I moved Traditional and Roth IRA's through Regal Assets in order to acquire silver IRA's. After funds were available one IRA transaction completed in 20 days, the other in 44 days. Not told why the 2nd transaction took three more weeks to process. Immediately lost 29 (or more) of initial funding value once the transactions posted. Understand variance between buy and estimated sell prices but also recognize there is nowhere near that much variance.
Before the 2nd IRA transaction had processed I asked for a written break-down of costs and expenses charged to me in order to understand the staggering initial loss in value. I also specifically stated I did not want the second IRA transaction to proceed until my questions were answered. Repeated requests resulted in double talk about not being able to readily value silver, no figures provided. Regardless of current value, want to know what expenses and charges were incurred. Account Rep only wanted to talk on the phone, not put anything in writing as requested multiple times. Available disclosures initially provided point towards $500 or less in charges (as opposed to many thousands). Response was to point to shipping, handling and insurance although Regal Assets refuses to identify how much that was. Regal Assets is understandably in business to make a profit, so why not be up front about what those costs are to conduct IRA transactions through them? I don't expect to be able to recoup the losses I experienced up front by doing business with Regal Assets.
I don't know why one IRA was process in 20 days and the 2nd in 44 days. In between the first IRA processing and the 2nd IRA processing is when I requested Regal Assets not to proceed with the 2nd transaction which they did late during my written discussion seaking answers.
Granted I am not a large investor, although that makes the nearly $7,500 hit all the more damaging.
Recommend getting a detailed accounting of all charges and costs up-front before doing business with Regal Assets.
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