Ever since the early 1980’s Americans have been able to hold a gold IRA account, but not many do, and there are reasons why. One thing about reasons however, is that reasons are not always good. Ever do something because you thought it was right, but it turned out to have poor consequences? If you have you probably found that situation to be disappointing. Have you ever done something because you were told it was the right thing to do by someone you were paying for their expertise and it turned out that they were looking after their best interest and not yours? You probably found that situation maddening. Let’s look at some reasons why more Americans don’t own a gold IRA account.

Greedy Financial Advisers

Just because someone has passed a “Series” test and holds a license to sell financial products, does not mean that they understand all of those products, nor does it mean they understand what is best for you. What holding a Series 7 license probably does mean, however, is that that individual works primarily or even solely for commissions. If you have ever held a commissioned sales job, you can probably remember knowing commission structures just as well as you knew the products that paid well, and in this world products that pay low commissions generally don’t get sold often. A gold IRA is a very low commission financial product, and worse yet it takes time to set up and fund, and it requires the cooperation of several entities. In fact, a gold IRA requires not only the person who is interested in gold IRA investing to call a gold company, but then the gold company must initiate and open the IRA with a company licensed to open a gold IRA account, then finally once the account is opened and funds are deposited, then and only then can the metals be purchased on your behalf from the the initial company you called. Once this happens the gold is shipped to an authorized vaulting company to be stored on your behalf. As you can see, this can be a long and somewhat complicated road that pays little to the first salesperson, and he or she will get their 1% to 2% commission only after at least one or two other companies fulfill their obligations. Truth be told, most financial advisers are after the large and quick paycheck, and they don’t always have the best interest of their clients in mind.

Your Financial Adviser Cannot Open A Gold IRA Account For You!

That’s right. A Series7 licensed financial adviser cannot sell physical gold or silver! They can sell stocks in a gold company, or suggest an ETF (Electronically Traded Fund) that tracks the price of gold or silver, but they cannot deliver physical metals to you, and they cannot deliver the required types of gold to a gold IRA account! They can however, refer you to a gold company like ITM Trading, but there is no commission in that for them.

Open A Gold IRA Online at Store.ITMTrading.com

Choosing to leave the traditional 401K system or the traditional IRA account system can be daunting, and there are a lot of gold IRA companies out there. Do your due diligence before you open a gold IRA. Check with the BBB. Read online reviews. Call an ITM Trading representative, we think you will be impressed with our knowledge and expertise. At ITM we will take all the time necessary to explain the different types of gold investing to you and make sure that you end up with the right product, whether it be a gold IRA, gold bullion you can hold yourself, or private gold.