Regal Assets Club has put together the foundation of key aspects that should be investigated by individuals researching which precious metal investment organization to utilize. There are ten fundamental factors that should be investigated before seriously considering any organization. Regal Assets Club labels this as our “Ten Point System”.
Be sure to ask the potential investment firm your exploring about any or all of these ten items if you cannot locate the information on their organizational website:
1. Does the company have the proper credentials: Is the company licensed for precious metal transactions. Be sure to verify the firm is licensed in the state in which their headquarters are located. If they are not, it would be wise to move on to another organization that is.
2. Is the organization rated well by third parties? – What is the companies rating with The Better Business Bureau (BBB)? We recommend only using an organization that has an A rating or higher. In addition, find out if the company is rated by the Business Consumer Alliance (BCA). We recommend only using an organization that rates at a AA or higher with the BCA. Make note of any other third party that rates the organization (including major publications such as Morning Star, Forbes, Money Magazine Etc.). While the latter isn’t always fool proof, a few articles in such publications often speaks volumes in recognizing an organizations over-all reputation. If no major publication has covered the organization as of yet there could very well be a negative reason for that.
3. Is it evident their current clients are satisfied? – If an organization does not have a customer comments or testimonial section anywhere on their website, be wary. As well beware of company websites that only list the customers first name in their reviews. It is considered proper etiquette that organizations use an individuals first name and as well but only, the middle initial or first letter of the clients last name (using a clients/customers full name or listing the clients name without their permission is considered a breach of privacy).
4. Availability and location- It is highly recommended that only organizations with an actual physical address be entertained in your selection. If an organization uses a P.O. box as their primary address the organization is usually contracted through a parent company. Regal Assets Club is not suggesting every that only uses an P.O. box as their primary address is illegitimate, however it is better practice to use organizations that have a complete physical address within the country in which you reside. After determining if the company has a physical location check to see if their hours coincide with your schedule. Consider the fact that you may unexpectedly need to contact them at some time in the future. If an organization is only available until 3:00 pm or only operates four days a week you may want to move on to the next organization.
5. Does your intuition feel right when speaking with them?: This is may be a bit unproven, however we at Regal Assets Club are strong believers in the theory of trusting ones own instincts. If it feels wrong or something seems amiss it usually is.
6. Does the organization use a high rated storage service for your assets? Make certain the company uses a reputable storage service and find out where your gold will be stored. You should only use an organization that uses a company such as Delaware Depository or Brink’s Global. In addition ask if it would be possible for you to actually see your gold in person if you were ever in that area (even if you plan on never being in the same state as their storage facility). If the answer to that question is “no” it may be considered wise to steer clear of the firm. Some organizations allow you the storage facility of your choice.
7. Does the organization charge by the amount invested or do they offer a flat rate service? – Not all precious metal investment organizations charge clients in the same fashion. Some organizations charge by the amount invested or being stored while there a few that charge a single flat rate. Finding a quality firm that uses a flat rate is the better of these two options. Ask if there are any other fees besides a basic storage fee and the standard administration charges which are associated with almost all precious metal investment organizations (if there are no administration charges that usually means reason for suspicion).
8. How often are their clients charged? Find out the companies fee schedule. Are their fees quarterly, bi-yearly, or annually? We recommend using an organization that charges annually versus quarterly or bi-yearly. Organizations that charge more frequently, especially every quarter usually end up costing the investor more in the long run as opposed to a single annual rate.
9. How fast will I get my gold from the time of my order and when can I cash out if I choose to? Do not use a company that entails a three or four week processing fee and shipping protocol if you request some or all of your hard assets. Only consider companies that can have your gold delivered to your residence in no more than ten business days. Cashing out should be an option at any time (though Federal Law has percentage penalties in cashing out before the age of 59 1/2 in retirement accounts).
10. If I choose to cash out/liquidate my gold assets how can I receive payment? – Payment should be no more than three business days via direct deposit into your bank. Some organizations offer wire transfers within 24 hours.
*There are a couple of reputable organizations that meet all the requirements in our ten point system. One organization that has every base covered and exceeds the recommendation on a few items is Regal Assets LLC. The firm normally has the best over all ratings and is the most used by our members. You can visit their company website here: Regal Assets