|BCA Accredited Rating||N/A|
|BBB Accredited Rating||A+ (On a scale of A+ to F)|
|IRA Transfer Process||21-28 Business Days|
|401(K) Rollover Process||21-28 Business Days|
|Metals Delivery||1-2 weeks|
|Annual Admin Fees||Not Disclosed|
|Annual Storage Fees||$115|
|Preferred Custodian||IRA Services|
|Preferred Depository||Delaware Depository|
|Min Purchase Amount||$10,000|
|Physical IRA Application|
|Digital IRA Application|
|U.S. Mint Listed Dealer|
If you are nearing retirement age or you have already reached such a point, then chances are that you are aware of the importance of an Individual Retirement Account (IRA). Your IRA is your plan for the future, meant to get you through the golden years of your life. With many companies currently offering individuals tools to manage and increase their retirement funds, it is often difficult to know which one is the best choice. One such company that has garnered attention recently is known as Broad Financial. Their services are geared toward helping individuals become more active in managing their IRA funds and investments.
Established in 2004 as a private investment real estate firm, the company is relatively new and has little experience in the IRA business. It was only in 2009 that the property investment firm transitioned into the IRA investment area. What spurred these changes was the real estate market crash in 2008 and the desire to venture into IRA investments because Broad saw a future in that area. The firm’s main service is offering clients a self-directed IRA, a platform that provides control and individual management over investments in many areas of the economy.
Formally, the platform that the company offers is known as, Ultimate Self Directed IRA and Solo 401(K). This platform gives users the ability to diversify their portfolios through personally investing in property, precious metals, random assets, and private businesses. The process works by simply writing out a check for the investment, and hoping that a return follows. While this process may seem promising, there are a number of flaws with Broad’s IRA Platform.
A Self Directed Platform that mainly focuses on investments in property and private business can be a negative decision because many of these investments come with a high risk. There is little guarantee that the investments will succeed, and often-times, they do not. In addition to being a risky investment, it is necessary to analyse the firm that is offering this investment strategy.
Before investing with any company, it is imperative to review their history. Two of the best sources that give prospective investors superb information are Rip-off Report and the Better Business Bureau.
According to the Rip-off Report, there are currently 6 detailed complaints levelled against the investment firm. Most reviews have complained that the group is a scam and does not provide customers with honest information or returns on their investment.
Currently, the there are two complaints that are registered with the BBB. These two complaints revolve around issues regarding advertising/sales issues and billing/collections issues. Both of these issues are consistent with the main problems associated with this business.
Overall, Broad Financial does not have very favourable reviews. Most customers are unsatisfied with the services, they have not been in the IRA business for long, their investments are risky, and the Rip-off Report and BBB has a number of issues registered with them. Alternatively, you can check out our top recommended companies on the site.
Broad Financial Commercial Video
Broad Financial Website Monthly Visitors
BF Company Contacts
|Address:||21 Robert Pitt Dr, Suite 202, Monsey, NY 10952|