I was a relatively happy Quest Trust Company Gold Family client for over 10 years. Now, my accounts are managed by Inspira Financial Trust. If you've been part of this migration from Quest to Inspira, how is going? I know we all experienced a significant disruption at the initial transition, but it's now been almost 60 days. Have you experienced any improvements in Inspira's service and response times? Is anything getting better? Is there anything they can do to keep you from transferring your assets to another custodian or is it already too late?
I have been Quest client for 6 years and this transition is beyond anything I have ever seen and my career was putting new systems in for companies.
I am trying to get a deal closed and can’t get a response. My borrower is irate as it has been 2 months. I have another deal and worried I won’t be able to execute so perhaps I will do it with my other SDIRA custodian to be sure it will close in a timely manner.
It's always challenging when companies go through transitions like this, especially when it involves something as personal and critical as managing retirement accounts. Service disruptions can understandably lead to frustration.
From my perspective in the self-directed IRA industry, effective communication and responsiveness during transitions are crucial to maintaining client trust. If you're considering other custodians, I recommend focusing on those with a strong reputation for consistent customer service, transparent fees, and ease of account management. It's also a good idea to assess their track record in handling alternative investments and supporting clients through changes.
I’d be interested to hear how Inspira addresses these concerns going forward. Your feedback might also help guide others in similar situations.
I have been Quest client for 6 years and this transition is beyond anything I have ever seen and my career was putting new systems in for companies.
I am trying to get a deal closed and can’t get a response. My borrower is irate as it has been 2 months. I have another deal and worried I won’t be able to execute so perhaps I will do it with my other SDIRA custodian to be sure it will close in a timely manner.
It seems that often when companies acquire large books of business in one shot there are growing pains and unfortunately those are felt at the client level. I would encourage anybody with an SDIRA to consider switching over to a Checkbook IRA for some of the following reasons:
1. Eliminate transaction fees
2. Eliminate the red tape of going through a custodian for all transactions/investments
3. Invest in as long as it takes you to write a check, do a wire transfer, or even an online bill pay
4. All investments and assets are in the name of the special purpose LLC instead of "name of custodian FBO Jim Bob's IRA".
5. In the event of an acquisition your "Checkbook Control" set up would not change. The challenges experienced in the cases mentioned above and elsewhere would be non-existent. Customer service from a support perspective matters of course, but no hang up or delays on investing would take place.
I have been a Quest customer since I started investing back when they were called Entrust. I have tried to be patient with Inspira, but I don't feel comfortable trusting them with my money. There is too much chaos and it doesn't seem to be getting better. Today I couldn't get to the log in page. They had moved it or changed it. I don't know. Everything looked weird. I don't know who these folks are, but it looks to me like they have bitten off more than they can chew.
Has anyone had any positive interactions with Inspira? I am shopping for a new custodian and any recommendations would be most welcome.
I am a borrower from several friends and family who use Quest, now Inspira. I tried to make a payment and kept getting a message that some information was missing, but it wasn't. I called customer service. After 65 minutes on hold with them, over 2 months ago, I got hung up on. They just called me back yesterday to ask if they could fix any issues. LOL
I told them that the issues were cleared up about a month and a half ago, but thanks.
@Aaron Fischer I would find a new custodian. You dont have to keep your money there. You can move it.
BP community helped me find Quest several years ago and no complaints. I was trying to get a distribution from Inspira with no response for weeks. They then handed me a personal agent to walk me through the process. I was clear on the process in general but the Inspira rep assured me her suggestion would be easier.
After following everything and completing the forms requested, a second Inspira employee asked me why I "chose" to do it this way. I clarified I did not choose anything - the Inspira rep walked me down that path. That process failed and had to restart the process that they again walked me through. After reporting they had everything they needed - no action for 2.5 weeks. When I followed up they reported they could not handle it in the second way they walked me through.
I asked for no more phone conversation and only to communicate with me via documented email and with their compliance or legal team included.
Suddenly 2.5 months after my first contact, they finally completed the transaction in the original way I was discussing.
Now that it is complete, I will be moving to a different SDIRA company - if anyone has any good suggestions, let me know. BP did right by me the first time.