What is Vantage IRA?Vantage IRA Locations, Timings, Email, Phone, Services
Vantage IRA is the leading Self-Directed retirement plan administration and alternative custody firm, helping investors who want to diversify their retirement assets directly into alternative investments such as real estate, promissory notes, and private entities.
They are a third-party administrator that works with First Trust Company of Onaga and has 6,500 clients in-house since its inception in June of 2004.
They provide clients with alternative asset options such as private financing, real estate IRAs, small businesses, and precious metals IRAs. Their annual fees are modest, however, they do not include precious metals storage or administration fees.
Vantage has a team of experts available to assist you in completing the process fast and easily. They claim to assist investors in alternative assets who desire an account administrator who is informed, courteous, and available to help them manage their particular investments.
Vantage claims to be committed to taking care of your unique assets for retirement. They provide you with flexible and potential-filled investment options that will allow you to direct the funds exactly where you want them to go.
- Address: 20860 N Tatum Blvd. Suite 240 Phoenix, AZ 85050
- Timings: Monday – Friday, 9:00 AM – 5:00 PM
- Phone: (866) 459-4580
- Email: [email protected]
- Website: www.vantageiras.com
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People Behind Vantage IRA: CEO, Owner, Co-Founders & MoreWho owns Vantage IRA? What is the management team behind Vantage IRA?
Vantage does not give much information about its team members. There is just information on CEO J.P. Dahdah available, however, after searching the web, we discovered a LinkedIn page for its Chief of Staff Carmen Mergie.
J.P. Dahdah: CEO & Founder
J.P. Dahdah is the Founder and CEO of Vantage IRA, a retirement asset management firm that manages over $2.5 billion in assets.
Dahdah received many awards and recognitions during his 25-year financial career, including the renowned “Entrepreneur of the Year” award from the Arizona Hispanic Chamber of Commerce.
He was also presented with the “Forty Under 40 Award” by the Phoenix Business Journal and the Arizona Hispanic Chamber of Commerce for being one of Arizona’s most outstanding community leaders.
J.P. is a former President of the Arizona Chapter of the Entrepreneurs’ Organisation (EO) and a member of the Scottsdale Arts Board of Trustees’ Executive Committee.
Carmen Margie: Chief Of Staff
Carmen Margie is the Chief of Staff at Vantage IRA. As Chief of Staff at Vantage, she claims to manage the Business Development and Marketing Teams while also working behind the scenes to support their CEO.
She joined the organisation in 2011 and has held various positions including Sales & Marketing Operation Lead to Chief of Staff.
Vantage IRA Products: Bullion Coins, Bars, And Rare CoinsAll products offered by Vantage IRA
Vantage IRA’s website is a little tough to use. There is no separate menu option to view the various types of investments that are available through Vantage IRA.
All of the information can be found under a tab called “Forms.” Some changes might be made to make the website more user-friendly.
We were able to discover the various types of retirement accounts available at Vantage IRA after much digging.
The IRA Accounts include:
- Traditional IRAs
- Roth IRAs
- Simple IRAs
- SEP IRAs
- Qualified Retirement Accounts
Most people have heard about traditional and Roth IRAs. These are the two most common types of IRAs that people are open to investing in their retirement.
A traditional IRA allows you to defer paying taxes on contributions made throughout the calendar year.
A Roth IRA, like a Roth gold IRA, does not allow for deferred taxes, but when investors withdraw funds from their Roth IRA after retirement, they do not have to pay taxes on the amount withdrawn.
SEP and SIMPLE IRAs are introduced for businesses that want to help their employees plan for retirement by contributing to their employee retirement funds. At the same time, the company can profit from tax write-offs.
Investment Options
Vantage Self-Direct IRAs allow you to invest in assets that are not available in the stock market. Here are some common options for investing.
Real Estate
This asset class is the most popular among SDIRA investors. You can invest in a variety of properties, including commercial, residential, multi-family, unimproved properties, vacation rentals, fix and flips, and more.
The IRA can be used to purchase real estate in the same way that you would without an IRA. You can buy with cash, with a mortgage, or through corporations. It is entirely up to you to make this decision.
Promissory Notes
SDIRA investors seeking a fixed income can lend money on their terms. IRAs can invest in a variety of promissory notes. These include unsecured, secured, convertible notes, trust deeds, and private credit funds.
With a self-directed IRA, you have complete control over the money in your SDIRA and can even be the lender if you like.
Private Entities
You can put your money into private entities. These are non-publicly traded companies. These include small to medium-sized businesses as well as startups.
These can be formed in a variety of ways, including limited partnerships, LLCs, private placements, private funds, and private stocks.
Private investors provide capital to private firms. These can include IRAs, which can be used to inject funds into a growing business. When these initiatives are fruitful, your IRA does not have to pay capital gains taxes.
Checkbook IRA LLC
Limited Liability Companies, usually known as LLCs, are a type of entity that can protect its assets. A Chequebook IRA LLC is a business structure in which an IRA is the sole owner.
It has numerous advantages. SDIRA investors who desire to own several assets benefit from the structure’s ability to capitalise on investment opportunities as they occur.
How to Invest in Vantage IRA?Step-by-step guide for investing in Vantage IRA
Time needed: 15 days.
To invest in a precious metals IRA through Vantage 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 Vantage 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 Vantage 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 Vantage 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 of 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.
Vantage IRA Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
The company does not provide much information on fees and charges, but you can find the following information in the FAQs section:
The website states that there is a $50 non-refundable account setup cost. To a maximum yearly fee of $2,370, the record-keeping fee is $395 per asset or $100 per mortgage liability. In addition, the customer must pay a $125 transaction charge for any asset or liability acquisition, sale, exchange, payback, or re-registration.
There is also a $225 termination fee for a full account cancellation, which includes the transfer of all assets from your account. $50 for a partial account termination that includes a lump-sum payment or asset transfer.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. Vantage IRA on the other hand provides fewer options.
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Vantage IRA Reviews and Complaints: BBB, Trustpilot, Sitejabber Read all the Vantage IRA reviews & complaints
Better Business Bureau (BBB)
Vantage IRA has an A+ rating and 2 stars out of 5 on the Better Business Bureau (BBB) website, based on 1 customer review. According to the Better Business Bureau, the company has been accredited since 2010, and one complaint was closed in the last three years. The customer praised the company’s concept but complained about bad services, such as not responding to the customer sooner and not using a secure payment option.
Yelp
Vantage IRA has a 1-star rating on the Yelp platform, which is one of the most trusted business rating platforms, based on 3 customer reviews. Customers have all left negative reviews, complaining about charging higher fees and not responding to inquiries.
Vantage has a 3.7-star rating out of 5 based on 12 customer reviews and complaints on Google. Customers left both positive and negative reviews.
Aside from the platforms stated above, Vantage has no ratings or reviews on Trustpilot, Trustlink, Sitejabber, or BCA. This lack of a good online presence raises red flags for potential investors, as having a solid online presence has become important nowadays.
Positive Reviews
#1. A satisfied customer stated that Vantage has had his account for over 12 years and that he has had a positive experience. The employees have all been kind, and if there is ever a problem, they go out of their way to fix it.
#2. Another customer stated that the company is by far the best and that they respond instantly. Their prices are also reasonable. He stated that he is glad he discovered this firm and that he has been a satisfied customer since October 2011.
#3. Another satisfied customer stated that she had a good experience, and she added you will get a positive experience too as long as all of your paperwork are done on schedule.
Negative Reviews
#1. A dissatisfied customer stated that he had contacted Vantage three times in the last nine days, wanting to talk with someone, but had received no response. One contact was a phone call with a promise to return the call by the end of the next day. The other two contacts were through their portal. The customer lastly said, they clearly do not care about their customers.
#2. Another customer advised everyone to avoid this company, claiming that the employees change every two years. Please be careful where you invest your money, and if possible, look at the employee’s credentials and education. Then you’ll notice that the employment and education dates don’t match. Lastly, the customer said it is worthwhile to investigate this company if you plan to invest your money with them.
Vantage IRA Lawsuits: UniCourt, Justia, CasetextHave its customers sued Vantage IRA?
UniCourt
On 01/28/2021 St James Crossing Homeowners Association, Inc filed a property Foreclosure lawsuit against Vantage IRA. This case was filed in Polk County Florida Courts, not Classified By Court located in Polk, Florida.
Another Lawsuit
Another lawsuit was filed against Vantage IRA, alleging that the business was operating as a Ponzi scheme and that their company was being used by fraudsters to deceive innocent retirees. The case was filed in the Northern District of California of the United States District Court.
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 Vantage IRA Legit? Should You Invest With Them?Is Vantage IRA a scam or legit? Are they worth it?
No, I don’t recommend investing with them.
Pros:
- Thousands of happy customers
- Low Annual Fees
Cons:
- Lack of transparency
- Limited online presence
- Involved in active lawsuits
Vantage IRA is not a scam; in fact, it is one of the major IRA administrators in the United States. They have almost 6,500 customers. They collaborate with a few trust companies and act as a third-party administrator.
The company provides non-traditional asset options such as real estate IRAs, private entities, precious metals IRAs, and much more.
They have low annual fees that do not include fees for precious metal storage and administration.
It is a decent company, but we do not recommend them because they do not have a good online presence and lacks transparency, making them not the best option for investors looking to protect their savings with physical precious metals held in a tax-advantaged individual retirement account.
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