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Years in Business | 14 |
Minimum IRA Investment | $10,000 |
Fees | Most customers qualify for no fees |
Services Offered |
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Suitable for | Customers looking for investment guidance from gold educators |
Online Experience |
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Red Rock Secured is a precious metals IRA company based in El Segundo, California. The company has been in business since 2009 and has earned an A+ rating with the Better Business Bureau. It also has a 4.8-star rating on Trustpilot and has been featured in Fortune magazine.
Red Rock Secured makes it simple to invest in gold, silver, platinum, and palladium through either a cash purchase or establishing a precious metals IRA. Investors can transfer funds from an existing retirement account with no penalties or open a Roth IRA to invest post-tax income. Red Rock Secured ships your metals to a secured depository institution or can deliver them to you. There’s a low minimum investment of $10,000 to open an account, but you must have a one-on-one consultation with a representative to open an account and get details about pricing for your account. Red Rock also specializes in high net-worth clients.
Red Rock Secured stands out among precious metals IRA companies by offering support every step along the way from educators specializing in gold investment. When you invest at least $10,000 in your IRA, the company will waive all custodian and storage fees for a year. That means that after you initially purchase your metals, there is no cost to holding them in a secure depository. While other companies may reduce fees for high net worth individuals, Red Rock Secured eliminates them entirely.
Another reason to consider Red Rock Secured is that the company offers both traditional and Roth IRAs. A precious metals Roth IRA can be used to roll over funds from an existing Roth IRA or to transfer post-tax income from an existing non-retirement portfolio. Rollovers at Red Rock Secured have no fees and are conducted to avoid tax penalties.
One thing I like about Red Rock Secured is that you don’t have to be an expert in precious metals to start investing with this company. Red Rock Secured requires every new customer to go through a one-on-one consultation so you can decide if precious metals make sense for your portfolios and understand the company’s different metal products. In addition, the Red Rock Secured website has very detailed resources for new investors to learn about precious metals.
The first type of fee that Red Rock Secured charges is a markup on their cost of gold and other metal products. For example, if gold is trading on global markets at $1,800 per ounce, you may pay $1,850 to buy gold at Red Rock Secured.
This type of markup is common among precious metals brokers and it is often not possible for individuals to buy gold at the spot price you see in market quotes. The amount of the markup at Red Rock Secured will depend on the specific metal products you’re purchasing, the current prices of each metal, and how much you’re investing.
There are also custodian and storage fees, which vary based on how much you have invested. Red Rock Secured waives all custodian and storage fees for customers who invest at least $200,000 in their IRA.
To open a precious metal IRA with Red Rock Secured, you need to contact the company’s support team by phone for a consultation. You can also request a call using a form on the company’s website. I contacted Red Rock Secured and got in touch in less than a minute.
During this consultation, the representative will ask you about your retirement portfolio, including what you’re currently invested in and how much money you would like to invest in precious metals. Keep in mind that agents at Red Rock Secured are not financial advisors.
The representative will also go over Red Rock Secured’s available metal products and recommend a mix of metals based on your financial goals. The company currently offers 25 gold coins and bullion products, 27 silver coins and bullion products, four platinum coins and bullion products, and one palladium bullion product.
If you proceed with opening an account, Red Rock Secured will walk you through the process of rolling over funds from an existing retirement plan. You can transfer funds penalty-free from an IRA or 401(k). You can also open a Roth IRA to transfer post-tax income.
You have several options for storing your metals. Red Rock Secured’s preferred depository is the Delaware Depository. The company also works with numerous Brinks depositories around the US. Metals stored in any of these facilities are insured by Lloyds of London against loss or damage.
You can also choose to have your metals delivered to your home. To qualify as an IRA investment though, metals must be stored in a bank safety deposit box or equivalent. Metals stored with your own custodian do not have any storage fees, but they also are not covered by Red Rock Secured’s insurance policy.
Red Rock Secured offers customer support by phone and email from 9am-5pm (PT) Monday-Friday. I called and was connected with a helpful representative in less than a minute.
The Red Rock Secured website also has a wealth of resources for new precious metal investors. You can find information about the available coins and bullion products, a roundup of important market news, and real-time charts of gold and silver prices.
Phone number: (844) 450-1381
Phone call hours: 8am-5pm (PT) Monday-Friday
Does Red Rock Secured charge storage fees?
Red Rock Secured does charge storage fees if you choose to store your precious metals in one of the company’s partner depositories. However, storage fees are waived if you invest $200,000 or more in your IRA. You can also choose to have your precious metals delivered to your home and store them yourself.
How long has Red Rock Secured been in business?
Red Rock Secured was founded in 2010 in El Segundo, California. The company has been in business for 14 years and holds an A+ rating with the Better Business Bureau.
Red Rock Secured offers precious metal IRAs that make it simple to invest in gold, silver, platinum, and palladium for your retirement. There are no penalties or rollover fees when you transfer funds from an existing retirement account.
Red Rock Secured has a low minimum investment requirement and you can qualify for zero custodial and storage fees for the first year when you invest more than $10,000. So I find this company to be a great choice for high net worth investors who want to invest in precious metals as part of their retirement portfolio.
This review is based on information on the Red Rock Secured website and direct discussions with the company’s service team.
