This is a short review of Miles Franklin Ltd. What is Miles Franklin Ltd? What can you expect from this company? Is gold really a good option? Keep reading and you’ll find out!
Product: Precious Metals
Owner: Andy Schectman (President and owner) and David Schectman (CEO)
Price: Depends on what you are buying.
Who is it for: Precious metals collectors.
Overall rating: (2 / 5)
Important to mention before we continue with the review:
We always strongly recommend doing your research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed, especially when it comes to so-called “hidden fees”. So please investigate thoroughly before you make your decision.
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With that being said, let’s continue with the review!
What is Miles Franklin Ltd – Overview
Miles Franklin was founded by David Schectman and Andrew Schectman in 1990. It is a father and son business and is now being led by David’s son, Andrew. It is the largest precious metals dealer in Minnesota and they claim to have 4962 active clients. The headquarters are located in Wayzata, MN and they run their business mostly over the phone and online.
How does it work?
By contacting them either on the phone or by email. They will take it from there to help you out with your inquiries.
The products and services offered
Coins and bars;
- Numismatic gold
Miles Franklin Ltd. is not an official IRA custodian but they have partnered up with New Direction IRA to provide their customers with establishing an IRA account.
This suits people who are looking to:
- Move funds from existing retirement accounts
- Make contributions/deposits or rollovers online
- Set up insured storage at a precious metals depository
- Buy or Sell Precious Metals within your self-directed IRA
What about the fees?
I couldn’t find any info about the fees but since they are not a true cold custodian it depends on which IRA custodians you choose to work with. Remember that each custodian has its own yearly fee arrangement to reconsider.
How is the support?
Miles Franklin offers support through phone or email. There is a couple of precious metals specialist that you can contact by mail if you have any questions. There is also a blog on the website that is updated regularly with precious metals topics.
Are there any red flags?
You should always review and compare different investment companies against each other before you make a final decision.
Below I have listed the most trusted and well-known review and rating sites online to see what score they have given Miles Franklin Ltd. as this is a good indication of how good the particular company performs and treat their clients:
Score: Not listed.
Score: Not listed.
Score: (5 / 5) (2 reviews)
Score: Not Listed.
Is Miles Franklin Ltd A Scam?
No, it is not a scam. Miles Franklin has over 25 years of history in the business and is an established organization that seems to be doing good.
Are there better alternatives out there?
YES! There are a few ones I would consider better alternatives, I got many of them listed on this site, but the absolute best one I can recommend is; Augusta Precious Metals.
Click here to check out my review of Augusta Precious Metals instead!
- Updated blog on the website.
- Not a lot of company reviews online.
Final words and verdict
Miles Franklin is a good choice if you are a collector looking to buy some extra coins or bars. If you already have your own secure storage to store your precious metals in Miles Franklin can probably help you find some good products to fill out your collection.
The fact that they are not a true gold custodian brings down the overall rating since my opinion is that you should have one go-to company that can fit all your needs. The lack of customer reviews online makes it harder to evaluate the company as well. This company suits people who are looking to expand their already existing portfolio. If you are a first-time buyer this company is not the right choice for you!
There is one company that I have found yet that I can truly recommend that has;
the good customer service,
the good reviews,
the high-quality products,
pretty much everything a gold custodian should have and you can find it in the link below!
Overall rating: (2 / 5)
What company do I recommend?
If you want to protect and secure your retirement savings in 2023 GOLD is the way to go. There are a lot of companies out there that offer great services but at the end of the day, you have to be able to choose a custodian that you trust.
The absolute best one I can recommend is the fastest growing gold IRA provider in the USA right now and it is a very popular alternative among real investors!
KEEP READING TO FIND OUT WHICH COMPANY I RECOMMEND!
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I hope you found this review on what Miles Franklin Ltd. is to be helpful and that you found it interesting. Please, make sure to share your experience with us if you have any in the comment section below as it can help others. Also, if you have any questions about this review we will be more than happy to answer them below!
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I wish you the best life has to offer!
Writer and team member of Gold Retired.