Have you been thinking about adding some physical gold to your IRA and heard about Rosland Capital? Here we will answer the question: is Rosland Capital a scam?
Before you are considering to purchase anything it’s probably a good idea to research the company first right?
Often times it can be a time consuming task though because there is so much to research and there is information on a lot of different places.
Here we have collected all the important information that you need to know before considering doing business with Rosland Capital.
We will have a look at the company itself, their customer reviews and a lot of other things. After this post you should know enough to be able to take a decision if Rosland Capital is for you or not.
Are you ready? Let’s begin by looking at the company itself.
About the company – Is Rosland Capital a scam or legit?
Rosland Capital is a precious metals dealer that was established in the heat of the stock market crash of 2008, which makes them relatively new in the precious metals industry.
They are headquartered in Santa Monica, California and are a dealer of gold, silver, platinum and palladium, including numismatic coins. Rosland Capital can also help people to add precious metals to their IRA’s.
They were founded by their current CEO, Marin Aleksov. Martin is bringing some credibility to the company with his 20 years of experience in the precious metals industry.
A big part of Rosland Capitals strategy is that they want to focus on educating the public of the importance of owning physical precious metals in these rough economic times.
Things to increase trust of Rosland Capital
Rosland Capital has received an A+ rating by the Better Business Bureau (BBB) which is the highest ranking that they give. They are also seen as an accredited business by the BBB.
They have also received a AAA rating by the Business Consumer Alliance (BCA) which is also the highest rating that they give.
All of this is indicating that Rosland Capital is a serious company that actually have a physical address and conduct business on a regular basis.
We can already start to see that Rosland Capital is most likely not a scam. But the question if they are a good company to purchase precious metals from still remains.
Rosland Capital customer reviews – The most important factor
Like the heading says the customer reviews of a company is probably the most important factor when deciding if you should do business with a company.
By listening to other peoples thoughts and experiences you can get a good feeling for how the company is run. Don’t you agree?
Complaints filed with the Better Business Bureau
To start of we are going to have a look at how many complains have been filed with the Better Business Bureau. Since 2013 there has been 18 customer complaints filed with the BBB.
Have a look below at a summary of the complaints.
As you can see half of the complaints have been about their products and services. This is definitely not what you want to see from your potential gold dealer.
Let’s have a look at one of the filed complaints.
Rosland capital overcharged me and did not give clear, concise explanation of the term ”spread” they use to identify their markup. This is fraud.
I asked for guidance from Rosland Capital to rollover an IRA to a Gold IRA. During this time I was advised that my IRA dollar amount of $38,361.00 would be rolled over to a Gold IRA. The transaction processed on 7/31/15. After review of this transaction in more detail, it was found that Rosland Capital did not roll over the full amount to the Gold IRA, but added a 25% mark-up, which they glossed over during the process by using the term ”spread.” They did not give clear, concise explanation of the ”spread” terminology they use to identify their markup. This resulted in a mark up charge to me and my family of ~$9,348.58. If I would have known that the company would charge me a mark up of that size, I would have NEVER moved forward with the transaction. I am prepared to seek legal action and have an attorney ready for litigation if an agreed upon resolution/settlement is not made.
Now the picture of Rosland Capital starts to look a little bit worse than it did just a few seconds ago right? You should read all of the complaints before considering to do business with Rosland Capital.
Complaints Filed with Business Consumer Alliance
There has been 3 complaints filed within the last 3 years. Also here the complaints are about selling gold on a high markup.
This is most likely how they make their money. When ”helping” people to rollover their IRAs to physical gold they talk their customers into buying some form of ”rare” coins where they can take a huge markup to increase their profits.
At least one comes to that conclusion after reading through the complaints. You can read all of the complaints if you like.
Maybe it’s starting to sound like this company isn’t for you and maybe you start to give up on the thought of rolling over your IRA to physical gold? Don’t panic, all of the precious metals companies are not like this.
After looking at a few more key factors about Rosland Capital we’ll have a look at a company that have 0 complaints filed against them.
Customer reviews at Trustlink
One site where a lot of people go to leave their reviews about a specific company is Trustlink. Here you can see a bigger picture because you will also get the positive reviews.
Because obviously there are people that are very happy after conducting business with Rosland Capitals. What we were looking at above was just the complaints that were filed against the company.
At Trustlink Rosland Capital receives 3.8 stars out of 5 out of 64 reviews. This is an average rating and it’s still not really what you want to see in a company that you might trust with your retirement savings.
After reading all of the reviews I still come to the same conclusion: they have a big markup on their products to get a bigger profit. A lot of people feel totally scammed and have lost thousands of dollars by buying into some ”rare” coins that turned out to not be rare at all.
Buying rare coins is not how you should invest in gold in my view.
You can read through the reviews if you like.
Second thoughts about Rosland Capital being a scam or not
In the beginning it looked like everything was in order and that Rosland Capital was a great company. But after reading all of the complaints and customer reviews I’m not so sure anymore.
Rosland Capital isn’t a scam because when you give them money they will actually give you precious metals. But the way they are conducting their business would make me think twice before I handed them any of my money.
After fully reviewing Rosland Capital there are 3 points that I’m a bit concerned about. Please do your own due diligence if you want to move forward with doing business with Rosland Capital or leave a comment below and I will do my best to help you.
- Sales Agents are dishonest – After reading all of the reviews online you can clearly see that there are a lot of customers that are upset with the way their sales staff are pushing the customers and using deceptive sales tactics. They say that they want to educate the public about the importance of owning physical gold but are much more interested in generating a quick sale than educating anyone.
- Shared storage gold – This is probably the worst part. This means that you wont personally own any gold. Shared storage is where a lot of people own a big pile of gold so you share the storage fee’s. What you want is to have your own little safety deposit box with precious metals in it that are in your name.
- A lot of complaints – As we have been talking about here there are a lot of bad reviews and complaints filed against Rosland Capital. This is obviously a big warning sign because these people have been conducting business with them. Maybe you will be satisfied, maybe you wont. I don’t think that I would trust my retirement savings with a company that have this many bad reviews. Does these bad reviews matter to you? Please leave a comment below about your thoughts.
Regal Assets – A company with 0 complaints or bad reviews
As promised, I would reveal a company that had 0 complaints or bad reviews against them. This is what you want to see when trusting a company with your retirement savings.
Regal Asset also have a A+ rating by the BBB and a AAA rating by the BCA. The only difference is that they have no filed complaints against them.
And if you look at Trustlink they have a 5 out of 5 star rating with around 930 reviews. Rosland Capital had around 64 reviews at Trustlink so Regal Assets have around 870 more reviews.
This let’s you know that there are a lot more people choosing Regal Assets than Rosland Capital when purchasing precious metals. Plus they have a 5 star rating.
Regal Assets has been featured in Forbes Magazines Investment guide and a lot of other big credible publications like Reuters. They were ranked number 20 on Inc Magazine for financial services which is a huge accomplishment.
If you want to rollover your current IRA to physical gold I strongly suggest that you read the Regal Assets review first to have a look at the industry leader.
To go back to the question: is Rosland Capital a scam or not? Well it’s not a scam but there are much better companies to do business with when it comes to acquire physical gold.