Perpetual Assets Review: Scam or Legit IRA?

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  • #5441
    TEFX Team
    Keymaster

    Perpetual Assets is a company that offers consulting and investing services.

    Their main area of expertise is LLC IRA, precious metals and Cryptocurrencies.  

    PerpetualAssets.com was incorporated in 2018 but their website’s existence is traced back to 2003.

    This is because the current owners of Perpetual Assets bought the domain from another person.

    And according to screenshots captured by Wayback machine, the website was being used to advertise various get-rich-quick schemes starting 2009 up to 2013. 

    Perpetual Assets is currently owned by Mr. Gus Demos Gus Demos. The business is allegedly being run from Texas.

    Contact can be established through email or phone (888-281-2630 and 877-637-2742).

    However, they’re also providing this physical address: 30 N Gould St, STE 2540, Sheridan, WY 82801.

    A quick Google search reveals that no such company is doing business on the said address.

    If these are not red flags, I don’t know what else to tell you.

    Is Perpetual Assets legit?

    We’re going to look at what financial services they provide as well as fees before answering this question.

    They claim to offer LLC IRA to investors. This account type is the same as normal IRA.

    However, with LLC IRA, one is going to assume 100% control of their retirement account. PerpetualAssets claims that this control will be handed over to the investor.

    With an LLC IRA, clients can invest in the following:

    • Precious metals like Gold, Silver, etc
    • Cryptocurrencies
    • Real estate
    • Commercial properties
    • Forex
    • Stocks and Bonds

    Perpetual assets also claims to sell precious metals such as Gold and Silver which are then stored in vaults and can be liquidated in real time using a Visa debit card.

    They also let investors add Cryptocurrencies to their IRA while keeping private keys for security.

    This company is basically running its business like Regal Assets which is their main competitor currently.

    Looking at the fees, the company states that they’re charging $1,997 (total solution fees) that is paid through the IRA.

    Additional fees include $200 paid annually and does not depend on the size of asset under management.

    Should you invest in Perpetual assets?

    Before you invest with this company, you should ask yourself whether they’re regulated.

    Since they operate from the US, they need to have SEC’s authorization to provide this kind of broker-dealer investment service.

    Secondly, I’m looking at online customer reviews and can’t find any except on the Perpetual Assets website.

    Of course reviews that a website owner puts on their site can be written by themselves.

    In this case, I can’t find BBB reviews or feedback from any other place.

    This is a red flag.

    Conclusion

    I don’t feel confident investing with a company like PerpetualAssets. It is a common trend where shady broker dealers purchase old domains to do business and pretend to have existed for a long time.

    I also believe this is an illegal financial service because they operate without a regulator’s license.

    Thanks for reading the review.

    #8131
    Lynn
    Guest

    Warren, Thank you for posting this info about Perpetual Assets. Quite Helpful. I am looking for companies for a self-managed ira. So far Regal Assets is the only upstanding legit one I have come across.

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