Safeguard Metals Reviews

What is Safeguard Metals?Safeguard Metals Locations, Timings, Email, Phone, Services

Safeguard Metals is a company based in Woodland Hills, California. The company was established in the year 2008. The company claims that it specializes in dealing with physical bullion, specifically gold, and silver. They offer services such as shipping gold or silver directly to customers’ doorsteps or assisting with setting up gold IRAs (Individual Retirement Accounts) for clients who wish to include precious metals in their retirement portfolios.

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The company emphasizes providing a high level of service and claims to hire professionals with expertise in precious metals and a genuine interest in helping others. They state a commitment to compliance with IRC Section 408(m)(3) and the U.S. Treasury Department’s regulations for precious metals transactions. They also mention having an Anti-Money Laundering Compliance Program.

The website lacks specific details about the company’s background or the individuals involved. This lack of transparency can make it challenging to evaluate the credibility of the company and its claims. Allegations of fraud and misleading claims surrounding the company. Not any information is available about its products and services offering.

It’s important to exercise caution and due diligence when dealing with investments and to verify the credibility and legitimacy of any company or service provider before making any financial commitments.

• Address: 21550 Oxnard St Fl 3, Woodland Hills, CA 91367-7105
• Phone: 888-998-1233
• Email: [email protected]
• Website: www.safeguardmetals.com

People Behind Safeguard Metals: CEO, Owner, Co-Founders & MoreWho owns Safeguard Metals? What is the management team behind Safeguard Metals?

No information is available on its website of its founder, CEO, and other team members. According to BBB, Mr. Jeffrey Santulan is the Owner of the Safegaurd Metals. While the company claims to prioritize integrity and customer service, the absence of detailed information about key individuals within the organization can be seen as a significant transparency issue.

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Transparency is essential for establishing trust between a company and its customers. In the case of Safeguard Metals, the lack of disclosure regarding the identities and qualifications of its leadership team may raise questions about the company’s legitimacy and the expertise of its personnel. Without clear information about the individuals driving the company, it becomes challenging for potential customers to assess their experience, track records, and credibility.

Additionally, a lack of transparency can hinder customers’ ability to conduct thorough due diligence. By not providing comprehensive information about its team members, Safeguard Metals limits customers’ ability to independently verify the company’s claims or research the reputation and expertise of its staff.

Overall, the lack of transparency regarding the founder, CEO, and team members of Safeguard Metals raises concerns about the company’s credibility and may discourage potential customers from engaging with them. Transparency is a vital aspect of any reputable business, particularly in the financial industry, and its absence can significantly impact trust and confidence in the services provided.

Safeguard Metals Products: Bullion Coins, Bars, And Rare CoinsAll products offered by Safeguard Metals

Safeguard Metals provides limited information available on its website for its products and offerings. The company’s website lacks an extensive product catalog. It does mention a few specific items that are available for purchase. Among the products listed on the website are Gold American Eagles, Gold Maple Leafs, Gold Arctic Fox, Silver American Eagle, Silver Maple Leaf, and Silver Rounds JFK. These products are commonly sought after by investors who are interested in owning physical bullion as part of their investment portfolio.

Gold American Eagles and Gold Maple Leafs are both popular gold coins minted by the United States and Canada, respectively. These coins are typically made of 99.9% pure gold and are often purchased for their gold content and potential numismatic value. Gold Arctic Fox appears to be a unique product offered by Safeguard Metals.

Safeguard Metals also offers silver options, such as the Silver American Eagle, Silver Maple Leaf, and Silver Rounds JFK. The Silver American Eagle is a widely recognized and highly traded silver coin produced by the United States Mint. The Silver Maple Leaf is the official silver bullion coin of Canada, known for its high purity and quality. Silver Rounds JFK likely refers to silver rounds featuring the image of John F. Kennedy, which are privately minted and typically contain 1 troy ounce of silver.

Unfortunately, without further details on its website, it is challenging to provide specific information about any particular item.

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How to Invest in Safeguard Metals IRA?Step-by-step guide for investing in Safeguard Metals IRA

However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.

Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer in your state and choose accordingly.

Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.

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Are you unfamiliar with gold IRAs? Then, check out this guide:

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Safeguard Metals Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?

One critical aspect of transparency and customer trust in the precious metals industry is the clear disclosure of fees and pricing. However, Safeguard Metals also falls short in this regard. The company’s website does not provide information about product pricing, and visitors are instructed to call the company for pricing details on each of their products. This lack of upfront pricing information can be frustrating and inconvenient for potential customers who prefer to have a clear understanding of costs before making any commitments.

In addition to the absence of transparent pricing, there seems to be an error with the “Buy Now” feature on Safeguard Metals’ website. When users click the link, instead of being directed to a smooth purchasing process, they are prompted to open an app. This technical issue suggests that the website may not be fully functional or optimized for user-friendly online transactions. The difficulty in making purchases through the website can be a significant deterrent for customers who prefer a streamlined and efficient online purchasing experience.

The combination of the lack of transparent pricing and the technical issues with the purchasing feature raises concerns about Safeguard Metals’ commitment to providing a user-friendly and transparent platform for customers. Disclosing pricing information upfront is a standard practice in the precious metals industry, and the company’s failure to do so may create a sense of unease and skepticism among potential customers. A transparent and user-friendly website is crucial for building trust and facilitating seamless transactions.

Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. Safeguard Metals on the other hand provides fewer options.

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Safeguard Metals Reviews and Complaints: BBB, Trustpilot, SitejabberRead all the Safeguard Metals reviews & complaints

Better Business Bureau (BBB):

On the BBB website, Safeguard Metals has an F rating. They are since 5 years in the precious metals industry. The business has only 5 customer reviews on this website. The company has 3.2 stars out of 5 stars ratings on BBB. A total of 11 complaints have been filed or closed in the last 3 years. This business is also not BBB accredited on Better Business Bureau website.

The BBB is a nonprofit organization that aims to promote marketplace trust by providing information and ratings on businesses based on their ethical practices and customer interactions. The BBB assigns ratings to businesses ranging from A+ (highest) to F (lowest) based on various factors. This includes complaint history, transparency, advertising practices, and more.

Trustpilot:

On the Trustpilot website, Safeguard Metals has 2 stars out of 5-star ratings based on customer reviews. There are 26 customer reviews on the website. The business has a poor rating on Trustpilot.

Trustpilot is an online platform where customers can provide reviews and ratings for businesses based on their personal experiences. A poor rating on Trustpilot indicates that a significant number of customers have expressed dissatisfaction with their interactions with a particular business. The specific criteria for a poor rating on Trustpilot can vary, as it is based on the individual reviews and feedback submitted by customers. Typically, a poor rating suggests that customers have encountered problems or issues with the business, such as poor customer service, subpar product quality, delivery problems, misleading advertising, or other negative experiences.

The poor rating on Trustpilot serves as a warning to potential customers about the business’s track record and can influence their decision-making process. It indicates that a notable portion of previous customers has had negative experiences or encountered challenges when dealing with the business. When assessing a poor rating on Trustpilot, it is important to consider the overall consensus and trends reflected in the reviews. Reading individual reviews can provide insights into the specific issues customers have faced and help determine whether those concerns are relevant to one’s own needs or expectations.

Some Reviews by its customers:

#1. A customer reveals that they visited what they thought was Safeguard Metals’ headquarters in Woodland Hills but found it to be a mail drop in a shared office space. This discovery led them to believe that Safeguard is a fraudulent company and casts doubt on the authenticity of positive Trustpilot reviews.

#2. Richard shares his positive encounter with Michael from Safeguard Metals. Due to his negative experiences in the past, Richard initially approached the interaction with caution. However, he found Safeguard Metals to be reliable and genuine. Richard expresses his satisfaction with choosing Safeguard Metals to handle his IRA, as it has alleviated a significant burden from his mind.

#3. Alan strongly voices his dissatisfaction, describing his experience as “absolutely the worst.” He claims to have lost approximately half of his money on the very first day, indicating a significant financial setback. Alan warns others to be cautious, labeling the company as scammers and advising against placing trust in them.

#4. Colin shares his positive experience with Safeguard Metals, expressing gratitude for the education he received about investing in precious metals for his IRA. He believes that this approach makes more sense than other potentially risky options, particularly given the ongoing health crisis. Colin feels confident that his IRA is in good hands and well-protected.

#5. Beck told Safeguard Metals exhibits extremely poor customer service, particularly after the purchase of precious metals. He claims that phone calls go unanswered. Also he alleges that there is a lack of clarity regarding valuation and inventory. He expresses frustration in attempting to liquidate metals, implying that customers may encounter difficulties in this process. Based on his experiences, Beck states that he would never recommend this company, citing its unprofessionalism and questionable practices.

Safeguard Metals Lawsuits: UniCourt, Justia, CasetextHave its customers sued Safeguard Metals?

The Securities and Exchange Commission has filed an amended complaint in the case of Securities and Exchange Commission v. Safeguard Metals LLC and Jeffrey Ikahn (known as Jeffrey S. Santulan). The lawsuit alleges that Safeguard Metals and Jeffrey Ikahn were involved in a fraudulent scheme targeting the retirement accounts of hundreds of investors.

According to the complaint, Safeguard and Ikahn operated as investment advisers and convinced investors to sell their existing securities, transfer the proceeds into self-directed (IRAs), and invest in gold and silver coins. The SEC alleges that false and misleading statements were made about the safety, liquidity, and compensation related to these investments.

Safeguard Metals CFTC: What Exactly Happened?

Safeguard purportedly presented itself as a full-service investment firm with substantial assets under management and offices in London, New York City, and Beverly Hills. However, the complaint alleges that the company was operated by Ikahn from a small leased space in Woodland Hills, California, and used sales agents to make fraudulent claims.

The amended complaint further accuses Safeguard of using prepared scripts. Apparently, these scripts had false and misleading statements. This includes claims about an impending market crash and retirement accounts being frozen under an undisclosed law. Additionally, Safeguard and Ikahn allegedly misrepresented the commissions and markups on the coins they sold, charging significantly higher markups than disclosed to investors.

The SEC’s amended complaint charges Safeguard and Ikahn. Also, these charges include violating antifraud provisions of the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940.

Furthermore, the SEC charged Ikahn is with aiding and abetting Safeguard’s violations and as a control person under the Securities Exchange Act of 1934. The SEC seeks permanent injunctions along with disgorgement of ill-gotten gains with prejudgment interest, and civil penalties.

Our top companies have a clean background and aren’t involved in any kind of major legal dispute. You can check out the list here.

Are Safeguard Metals Legit? Should You Invest With Them?Is Safeguard Metals a scam or legit? Are they worth it?

No, I don’t think you should invest with them.

While they are certainly not a scam, they have plenty of red flags.

Furthermore, there are plenty of companies with far better reviews and reputation in the industry.

I recommend you check out our top gold IRA providers. There, you can find what the industry’s leaders have to offer.

Alternatively, you can check out the best gold dealer of your state below:

Each state has its own regulations and rules, so we’ve sorted and found the best Gold IRA company for each state.

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