Finding an IRA custodian shouldn’t be taken lightly. This is your money and your future, after all!
Both fortunately and unfortunately, there are many precious metals IRA custodians out there to choose from. I say fortunately and unfortunately because it’s great to have so many options available, but it can be overwhelming to find the right custodian for you.
Before you decide on a gold IRA custodian, consider this Accuplan Review. We dove head-first into Accuplan and did the research for you.
Who is Accuplan?
Accuplan is a company that has been around since 1993, so while still relatively new-ish to the IRA industry, they’re not a company that can still blame any “warts” on being newbies. And I’ll let you in on a little tidbit of information…Accuplan is a company that definitely has some issues. Before we get to those, let’s look at who Accuplan is.
According to their website, Accuplan, running out of Utah, is a company led by a team of experts who are ready to help you to set up your precious metals IRA. They also deal in real estate for those investors looking to retire. This includes buying residential properties, as well as the following:
- Commercial properties
- Deeds of trust
- Farmland purchases
These types of real estate are eligible for IRA accounts and they can also be combined with a precious metals IRA. This is a sound investment practice as metals and real estate tend to behave inversely, i.e. when one of those markets is doing poorly, the other is typically flourishing.
This is where it comes in handy to have a reliable IRA custodian; both types of assets are subject to rules set up by the IRS and unless you’re someone with a background in investments and tax laws, you could be in over your head.
This doesn’t mean you should instantly jump into using Accuplan for your investment needs. They are definitely lacking in customer education and this can lead those with less knowledge in investing to lose money, no matter how theoretically sound the dual investment process can be. And nobody wants to lose money!
Accuplan’s Company Reputation
So, here is where things get a little dicey. I would love to tell you that Accuplan has a positive reputation in the IRA world, but, well, they just don’t.
The first issue with Accuplan is that they are not transparent in the way they operate. I don’t know about you, but I certainly want to know about the company in charge of my retirement.
The second problem with Accuplan is the sheer number of complaints against them that you can find on the internet. Of course, some complaints are always fake or inaccurate, but even if you only look at half of them, you’ll see that the remaining complaints share similar issues, including:
- Information is either inconsistent or misleading
- Long delays in fund handling
- Customer service representatives are unwilling to help in resolving issues
- Confusing customer service system
- Locking customers out of their account
- No transparency about fees and costs
- Significantly more expensive than other precious metals IRA brokerages
An additional thing to keep in mind is that Accuplan is not Better Business Bureau (BBB) accredited and they choose not to deal in BBB reviews, findings, or complaint resolutions in any way, so if you have an issue, you will have to consider legal action.
They claim it is because they deal in highly confidential information and they don’t want to put their customers at risk by dealing with third-party companies.
Sorry, Accuplan, we aren’t buying that. There are hundreds of precious metals dealers, IRA brokers, and financial services companies that are BBB accredited and they have no issues with protecting their customers.
What is a Self-Directed IRA?
A self-directed IRA is a retirement account where the investor chooses their own investments, which can include the following:
- Precious Metals – Offer protection against inflation and stock market crashes
- Real Estate – Always holds some value
- Cryptocurrency – The “buzz” word in investment trends
These alternative investments are a popular method to diversify your retirement portfolio, but if you have any questions about your investment choices, you can’t ask Accuplan for advice.
Self-directed means just that, you’re on your own in making choices. This can really cause someone without investment experience to struggle with what is right or wrong for their portfolio, which can be financially devastating.
The Final Verdict on Accuplan
Accuplan has been around long enough to know what is good practice, yet they continue to disappoint their customers. With their reluctance to participate with the BBB, lack of transparency, multiple customer complaints, and lack of customer service, Accuplan is not an IRA company that will satisfy investors who have little to no investment experience.
Let’s be clear, though. Accuplan is not a bad company, per se, they just aren’t geared towards newer investors. If you have investment knowledge, and you want a more hands-off approach from your third-party IRA brokerage. Otherwise, Accuplan wouldn’t be my first choice.