Are you looking for the right precious metals retirement portfolio to invest in? It can be a tough task to find the right gold IRA company. You may be considering Fidelity precious metals investment.
However, we DO NOT recommend Fidelity for any self-directed gold IRA rollover, whether is 401k, Roth or traditional IRA rollover.
Read on to find out why and who we ultimately recommend…
The Company & Services
Fidelity does provide you with ways on how to gain exposure to various types of metals. You can also purchase mutual funds as well as exchange traded funds that invest in various securities of prestigious companies involved in the production of gold and other types of precious metals.
The company’s main services are in mutual funds, stocks and bonds investment. With the wide range of investing vehicles offered, physical gold IRA is not their main service.
Things to consider
Before you get into setting up a precious metals retirement account with Fidelity, you need to consider various things first. One of the important considerations is that IRAs are often subjected to federal guidelines and restrictions which govern the trading of precious metals. The only precious metals which are permitted for purchase by Fidelity are Gold American Buffalo, Gold American Eagle, The Bullion Quality Bars, Platinum American Eagles and some other select metals.
Fidelity, or FideliTrade, is an independent company based in Delaware which provides precious metal sales and export services including buying and selling, delivery services, and the safekeeping of various metals. Such custody services are available to both companies and individuals. The company is not affiliated with Fidelity Investments and FideliTrade is not a broker type of dealer or an investment based advisor. The company is also not registered under the Securities and Exchange Commission or the FINRA.
Each of the trades done within the company, such as buying or selling of precious metals by customers, is handled by Fidelity Brokerage Services and is also monitored by the National Financial Services. The bullion and coins trading under Fidelity self directed IRA will be ensured by both FideliTrade and ScotiaMocatta. Those companies will ensure that the customers’ investments are protected against theft or disappearance. They are held in a separate account under the Fidelity group, and both companies maintain over $1 billion in all risk type of insurance.
What about Fidelity Reviews & Ratings?
Let’s look at 3rd parties ratings of the company.
- Yelp – 3/5
- Glassdoor – 3.5/5
- Viewpoints – 47/100
You can see that the ratings are average. Let’s check out what some of the reviews are saying:
I moved my retirement account here from AXA, and then when I wasn’t happy with my returns and tried to move it back to AXA, Fidelity made it impossible to move the funds with a series of complications that defies description. I initiated this action in August and now at the end of September have yet to have access to my money. I’ve spent hours on the phone, had my employer send multiple letters, and jumped through every ridiculous hoop they’ve asked of me. DO NOT INVEST WITH THIS COMPANY.
(Extracted from http://www.consumeraffairs.com/finance/fidelity.html)
I have my 401k at Fidelity because the company I work (Microsoft) for uses them and Smith/Barney. For the second straight time, Fidelity flat out lied to me regarding when I would have my money.
Details: I took out a loan against my 401k to purchase a house. I was told it would take 3-4 business days for the withdrawal. On the 4th day, I called and was given a littany of excuses as to why it would now be a full week later! Needless to say, when you’re trying to purchase a home, several days can have a dramatic impact on you getting the loan.
After about 2 years of entrusting retirement funds to Fidelity’s special Portfolio Advisory Services we have taken the sum back and in short, fired them.
Three times they kept me on the phone for more than an hour trying to talk us out of closing the account but as I told them repeatedly, the performance stunk and to make matters worse they took hefty quarterly management fees out of the account. $1500 to be exact!
(Extracted from http://www.yelp.com/biz/fidelity-investments-san-francisco)
Consider Our Top Recommendation – Regal Assets
One of the best gold IRA companies that you need to consider is Regal Assets. This company has constantly been highly recommended due to high confidence value and friendly professionals who provide clients with an initial orientation to the company.
Clients will receive a free investment kit that is delivered through priority mail and that will include DVDs, pamphlets and several other products from the company.
Regal Assets also recognizes those unique needs that most clients have. Clients can invest in well over $5000 and anything over $10,000 will have lesser fees.
The precious metals that are provided by the company are kept by custodians and clients who wish to store their gold in third party depositories will get their deliveries made by Brinks Security.
Regal Assets has risen to the top and its influence and excellent service is at the top of the investment world. First, Regal Assets is authentic since it has credible BCA, BBB and Trust Link recommendations. The company also has numerous positive feedbacks coming from clients along with recognition from Forbes 500.
The company has also been endorsed by various celebrities and famous columnists. So, when it comes to precious metals, then you should consider Regal Assets because it simply outdoes most other companies.