Disclaimer: Some or all of the companies reported here may provide compensation to us, at no cost to our readers. This is how we keep our reporting free for readers. Compensation and detailed analysis are what determines how companies appear below.
T. Rowe Price is an investment firm that's been in business since 1937. It was founded by Thomas Rowe Price, Jr.
This trailblazer believed in putting the customer first. From its inception, TRP has steadily grown into a well-known business that's respected by many customers.
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Read the list to see if T. Rowe Price passed our strict customer service standards to become one of our top recommendations.
Or
Get a FREE Gold Information Kit from our #1 recommendation, by clicking the button below:
Get the FREE Gold Kit smart investors are using to protect their retirement savings.
Taking a look at this business's services is a great way for investors to decide on their next financial move. Explore this company's products right now because it'll help with building wealth and securing financial futures.
Getting to Know the Available Services
TRP specializes in investment accounts. In fact, they have four account types that benefit nearly any investor's goals. It all depends on the investor's needs, from retirement savings to college investments.
1. Brokerage
Investors who want to benefit from stock market trading can apply for a brokerage account. Buy and sell stocks and bonds when the market is open, for example. TRP performs these transactions with associated fees. All financial products are paper assets traded on the stock market.
Trades might occur over the phone or across an online portal. These accounts are for more advanced investors looking for solid deals, such as day trading fans. TRP also includes research tools when investors open a brokerage account.
2. IRAs
Investors can also open an IRA or Individual Retirement Account. These accounts allow investors to save a certain amount each year from either pre- or post-tax income. As a result, the IRA reduces a person's taxable income when taxes are due.
TRP offers traditional and Roth IRAs at the moment. However, they don't offer any gold IRAs. This account type isn't supported by this large corporation.
3. Small Business Retirement Accounts
Investors who're also business owners might be interested in 401(k)s offered by TRP. These accounts benefit the business owner's employees. In fact, offering a retirement account to employees is a great way to retain the best talent. Currently, TRP offers 401(k)s, SEP IRAs, and SIMPLE IRAs.
4. General Investments
For investors who want to further their portfolio diversification, general investments are a great resource. Both mutual funds and ETFs or Exchange-Traded Funds are available.
Mutual funds tend to be safe harbors for investors who want slow yet steady gains. Alternatively, ETFs give investors access to investments that may not be otherwise available.
It's unclear if TRP offers gold ETFs, which are traded funds associated with precious metals. They're often in the form of funds offered by gold mining companies, for instance. Investors wouldn't actually invest in physical gold. However, ETFs are an alternative if gold IRAs aren't available.
5. College Savings
TRP is proud to offer 529 plans for college savings. These plans are designed to save an adequate amount for a child's college tuition. They're usually invested in safe ventures so that steady growth occurs. In most cases, there are no investments in gold when it comes to 529 plans.
Understanding the Importance of Gold in an IRA
Although T. Rowe Price doesn't carry a gold IRA product, investors should still be aware of why precious metals are good investments. Gold and silver are tangible assets.
They have real value based on quality, size, and other factors. In fact, precious metals have been traded for hundreds of years across the globe. In some cultures, they were a valid form of currency.
Because tangible assets have inherent value, they don't lose significant value over time either. They tend to grow steadily in price. In contrast, paper assets are vulnerable to the stock market's ups and downs. They don't have intrinsic value. Currency, for example, has only face value. This concept also applies to stocks and bonds.
Investors who place some of their retirement funds in a gold IRA are shoring up their financial security. If there's an economic downturn, the gold IRA will protect the investor from catastrophic loss.
In the end, investing a small percentage of retirement savings in precious metals can help any portfolio grow over the years.
Exploring the FAQs
1. Which Precious Metals are Available?
TRP doesn't sell precious metals. They do, however, offer access to ETFs. As investors browse the website, they'll come across a general list.
These ETFs are packaged into specific categories, such as equity or growth. It's difficult to determine which ETFs fall under the precious metals category, however. Contacting a TRP advisor may be necessary.
TRP tends to support the more traditional investments in the industry, so it makes sense that they don't sell precious metals directly. Gold IRAs are alternatives for more adventurous investors.
2. Does T. Rowe Price Offer Self-Directed IRAs?
Investors can perform an online search for self-directed IRAs in the industry. Many different companies will turn up as a result. However, TRP doesn't appear to have this product anymore. Online searches that involve old customer brochures do uncover some information about former offerings.
They had self-directed IRAs for ETFs and other alternative investments. Currently, their website doesn't seem to mention anything about self-directed IRAs. It's possible that they were discontinued or consolidated into other account types.
3. Are Precious Metals For IRAs Available Through T. Rowe Price?
After browsing through TRP's site, it appears that no precious metals can be bought through them. The only way to work with this company and invest in gold or silver is probably through ETFs. Investors would need to work with an advisor to pinpoint those investments that are tied to precious metals.
Presumably, investors can pick out specific products they'd like to invest in. Being firm about investment goals can giveTRP's consultants a chance to find the right products.
Keep in mind, however, that ETFs are still paper assets. Investors won't own physical gold or silver. As an alternative, investors might buy some ETFs with TRP and find a separate precious metals dealer afterward. Owning precious metals and storing them at home won't offer tax benefits, but ownership still provides returns in the future.
4. Are There Other Products For Sale?
T. Rowe Price is largely a business that deals with traditional assets, such as stocks and bonds. Aside from possible ETFs, there are no other precious metals products available.
Investors may want to turn to precious metals dealers who sell directly to customers or their corresponding depositories. Depending on the website, these dealers list their products, prices, and item descriptions.
As a result, investors know what they're buying and where it's being held. A separate depository keeps the gold, silver, or platinum safe under IRS-approved conditions. These entities give investors the diversification they need for those retirement portfolios.
Learning About Available Gold Products
Because T. Rowe Price doesn't offer gold products other than possible choices of ETFs, investors must look elsewhere for other choices. Generally, available gold products at other dealers will be specifically labeled "IRS approved" for those IRA purchases.
Gold, silver, platinum, and palladium metals can be added to a gold IRA as long as they have documented purity levels. These designations vary between metals, but it's often higher than 99 percent pure.
Investors purchase the gold through a dealer, track its shipment to a depository and secure the items for several years. Investors allow the items to appreciate in value until retirement. After age 59-1/2, they can withdraw the precious metals for themselves or cash it out at the current rate.
If investors have ETFs with TRP at retirement, they can be used as income along with the gold IRA returns. As a result, investors have financial security with a range of products.
Knowing About Account Charges and Fees
Generally, all TRP accounts have a $20 account service fee applied each year. The only exception is brokerage accounts with a $30 fee. Investors can avoid this fee by maintaining a specific balance in their accounts, depending on the type. Alternatively, sign up for paperless communications for a fee waiver.
In the financial industry, this service charge is relatively small by comparison. Other companies charge far more for the same service. Investors should remember that TRP simply manages paper asset accounts. There's minimal work involved with these selections.
If investors had a gold IRA account, they would have more fees to ship and secure physical gold in IRS-approved depositories. Fees of any amount can eat away at a strong balance, so keep these charges in mind when searching for an account provider.
Another fee investors might encounter is a $20 closeout fee. It's only applied when an account has all its funds transferred or withdrawn from TRP.
Looking at T. Rowe Price's Highlights
This company may not carry any physical gold or offer a gold IRA, but it has several highlights for other investment opportunities. Take a look at TRP's features right now for those alternative investments.
1. Expert Portfolio Analysis
Investing in retirement can be a challenge. As a solution, TRP has ActivePlus Portfolio services. Investors' portfolios can be analyzed for success based on risk, time, and other factors.
The result is a well-rounded portfolio that can withstand economic issues. No plan is perfect, however, but mitigating risk is always the goal.
Outside of this plan, investors can look for a separate gold IRA. Because the investor's funds are safe with TRP, the gold IRA is simply an additional safeguard to a comfortable future.
2. Ample Investor Information
Across the site, investors have a chance to read all about the latest financial trends. They might compare funds or add a product to their watch list.
TRP makes investing an active practice, which means investors need industry data to make solid decisions. The site's data seems to be updated regularly. Investors can also read evergreen information about investing basics too.
3. Available Financial Advisors
Investors might ask for help with their financial situation through TRP's advising offerings. There are several programs based on the investor's needs. For example, there might be a permanent advisor contacted regularly.
Other investors require a few advisory sessions to understand their financial situations. With TRP, advisors can be hands-on or hands-off as the investor sees fit.
4. Proven Track Record
Although TRP's products and services don't include a gold IRA, this company has many trustworthy products that span several decades in the industry. Clients across the globe invest and work with TRP. There are no scams or financial concerns with this company either.
Their experience is obvious, but there is some confusion with their Better Business Bureau profile. When investors research reviews about TRP, it's difficult to find their current profile on the site. In fact, there are multiple companies with the "T.
Rowe Price" name. Investors can trust in the company's experience, but they may want to verify each consultant advising on their account. TRP vets these consultants, and investors can back up that action with research on their own.
Making a Financial Commitment
T. Rowe Price is a highly regarded business with decades of experience. Investors can certainly trust the business for intelligent advice, solid returns, and reputable ethics. However, investors who're looking for physical gold as an investment choice may be disappointed with TRP.
Spreading the wealth around to TRP and a separate gold IRA provider may be the answer. There may come a time in the future when TRP decides to branch out to self-directed IRAs and physical gold. If investors have an established account at that point, opening a gold IRA should be a streamlined process.
Many companies today are adding gold IRAs to their products and services. It may be a matter of time before TRP joins the trend. Ideally, look for gold IRA alternatives now and keep an eye on T. Rowe Price from now on. It's a trusted brand that can still be of value to every investor at some point.
In the end, TRP will probably be a strong entity far into the future. Investors with any qualms about the company should feel confident about investing in this business. Its dedication to its customer base has been proven for nearly 100 years.
Remember to read out list of the Top Gold Companies to see if T. Rowe Price Gold IRA made the cut.
>> Click HERE to read our Best Precious Metals Investment Companies list <<
Or, if you like what you read about T. Rowe Price Gold IRA, you can visit their website below.
At Digital Financing Task Force, we provide research and analysis for people that want to take control of their financial future and protect the savings that they have.
