Goldco vs Lear Capital
Sunday, September 24th 2023
Gold and silver investments have grown increasingly popular as an effective means of diversifying portfolios against economic volatility, offering investors protection. Many companies specialize in precious metal investing. Goldco and Lear Capital being two notable names within this niche industry.
Both companies specialize in helping investors establish and administer Individual Retirement Accounts (IRAs) composed of precious metals, and offer various related services. In this article we compare Goldco and Lear Capital comprehensively by looking into their histories, services offered, fees charged for certain accounts as well as customer feedback to give potential investors an informed choice when selecting precious metals IRA companies.
Company Background and History
Goldco: Established by Trevor Gerszt in 2006 in Woodland Hills, California, Goldco is a precious metals IRA provider as well as direct vendor selling gold and silver coins and bullion to investors. Over time Goldco has developed an outstanding customer. First focus while diversifying portfolios using precious metal investments like gold and silver bullion investments. They also specialize in platinum and palladium (1) investments too!
Lear Capital: Was established by Kevin DeMeritt and located in Los Angeles, California since 1997, offering precious metal IRAs, direct sales of gold, silver, platinum and palladium, numismatic (2) coins and more than two decades’ experience serving over 100,000 clients to date.
Both Goldco and Lear Capital offer various services related to precious metal investing. Below are their main offerings.
- Precious metals IRAs: Goldco is an expert at setting up and managing gold and silver IRAs for investors, providing services including rolling over existing retirement accounts into precious metals IRAs without incurring tax penalties and providing advice about which metals may be included within an IRA account.
- Direct sales: Goldco offers direct sales of an extensive variety of gold, silver, platinum, and palladium coins and bullion available for direct purchase by investors. Furthermore, their team offers expert guidance regarding which products may best meet investor’s individual requirements and preferences.
- Precious metal IRAs: They enable investors to open new or roll over existing retirement accounts while offering guidance and storage services with approved depositories.
- Direct sales: Lear Capital offers direct sales of gold, silver, platinum and palladium coins and bullion as well as collectible numismatic coins that hold value beyond their metal content.
- Price monitoring and Alerts: Lear Capital offers clients an online platform that enables them to track live precious metal prices as well as set price alerts according to their individual preferences. And they do all this at competitive fees structures!
Both companies’ fee structures are similar, yet distinct. Here is an outline of each firm’s fees structure:
- 50 Setup fee
- Annual maintenance Fee of $80.00
- Separate storage costs (segregated storage)
- Minimum investment required is $250,000.
- Initial set-up fee of $275
- Annual maintenance Fee: $100
- Annual storage fee: $150 (non-segregated storage) or $225 (segregated storage)
- Minimum investment being $7500.
Goldco has the lower initial setup fee, annual maintenance fee and storage fee associated with segregated storage compared to Lear Capital which offers smaller minimum investment requirements making both companies accessible options for investors with tight budgets.
Storage and Custodial Solutions
Goldco and Lear Capital both work with reliable custodians and storage facilities to protect investors’ precious metal investments from harm and secure them in an optimal environment.
- Custodian: Equity Trust Company and STRATA Trust Company serve as custodians for precious metal IRAs held with Goldco.
- Storage solutions: Goldco has partnered with Delaware Depository and Brink’s Global Services USA for storage solutions, offering segregated solutions so investors’ metals are stored separately from those belonging to other clients, creating an additional layer of protection.
- Custodian: works with several custodians to protect its clients’ investments, including Equity Trust Company, STRATA Trust Company and New Direction Trust Company.
- Storage: When it comes to storage needs, Lear Capital typically partners with Delaware Depository. They offer both non-segregated and segregated options so investors can select their level of protection depending on their own individual requirements and budget constraints.
Customer Reviews and Ratings
Customer reviews and ratings provide vital insight into the experiences of previous clients, helping potential investors assess the quality of service provided by each company.
Goldco: Goldco has received generally positive feedback from clients, earning it 4.8 out of 5 stars on Trustpilot (based on over 1,300 reviews) and an A+ rating from the Better Business Bureau (BBB). Customers frequently praise Goldco’s knowledgeable and helpful staff members, transparent fees structure, and efficient account setup process as reasons to trust.
Lear Capital: Holds an overall score that is just shy of Goldco and boasts just 3.9 out of 5 stars in Trustpilot (based on over 250 customer reviews) and a grade of A+ from Better Business Bureau. Many clients have had great experience working with this company However there are some complaints regarding high-pressure sales tactics, or difficulty liquidating investments.
Goldco and Lear Capital are established companies within the precious metals IRA industry, helping investors diversify their portfolios and protect their wealth through diversifying precious metal IRAs. Although both offer similar services, each has unique qualities which could impact an investor’s decision between the two options.
Goldco boasts more competitive fees and consistently positive customer reviews, offering investments primarily in gold and silver investments. On the other hand, Lear Capital boasts lower minimum investment requirements and wider selection of investment options, such as coins. However, their reviews from customers vary.
Goldco and Lear Capital should both meet your investment needs, preferences and goals. Choosing between them depends solely on personal factors and thorough research of both companies. Read customer reviews as well as consulting a financial advisor before making your choice.
Ready to invest in a gold IRA?
Everyone desires peace of mind regardless of retirement goals. If you are interested in adding gold and silver to your retirement plan you can do it through a self-directed IRA. These types accounts allow you to build your retirement portfolio that increases in value on. As with any investment instrument it is important to do your due diligence. To learn more, take a look at our gold IRA comparison for the “top firms in the USA below.
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