Registered investment advisors with clients wanting to hold actual gold, silver, platinum or palladium in their own name can now help their clients directly by tapping into GBI Advisors (GBIA), a system billed as the first online platform that lets RIA’s store physical precious metals for their clients.
Previously, GBI accommodated RIAs by partnering with independent platforms that work with financial advisors. GBI focused on the wirehouse channel because it had the advantage of a central authority that could create mass distribution very quickly.
The company is now reaching out directly to RIAs, who can create an account for a client on the GBIA portal at no charge. Fees are charged after a client orders precious metals for storage.
“Ordering through GBIA gives independent advisors all of the bells and whistles that wirehouse advisors have such as statements and reporting on financial software.” fa-mag.com has the full story.