What is Capital Group American Funds? Today we shall take a look at this company as we seek to establish what it has to offer to you as an investor and whether it is one that you should consider working with to achieve your retirement investment objectives. Read on till the end to find out!
Name of the company: Capital Group American Funds
Official Website URL: https://www.capitalgroup.com/
Overall Rating: (3.7 / 5)
Table of Contents
- What is Capital Group American Funds?
- The Services offered by Capital Group
- How does Capital Group Work? (How to Get Started)
- Does Capital Group offer IRA services?
- Can you open a Precious Metal IRA with American IRA?
- Fees for the services offered by Capital Group?
- Is Capital Group Genuine or Is It a Scam?
- Pros and Cons
What is Capital Group American Funds?
Capital Group is a company (group of companies) that was founded in 1934 by Jonathan Bell Lovelace. Three years later, the then Los Angeles-based firm assumed the management of the Investment Company of America, which then became the American Funds family of mutual funds.
For more than 9 decades, Capital Group has been helping investors from various walks to gain control of their financial future. Its staff members always work under the instruction to stay true to the set core beliefs and remain committed to community and a defined investing system. Currently, Capital Group takes pride in being one of the largest investment management firms and is managing more than $2.2 trillion worth of assets for its customers.
The company’s operations are based on what is referred to as the Capital System, which is designed to create highly diversified portfolios which deliver consistent long-term results, efficient management, and continuity over a wide array of market conditions.
The Services offered by Capital Group
Capital Group offers a wide variety of services, all of which are aimed at enabling customers to secure their financial future. Today, you can reach out to the support staff at Capital Group if you need any of the following services:
- Investment options e.g. mutual funds, variable annuity & insurance solutions.
- Retirement accounts e.g. Traditional/ Roth IRAs, SIMPLE IRAs, SEP IRAs, 401(k) plans, and 403(b) plans.
- Mutual fund resources on returns, daily prices & yields, fund comparison fund prospectuses and reports, share classes and pricing
- CollegeAmerica 529 Plans
- ABLE Accounts
How does Capital Group Work? (How to Get Started)
Customers can invest in Capital Group (American Funds) through online brokers or by contacting a financial professional. If you do not have a financial professional, Capital Group can help you find one, so that you can begin investing as soon as possible.
If you are changing jobs or you’re getting to your retirement years, you have the option to roll over your funds from your employer-sponsored retirement plan into one of the types of IRAs offered by Capital Group, so that you can retain the tax advantages that come with the status of your savings. Working with Capital Group will also help you avoid potential penalties for early withdrawals, as you consolidate your retirement accounts.
Does Capital Group offer IRA services?
Yes. As we have already seen, Capital Group offers different types of IRAs, including traditional and Roth IRAs, SIMPLE IRAs, SEP IRAs, 401(k)s, and 403(b) plans. With these plans, you will need to know how much you are expected to contribute annually, based on Capital Group requirements for all participants. Different customers will end up contributing different amounts, based on their financial goals, and their age to retirement. You will need to talk about the details of your IRA plan with your financial professional so that you can know what you’re getting yourself into.
Important: Please make sure that you know exactly what fees are associated before you sign anything, I have seen so many reports online of people getting surprised with so-called hidden fees that they had no idea about until it was too late. Transparency is what you want to look for in this industry.
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Can you open a Precious Metal IRA with American IRA?
No. The type of IRA accounts that you can open with Capital Group only cater to the needs of investors who do not intend to hold alternative assets such as gold, cryptos, real estate, etc. Whereas this may be a preference for some investors, I would recommend that you check out all options with different companies, to ensure that you get the best deal.
Take all the time you need to explore the upsides and downsides of each investment option and make a decision that is in line with your objectives for your retirement years.
See my #1 recommended gold & silver IRA solution on this page
Fees for the services offered by Capital Group?
Capital Group does not explicitly state how much you will be charged for owning a certain type of IRA. They have, however, presented information on the amount of money that you will be contributing to your traditional and Roth IRAs. In 2021, this company expects the following contributions from individuals:
- You can contribute up to $6000
- Individuals aged over 50 contribute $6000 plus $1000.
- Couples who are making joint contributions can contribute $12000 (if they’re both aged over 50, they’ll contribute $14000).
- Individuals contribute up to $6000
- Those aged over 50 contribute $6000 plus $1000.
- Couples who intend to make joint contributions can contribute $12000 (if they’re both aged over 50, they’ll contribute $14000)
Is Capital Group Genuine or Is It a Scam?
Capital Group is a genuine company, in my opinion. It has been around for quite a long time, according to the information presented on its official website, and this would not have been the case if it were not a genuine company. unfortunately, I didn’t come across any customer reviews about it, to verify the nature of its service delivery. There were, however, some reviews on consumer trust sites, and none of the reviews point to Capital Group being one that is not legit.
The services offered by this company can enable investors who want to secure the financial aspect of their retirement years to do so through several options. You can, through your financial professional, get professional advice on how to invest with Capital Group. It would also be a great idea to consider other alternatives in the market so that you can ensure that your assets are safe even in the event of a global economic crisis.
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Pros and Cons
- Wide variety of investment options
- Experienced staff
- Sufficient educational resources
- Lack of customer reviews
Do You Own or represent Capital Group?
If you are a representative, or associate of Capital Group and have found something not to be correct in this review please, feel free to tell us 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 simply by sending us an e-mail to email@example.com.
Overall Rating: (3.7 / 5)
Capital Group has been around for several decades and has managed to establish several investment approaches that those who are going into their retirement years can rely on. Unfortunately, there are no customer reviews which we can turn to for insights on how well it has managed to deliver its stated services. That said, the fact that it has more than $2.2 worth of investors’ assets under management means that there’s a significant number of investors who have entrusted this company with their assets. Before you come across reviews about Capital Group that you can use as a point of reference to gain confidence with its service offerings, you can check out the recommended alternatives below:
Top-Rated Cryptocurrency IRA Companies (Good Options to Diversify Your Retirement Investment Portfolio)
That will be all for this review on what Capital Group is all about, and how you can benefit from it. If you have any questions about it or would you like to share your experience with it so far, kindly do so in the comments section. As always, don’t forget to also have a look at the recommended alternatives, just to see if you’ll get a better deal as you secure your nest egg for your retirement years.
I wish you well,
Eric, Investor and Team Member at Gold Retired!