Regal Assets is a popular choice for people who want to open a precious metals IRA. Not only that, but they allow you to invest in cryptocurrency for your retirement as well. Opening a self-directed IRA can seem overwhelming, and companies like Regal Assets help ensure that you stay within the lines.
But is Regal Assets a good company? What do past customers have to say about them? What exactly do they offer, and are their prices worth it? We've done the research and broken down everything you need to know before you get started.
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About Regal Assets
Regal Assets was founded in 2009 and operates out of Burbank, California. It is among the most popular precious metals IRA companies in the US. In 2010, the Better Business Bureau gave them an A+ rating. While that rating has slipped slightly, it seems to be due to circumstances largely outside of the company's control. They also still maintain a perfect AAA with the Business Consumer Alliance.
Regal Assets was created by Tyler Gallagher, an entrepreneur and finance expert. The company offers both precious metals and cryptocurrency for a self-directed IRA. In addition, they can help you set up and fund your self-directed IRA. That way, you know you're being compliant with all the relevant regulations.
When you purchase IRA products through Regal Assets, the company coordinates the entire process. They offer customer support throughout the transaction, helping to connect you to your custodian. They can even communicate with your custodian for you once you finalize your purchase.
All of the items sold by Regal Assets are eligible for storage in a self-directed IRA. This is important because there are strict regulations regarding what you keep in your retirement account. Precious metals need to adhere to certain purity standards, and you can only put certain coins in the account. Cryptocurrency is also subject to regulations regarding storage.
Regal Assets has more than 50 employees, at least according to their Linkedin page. This makes it one of the larger operations in this industry. In fact, the company is bigger employee-wise than competitors like Goldco and Augusta Precious Metals. But there isn't a lot of information about the managers and executives behind the company, aside from key information about founder Tyler Gallagher.
Tyler Gallagher is the founder and CEO of the company. He created Regal Assets in early 2009. Since then, he has functioned as the CEO, helping to direct the company's growth. Over the past decade, Regal Assets has grown into a Fortune 500 company.
In addition to the headquarters in California, Regal Assets has three international locations. These offices can be found in Dubai, London, and Toronto. The international reach may appeal to people who want to purchase precious metals for offshore storage.
Tyler Gallagher was an entrepreneur who had to work for what he had. The path to success wasn't easy. When he moved to Los Angeles for the first time, he was completely broke, even having to sleep in his car when he was between places. He managed to create Regal Assets entirely on his own, without needing any inside connections or ties.
Gallagher is one of the most respected individuals in the precious metals industry today. He has offered commentary to multiple media outlets like Forbes, Thrive Global, and the RT television network.
Pricing and Fees
Regal Assets doesn't have information about its fee structure listed on the company website. In addition, the prices for precious metals and cryptocurrency change on a minute-to-minute basis. They are calculated based on the spot price of these items at any given time.
You can get a free startup kit through the website. This has all of the information you need to learn about precious metals and cryptocurrency. It explains the benefits of precious metals IRAs, as well as the risks. You'll also get a better sense of the different economic factors that affect the price of precious metals.
We have been able to find out some of their fees, however. All of these are based in 2022.
It's recommended that you have a minimum of $10,000 to invest in cryptocurrency or precious metals to get started. Most people take this out of their existing retirement savings. You can roll funds over into a new IRA without incurring any major or minor penalties.
Regal Assets doesn't charge you anything for the IRA setup process. That's incredible, considering most competitors have at least a flat fee. When you make non-IRA purchases and store them with Regal Assets, you also don't have to pay any maintenance or storage costs.
There are maintenance and storage costs for those who purchase an IRA. This remains true no matter which IRA company you work with. You are legally obligated to have a licensed custodian managing the account, which incurs fees. You must also keep your items in a licensed depository, and there are vault fees for the storage.
With Regal Assets, you'll pay an administration fee of $100 per year to your custodian. You'll pay $150 per year for your storage vault. Both of these costs are waived for new customers for your first year of holdings. In addition, the storage is segregated, which adds an extra layer of security. You and your custodian are the only ones who will ever be able to access it.
These flat fees are ideal because they're a little less than industry standard. They're preferable to sliding scale fees because they don't increase as you add more assets to your account. As such, you aren't punished for earning more.
About Regal IRAs
Regal Assets offers Regal IRAs, which are the first IRAs combining both cryptocurrencies and precious metals. Both of these are classified as alternative assets that can be held in a self-directed IRA, but not a traditional one. Precious metals are valued as an alternative currency for their stability, while cryptocurrency has been much more speculative.
Regal Assets describes their offerings as a "gold IRA on steroids." They also believe that established cryptocurrencies like Ethereum and Bitcoin are like digital precious metals. They have many of the same benefits: they're protective in times of economic instability, they're decentralized, and their value isn't correlated to the stock market or the dollar.
Cryptocurrency like Bitcoin is mined by computers. Just like precious metals, the supply is limited. Meanwhile, cryptocurrency like Ethereum is used for a variety of industrial purposes. Ethereum's platform is used by federal governments and central banks all over the world. The Regal Assets starter kit has more information about different cryptocurrencies and their benefits.
Regal Assets has a unique process to help connect customers with ideal assets for their accounts. The company has forged partnerships with a variety of IRA custodians and licensed storage facilities. In addition, they have network connections with professionals connected to other alternative assets, like real estate.
The goal of the company is to create a unique retirement account that adheres perfectly to your needs. Not only does it help you to diversify and hedge against stock market volatility, but it also gives you a greater potential for profit. Cryptocurrency has become more and more popular over the years, and most financial analysts believe it will become a key part of finance in the future.
The more that digital currencies become normalized, the more highly they'll be valued. But it's also important to note that cryptocurrency is a high risk investment. There's the potential for high rewards, but there's also the chance that you might lose everything. Because of this, Regal Assets emphasizes that you shouldn't invest anything that you aren't willing to lose.
The IRA process at Regal Assets is compliant with all IRS regulations. There is a strong emphasis on transparency and security. Your information is protected throughout the process, as are your assets. Your customer representative will listen carefully to your needs, and then they'll make recommendations based on your circumstances.
As of 2022, Regal Assets supports a variety of different precious metals and cryptocurrencies. All of these can be legally held within a precious metals IRA.
Their available precious metals include:
They do not appear to have any palladium coins in their inventory, but that's true of most precious metals IRA dealers. The Regal Assets selection of precious metals is far more robust than that of much of the competition. And as mentioned, all of their products can be held in an IRA, so you don't have to worry about accidentally breaking regulations.
There are currently eight different cryptocurrencies available for purchase through Regal Assets. All of these can be stored in a digital wallet as part of your IRA. Each cryptocurrency functions differently and has a different level of risk. If you want to learn more about them, you can talk to a Regal Assets representative or acquire their starter kit.
The available cryptocurrencies include:
All of these are legitimate and established cryptocurrencies, but some come with more risk than others. If you want to invest in the most well-established options, Ethereum is the most versatile while Bitcoin has been around the longest.
Benefits of Regal IRAs
The goal off a Regal IRA is to help diversify your portfolio so that you're protected against volatility in the global economic market. At the same time, you have more options for growth than you get with a traditional precious metals IRA.
If you have an interest in investing in both cryptocurrency and precious metals, this IRA is probably the best choice for you. Even if you want to invest in precious metals alone, the positive reputation and good customer service make it an ideal choice.
Precious metals are an investment that people make for protection. Gold and silver have been prized throughout the world for thousands of years. Their value has remained relatively stable for centuries.
Precious metals are considered very stable assets for investment. Gold typically performs inversely to the stock market. When the stock market is struggling, gold prices rise. That means that you have something to carry you through until the economy stabilizes again.
Since precious metals are a stable asset, they don't have huge growth potential. They do tend to increase in value to combat inflation, but they don't see explosive growth.
Cryptocurrency, on the other hand, has grown enormously over the past decade. Some of the first cryptocurrency investors are billionaires now. And experts expect that the currency will only continue to grow in value over time.
Is Regal Assets a Scam?
Regal Assets is not a scam. The company has a positive reputation in the industry, and they definitely provide the services that they claim to. While there have been a few complaints and negative reviews, these pale in comparison to the positive reviews.
You'll find multiple glowing reviews of the services on Trustpilot. On Facebook, Regal Assets boasts nearly 100,000 "likes," which shows you how broad the company's reach is. When you go to the Business Consumer Alliance, you'll find that Regal Assets has the highest possible rating of AAA, along with 5 stars based on 57 reviews from past customers.
Their BBB page is a little less impressive, though. There have been a few negative customer reviews written, and five complaints have been filed. The BBB gives Regal Assets a rating of B- because of the complaints.
In addition, the BBB page has an alert about government action. The state of Minnesota requires special paperwork and licensing in order to deal precious metals. Regal Assets previously sold to Minnesota customers without the proper paperwork. After the allegations were investigated, Regal Assets paid $15,000 in fines and has since resolved the problem. They're unlikely to make the same mistake again!
Sometimes the best way to learn about a company is by looking at the complaints against them. Let's take a look at how Regal Assets has solved some of theirs.
On the BBB website, five complaints have been filed over the past year. Prior to that, there were no complaints in the previous two years.
One complaint from February of 2022 stated that Regal Assets hadn't given any proof of purchase. But Regal Assets responded to say that this was an issue with the customer's custodian, not with the company.
The precious metals had been delivered to the appropriate vault months before. To get a statement about the holdings, the customer needed to contact the custodian, which is a different company.
Another complaint came from someone who said they had set up an IRA with Regal Assets as their precious metals dealer. They funded the account and were told that it would take about a month for the metals to be shipped. But six weeks went by without the metals being delivered.
The customer followed up with an email to their representative. They received a response from the president of the company saying that the shipment of metals had arrived that week. The customer was then told that the metals were probably still going through the vault auditing process.
But another six weeks later, the metals still weren't showing up in the account. The customer called Regal Assets and was given a prompt return call by the president of the company. According to the customer, several excuses were given. By February, it had been over four months since the purchase without the metals being properly deposited.
Regal Assets responded to say that the problem was resolved prior to the BBB complaint being filed. Like with the previous complaint, the issue was with the custodian rather than with Regal.
The client said they didn't accept this because the matter hadn't been resolved before the complaint was filed. But the company responded to say that they wanted to fix whatever the remaining issue was because it's important that their customers are taken care of. The customer never responded again.
The final complaint listed on the website was resolved to the customer's satisfaction as well. The customer requested that their complaint be made private since they were happy with the resolution. The BBB doesn't seem to have yet privatized it, perhaps by mistake. The other two complaints are private as well, so we don't know the details.
Overall, it seems that the sales representatives at Regal Assets make an effort to solve problems with their customers. Oftentimes the issue isn't even their fault, and is instead related to the custodian of the IRA. It's encouraging that Regal Assets emails and calls back so promptly, and it's good that they care so much about their reputation.
There also don't seem to be any patterns of mismanagement. All of the issues with customers were either not Regal Assets's fault, or they were flukes caused by extreme circumstances. Many precious metals dealers have experienced longer handling times than usual over the past year due to varying economic circumstances.
Pros & Cons of Regal Assets
Regal Assets is one of the most popular precious metals IRA companies in the industry. They have over ten years of experience, and the company owner is a longstanding member of the Forbes Finance Council. In addition, they have partnered with a number of other reputable companies.
Regal Assets's IRA setup process might not be the same level of streamlined as competitors like Goldco. However, it is still very impressive. What's even better is that they offer both cryptocurrency and precious metals IRA investing through the same company. If you're interested in combining these alternative assets, the Regal Assets cost is significantly less than what you'll find with other companies.
Regal Assets also has a solid reputation and is helmed by a variety of finance professionals. Not only are they well-respected in the precious metals industry, but they have thousands of 5 star reviews online. Their Facebook page has been liked by over 97,000 people.
Though there have been a few complaints made in the past year, those have largely been related to issues outside of Regal Assets's control. Many of the problems were related to the customer's account custodian instead. In addition, Regal Assets has reached out to every unhappy customer and made an impressive effort to make things right. They really care about consumer satisfaction.
All in all, we do recommend this company, especially if you want a cryptocurrency IRA as well. Instead of going through two separate companies, you can do everything at once here.
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