Today we take a look at Broad Financial for you. What is Broad Financial? A scam or a legit investment company for you? Are there better alternatives out there? These are some of the main questions this short review will focus on. Ok, here we go!
Company: Broad Financial
Owner: Brian Finkelstein, Mervyn Klein and Daniel Gleich
Price: Depends on your investment amount
Who is it for? Mainly retirees looking to invest
Overall rating: (4 / 5)
Important to mention (before we go into more details of this review)
We strongly recommend researching online before choosing a company to invest in. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly and compare different alternatives before you make your decision.
One example: 99.9% of companies got “pushy” salespeople trying to stress you into acting fast.
Here is the thing, the #1 Recommended Gold & Silver IRA Dealer on our top-5 list got No-salesy representatives… So they won´t bother or terrorize you with phone calls.
You are a smart person, so I am sure that you understand the benefits of dealing with such a company instead, right?
+They got a couple more benefits you might appreciate as much as I do. You will understand yourself once you have visited the page (link) above.
==> See our Top-5 List of Precious Metals IRA Companies on this page <==
With that being said, let´s continue with the review on Broad Financial!
What is Broad Financial about?
Broad Financial was founded in October 2004 as a private real estate firm focusing on the development of residential, retail, and industrial real estate along the East Coast.
Over the years, it has developed into more than just real estate and offers more investment options for its clients.
The physical address of the company is: 21 Robert Pitt Dr #202, Monsey, NY 10952, USA
How does it work?
The company is, in short, plain and simple, mainly an IRA custodian that offers a wide range of different assets to invest in, precious metals included.
What makes Broad Financial stand out a bit from its peers is that they offer bitcoins as an asset for you to invest in.
The Products and Services
Gives you the option to write a check that allows you to direct your solo 401(k) or IRA into almost any asset.
This service allows clients to invest their funds in real estate, tax liens, personal loans, and foreclosures. This is good as it doesn’t tie you to just one possibility to maximize your profits.
Rollover of funds
Yes, IRAs are offered. It is one of the main services of the company. Below you got the fees associated with setting up an IRA with Broad Financial:
Important to mention here: What is interesting here is that the annual storage fee is pretty low (compared to many of its peers). That is, of course, a good thing.
However, it is also important to mention that other companies also got low fees (around $100 per year storage fee) and even waived the fee for your first three years.
Can you get the gold (and other metals) delivered to your home?
This isn´t mentioned on their website, so you can (most likely) assume that it is not an option. It is also not allowed to store IRA gold at home, so it wouldn´t be interesting anyway as BF do not offer direct purchaces of precious metals anyway.
Can you store your investment with the company?
The company (BF) offers you storage through their third-party partner, the well-known Delaware Depository.
Can you sell back to the company?
Once again, this is not mentioned on their website. A qualified guess would be that you can not do that as many similar companies take pride in “announcing” such a function on their website.
**You get a “highest price buy back guarantee” with this company
Can anybody in any country use the service?
No, the services are for citizens living in the U.S. only.
Is Broad Financial a scam?
So, is Broad Financial a scam? No, it is not a scam. It is a legit company, of course. It would never have survived this long (founded 2004) if it wasn´t, right?
However, if they are your best alternative out there is another story, and that leads us to the research of their ratings and reviews from their customers:
Reviews on Broad Financial:
Here is a list of reviews and complaints found on the most trusted and well-known independent 3rd party consumer protection agencies:
BBB (Better Business Bureau)
Rating: (3.7 / 5) (from 1 review) click here for details (opens in new window)
BCA (Business Consumer Alliance)
Rating: Not listed
Rating: Not listed
Raing: (4.5 / 5) (from 25 reviews) click here for details (opens in new window)
Are there any red flags?
As you can see above, there is not much to be found from BBB, BCA and Trustlink. At the moment there is also only 1 single review on Trustpilot, and it was not a super positive one, and then 25 from Yelp, those were also the best ones. I would say that the overall score from the reviews and ratings online are pretty average, or even below due to the lack of them. So, what´s going on with Broad Financial reviews, they are not that many, especially not for a company that has been around since 2004.
It is also important to mention some pretty negative reviews from real users online. Below are a screenshots of one of the worst I found:
Important to mention here: Even if (as you can see) there are some pretty serious complaints about the company, it is also important to mention that most reviews are positive. If a company is active for, let´s say, 10-20 years, it would almost be strange if there were no complaints at all, right?
However, when the complaints start to be a bit more than “just a few,” you should start to worry.
You need to know that similar companies have just as high (and even higher) overall scores with THOUSANDS of reviews!
How´s the Broad Financial support then?
One thing I always put a lot of weight on when it comes to the quality of the support of a company is if they got a live chat function or not. BF does not have this, which slightly down the overall support score.
A company of this size should, at least in my book, have a live chat function for its clients and visitors to be able to ask questions directly.
They do offer the “ordinary” e-mail address and phone number for you to be able to contact them with.
PROs & CONs of Broad Financial?
It is always good to compare the positive sides of a company with its negative sides before you make a decision. Below I have highlighted some main points on each spectrum for you.
- Offers a wide range of different types of Self Directed IRAs.
- Offers many different alternative assets, including bitcoin, tax liens, private business, real estate, gold, silver, etc.
- An attractive choice in terms of price.
- There is no mention of any other cryptocurrency options on their company website except bitcoin.
- They offer a flat fee. However, their Bitcoin IRA charges are still not transparent.
- The website lacks support and some info
- Got some negative reviews and complaints online
Do You Own or Represent Broad Financial?
If you are a representative or associate of Broad Financial and have found something not to be correct in this review, please, feel free to tell, and I will make sure to update the info on this post. The easiest way to do it is in the comment section below, or by simply sending an e-mail to: email@example.com
Final Words and Verdict on Broad Financial
Overall rating: (3.5 / 5)
Ok, I think that sums the overall picture up pretty well. This is without a doubt a legit company and also among the most trusted ones. The rating 3.5 out of 5 feels very fair for now. This can change to a higher or a lower one in the future as we make sure to update reviews made on this site if something “new” comes up.
You are a smart person, so I am absolutely sure that you will find the right company to do business with. You have made a wise choice reading this review as it is always recommended to research and compare many companies against each other before you decide.
As always, the choice is up to you.
Which Company Do We Recommend?
If you are looking for a reputable gold IRA custodian besides any other company, you should check out Augusta Precious Metals.
Augusta Precious Metals has ZERO complaints from A LOT of real users. Used by celebrities, respected by well-known publications and websites.
And A LOT more benefits!
I hope you found this short Broad Financial review to be helpful, and now you should have a better understanding of what it is and if it is something for you or not. If you have used any of their services, please share your experience with us in the comment section below, as it can help others. Also, if you got any questions on this review, I will be more than happy to answer them below!
I wish you the best!
Founder of: Gold Retired