It seems that investors are constantly bombarded today with information about the next great investment opportunity. With so much chatter, though, it can oftentimes be tough to cut through the clutter and really determine which is truly the best way to go.
For those who are seeking the benefits of a gold backed IRA account, though, there are a variety of advantages to this type of investing. The key is, then, finding the best gold IRA companies to work with in opening, funding, and managing your investment account.
What to Look for in Gold IRA Companies
Throughout the past several years, the list of gold IRA custodians has grown considerably. So, when deciding where to place your retirement funds, you will have several important factors to consider.
When seeking out the best gold IRA companies, here are the most critical points to factor in:
1) How is the company rated by the Better Business Bureau and other similar ratings agencies?
When checking out any company for any reason, it is always a good idea to check with the Better Business Bureau (BBB), along with any other industry related ratings agencies. This is especially the case when you are planning to invest some or all of your retirement savings with the company you are researching.
When you are researching gold IRA companies, there are several consumer agencies that you should check with. Although the company may not be ranked by all of them, it is likely that they will have reviews with at least some of them.
First, you should check to see if the company is listed with the Better Business Bureau, or BBB. Typically, the BBB will assign a letter grade to companies, based upon factors such as customer service, consumer complaints, product quality, and competency in performing services. The BBB also publishes information regarding the number and type of complaints that a company has received within the past several months.
Many gold IRA companies will also receive ratings from TrustLink. This organization assigns a rating of between one and five stars, along with a listing of detailed customer reviews. This can be extremely helpful to potential new customers.
2) How diverse is the product selection that is offered by the company?
The diversity of the company’s product line is also very important. Although the Internal Revenue Service stipulates that there are only certain types of precious metals that may be placed into a precious metals IRA, it is still key to have a broad choice in the products that are offered through your precious metals IRA provider.
3) Are the company’s representatives knowledgeable?
Having a knowledgeable and helpful gold IRA account representative is essential. This is because you will be entrusting your retirement savings to the company. Therefore, you want to be sure that the people who will be handling your account know what they are doing, and can also clearly explain how the process works should you have any questions or concerns.
Before you actually open a gold IRA account, you may want to contact several companies and ask questions of their representatives. Inquire about different investing options, as well as about what recommendations they would make, based on your specific financial situation and goals.
4) How is the company’s customer service?
Going hand in hand with knowledgeable representatives is having helpful customer service. There are likely to be times when you will simply have a question about your account or your statement. When calling in to customer service, you want to be sure that you will receive a fast, helpful, and courteous answer. Likewise, how available are the company’s customer service reps? In other words, does the company provide numerous ways to contact them such as phone, email, and online chat?
Another big part of customer service is the tools that the company has available to their investors. For example, does the firm provide helpful information on its website? Is there information about gold IRA investing or other helpful tips? If so, this may be a company for you to consider.
5) Does the company offer a product buy-back program?
While there are many gold IRA companies out there that are more than willing to sell you gold – along with other precious metals – it is important to find out if they will also buy back their products. Some companies will even guarantee to buy back products within a given period of time at the current market price.
6) Price structure of the IRA account.
You will also certainly want to account for any of the fees that you will be charged by the custodian of your self-directed IRA, as these can vary a great deal from one to another. Fees are typically charged for establishing the IRA account itself. There is also usually an annual account fee as well.
It is important to be sure that you are aware of any and all fees that the account provider will be charging, as you don’t want to be unpleasantly surprised after it is too late. Therefore, be sure to shop around and read all of the fine print prior to opening and funding your new self-directed IRA account.
Once you have considered all of the possibilities and narrowed down your list of gold IRA companies, you will be better able to move forward with your tax advantaged precious metals investing. Over the next several years, gold is anticipated to continue climbing in value. With this in mind, investors who take action now are likely to be well rewarded in the future.
Originally posted 2017-01-13 04:37:12.