Looking for a precious metals IRA? Then you might have come across the name of Oxford Gold Group. This Oxford Gold IRA review will help you determine if they are worth your money or not.
You’ll learn about their reviews, fees, and find out how well they compare to others.
What is Oxford Gold IRA?Oxford Gold IRA Locations, Timings, Email, Phone, Services
Oxford Gold Group, based in Beverly Hills, California, portrays itself as a safe haven for customers wishing to invest in precious metals with their retirement assets. Above all, the company shows a desire to help investors through their precious metals investment journey every step of the way.
The company was founded in 2017 under the leadership of its current President, Patrick Granfar, and has quickly established a strong and excellent reputation within the sector.
Oxford Gold was founded with a single objective in mind: to assist retirees in safeguarding their assets while creating a diverse investment portfolio. This is particularly significant in today’s volatile financial environment since traditional assets such as stocks and bonds are rapidly depreciating.
As a result, the company realised that encouraging investment in stable assets such as precious metals was the greatest approach to protect individuals from market fluctuations.
Currently, the company focuses on converting current IRAs and 401(k)s into precious metals, offering competitive pricing and direct metal delivery services.
In addition, their A+ Better Business Bureau rating improves their reputation. Notably, the great customer service provided by Oxford Gold Group has been important in this regard. They’ve worked with the help of industry specialists who are devoted to offering reliable support at a lower cost.
Indeed, their focus on client interactions has continued to attract investors and has been a cornerstone of their success.
Address: 9100 Wilshire Blvd., Suite 800E Beverly Hills, CA 90212
Timings: Monday to Friday, 7 am–6 pm
Phone: (833) 327-9472
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People Behind Oxford Gold IRA: CEO, Owner, Co-Founders & MoreWho owns Oxford Gold IRA? What is the management team behind Oxford Gold IRA?
The company does not disclose any information on its executive team which could be concerning for potential investors.
However, the following are some details about Oxford Gold Group’s CEO and Co-founder that I found mainly through his LinkedIn profile:
Patrick Granfar: Co-founder & CEO
According to his LinkedIn profile, Patrick Granfar, the co-founder and CEO of Oxford Gold Group, began his professional career at the University of California, Los Angeles (UCLA).
His first professional position was managing sales for a mortgage company, laying the groundwork for his future financial endeavors. His early career was defined by a variety of responsibilities in the lending and mortgage businesses.
Granfar has years of experience in the gold IRA sector, having worked with Augusta Precious Metals and Lear Capital. In 2016, he worked as a Senior Account Executive at Augusta Precious Metals for eight months before joining Lear Capital.
His stint as a Senior Portfolio Manager at Lear Capital, a self-directed IRA processing firm, was notable.
It’s worth noting, though, that Granfar left Lear Capital before the company got involved in a class-action lawsuit. The complaint, filed in June 2021 by New York Attorney General Letitia James, accused Lear Capital of neglecting to disclose hefty commissions charged to consumers.
By this point, Granfar had laid the foundation for Oxford Gold Group.
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Can You Invest in Oxford Gold IRA?Do They Offer A Precious Metals IRA?
Time needed: 15 days.
To invest in a precious metals IRA through Oxford Gold IRA, here are the general steps:
Open a Self-Directed IRA
Select an IRA company that handles opening precious metals IRA accounts and fill out an application. You can work with Oxford Gold IRA to recommend an IRA company and provide the necessary paperwork. However, I don’t recommend doing so.
Fund Your IRA
Once you have selected an IRA company, you can move your funds into your new IRA account. You can work with the IRA company representative to transfer or rollover funds into the new account.
Select a Precious Metals Dealer
One of the forms you need to fill out along the way is typically called a Buy Direction Letter. This is where you list the precious metals dealer you have selected, such as Oxford Gold IRA.
Decide Which Precious Metals to Purchase
You can choose to invest in gold, silver, platinum, or palladium for your IRA. There are some restrictions regarding fineness requirements and allowable coin types, so it’s important to get guidance from Oxford Gold IRA in this area.
Place Your Order
Once the funds are available in your IRA account, you can call them to place your order for the desired precious metals.
However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer in your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer and what you might miss out on. You can learn more about gold IRAs through the button below:
Oxford Gold IRA Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
Oxford Gold Group charges a flat fee of $175 to $275 per year for account setup and maintenance. Storage costs between $100 and $200 per year. There may also be additional charges for services such as paper statements and other services.
Let’s look at these fees in more detail so you can make an informed choice.
Setup and Maintenance Fees
Oxford Gold Group charges a set annual maintenance cost of $175 to $275 per year for precious metal IRAs. Accounts with less than $100,000 will be charged a $175 annual fee. Accounts with amounts more than $100,000 will be assessed a $225 fee.
The annual storage fees for your precious metals with Oxford Gold Group are between $175 and $225. These fees assist in covering the costs of securely storing your precious metals at one of their preferred depositories, assuring the safety and security of your investment.
It’s also worth mentioning that refunds for larger accounts may be available, making it even more cost-effective for investors with significant assets.
While Oxford Gold Group aims to keep prices as low as possible, there may be additional fees in some cases. For example, fees for printed statements or other services not included in the normal account fees may apply.
When looking for a precious metals IRA provider, it’s critical to understand the potential costs so you can make the best option for your investing needs.
Customers constantly praise Oxford Gold Group for their professionalism, responsiveness, efficiency, and friendliness. They also stated that the business walked them through the entire process, educated them on the benefits and drawbacks of precious metal IRAs, and thoroughly answered their questions.
While the vast majority of reviews about Oxford Gold Group have been good, the company could do better in a few areas. Some customers, for example, have complained that delivery of physical metals took longer than expected. Also, a few customers have suggested that the company be more transparent about fees and precious metal prices.
Finally, some investors may be concerned about limited customer service hours. Addressing these areas for improvement could help Oxford Gold Group maintain its image and acquire more satisfied customers.
Oxford Gold Group has received 19 complaints on BBB and other consumer platforms
The company has received several unresolved complaints from customers. There are also several unresolved negative reviews on different platforms. Our #1 rated gold IRA company has ZERO unanswered complaints on BBB.