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Advantage Gold is a company that specializes in helping people invest in precious metals IRAs. Not only do they educate you about your retirement options, but they also give you insights about the best investments for your portfolio, and they help you with setting up your self-directed IRA in the first place.
But there are a lot of companies that specialize in precious metals IRAs. Does Advantage Gold stand out from the crowd? What services do they provide exactly, and what do their customers think of them? Here are the most important key points to be aware of.
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About Advantage Gold
Advantage Gold is a precious metals IRA specialist. They focus on helping people roll over their retirement funds into self-directed IRAs. From there, you're able to purchase IRS-approved metals to hold in the licensed depository of your choice. You can use the existing assets in your retirement account to buy precious metals as a way of diversifying your portfolio.
Advantage Gold says that their mission is to be the top expert in rolling over your IRA to invest in precious metals. They employ experts who are familiar with the various tax regulations and codes at play, which makes it easier to streamline the account setup process.
Another aspect of the company is the client education. Every employee is familiar with different precious metals, how they perform in relation to the stock market, how they are affected by global economic factors, and the risks and drawbacks of each. They'll be able to offer you guidance on which specific metals will work best for your long term growth and settlement plans.
The company firmly believes that in order to make a sound financial decision, you need to be educated, understand your options, and be comfortable with your choice. Since the precious metals experts can teach you about the different market forces affecting the industry, this company works well for new investors who have never purchased precious metals for their retirement before.
There are many IRA precious metals dealers that don't actually streamline the IRA process. They just put you in touch with a custodian and expect you to work out the rest. But that isn't the case with Advantage Gold.
When you work with the company, your representative will do the following:
The company specializes exclusively in the creation and funding of precious metals IRAs. That means that they don't sell non-IRA metals or alternative assets. There is an in-house IRA department staffed by employees who are familiar with all of the tax codes and required paperwork for setup and maintenance.
There is a strong commitment to customer service. Each employee's highest priority is the consumer. You will get access to educational materials and enough guidance to help you feel secure in your decisions.
There are two co-founders who are responsible for the different policies and directions that the company takes.
The first co-founder is Kirill Zagalsky. Before starting the company, Kirill was a specialist in precious metals retirement accounts. His position was a Senior Account Executive at one of the national dealers who sold US Mint coins. As such, he had a chance to learn everything there is to know about the IRA setup and maintenance process.
Kirill has worked with hundreds of customers. His specialty is helping to turn paper assets into tangible precious metals by using direct delivery services, standard retirement account contributions, and retirement account rollovers. As someone who has specialized in both precious metals and licensed futures, he is uniquely qualified to hold this responsibility.
Kirill started out as a commodity broker for a nationwide brokerage firm. He then became the Vice President of that company. Over the course of his career, he has been a guest on multiple different media outlets, including an NBC feature.
The other co-founder of the company is Adam Baratta. Adam was also a Senior Account Executive working with a national US Mint bullion dealership. Like Kirill, Adam's specialty was in the care and maintenance of precious metals IRAs. Nowadays, he works one on one with clients to understand their investment goals and make plans to reach them.
Adam often works with high net worth investors, creating customized long term strategies to protect wealth while allowing gains in the future.
Before founding this company, Adam has successfully created and organized several different companies. He is an entrepreneur who has made successful businesses within the entertainment industry. His creative work has won awards for the writing, directing, and production.
Adam is the co-founder of a movie production company that has created partnerships with NBC Universal and the NHL. Even though he's extremely busy these days, he still has a strong presence in Advantage Gold, offering his perspective and making decisions through the Board of Directors.
The IRA services make up the bulk of the company. The in-house IRA team will help you with setting up your IRA and choosing the precious metals for it. They know everything about the regulations and the types of assets that can be legally secured in the account.
Different companies have different IRA services, though. Some are more hands on, while others barely help at all. So where does Advantage Gold fall?
Advantage Gold is one of the most hands-on and helpful precious metals IRA companies in the industry. They've really taken the time to streamline the entire process, and they make sure that you're confident in the decisions that you make.
A precious metals IRA cannot be stored in your home. It must be stored with a licensed depository that meets certain security requirements. You must also have a valid custodian in charge of maintaining the account. Advantage Gold has a few recommendations for both your storage and your custodian.
The company does not have its own storage depository, but it works with two different companies. You can choose between Brinks Global Services and the Delaware Depository. Different storage companies and vault setups have different associated fees.
Between these two companies, you can choose from three US vaults in:
The Delaware depository has certain tax advantages that come with the state of Delaware. But you might want to hold your precious metals closer to your home. There are no depositories located in Texas or the general southern region of the US, so if you're looking for storage there, this might not be the best option.
Another potential drawback is that there are no international storage options. This is fairly common when it comes to precious metals IRAs. But there are some companies that have partnerships with depositories in places like Toronto, London, and Singapore.
When you take distributions from your account, you can either liquidate the metals or have the metals themselves physically shipped to you. You'll be able to coordinate this with your custodian. With all of the depositories, you are the legal owner of the contents of your account. There is no chance of losing your assets if the depository declares bankruptcy.
Your account custodian is in charge of maintaining your precious metals IRA. Different custodians will have different fee structures and pricing for things like annual account maintenance, transactions, and reports. It can sometimes be helpful to compare the plans for a few to determine which is best.
In keeping with this, Advantage Gold partners with two custodian companies: Strata Trust and Equity Trust. These are two of the most well-known custodians of self-directed IRAs in the US, and they have generally good consumer care policies.
When you get ready to set up your account, you'll need to choose whether to work with Strata or Equity. While the entire setup process will be done through Advantage, each of the custodians has a slightly different application. You can fill out the application online before you even call the company if you want.
Advantage Gold offers a buyback guarantee for your precious metals. When the time comes to take distributions, you can liquidate your assets by selling them back to the company for the fair market price.
Liquidation can sometimes be the most difficult part of investing in precious metals. You have to find a buyer who will give you a fair price, and that can be difficult when you want cash fast. Some people find themselves compromising between "fast" and "fair." Buyback programs like this help to eliminate that risk.
Advantage Gold is not the only precious metals IRA specialist to have a buyback guarantee. But it is a little bit rare for companies to have such robust buyback programs without any strings attached. It is the sign of a company that cares deeply about making sure that every customer gets the most out of their investment.
The minimum payment for any of the metals is the current spot price of the item when you liquidate it. In addition, the company says that if there is a large demand for certain coins, they may be willing to pay significantly more than the spot price. It's always good to have more in-demand inventory on hand.
The buyback program is very simple. You will be emailed or faxed a form with information about the process. You'll fill it out with a full inventory of the items that you want to sell, along with whatever other fields are required. As soon as you sign and date the form, the company will lock the buy back price.
They will never change the price due to fluctuations in the precious metals market. You don't have to worry that you'll unexpectedly be given less than you agreed to. The transfer process is also very fast, since all your custodian needs to do is move the metals out of your vault and into the company's vault instead.
Is Advantage Gold a Scam?
Advantage Gold is not a scam. Not only that, but they have excellent customer reviews. The company appears to care about making sure that customers are satisfied and that people are happy with their purchases. Trustpilot and Trustlink both show extraordinarily high ratings.
The biggest advantage of this company is that it focuses so strongly on client education. They aim to be the right investment partner for those who are new to the precious metals industry. By giving you educational materials, they help you to make informed decisions about how you diversify your portfolio.
Advantage Gold specializes in precious metals IRAs. Unlike other precious metals dealers, who have a very wide range of products, this company only offers coins and bars that can be held inside a gold IRA. That makes it a lot easier to shop as you're getting your account set up.
Customers have reported high levels of satisfaction with their IRA services. However, it's possible that the options aren't quite as streamlined as some of the competition. But there is still a high level of attention to detail.
Pros & Cons of Advantage Gold
Advantage Gold is a precious metals IRA company that has excellent customer feedback. People say that the company representatives are attentive, kind, and good at making suggestions. They also say that the company helped them to feel empowered at a time when they'd previously felt like they didn't know much at all.
There's nothing holding you back from working with Advantage Gold. All of the feedback indicates that the company is great to work with. Any notes we have are just extremely nitpicky with regards to the competition.
For example, it's super convenient and helpful that you can fill out your entire IRA application without talking to anyone. You don't even have to contact the custodian to get the paperwork. But the form can be very tedious and difficult to go through if you're not working with a representative who simply shows you exactly where to sign.
Similarly, you might find that some of the gold and silver selection is a little sparse. The company only stocks items that can be held in an IRA, and they aren't always available in the inventory. You're most likely to find Canadian and US coins, so if you're a big fan of foreign currency, you might want to work with someone else.
But these are just small nitpicks. The company largely has everything we'd want to see in a precious metals IRA specialist, and they have the positive feedback to boot. Despite being a newcomer to the industry, they've quickly made a name for themselves as an innovator in customer care.
Overall, we believe that there is a better option when it comes to your investment.
The above company is our top recommendation after doing extensive research. Feel free to keep doing your own research, or you can visit Advantage Gold below!