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Lauren Brown

Lauren has over 13 years of experience in wealth management and financial planning. She is a CFA charterholder and holds a Bachelor's degree in Finance. Lauren has worked with several asset management firms, offering wealth advisory and portfolio management services to high-net-worth clients.

Review of Augusta Precious Metals: Legit Company for Gold IRA Accounts? (2024)

Review of Augusta Precious Metals: Legit Company for Gold IRA Accounts? (2024)

by | Oct 26, 2024 | gold

If you’re thinking about investing in gold or silver, especially for your retirement, Augusta Precious Metals is a company that often comes up. They’ve been around since 2012, and they focus mainly on helping people set up and manage precious metals IRAs. They’re all about making sure you’re well-informed before diving into investing.

Who is Augusta Precious Metals?

  • Company: Augusta Precious Metals
  • Company address: 8484 Wilshire Blvd #515, Beverly Hills, CA 90211
  • Company’s phone: (844) 615-4484
  • Company’s URL: www.augustapm.com
  • Products sold: gold and silver (coins and bars).
  • Retirement accounts supported: IRA, 401k, SEP, TSP, and more. 

Augusta Precious Metals is a gold investment company that specializes in accounts that are known as precious metal IRAs (see this article to learn more about these accounts). The team behind the company leads with a clear focus on integrity and customer service. 

Management Team (Augusta Precious Metals)

Who are the key members of the company?

  1. Isaac Nuriani – Founder & CEO
    As founder of the company, Isaac Nuriani is also its current CEO. With a background in economics, he established the company with a vision to help people diversify their retirement portfolios through precious metals. Nuriani emphasizes educating investors and maintaining transparency, aiming to build long-term relationships based on trust and reliability.
  2. Devlyn Steele – Director of Education
    Devlyn Steele plays a crucial role in the company by leading the educational efforts. With over a decade of experience in financial services, Steele is responsible for helping customers understand the market dynamics and benefits of investing in gold and silver. He’s often the face behind the company’s webinars and educational videos, breaking down complex financial topics into understandable insights.
  3. Howard Smith – Chief Financial Officer (CFO)
    Howard Smith brings extensive experience to the company in the areas of corporate finance and operations. His focus is on ensuring Augusta maintains a solid financial structure while effectively managing costs and operations. This focus aligns with the company’s mission to provide clear and transparent fee structures to its customers.

Overview of Augusta’s Reputation & Reviews

Here’s a quick overview of the ratings and reviews the company has received from its customers:

 

What Augusta Offers

  • Gold & Silver IRAs: This is their bread and butter. They help you roll over your existing retirement accounts (like a 401k) into IRAs backed by physical gold or silver.
  • Buying Direct: You can also buy gold or silver directly with cash if you just want to hold onto physical metals.
  • Education: One of their key selling points is the way they prioritize educating you about investing in precious metals. They’ve got guides, videos, and even one-on-one webinars.

The Good Stuff

  1. Focus on Education 📚: Augusta puts a big emphasis on making sure you understand what you’re investing in. They offer in-depth resources and straightforward explanations – keeping you well-informed at every step. Devlyn Steel conducts educational conferences with new investors to explain everything they need to know about their potential gold investment. 
  2. Transparent Fees 💡: No one likes hidden fees, and Augusta seems to get that. They’re pretty upfront about what you’ll be paying, which is super important when you’re dealing with Gold IRAs that have storage and management costs.
  3. Dedicated Support 👥: You get a personal representative to guide you through the whole process, and a lot of people seem to appreciate having a single point of contact for all their questions.
  4. Solid Ratings ⭐: They’ve got good ratings across the board from places like the Better Business Bureau (BBB) and Business Consumer Alliance (BCA). This usually means customers trust them and encounter fair treatment.
  5. Buyback Option: If you ever want to sell your gold or silver, they offer a buyback program, which could be helpful if you need to cash out.

The Not-So-Great Parts

  1. High Minimum Investment 💰: They require you to invest at least $50,000 to get started, which can be a deal-breaker if you’re not looking to invest a large amount.
  2. Higher Fees on Premium Coins: Augusta sells both standard and premium bullion coins and bars. Premium coins come at higher premiums (obviously) so be aware of that. 
  3. Limited Options: Augusta focuses only on gold and silver, so if you’re hoping to diversify with other metals like platinum or palladium, you’re out of luck.
  4. Delivery Delays 📦: During periods of high demand, there have been a few reports of delays in getting physical metals delivered. Not a huge issue, but something to keep in mind if quick access to your assets is important to you.

What About the Fees?

  • Setup & Custodial Fees: They’re pretty clear about their fees for setting up and managing your Gold IRA. Still, it’s always a good idea to double-check with them directly.
  • Storage Fees: Since your gold or silver is stored securely, there are annual storage fees. They use segregated storage, keeping your assets separate and giving you extra peace of mind.

What Do Customers Say?

  • Positive Feedback 👍: Most reviews talk about how transparent and knowledgeable the staff are, and how much they appreciate the company’s educational approach. People feel more confident and well-prepared in their investment decisions.
  • Negative Feedback 👎: The main complaints are about the high minimum investment and occasional delivery delays. While these aren’t widespread, some customers mention the issue.

Bottom Line

If you’re looking for a company to help you diversify your retirement savings with gold or silver, Augusta Precious Metals has a good reputation. They’re big on transparency and education, which can be reassuring if you’re new to this kind of investment. Just keep in mind that they have a high minimum investment requirement, and their focus is strictly on gold and silver.

Before making any big decisions, it’s always smart to think about your goals and budget. And, if you’re unsure, a chat with a financial advisor might help you figure out if this fits into your overall strategy.

Augusta Precious Metals – FAQ

1. Is Augusta Precious Metals Legitimate?

Yes, Augusta Precious Metals is a legitimate company with physical offices and thousands of customers. They have a solid reputation for customer education and, perhaps more importantly, transparency. The Better Business Bureau (BBB) as well as the Business Consumer Alliance (BCA) both reflect high ratings for the company which is also ranked well by TrustLink.

2. Pros and Cons of Augusta Precious Metals

  • Pros: Strong focus on customer education, transparent fee structure, highly rated customer service, and positive customer feedback.
  • Cons: High minimum investment requirement ($50,000), higher premiums on certain coins, limited range of precious metals (primarily gold and silver), and occasional delivery delays reported.

3. What Are the Fees and Prices for a “Augusta Precious Metals IRA?”

Just like any gold dealer, Augusta charges premiums/spreads on the coins and bars you purchase from them. These spreads can range from 5% to 30% (or more!). The exact cost depends on both the rarity and type of coin. Ask about the breakdown of their fees based on the coins and bars you are interested in. Also, when you open an Augusta Gold IRA, there are fees for account setup, storage, and custodial services. You may obtain a waiver on these fees, depending on whether they have a promo when you call them. These annual fees vary but are generally a flat yearly rate ranging between $200 and $300, so it’s essential to confirm with a company representative. Augusta is known for its clear and upfront fee structure, so there are no hidden surprises.

4. Is There a Minimum for Investment with Augusta Precious Metals?

Yes. The minimum investment for an IRA account with Augusta Precious Metals is typically (around) $50,000.

5. Are There Common Complaints With Augusta Precious Metals?

The most common complaints relate to the high minimum investment amount and occasional delays in delivering physical metals during high-demand periods. Some customers also wish for a broader selection of precious metals beyond gold and silver.

6. Is There Free Shipping With Augusta Precious Metals?

Yes, Augusta often provides free shipping for precious metals purchases, particularly for IRA accounts. It’s a good idea to confirm this detail with a representative as promotions can vary.

7. Does Augusta Precious Metals Have A Refund Policy?

Augusta offers a buyback program, allowing customers to sell their metals back at a competitive rate. However, refund policies can depend on market conditions and specific agreements, so it’s essential to discuss this with them directly, BEFORE you place a purchase or open a Gold IRA account.

8. How Does Augusta Precious Metals Compare to Goldco or American Harfford?

Augusta, American Hartford and Goldco all offer Gold and Silver IRAs with a focus on portfolio diversification. Augusta is known for its educational approach and transparency, while Goldco gets recognition for its broad range of products and personalized services. Your investment needs and preferences will dictate your choice. We recommend you contact all of them and compare their prices and offerings. 

9. Is There a Lawsuit Against Augusta Precious Metals?

There are no significant public records or updates on lawsuits specifically against Augusta Precious Metals. However, investors should always perform their due diligence and review the company’s history and customer feedback.

10. How Do I Set Up a (Gold or Silver) IRA through Augusta Precious Metals?

To set up an IRA, you’ll need to speak with an Augusta representative who will guide you through the rollover process. They will help you move funds from your existing retirement accounts into a self-directed IRA AND aid in selecting the type of precious metals to hold.

11. Joe Montana and Augusta Precious Metals – How Are They Related?

Joe Montana, the legendary NFL quarterback, is a paid brand ambassador for Augusta Precious Metals. He reportedly became a customer after his financial advisors recommended Augusta, and he has since publicly endorsed the company.

12. Does Augusta Precious Metals Offer Promo Codes or Discounts?

Occasionally, Augusta may offer promotions or discounts on services, but these can vary. Speak to a representative directly about any ongoing promotions.

13. Is it Safe to Invest With Augusta Precious Metals?

Augusta emphasizes security and transparency in its dealings. It’s important to work with a trusted company when dealing with Gold IRA accounts. See this notice from the CFTC to learn more about some of the scams that unscrupulous gold companies have been using to lure investors. They have a compliance department and offer insured and segregated storage options for their precious metals and are generally a trusted name in the industry.

14. How Many Years Has Augusta Precious Metals Been Operating?

Augusta Precious Metals has been operating since 2012, focusing on providing secure and transparent precious metals investment options.

To learn more about Augusta, we recommend that you request their free gold kit.

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Is Grasshopper Bank legit? Is it the best business banking solution? Read our review…

by | Sep 26, 2024 | Business Banking

Grasshopper Bank Logo

Credit: www.grasshopper.bank

Wondering if Grasshopper Bank’s business banking solutions are right for your company? Now, we understand that selecting the right bank for your business can be a challenge, especially today with the variety of options available. Now, there are so many options, I know. From brick-and-mortar banks to online institutions, is Grasshopper a good option? Let’s take a a deep dive and review their business debit and checking accounts…

Grasshopper Bank vs Traditional Banks

Forbes calls Grasshopper “not your Grandma’s bank”

Traditional banks are not always the best option for startups and small businesses, as their offerings are often designed for larger companies, and they impose various fees and offer limited accessibility. Frequently, this leads to customer frustration and resentment. For a long time, though, they were the only option small and medium-sized business owners had. But not anymore.

Recently, the rise of digital banking has revolutionized the industry. How so, you ask? These new online platforms provide flexible services and banking options tailored to modern financial needs.

Amongst these institutions, Grasshopper Bank stands out. It is a digital institution delivering innovative banking solutions WHILE prioritizing convenience. And their rates? That’s the other thing. They have a competitive offering on interest rates too. At this bank, there is something to cover every need.

A Brief Overview

Founded as a “client-first digital bank,” Grasshopper Bank seeks to “find a better way for banking” through accessible, user-friendly solutions.

Based in the United States, Grasshopper operates as a fully digital institution. Since its inception in 2019, the bank has eliminated the complexities often associated with traditional banking. Instead, they focus on delivering high-interest and low-fee accounts and small business administration (SBA) loans. They also offer financial planning tools designed to empower customers and their businesses.

More details:

Official Name: Grasshopper Bank

Website: https://www.grasshopper.bank/

Founded in 2019

Phone Number: 1-888-895-9685

BBB Rating: N/A

Headquarters: 261 5th Ave, Suite 610, New York, NY 10016

What Makes Grasshopper Bank Stand Out?

  1. Grasshopper embraces a “client-first” approach, prioritizing user-friendly online banking services. The goal? Cater to today’s tech-savvy consumers. If that’s you, great! If not, then don’t worry. Their intuitive mobile app provides user-friendly access to account management. It allows customers to check their balances, transfer funds, and deposit checks from anywhere at any time. This level of online accessibility eliminates the need for any physical branches.
  2. Grasshopper offers a range of innovative financial products, from high-interest savings to low-fee checking accounts. These accounts will maximize savings and minimize costs. Additionally, the bank provides specialized services such as small business administration (SBA) loans, senior secured loans, lines of credit, and commercial real estate loans. It is a one-stop shop for various financial needs, enabling customers to tailor their banking experience to their financial goals. And their business needs.
  3. Committed to exceptional service, Grasshopper follows customer-centric policies. They offer 24/7 support through various channels, including online chat and email. The bank’s approach includes a transparent fee structure, ensuring clients are fully aware of any charges associated with their accounts.
  4. Grasshopper Bank implements robust security and trust measures to safeguard customer information. These measures include encryption technologies, multi-factor authentication, and more. Customers can also feel confident knowing their deposits have FDIC insurance coverage. This adds a layer of protection to their banking experience, ensuring peace of mind. At least I feel better with insurance coverage as a backup safety plan. Don’t you?

 

Services Offered by Grasshopper Bank

Here’s a breakdown of the main services available:

  • Innovator Checking account: This account typically has low or no monthly fees and allows unlimited transactions. Yes, you read that right. I said LOW or NO monthly fees! The Innovator checking is an account convenient for daily use. Customers can obtain money through a network of ATMs and access online banking features such as mobile check deposits and bill payments.
  • Money Market Savings account: These savings accounts offer competitive interest rates up to 3.30% APY on balances of over $25,000, allowing customers to earn more on their deposits. This account is ideal for future goal funding. Why? Because it has no monthly maintenance fees or minimum balance requirements. It also enables you to maintain easy access to your money.
  • Small Business Administration (SBA) lending: Find yourself in a particularly urgent situation? This could come in handy… Grasshopper Bank offers competitive SBA loans for businesses needing additional financial support. This option allows companies to finance larger purchases or consolidate debt without excessive fees. Plus, the application process is straightforward, permitting quick approval times.
  • Digital tools and education: Grasshopper Bank provides various tools designed to assist customers in managing their budgets and reaching their other financial goals. These resources include automated bookkeeping, integration with QuickBooks, cash flow management, and digital invoicing. They also post educational materials on their blog, empowering customers to make informed decisions by improving their financial literacy.

 

The Pros and Cons of Grasshopper Bank

Pros

  • Competitive interest rates with APY up to 3.30% on MMA Savings Bundle balances of $25,000+
  • Low-fee accounts with no monthly maintenance fees and free overdraft protection. They also have unlimited no-fee
  • No minimum balance requirements
  • User-friendly online platform
  • Effective customer support services

Cons

  • Limited physical branches for customers who prefer in-person service
  • Lacking some traditional banking services

 

Frequently Asked Questions about Grasshopper Bank (FAQs)

  • Why choose Grasshopper Bank?

Grasshopper is appealing because of its competitive interest rates combined with minimal account fees. AND its user-friendly online platform allows for easy access to services. The bank emphasizes customer support. What about 24/7 assistance? Of course.

  • What types of accounts can I open?

The better question might be, “What CANT you open?” Grasshopper offers several types of accounts, including savings and low-fee checking accounts. They also arrange specialized services for specific financial needs, such as small business financing and commercial real estate lending. This variety allows customers to choose the account that best fits their financial goals. See, I told you. There is something for everyone here.

  • Are my deposits insured?

Yes! You and I can both sleep easier knowing that Grasshopper is a member of the FDIC. This means the bank has insurance on deposits up to $250,000.

  • Are ATM withdrawals possible with Grasshopper Bank?

They are. Grasshopper customers can access their funds at any one of 8,500+ SUM or 37,000+ MoneyPass ATMs across the country. While the bank offers free ATM withdrawals at specific locations, there may be fees associated with out-of-network ATMs.

  • What are the fees associated with Grasshopper Bank accounts?

Grasshopper Bank prides itself on offering low or no fees for its accounts. There are typically NO monthly maintenance fees(!!) or minimum balance requirements, making these products accessible to a wide range of customers. The bank also does not charge overdraft fees. However, some fees may apply for out-of-network ATM withdrawals.