Quest Trust Company Transitioning Accounts to Inspira Financial

Quest Trust Company (QTC) has appointed Inspira Financial Trust, LLC (Inspira) as successor custodian of accounts currently held at QTC.

Quincy Long founded QTC over 20 years ago to educate the public and make self-directed IRAs (SDIRAs) available to all investors. During his tenure, he has become a leading authority on SDIRAs, while QTC has serviced over 20,000 accountholders. Quincy has decided that QTC will resign as custodian and that Inspira will be appointed as the successor custodian for SDIRA accountholders as they continue their financial journey.

With Inspira, your IRA experience will be further enhanced through a broad range of services and a more advanced, user-friendly experience, all while maintaining the high standards you have come to expect at QTC. 

Inspira is a leading provider of health, wealth, retirement, and benefits with nearly 8 million accountholders and $62 billion in assets under custody. Self-directed IRAs and alternative assets are a core part of Inspira’s business, providing people ways to invest beyond traditional stocks and bonds, contributing to a diversified investment strategy. 

On Sept. 3, 2024, Inspira will become the custodian of your IRA. For a transition period after this date, QTC will continue providing certain administrative services related to your Inspira IRA, and you will continue to access your account online with no change to your login experience or credentials.

If you have any questions regarding your existing QTC IRA, how to request a transfer or a full distribution of your IRA, or any other questions regarding the transition of your IRA to Inspira, please contact QTC at 855-386-4727, Monday through Friday, 8:30 a.m. to 5:30 p.m. CT.

On behalf of everyone at QTC, we want to thank you for the privilege of serving your self-directed account needs and for your unwavering loyalty. We look forward to discussing the new opportunities this transition will bring and are committed to ensuring a seamless experience. Inspira is excited to welcome you aboard.

Thank you for your continued trust and support.

Your transition questions, answered

These FAQs are designed to address common questions you may have about the transfer of your account to Inspira. For any additional questions or concerns, please contact QTC’s support team at 855-386–4727, Monday through Friday, 8:30 a.m. to 5:30 p.m. CT. We are here to help during this transition.

When will my account transfer to Inspira?

Inspira will become the successor custodian of your account on Tuesday, Sept. 3, 2024, as noted within the resignation letter mailed to each accountholder using the address on file.

Your current experience and same great service will not change for the time being as QTC will continue to service your account during a transition period. We will be sure to communicate any upcoming changes before they occur.

Will the terms and conditions of my account change?

Yes. As part of the transition of your account to Inspira, your custodial agreement with QTC will terminate, and a new custodial agreement with Inspira will govern your account. This new custodial agreement, and important disclosures if applicable, was included in the notice you received regarding the transition and is also available below.

Are there any additional or changed fees associated with this transfer?

There are no additional fees associated with the transfer of your account to Inspira, and your current fee structure will not change at this time.

How will this transfer affect my investments and funds?

There will be no impact on your investments and funds due to this transfer. All existing investments will be maintained as they are currently, with no further action needed on your part.

Assets will not be retitled, but all assets purchased or transferred after the Sept. 3, 2024, transition date will need to be titled in the name of Inspira Financial Trust, LLC as custodian. Download retitling instructions. 

Do I need to take action to ensure my account transfers to Inspira?

No, there are no immediate actions required from you to move your account to Inspira on Sept. 3, 2024. We will take care of everything to make the transfer as seamless as possible. However, if you do not want your account to transfer to Inspira, you must take action by August 27, 2024.

Can I opt out of the transfer of my account to Inspira?

If you do not want your account to transfer to Inspira, you have the right to direct QTC in writing, on or before August 27, 2024 to either (i) process a full distribution of your account, or (ii) transfer your account to another custodian of your choice. For a full distribution, please complete the QTC Distribution form and include any supporting paperwork for distributions of assets. This paperwork must be in good order and received by QTC on or before August 27, 2024.

If you decide to transfer your account, you must make arrangements with a new custodian and complete their account opening paperwork, including a Transfer Request. This Transfer Request must be in good order and received by QTC on or before August 27, 2024. Upon QTC’s receipt of the Transfer Request, QTC will transfer your assets and will waive associated check and/or ACH fees for the transaction. If your Transfer Paperwork is received after August 27, 2024, your account will transfer to Inspira, and Inspira will process your Transfer Request.

You should consult with your own professional advisers regarding any decision to transfer your account to a financial institution other than Inspira or to request a full distribution of your account, including with respect to potential tax consequences.

What changes can I expect with this transfer?

During a transition period, QTC will continue providing certain administrative services related to your Inspira account, and you will access your account in the same manner and with the same credentials as you do today until further notice. It’s also important to note that while the QTC website and portal and some forms may still refer to QTC and/or Texas law, rest assured that Inspira remains the custodian, and your account will be governed by Illinois law. 

Will my online experience and login credentials change?

During this transition time, you will continue to access your account as you always have with no change to your login experience, username, or password.  

Inspira custodial agreements

• Traditional IRA custodial agreement and disclosure statement
• Roth IRA custodial agreement and disclosure statement
• SIMPLE IRA custodial agreement and disclosure statement
• ESA Coverdell custodial agreement
• HSA custodial agreement