What is Goldworth Financial? Is it existent? Can you turn to it for the services that it promises to offer? Welcome to today’s review in which we shall be analyzing what this company purports to deliver to its customers and whether it is actually doing what it promises. Let’s get into it right away.
Name of the company: Goldworth Financial
Official Website URL: https://www.goldworth.com/
Overall Rating: [N/A]
Recommended: Not recommended
Important to mention before we go into more details of this 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. The most common way people are getting scammed is through so-called “hidden fees” so please investigate thoroughly before you make your decision.
With that being said, let´s continue with the review on Goldworth Financial!
Table of Contents
- What is Goldworth Financial?
- The Service offered
- How does Goldworth Financial Work? (How to Get Started)
- Does Goldworth Financial offer IRA services?
- How can you open a Precious Metal IRA with Goldworth Financial?
- Payment methods accepted when paying for precious metals
- Does Goldworth Financial have minimums for purchase?
- Is Goldworth Financial Genuine or Is It a Scam?
- Pros and Cons
What is Goldworth Financial?
Goldworth Financial was established back in 1999, as a company that was meant to help its clients access precious metals from overseas markets at competitive prices. Customers who have tried to purchase precious metals from foreign companies have ended up paying a lot more due to the high foreign exchange rates. These, coupled up with markups, can dent the wallet of any buyer.
This is the reason Goldworth Financial was established- to help customers acquire precious metal assets without going through the hustles that most other people go through. Goldworth’s operations were structured in such a way customers could acquire the precious metals without having to open a foreign bank account.
N.B: Unfortunately, this company, which was formerly based in Woodland Hills, California, is no longer operational. We shall, however, proceed to have a look at what it was previously offering to its customers.
The Service offered
As we’ve already seen, Goldworth Financial was a company that was helping its customers access precious metals from foreign markets for the purpose of investment. As a customer, you could, through a defined number of steps, access gold, silver, and platinum products. There were several articles on the official website that were meant to educate customers on how to choose precious metals, as well as whether you should opt for bars or coins.
Beyond offering customers access to precious metals, Goldworth Financial also enabled customers to grow their nest of retirement investments by letting them open IRAs. This service enabled them to roll over their funds from pre-existing IRAs into precious metal IRAs, in a bid to secure their financial future.
Finally, this company offered insured storage to its customers through independent depositories. Customers who did not want to store their precious metals to be stored in depositories could request Goldworth financial to deliver their assets to a location of choice.
How does Goldworth Financial Work? (How to Get Started)
By the time this company was halting its operations, it had an official website. Customers wishing to get started with this company could source information on how to get started. On the home page, there were links to this company’s service offering that customers could click on to be redirected to the pages on which they could read about the services as they pay for them. Goldworth also had its contacts on the official website, which its customers could use to contact the support staff to get served.
Does Goldworth Financial offer IRA services?
Yes. This company had managed to define its capacity to offer IRA services. Customers could open gold IRAs with this company, to invest for their retirement years. Unfortunately, it was impossible for customers to open Crypto IRAs and Gold RRSPs (for Canadian clients). That said, however, the fact that this company had Gold IRAs was a big plus since it gave its customers the opportunity to secure their future financially by purchasing IRS-approved precious metals.
Setting up an IRA account with Goldworth Financial cost its customers some charges that were common across the board. As an IRA owner, you could expect to pay the following fees and charges:
- Set up fees – $140 -$290
- Admin fees (annually) -$75-$275 (scaled)
- Storage fees (annually) – 0.6% of the value of precious metals (scaled)
The fees that its customers paid were to a great extent dependent on the preferred custodian and depository whose services they opted to rely on. Goldworth Financial, however, had its list of preferred custodians and depository, which were:
- Preferred depository – First State Depository (FSD)
- Preferred Custodian – (Equity Institutional, Equity Trust, Entrust, Sterling Trust, New Direction IRA)
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.
**My #1 recommended gold & silver IRA company is 100% transparent + they got a few other benefits you might want to have a look at if you are interested in a new IRA, see this page
How can you open a Precious Metal IRA with Goldworth Financial?
Opening a precious metal IRA with Goldworth Financial was simplified enough so that anyone with enough computer literacy skills could get started quite easily. On the home page, there was a link to information about this company’s precious metal IRAs. Clicking on the link would redirect them to a page on which they could find a 3 step process for setting up accounts, by choosing one of Goldworth’s preferred custodian. Navigation around the Goldworth Financial website was quite straightforward, and most resources could be accessed from the homepage. With the user-friendly website, it was easy for customers to get what they needed to ensure that they successfully opened a Gold IRA, and purchased various precious metals.
See my #1 recommended gold & silver IRA solution on this page
Payment methods accepted when paying for precious metals
There’s no information on the payment methods allowed by Goldworth Financial. By looking at its preferred custodians, however, you can tell that they accept payments made via ACH and checks (through edeposits).
Does Goldworth Financial have minimums for purchase?
Minimum purchase requirements are at times required by IRA service providers, in order for their overall operations to remain profitable and to make business sense. Whereas doing this does not affect those who make large purchases (at least not to a great extent), it can potentially lock out those who want to test the waters, or who do not have a large amount of money to deposit. With Goldworth Financial, for instance, customers were required to make a minimum purchase of $5000 to $10000 depending on the custodian.
Does Goldworth Financial buy precious metals from individual sellers?
There is no information about whether this company could buy precious metals from individual sellers. The fact that its services mainly gravitated towards precious metal IRA customers means that it is highly likely they could purchase the customers’ assets at the maturation date. This happens with many IRA service providers, but they are required by the IRS to make it clear to its customers that repurchases are not guaranteed. Unfortunately, this company has already closed down business so it’s hard to determine whether Goldworth Financial could buy back precious metals from various sellers.
Is Goldworth Financial Genuine or Is It a Scam?
Goldworth Financial is a genuine company that went out of business. It’s good to know that this company is no longer operational since scammers can bank on unsuspecting customers to con them of their hard-earned money. That said, it’s worth noting that this company has an AAA rating on Business Consumer Alliance, a highly trusted consumer trust site. The fact that it’s impossible to access Goldworth Financial’s official website means that there’s barely any hope that it will resume its operations in the future.
**Have a look at how these top-rated alternatives to Goldworth Financial that offers precious metals IRA Services are matching up
Pros and Cons
- Worked with reliable custodians
- Excellent ratings on consumer trust sites.
- No longer operational/in business
Do You Own or represent Goldworth Financial?
If you are a representative, or associate of Goldworth Financial 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 firstname.lastname@example.org.
Verdict: Legit (But no longer in business)
Overall Rating: [N/A]
Goldworth Financial seems to be one that was doing well before it went out of business. I think it was one that I’d have recommended that you try out, owing to its impressive ratings on consumer trust sites. Unfortunately, you’ll only get a blank screen if you try to access this company’s official website. I’d therefore recommend that you have a look at this company’s alternatives in the precious metal IRA industry instead.
Thank you for making it to the end of this review about what Goldworth Financial is about. Hopefully, you’ve picked all the information that you needed about this company. If you haven’t found a reliable precious metal IRA to work with, let me know so that I can point you in the direction of some companies that I perceive as reliable (with the highest ratings in the industry).
I wish you well,
Eric, Investor and Team Member at Gold Retired!