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If you're interested in investing in precious metals, you probably know how easy it is to be deceived. Sometimes it seems like for every one honest company, there are ten dishonest ones. And people are even more wary when they're making purchases over the internet.
One of the companies in the industry is Gold Alliance Capital, which was founded in 2017. Though it doesn't yet have a long history on the market, it was founded by experts who have backgrounds in precious metals and general investment.
But what exactly do they offer? How have they established themselves in such a short period of time? And are they a legitimate business with ethical practices?
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About Gold Alliance Capital
Gold Alliance Capital is a company that was founded by people with decades of precious metals experience. The goal is to connect investors with precious metals so that they can meet their long-term goals for growth. Gold Alliance specializes in gold IRAs, which are self-directed IRAs that include precious metals as an alternative asset.
There are plenty of gold dealerships on the market, but precious metals IRAs are a more narrow niche. Because the paperwork to set up and fund an account is so complex, these companies help you through the process. That way, you don't have to deal with the headache and hassle of IRS compliance.
Gold Alliance has only been operating since 2017, but it has quickly become a major player in the precious metals game. Part of this is because the company has been written up by serious finance publications like Forbes and the Wall Street Journal. It also benefits from positive leadership.
The company makes several promises to the people who choose to invest. They operate with strict ethical policies, with the effort of giving investors the best customer service. They believe that they're filling a niche in the precious metals IRA void.
One of the promises they make is empowerment. Investors have worked for years to accrue their retirement savings, and Gold Alliance's aim is to help those investors have control. A self-directed precious metals IRA is completely controlled by you, rather than being made up of investments picked by a third party custodian.
There are solid reasons to put part of your assets into a self-directed account. Traditional retirement holdings include things like stocks and bonds. These are subject to the whims of the economy. By offsetting those things with tangible assets like precious metals, you make your overall retirement portfolio more secure.
Gold Alliance also vows that investors will be kept informed. They will take the goals and current assets of the customer into account, and then they will explain which assets they think are the best to invest in. Then they'll offer investment strategies for handling the growth over time. And after that, you're free to do whatever you want. The account is completely yours to control.
Another promise is that the purchase process will be simple. Even though the customer will be learning a lot about precious metals, you don't need to worry that there will be too much complex information. The company walks you through learning about the industry, contacting your custodian, and picking the precious metals that have the best potential performance over time.
The company also employs senior portfolio managers. These people create custom precious metals portfolios for every customer. You can talk to them about how to create a cushion in case of economic downturns, how to protect yourself against potential disaster, and how to still have room for growth over time.
Gold Alliance promises that the privacy of every customer will be valued. Your information won't ever be reported publicly or privately to anyone, so you don't need to worry about your financial information becoming compromised.
Finally, the company promises to act as an investment partner with you for life. After you make your initial purchase, they will keep working with you and monitoring your investment portfolio. If you want to make purchases in the future, they'll suggest ways to grow your holdings.
This means that you get a lifetime of customer support. If you have any questions about your portfolio, the industry, the economy, or potential future purchases, all you have to do is pick up the phone.
Reputation and Organizations
Gold Alliance Capital is such a new company that it's difficult to find reviews from past customers online. There are some competitors that have hundreds or thousands of positive reviews, and it's hard not to compare them. How do you really know you're getting something worthwhile?
Well, what Gold Alliance lacks in customer reviews they make up in their organizations -- at least partly. You might not be sure what your customer experience will be like, but you can be sure that they have ethical setups.
Some of the company's organizations include:
The company was created to try to help people in the US protect their retirement savings from government intervention, market volatility, and other factors. The team of founders is made up of people with prior experience in the precious metals investment industry.
The CEO of the company is named Joseph Sherman. He grew up with parents who worked hard for hours every week. As a child, his family struggled to keep food on the table. That has driven his desire to help people protect their retirement portfolios and other assets.
Joseph has been discussing the potential financial crises ahead since 2016. In addition to writing articles on the topic, he also travels to give lectures. He is very passionate about deconstructing the influence of the US central banking system.
Prior to creating Gold Alliance, Joseph had two decades of financial services and trading experience. He worked specifically for US seniors who were in financial need. That has also spurred his focus on retirement. He received a law degree from the University of Tel Aviv and is part of the National Ethics Association.
The senior portfolio manager for the company is named Kevin Troy. He first started out working at JP Morgan Chase. As time went on, he became entrenched in real estate lending. Eventually, he made partner with a mortgage broker in California.
Kevin's desire to help Americans was spurred by the financial crash of the early 2000's. He moved out of real estate and began working with precious metals investing. Over the past fifteen years, Kevin has worked with thousands of clients to enforce and protect their investments.
Another senior portfolio manager is Fred Abadi. He was class of 1996 in the California State University. After obtaining his Business Management degree, he embarked on a career in operations. His accomplishments involve streamlining processes for clients and manufacturers in a wide range of industries.
Fred became interested in precious metals investing due to his desire to help people. He took on a personal touch with his clients. Having been working in precious metals for fifteen years, Fred now works to give every client a personalized strategy for their long-term growth.
A precious metals IRA is subject to strict rules and regulations by the IRS. In addition to containing approved items, it must also be stored in an approved facility. You are not allowed to store your IRA in your home.
As a general rule, a depository vault will be fully insured for the value of your metals. It will also be outfitted with high security alarms and security guards. You don't have to worry that your assets will be vulnerable to natural disasters, damage, or theft.
Some depositories offer segregated storage options. These will typically cost more, but they may appeal if you're very concerned about your holdings. Segregated storage is kept in a vault that only you and your custodian can access. Nobody else will ever be able to touch your metals.
Gold Alliance does not have any specific partnerships with depositories in the US. They leave you to choose your ideal one by yourself. While this does afford you a greater level of freedom, it can be a pain if you don't really care.
To be approved to store IRAs, depositories must include strict security measurements. There are some licensed depositories located in every region of the US, from Texas to California to Utah to Delaware to New York.
Rather than connecting you to one of their partners, Gold Alliance suggests that you discuss the best storage option with your custodian. There are some other companies that handle all of your custodian communication for you, which can be a little more convenient.
They do recommend the Delaware Depository for those who have no personal preference. Delaware is a state with tax advantages, and Gold Alliance has been working with them since they first opened. All of Delaware Depository's accounts are secure and fully insured.
One of the major drawbacks of a precious metals investment is that it can be difficult to liquidate the assets quickly. Gold Alliance takes care of this through their buyback program. When you're ready to sell your metals and take distributions from your retirement account, they will buy back the gold you purchased from them.
The company gives clients their highest bid prices in an attempt to get as close to the market value as possible. Once you arrive at a deal, they lock in the price, so you still get the same amount even if the price of the metals drops.
The company also purchases precious metals from other people. But if you're a client, you'll get better pricing.
There are three main steps to utilizing the buyback program:
The first step is to call the company's customer service line and tell them what you have to sell. They will give you an offer based on the condition of your items.
After accepting the offer, the funds can be wired directly to your IRA account. Then your custodian will take care of packaging and shipping out the metals.
If you're selling metals that aren't held in an IRA, the company will give you a free label for the shipping. It includes full insurance coverage to allow for safe traveling. If the metals get lost or stolen in transit, the insurance company will reimburse you for the cost of them.
The final step happens after the metals arrive at the Delaware Depository, where they will be put into Gold Alliance's account. Experts there will examine the metals and make sure that they are authentic and of the agreed-upon quality.
Once this confirmation has been made, Gold Alliance will either wire the cost to you or send a check through the mail. This step only applies to people who are selling precious metals that aren't held in an IRA.
It's also important to note that the company purchases bars and coins, but they do not purchase jewelry.
Is Gold Alliance Capital a Scam?
Gold Alliance Capital is not a scam. They are a legitimate precious metals dealership that offers exactly what they say they do. The customer feedback seems to be largely positive, and the company seems to be managed well.
One potential issue, though, is that there are very few customer reviews online. It's hard to find verifiable accounts of people's experiences with the company. That goes especially when compared to some of the top competition, which has anywhere from dozens to thousands of reviews.
But a lack of reviews isn't necessarily a bad thing. It just means that this is a smaller company. You have to decide whether you're willing to risk investing with a company before you know much about the prior customer experiences. With that said, the few reviews that do exist have been generally positive.
Pros & Cons of Gold Alliance Capital
Gold Alliance Capital is a solid company with which to invest your money. Not only are they not a scam, but they also seem to be a pretty well managed outfit. Their policies are all built around helping the customer, and what little feedback exists is positive.
Overall, there's nothing to scare us away from this company. But there are a few companies that might offer everything that Gold Alliance Capital does... with better feedback. It's not Gold Alliance's fault that it hasn't been around long enough to accrue that great community reputation. But a great community reputation goes a long way toward making a company trustworthy.
This is definitely a company to keep an eye on so you can see how it evolves. In the meantime, the choice of whether to invest is up to you.
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 Gold Alliance Capital below!