Ameriprise Gold IRA

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The company known as Ameriprise Financial Services is among the biggest wealth-management enterprises in the United States. In 2005 before it was known as a publicly-owned business, the firm was called American Express Financial Advisors.

This fee-based company is an investment broker and advisor dealer. The headquarters are based in Minneapolis, while they have several other company offices throughout the country.

Many of the brokers are also advisors as well as insurance agents. As well as offering expert financial advice, this company also sells insurance and investment products.

Ameriprise has grown from small business to serving millions of customers. 

But do they offer IRAs that can hold physical gold and other precious metals?

Unfortunately Ameriprise does not offer investors the option to protect themselves from inflation with IRA that is allowed to hold physical gold and silver.

But don't worry, we have made a list of the top gold IRA companies that specialize in these accounts, that are much better options than Ameriprise.

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What is a Gold IRA?

pyramid of investing goals

A precious metals IRA or gold IRA are self-directed Individual Retirement Accounts that have increased in popularity over the last few years, especially among people who value stability and diversity when it comes to their retirement portfolios.

These financial vehicles provide investors with the opportunity to add tangible precious metals such as gold, in bars, or coins to a tax-sheltered retirement account.

Precious metals are well-known as a reliable hedge when it comes to geopolitical crises and inflation and are suited ideally for creating diversification that extends beyond paper-based assets for long-term investors. 

The main goal of just about every gold IRA investor is to preserve their wealth for the long term. Precious metal IRAs are a powerful, stable, and safe solution to maintaining longer-term asset growth.

To increase the security and safety of these investments, these precious metals will be stored in an IRS-approved depository until you retire. From here, you can either convert these assets into cash or have them shipped to you directly.

It is important to note that rolling over or transferring your current retirement account will be a tax-free transaction.

What Are the Benefits of a Gold IRA?

When you invest in a gold IRA, your portfolio for retirement will be more diversified (on a tax-deferred basis), which means you get to maintain a tax-preferential treatment.

This ultimately means when you roll over or transfer a percentage of your current IRA into a gold IRA this will not result in any type of tax implications.

At the same time, when you open a gold IRA, you can benefit from the annual contributions of $6,000 (when you are below 50) or $7,000 (when you are above 50 years old).

It is very important that you have chosen a reliable and trusted gold IRA firm that can guide you through the regulatory requirements, avoid any tax pitfalls, and help you to diversify your portfolio with tangible precious metals to help stabilize your portfolio for retirement.

Keep reading to find out about the top 3 reasons why most financial experts suggest investing in a gold IRA:

  • Authentic Portfolio Diversification

When you invest some of your retirement savings in precious metals such as gold, this will diversify your portfolio.

These alternative uncorrelated assets have a track record of providing a hedge for your funds, particularly when currencies, governments, and markets, falter.

All the investment vehicles on Wall Street are paper based, from bonds to stocks. Precious metals and physical gold provide an additional diversification layer.

  • Hedge Against Both Deflation and Inflation

Inflation is a silent and invisible thief.  As time goes by, inflation will start to erode your investments. Gold and other precious metals provide a layer of protection against deflation and inflation and give your portfolio immunity from the negative effects that inflation has.

  • Attractive Profit Opportunities

The historical track record of gold has shown that over the long-term, physical precious metals offer excellent profit potential. For example, in the year 2000, Gold was around $200 an ounce.

In 2017, Gold finished above $1,200 per ounce, which results in a 5 X ROI (return on investment).

Gold is a wealth store and has a history of truly achieving these purposes.

Historical data has also shown that gold has increased in value over the years, especially during tough economic times, which makes it something very valuable to add to a well-balanced retirement portfolio.

Financial experts use precious metals and gold as an effective hedge against both deflation and inflation, an evolving negative political and economic environment, and dollar devaluation.

What is a Self-Directed IRA?

Self-directed IRAs are retirement accounts that empower investors when it comes to giving them more control over their financial futures. Similar to a conventional 401(k) or IRA, self-directed IRAs are linked to the same tax benefit advantages.

It offers the same benefits that are expected from most retirement accounts, yet with two essential differences. Increased investment options along with more control over your retirement account and portfolio.

The self-directed IRA offers a way to shield your savings for retirement by bypassing paper-based assets and diversifying using an alternative asset like IRS-approved precious metals or physical gold.

Gold IRA Account Types

Similar to traditional retirement accounts, gold IRA accounts also include different types that offer distinctive tax benefits.

Below are the 3 main Gold IRA Account types:

  • Traditional Gold IRA

Traditional gold IRAs are tax-deferred savings accounts for retirement that work like the pre-tax conventional IRAs concerning taxes. Any gains and contributions won't be taxed, while the contributions will also be tax-deductible.

The IRS has set contribution limits (annually) of $5,500 for people under the age of 50, and $6,500 for those above 50. With this type of IRA, you will be liable for tax on the distributions that you take during retirement.

  • Roth Gold IRA

These are after-tax savings accounts for retirement that operate in the same way as other Roth IRAs. While there are no upfront tax deductions, the main benefit of this account is that you won't be required to pay any taxes when you start taking distributions during retirement.

  • SEP Gold IRA

These are made available to self-employed individuals and business owners. A SEP Gold IRA works in a similar way to the pre-tax traditional IRAs, where your contributions won't be taxed, yet it also provides higher contribution limits.

Rather than the $5,500 limits, you will be able to contribute 25% of your annual income or $53,000 (whichever is less).

Gold IRA Vs Gold Stocks Vs Gold EFT

When it comes to owning gold, there are different methods to acquire it. You can purchase gold and store it in a safe or your home. You can purchase stocks from mining companies, or you can choose gold futures, a gold EFT, or a gold IRA.

So, how do they differ?

Gold ETFs are types of commodity funds that can be traded like stocks. Even though the assets that make up these commodities are gold-backed, investors won't own a physical commodity. 

Instead, the investor will own a small quantity of a gold-related asset, which provides diversification to their portfolio.

In general, these are the vehicles that provide investors with a way to obtain "exposure" to gold through a small investment position that what it achievable through future contracts or physical investments.

However, many investors are unaware that the prices to trade these ETFs that are tracking gold often outweigh the convenience.

Gold futures are a type of contract that is traded on exchanges. Both parties will agree that a buyer is going to purchase commodities at a price that is predetermined on a date that has been set for the future.

Investors are allowed to put money into these commodities without paying the full amount upfront. This does provide a bit of flexibility on how these deals are executed.

It is also possible to purchase stocks from mining companies. This option also means that you won't own gold in its physical form, but rather shares in that particular mining company.

You can also choose to buy gold and then retain it until you decide to convert it into cash by liquidating it.

An IRA (Individual Retirement Account) is suggested for all types of investors. One of the main reasons has to do with the favorable tax benefits.

Contributions into a traditional IRA are usually tax-deductible, while the earnings in the IRA can grow tax-free until you start taking distributions at retirement.

The gold IRAs are IRAs that you can hold physical gold as opposed to paper-backed assets. For instance, conventional IRAs usually hold mutual funds, bonds, or stocks, which are all investments that are paper-traded.

With gold IRAs, the investment will be tangible, and physical gold is easy to liquidate. This can mean if the dollar loses its value, and the economy in the U.S. tanks, your IRA will still hold value since gold has a global value.

How to Choose the Best Investment

Making decisions on how to save your hard-earned money for retirement is not an easy task. Every investor wants security when they invest their money into something that is going to grow in value.

While any type of gold fits this category, purchasing gold certificates, gold coins, or bars, won't offer the same tax benefits as Gold IRAs. It may sound like a good idea to go for gold ETFs, but the initial step for any investor in precious metals will be to first open a Gold IRA.

This gives the advantage of buying tangible, physical gold, and the tax advantages that come with these types of retirement accounts.

About Ameriprise Financial

ameriprise homepage

The history of Ameriprise dates to 1894 when the company was called Investors Syndicate.

Since then, the company has changed names and ownership a few times, and also acquired other businesses, which include Columbia Management, H&R Block, statistics firm Dynamic Ideas, Threadneedle an English investment firm, and J. & W. Seligman.

Investment News states that only LPL Financial is a broker-dealer that managed to generate more revenue when compared to Ameriprise.

LPL had close to $6.1 billion in revenue for 2019, while Ameriprise had over $3.7 billion. Of that $4.8 billion, $2.6 billion included fees, and $2.1 billion was for commissions.

What Services Does Ameriprise Financial Offer?

Ameriprise has many financial services on offer, including financial planning, ongoing and active asset management services, as well as portfolio allocation modeling.

As mentioned earlier, the advisors also sell insurance and financial products, where they receive commissions from the vendors.

Portfolio management is offered on a non-discretionary or discretionary basis, which will depend on the type of investment program. There are also wrap-free programs available.

Investment programs that this firm names Advisory Solutions include:

• SPS Advisor

• SPS Advantage

• Select Separate Account

• Active Portfolios

• Vista Separate Account (available from Envestnet)

• Investor Unified Account (this is available through Envestnet Asset Management’s website tool)

• Access Account (available from Envestnet)

The only account where the client makes the decision whether or not to make a trade that is available is SPS Advantage and Access Accounts invest solely in exchange-traded funds, and mutual funds. Additionally, or clients can also open a brokerage account.

Red Flags to be Aware of with Ameriprise

In a recent filing from Ameriprise with the SEC, they had 138 disclosures.  It is also important to know that Ameriprise is one of the fee-based firms.

As we said before, many of the Ameriprise advisors operate as both brokers and insurance agents that receive fees or commissions based on the number of transactions they produce. This can present a potential conflict of interest. 

However, the company is bound legally to work for the best interests of its clients.


If your budget is smaller and you want a portfolio that is professionally managed, Ameriprise Financial Services may be the right choice.

You could use a few of the programs on offer with an investment of $25,000 (the minimum) and gain access to many programs and products. You can also find local advisors throughout the U.S.

Just check on the rate you have been given before you sign up since the fees of this company are slightly high, which will depend on what you have negotiated.

Also, keep in mind that some of the advisors may receive compensation when it comes to recommending some of the products.

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