My Last Update to this Article was on: August 14th, 2019
A Word Of Advice
Don’t fall for pushy salespeople that will utilize the “Bait & Switch” and will charge you a premium for “rare” gold coins…unless you are looking to lose half of your investment.
Before you read my review of Broad Financial, click here to see why I decided to work with this other company instead.
Broad Financial Review
Broad Financial is a considerably new Gold IRA company, founded in 2004. It started out as a real estate firm that then progressed into becoming a Gold and Silver IRA company (at least that’s what most of their focus is about). Starting in 2010, this Gold Company started to become more well known, and is now one of the top 20 players in the gold and silver retirement industry.
Broad Financial Company’s customer service is absolutely marvelous, and I had the pleasure of speaking with a greatly courteous and extremely professional and knowledgeable sales representative. What I really liked about my phone conversation is that it was not pushy and they didn’t try to pitch me in a minute how I must give them my lifetime savings right away (trust me, this has happened more than once, with companies like this one, for example).
My Personal Opinion About Broad Financial Company
Yes, their sales force is simply spectacular. The only other company I feel so strongly about in terms of their friend-to-friend service is my top choice, right here. Or, you can read some of my other reviews (quickly) so you can get a feeling for some of the “nightmares” I had to go through.
Broad Financial Company, unfortunately, did show many negative aspects. I’ll go in-depth on each one of them, but the two main ones are a) They are not ranked by TrustLink or the Business Consumer Alliance, and b) they appear in the RipOff Report, showing a scam alert against this Company.
I Liked These Things
– Fantastic customer service
– A+ score (perfect score) with the Better Business Bureau
– Broad Financial Company uses the Delaware Depository (one of my favorite storage facilities)
I Did Not Like These Things
– Broad Financial Company is not ranked with the BCA nor with TrustLink
– After so many years in service, Broad Financial still has no client reviews on TrustLink (strange)
– Complaints have been filed against Broad Financial Company with the RipOff Review Website
– Even more complaints have been filed against the Company with the Complaints Board Website
– An extremely long time to process either a Gold 401K Rollover or a Gold IRA Rollover (up to a month)
– Very, very high set up fees ($1,400) when other companies charge $0
– Broad Financial also charges super high storage fees (compared to the other Gold Companies I’ve spoken with)
Reviews, Ratings, Complaints, and Scams
Better Business Bureau
– Broad Financial Company has an A+ score rating (the highest) with the BBB
– The Company has been accredited with the BBB since October, 2011
– A total of 2 complaints filed against Broad Financial.
Business Consumer Alliance
Broad Financial Company is not currently ranked with the Business Consumer Alliance
Similar to the BCA, TrustLink also is currently not showing any rankings – or even worse – any single client reviews for Broad Financial Company. This is a bit strange given that the Company has been in operation since 2004.
Other Reputable Review Sources
One thing I absolutely never like seeing – specially with a Gold Company I initially like during my phone interview – is that then, when I start digging in deeper with my Internet Research, I find out that the Company actually has had some severe negative reviews.
This is the case with Broad Financial Company. Broad Financial appears on the RipOff Report website. One past client calls Broad Financial “shady” and “dishonest.” The client goes on to explaining that the Company has not been in operation since 2004, as they claim, but rather since 2010. 2010 was the year when they started operating as a real Gold IRA Company.
The client continues explaining that Broad Financial Company specializes in Solo 401Ks, which involve complicated rules, and that at the end of the day, his experience with the Company did not end up being favorable.
Broad Financial – My Final Thoughts
It really saddens me that a Gold Company with such tremendously knowledgeable peeps behind the phone does not really have enough reputation, credibility, and integrity behind it to back this up. What I found out by talking to and deeply researching and analyzing Broad Financial is that they are not reviewed or ranked by some of the top entities like BCA and TrustLink, and that they also appear on the RipOff Report (never a good sign).
Furthermore, they charge an excessive amount ($1,400) to setup a Gold IRA account (this seems ludicrous as other companies do not charge a penny for it), and also charge high vs. its competitors for their annual storage fees. Their minimum purchase is also set at $10,000, which may limit some options for some folks.
And lastly, their Gold IRA or Gold 401k Rollover and transfer procedure can take up to 28 days to process. This is quite a lot given that some other Gold Companies do this in 7 days.
I would recommend to talk to to them on the phone, have a great conversation, and then move on to the next Gold IRA Company.
What Company Did I Choose?
For the reasons above, I decided to not choose Broad Financial.
Instead, I decided to work with this other company.
I wrote 3 pages on all the reasons on why I decided to choose this other particular company.
In a nutshell:
They specialize in gold IRAs, they have a non-pushy sales staff, the lowest fees, the fastest processing and shipping times, segregated storage (this is a big reason), and the best (and also the most) consumer reviews.
If you would like to talk to me, I’ll be glad to help out in anyway I can. You can email me directly to [email protected] and I’ll answer personally.