Today we take a look at IRA Financial Group for you. What is IRA Financial Group? A scam or a legit company? Will it be the one for you, or are there better alternatives? These are some of the main questions this short review will focus on. Ok, here we go!
Company: IRA Financial Group
Owner: “Partner owned” by a group of tax attorneys
Price: Depends on your investment amount
Who is it for? Investors
Overall rating: (3 / 5)
Important to mention (before we go into more details of this review)
We strongly recommend doing your research 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 IRA Financial Group!
What is IRA Financial Group about?
IRA Financial Group was founded in 2010 by a group of tax attorneys. With around $4,9 Billion in retirements funds under administration, you can say that IRA Financial Group has developed to be one of the leading in the industry.
The physical address of the company is: 1688 Meridian Ave #504, Miami Beach, FL 33139, USA
How does it work?
It is an IRA (and 401(k) custodian that offer its different client assets such as gold and real estate to invest in.
The Products and services offered.
Below you have a list of the products and services that IRA Financial Group offers to its clients.
- Self-directed IRA’s
- Solo 401(k)
- Self-Directed Roth IRA
**See my #1 recommended IRA solution on this page
Yes, IRAs are offered (read above). It is the company’s main service.
IRA Financial Group Fees?
Normally this is the section where I put a screenshot (of the particular custodian) on their yearly IRA storage fees. However, IRA Financial Group Fees are nowhere on their website…
This is something that (in my humble opinion) doesn´t feel good as transparency is what you should want from a company if you are planning to trust them with your money.
***Click here to read about my #1 recommendation (if you are looking for Gold or Silver IRAs)
Can you get the gold (and other metals) delivered to your home?
Once again, this is not mentioned on their website, so I will assume that it is not an option as its peers take pride in mentioning a function like that when they got it.
Can you store your investment with the company?
Once again, the website is lacking in info. This is nowhere to be found on their website. However, it is not a wild guess to assume that they offer at least a third-party partner depository for you… The question is, what fees are associated with that?
Can you sell back to the company?
Once again, this is not mentioned on their website.
Can anybody in any country use the service?
No, the services are for citizens living in the U.S.
Is IRA Financial Group a scam?
So, is IRA Financial Group a scam? No, it is not a scam. It is a legit company. It would never have survived this long (founded 2010) if it wasn´t.
IRA Financial Group Complaints and reviews from real users:
So, do IRA Financial Group got Complaints online that you should be aware of? Below I have listed the score and ratings on the company from some of the most trusted and well-known review and rating sites online:
BBB (better business bureau): A+ rating
Overall score: (4.6 / 5) (out of 10 reviews) click here for details (opens in new window)
Overall score: (4.2 / 5) (out of 6 reviews) click here for details (opens in new window)
Overall score: N/A
Overall score: N/A
Overall score: N/A
Overall score: 3 reviews and one complaint.
Learn about the #1 rated IRA custodian instead! (recommended by most independent 3rd party consumer protection agencies in the industry)
Any red flags?
Well, you can see above that the overall score is pretty high… However, you can also see that they are VERY few.
That is strange (at least I think so) as they have been in business for more than ten years, and you can´t even find more than 30 reviews??
What is going on?
Important to mention:
Even if most of the reviews (around 30 online) are positive, I found pretty negative ones. Below are the exact words from a former client of IRA Financial Group:
I was starting my initial research on self-directed IRAs and came across IRA Financial Group from another website. I called them up because I still had questions about their service that their poor website did not answer. When I called, Fred H. picked up the phone. I introduced myself and told him that I was starting the process of researching self-directed IRA companies but that I had a few questions. I think he said something while I was talking, so I said, “Excuse me.” He said, “No go ahead.” Then, I asked, “How long have you been in business?” He said, “Several years.” I said, “Is there a number to go along with a number of years?” Then, he said, “Thanks for calling,” and HUNG UP on me. WTF? Did he think I wasn’t serious and that I was calling him just for it? Uh, yeah, Fred, I like to call people and waste their time because I like to waste my time. Seriously?
I don’t know if this is Fred’s way and/or IRA Financial Group’s way of treating potential clients, but you can bet in the competitive field of self-directed IRAs that these guys are not one of the big players. Their whole schtick is that they were founded by top tax and ERISA attorneys. Big whoop. I spoke to 4 other self-directed IRA companies (who gladly answered my questions), and they have top tax and ERISA attorneys in-house. Top attorneys may have founded IRA Financial Group, but they SUCK at customer service.
Don’t even waste your time calling them!! You might just get hung up on simply for asking a question!! They obviously don’t want new business!
***If you want to read this review on the original website (rip off report), click here (opens in new window)
How´s the support?
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 on their website. IRA Financial Group does not have this. That takes the score down a bit (at least in my book)
What support options do you have then? You got e-mail support and a phone nr to call with your questions.
Why Should You (Or Should NOT) go with IRA Financial Group?
It is always recommended to compare the pros with the cons of a company to get a better overall picture.
Below I have highlighted some key points that might make it easier.
- $4,9 Billion under administration and over 15,500 clients
- Ability to invest in many different assets such as gold, real estate (domestic and foreign), tax liens, other precious metals, peer-to-peer lending, stocks, etc
- Lack of info on the website regarding fees, support, etc
- Lack of reviews from real users
- Lack of transparency on their site when it comes to fees
Do You Own or Represent IRA Financial Group?
If you are a representative or associate of IRA Financial Group 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 else you can send an e-mail to firstname.lastname@example.org.
Final Words and Verdict on IRA Financial Group
Overall rating: (3 / 5)
Ok, that sums the overall picture up pretty well. This is a legit company. However, I am not very impressed with a company of its size. For example, many of its peers are completely transparent regarding yearly storage fees. Also, more than 20 others (of its peers) got way more reviews and a better overall score.
You have made a smart choice reading this review as it is always recommended that you research and compare many different companies before you choose.
I hope this review has made it easier for you. As always, it is up to you.
Which Company Do You 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. They are used by celebrities respected by well-known publications and websites.
And A LOT more benefits!
==> Click here to learn more about Augusta Precious Metals (my #1 recommendation) <==
I hope you found this short review on IRA Financial Group to be helpful, and now you should have a better understanding of what it is and if it will be something for you or not. If you have used any of their services, please share your experience in the comment section below to help others. Also, if you got any questions on this review, I will be more than happy to answer them below!
I wish you success!
Founder of: Gold Retired
Erick Saltos says
Hey John, thank you for writing this review about this company. I heard about this company couple of years ago but never pay any attention to it. I personally lost almost 25K in investing but I would highly recommend this page to my friends that search for good investing opportunities to take a look at Regal Assets because it seems like the real deal. Once again thank you for this vital information.
Tracey Thiele says
IRA Finanical is administrator for Self-Directed IRAs and 401Ks. They do not own anything or sell anything. They help people and small businesses set up their own retirement plans. The people and small businesses manage their own plans. The annual fee is $200. Again, they do not buy anything or sell anything. They just give advice. They produce webinars and write articles on how to invest your retirement money and not get into trouble with the IRS. They have been our Solo-401K retirement administrator for over 8 years. They are a great company and I highly recommend them if you want full control over your retirement account and how to invest it.
Thank you for your comment and insights,
happy to hear you are happy with their service,
Erick Saltos says
Hi John, I wanted to say thank you for posting this review, as I myself heard this company couple of years ago but never pay attention to it. Now that I see your review makes me wonder how many companies out there are the real deal and how many of them are actually doing something positive for their clients. Regal Assets’ Review seem to me like the real deal specially because they have no complaints and is used for many people and also celebrities. I will make sure I tell my friends about this site so they can gain more knowledge about investing in this type of opportunities.
Thank you! Glad you liked the review and found it helpful.
Yes, RA is the real deal, here you can request your FREE kit and read more about it: https://startmakestopwaste.com…
/All the best
Nate Kidd says
Thanks for this review. I do not believe IRA Financial Group is a scam but there are a lot of red flags that I do not like.
The most important thing to me when choosing an investment firm of any kind is their transparency. This company seems to be lacking in that area.
The negative review also is an eye opener and is concerning. I think the overall score you gave them was fair.
Thanks for sharing.
Thank you! Glad you liked the review!
Thanks for posting this review, I think its really important to help people protect their hard earned money, especially from scams like this.
It’s interesting that I have heard of this company, but I choose to invest on my own thankfully.
Would you ever recommend someone like me switch from investing on my own to a financial group such as the one you recommended?
Thank you! Happy to hear you liked the review and found it interesting.
Yes, I would highly recommend you to look at this review and claim your FREE gift they offer: https://startmakestopwaste.com…
/All the best
Harald Tjorhom says
I just contacted IRA Financial Group and was very happy with the response.
I believe that the fee schedule is missing since it is different based on the state you are in, and might be changing continuously based on new laws in each state. This would be due to the price of setting up an LLC in your state.
Thank you for clearing it up, am sure people will find your comment helpful,
thanks again for your comment,
Mark R. says
I just spoke with Billy Mitchum of IRA Financial group and he was very informative. Their fee is $1250 for the initial set up of the IRA LLC (reasonable for any LLC set up) and then $180 per year to administer the account. Not sure if Northern Trust (the actual custodian) has any fees on top of this.
First of all, thank you for your comment Mark.
Yes, that is a good question and something that you need to look at before you decide on making any business with a particular company. Please feel free to come back here and tell us what you find out.
Thank you again for commenting here, it is appreciated.
/All the best
Thank you for all the information.
Which category does “ROBS”(Rollover Business Startup) fall in among these three:
Self-Directed Roth IRA
Do you have a recommended company for ROBS?
I saw Google reviews for “Benetrends Financial” is very good but why I could not find it on this website?
Thank you, glad you found the review helpful,
interesting question you got there, have to look into this a bit more when I get the chance, took a quick look at their website and it looks like they are a good company in that particular area.
Will write a review on them as soon as I get the time for it,
thanks again for your comment.
Mark Nelson says
Hi, I’m just doing some research on “checkbook” self directed IRA services. What I found is that the IRA Financial Group is the business part that sets up the LLC. If you go to the website irafinancialtrust.com, all of the info you were looking for is there on their “forms” tab. I noticed on the IRA financial group website, the site look is pretty much the same. Except that the “forms” tab is missing on the financial group website. Interesting.
thank you for leaving your discoveries on this,
/All the best