With more and more people turning to precious metals to protect the value of their retirement savings, it’s crucial to ensure that the gold IRA provider you’re working with is trustworthy.
And with Red Rock Secured gaining popularity across the country, we need to know if anything is lurking under the surface.
That’s why today we’re checking out Red Rock Secured lawsuits and complaints.
2023 Update: It has been acquired by American Coin Co. company, so while links to the cases and complaints will be on RRS, the link to the guide will lead to a new site.
We know that even the best companies can have disputes.
But what we need to discover is whether they are a normal part of doing business or represent a deeper issue.
And how a firm resolves these can tell us if they’re decent or someone we should avoid.
After all, when it comes to your money, you can never be too sure.
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So, is there anything to worry about? Let’s find out.
What Is Red Rock Secured?
Update: This company is now acquired by American Coin Co. (review coming soon).
Who is the CEO of Red Rock Secured LLC?
Sean Kelly is the CEO of this gold IRA company. Founded in 2009, Red Rock Secured LLC is a Nevada corporation based in El Segundo, California.
They offer a wide range of precious metal options for both tax-deferred IRAs and cash accounts.
The team’s mission is to help investors learn and actually protect their retirement by diversifying it.
Before opening an account, you will receive a one-on-one phone consultation, where a trained professional will take the time to answer all your questions without any pressure to buy.
And when you’re ready to open a gold individual retirement account, RRS handles all the details.
They have fewer products than other similar companies; however, they offer platinum and palladium in addition to gold and silver coins and bars.
And while they don’t provide any information regarding fees on their website, this broker states that nearly 90% of their clients qualify for the “no fees for life” program.
Now that we know how they operate, let’s look at the lawsuits.
Richard William Myers vs. Red Rock Secured, LLC
This is the only open case against RRS we discovered during our research.
On July 26, 2022, in California’s District Court, Richard William Myers filed a class action lawsuit against Red Rock Secured LLC, alleging violations of the Telephone Consumer Protection Act.
The proceeding seeks to stop the defendant from making unsolicited phone calls to customers that have registered their telephone numbers with the National Do Not Call Registry.
The plaintiff alleges that he received unwanted telephone calls on May 12, 2022, and the person stated that he had requested information regarding precious metal investing.
Mr. Myers said he wasn’t interested and asked not to be contacted in the future. The caller confirmed that his number would be placed on the company’s do not call list.
On May 19, Mr. Myers alleges he received another call from the same number. However, the caller refused to disclose the name of the business he represented.
After this short conversation, the plaintiff called the number displayed on his phone, which was answered by Red Rock Secured LLC.
As of this writing, the precious metal broker has failed to adequately respond to this.
Accordingly, the judge has requested that they provide a motion as to why he shouldn’t issue a summary judgment in this case.
The lawsuit is currently pending a response from the company.
Red Rock Secured, LLC vs. XXXX
This case has the defendant’s name redacted, and is categorized as a labor-workplace violence kind of lawsuit.
On September 24, 2020, Red Rock Secured LLC filed a complaint against an employee in Los Angeles County Superior Courts.
Though few details are provided online, RRS alleges personal injury (which can be assault, battery, or defamation).
The case was dismissed with prejudice, meaning that the firm can’t bring a future claim against this person.
Augusta Precious Metals vs. Red Rock Secured LLC
Although only a few details are available about this, we can see that on January 16, 2019, APM filed a request for the dismissal of all parties and all causes of action.
The Los Angeles court granted this, and the jury trial was vacated on February 11, 2019.
By the way…
Augusta is one of our top-rated companies in this industry. Check out our review to find out why.
You can also grab their Gold IRA guide here.
It’s 100% FREE and explains everything you need to know about diversifying with precious metals.
Plus, you get FREE GOLD coin when you open a gold IRA account with them.
Red Rock Secured Complaints
Complaints come in all shapes and sizes.
But rather than the issues, how an establishment responds provides greater insight into how they do business.
After all, not all firms can be everything to everyone. And even the best ones will receive negative feedback every now and then.
The critical question is whether these criticisms are isolated instances, or they represent a trend that the company is no longer trustworthy.
In our research, we discovered five complaints against Red Rock Secured in the past 12 months.
Let’s take a look at each of them and how RRS reacted.
This first one is the only Trustpilot complaint and was filed on March 28, 2022:
Hmmmm…after reading several reviews, I’m guessing many, if not most, are from folks very new to this type of investing. Still, with the reviews seeming good – I submitted my contact info a few days ago in exchange for their free “guide.”
After reading their material, then researching gold as an investment further and companies who offer this service – I decided this type of investing is not for me.
A moment ago – I got a call from one of their reps. I politely explained that I was just getting ready for surgery – and that I’d decided to pursue other options and would he please remove me from their contact list.
The guy sneered before hanging up…” Eh – good luck with that high inflation!”. Wow. Good job, dude. All you did was earn a black mark for Red Rock. Just a dime a dozen, rude salesman.
To potential investors: be VERY thorough in your research of investing in gold – and also the companies who offer that service.
And the firm’s response on March 30, 2022:
My name is Sean Kelly, and I am the CEO of RRS. Thank you for recognizing all the positive reviews from our clients!
I also want to thank you for the opportunity to earn your business even though it did not work out at this time. Perhaps in the future, we can attempt again to earn your trust. Then we will have the chance to have you as an actual client that makes a purchase.
Lastly, I want to thank you for bringing to my attention that one of our Sales Executives may have had a bad day or moment that does not represent our focus on customer service.
Hopefully, you will take the other 133 reviews on this page in consideration. Nevertheless, without this valuable feedback, we would not have an opportunity to improve.
We took your review to heart and immediately met with our account executive. He remembers the call. He owned up to it and apologized immediately.
He also shared some rough personal things that are going on in his life right now. He then asked if he could reach out and apologize to you personally. Please let me know if we have your blessing to have him reach out and apologize.
Again, without your feedback, we would not have the opportunity to address this, improve ourselves, and connect with our employee who is going through a rough patch. Great work, keep it up. We need people like you!
To your success,
Not only did the company immediately acknowledge this concern, but the response also came from the CEO of Red Rock Secured!
This speaks volumes about the value they place on providing outstanding customer service.
Business Consumer Alliance
On October 1, 2020, a customer shared on BCA that they had yet to receive their order and asked for a full refund.
RRS stated that the delay was due to COVID-related shipping issues (remember, this was during the height of the pandemic) and apologized for not keeping them informed.
In addition, they agreed to provide a full refund. The client indicated that they were satisfied with the response.
Many times complaints are caused by conditions outside of a company’s control, but rather than pass the buck, RRS owned up to the issue and made it right with the customer.
Better Business Bureau
Red Rock Secured BBB shows seven complaints in the past three years, with three coming in the last 12 months.
On December 31, 2022, someone stated that Red Rock Secured failed to provide statements and execute orders as requested by the client.
In addition, when they attempted to contact the firm, they couldn’t reach anyone.
RRS responded the same day the feedback was posted and resolved it to the customer’s satisfaction.
This one occurred on September 30, 2022, when a buyer shared that RRS didn’t sell their precious metals when requested and then failed to communicate.
On November 8, the gold provider said that they had spoken extensively with the person concerned and that the issue was due to confusion with the buyback program process.
The client stated they were happy with the feedback and would remove the negative review from the BBB website.
This one happened on March 23, 2022, when an investor complained that Red Rock Secured had offered him a one-year price guarantee on his coin purchase.
However, when he went to sell them, he discovered they were valued at less than the original purchase price.
He also stated that when he tried to contact them, his calls were unreturned.
Less than two weeks later, the same person stated on BBB that the firm had honored the agreement to buy back his coins at the purchase price and that he would like to withdraw his complaint.
Throughout all these, the common thread is that RRS is quick to respond and work with the customer to resolve the concern.
(Even when they were caused by conditions outside the firm’s control.)
In fact, rather than complaints, this firm has received hundreds of positive feedbacks, with the majority being five stars.
Check out the current Red Rock Secured ratings below:
- BCA – 5 stars based on 142 reviews and a AAA rating
- BBB – 4.82/5.0 based on 89 reviews and an A+ rating
- TrustPilot – 4.8/5.0 based on 161 reviews
And the majority of customers describe RRS as courteous, prompt, informative, and very helpful.
The only discrepancy we found was with the Trustlink website.
There Red Rock Secured is currently rated low; however, almost all the 1-star complaints are marked as Fake Reviews.
The Trustlink webpage may have been hacked as these are inconsistent with other third-party review sites.
Is Red Rock Secured Legit? (The Verdict)
Is Red Rock Secured a legitimate company, or is it a scam?
(Again, this company has been acquired by American Coin Co., review coming soon).
After taking a closer look, we see nothing in these lawsuits that make us concerned about doing business with them.
On the contrary, this gold IRA provider has a solid commitment to excellent customer service, as shown by the hundreds of five-star reviews.
And when complaints arise, they quickly respond and resolve the issue to the customer’s satisfaction.
We can see why they have earned the trust of investors across the country.
Our opinion is that Red Rock Secured Gold IRA company would be a fine option to consider today.
Also, let us know if you’d like us to write a Red Rock Secured review!