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What is Red Rock Secured? Is this a legitimate company that you should use to set up a Precious Metals IRA or a scam that you should avoid at all costs? If you've been looking for the right precious metals investment company to help you set up a Gold or Silver IRA, you may have come across Red Rock Secured.
Today, we're going to share more with you about Red Rock Secured, the products and services they offer, and what you can learn from reading reviews from past customers. Continue reading to gain the information you need to decide if Red Rock Secured is the best company for you to work with to add precious metals to an IRA.
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About Red Rock Secured
Red Rock Secured was founded by Sean Kelly in 2008. After the market crash in 2008, Kelly wanted to offer individuals a better option for investing, rather than leaving all of their money in the volatile stock market. He wanted to prevent investors from losing all of their retirement funds in the event of another future market crash.
The company aims to educate each investor to help them make strategic investment decisions to protect their retirement account. Some of their key goals and promises are listed on their website. These include:
Coins Available Through Red Rock Secured
Red Rock Secured's customers can choose from various gold, silver, platinum, and palladium coins. If you're interested in diversifying your portfolio and protecting your financial future with Red Rock Secured, here are the coins that are currently listed on the website:
Opening a Gold IRA
A Gold IRA is a type of Self-Directed IRA that allows you to invest in precious metals coins and bars instead of the traditional stocks and mutual funds. By opening a Gold IRA, you're able to hold physical precious metals in your retirement account. This provides many investors with peace of mind, knowing that their holdings can't be hacked or impacted significantly by politics or world events.
Gold, silver, platinum, and palladium represent excellent investment opportunities. They have held their value well over the years and continue to be highly sought after all across the globe.
If you'd like to take advantage of all the benefits associated with investing in gold, silver, platinum, or palladium, Red Rock Secured can help you set up a Gold IRA, also called a Precious Metals IRA. Whether you're looking to rollover funds from a retirement plan through a previous employer or are ready to invest money sitting in your savings account, they can connect you with an IRA custodian company who will facilitate funding your new account.
When you call Red Rock Secured, you'll be connected with one of their gold experts who will be ready to walk you through the process of getting your account set up. The team at Rec Rock Secured with take care of the paperwork required to set up your account and rollover funds from an existing plan. They keep the process as simple as possible for you.
After your account has been funded, one of the gold experts at Red Rock Secured will help you decide which precious metals you would like to add to your account. They will help you understand the benefits of adding each type of precious metals to your IRA to enable you to make the best possible investment decisions for your financial goals.
IRA Fees
Red Rock Secured website does not list any information about the fees you'll be charged for setting up a Precious Metals IRA. This may be since they work with various IRA custodian companies and each company may charge their own fees.
However, it does make it more challenging to compare Red Rock Secure with other companies out there. You'll need to make some phone calls and compare notes to see what the fees will look like if you decide to go with Red Rock Secured, which can obviously make it take longer to get your IRA set up.
Why Open a Gold IRA?
We touched on some of the main benefits of precious metals above, but here are the top four reasons Red Rock Secured lays out on their website for investing in gold and other precious metals:
IRA Storage Options
In nearly all instances, the IRS does not allow individuals to be the custodians for the precious metals held in their IRA. These metals must be stored in an IRS-approved depository. When you set up a Precious Metals IRA with Red Rock Secured, you'll be able to rest easy knowing that your gold, silver, platinum, and palladium coins and well-protected and safe.
The metals in storage are held in a facility with top-notch security and backed by a 100% insurance policy through Lloyd's of London. When you store your IRA precious metals in a depository, they always remain under your name. Documentation is saved to prove that you are the owner of each item in your IRA.
You can also make an appointment and view your precious metals at the depository if you'd like.
Red Rock Secured Knowledge Center
Once you become a Red Rock Secured client, you'll have access to their Knowledge Center. This portion of the website offers useful information about investing in precious metals, preparing for retirement, and more. As we shared above, one of Red Rock Secured's priorities is helping empower its clients by giving them the knowledge they need to make informed decisions to benefit their financial futures, and the Knowledge Center is one way that they work towards reaching that goal.
Gold and Silver Price Charts
Another section of the website has real-time gold and silver charts to help you monitor the precious market and use the data to inform your investment decisions. You can view the real-time spot price for gold and silver. This section of the website also has historical charts showing the price of gold and silver dating back to the early 1990s.
Are There Any Red Flags for Red Rock Secured?
To help you determine whether Red Rock Secured is a trusted company worthy or your business or if there are any alarming red flags about the company, we looked up reviews on various online review sites. Among the sites we checked were the Better Business Bureau, the Business Consumer Alliance, TrustLink, and Trustpilot. These four sites are among the most trusted online and can help you get a better feel for the company.
Reading through the reviews provided by past customers can help you learn more about a company and the manner in which it conducts business. You can gain useful information about the products and services the company offers and how they interact with their customers.
As you can see from the reviews below, Red Rock Secured has an A+ rating from the Better Business Bureau and a AAA rating from the Business Consumer Alliance. These are the top ratings awarded by these two companies. They also have a very high review average on Trustpilot.
However, things start to fall apart when you look at the reviews on TrustLink. A 2 out of 5-star average is pretty abysmal. And, while a little over 55 reviews isn't a ton, it is certainly enough to see a pattern of poor reviews.
Is Red Rock Secured a Scam?
Red Rock Secured is a legitimate company. They have been in business for over 10 years and offer a real service to their customers.
However, while we don't believe that Red Rock Secured is a scam, we would still advise you against working with them. One of the most concerning things to us is the very poor review score on TrustLink.
When you look more closely at the reviews listed on TrustLink, many of them are flagged as fake reviews posted by the company to make themselves look like a good choice to potential companies. Any company that doesn't trust their real customers to be happy enough to post legitimate positive reviews sounds a bit sketchy to work with.
One of the actual reviews of TrustLink was buy a past employee who mentioned some pretty negative details of the company's dealings with their clients. These included sharing misleading information, overcharging commissions, and more. This review coupled with the fake reviews posted by the company leave a whole lot of questions about how wise it would be to work with Red Rock Secured.
There have also been three complaints filed against Red Rock Secured with the BBB in the last three years. This also reflects poorly on the company and the products and services they offer.
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Final Verdict
Adding precious metals to an IRA is a wonderful way to prepare for retirement. Precious metals diversify your portfolio, hedge against inflation, and are very easily to liquidate when you need cash. However, while setting up a Precious Metals IRA is a good idea, we would not recommend using Red Rock Secured to help you with this endeavor.
There are too many question marks about this company and the services they provide. Between the fake reviews posted by members of the company on TrustLink, the very scathing review from a previous employee about how they conduct business, and the fact that there isn't clear information about whether you can purchase any gold, silver, platinum, or palladium coins as a personal investment on the website, we'd strongly suggest looking elsewhere when you're reading to set up a Gold IRA.
There are plenty of Gold IRA companies that have a better reputation than Red Rock Secured. And, most of these companies also give you the option to purchase precious metals as a personal investment in addition to adding them to your retirement account.
We believe that there are better companies out there to make your investment with.
Or you can get a free precious metals investment kit from our #1 recommended company right now!
Or, continue with Red Rock Secured...