With so many gold IRA companies abound, it can get tricky to choose one. Gold IRA companies allow their customers to invest in precious metals through a self-directed IRA.
These companies have become quite popular recently as precious metals rise in prices and provide investors with a unique way to conserve their wealth.
One such company you might have come across is Cornerstone Asset Metals.
Find the Best Gold IRA Company of Your State
But are they worth your money?
Can you trust them with your IRA?
In this Cornerstone Asset Metals review, we’ll go over the various aspects of this firm and determine if you can trust them or not.
About Cornerstone Asset Metals
Cornerstone Asset Metals has been operational since 2009. It was founded by Terry Sacka. According to the corporate website, their primary purpose is to connect investors with precious metals products that will secure their assets. They wish to simplify the process of investing in bullion for retirement.
Terry Sacka is a major driving force behind the organization. He is a Certified Asset Management Specialist, which means he has finished a specialized asset management training program. He also hosts a podcast that discusses many areas of investing and how it is changing in today’s environment.
Terry Sacka also hosts a syndicated television show called Wealth Transfer. If you are not in the syndication block, you can access full episodes on YouTube. Throughout the podcast, Sacka examines many facets of the financial and political scene, as well as how economic issues effect your money.
Cornerstone Asset Metals’ website offers a variety of instructional tools. For example, you can receive a free gold guide. This discusses the worth of precious metals and how they operate in today’s economy. It also leads you through the basic steps of starting a precious metals IRA.
The website provides a wealth of information on the various assets available through a retirement account. It also provides links to several of Terry Sacka’s videos and essays on various economic issues. However, there is limited information accessible on which products may be purchased from the precious metals company.
What are the Products and Services at Cornerstone Asset Metals?
When it comes to investing in precious metals, Cornerstone Asset Metals is a company dedicated to providing tangible assets like gold and silver for both individual investors and those planning for retirement. Whether you are looking to protect your wealth or diversify your retirement portfolio, Cornerstone offers several key products and services designed to help you achieve financial security. In this blog post, we’ll dive into the details of what they offer.
1. Gold and Silver Bullion
Cornerstone Asset Metals specializes in the sale of physical gold and silver bullion, giving investors a reliable way to protect their assets during times of economic instability. Whether you’re looking for coins or bars, Cornerstone provides a variety of weight options and products to suit different investment needs.
– Gold Bullion: You can purchase gold in the form of coins or bars, ranging from small, easy-to-manage weights to larger bars that offer bulk purchasing advantages. Gold has long been considered a stable hedge against inflation and is favored by investors seeking to diversify away from traditional paper assets like stocks and bonds.
– Silver Bullion: Similar to gold, silver can also be bought as coins or bars. Silver is often seen as more accessible for new investors due to its lower price point, while still offering strong protection against market volatility. Silver has a broad range of industrial uses, adding to its investment appeal.
2. Gold and Silver IRAs (Individual Retirement Accounts)
One of Cornerstone Asset Metals’ primary services is helping investors create precious metals IRAs, specifically Gold IRAs and Silver IRAs. These accounts allow you to hold physical gold or silver as part of your retirement plan, which can provide a significant hedge against inflation and economic uncertainty.
– Setting Up a Precious Metals IRA: Cornerstone assists in setting up and rolling over existing retirement accounts, like 401(k)s or traditional IRAs, into a Gold or Silver IRA. This process enables investors to diversify their retirement savings with tangible assets instead of just paper assets, which are subject to market fluctuations.
– IRA-Approved Products: Not all gold and silver products can be included in a Gold or Silver IRA. Cornerstone ensures that the bullion you buy meets the IRS’s strict guidelines for purity and eligibility, which is essential for keeping your IRA compliant with tax regulations.
3. Cornerstone Crowns
In addition to traditional bullion, Cornerstone Asset Metals offers a unique product called Cornerstone Crowns. These are silver coins designed with biblical themes, making them both an investment and a collectible. The Cornerstone Crowns offer a symbolic connection to faith-based investing and are marketed to individuals looking for a more personal touch in their investment products.
– Biblical Designs: The coins are engraved with images and scriptures from the Bible, making them appealing to those who wish to align their investments with their religious values. While they hold value as silver bullion, they also serve as unique collectors’ items.
4. Consultation and Wealth Management Services
Cornerstone Asset Metals takes pride in offering personalized consultation services to help investors navigate the complex world of precious metals. Their wealth advisors provide one-on-one support, guiding investors through the process of building a diversified portfolio. This personalized approach helps ensure that your financial goals and risk tolerance are taken into account when planning your investments.
– Ongoing Support: Beyond the initial purchase, Cornerstone provides ongoing support to monitor and manage your investments. This includes updates on market trends, strategic advice, and ensuring that your portfolio remains aligned with your financial objectives.
Why Invest with Cornerstone Asset Metals?
Investing in physical gold and silver has long been considered a smart move for those looking to hedge against inflation, protect their wealth during economic downturns, or diversify their portfolios. Cornerstone Asset Metals offers a range of products and services that cater specifically to these needs.
Their commitment to education, personalized service, and unique offerings like the Cornerstone Crowns makes them an attractive option for both new and seasoned investors. Whether you’re seeking to protect your retirement with a Gold IRA or simply want to buy silver bullion, Cornerstone Asset Metals has the expertise and products to support your investment journey.
Cornerstone Asset Metals Reviews and Ratings
When considering investing with a precious metals company like Cornerstone Asset Metals, it’s crucial to understand what other investors think. From trustworthiness to customer service, online reviews give valuable insights into whether a company is worth your time and money. Let’s dive into the details of Cornerstone’s ratings across various review platforms to help you make an informed decision.
TrustLink: 5-Star Ratings for Trustworthiness
One of the standout platforms where Cornerstone Asset Metals shines is TrustLink. The company holds 5-star ratings on this site, with customers praising the business for its transparency and ethical practices. Clients have highlighted the company’s focus on integrity, making it a solid choice for investors who value trustworthy partners in managing their precious metals investments.
Business Consumers Alliance (BCA): AAA Rating
Another positive mark for Cornerstone Asset Metals comes from the Alliance of Business Consumers (BCA). The company boasts a AAA rating, which indicates excellent customer service and operational transparency. BCA ratings are highly regarded, as they focus on evaluating businesses based on customer satisfaction and service quality.
Better Business Bureau (BBB): A+ Rating but No Accreditation
Cornerstone Asset Metals holds an A+ rating from the Better Business Bureau (BBB), reflecting a positive track record when it comes to customer service and business practices. However, the company is not BBB accredited, and there are currently no customer reviews or complaints listed on the BBB website. While an A+ rating is impressive, the lack of reviews on such a major platform could raise questions for potential investors seeking more robust feedback.
Mixed Reviews on Birdeye: 3.3-Star Rating
On Birdeye, the company holds a 3.3-star rating, based on a small number of reviews. While this suggests some level of customer dissatisfaction, it’s worth noting that only a few users have provided feedback. Some grievances may be due to misunderstandings or isolated issues rather than reflecting a broader trend.
Limited Presence on Major Platforms
One of the most significant drawbacks when evaluating Cornerstone Asset Metals is its limited online presence. The company does not have significant reviews on platforms like Trustpilot, which makes it harder to gauge the overall customer experience.
What Do These Ratings Mean for Investors?
When it comes to choosing a precious metals investment company, Cornerstone Asset Metals has a mixed reputation. It’s clear that some investors have had very positive experiences, particularly those who value ethical business practices and solid customer service. However, the lack of reviews on mainstream platforms and the relatively low rating on Birdeye suggest that the company could benefit from more transparency and a broader online presence.
Overview of Cornerstone Asset Metals Reviews:
Positives:
– Strong 5-star ratings on TrustLink.
– AAA rating from the BCA, indicating high customer satisfaction.
– A+ rating from the BBB, showing a good business track record.
Negatives:
– No BBB accreditation and limited customer reviews on major platforms like Trustpilot.
– A 3.3-star rating on Birdeye, indicating mixed feedback.
– Limited online visibility, making it hard for potential customers to assess widespread customer sentiment.
If you’re considering investing in precious metals, Cornerstone Asset Metals may be a solid option if you value ethical business practices and personalized customer service. However, the limited presence on major review platforms and mixed feedback on sites like Birdeye suggests you should proceed with caution. It’s essential to conduct thorough due diligence before making significant investment decisions. If you’re someone who prioritizes a company with a large number of reviews and visible customer feedback, you may want to look at other options or wait until more reviews are available for Cornerstone Asset Metals.
Are There Any Lawsuits Against Cornerstone Asset Metals?
In 2021, the company faced a government action in Minnesota.
There, the state government has its own set of laws governing bullion sales. You cannot sell bullion in the state without obtaining a license and completing documentation with the Department of Commerce.
Cornerstone Asset Metals agreed to a Consent Order with the Minnesota DOC. There were suspicions that gold bullion was sold without the company first completing out the necessary papers for registration. There were also charges that when a request for information was issued to the corporation, the company failed to disclose entire information.
In response, Cornerstone Asset Metals agreed to pay $10,000 in civil penalty. While that isn’t the harshest penalty available, it is quite severe. They also promised to pay the $225 investigation fee and to stop breaching any state statutes.
When national bullion dealers fail to conduct due diligence in Minnesota, they frequently find themselves in hot trouble. If they don’t realize they need to register, they may wind up breaking the law unknowingly. This is an action that indicates ignorance rather than malice. But, given that Cornerstone Asset Metals appears to be a small company, the civil penalty is hefty.
However, the company hasn’t faced any consumer lawsuits.
That’s a major green flag.
Whenever you’re interested in checking the legal history of a company, it’s best to follow these steps:
To check for lawsuits or legal issues against a gold IRA company, you can follow these steps:
1. Search Legal Databases
– PACER (Public Access to Court Electronic Records): PACER is an electronic public access service that provides case and docket information from U.S. federal appellate, district, and bankruptcy courts. You can search for lawsuits involving specific companies.
– [PACER](https://pacer.uscourts.gov/)
– Justia: A legal information website where you can search for lawsuits and legal cases involving companies or individuals.
– [Justia](https://www.justia.com/)
2. Better Business Bureau (BBB)
– Visit the BBB website and check the profile of the gold IRA company. The BBB often lists consumer complaints, disputes, and any legal actions filed by customers.
– [Better Business Bureau](https://www.bbb.org/)
3. State Attorney General’s Office
– Each state has an Attorney General’s office, which handles consumer complaints and fraud. You can search their databases for investigations or lawsuits filed against companies. Some states provide online resources to check for company violations.
– Example: California Attorney General’s website offers a search feature.
– [National Association of Attorneys General](https://www.naag.org/)
4. Consumer Financial Protection Bureau (CFPB)
– The CFPB allows you to search for complaints and legal actions related to financial services, including gold IRA companies.
– [CFPB Complaint Database](https://www.consumerfinance.gov/complaint/)
5. Online News and Legal Review Websites
– Use platforms like Google News or legal review sites like Top Class Actions to search for any reports of lawsuits or legal disputes involving the company.
– [Top Class Actions](https://www.topclassactions.com/)
– [Google News](https://news.google.com/)
6. Review Platforms (Trustpilot, Yelp, etc.)
– Check for customer reviews on platforms like Trustpilot, Yelp, or even Google Reviews. Sometimes, customers mention legal disputes or lawsuits in their reviews.
7. Consult a Lawyer or Financial Advisor
– For a thorough background check, consider consulting a lawyer who specializes in financial or investment fraud. They can help you check legal databases and provide a more detailed report.
By combining these resources, you can get a comprehensive view of any potential legal issues associated with a gold IRA company.
Cornerstone Asset Metals Pros and Cons:
Here are the pros and cons of investing with Cornerstone Asset Metals, based on their services, customer feedback, and industry practices.
Pros of Cornerstone Asset Metals
1. Precious Metals Expertise
Cornerstone specializes in precious metals like gold and silver, with a focus on helping investors diversify their portfolios. Their expertise in this area, led by Terry Sacka, AAMS, provides valuable insights into the metals market and strategies for hedging against inflation.
2. Retirement Focused Services
They offer a variety of services specifically aimed at retirement accounts, including Gold IRAs and Silver IRAs. They help clients roll over their 401(k) or IRA into precious metals, making it easier for investors to safeguard their retirement funds.
3. Educational Resources
Cornerstone emphasizes investor education through a wide range of resources such as their RIGGED podcast, Wealth Transfer TV, and detailed articles on economic topics. This approach helps investors stay informed about market conditions and how precious metals can be a protective asset.
4. Personalized Consultations
They offer one-on-one wealth advisory services, where clients can discuss their specific investment needs and receive personalized advice on how to integrate precious metals into their portfolios.
5. Focus on Tangible Assets
Cornerstone advocates for investing in physical assets (gold and silver) rather than paper assets (stocks, bonds). This can appeal to investors concerned about economic instability or the weakening of fiat currencies.
Cons of Cornerstone Asset Metals
1. Limited Investment Products
While Cornerstone focuses heavily on gold and silver, it lacks diversification into other investment products, such as platinum, palladium, or other types of assets. This may not suit investors looking for broader diversification.
2. Heavy Focus on Silver
Cornerstone promotes silver as a major investment strategy, which may not align with all investors’ preferences. Some might want a more balanced approach across various precious metals.
3. Market Volatility
Like other precious metals firms, Cornerstone’s investment model is subject to the volatility of the gold and silver markets. While precious metals are seen as a safe haven, their prices can fluctuate significantly, which could result in losses if sold during a downturn.
4. Aggressive Economic Pessimism
Their marketing often emphasizes economic collapse or instability (e.g., concerns about the end of fiat currencies or the U.S. dollar), which might be seen as overly pessimistic by some investors. This messaging can create a sense of urgency that might not appeal to everyone.
Cornerstone Asset Metals Review: Conclusion
Cornerstone Asset Metals can be a good choice for investors seeking to diversify their portfolios with precious metals, particularly those who are looking for a strong focus on gold and silver. However, potential investors should weigh the benefits of their specialized focus against the volatility of the precious metals market and the potential for high fees.
For those who want to hedge against economic instability with tangible assets, Cornerstone may offer appealing services, but it’s important to fully understand the associated risks and costs before committing.
