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Rosland Capital is a gold IRA company that serves customers throughout the US. They are one of the best-known gold IRA companies, largely due to their advertising campaigns and promotions. But are they actually the best one to work with? Here's what you should know before deciding whether to roll over your retirement account with their services.
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See if Rosland Capital made our list this year, or continue with this review below to see if they are possibly the right company for your investment needs.
About Rosland Capital
Rosland Capital has been operating since 2008, when the economy was plunged into a recession. At that time, many people wanted to put their savings into precious metals as a safety precaution. Precious metals are also an investment hedge against silver and gold.
In addition to offering gold IRA services to people in the US, the company sells gold internationally. You can purchase gold and silver as part of a personal investment portfolio outside of a retirement account. They have sold bullion to people in the UK, Sweden, Hong Kong, and Germany.
Rosland Capital has a key focus on gold IRAs and client education. The more that a client learns about precious metals investment, the more confident they can be in their choices.
Not all precious metals are available to hold in a gold IRA. Rosland Capital's representatives can help clients select ones that are eligible for a retirement account. In addition, the company sells some collectible coins that are not eligible to hold in an IRA.
Gold IRA Setup
If you want to set up a gold IRA using Rosland Capital's services, you can do so by following three steps.
First, you'll call the company and talk to a representative. You can discuss your budget and the type of investment you would like to make. They will be able to make suggestions for the best gold and silver products based on your specific investment goals. They'll also advise you about the risks and benefits of general precious metals investment.
Once you set up your IRA, the second step is to choose which assets to purchase. Again, your Rosland Capital representative will help to walk you through this. They aren't the only company that helps with setting up a gold IRA like this, but they do have solid customer reviews.
Then you'll fund the account. This will involve transferring funds from your existing retirement account or savings. Most IRA rollovers do not come with personal penalties. Rosland Capital has offered in the past to cover the cost of early withdrawal when people choose to roll over annuities instead.
Is Rosland Capital a Scam?
This company is not a scam. Not only is the company not a scam, but they also have fairly good customer reviews. There are hundreds of reviews online, the vast majority of which give 5 out of 5 stars. The company appears to have a satisfaction rating of more than 95%, and whenever there are issues, they look for ways to resolve them.
Rosland Capital has an A+ rating with the Better Business Bureau, indicating that they have a high level of customer dedication and service. They have also been accredited since 2008, which means that they have approval as a legitimate business. Their customer satisfaction rating on the BBB website is 4.62 out of 5 stars with over 250 reviews.
That's a pretty good indicator that the company has solid services. If they were a scam, there would be far more negative feedback than positive. But there have been some complaints filed with the BBB.
In the past three years, there have been a total of 21 complaints filed against the business. Seven of those were filed in the past year. Let's take a look at some of what people had to say, as well as how the company responded to the complaints.
Any company will garner some negative feedback when they're as big as Rosland Capital. The most important thing is to see how they deal with this feedback. It's also important to see whether there are any patterns in the complaints, as this can point to issues with mismanagement.
While we can't examine every single complaint filed, we can look at a few of the more recent ones.
Of the filed complaints, four are related to advertising issues. Another six are related to problems with the delivery, and 11 are related to issues with the products or the services.
One complaint comes from a 92-year-old customer who says that he felt misled after making a purchase. He called the company to make a purchase of 1 ounce gold coins after seeing an advertisement on television. At the time, the company representative informed him that the cost would be the market sale price along with a 2.5% commission fee.
The customer agreed with the price and mailed a check to the company. But when the customer received the invoice for the transaction, it indicated that he had actually made a purchase of 1/4 ounce ingots instead. These ingots cost more per ounce than the initially agreed-upon transaction.
The customer requested that his son call the company and fix the issue. At first, the company said that they would resolve the problem without charging any additional cost. But they also said that the cost of the 1/4 ounce coins was directly tied to gold's spot price, so exchanging them wasn't necessary.
The customer's son said that the customer would really prefer to get the 1 ounce coins. Then he was told that there would be a delay of a few weeks while waiting for a transaction closure. The customer was contacted a few weeks later and told that he'd be receiving fewer coins than he'd paid for.
When the son once again contacted the company to solve the issue, he was told that the price of the 1/4 ounce coins had dropped by almost 50% since the initial purchase. But the spot price of gold had only lowered by 7%. In addition, the sales representative said that there would be a $100 charge and an additional commission fee to send the items back, even though they were supposed to be free of a commission.
The customer said that he understood that the sale price of gold had become lower since making his initial purchase. He wasn't having buyer's remorse. But he wanted to be refunded in full for the purchase because he believed that he had been misled, and now his account was being shown as worth 30% less than it was initially.
Rosland Capital responded to say that the customer had been contacted. The transaction had been reversed, and the full refund had been sent.
Some of this may have been a simple misunderstanding about the spread when buying and selling gold. It sounds like there was a lot of miscommunication throughout the process. It's good that Rosland Capital chose to process the refund instead of arguing semantics.
One customer left a complaint in March of 2022 regarding a transaction he'd had to buy several 1 ounce Maple Leaf gold coins. When he called on the phone, the customer representative said that he needed to mail a check in order to lock the price in. The price would be locked in when the check was received.
Upon receiving the check, the customer was told that he'd gotten lucky, since the price of gold had become lower on that same day. But the customer never received an invoice. When he called to ask about an invoice, he was emailed one. The price was much higher than he had expected.
He asked why the price was so high when he'd been told that the price of gold had become lower when the check was received. The representative said that the price of gold had become much higher later that day. The customer said that he still hadn't received a proper invoice in the mail or a delivery of the coins, and that he wouldn't sign for the delivery when it showed up.
In addition, the company offered a promotion to get a certain amount of precious metals for free if he spent a certain amount. But they said that his Maple Leaf order wasn't applicable, even though it met the appropriate pricing threshold.
The customer said that when he called to ask about a refund, the company representative just tried to sell him more coins.
Rosland Capital responded to say that they'd been in contact with the customer and had given him a full refund for his purchase. The customer confirmed that the transaction had been cancelled and that a full refund had been issued.
Spot Pricing Issues
Another customer left a complaint in March of 2022 stating that they rolled over an IRA using Rosland Capital's services because the spot price of gold and silver was very good at the time. But instead of being charged the spot price, the customer was charged over $100 per ounce.
But the customer stated that he had rolled his life savings into the company and had made an effort to talk to the compliance department. But every time he tried to get through, the messages would go to an answering machine. The company had never called back.
The customer said that he wanted to transfer his money back to his prior account holder.
Rosland Capital's representative responded with information about how the complaint had been filed with the BBB on the same day that the Compliance Department got back to the customer. The representative had talked to the customer about the account and discussed his concerns. They said that they consider this issue to be resolved.
Even though the customer never followed up to indicate whether or not he considers the issue resolved, that seems to indicate that there weren't any further problems.
This entire complaint may have been a matter of simple confusion. The spot price of silver and gold is the basic value that it sells for on the open exchange. But that doesn't take into account the markups and commissions that companies charge in order to make a living. There are other reviews stating that Rosland Capital has been extremely transparent about its commission fees, so this doesn't seem to be a case of deliberate misinformation so much as a misunderstanding.
There is one complaint from a customer who says that their traditional IRA was rolled into Rosland Capital. They wanted to take advantage of an advertisement that said that customers could get a bonus if they met a certain investment threshold.
The customer talked to the Rosland Capital representative multiple times at length about what they wanted. They chose to roll over their annuity, which caused an early penalty to be withdrawn. They were assured that Rosland Capital would reimburse them for the penalty.
During all of the conversations with the representative, the customer explained that they wanted to be given silver and gold bullion. But they said that they were sold overpriced coins that other collectors hadn't heard of. Despite making multiple calls to and from the representatives, the issue hadn't yet been settled.
The customer stated in the complaint that they then asked to be given a buyback price, but the quote that they were given was very low. So they asked what their account value was and how much more bullion would cost. The representative said that they'd call back, but they never did call back with an answer.
The customer said that the prices of the company's gold and silver were much higher than necessary. They also said that they believed they should be able to turn a profit since the price of gold had become much higher since making the transaction. Apparently the customer was told that their storage would cost $100 each year, but the actual cost turned out to be $400 each year.
When the customer talked to Equity Trust about the issues with the storage, they were told to contact the Rosland representative. But the Rosland representative said that they didn't know anything about the issue.
Rosland Capital responded to say that after a discussion of the purchases, the customer decided to sell the coins back to Rosland. Rosland promised that they would reimburse the penalty for early withdrawal, and that they would reimburse the annual IRA fees from the current custodian. The customer said that he would continue following up to find out about the buyback prices of the coins held with Rosland.
Pros & Cons of Rosland Capital
Overall, Rosland Capital is a legitimate and reputable company. They have received hundreds of positive reviews and are popular all over the country. However, their services might not be for everyone. There have been a handful of complaints about pricing, with people stating that they feel misled.
Many of the complaints have come from customers who switched their IRAs due to Rosland Capital's advertising campaigns. These customers said that they felt they had been misled about their overall investment value, and that the advertising campaigns didn't offer as much value as they'd hoped.
Still, the customer service has been praised, and Rosland Capital has made an effort to resolve any issues. They have even issued full refunds in situations where a full refund wouldn't be strictly necessary under their terms of service.
But there are a few IRA companies that outshine Rosland Capital in their services. They tend to be a little more streamlined and to have employees who respond more quickly to customer queries.
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We hope that we were able to help you determine where or where not to put your investment!