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In the dynamic world of business and finance, Global Business Incorporated (GBI) stands out as a leading entity, providing a diverse array of services and solutions to clients around the globe.
This thorough review will provide an in-depth look at GBI's extensive service offerings, their unwavering dedication to client satisfaction, and the distinctive qualities that differentiate them in a highly competitive global market.
Join us as we explore the complexities of GBI and uncover the opportunities it presents for those aiming for financial growth and stability.
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That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
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Read the list to see if Gold Bullion International (GBI) passed our strict customer service standards to become one of our top recommendations.
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What is Gold Bullion International - GBI?
This is a financial services firm that specializes in precious metals investments, along with other areas of wealth management.
They work with financial service operations as well as consumers. Their goal is to provide an investment trading platform for precious metals, such as gold, silver, and platinum.
They also serve these entities -
Company History and Information
In August 2009, they were founded as Gold Bullion International, LLC in New York, NY. The founders are financial industry veterans who possess decades of experience at top investment firms. Today, GBI is led by Founder and President Mark C. Scher, who spent more than 18 years at Merrill Lynch where he spent several years in upper management. He’s also a graduate of Rutgers University.
What sets GBI apart from much of its competition is they assure clients that precious metals purchased through GBI have been manufactured by refineries recognized by the London Bullion Market Association (LBMA). The LBMA is an international trade association that represents the global over-the-counter bullion market.
According to GBI’s website, its mission is to use technology and service to enable clients to access alternative assets in an easy, safe, and profitable manner. They do this through the GBI Platform, which is designed for flexibility and enables clients to have a simpler user experience using modern technology.
Ratings and Complaints
As of this writing, GBI doesn’t have a consumer review or online rating on BBB, Trustpilot, or Yelp. Given the expertise of their staff, along with the volume of assets managed daily, it’s safe to say this is a reputable organization.
Again, anyone who's new to the world of investments should educate themselves about the process before signing up with any financial institution. Understanding the risks early will help new investors make sound decisions.
While GBI works diligently to only deal with the best entities, those who are new to investing should conduct their own research. This includes knowing the fundamentals, which include tax advantages determined by the Internal Revenue Service (IRS), as well as familiarity with beneficial strategies.
Consumers should be aware that the majority of investment products come with a certain level of risk. Investment plans or products are not guaranteed to turn a profit.
Management Team
Along with Scher is a robust team of finance professionals that includes a Board of Managers and a Wealth Management Team. Leading the Board of Managers are Co-Founder/CEO Steven Feldman, and Chairman Eric Schwartz. The remaining Board of Managers includes Co-Founder Dan Tapiero, John Hart, and John Hathaway.
The Executive staff consists of –
Before starting GBI, Feldman spent 23 years with Goldman Sachs and had nearly a decade of experience in asset management. Schwartz has held several executive positions with notable financial firms in the New York area, as well as overseas. He holds an MBA from the Wharton School of Business.
Skip Welsh is the Regional Director of the Wealth Management Distribution department and has more than 25 years of experience in the financial services industry.
Other Wealth Management team members include –
Set-Up Process
GBI offers a couple of ways to get set up. The first is the GBI Platform, which is mostly intended for financial advisors, precious metal dealers, and other third-party operations. This software is intended for business-to-business transactions and not direct consumer use.
However, GBI also works directly with consumers or traditional dealing methods. This alternative is best for those who may lack the technical skills or want to simplify the process. To learn more, prospects need to complete an online inquiry form and briefly state their goals or questions.
Custodian and Storage
The GBI site does not share details or fees that pertain to the processing of a precious metals account. Anyone who wants this information should complete an online inquiry form. Staff often responds within normal business hours.
Also, storage facility information and fees are not covered on the site. While third-person parties are used, the site doesn’t list names or locations. Again, completing an online inquiry form is the fastest way for team members to answer questions regarding precious metals investments.
Account and Maintenance Fees
Currently, there are no sign-up fees to open an account. Like any other investment account fees often come with precious metals storage and maintenance.
While these fees are not listed on the GBI website, this information is shared with anyone who completes an online inquiry form. An investment team member will discuss details or handle inquiries without obligation to open an account.
Gold Bullion International Website
The GBI website has a simple layout that’s easy to navigate with content that uses plain language to describe the many services offered. When viewing the GBI Platform page, a hierarchy is used to break down the process. This page also covers alternative investment options.
However, since GBI is mostly tailored for business-to-business operations, this site isn’t recommended for the consumer that’s new to investments. Although some pages detail the benefits of having a precious metals investment portfolio, the information is minimal. In the meantime, looking at sites like the Securities Exchange Commission is ideal for getting information tailored to consumers.
One bonus with using the site is free access to the GBI Resource Library. Visitors can sign up with no obligation and learn more about investing and wealth management. While this library is mostly targeted to finance professionals, it may benefit the novice investor as well.
The Basics of Precious Metals Investing
As more people are living longer and public social security doesn’t always cover basic living expenses, more working adults are planning for the future with long-term investments.
Since the market tends to fluctuate, more individual retirement accounts (IRAs) are including options that allow more flexibility. One of these is precious metal investments, which are part of self-directed investment accounts.
A self-directed investment account allows users to diversify their assets. These may include property deeds, limited liability corporation (LLC) ownership, and precious metals. The reason why most people choose to add precious metals is these hold their value during times of economic decline or crisis. These can also offset losses from stocks or other traditional assets.
When making this type of investment, there are some strict rules to follow. While self-directed accounts allow a wide variety of assets, including cryptocurrency, the protocol is more detailed.
A custodian has to set up the account and once products are selected, these must be stored at an IRS-approved depository. Keeping these at a residence involves too much risk for the account holder and financial institution.
Depositories are designed to keep all purchased metals safe from damage and theft.
However, it’s important to note that precious metals can only account for no more than 15% of an investment portfolio. Financial advisors can also provide some insight into investment basics and possibly suggest a sound strategy. However, it’s best to look into unbiased sources before making a decision.
Precious Metal Types
According to the IRS, only certain bars, bullions, or coins may be used as part of an investment portfolio. They also must be purchased from specific dealers to ensure their authenticity.
Products sold by private parties are not eligible. While there are many dealers worldwide with good rates or services, not all are IRA-approved.
The IRS also has strict regulations on what may be included in a precious metal portfolio. Collector or rare coins, costume jewelry, or dental gold may not be used. .
This is mostly because dealers go with products that are easy to sell to other clients. Another factor is including a product that will retain its high market value over time
Finally, it’s also important that novice investors know the role of each party they are dealing with. Outside of a financial advisor employed by a bank or similar institution, custodians and dealers should not influence or make suggestions regarding assets.
Oftentimes, they may refer current clients to special deals that have a limited time to act on. This third party is normally a salesperson trying to unload precious metals with little to no value.
Precious Metal Products Used for Investments
All gold bars, coins, and rounds used in a precious metals investment portfolio must be 99.5% pure. Silver has to be 99.9% pure while platinum and palladium need to have a 99.95% purity level. These metals should also weigh one ounce or greater. However, there are some exceptions, like the American Eagle coin.
IRA-Approved Gold Coins
IRA-Approved Silver Coins
IRA-Approved Platinum Coins
IRA Approved Palladium Coins and Bars
The American Palladium Eagle and Canadian Palladium Maple Leaf are the only IRA-approved coins eligible for investment.
Bars may come from a variety of mints worldwide, including COMEX and NYMEX. However, since GBI uses only LBMI, their offerings meet the IRA-approved investment property guidelines.
While the list can be rather extensive, most dealer sites indicate whether a particular bar, coin, or round is eligible for inclusion.
Final Thoughts
GBI is a New York-based investment company that is one of the oldest and most trusted worldwide. They offer a proprietary trading platform for its clients, which can be used by firms and individual consumers. Their well-informed staff always takes time to discuss various investment options with clients.
They pride themselves as a full-service entity that shows financial companies how to get the maximum return for their clients. This is done using proprietary software that helps users find the best products on a global level. For GBI, expertise and reliability are what it takes to build long-lasting relationships.
Remember to read out list of the Top Gold Companies to see if Gold Bullion International made the cut.
>> Click HERE to read our Best Precious Metals Investment Companies list <<
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