Vantage IRA Review

Vantage IRA Review
Vantage IRA Review - by, April 1, 2011
3.5/ 5stars
on
Vantage IRA Review
  • Editor Rating
  • Good
  • 0.5/5 Avg. User Rating
  • 1 Reviews
Review Summary :

Founded in 2004, Vantage IRA combines a fun company culture with a serious approach to retirement planning. It's LLC-friendly with a solid management team. Find out if Vantage IRA is the right IRA provider for your needs.

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Pros:

  • Driven CEO and strong management team
  • LLC-friendly
  • Plethora of alternative investing options

Cons:

  • No live chat customer service
  • Fees start at above average price
Quick Facts about Vantage IRA
Year Founded:2004
Location:Phoenix, Arizona
Annual Fees:Starting at $350
Offers 401(k)?:Yes
Offers Roth IRA?:Yes
Crypto Offered?:No
Reviewed By:Jack Choros
Published On:May 13, 2020
Last Modified:May 29, 2020
Have you purchased products from Vantage IRA Review? Leave a review!
evasive and cagey
This company is secretive and will charge you fees without telling you and hides all of it behind evasive and cagey return emails (no telephone contact). I wanted to close my account because the fees increased every year and the value somehow diminshed! I asked them if they would charge fees for closing my account and after 5 emails they STILL wouldn't answer the direct question and then withheld the funds anyway.
June 3, 2021, 4:47 pm

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Vantage IRA has been in business since 2004. The founder of the company started his career back in 1997 and saw a need for self-directed IRA investors who wanted access to alternative assets. Ever since then, Vantage IRA has been working not connect alongside other direct competitors to provide some of the best retirement planning solutions available in America.
The company is small and the track record of its reputation is scarce online when it comes to reviews. However for the most part, Vantage IRA is considered an above average IRA provider.

As far as fees are concerned, the company breaks it down into three different categories, with IRA accounts and precious metals accounts being considered separately. Their maximum fee of $2,100 for a precious metals account is slightly higher than most competitors but the per asset fees are fairly comparable.

Overall there are plenty of good reasons to pick Vantage IRA above other IRA providers, but of course we recommend reviewing at least a few of them before making your own decision. Let’s explore more about Vantage IRA’s offerings including the management team, investing options, fees and more.

The Management Team and Board of Directors of Vantage IRA

J.P. Dahdah is the CEO of Vantage IRA. He started his career working for American Express way back in 1997. He double majored in both finance and marketing at the University of Arizona and founded his own wealth management company in 1999.

J.P. Dahdah, CEO, Vantage IRA

J.P. Dahdah, CEO, Vantage IRA

 

Throughout his career, Dahdah realized he had a special interest in alternative investments and when he realized they could be held within self-directed IRAs, he founded Vantage IRA in 2004. The company currently manages more than $1 billion in assets for clients.

He’s been featured in the Wall Street Journal and many other investing publications and is regarded as one of the most notable business leaders in the state of Arizona due to his involvement in numerous nonprofit organizations related to fostering entrepreneurship and building local business communities.

As far as the broader Vantage IRA team is concerned, there are no other staff member descriptions listed on the website, although there is a really cool promo video featuring many of the staff members and an example of what the workplace culture at Vantage IRA is like.

That video makes the company look cutting-edge and shows that employees are really happy there which is cool, but ultimately doesn’t reflect the knowledge of top management there.

Let’s look at the different investing options available at Vantage IRA.

Investing Account Type Options at Vantage IRA

One of the puzzling things about Vantage IRA is the way the investment options available with the company are laid out on the website. There is no section on the website that details account options or investment types. Instead everything is labelled under one tab titled forms. It’s a bit unfortunate but nevertheless, with some digging, we were able to clearly define what’s available at Vantage IRA. Here are those options:

  • Traditional IRA
  • Roth IRA
  • SEP IRA
  • Simple IRA
  • Qualified Retirement Account

Traditional and Roth IRA accounts of the two most common account types people usually open for their retirement investing goals. A Traditional IRA lets investors benefit from tax write offs while they are contributing. A Roth IRA does not allow for write-offs during contributing years. The advantage to choosing a Roth IRA however is that investors don’t have to pay taxes on withdrawals once they retire. If you think you might have a lot of money rolling in during your golden years, it’s better not to pay income tax during those years.

SEP and SIMPLE IRAs are for businesses who want to support their employee plans and benefit from write-offs for the business. Both of these plans are for companies with fewer than 100 employees. The difference between a SEP, SIMPLE IRA and 401(k) plan is that a 401(k) plan involves significant administrative costs. That’s why the latter is reserved for larger corporations that can afford to pay the extra expenses.

Alternative Investments at Vantage IRA

Vantage IRA offers the opportunity to invest in several alternative assets. Many of the options are similar to other IRA providers. All of the companies we have reviewed are well aware of what the self-directed investor really wants to achieve and the kinds of investment vehicles that will not only get them there, but that appeal to their level of risk tolerance and their desire to earn gains in ways not related to traditional securities.

So here are the options at Vantage IRA:

  • Real estate
  • Private company investing
  • Checkbook IRA LLC
  • Private lending, deeds of trust and promissory notes
  • Precious metals
  • Foreign currency

Of all of the IRA providers we have reviewed, Vantage IRA is really the only one that promotes the idea of investing in foreign currency. That’s not to say foreign currency investing is not allowed with other self-directed IRA providers, like NuView Trust IRA, it’s just not an option that’s often highlighted.

Generally speaking most IRA providers will try to accommodate a client’s desires for alternative asset investing as long as the investment is legal in the eyes of the IRS. Let’s move on to what Vantage IRA charges in terms of fees.

The Fee Schedule at Vantage IRA

Vantage IRA actually structures its fee schedules into three different categories:

  • IRA accounts
  • Precious Metals
  • Health Savings Account

We will cover the first two since the average self-directed IRA investor is likely not opening a health savings account.

IRA Account Fees

IRA accounts at Vantage IRA start with a $50 account setup fee. Not every IRA provider charges an account setup fee, but the ones that do, they all charge around $50. It’s a pretty standard fee.

Beyond that Vantage IRA charges an annual record-keeping fee of $350 per asset up to a maximum of $2,100. Again, that’s in range with many competitors. Many other IRA providers we reviewed charge a maximum of around $1,850-$2,500. They all arrive at those numbers in different ways. Some charge a percentage of fees based on the total account value, others charge based only on the number of assets, and others still charge based on a combination of both options.

Still most people who spend more than $2,000 a year in annual fee is on their IRA account probably have an account worth upwards of $750,000 or more.

Precious Metals Fees

Just like a traditional IRA account, precious metals account fees start with a $50 account setup fee. The annual record-keeping fee for a precious metals account is lower than it is for traditional IRAs. Vantage IRA charges $195 annually for that.

Where Vantage IRA makes their money is on storage and shipping fees. Shipping fees are pretty standard mind you. The minimum charge at Vantage IRA for that is $50. As far as paying fees on storage however, it’s all based on account value. Vantage IRA charges a fee of 10 basis points based on the depository renewal date. They charge a minimum of $125.

It should be mentioned that the termination fee for accounts that need to be closed is $100 for precious metals and $150 for traditional IRA accounts.

Overall Vantage IRA’s fees are pretty fair relative to the competition. We would rank the company in the middle of the pack in this category.

Fee TypeFee Amount
Account Set-up Fee$50
Record Keeping Fee$150 per mortgage/liability $350 per asset. Max $2,100
Transaction Fee$125
Account Termination Fee$150

Customer Support at Vantage IRA

Vantage IRA provides a unique approach to customer support. Beyond offering a phone number and email address by which to contact the company directly, Vantage IRA stresses education through its online knowledge base. This knowledge base not only includes answers to frequently asked questions, it also includes an events calendar ripe with different workshops that investors can take in order to understand better the IRA options they have and the investment opportunities available.

That said, the toll-free number is 1-866-459-4580 and the company can also be reached by email using an online web form. There is no option to contact the live support person via chat.

Vantage IRA Customer Reviews

Not every IRA provider has a Google profile. Fortunately Vantage IRA is one of them. The company rates a 3.8 out of five stars on its Google profile with one customer calling the company a rip off. It’s a disappointing comment given the fact that there only for reviews on the profile. That said, not every IRA company that has a Google profile does a good job of driving customers there for reviews, so having at 3.8 rating out of just for reviews is not much to consider.

The company’s Better Business Bureau profile has been open since 2008 and features zero customer complaints with an A+ rating.

Vantage IRA also has an in-depth review on GoldIRAGuide.org with a rating of 3.5 out of 5 stars.

Overall the company doesn’t seem to do much to manage its online reputation or customer reviews, but it’s not the worst that we’ve seen. Far from it.

Vantage IRA FAQs

Here are some answers to frequently asked questions about Vantage IRA.

Vantage IRA certainly advertises that they can accommodate a checkbook IRA LLC. This is a very common offering in the self-directed IRA space. The IRS frowns upon it, but realistically there are so many competitors that offer it, those that don’t are often left behind.

Vantage IRA offers the opportunity to open an IRA account online through their forms section, which means you can get the process started on the web. However, you do need to talk to a human being in order to make the opening process official.

The IRS does not allow investors to put money into S-Corporations, collectibles like art, or life insurance policies. The reason for this is that the government doesn’t want people using IRA accounts to earn businesslike profits, so anything that resembles using the IRA account as a tax shelter for business proceeds is considered legal. That said, there are many alternative investments that are totally legal so there are lots to choose from for your retirement planning.

Choosing Vantage IRA as your IRA provider isn’t the worst decision in the world. We can rank it number one because the customer reviews simply aren’t there to support it, at least not across multiple platforms. The most reviews we found on one platform came from Yelp and the company only rates a 2.5 out of five stars on that website.

As far as investment options and fees are concerned, Vantage IRA is on par with any other IRA provider. Their fee structure is really simple and easy to understand, and it’s mostly based on a per asset basis, with annual fees being attached mostly to precious metals accounts.

The CEO is a very smart man who’s been in finances his whole career and the fact that Vantage IRA has a 15-year track record should give customers some reassurance that the organization is in it for the long haul.

As always before choosing Vantage IRA for your self-directed IRA needs, we recommend checking out the competition and then making the best decision for yourself.

 

See our Top IRA Reviews page for more company reviews and a comparison table of self-directed IRA providers.

 

Vantage IRA Review
Vantage IRA Review - by, April 1, 2011
3.5/ 5stars
on
Vantage IRA Review
  • Editor Rating
  • Good
  • 0.5/5 Avg. User Rating
  • 1 Reviews
Review Summary :

Founded in 2004, Vantage IRA combines a fun company culture with a serious approach to retirement planning. It's LLC-friendly with a solid management team. Find out if Vantage IRA is the right IRA provider for your needs.

Have you purchased products from Vantage IRA Review? Leave a review!
evasive and cagey
This company is secretive and will charge you fees without telling you and hides all of it behind evasive and cagey return emails (no telephone contact). I wanted to close my account because the fees increased every year and the value somehow diminshed! I asked them if they would charge fees for closing my account and after 5 emails they STILL wouldn't answer the direct question and then withheld the funds anyway.
June 3, 2021, 4:47 pm

Leave your rating

Field is Required

Field is Required

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