Benetrends is the pioneer in Rollover as Business Startups (ROBS), offering their services since 1983. They offer business financing through your 401(k) and offer help during the entire process. We compiled available Benetrends reviews from around the web to determine what Benetrends customers think about the company.
Benetrends Customer Reviews
Summary of Benetrends Reviews
We looked around the web and were unable to find many user reviews from Benetrends’ customers. The reviews we were able to find were mixed. Here’s what we found:
What customers say Benetrends does well:
Benetrends offers the most flexible options for how your 401(k) will be used. They also allow for changes over the course of your contract, making sure that you will always get exactly what you need.
What customers say Benetrends does not do well:
Of the few negative reviews we found, some described an aggressive sales processes leading to post-approval complaints. One mentioned being moved along the process of setting up a ROBS quicker than they would have preferred while others stressed the inherent risk of using retirement funds to start a business (even a franchise).
Most Helpful Positive User Review
Many of the positive reviewers raved about how straightforward and detail oriented the customer service is. One of them was referred to the company by others, and said they now refer those who want to franchise from them to Benetrends as well.
Most Helpful Negative User Review
One Benetrends reviewer who wanted to set up a ROBS (and ultimately did so with Benetrends) described being being pushed along the process before they were ready. While this customer complimented the SBA assistance Benetrends provided, the rushed ROBS process did not leave them happy.
Response to User Reviews from Benetrends
No response at this time.
Benetrends Pricing and Fees
|Initial Setup Fee|
|Wait Time for Funds|
|Audited Plans in 2016|
|# of ROBS disqualified after audit|
|Will the firm help in the case of an audit?|
|Pre-ROBS outside counsel|
|Outside counsel in case of an audit|
|Annual number of ROBS|
1600+ (60% franchises)
Pricing Review for Aspiring and Current Small Business Owners
Benetrends is the pioneer in ROBS services, which gives them the advantage of experience. Their rates may seem high, but they are also the only ones who have very flexible terms, enabling you to choose from a variety of financing options: from profit sharing, to SBA loans and more.
It is also worth noting that Benetrends allows their clients to cancel as long as they do so with a 30-day notice. Their service will stop upon submission, and billing will completely stop as soon as the 30 days are up.