The Silicon Review
Over the past years, the global financial system has evolved at an unprecedented pace; new financial products have expanded to allow economic agents to manage, hedge, or lay off risks for present and the future. But the truth is that we live in a world in which our financial security is increasingly threatened by forces outside our control. Most investors whose portfolios are completely reliant on paper assets (i.e. stocks, bonds, and mutual funds) are leaving themselves vulnerable to substantial market risk, a risk that is less and less tolerable as one nears retirement age. As investors plan for retirement, the focus must be not only on investing profitably, but also on preserving gains Goldco was founded in 2006 to help support investors achieve those goals and protect their IRA/401(k) accounts by purchasing precious metals.
Goldco is widely acknowledged as a leader in assisting investors in hedging against run away government spending and excessive money printing by the Federal Reserve. The company’s aim is to provide Americans with a powerful option to protect their IRAs, 401(k)s, and other qualified retirement accounts from the volatility and inflation of the market that takes an irreparable toll on their savings. Experts at Goldco have helped investors in taking advantage of their ability to hold gold and other precious metals in their retirement accounts, in strict compliance with IRS code.
Dawning of the company
Headquartered in Woodland Hills, California, Goldco was founded by Trevor Gerszt with the purpose of helping retirement savers take advantage of a platform that allows individuals to hold physical precious metals within their IRA (Individual Retirement Account).
Since its inception, the company has undergone many transformations. In 2011, the company refocused its business model on direct-to-consumer precious metals sales, including gold and silver coins and bullion, as well as platinum and palladium. By 2012, the company began providing IRA and 401(k) rollovers into self-directed IRAs, helping owners to hold precious metals in their retirement accounts in accordance with US law and IRS regulations. By 2014, Gold IRAs and IRA rollovers made up the bulk of Goldco’s business.
Conversation with CEO Trevor Gerszt
Tell us about your first product that was launched?
Since inception we have sold physical gold, silver, platinum, and palladium only in the form of coins and bars. In the year 2015, Goldco became the exclusive distributor of the British Royal Mint's Silver Britannia coin from the Lunar series with a distinctive privy mark on the rim of the coin.
How successful was your first project roll on?
We have been very fortunate with tremendous growth since we started offering Gold and Silver IRA's. Goldco has gone through tremendous growing pains in order to keep up with the growing demand for our products while maintaining and providing an excellent client experience and full client satisfaction.
What were the grounds on which you have expanded your company and its offerings over the years?
We have had a tremendous amount of requests for the digital currency Bitcoin. As a result of that demand, Goldco created the company Coin IRA, our new Bitcoin division focused on helping consumers purchase and hold bitcoins in their IRAs.
If you have to list five factors that have been/are the biggest asset to your organization, what would they be and why?
Well, we are 100 percent sure that our employees are our biggest asset. Goldco would not be the company it is today without all the dedicated staff members making it possible to meet client demands. Marketing would be second. I have spent a lot of time and money making sure our marketing is efficient and effective. Our exclusive product offerings would be third. These products allow Goldco to be competitive and unique in our space.
Future endeavors of the company
Goldco helps identify the best approach for adding precious metals to a new or existing IRA account, and thus provides the best information and resources needed to decide what types of precious metals make sense for its clients. In the near future, the company will launch a new division called CoinIRA LLC that will focus mainly on helping individuals acquire Bitcoin for their IRA. Trevor Gerszt has expressed his goal for the company saying, “I see us being one of the largest precious metals companies offering gold-backed IRAs and Bitcoin IRAs in the U.S.”
Meet the mastermind
Trevor Gerszt, the Founder and CEO of Goldco, was born in East London, South Africa and immigrated to the US in 1986. He didn’t come from a wealthy background and thus started working at the age of 11, quickly discovering the true value of a dollar. Since then he maintained a solid work ethic and was able to put a little bit of money away that helped him acquire Gerson Financial Group LLC in 2011, which was later renamed to Goldco Direct, which then became Goldco.