With gold recently reaching a record high price of $2,685.15 per ounce in September, some investors may now think you have to be wealthy to add gold coins and bars to your portfolio. However, as a number of Lear Capital reviews that have been shared online indicate, that’s not necessarily true.
Chizuru, one of the investors Lear Capital has worked with, reached out to the company after hearing about other people buying gold and silver to protect their overall asset mix.
“I am not rich nor knowledgeable about how precious metals are traded,” Chizuru wrote in one of the Lear Capital reviews on the Trustpilot platform. “Lear Capital people were very busy with big customers when I contacted them, but they gave me the same level of attention and support and helped me come up with the best option I could afford.”
Precious Metals Basics
While some traditional individual retirement accounts and 401(k)s can have a fairly complicated and costly fee structure, including administration, individual service, and investment-related expenses, Lear Capital allows investors to incorporate physical precious metal assets into a self-directed IRA for as little as $5,000, according to Lear Capital founder and chairman Kevin DeMeritt.
“If you have a 401(k) or an IRA, and you’d like to take a portion and move it over to a self-directed gold-backed IRA, you can do that,” DeMeritt explains. “You don’t have to [roll over] your whole IRA; you transfer any portion that you feel comfortable with.”
You can also adjust the allocation of precious metals in your portfolio at any time.
“You can transfer over more, if that’s the way you’d like to go, or you can even shrink it down,” Kevin DeMeritt says. “The price of metals goes up dramatically; sometimes your percentage of precious metals, relative to other investments in your IRA, might look out of whack, and you want to sell some of it.”
Representatives from the company are available to help you learn about the precious metals market; they can also assist you with setting up a self-directed IRA to hold precious metals in, including the related paperwork and the transfer of funds from a preexisting retirement account into the new one.
For precious metal purchases up to $10,000, Lear Capital waives the $50 setup fee. The company will pay for the fees that are associated with storing and insuring your precious metals at an approved depository, as the IRS requires, if you purchase $25,000 to $50,000 in precious metals, and will cover the fees for the first two years of storage for purchases between $50,000 to $75,000. The company will pay three years’ worth of storage fees if your purchase totals more than $75,000.
As part of its commitment to ensuring investors thoroughly understand all aspects of the investment process, Lear Capital sends a printed confirmation of the purchase details and also follows up by phone to confirm the information has been received.
The company also provides a risk-free guarantee that allows buyers to review their purchase and cancel their transaction at no cost, if they desire, within 24 hours.
Scott T. said he appreciated the company’s help when buying precious metals for the first time.
“I ultimately invested in silver,” Scott said in one of the Lear Capital reviews shared on Trustpilot. “Even though I didn’t invest a huge amount of money, I was still treated like I was spending a million dollars. I will definitely purchase from Lear again.”
Lyn S. worked with Lear Capital to diversify her savings.
“I am a small-business owner, with not a lot of excess cash to invest. I have a little money in [the stock market]. Lear treated me as if I was a big-time investor and helped steer me to an investment that I’m not only comfortable with, but one that in time I think will yield a great return!”
Elaine C., too, mentioned she was pleased with how Lear Capital treated her.
“I ordered a small amount of gold from Lear,” she said in a Trustpilot review of the company. “The person I talked with was very helpful and informative. If I have [an] opportunity to order more gold, I will contact Lear.”
Also Read: Lear Capital Clarifies Why Gold Has Historically Been Viewed as a Store of Wealth
Precious Metal Market Assistance
In another one of the Lear Capital reviews that have been posted on Trustpilot, Jimmy J. said he was able to determine how much he wanted to spend.
“I had seen Lear Capital advertised on television several times and had been thinking of investing for quite some time,” Jimmy said. “So I called, and was immediately impressed with the friendly and helpful specialist with whom I spoke. I explained I had not invested in precious metals before, but I would like to begin. I gave him the amount I would like to invest, and he was very accommodating.”
Christopher C. praised the company’s “excellent selection” of precious metal coins and bars in one of the Lear Capital reviews shared on Google.
“Great customer service made the process to buy directly, as well as roll a small IRA over to Lear, a pleasure,” he said.
Alan B., in one of the Lear Capital reviews on Trustpilot, said the representative he spoke to asked him how much he wanted to spend, and then helped him place a precious metals order based on that total.
“I told him, and after a discussion, we decided on an amount [of metals] closest to what I wanted to spend,” Alan said. “[It] took only about 5 minutes. I will not hesitate to call him [immediately] when we are ready to order again.”
Kristin G. mentioned in one of the Lear Capital reviews shared on Google that a senior account executive from the company helped educate her about the different types of investments and the way each appreciates in value.
“I spoke with other companies, too, but they seemed more interested in telling me what they knew rather than helping me understand,” Kristin said. “I am investing personal, not retirement funds, which has different rules. I did not have a very large investment, but [the representative] treated me respectfully and went out of his way to make sure I was taken care of. I may never be a large investor for Lear Capital — but I will be an investor for life.”
