What is USAA Gold IRA?USAA Gold IRA Locations, Timings, Phone, Services
USAA Gold IRA is one of the largest and most well-known names in the financial industry, offering a diverse range of products & services ranging from insurance to investment advice. Founded in 1922 by a group of military officers, the corporation is based in San Antonio and has offices in the United States and Europe. It has more than $200 billion in assets.
The USAA platform is a full-service product that provides a strong option for casual traders, buy-and-hold investors, and those who want a professional to handle the heavy lifting. However, its lack of streaming data and advanced analytical tools makes it unsuitable for active traders.
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Because USAA’s banking and financial products are only available to current and former members of the United States military and their families, this platform is unsuitable for anyone who does not meet USAA’s eligibility standards.
- Address: 9800 Fredericksburg Rd. San Antonio, TX 78288
- Timing: Monday-Friday 6 a.m. – 10 p.m., and Saturday 8 a.m. – 8 p.m. CST
- Phone: (800) 531-8722
- Website: www.usaa.com
People Behind USAA Gold IRA: CEO, Owner, Co-Founders & MoreWho owns Usaa Gold IRA? What is the management team behind Usaa Gold IRA?
USAA Gold IRA operates supported by a team of professionals with a wide range of skills and positions. Here is some information on important individuals associated with USAA:
Wayne Peacock: President and CEO
Wayne Peacock is the President and CEO of USAA and he has been with the company for almost 30 years.
Peacock has been a USAA member for almost 30 years, having joined the company in 1988 in its real estate investment division and serving on the Executive Council since 2006.
Peacock serves on the USAA Board of Directors as well as the USAA Federal Savings Bank Board of Directors. He is a member of the Business Roundtable (BRT), an organization of America’s top executives, and a founding member of the Federal Reserve Board’s Insurance Policy Advisory Committee.
Randy Termeer: President, USAA Property and Casualty Insurance Group
Randy Termeer joined USAA in 2017 as Senior Vice President and General Manager of Auto Insurance.
He most recently led USAA’s acquisition of Noblr, which took place in June 2021. In addition, he introduced USAA’s SafePilot initiative for small business insurance.
Jeff Wallace: Chief Financial Officer
Jeff Wallace comes to USAA from Bank of America, where he most recently served as Chief Financial Officer of the Consumer Banking and Global Wealth and Investment Management.
Wallace has held executive positions with a number of significant financial firms during his more than 30-year career. He claims to have extensive experience improving work procedures, simplifying organizational tactics, and interacting with federal regulators.
USAA Gold IRA Products & Services: Insurance, Banking, Investing & AdvisingAll products & Services offered by Usaa Gold IRA
USAA Gold IRA provides a diverse range of products and services, including insurance, banking, investment, and advising.
The organisation claims to have gained the trust of its members by providing convenient banking, insurance, and a broad suite of investment products through its trusted sources.
Insurance
The company offers insurance to give protection for your car, home, personal possessions, and other assets. In addition, look into USAA’s health and life insurance solutions for you and your family.
Banking
Get access to a wide range of banking products for everyday use. From no-fee checking accounts to house loans, you’ll find something for everyone.
Investing
USAA provides investment options for you to Invest for the future and increase your wealth with our dependable partners. With investment options, you can get support in attaining your financial goals.
Advice
Prepare for both significant and minor life events. Get financial advice on spending, saving, and protecting what is most important to you.
Can You Invest in USAA Gold IRA?Do They Offer a Precious Metals IRA?
No, there is no USAA Gold IRA. The company only offers financial instruments that let you invest in paper gold, which differs vastly from physical gold.
If you’re interested in holding physical gold in your portfolio, you should go for a gold IRA.
A gold IRA will let you invest in precious metals such as gold and silver and avail their unique benefits. Recently, precious metals IRAs (another name for gold IRAs) have become increasingly popular among investors.
A big reasons for such an uptick in their popularity is the rising inflation and the government’s policies.
Historically, gold has outperformed other assets in hedging against poor economic conditions.
Hence, if you’re serious about protecting your investments from recession and economic downturn, I recommend investing a portion of your portfolio into a gold IRA.
You can check out our top gold IRA providers list to start.
Or, you can learn more about gold IRAs with this free guide from our #1 rated company:
USAA Gold IRA Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
According to the USAA website, customers can open an account with no minimums and pay $0 online.
Fee and Commission:
Additionally, The standard online $0 commission does not apply to over-the-counter (OTC) equities, transaction-fee mutual funds, futures, fixed-income investments, or trades placed directly on foreign exchange or in the Canadian market.
As per the company, Options trades will be charged the regular $0.65 per contract cost. Trades placed through a broker ($25) or by automated phone ($5) are subject to service fees. Fees for the exchange procedure, ADRs, and stock borrowing remain.
Schwab Satisfaction Guarantee:
Under this guarantee, USAA claims that If the customer is not totally satisfied for any reason, its trusted partner, Charles Schwab & Co., Inc., Charles Schwab Bank, SSB, or another Schwab affiliate, as applicable, will return any eligible fee relating to their issue. However, refund requests must be received within 90 days of the day the fee was charged.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. Usaa Gold IRA on the other hand provides fewer options.
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USAA Gold IRA Reviews and Complaints: BBB, Trustpilot, Sitejabber & YelpRead all the USAA Gold IRA reviews & complaints
Better Business Bureau (BBB)
USAA Gold IRA has a poor rating of 1.14 stars out of 5 on the Better Business Bureau (BBB) website. In the last three years, there have been 1,177 customer reviews and 3,082 complaints from customers closed. The company is not BBB accredited, and it shows that it has been in operation for more than 101 years, which is pretty impressive. However, the current number of customer complaints is cause for alarm.
Trustpilot
USAA Gold IRA has a 1.3-star rating out of 5 on Trustpilot, a consumer business operating a review website. There are a total of 2,048 customer reviews, with 86% of them being negative, which is quite awful and should raise a red flag for other potential customers.
Sitejabber
On Sitejabber, USAA has received a 2.03-star rating from 98 reviews, showing that the majority of customers are generally disappointed with their purchases. Customers who complain about USAA most frequently indicate issues with customer service, insurance companies, and credit unions.
Yelp
Again, the USAA Gold IRA has received no great reviews on Yelp, with the company receiving a 1.5-star rating out of 5. There are 1308 customer reviews and complaints, with 90% of them being negative.
After analysing the BBB, Trustpilot, Sitejabber, and Yelp reviews and ratings, it is clear that USAA Gold IRA raises a serious red flag. This red flag is a warning to potential clients that there may be some issue with a company’s services or finances.
Positive Reviews:
#1. A satisfied customer stated that USAA is the best around. He was recently involved in a very stressful car accident. USAA stepped in and put things right. Without getting into specifics, he went on, “I can truly say that USAA did more than I would ever expect from any insurer or bank, and they truly feel like members of the USAA family.”
#2. A customer stated, has been with USAA for 15 Years they always treat him with respect and if there is a problem they are on it.
#3. A satisfied customer stated, “USAA has made progress in the last year upgrading and improving their product.” Auto insurance is costly, but it is comprehensive and reliable – you get what you pay for! The market for homeowners insurance is quite competitive. He is looking forward to seeing upcoming improvements in the Banking & Fraud department.
Negative Reviews:
#1. A dissatisfied client stated that they had been with USAA for over 40 years and had been quite satisfied until recently. However, recent transactions with them have been awful, they have missed deadlines, and have poor customer service!! The company is terrible.
#2. Another dissatisfied customer stated that USAA is the worst insurance company he has ever worked with! They ignore their customers. He has been waiting for an estimate to repair his automobile for over a month. They don’t care how much money the customer gives them, or how badly his car has been damaged.
#3. A client advised everyone to avoid USAA since it is a terrible bank and the CEO Wayne is all about cost-cutting, even if it means ripping the customer. They have become fraudulent in their operations and treatment of their customers. The customer has been a USAA member for over 14 years. But he is no longer willing to deal with them.
USAA Gold IRA Lawsuits: UniCourt & Justia Have its customers sued USAA Gold IRA?
Many individuals have sued USAA and its subsidiary companies, including the following:
UniCourt
Comerica Bank-TX sued USAA Fed Sav Bank for Contract – Debt Collection. This lawsuit was filed in Harris County Courts, and Harris County Civil Courts, both of which are located in Harris, Texas.
Justia
Richard and Debra Plein filed a lawsuit against USAA Casualty Insurance Company, alleging insurance bad faith. The Pleins retained the services of three attorneys, two of whom were members of the Keller Rohrback LLP legal firm (Keller). Keller, on the other hand, had previously defended USAA in bad-faith litigation for over ten years.
Our top companies have a clean background and aren’t involved in any kind of major legal dispute. You can check out the list here.
Is USAA Gold IRA Legit? Should You Invest With Them?Is USAA Gold IRA a scam or legit? Are they worth it?
No, I don’t recommend investing with them.
Pros:
- Highly experienced
- Reputed brand
Cons:
- No Gold IRA services
- Too many complaints online
- Not BBB-accredited business
- Have been involved in legal disputes
USAA is a good option for new investors who only rely on its educational offerings. This may also be a great choice if you’re searching for a robo-advisory or managed-portfolio option because they have such a wide range of investing options.
However, neither the platform nor the fee structure is meant for active traders. Furthermore, the lack of a good online presence and customer complaints indicate that it is not an ideal choice in general, and the company is not BBB accredited, which is also not a positive thing.
Also, if you want to safeguard your retirement savings from the current economic crisis, you should opt for a precious metals IRA. You can find the best precious metals IRA provider of your state below:
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