Is Regal Assets a Legit Company?

Is Regal Assets a Legit Company?

EXTREMELY IMPORTANT: Since writing this review, Regal Assets has had a TON of negative feed. Even more than we have covered in this review. Over the second half of 2022 there have been many extremely negative and disturbing reviews about the Regal Assets company. We will be stripping ALL links to Regal Assets and we DO NOT recommend them at all. It's very obvious that something big changed with this company (the owner has disappeared). IGNORE all information about Regal Assets in this review until we are able to change it. Again, do NOT do business with Regal Assets.

When you're thinking about purchasing precious metals for retirement, you want to pick the right company. Regal Assets is a company that combines precious metals and cryptocurrency IRAs, helping people connect with a variety of assets. While they've had a good reputation for the past several years, there have been a few issues in the most recent months.

So is this company actually legitimate? What do past customers have to say, and what should you know before you get involved?

See if Regal Assets made our top 5 companies this year...

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  • Product: Precious metals
  • Owner: Tyler Gallagher
  • Overall Rating: 1.0/5

Is Regal Assets a Legit Company?

Is Regal Assets a Legit Company?

Regal Assets is a legit company. For several years, they have been considered one of the best places to turn if you want a combination cryptocurrency and precious metals IRA. With that said, there have been some potential issues over the past year.

The company's performance seems to have slipped during the past year. They used to have an A+ rating with the Better Business Bureau, but now the BBB gives them an F rating.

This is because they haven't responded to two complaints, there are nine unresolved complaints, and 20 complaints have been filed in the past year alone. Comparatively, only one complaint had been filed in the past two years combined.

Many of the complaints were filed starting in July of 2022 and have continued to be filed going forward. When the company responds to them, they just say that the complaint has been forwarded to the company team to work on. But several customers indicated that the cases had not been pursued. They went for several weeks without hearing anything specific from the company, and they believed that the responses were a way of stalling.

Specific Complaints

Let's take a look at a few of the specific complaints that have been filed, particularly the ones that haven't received an official response. Some have not been answered at all. Most have received an answer, but it's one line that just indicates that the company is working on resolving the issue.

Unanswered Complaint

One unanswered complaint was filed on September 15, 2022. The customer said that they bought precious metals using Regal Assets more than a year prior. In August of 2022, they requested that they sell their funds and receive distributions. But they weren't given any answer from their initial sales rep and had to repeatedly phone stalk the company to get in contact.

Three weeks later, the customer finally got a call from the CEO of the company. The CEO said that the initial sales rep had been fired, and that the CEO himself would be part of the transaction. But then he failed to follow up, never returning the customer's calls or the emails that they sent each day.

The customer said that they were wholly dissatisfied, and if the company did not make an effort to resolve the issue within 10 days, they would place their assets with a different company. When they tried to call Regal Assets on the day that they filed their complaint, the company's office was closed.

Regal Assets never responded to this complaint, and it has been well over ten days since it was filed. The customer has not followed up to indicate whether they were able to successfully remove their assets.

Nine Months of No Delivery

One of the most recent complaints was filed in September of 2022 regarding a purchase that had been made in January of the same year. The customer had rolled over their IRA funds in order to make a purchase with Regal Assets. At the time, the customer said that the company was highly rated.

The customer didn't like that the IRS requires people to keep their holdings in a depository instead of at home. However, they were reassured that they could take possession of the holdings at any time. The IRA funds were supposed to buy precious metals that would be delivered to the depository of their choice within a few weeks.

January of 2022 was when the purchase was finalized and paid for. But as of September, no metals had ever been shipped to the depository. The customer couldn't get in contact with any representatives at the company, not even the person who had initially sold them the package.

The customer stated that they wanted to have their purchase fully refunded because they wanted to invest with a different precious metals company. They added that they were heartbroken by this complaint because they had felt so safe and comfortable during the initial transaction. There had never been any indication that the company might not follow through with its promises.

Regal Assets responded to say that the complaint had been forwarded to the company owner for review. But the customer said that they did not accept this response. They considered it stalling, and pointed out that it's not legal to hold their funds without giving the customer access.

There has not been any followup on whether the customer was able to get a refund or whether they finally got their precious metals.

Pending Account Status

One complaint was filed in September of 2022 regarding a transfer that had been made back in 2021. At that time, the customer had transferred their retirement holdings into a gold IRA using the Regal Assets services. The custodian of the account was Kingdom Trust.

At some point in 2022, the customer was told that their account status was "pending" regarding their precious metals. They got in contact with Regal Assets to find out what was going on. The company representative said that the metals had been placed in a depository, but they had yet to be labeled with the customer's account info.

The customer requested that this problem be resolved. But for some reason, Regal Assets wouldn't solve the issue. It got to the point that Kingdom Trust got involved to try to get the customer's assets back from Regal, because they said that the gold order had never been placed.

The CEO of Regal Assets got in contact with the customer and said that the involved sales representative had been fired because the customer's money had been placed into the wrong account. The customer was promised that their funds would be made available immediately. But weeks went by without them hearing anything more, and the CEO would not return the emails or phone calls that were left.

The customer said that they had spent $75,000 on precious metals that had never been deposited into their account. Regal responded to say that a team at the company was looking into the situation. But the customer responded a week later to say that the business had never reached out to them, and that they were dissatisfied with the service thus far.

Nearly $500,000 Missing

One complaint was left on the last day of August in 2022. The customer had made a purchase in March of 2021 for more than $500,000 dollars. These assets had rolled over from a Vanguard IRA and were meant to be maintained by Kingdom Trust.

In July of 2022, the customer was informed that about $485,000 of the holdings had not been used to buy precious metals at all. Instead, Regal Assets held onto the money. The account status for the funds was shown as "pending." Upon learning about this, the customer asked that Regal Assets buy back their precious metals and transfer all of their funds back to Vanguard.

The customer had requested that their money be returned several times. In addition, Vanguard IRA had tried to get in contact with Regal Assets. As of the time writing the complaint, the customer said that it had been over seven weeks. They also said that the metals that were purchased were overpriced, and that the distribution of gold and silver did not follow the customer's instructions.

The customer concluded by saying that they believed this was a total failure of a practice and that they wanted their full purchase amount to be transferred back immediately. Regal Assets responded to say that the team was checking on the issue. But they never followed up with a solution, and the customer never followed up to indicate whether or not the problem was resolved.

Missing Delivery

Another complaint from the end of August is from a customer who alleges that the company participated in fraud. They said that they bought two orders in May of 2022 for about $30,000. At the time that the order was placed, the customer was told that their precious metals would be delivered to the depository in six weeks.

But three months had gone by without any metals being delivered. The customer said that they believed they had been purposefully defrauded of their assets without any intention to deliver. Apparently the customer's bank had told them that several other Regal Assets customers were also having issues.

Regal Assets responded to say that the team was looking into the issue. But the customer followed up three weeks after their response to say that the company had not delivered the precious metals or refunded their money. In addition, the company had failed to get in contact with the customer or to respond to their complaint as promised.

Regal Assets Services

Is Regal Assets a Legit Company?

Regal Assets has several services available. The company's main priority is IRAs. These are specially advantaged retirement accounts that can hold a variety of different assets. Self-directed IRAs can hold alternative assets like precious metals and cryptocurrency.

The team at Regal Assets will help you open an IRA and invest in cryptocurrency and precious metals. They have a variety of crypto and metals options to choose from, spanning staples like Bitcoin and Ethereum to altcoins like Dogecoin. There are gold, silver, and platinum items available that are compliant with the purity regulations for an IRA.

There are also precious metals and cryptocurrency products available to buy with cash. Since these purchases don't use retirement funds, they aren't subject to the same fees or regulations. You can have the cryptocurrency transferred to your digital wallet and have the precious metals shipped in a fully insured package right to your doorstep.

The cost of storage and maintenance for non-IRA purchases is free. If you do buy precious metals for an IRA, you'll need a custodian and an accredited depository, both of which come with fees. The Regal Assets structure has a flat fee of $150 for a segregated storage vault and $100 for annual custodian maintenance. There are no transfer fees when you want to liquidate your metals and take distributions from your account.

Available Products

Is Regal Assets a Legit Company?

Regal Assets does not post their pricing online, so you'll need to get in contact with the company to get a price quote. They do have a section of their website that shows what precious metals and cryptocurrency products are in stock. The available products will vary depending on consumer demand and supply chain issues, but many of the most popular ones should be available frequently.

The gold products include bars and coins, with the bars ranging from a kilogram to one gram in size. There are gold coins from the US Mint, Canada, the UK, South Africa, China, and Austria. Gold is the most robust offering as far as precious metals go.

When it comes to silver, there are fewer products. You can buy two types of silver bar, one of which is 10 ounces and the other of which is 100 ounces. Then you can buy several coins from the US, Canada, Austria, Australia, and the UK.

There are only a very few platinum products. Rather than having platinum bars, the company just offers three platinum coins. These are the Canadian Maple Leaf, Australian Koala, and American Eagle. All three of these coins are also available in gold and silver variations as well.

Regal Assets sometimes offers palladium products as an option, though their availability fluctuates. There's a Canadian Maple Leaf that can be purchased in palladium, as well as two bars, one of which is one ounce and the other of which is ten ounces.

The cryptocurrency offerings are extremely diverse. In addition to offering the staples of Bitcoin and Ethereum, there are 21 altcoins available. Some of these coins have made the news, while others are relatively unknown to all but the most hardcore investors. You can talk to a Regal Assets associate about the different options, how they work, and which investments are ideal for your personal goals.

Final Thoughts

Regal Assets was a legitimate company with a solidly established history in the business. It was a very popular option for people who want to buy both cryptocurrency and precious metals for retirement.

However, the company has had an influx of complaints and issues over the past year, many of which have yet to be resolved. There's no explanation as to why this is. But until the company gets its policies in order, it might be better to work with a top recommended option one of the companies in our top 5.

See if Regal Assets made our top 5 companies this year...

>> See Our Top 5 Precious Metals Investment Companies For This Year <<

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