Why Fiduciaries Must Bring Up Gold

As a fiduciary, you must talk about gold and silver with clients. Just yesterday, an advisor called. This advisor has been affiliated with USGSA and National Gold Consultants for roughly two years–he “gets it.” If I were in search of an advisor for my personal finances, he would top the list.

A prospective client scheduled an appointment with him, because he mentioned gold and silver among his product offerings at a workshop. After working diligently his entire life, the potential client was looking into income planning for his fast-approaching retirement. During the initial asset discovery, the advisor found the client placed the majority of his hard-earned money into physical gold and silver during the 2008 recession. The 2008 crash was an excellent time to purchase precious metals. However, the client’s wealth is nearly destroyed because he placed trust in the wrong hands.

Advisors and clients alike are often unaware most every gold and silver companies operate completely unregulated. Becoming a precious metals dealer in most areas requires nothing, no background checks, not even a high school diploma. Scams plague the gold and silver industry and have for years. Everything from companies in possession of your money closing down, over-priced coins, bait and switch tactics, and improper advice by not acting as a fiduciary.

I am not attempting to scare you or your clients. I am attempting to you equip you to protect your clients. You must bring up metals to each of your clients and every prospective client coming through your door. Your clients cannot make the same mistake this gentleman did. I have seen every coin he purchased and he was assuredly taken. Companies can disguise obscure coins as “collectibles” and sell them for as much as 1000% their actual values as in this unfortunate case. At National Gold Consultants, we sell general run of the mill, circulated older American coins for this very reason (wealth insurance). You cannot fake circulation and you can easily know the coin’s value. We protect our advisors and clients.

The nearly 300k this client place into metals in 2008 would be between 550-600k if positioned with National Gold Consultants. Sadly, we will be hard-pressed to find between 50-60k in value for this client.

Here, NGC comes in to play–a bright spot in a dark industry. National Gold Consultants is proudly one of the only licensed, bonded, and insured wholesale gold and silver companies in the country. We exclusively work with financial advisors and insurance producers acting as fiduciaries so clients can rest assured they receive the best allocations and advice. Regardless of your personal opinion on gold and silver, you MUST let your clients know you have an option for metals. It is your fiduciary responsibility to take care of them.

Give us a call today to become affiliated or learn more. Remember, there is no extra licensing required to offer gold and silver to your clients. Our models have changed and show an extreme upside in the short future, an upside making the 2008 rally of over 400% in metals looks small.