Roth IRA
This IRA is funded with post-tax income, but there will be no taxes on your distributions. A Roth IRA is one of the best ways to invest in an IRA.
SEP IRA
This is for entrepreneurs or small business owners, and the contribution limit is higher than for traditional and Roth IRAs.
SIMPLE IRA
Here, the employers will decide on the percentage of how the employees will be involved in an IRA. But the employer has to be eligible for the IRA.
Individual 401(k)
With this IRA, you’ll fund the IRA and can only invest in a bunch of stated assets like equity and mutual funds.
Self-Directed IRAs
With self-directed IRAs, the owner has the right to invest the funds however they see fit. There are many options to choose from, like precious metals and ETFs.
Assets to Invest in by Sunwest Trust Company
The company has managed over a billion dollars of assets in retirement accounts and has been an active source in the market for “other financial services.” They are a private equity-backed financial institution that has been serving clients as such. The assets are:
- Precious metals
- Private placement with Reg A, D, REIT, BDC
- Real estate
- Hedge Funds
- Limited Partnerships
- Checkbook Llc
- Multi-member Llc
- Single Member Llc
- Tax liens
- Secured, unsecured, promissory note
- Private lending
- Private Company Equities
- Public Company Equities
- ETFs
- Livestock and animals
- Real estate in foreign countries
- International market
Fees
The company has included several fees and policies on its website. But they haven’t clarified the details. We can only guess that the accounts will be based on the assets rather than the other terms.
$1-$20,000 = $20
$20,001 and more = 1%
Disbursement fees for additional work equal $3.
Convince Fees =$10
Fees for Assumption = $35
Modification Fees= $25-$150
Payoff = $200
Inactive Account Fees=$20
Transfer to Escrow of Sunwest Trust = $250.00
Partial Release Fees=$35
Research = $50
Document Holding=$200
Wire Fees =$25
Overnight Fees = $30
Reviews of Sunwest Trust Company
Here are some reviews from third-party websites.
Better Business Bureau
The company is accredited by the BBB and has an A+ rating.
Glassdoor
There are 25 reviews on this site, and the total rating is 2.6/5.
Conclusion
Is Sunwest Trust Company LC., is a scam? We’re not sure, and we can’t find any legitimate reviews or ratings of the firm on the web. However, the company claims to be in operation for many years, so if you invest in Sunwest Trust, we recommend doing some research before making a transfer.
The headquarters of the corporation are in Albuquerque, Mexico. It is a customer-oriented firm that has worked with thousands of clients over the years and has spent significant time in the investing market. The organization is built on customer trust and maintains a suitable balance between clients and the companies and services it offers.
About Arthur Karter
Hi, I’m Arthur, and nobody wants to wake up in their 50s like me that they are in serious debt with minimal assets. This wake-up call forced me to reevaluate everything. After going through the school of Hard Knocks, I’m ready to help you by sharing the best retirement choices and how they differ from all the same-old, same-old options that financial advisors sell. These alternatives will help you build and protect your wealth.
