Scott Thomas
Edmond,#2REBUTTAL Owner of company
Sat, March 14, 2009
I will say Sterling Trust has properly explained this situation well. These transactions do take 2-4 weeks to finalize. Sterling Trust had an issue in getting the paperwork faxed to Fidelitrade and Fidelitrade did not ship the order in full. However, this report hardly falls in the category of "Corrupt Companies". There is probably a bit of blame to go to everyone except the customer. I do recall this transaction and we did advise Sterling Trust the shipment was 3 coins short. After several weeks, the final 3 coins did arrive and the transaction was complete. The customer was never shorted any money. We have had a very successful long term relationship with Sterling Trust Company and continue to do business with them on a daily basis. This was one transaction that had a few bumps along the way but was eventually resolved to the satisfaction of the customer. Scott Thomas President & CEO American Precious Metals Exchange, Inc.
Kelli Click, Vp-marketing
Waco,#3UPDATE Employee
Wed, May 28, 2008
In regards to Rip-Off Report #315416 filed by author, "Planto, Texas", I am a current and 18-year employee of Sterling Trust Company and hold a position as Vice President. The report filed by this individual is not altogether accurate and we would like the general public to hear our side of the story. First, the transaction which "Planto" described took place between 4 parties: (1) Planto (the client), (2) Sterling Trust Company (Custodian of Planto's IRA account), (3) FideliTrade (the coin depository firm used by Sterling Trust Co - and it is quite common for firms to use one for storage and safekeeping of precious metal coins, and (4) APMEX (the precious metal brokerage firm which the client selected to sell the coins). Second, these transactions can and often typically take 2-4 weeks to complete due to the instructions, communication and processing required between all parties. In addition, the coins had to be physically shipped from FideliTrade (in Delaware) to APMEX (in Oklahoma) before the coins could be sold. In reviewing all aspects of the timeline for this transaction, there are couple of reasons for the delay in this transaction. One, it took "Planto" 9 days to authorize the payment for the shipping charges incurred by FideliTrade. Two, a mishap with a faxed request from Sterling Trust to FideliTrade (to ship all coins to APMEX), did result in a 12-day delay. Sterling Trust takes full responsibility for this delay and, when we promptly took the action necessary to make sure FideliTrade shipped the additional 3 coins to APMEX to complete the sale. Third, and most important, "Planto" did not suffer any monetary loss whatsoever from this delay. In fact, "Planto" received the same price for the sale of the additional 3 coins as "Planto" received for the initial sale of the 63 coins. Sterling Trust Company strives to provide prompt and accurate service to its clients, and its business has been built largely on referrals - so fulfilling our clients needs is of utmost importance. However, as with any processing, human error will happen, and when it does, Sterling Trust will do whatever it takes to make the transaction right - including making up a monetary loss that has occurred. Sterling Trust Company was founded in 1984 and has a solid reputation as a successful national leader that specializes in the administration of self-directed retirement plans. We currently service over 60,000 accounts for individuals and businesses across the U.S. whose assets exceed $4.5 billion. As a Texas-chartered trust company, Sterling Trust Company is regulated by the Texas Department of Banking. Sterling Trust is a wholly-owned subsidiary of United Western Bancorp (NASDAQ: UWBK). In addition, Sterling Trust Company is a member of the Better Business Bureau and the Greater Waco Chamber of Commerce. The company is actively involved in industry trade associations, invests resources in the success of its employees and proudly supports the local community through its volunteer and fundraising efforts. Inquiries regarding this matter or questions about our company should be directed to: Kelli Click Vice President - Marketing/Product Development Ph: 254-399-5210 Thank you.