Lexi Capital is a precious bullion dealer based in North Carolina. Their main specialty is in precious metals IRAs. But they're far from the only company to offer these services. How do they compare to the competition? Are their practices actually legitimate?
We've put together a list of everything you should know before you get invested in Lexi Capital.
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About Lexi Capital
Lexi Capital focuses mainly on providing gold and silver IRAs to customers located throughout the United States. Their headquarters is based in Raleigh, North Carolina. They have partnered with a depository and a trusted custodian to help streamline the IRA setup process.
Lexi Capital aims to set itself apart from the competition with unique programs like the Gold Assurance Plan. Clients who are part of this plan have protection against market losses with gold for six months following their purchase. That's an unprecedented policy in today's market, and it has attracted many investors to them.
Company History
Lexi Capital came into being just two years after the 2008 financial crisis. The founders had lost their faith in the idea that retirement could be achieved through traditional means. They encouraged people to invest in precious metals to have protection against future stock market crashes.
Lexi Capital had another office located in Westlake, California for a time. This is the address on their Better Business Bureau file. But they do not appear to operate this location anymore.
The company was actually conceptualized by two graduating seniors at UCLA. They wanted to create a business plan for a company that sold gold and silver, while giving investors the same protections that Wall Street moguls get. They were able to crowdfund and launch the company with the Gold Assurance Plan as their flagship product.
Management Team
The CEO of Lexi Capital is Chris Mitchell, who has been in the role for several years. He has stated that his main priority is to help clients feel supported and satisfied with the services they receive. He is also active on social media, promoting various alternative assets as ways for Americans to diversify their retirement in a changing economy.
At the start of his career, Chris worked in real estate. Then he became a senior portfolio manager at a major firm, allowing him to garner more than a decade of precious metals experience. He then became the CEO of Lexi Capital. He is also the founder of the Bitcoin Advizers corporation, which creates cryptocurrency IRAs and operates alongside Lexi Capital.
IRA Signup Steps
The steps to sign up for an IRA are relatively simple. There is an IRA form provided on the website. You can download and fill it out with information about your current retirement accounts, contact info, and Social Security info. Then you can call the company to talk about your investment options.
Once you've decided on the investments over the phone, Lexi Capital will send the funds to your custodian. They will be securely stored in the Delaware Depository, which is IRS-approved and compliant with all modern security measures.
One major drawback, though, is that Lexi Capital hasn't published information about its inventory. Most online precious metals dealers will let you see what they have in stoc