- 17 Aug 2021
- Precious Metals
- Comments: 0
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Fortress Gold Group is one of many online precious metals dealers offering gold, silver, and other metals. They have a surprisingly diverse marketplace and solid online customer feedback. Should you invest?
Unfortunately, as of 2021, the company isn't taking on any new clients. They have also let their website security registration expire, which indicates that they aren't paying to maintain their site. Existing customers are able to email the support team, but there's no information on whether you can still purchase precious metals.
It's difficult to say what's happening behind the scenes of the company. Their BBB page is still active, indicating that they haven't officially disbanded. But we aren't sure whether they plan to go back to providing services anytime soon.
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About Fortress Gold Group
Fortress Gold Group is a California-based precious metals dealer that has been in the business since 1995. With more than a quarter century of experience, it's one of the longer-running precious metals dealers on the market. In 2007, the company became privately held.
The firm specializes in buying and selling precious metals. They aren't taking on new clients right now, so if you're looking for a precious metals dealer, you'll need to go elsewhere.
The company's precious metals offerings include palladium, platinum, silver, and gold. Some of the coins and bars are eligible for an IRA, meaning that they comply with the IRS's strict guidelines.
The company doesn't put their pricing or fees online, which is a bit of a red flag. It's best to work with companies that are transparent about their pricing from the beginning.
Is Fortress Gold Group a Scam?
Fortress Gold Group is not a scam. This is a legitimate business with a long history in the precious metals industry. You can find verifiable information about good experiences that customers have had in the past, and they have a good rating with third parties like Trustlink.
There are no customer complaints about fraud or scam-like practices. We haven't been able to find anything indicating that the management is anything but excellent.
That said, the online reviews are relatively limited when compared to some of the competitors on the market. And the company is no longer taking on new clients. If you want to purchase precious metals, you'll have to do so with another company instead.
But by looking at the good in Fortress Gold Group, you'll know what to look for when you search for the perfect precious metals firm for your investment needs.
One potential red flag is that the company is not accredited with the Better Business Bureau. This is unusual for a business that's been operating for over 25 years. There's also very little information about why the company has stopped taking on new customers.
The BBB gives the company a B- rating based on how they've handled complaints. There are no customer reviews on the BBB website, but there has been one complaint closed within the prior three years. No complaints have been filed in the last year.
The complaint was filed in 2019 and was related to an issue with a product or service.
The customer opened by saying that they had made an effort to contact the company through both email and phone. Not only that, but their attorney had tried to contact the company. They had not received any response.
The customer needed information about their account with the company. Instead of having helpful resources on the website, the site just directed the customer to an email address that never responded. There was also a phone number that the customer called without any response.
The customer stated that they needed to talk to someone at the company. They did not elaborate on what the problem was with their account or why their attorney was involved. There were no details indicating that Fortress Gold Group had scammed them.
Unfortunately, the complaint has gone unanswered. The company doesn't seem interested in getting in contact with this customer or explaining their side of the story.
That said, this customer is the only one who filed a complaint. There doesn't seem to be a pattern of mismanagement here, since many other people said they had a positive experience with the company.
Positive Trustlink Reviews
On Trustlink, Fortress Gold Group has a 4.9 out of 5 star rating with 23 customer reviews. This indicates that nearly everyone has had a positive experience with the company. Keep in mind that the most recent Trustlink review was written in 2015, and it doesn't look like the company has been very active in recent years.
One person said that their original investment was very small. Even though they weren't able to make a large purchase, they were treated with respect and quality customer service. They said that the service representatives answered all of their questions and seemed to care about their wellbeing.
Another person said that they did a precious metals IRA rollover using the company. We haven't been able to find information stating that the company specializes in this. But this customer said they had a good experience, with their service representatives explaining the entire process and walking them easily through it.
A few people mentioned Chris Kline by name and said that they were very happy with Chris and the company team. Chris's insight was valued by these customers, and they also said that he was honest and direct.
Perhaps most importantly, multiple customers have noted that they were new to the precious metals industry. The staff at the company was kind and knowledgeable, answering questions and offering solid advice. The customers came away feeling empowered to make their own investment decisions.
One person said that they chose Fortress after comparing several different gold IRA companies. Fortress was the only one that gave this customer a step-by-step process and seemed to be transparent about the entire thing.
That particular review was posted in 2014, though. The precious metals industry has changed a lot since then, especially online. There are many online precious metals firms today that will walk you through the IRA process step by step without any fuss or hassle.
On Trustlink, there were no negative reviews. All of the reviews were five stars except for one four star review.
On Trustpilot, the company has a rating of 4.6 out of 5 stars from an average of 37 customer ratings. This ranks as 'Excellent' with the company's rating system. 84 percent of the reviews were excellent, 13 percent were great, and just 3 percent were poor.
Let's see what the poor reviews have to say.
One two star review says that the customer had a good experience when they bought their metals. However, they said that the selling experience was not good. They were told that they'd been given the most competitive price on the market, but when they tried to sell their holdings, they lost 20 dollars per coin.
This customer wasn't able to change the price of their order since it was locked in. They said that they were disappointed in the overall outcome.
Another customer left a four star review but did have a criticism about the company's fees. He said that since he owned the gold, he didn't understand why the fees were so high. He said the company didn't seem to be providing enough of a service to charge this type of fee.
There are no other complaints on the Trustpilot page. All of the other reviews are glowing. People say that they're happy with the honesty and knowledgeability of the staff. The most recent positive review was left in 2017, so these reviews are more current than the Trustlink ones.
Several people said that the entire company team had a high level of professionalism. They were very easy to work with. When people did want to open a precious metals IRA, the company had enough knowledge to help them with the process.
Other people have said that they are new to precious metals investing, and that they're happy that the company representatives took so much time to answer questions and make them feel welcome.
Pros & Cons of Fortress Gold Group
Fortress Gold Group has a good reputation in the precious metals industry -- or at least they did. The company has since closed their doors to new clients. The security registration for their website has expired, and they do not seem interested in renewing it.
It's difficult to say whether the company is finished with the industry for good. They do say that existing customers can contact the support team with any questions and concerns. If you're already a customer, it's possible that you can still buy precious metals. But this dealership has all the hallmarks of a company that's closing up shop.
Fortress Gold Group does have good customer reviews, and their online marketplace had a wide range of different precious metals to choose from. That's part of what made them so popular. When you look for a precious metals dealer, you want one that's able to provide competitive pricing and customer satisfaction.
Even if you could invest with this company, though, they don't offer IRA services. Many people in the US choose to invest in gold through their 401(k) and IRA savings. If your dealership doesn't have IRA services to streamline the process, the paperwork and setup can become a huge hassle.
We recommend getting started with a company that has similarly glowing reviews, but is actually open. If you're planning to use your retirement funds to invest in precious metals, we definitely recommend working with an IRA specialist for the best possible experience.
Although we do think that Fortress Gold Group is a solid company, we believe that there are better companies out there to make your investment with (that are actually open).
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