Mountain West IRA Reviews: Fees, Complaints, Lawsuits, and More

Mountain West IRA: Unique Highlights Overview

Mountain West IRA is a leading independent self-directed IRA and 401(k) administration company that specializes in record-keeping services for individuals and small business owners. 

Find the Best Gold IRA Company of Your State

• Diverse Investment Options: Mountain West IRA allows clients to invest in a wide range of alternative assets, including real estate, promissory notes, private placements, and precious metals, providing flexibility beyond traditional investment choices.
  
• Transparent Fee Structure: The company offers a clear and cost-effective fee schedule, including a one-time setup fee, annual account maintenance fees, and a termination fee, ensuring clients are aware of costs upfront.
  
• Expedited Transaction Processing: Standard transactions are processed within three business days, with an option for 24-hour expedited processing for urgent investments, enhancing client convenience.
  
• Educational Resources: Mountain West IRA provides clients with access to educational materials, including webinars, guides, and live workshops, empowering investors to make informed decisions about their retirement planning.
  
• Advanced Security Measures: The company prioritizes the security of clients’ personal and financial information by implementing advanced encryption protocols, ensuring data protection and client trust.
  
• Personalized Customer Service: Clients receive dedicated support from a knowledgeable team, assisting with account setup, investment processes, and compliance, fostering a personalized and responsive client experience.
  
• Positive Client Reviews: Mountain West IRA has received high ratings from clients, reflecting satisfaction with their services and support.
  

These unique features position Mountain West IRA as a versatile and client-focused option for individuals seeking to diversify their retirement portfolios through self-directed IRAs.

Who are the People Behind Mountain West IRA?

Mountain West IRA is led by a dedicated team of professionals committed to providing exceptional self-directed IRA and 401(k) administration services. The key individuals behind the company include:

Leadership Team:

• Jon Galane – Principal
  
  • Background: Jon A. Galane founded Mountain West IRA in April 2006, bringing over 32 years of investment experience. He is a registered member of the American Banking Association and sits on the National Association of Securities Dealers. 
• Lisa Galane – Principal
  
  • Background: Lisa Galane co-founded Mountain West IRA with Jon. She manages the company’s compliance, client services, and procedural operations, ensuring efficient and effective service delivery. 
• Karen Georgeson – Chief Operations Officer
  
  • Background: Karen oversees the daily operations of Mountain West IRA, ensuring that all processes align with the company’s standards and client expectations. 
• Shelly Smith – Chief Financial Officer
  
  • Background: Shelly manages the financial aspects of the company, including budgeting, financial planning, and analysis, contributing to the organization’s fiscal health. 

Certified IRA Services Professionals (CISP):

Mountain West IRA prides itself on having team members who are Certified IRA Services Professionals, demonstrating their up-to-date knowledge on industry laws and regulations:

• Jon A. Galane
• Karen Georgeson
• Diana Hoff

Each department plays a crucial role in delivering comprehensive services to clients, ensuring a seamless experience in managing their self-directed retirement accounts. 

Does Mountain West IRA Offer IRA Services?

Yes, Mountain West IRA offers Gold IRA services through their self-directed Precious Metals IRAs, allowing clients to diversify their retirement portfolios by investing in physical gold and other precious metals.

Key Features of Mountain West IRA’s Gold IRA Services:

• Diverse Precious Metals Options: Clients can invest in gold, silver, platinum, and palladium bullion, providing a range of choices to suit individual investment strategies.
  
• Physical Asset Ownership: Investors hold tangible assets, offering a hedge against economic uncertainties and inflation.
  
• IRS-Approved Metals: Mountain West IRA ensures that all precious metals meet IRS requirements for inclusion in self-directed IRAs, maintaining compliance with regulations.
  
• Secure Storage Solutions: The company provides options for allocated or unallocated storage of precious metals, safeguarding clients’ investments.
  
• Educational Support: Mountain West IRA offers resources to help clients understand the process and benefits of investing in precious metals within their retirement accounts.
  

How It Works:

1. Open a Self-Directed IRA: Establish an account with Mountain West IRA to gain control over investment choices, including precious metals.
   
2. Fund the Account: Transfer or roll over funds from an existing retirement account into the new self-directed IRA.
   
3. Select Precious Metals: Choose from IRS-approved gold, silver, platinum, or palladium products to include in the IRA.
   
4. Purchase and Storage: Mountain West IRA facilitates the purchase and ensures secure storage of the metals in compliance with IRS regulations.
   

By offering Gold IRA services, Mountain West IRA enables clients to diversify their retirement portfolios with physical precious metals, providing potential protection against market volatility and economic downturns.

What Products Can You Purchase at Mountain West IRA?

Mountain West IRA offers a diverse range of investment options through self-directed retirement accounts, enabling clients to tailor their portfolios according to individual financial goals and risk tolerance. Here’s an overview of the products and investment opportunities available:

Real Estate Investments

• Types of Real Estate: Clients can invest in various real estate assets, including single-family and multi-unit homes, apartment buildings, rental properties, tax deeds/liens, and improved or unimproved raw land.
  
• Benefits: Real estate investments offer potential appreciation and income, providing a tangible asset class within a retirement portfolio.
  

Promissory Notes

• Secured and Unsecured Notes: Investors can include promissory notes in their IRAs, acting as the lender and earning interest income over time.
  
• Benefits: Promissory notes can provide a steady income stream and diversify investment holdings.
  

Private Placements

• Private Equity and Debt Offerings: Opportunities to invest in private companies, startups, or other private entities through equity or debt instruments.
  
• Benefits: Potential for significant returns by investing in early-stage companies or private ventures.
  

Precious Metals

• Approved Metals: Investments in IRS-approved precious metals, including gold, silver, platinum, and palladium, are permissible within self-directed IRAs.
  
• Benefits: Precious metals can act as a hedge against inflation and economic uncertainty.
  

Other Alternative Assets

• Limited Partnerships: Participation in limited partnerships allows for investment in various ventures without direct management responsibilities.
  
• Tax Liens: Investing in tax liens can offer high-interest returns secured by real property.
  
• Private Lending: Clients can act as private lenders, providing loans to individuals or businesses and earning interest income.
  

Account Types Offered

• Traditional IRA: Tax-deferred retirement savings with potential tax deductions on contributions.
  
• Roth IRA: Contributions are made with after-tax dollars, allowing for tax-free withdrawals in retirement.
  
• SEP IRA: Simplified Employee Pension plan for self-employed individuals or small business owners.
  
• SIMPLE IRA: Savings Incentive Match Plan for Employees, suitable for small businesses with fewer than 100 employees.
  
• Individual 401(k): Retirement plan for self-employed individuals or business owners with no full-time employees.
  
• Health Savings Account (HSA): Tax-advantaged medical savings account available to individuals enrolled in high-deductible health plans.
  

Considerations

• Due Diligence: Investors are responsible for conducting thorough due diligence on all potential investments to ensure they meet individual risk tolerance and investment criteria.
  
• IRS Regulations: Certain investments may be subject to specific IRS rules and regulations; it’s essential to understand these guidelines to maintain the tax-advantaged status of the retirement account.
  

By offering a broad spectrum of investment options, Mountain West IRA empowers clients to diversify their retirement portfolios beyond traditional assets, potentially enhancing returns and achieving financial objectives.

Mountain West IRA Fees and Pricing:

Mountain West IRA offers a transparent and flexible fee structure for their self-directed retirement accounts, allowing clients to choose between a value-based fee model and a flat annual fee model. Here’s a detailed breakdown of their fees and pricing:

Account Setup and Termination Fees

• Account Establishment Fee: A one-time fee of $50 is charged to set up a new self-directed IRA account.
  
• Account Termination Fee: A fee of $150 is applied when closing an IRA account, covering the administrative costs associated with account closure.
  

Annual Account Maintenance Fees

Clients have the option to select between two fee structures:

• Value-Based Fee Structure: Annual fees are determined based on the total value of the IRA account, with higher account values benefiting from lower marginal rates.
  
  • Account Value: $0 – $24,999: Minimum annual fee of $200
    
  • $25,000 – $49,999: Marginal rate multiplier of 0.01; fees range from $200 to $450
    
  • $50,000 – $99,999: Marginal rate multiplier of 0.005; fees range from $450 to $700
    
  • $100,000 – $249,999: Marginal rate multiplier of 0.00266; fees range from $700 to $1,100
    
  • $250,000 – $499,999: Marginal rate multiplier of 0.0022; fees range from $1,100 to $1,650
    
  • $500,000 – $750,000: Marginal rate multiplier of 0.0008; fees range from $1,650 to $1,850
    
  • $750,000 and above: Maximum annual fee capped at $1,850
    
    
• Flat Annual Fee Structure: Alternatively, clients can opt to pay a flat fee of $75 per quarter for each asset held in the account.
  
  • Maximum Quarterly Fee: Capped at $462.50
    
  • Maximum Annual Fee: Approximately $1,850
    

Additional Service Fees

• Expedited Transaction Processing: For urgent investment transactions requiring faster processing, an expedited service is available. Standard transactions are typically processed within three business days, while expedited processing can be completed within 24 hours. Additional fees may apply for this service, varying based on the complexity and requirements of the transaction.
  
• Specialized Asset Services: Services such as real estate processing and private lending may incur additional fees, which vary based on the complexity and specific requirements of the investment. Clients are encouraged to consult with Mountain West IRA directly to obtain detailed information tailored to their investment needs.
  

Fee Calculator

To assist clients in estimating potential costs, Mountain West IRA provides a Self-Directed IRA Fee Calculator. This tool enables investors to compare custodial fees based on their retirement strategies and investment preferences, facilitating informed financial decisions and cost-effective retirement planning. 

Considerations

• Fee Transparency: While Mountain West IRA offers a clear fee structure, some specific fees may not be readily available on their official website. Prospective clients are advised to contact the company directly for comprehensive and up-to-date fee information.
  
• Competitive Pricing: Mountain West IRA’s fees are competitive within the industry, providing clients with flexible options to choose a fee structure that aligns with their investment strategies and account values.
  

By offering both value-based and flat fee structures, Mountain West IRA accommodates a diverse clientele, allowing investors to select the pricing model that best suits their individual retirement planning needs.

What Do Mountain West IRA Reviews Say?

Mountain West IRA has received favorable ratings across various review platforms, reflecting a strong reputation in the self-directed retirement account industry. Here’s an overview of their ratings:

Birdeye

• Boise, ID Office:
  
  • Rating: 4.6 out of 5 stars
  • Reviews: Based on 101 customer reviews
  • Highlights: Clients commend the company’s expertise in facilitating real estate investments within IRAs and appreciate the prompt and accurate service. 
• Clearwater, FL Office:
  
  • Rating: 4.6 out of 5 stars
  • Reviews: Based on 22 customer reviews
  • Highlights: Customers value the knowledgeable staff and efficient processes for self-directed IRA investments. 

Google Business Profile

• Rating: 4.8 out of 5 stars
• Reviews: Based on 68 customer reviews
• Highlights: Users praise the company’s customer service and the ease of managing self-directed IRAs. 

Better Business Bureau (BBB)

• Accreditation: Not formally accredited
• Rating: A+
• Complaints: No complaints or resolutions listed
• Highlights: The A+ rating indicates a high level of trustworthiness and customer satisfaction. 

Customer Testimonials

• Positive Feedback:
  • Michael Beaulieu: Expressed satisfaction with the assistance in setting up self-directed Roth IRAs for real estate investments, recommending the company to others. 
  • Lois Rickert: Highlighted excellent service and prompt responses, noting that referred friends were also pleased with the services. 

Mountain West IRA consistently receives high ratings and positive reviews across multiple platforms. Clients appreciate their expertise in self-directed IRAs, particularly for real estate investments, and commend their customer service and efficient processes. The A+ rating from the Better Business Bureau further underscores their commitment to customer satisfaction and ethical business practices.

Examples of Their Reviews:

Mountain West IRA was their first experience with a self-directed IRA. The staff had been helpful and always prompt and courteous. They assisted in setting it up and addressed their questions. They had learned a lot about these types of investments, and it had been a positive addition to their retirement. The fees appeared to be a bit high but were likely consistent with those of other companies. They advised thorough research into types of accounts when setting them up in order to be as flexible as possible. It was important to note that they earned no interest on cash holdings. Therefore, it was best to use it only for a revolving fund for expenses and distributions.

They were very helpful, knowledgeable, and quick to respond. They were new to the self-directed IRA, so they took their time to answer all their questions and returned all their phone calls.

Why aren’t There Many Mountain West IRA Complaints?

The relatively low number of complaints about Mountain West IRA can be attributed to several factors that reflect the company’s commitment to quality service, transparency, and customer satisfaction. Here’s an in-depth analysis:

Strong Emphasis on Customer Education

• Educational Resources: Mountain West IRA provides a wealth of educational materials, including webinars, FAQs, and guides, to help clients understand self-directed IRAs and alternative investments.
• Informed Clients: Educated clients are less likely to misunderstand processes or encounter unexpected issues, which minimizes dissatisfaction and complaints.

Transparent Fee Structure

• Clear Pricing: Mountain West IRA offers a straightforward and competitive fee structure, with value-based and flat-rate options. This transparency reduces surprises and complaints about hidden fees.
• Upfront Disclosure: Costs are clearly communicated during account setup, ensuring clients are aware of all potential fees.

Exceptional Customer Service

• Dedicated Support: Each client is assigned a knowledgeable account representative who provides personalized assistance throughout the investment process.
• Proactive Problem Solving: The company actively addresses client concerns before they escalate, fostering trust and preventing negative feedback.

Flexibility and Customization

• Diverse Investment Options: Mountain West IRA accommodates a wide range of alternative investments, including real estate, private placements, and precious metals, appealing to various investor preferences.
• Tailored Solutions: The company’s ability to customize services to meet specific needs contributes to client satisfaction.

Secure and Reliable Processes

• Timely Transactions: Standard transactions are processed within three business days, with expedited options available for urgent cases.
• Compliance and Security: The company adheres to all IRS regulations and implements advanced security measures to protect client data, reducing potential for disputes.

Positive Client Experiences

• Repeat Business: Many clients report successful transactions and positive outcomes, leading to long-term relationships and word-of-mouth referrals.
• Client Testimonials: Positive feedback from satisfied clients on platforms like Google Reviews and Birdeye reflects overall contentment with the company’s services.

Proactive Complaint Management

• Issue Resolution: Mountain West IRA likely resolves most issues internally, preventing clients from taking grievances to public forums.
• Open Communication: Clients have direct access to customer service, ensuring that concerns are addressed promptly and effectively.

Niche Market with Educated Clientele

• Specialized Services: Mountain West IRA operates in the niche market of self-directed retirement accounts, attracting knowledgeable investors who understand the complexities of alternative investments.
• Informed Client Base: A more informed clientele is less likely to lodge complaints due to unrealistic expectations or misunderstandings.

A+ BBB Rating

• Trustworthiness: The company’s A+ rating from the Better Business Bureau signifies a commitment to ethical practices and customer satisfaction.
• Low Complaint Volume: The absence of BBB complaints indicates effective complaint management and high client satisfaction.

Small Business Focus

• Personalized Attention: As a smaller company, Mountain West IRA can provide personalized attention to each client, minimizing the likelihood of oversights or errors that could lead to complaints.

Mountain West IRA’s strong emphasis on education, transparency, customer service, and compliance minimizes the likelihood of dissatisfaction. The company’s proactive approach to addressing concerns and its focus on delivering tailored solutions contribute to the low number of complaints. However, as with any financial service, prospective clients should conduct their own due diligence to ensure the company aligns with their specific needs.

Are There Any Mountain West IRA Lawsuits?

No.

There aren’t any lawsuits involving this company.

Can You Trust Mountain West IRA? Is Mountain West IRA Legit?

Yes.

They are a legit company with significant experience in helping people secure their retirement savings.

Whenever you’re curious, keep these tips in mind:

Tip #1: Check Their Regulatory Compliance and Accreditation

Check for proper licensing and registration with relevant financial regulatory bodies such as the Securities and Exchange Commission (SEC) or Financial Industry Regulatory Authority (FINRA).

Verify the company’s accreditation with industry organizations like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).

It will help you check how credible they are.

Tip #2: Look into The Company’s Background

1. Research the company’s history, including years in business and any name changes.
2. Examine the Better Business Bureau (BBB) rating and accreditation status.
3. Review customer feedback on reputable third-party review sites like Trustpilot or Consumer Affairs.

Tip #3: Does the Company Offer Good Resources?

1. Assess the clarity of information provided about fees, storage options, and buyback policies.
2. Evaluate the quality and depth of educational resources offered to investors.
3. Verify that the company provides clear information about IRS regulations regarding precious metals IRAs.

Tip #4: What are Their Product Offerings and Pricing?

1. Ensure the company offers IRS-approved precious metals for IRA investments.
2. Compare pricing with other reputable dealers to ensure competitiveness.
3. Be wary of companies pushing numismatic or collectible coins over bullion for IRA investments.

Tip #5: Confirm the Storage and Custodian Partnerships

Verify that the company works with IRS-approved custodians and secure storage facilities. According to IRS’ regulations, you cannot store your gold IRA’s precious metals at your home.

You’ll need a certified third-party storage provider.

Check the company’s storage and custodian partner to ensure you’re working with a reliable firm. Moreover, ensure they offer segregated storage options for your precious metals.

Segregated storage means your owned precious metals products will be stored separately from other investors’ possessions. Similarly, non-segregated storage means your products will be stored along with others.

Keep in mind that storage providers charge extra for segregated storage.

Some popular custodians include Equity Trust and Goldstar Trust.

Red Flags to Watch For in Gold IRA Companies

1. Promises of guaranteed returns or claims of “secret” investment strategies.
2. Pressure to act immediately or make large investments without proper consideration.
3. Lack of physical address or unclear company ownership structure.
4. Unwillingness to provide detailed information about fees or policies in writing.

By thoroughly evaluating these aspects, investors can make an informed decision about the legitimacy and reliability of a gold IRA company. It’s crucial to conduct due diligence and, if necessary, consult with a financial advisor before making any investment decisions.

Mountain West IRA Review Summary:

Overall, Mountain West IRA seems like a reliable brand.

They have established themselves as a prominent name in this market.

What are your thoughts on this firm? Let us know in the comments.

Mountain West IRA Reviews: Fees, Complaints, Lawsuits, and More

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