Miles Franklin Review
Finding a trustworthy gold IRA company takes a bit of of research. Reading investor reviews online is always a great place to start. This post investigates Miles Franklin, a long-established gold company in Minnesota to help you make the right investment decision.
About the company
The About Us page on the company’s website (www.milesfranklin.com) reveals its beginnings. It goes back to 1989, co-founded by David Schectman and his son Andy Schectman. Before that, both of these entrepreneurs were top dealers in precious metals in different firms.
Both David and Andy majored in economics at the University of Minnesota. As a cherry on top, all their team members have more than ten years’ experience in handling precious metals investments. They are well versed with the geopolitical climate and the macro/micro economics when it comes to precious metals investments. That possibly means that your wealth will be in expert hands.
Miles Franklin is a family-run company, and by that, it elicits some degree of trust. On top of that, this company has been in business for almost 3 decades now. Most likely, the quality of their service is what has kept them in business for that long.
Miles Franklin is both a discount broker of precious metals and a full-service investment company. The company is headquartered in Minnesota, but it conducts businesses all over the country. It has the Better Business Bureau badge of accreditation, which could be another sign of credibility.
Products offered by Miles Franklin
The company deals in a wide range of precious metals, including gold, platinum, silver, numismatic gold and palladium. Their diverse menu of offerings including the products from
- US Mint
- Perth Mint
- Royal Canadian Mint
Popular Foreign Mints can be helpful when you need to diversify your precious metals backed IRA account.
Miles Franklin, like many other gold brokers, is not an IRA custodian. Nonetheless, they have partnered with New Direction IRA to furnish their customers with full IRA services. These include setting up of IRA accounts and tracking of investment performance.
Miles Franklin stands out from the crowd with their two options of international storage programs. As a gold IRA investor, you can choose to store your precious metals with the company’s fully segregated storage program at Brink’s Montreal or Vancouver.
By segregation, it means that your precious metals are stored in a separate box designated with your name and account number. Under this program, clients are free to pick up, ship in or drop off precious metals. You can also sell your holdings from the storage site.
The second storage option is a private deposit box program at Brink’s Toronto and Vancouver.
According to the gold broker, these storage services have been vetted to be of a dependable reputation. On top of that, the Miles Franklin’s storage rates cover insurance. That means that you can afford to have some peace of mind when you invest and store gold with them.
The Miles Franklin Website
As always, a trustable gold IRA company will start by furnishing their clients with all relevant information about precious metal investments. Miles Franklin does reasonably well in this area. Both beginners and experienced investors will find detailed, informative pieces on the website. The Services Page on the company’s website guides first-time users through the process of establishing a self-directed gold IRA account. Through their partnership with New Direction IRA, the company promises to handle rollovers and account setups, guiding users on everything that is required.
Other bits of information you can find in this section include:
- General IRA FAQ
- IRS Guidelines
- Fees schedules with the IRA custodian
There is also more investment advice in the Blog section of the website. The company publishes regular blog posts on precious metal investment strategies. This section also contains transcripts of media interviews done by the top management on financial topics. For new beginners, there is plenty of assistance here to go by to become a successful investor.
The About Us page of their website has posts on:
- Benefits of investing in precious metals
- The ordering process with Miles Franklin
- The selling process with Miles Franklin
- Shipping and returns
Miles Franklin handles a majority of their dealings online. Customer support is via email or phone as well. The Miles Franklin team has a reputation for building lifelong relationships and providing custom-tailored solutions to clients. The company employs around a dozen precious metals specialists to respond to your requests and get everything in the pipeline for buying, selling, and storage.
Miles Franklin Ratings on Consumer Review Sites
There is sufficient social proof of the company’s reliability. They have an A+ rating on the Better Business Bureau. The site has accredited them since 2009. Currently, there is one positive review on BBB about Miles Franklin’s customer service and reliability. There are no complaints or negative reviews about Miles Franklin on BBB.
The gold company also has a 5/5 score on Yelp, and a CC rating on BCA. They are currently not listed on Trustpilot and the Rip-off Report.
Conclusion: Is Miles Franklin a legit IRA gold company?
Yes. This gold company is trustworthy, going by the information on their site and what investors are saying on business review websites. Andy and David Schectman have also developed a strong media presence as reputable financial experts. This company can probably help you start, diversify or solidify your gold IRA portfolio.
- Address: 801 Twelve Oaks Center Drive,Suite #834 Wayzata, MN 55391
- Phone: 1-800-822-8080
- Website: www.milesfranklin.com
- More than 30 years in business
- Great expertise in gold investing
- Segregated storage
- Only rated CC on business Consumer Alliance
- No engagement with TrustLink and TrustPilot
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This review was updated on Tuesday, July 1, 2020
- Rated 2.5 stars
- Miles Franklin
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