Established in 1997, Lear Capital is a gold IRA Company that mainly deals in physical precious metals namely gold, silver and platinum. Lear Capital’s will provide a personal account representative who provides real-time information to keep clients ahead of spot pricing and economic events that may impact IRA accounts. However, the contract every investor is required to sign clearly states that this company provides no tax, legal or investment advisory services, which has led many to believe that it is a company of salesmen. While the transparency within the contract is admirable, it’s worth considering the fact that representatives of Lear Capital are mainly paid in commissions.
However, the company believes that informed clients are the best clients. To this effect, the contract does outline the expected profit margins for different kinds of metals.
Lear Capital may not do the most honest advertising. While it is true that the value of gold and silver has increased during the last decade, they fail to mention that the value of gold and silver is also subject to decline in value. A good example is the 33 percent fall in the value of gold and the massive 60 percent decline in the value of silver between 2011 and 2015. However, on the bright side, Lear Capital requires customers to hold their purchased coins for a period not less than three years. Specifically, the contract states 3 to 5 years and preferably 5 to 10 years in which time the value of any precious metal is expected to grow significantly.
Complaints are always a major issue to consider when evaluating an IRA company with which to place an investment. Lear Capital has 32 complaints placed against them with the BBB. However, most of these complaints were due to the extended period of time it took to deliver coins and other such purchases. When making a purchase, clients are required to transfer the necessary funds within 5 days. After this, the company has exactly 28 days to deliver the order. If payment is made by cheque, Lear Capital has no obligation to respond to the order until the cheque clears.
Standard Fees: Not currently listed on their website.
BBB: A+, 32 complaints
BCA: AAA, 3 complaints
Trustlink: 4.5 star rating
Address: 1990 S Bundy Dr #600 Los Angeles, CA 90025-5256