Gold Alliance IRA is a precious metals trading firm. Helping consumers set money aside for retirement and take advantage of tax breaks is their major goal. Gold individual retirement accounts (IRAs) are long-term investments for US residents.
But are they the top option for a gold IRA provider? And are there any warning signs to look out for? To help you make an informed choice, we analyzed the company's products and services.
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About Gold Alliance IRA
In 2002, a group of precious metals experts with 85 years of combined experience founded Gold Alliance. In contrast to typical investing institutions, which also provide equities and mutual funds, this one specializes in gold and social metals alone.
The Reno, Nevada-based corporation provides customers with a variety of precious metals. Limited antique products, common bullion items and IRA-eligible products are all accessible to customers.
Commonly purchased coins including the Silver Canadian Maple Leaf, Gold American Eagle, Platinum Canadian Maple Leaf and Silver American Eagle are all IRA-eligible products.
Gold Alliance's original purpose was to advise investors on how to hedge against the risks of government intervention and market volatility. The company's initial goal was to give customers the peace of mind and economic advantages of owning precious metals.
The organization maintains that investing in precious metals is a reliable alternative for portfolio diversification to the stock market and banking institutions. The company's staff uses its initial financial analysis to deliver customer forecasts, insights and investment recommendations.
The company's best features are the high quality of its customer service and the wealth of information it provides to potential clients about precious metals investing.
Gold Alliance IRA Management Team
Advisors who have worked in the precious metals industry for many years lead Gold Alliance. The group united over the same goal: to see their customers succeed financially. Some of the brains behind the operation are discussed here.
Joseph Sherman – Chief Executive Officer/Partner
Joseph, who came from a low-income family, realized the value of having a diversified and secure retirement fund early on. He now devotes himself to advising customers on safeguarding best and growing their retirement savings by investing in a wide range of assets outside the traditional banking and stock exchange systems.
Joseph Sherman has been actively assisting the general public through writings and public talks, in addition to his private client work. He has worked in the private school, commodities trading and financial services industries for almost 20 years.
Joseph has provided his expertise to several illustrious businesses and organizations such as the Industry Council for Tangible Assets and the National Ethics. He is still committed to helping retirees in the United States with their finances.
Joseph graduated from the University of Tel Aviv with the highest possible GPA. Besides spending time with his family and friends, he finds great satisfaction in football.
Kevin Troy – Senior Portfolio Manager/Partner
After beginning his career at JP Morgan Chase, Kevin Troy successfully shifted gears and moved into the real estate loan industry. Yet, the dot-com bust reawakened his resolve to assist American citizens in safeguarding their financial futures.
He decided at that time to shift his investment focus from property to gold and silver. For the past 15 years, Troy has worked tirelessly to ensure the financial security of thousands of clients.
The San Diego State University honors degree in Marketing that Kevin Troy earned demonstrates his dedication to the field. He and his family have recently relocated to Los Angeles. He is a very busy person, engaging in sports like soccer and basketball as well as volunteering.
Fred Abadi – Senior Portfolio Manager/Partner
Earlier in his career, Fred was a business operations executive who oversaw production and customer service optimization for a wide range of companies. Abadi increased income at Global VR by 40% thanks to his efforts to improve customer service.
The prospect of developing meaningful relationships with his customers initially piqued his interest in the precious metals industry. Fred has been working in this field for almost 15 years now.
He focuses on providing excellent service to his clients by creating individualized plans to assist them with portfolio diversification. The former California State University student likes to trek in his spare time.
Gold Alliance IRA Reviews
As was previously said, Gold Alliance's customer service is a major company asset. Based on over 160 reviews, the company has earned a 4.96/10 from BBB, 4.85/10 from Google and 4.92/10 from Proud Member.
Recent feedback on TrustLink described Gold Alliance as "knowledgeable," "educational," and "pleasant." As a result of viewing a video of a company representative advocating real money over fiat cash, the client opted to collaborate with the company.
The review continues with the customer outlining the process she was guided through and the helpfulness of the employees. Reviews over the web indicate that Gold Alliance is a respectable precious metal investing organization.
Custodians and Storage
Gold Alliance has teamed up with three IRA custodians to serve their customers better. They include:
Delaware Depository, located in Wilmington, is Gold Alliance's preferred repository for IRA-eligible precious metals. The facility's class 3 vaults and cutting-edge security measures protect assets across more than 72,000 square feet.
Being one of the world's first insurance businesses, Lloyds of London provides complete coverage for the firm. Delaware Depository customers can select segregated or non-segregated vaults to store their valuables.
Why Invest in Gold?
Gold is an excellent investment for several reasons. First and foremost, gold has endured the test of time compared to its more volatile counterparts. In addition to being the oldest form of wealth in the world, gold has a finite supply on Earth. As a result, it has been beating out stocks and bonds over the past centuries due to its steady growth and consistent increase in value.
Another reason gold can be considered an excellent investment is because it represents a store of value. Many consumers focus on purchasing bullion bars and coins. Coins come in many shapes and sizes depending on the era during which it was minted.
For example, a modern-day coin of gold can be purchased in any denomination such as 1/10 gram or 1 gram. In addition to this, dealers also sell gold coins that are made of other metals or even bimetals that have been combined with precious metals such as silver or platinum.
Buying gold coins and bullion bars makes it possible to diversify your portfolio. In addition, the coins are an excellent way to secure your assets against deflationary periods.
Gold bullion is also an excellent investment because of its high liquidity. The ability to quickly exchange the metal for other currencies or stocks allows customers to convert their IRA funds into usable cash when necessary, easily.
The price of gold has also proven to be resilient in tough economic times such as the Great Recession. Many other investments became worthless during this time; however, gold could stay thanks to its safe-haven status afloat.
Another benefit of investing in gold is that it allows you to hedge against inflation. The yellow metal's value tends to increase when people are concerned about the value of their currency or stock market. For example, the gold price increased by 642% between 2001 and 2011.
Gold is a very secure investment because it is valuable and indestructible. In a catastrophe, gold will likely be one of the few things left intact, unlike paper currency that has been devalued or stocks left void.
Understanding a Gold IRA
A gold IRA is a retirement account allowing its owner to invest in tangible assets like gold and silver. A gold IRA account permits gold, silver and other precious metals in specified forms, subject to specific regulations. The advantages of a Traditional or Roth IRA are yours to enjoy with this account.
Without worrying about market fluctuations or government meddling, a gold IRA is a great way to invest for retirement. Both pre-tax and post-tax monies can fund a gold IRA with all the benefits and drawbacks of Traditional and Roth IRAs.
In contrast to traditional IRAs, which restrict your investment options to equities, bonds and paper assets, a Gold IRA enables you to purchase actual precious metals. Your money is safer and more secure as a result of this variety.
How to Set Up a Gold IRA
Your ability to diversify your portfolio by including precious metals is constrained when you use a traditional custodian like a bank or other financial institution.
You may spread your risk by teaming up with a specialized firm like Gold Alliance. If you want to open a Gold IRA, follow these simple instructions.
1. Choose a Custodian
First, you'll need to choose a custodian to manage your gold IRA. The custodian will store your gold and other precious metals and be responsible for IRS reporting and compliance. You should research to compare different custodians and understand their fees, storage locations and other services.
2. Open an Account
Once you've chosen a custodian, you'll need to open an account with them. This involves filling out the necessary paperwork such as a New Account Application, which will include information about your personal information, investment goals and risk tolerance. You may also need to establish a trust or LLC as the account holder.
3. Fund Your Account
After an account is opened, you'll need to fund it by transferring funds from your current retirement account such as an IRA or 401(k). Your custodian will help you with this.
4. Select and Purchase Precious Metals
Now that your account is funded, you can select the precious metals you want to invest in. You'll have to determine which metals are best for your retirement portfolio and budget and your custodian can help you. Once you've chosen your metals, you can purchase them through your custodian.
Gold Alliance IRA Products
Your financial advisor at Gold Alliance will discuss the many investment options available to you and help you choose the one that best fits your needs in terms of time commitment, investment objectives and available capital.
Some people may invest in safe investments to protect themselves against inflation. You aren't necessarily looking to generate huge profits but rather a safety net in case the stock market crashes. During the past few decades, economic instability has grown ubiquitous. Your best bet in this situation is to buy things that slowly depreciate. Your financial advisor may suggest you put money into:
The stability of each of these items is relatively constant. You run the same risk as with any investment, but past performance suggests a lower danger of loss.
If you're looking to invest in precious metals for capital appreciation, you should focus on items with a history of rapid price increases. There will be more danger involved with these things, though. The starting price might change up or down rapidly.
The Gold Alliance crew frequently suggests investments in pieces like the $20 Liberty gold coin of 1904 to customers seeking rapid gain. This purchase might be combined with another investment that offers protection against loss in value. For instance, consider purchasing an item whose fundamental cost is consistent. You can remain financially secure even if your risky investment fails.
The silver peace dollar issued in 1922 is a good example of a currency providing some security measure for investors. This investment has had a consistent floor price since it was first offered.
Also, some people have voiced privacy worries. They're searching for a financial investment that will only need them to disclose as much information or fill out as many forms as necessary for tax purposes. Your financial advisor can help you figure out which options are most suitable for meeting these criteria.
Gold Alliance IRA Fees
An annual cost of $180 to maintain your Gold Alliance IRA account. This sum includes all costs associated with archival upkeep, account management and online statement access.
Their costs are lower than those of many rivals. You won't have to worry about paying for server space or upkeep because the corporation covers those costs.
The metals you acquire will also require payment. Precious metal prices change often. Due to price fluctuations, you won't be able to view the actual pricing for things on the Gold Alliance site. To learn about pricing, you'll need to give them a call.
Gold Alliance Capital's high premiums for precious metals is a potential negative. Sometimes, the service may charge a premium above the going market rate for acquiring precious metals. Some businesses, like Gold Alliance, claim to mark up their pricing by as much as 33% above the going rate.
As a result, reselling the metals might result in a loss. Vendors provide precious metals at prices substantially closer to the current market value. Instead, they rely on account fees to generate revenue.
There is no minimum amount required to join Gold Alliance. The minimum investment required to purchase many other businesses is sometimes relatively high.
There are also no other expenses associated with trading metals besides the annual account maintenance charge of $75 and the metals' spot prices.
Educational and Customer Satisfaction
Among Gold Alliance's many learning resources is a collection of informative articles covering such themes as "The Benefits of Owning Gold," "Optimal Diversification," and "Crisis Protection with Precious Metals," to mention just a few. In addition to providing precious metals charts and a Free Metals Learning Kit, the organization also provides market investment news.
To ensure that customers are always happy, the organization offers unlimited service. Once a customer has purchased Gold Alliance's precious metals products, they will continue to get assistance from the company's senior portfolio management staff and access relevant educational tools and publications.
Customers of Gold Alliance have had a positive experience with the company and have rated them highly. Customers have praised the company for their quick responses, helpful customer service representatives and the quality of their products.
Many customers have also commented positively on the company's website, stating that it is easy to use and provides all the information they need to make an informed purchase decision.
When writing this, Gold Alliance Company has an A+ rating on the BBB website. The BBB also notes that Gold Alliance has had a few complaints over the years, but they have all been resolved satisfactorily.
It is also mentioned that the company has been a BBB Accredited Business since 2013 and has maintained a clean record. This is a testament to their commitment to customer service and reliability.
Investing in gold and other precious metals through Gold Alliance IRA is possible. The firm does have cheap maintenance fees. Yet they can do it by charging more than the market rate for their precious metals. The price of the metals will be far higher than the amount you can get for selling them.
Though many alternatives may provide the same services at a lower cost and with greater ease and convenience for the customer, it's a good firm. This is why we can't provide our full endorsement to this company. Our best five highly ranked gold IRA companies offer far better rates and deals.
The customer service by these companies is also far better. They are committed to building long-term relationships with their customers. They provide various services, products, educational tools and access to quality customer care 24 hours daily.
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