At the end of the day, all people really want to do is feed their family and live a decent lifestyle. With the economy bouncing back and forth between highs and lows, many are wondering if this will even be possible in the future. This has led many look in to investments to secure both security for the family and security for the future. One of the most interesting trends in the investment field is the high uptake of buying gold and other precious metals. Many are rolling over funds from their Individual Retirement Accounts to a gold based IRA. Gold is great at keeping value through even the worst economic times. Gold Star Trust is a company that can help a person both invest in gold and roll over an IRA. However, it is a good company to use?
The truth behind Consumer Advocacy
Gold Star Trust holds a high rating with the Better Business Bureau. This organization has been around since the early 20th century, ostensibly to help consumers separate a bad business from a good one. However, there are some chinks in the BBB armor that most don’t realize.
When a company like Gold Star Trust, also known as Happy State Bank & Trust, wants to receive an A+ rating, the company has to pay the BBB a fee to become accredited. Only after accreditation can a company receive that A+ rating. Many have postulated this leads to a company buying their own good rating. There are also six complaints listed against Gold Star Trust on the BBB website. These complaints show a bit more about the company, since they revolve around service issues. One must wonder how these complaints were closed and if it was in favor of the consumer.
The Complaints Board is a well-respected online consumer review board. When searching for information on Gold Star Trust, one complaint comes up in connection with another gold IRA company. This complaint is serious and zeros in on the lack of customer care some companies have. A customer claims that Gold Star Trust used another company to help buy the gold for his gold-based IRA. This company seems to have acquired the funds but offered no gold in return. The funds from the IRA just disappeared. When the customer contacted both companies, they each gave him a run around. Because of this, the customer has started a class action lawsuit against both companies.
Reviews on the Internet
The Website Yelp has similar stories to tell. One customer found the staff of the company to be polite but without knowledge or professionalism. Although he doesn’t say the company is trying to scam him, the times for his transactions take an unbearably long time. This doesn’t sit well with the customer. Another consumer states that people using the company should only invest in bullion and not coins. The fees that the company takes when liquidating is around thirty-five percent of whatever the value of the coins are worth. These small reviews just help to paint a picture of the company that isn’t altogether pleasant.
Not all is bad
Of course, these are only the opinions of people who might have alternative reasons to criticize the company. It’s hard to say why someone would write a bad review on different sites. Gold Star Trust seems to have a good reputation among the peers in the industry. There are also many positive reviews about the company in other parts of the World Wide Web. These reviews help balance out the criticism that is found from sites that center on consumer complaints. Keep in mind that the Better Business Bureau also rates the company highly, despite the complaints that are leveled at the company.
Some Final Words
Does the positive outweigh the negative? That is something each individual must decide for him or herself. It is prudent to keep both in mind when researching a company to roll over an IRA. The negatives comments often come from frustration when a company doesn’t respond to consumer complaints. On one hand Gold Trust seems to be popular and well liked. On the other hand, there is a dark underside that rarely is addressed.