Bear Lake Gold has carried out this Red Rock Secured review to provide our professional views on the precious metals company, its costs and fees, and its products and services. As part of the major aspects of this review, we will provide accurate information about the company's bullion, coins, and precious metals IRA offerings.
We conducted this review using our standard review methodology. As a vital part of all our review procedures, we talked with clients from the United States who have done business with Red Rock Secured and some employees in the company. We couldn't meet their leadership team because the company did not provide details about its leadership team. In our opinion, this lack of transparency about their management team is already a red flag for a company that claims to be reputable.
Moreover, the responses from these clients and the employees were not convincing enough to make us list the company as one of our first three recommended precious metals IRA companies.
In 2021, the United States recorded that over 15 million people above 65 years were living below the poverty line. To a large extent, the number keeps increasing because of diminished savings, either from inflation rates or lack of investments.
To prevent yourself from living below the line after retirement, you must invest in investment pots that shield your savings from inflation effects. These investments are in low risks and less volatile markets. One of those proven pots is in the precious metals and gold IRA industry.
Precious metals investments through precious metals IRA is one of the proven tax-efficient methods of protecting your income and savings from the effects of inflation.
After reading this review, you should be able to decide which option is best for your investment needs,
Please click the button(s) below to get the full investment guides and information from our top-rated three precious metal and IRA companies.
Best Overall Precious Metal Provider
Best Gold IRA Based On Price
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Red Rock Secured is a popular Precious Metals IRA company in the precious metals industry. The company was founded in 2009 and is currently situated in El Segundo, California. When we asked one of the employees about the company's goal, she said it aims "to protect its clients' retirement through education, offering premium and secure products, and providing excellent customer service."
Unlike other companies in the precious metals industry, Red Rock Secured sells only precious metals that are IRA eligible. It offers its clients popular IRA-approved coins in these categories; gold, silver, palladium, and platinum. It is also popular in the precious metals industry for offering its clients relevant investment education to help them make the right investment decisions.
On the company's website, there are various investment resources that the company has made available to customers. By reading the company's website materials, customers will get sufficient information on topics ranging from precious metals investments to the trends in the precious metals IRA investment market. In addition to this resource section, the company has a chart on its website. This section shows Gold Trends, Customer Spending, Stock Market Trends, and Gold Demand and Supply charts.
The company, on its website, needs to be more transparent about its management team members. It did not provide any details about them. However, their LinkedIn profile says the company's CEO is Sean Kelly. When we asked the team member we talked with about this lack of transparency, we did not get any answer other than "it is the company's policy."
The company's primary focus is to offer precious metals IRA services to its customers. This focus drives it to provide only IRA-approved precious metals for its customers. As long as their customers have precious metals IRAs, they can hold the coins there. For this reason, the company does not have a wide range of precious metals and needs more products. However, they have IRA-eligible precious metals in these categories.
It is also vital to note that the company is not transparent with the prices of its precious metals. It does not display product prices on its website. This issue is a red flag, just like the lack of transparency with their management team members. Indeed, we have yet to get a satisfactory response about why they decided to keep their prices hidden when we asked the team member we talked with. However, from our past experiences, companies function this way when they want to take more money from clients via hidden fees.
Some of the IRA-approved coins offered by Red Rock Secured are;
If interested, you can buy "junk" silver from the company. These coins are United States coins with 90% silver components. They are the best fractional silver alternatives.
Red Rock Secured
Storage Vault Partner
Available Precious Metals
Gold, Silver, Palladium, and Platinum IRA eligible coins.
Longevity in Business
Founded in 2009 (12 Years).
As mentioned in the previous section, the company does not display products and other related fees on its website. When we asked the team member if the company gives its clients any investment incentive, she told us that most of the company's clients get a "no fee for life" incentive. However, we were not told what the clients did to qualify for this offer.
Customers who want to invest in precious metals IRAs through the company can only invest a minimum of $1,500. Red Rock is an IRA-eligible coin wholesaler, so customers can buy at wholesale prices and save costs.
Like most companies in the industry, customers pay precious metals IRA custodial and storage fees. However, the fees are not constant. They vary based on the storage company's service customers opt for. When we asked some customers with precious metals IRA investments in the company, we discovered that customers pay between $125 to $300 for storage yearly.
Red Rock Secured focuses on providing its clients with precious metals IRA offers. You can buy IRS-approved IRA precious metals with the money in your regular IRA from the company. In this manner, your wealth will keep growing ahead of retirement. However, you must follow some IRS rules and regulations to make this purchase. One of them is that you must store your IRA precious metals in a storage facility approved by the United States IRS.
These procedures can be very tiring if you are a new investor. It takes work to decide which IRA custodian and storage facility to use for your IRA investments. Moreover, finding the perfect broker to represent you can become very challenging. Similarly, you might face difficulties setting up your IRAs, carrying out an IRA rollover, or transferring funds to your precious metals IRA.
Red Rock, as a precious metals IRA firm, has a customer support team that assists new investors like you through all these processes. When you go to the company's website, you will only see a little information about how to set up your IRA, choose a custodian and storage facility, perform an IRA rollover, or fund an IRA account. When we contacted one of their customer support team members, he told us that the reason is that they love to speak with new investors in person while helping them through these processes.
The company has licensed custodial partners. In creating your account, they can also help you roll over your 401(k) if you wish. Alternatively, they can help you transfer your funds from your regular retirement accounts to your precious metals IRA for purchases.
However, another red flag we saw with this company as we interacted with them is their stance on stock investments. They believe that stocks are uncertain paper assets. While they may be correct about what they think about stocks to some extent, it is not right to condemn the investment. The truth is that they talk this way because they want to encourage new investors to invest in precious metals rather than stocks. On the contrary, some financial experts believe you should store just a certain percentage of your income in precious metals to hedge against the effects of inflation.
Immediately after you open your account and fund it, the company assigns an expert in precious metals investment to you. This person will give you all the necessary details to begin your investment correctly. The experts will keep giving you insights on precious metals investments, help you achieve your investment goals, and recommend the best investment products.
While this is an exemplary aspect of the company, it also has a wrong side. These experts work on commissions as they double as sales staff. Sometimes, the idea favors something other than the naive customer. If the expert the company assigns to you is a desperate sales staff, the person may force you to purchase precious metals you do not need. They may also advise that you buy more than the required precious metals for a beginner investment so that the company will give them huge sales commissions. This bad side is another red flag we discovered about the company when we talked with some of its customers.
One of the benefits you will get from opening a precious metals IRA is full control of your account. You will not get this benefit from owning a traditional IRA. Primarily, investment specialists manage traditional IRAs for you. Moreover, if you make a bad investment decision in your traditional IRA, no one will advise you rightly.
Finally, Red Rock Secured does not incur losses when you make a mistake with your investment. Keeping this in mind will help you know that you are responsible for your choices even if their experts provide investment recommendations.
The company's IRA custodian partner is Kingdom Trust. Then they partner with the highly secure Delaware Depository for their storage solutions. Customers can choose between non-segregated and segregated options for storage. In addition, Llyod's of London fully covers the facility's insurance. The insurance company is renowned globally.
If you select the Delaware Depository storage option, you can also store your precious metals outside the United States. You can store with facilities that use Bank of Nova Scotia sub-custody services in Canada and Switzerland's Via MAT International.
The company boasts that its website provides its customers with a rich precious metals investment education section. Primarily, they have a mandate that focuses on providing investment knowledge for customers. The mandate states that "The best clients are the informed clients." Some educational tools in their educational section are;
When speaking to Red Rock Secured, they do not currently have any special promotions for people looking to take out, rollover or add funds to a gold or precious metals IRA. If you are looking for a great promotional offer from a reputable IRA firm, then Goldco is offering up to $10,000 in free silver. Click on the image below to register for this offer.
The company has had four closed complaints in the last three years
This rating is based on 138 reviews. 129 were excellent, 7 were very good, and 2 were average.
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4.8 out of 5 stars.
This rating was based on 157 reviews. 137 were excellent, 18 were great, 1 was average, and 1 was a bad review.
Bear Lake Gold has organized this Red Rock Secured review to help you choose the most suitable precious metal IRA investment for your needs.
We learned during this review that Red Rock Secured is a legitimate company. We believe that the company is not a scam precious metals IRA dealer.
We identified some red flags with this company's operations, but the company has a good reputation. However, Red Rock Secured is only a precious metals IRA dealer.
Therefore they have limited coin offerings. Primarily, they sell only IRA-eligible precious metals.
If you want to invest with a precious metals company that offers both IRA services and sells other precious metals varieties, we firmly advise you to choose any of our top three precious metals and precious metals IRA dealers. The companies we have rated the most in providing people with these services are Goldco, American Hartford Gold, and Augusta Precious metals.
If you are interested in securing up to $10,000 in free silver, which will boost your IRA fund and help your diversify, holding GoldcosGoldco's free silver offer is a must.
We believe Goldco's offer to be a minimal time offer and it might have even expired as you read this article, click here to find out if it is still available.