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Thread: Merit Financial

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    Default Merit Financial

    For the past month or so, I've been picking up stuff for my father in-law from my local guy and ebay, but I think he's getting to the point where he wants to start buying on his own. He asked me about this company (Merit Financial) last night and said their prices are lower than places that I'd recommended to him like APMEX and Provident. I checked out their website and it doesn't appear you can purchase items directly from their site and I told him I was skeptical of anything that you couldn't put in a cart and see the entire checkout price of. Also he said he heard about them via an advertisement which also made me immediately skeptical since most places that advertise on tv are a ripoff. So does anyone know anything about them?
    "There are too many men with badges and guns today: badges and guns and fiat money. Take away their fiat money, and a lot of them will have to turn in their badges and guns."

    - Gary North

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    Default Re: Merit Financial

    It seems you aren't going to get any business done with Merit unless you talk to a sales rep.

    Make sure you know what you want and stick to it. The complaints against Goldline seem to relate to sales reps talking people into buying lower quality items they never intended to buy in the first place.
    *Disclosure: long physical gold, silver and mining shares

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    Default Re: Merit Financial

    Always check out the BBB. They have been in businees for awhile and have an A+ rating...DYODD

    http://www.la.bbb.org/Business-Repor...vices-35001324

    Goldline also has an A+ rating though....
    Last edited by diversified2; 08-14-2010 at 01:13 AM.
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    "Substitute the word gold with wealth collection." 'Wealth collection is like a hobby for you guys instead of a tool, you don't think rationally about it.'

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    Default Re: Merit Financial

    I have been looking at different sites that solicit "testimonials" (pos or neg) about PM dealers. I found one (TrustLink) on which the testimonies for Merit left me very uncomfortable. My conclusion is that Merit is either writing them themselves or collecting them from customers and posting the best.

    Here's the pattern of testimonies by month since the inception:
    All of 2010 - 12
    01/2011 - 1
    02/2011 - 8
    03/2011 - 6
    04/2011 - 4
    05/2011 - 3
    06/2011 - 17
    07/2011 - 24
    08/2011 - 14
    09/2011 - 26
    10/2011 - 24 (thru the 21st)

    Does this raise your eyebrows? Also, during some months, as many as SIX were posted on one day. Almost every posting contained the rep's name. I looked at scanty reviews of the other PM big names that I knew, and rarely is a rep's name mentioned, except in "scam" assertions. If anyone wishes to check these out, I would appreciate your take. The site is http://www.trustlink.org/Reviews/Mer...ices-205887891

    I don't think TrustLink is involved in this in any way; they are just being used.

    I would love anyone's evaluation of Merit Financial, apart from the TrustLink question I posed above.

    Chuck

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    Default Re: Merit Financial

    There are a few entries on the "Rip-Off Report" website:
    http://www.ripoffreport.com/Search/B...financial.aspx

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    Default Re: Merit Financial

    Quote Originally Posted by cschaeff View Post
    I have been looking at different sites that solicit "testimonials" (pos or neg) about PM dealers. I found one (TrustLink) on which the testimonies for Merit left me very uncomfortable. My conclusion is that Merit is either writing them themselves or collecting them from customers and posting the best.

    Here's the pattern of testimonies by month since the inception:
    All of 2010 - 12
    01/2011 - 1
    02/2011 - 8
    03/2011 - 6
    04/2011 - 4
    05/2011 - 3
    06/2011 - 17
    07/2011 - 24
    08/2011 - 14
    09/2011 - 26
    10/2011 - 24 (thru the 21st)

    Does this raise your eyebrows? Also, during some months, as many as SIX were posted on one day. Almost every posting contained the rep's name. I looked at scanty reviews of the other PM big names that I knew, and rarely is a rep's name mentioned, except in "scam" assertions. If anyone wishes to check these out, I would appreciate your take. The site is http://www.trustlink.org/Reviews/Mer...ices-205887891

    I don't think TrustLink is involved in this in any way; they are just being used.

    I would love anyone's evaluation of Merit Financial, apart from the TrustLink question I posed above.

    Chuck
    Wow! Good catch. Not only rep's names in most, but first & last names... and the phone number included in many of them. Wouldn't touch 'em, personally.

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    Default Re: Merit Financial

    Quote Originally Posted by cschaeff View Post
    I have been looking at different sites that solicit "testimonials" (pos or neg) about PM dealers. I found one (TrustLink) on which the testimonies for Merit left me very uncomfortable. My conclusion is that Merit is either writing them themselves or collecting them from customers and posting the best.

    http://www.trustlink.org/Reviews/Mer...ices-205887891
    What a load of crap; no doubt those reviews are written by the Merit reps. I love the featured review:

    "***** ***** spent lots of time when I was asking about investments..I knew nothing about Palladium, but learned it was less than it should be (at the time) I bought a 100 oz ''bar'' for just over $21K,(delivered) and sold it with no problems at all for just over $80K. The transaction went perfect on buying, and happily, also with the selling process.I have also bought other investments from Merit Financial. If you want to get ahold of him, here is his number (name & number deleted because I won't pass it on)."

    I guess if you can't legally say this as a rep of the company, why not post it elsewhere anonymously. No way I'll ever trust Merit (or TrustLink).

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    Default Re: Merit Financial

    Quote Originally Posted by samwiii View Post
    What a load of crap; no doubt those reviews are written by the Merit reps. I love the featured review:

    "***** ***** spent lots of time when I was asking about investments..I knew nothing about Palladium, but learned it was less than it should be (at the time) I bought a 100 oz ''bar'' for just over K,(delivered) and sold it with no problems at all for just over K. The transaction went perfect on buying, and happily, also with the selling process.I have also bought other investments from Merit Financial. If you want to get ahold of him, here is his number (name & number deleted because I won't pass it on)."

    I guess if you can't legally say this as a rep of the company, why not post it elsewhere anonymously. No way I'll ever trust Merit (or TrustLink).
    This is the typical crap done by a "reputation protection" company, I would guess reputation.com who advertize here endlessly on radio about helping "defend your company reputation on the web by burying negative information and adding positive information" In other words shills You can see that all the positive reviews are done by one-shot wonders, their first and last review. TrustLink should police their site better I guess As for buying from Merrill you had just to see their ads on TV to realize that they are a snake-oil boiler-room operation that you shouldn't touch with a 10 ft pole ...
    "Forgiveness is the fragrance the violet sheds on the heel that has crushed it"
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    "Those who cannot remember the past are condemned to repeat it"
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    Default Re: Merit Financial

    Quote Originally Posted by elroy View Post
    It seems you aren't going to get any business done with Merit unless you talk to a sales rep.

    Make sure you know what you want and stick to it. The complaints against Goldline seem to relate to sales reps talking people into buying lower quality items they never intended to buy in the first place.
    Elroy thanks for your insights on Merit Financial. My name is Larrin and I work in the marketing department there and I wanted to respond to your comment above. Firstly, we are not allowed to publicly speak against direct competitors such as Goldline, but our company policy is to encourage all clients to complete their due diligence and reputation research before they make any purchase. This includes a $5 iphone case from eBay not to mention a $5,000 purchase of Gold and/or Silver coins.

    I want to respect the community and will not use this message board to spam you with why our company is truly one of the great dealers in the industry. But I will say this. We sell bullion coins and bars and are consistently in the top 10% of competitively priced dealers related to our strong prices. As you said, when a client calls and knows what they want, especially for bullion from $1500 to $10M they are sold the bullion they request at the prices listed on our website. Lastly yes we do sell other coins that are priced very competitively as well. For the record, if you can find a company or two that will save you "$5 on an ounce of gold", but be wary when shopping on price alone. Often times these companies, "make their money back"when you call to sell your coins back and are offered prices much lower than spot and/or melt. Be wary of "online only dealers, leverage propositions and certificates based holdings". Elroy, thank you for writing your honest assessment of our company and I look forward to reading more of your responses on the message board in the future.

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    Default Re: Merit Financial

    Quote Originally Posted by diversified2 View Post
    Always check out the BBB. They have been in businees for awhile and have an A+ rating...DYODD

    http://www.la.bbb.org/Business-Repor...vices-35001324

    Goldline also has an A+ rating though....

    diversified2 thanks for your comments. As a marketing rep with Merit Financial I can not agree more with you regarding clients completing their own due diligence. The president of Merit Financial is a reserve deputy Sheriff with the Los Angeles Sheriffs Department. 26 years in business. And with more than 2500 transactions per month we do make a wrong every now and then. When we make a wrong, we quickly own up to it and work to make it right. When you see a company with 0 complaints on their BBB it means either 1) they are new and do not have a reputation 2) there is something fishy going on.

    Think about it, many of you are business owners, how many of you have clients that no matter what you do, it is impossible to please every person that walks through your doors. With that, if you ever have an issue with Merit Financial, and your account executive can not resolve your issue, contact client services, we work to bring about a resolution within 48 hours.

    diversified2, All the best in your own pursuits and thanks for your comments about our company and industry.

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    Default Re: Merit Financial

    Quote Originally Posted by cschaeff View Post
    I have been looking at different sites that solicit "testimonials" (pos or neg) about PM dealers. I found one (TrustLink) on which the testimonies for Merit left me very uncomfortable. My conclusion is that Merit is either writing them themselves or collecting them from customers and posting the best.

    Here's the pattern of testimonies by month since the inception:
    All of 2010 - 12
    01/2011 - 1
    02/2011 - 8
    03/2011 - 6
    04/2011 - 4
    05/2011 - 3
    06/2011 - 17
    07/2011 - 24
    08/2011 - 14
    09/2011 - 26
    10/2011 - 24 (thru the 21st)

    Does this raise your eyebrows? Also, during some months, as many as SIX were posted on one day. Almost every posting contained the rep's name. I looked at scanty reviews of the other PM big names that I knew, and rarely is a rep's name mentioned, except in "scam" assertions. If anyone wishes to check these out, I would appreciate your take. The site is http://www.trustlink.org/Reviews/Mer...ices-205887891

    I don't think TrustLink is involved in this in any way; they are just being used.

    I would love anyone's evaluation of Merit Financial, apart from the TrustLink question I posed above.

    Chuck

    cschaeff/Chuck, thanks for your insight into our company. My name is Larrin and I am a marketing representative from Merit Financial. I wanted to address your assertions about our BBB Trustlink Reviews. Do we actively seek reviews from our clients? Yes we do. Posting our own reviews directly or indirectly posting reviews from our clients violates the BBB Trustlink policy and is bad karma. "Unbalanced scales are not good for business or life". Beginning in June, we simply begin to request reviews from our clients. We do not offer any compensation for the reviews, but we do send out thank you cards to clients that post, positive or negative, when we can identify them by name. The one thing we do STRESS to our clients is to NEVER leave any personally verifiable contact information for obvious reasons. This is why we like Trustlink as the only details a client shows is their first name, Last name initial and no city or other contact information. However we have reviews from Google, Yelp and many others online. To that end, we are actively seeking ways to show future clients the experience of our past clients.

    cschaeff/Chuck, we thank you for working to keep the industry honest. Of all the companies, Merit Financial is constantly striving to provide a great product, with a great experience at a fair price. When we make a mistake, we own up to it and work to make it right. All the best!

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    Default Re: Merit Financial

    The bbb is crap. complaintants don't pay the bbb's bills, businesses do. Unless you killed someone and there's a file with the police and you're convicted and it's all over the news, the bbb will side iwth the business and tell you if you still have a problem to take it to court. I've had the bbb tell me this twice. better to look at the number of complaints and think it's the business's problem no matter what. this is my general opinion, not specific to any one company.

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    Default Re: Merit Financial

    Quote Originally Posted by bill57 View Post
    There are a few entries on the "Rip-Off Report" website:
    http://www.ripoffreport.com/Search/B...financial.aspx

    Bill57,

    Thanks for your insight into Merit Financial. My name is Larrin and I am a marketing representative for Merit Financial. Yes, we do have a few entries on ROR and about 39 client comments with 78% resolved with the BBB over the past 3 years. The ROR is very much the wild west, but the BBB, though not perfect at least allows us the chance to hear a clients' concerns and admit wrong when we have not done our best and offer a resolution. And if you want to have some fun, Google: "RipOff Report Disneyland". Anyone, can write anything, about any business on ROR without having to verify anything but an email address. Unlike the BBB, the ROR does not allow us to work to correct a client complaint.

    With well over 2500 transactions per month, not every client will be pleased with our service. We currently average about 2.1 escalated complaints for every 1,300 transactions. For the record in 26 years of business, Merit Financial has not once failed to deliver gold/silver/platinum to a client. So most issues reported have to do with an easily correctable action. Truly the precious metals industry is one built on reputation. With the volume of sales we complete annually, much like Apple computers, it makes sense to just give a dissatisfied client a full refund, per our policy, than risk damaging our reputation and thus affecting our long term sales. Should you have an issue with our service, please contact Client Services, you will get a resolution within 48 hours. All the best Bill57.

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    Default Re: Merit Financial

    Quote Originally Posted by curmudgeonista View Post
    Wow! Good catch. Not only rep's names in most, but first & last names... and the phone number included in many of them. Wouldn't touch 'em, personally.

    curmudgeonista, thanks for your insights about our company. My name is Larrin and I am a marketing representative for Merit Financial. Some people like Fords, some people like GM and some people wont touch either. All the best!

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    Default Re: Merit Financial

    Quote Originally Posted by samwiii View Post
    What a load of crap; no doubt those reviews are written by the Merit reps. I love the featured review:

    "***** ***** spent lots of time when I was asking about investments..I knew nothing about Palladium, but learned it was less than it should be (at the time) I bought a 100 oz ''bar'' for just over $21K,(delivered) and sold it with no problems at all for just over $80K. The transaction went perfect on buying, and happily, also with the selling process.I have also bought other investments from Merit Financial. If you want to get ahold of him, here is his number (name & number deleted because I won't pass it on)."

    I guess if you can't legally say this as a rep of the company, why not post it elsewhere anonymously. No way I'll ever trust Merit (or TrustLink).
    sawmill, My name is Larrin and I am a marketing representative with Merit Financial. For the record, writing our own reviews on Trustlink or posting a review for a client violates their policies and terms of service. We don't pay for or fraudulently post reviews. All reviews are from real clients, posted from their real computers and if any are suspected of being false, BBB Trustlink has a pretty strong algorithm for filtering these reviews out of their system, as do our reviews on Google, Yelp and other places online. All the best in your endeavors!

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    Default Re: Merit Financial

    How long has Merit Financial been in business? How much of that time spent selling precious metals? Where are you incorporated? Do you sell PMs internationally or just USA/North America? I have never heard of your companny so just trying to understand your business a bit more in case I want to add you as a possible dealer.

    Any GIMers done business with Merit Financial, if so we can add a thread for comments to our Dealer forum. That is how we try to be fair and independent (the threads there are the opinions of the GIM members personal experiences with various dealers.


    Quote Originally Posted by mrdennis View Post
    Elroy thanks for your insights on Merit Financial. My name is Larrin and I work in the marketing department there and I wanted to respond to your comment above. Firstly, we are not allowed to publicly speak against direct competitors such as Goldline, but our company policy is to encourage all clients to complete their due diligence and reputation research before they make any purchase. This includes a $5 iphone case from eBay not to mention a $5,000 purchase of Gold and/or Silver coins.

    I want to respect the community and will not use this message board to spam you with why our company is truly one of the great dealers in the industry. But I will say this. We sell bullion coins and bars and are consistently in the top 10% of competitively priced dealers related to our strong prices. As you said, when a client calls and knows what they want, especially for bullion from $1500 to $10M they are sold the bullion they request at the prices listed on our website. Lastly yes we do sell other coins that are priced very competitively as well. For the record, if you can find a company or two that will save you "$5 on an ounce of gold", but be wary when shopping on price alone. Often times these companies, "make their money back"when you call to sell your coins back and are offered prices much lower than spot and/or melt. Be wary of "online only dealers, leverage propositions and certificates based holdings". Elroy, thank you for writing your honest assessment of our company and I look forward to reading more of your responses on the message board in the future.
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    Default Re: Merit Financial

    Quote Originally Posted by mrdennis View Post
    curmudgeonista, thanks for your insights about our company. My name is Larrin and I am a marketing representative for Merit Financial. Some people like Fords, some people like GM and some people wont touch either. All the best!
    Yep, and some people fall for shady marketing.

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    Default Re: Merit Financial

    Quote Originally Posted by AgAuGal View Post
    How long has Merit Financial been in business? How much of that time spent selling precious metals? Where are you incorporated? Do you sell PMs internationally or just USA/North America? I have never heard of yourcompanny so just trying to understand your business a bit more in case I want to add you as a possible dealer.

    Any GIMers done business with Merit Financial, if so we can add a thread for comments to our Dealer forum. That is how we try to be fair and independent (the threads there are the opinions of the GIM members personal experiences with various dealers.


    bi
    AgAuGal, thanks for writing. Merit Financial has been in business since 1986. Incorporated in California. Our offices are located in Santa Monica, CA. All 26+ years have been in selling precious metals with the same president for all 26 years, and our headquarters have been the same for about 19 years. That same president is a reserve Los Angeles Sheriff Deputy. Yes, we only sale to the U.S. and U.S. territories, and to Canada but only with identification approval. We do not ship internationally.

    Again, Merit Financial strives to do whats right by our clients. We have a BBB A+ rating, a long history and numerous independent associations and memberships. If you would like any industry referrals, please do not hesitate to send a request. All the best!

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    Default Re: Merit Financial

    For the past 2 weeks i wanted to purchase a few oz of silver with the Dec sale they had .99 over spot. but after reading the sales disclaimer decided to buy from a dealer i have used in the past. i could not find a dealer rating here on the forum and passed but what really changed my mind was this.
    #1
    Q: How Much Does Shipping Cost?

    A: Shipping is determined by the weight of your order. Our average shipping cost is currently $30 which includes signature confirmation and insurance

    #2
    Q: Forms of Payment That We Accept?

    A: We accept payment by bank wire, personal check, or credit card on purchases of semi-numismatic and certified coins. We do not accept cash or money order. Merit does not charge any additional fees for credit card use, but may offer cash discounts in certain situations. Bullion orders may only be paid via bank wire or personal check, and prices on bullion will not be locked in (fixed) until payment is received and a tape recorded telephone confirmation is conducted.
    Last edited by roadgold; 01-02-2012 at 03:13 PM.

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    Default Re: Merit Financial

    Quote Originally Posted by roadgold View Post
    For the past 2 weeks i wanted to purchase a few oz of silver with the Dec sale they had .99 over spot. but after reading the sales disclaimer decided to buy from a dealer i have used in the past. i could not find a dealer rating here on the forum and passed but what really changed my mind was this.
    #1
    Q: How Much Does Shipping Cost?

    A: Shipping is determined by the weight of your order. Our average shipping cost is currently $30 which includes signature confirmation and insurance

    #2
    Q: Forms of Payment That We Accept?

    A: We accept payment by bank wire, personal check, or credit card on purchases of semi-numismatic and certified coins. We do not accept cash or money order. Merit does not charge any additional fees for credit card use, but may offer cash discounts in certain situations. Bullion orders may only be paid via bank wire or personal check, and prices on bullion will not be locked in (fixed) until payment is received and a tape recorded telephone confirmation is conducted.
    Roadgold,

    Thanks for your comments. I'd like to reply to your comments above.

    #1. Currently we offer FREE shipping to new clients, see our website. That promotion is ongoing for the next 30 days. Additionally for the past year and currently we have ran a promotion in partnership with the Wounded Warrior Project where we offer to pay for our clients shipping, about $30, if they agree to donate 100% of that fee to the non-profit organization in support of their efforts in supporting our wounded troops. To date we have donated nearly $200,000 to the cause, all from shipping costs donated from our clients. But yes if a repeat client were to order 4 Monster boxes of Silver American Eagles (~35 pounds each), or 10) 10-ounce gold bars, shipping weights and insurance costs would vary, so in turn one's shipping cost order would vary. However, we usually offer very competitive shipping prices. The question we advise clients to ask, "how confident are you that the ABCGoldCompany.com, will indeed ship, insure and/or allow a return of the gold you received with $1 charged for shipping if they make a mistake?"

    #2. Regarding our policy on bullion orders. Bullion prices fluctuate very close to spot and in order for us to secure the coins at the prices that we negotiate with our clients we must ensure that the client is 100% committed to purchasing from us and not simply using our company as a proxy to time the market. Specifically, some shady clients would simply try to time the market using our prices and only send payment on days that the market benefits them. (Try calling Charles Schwab and buying shares of IBM, but paying for the shares at a later time). Once a client agrees to order we verbally fix their price, we afford them 24-48 hours to make a payment via Wire depending on the time of day they confirm. This means if you call Merit on the 1st of the month, Purchase X Silver eagles for $Y, confirm the price of $Y on the 1st, submit your payment to Merit within the allotted time 2nd-3rd, you will receive your total order for $Y. WE DO NOT REPRICE AN ORDER as long as the payment is fulfilled within the allotted time frame. If however, the time line is missed, Merit will at its discretion reprice one's order accordingly subject to our policies.

    We do hope you consider testing Merit Financial in the future, if however you have found another dealer, the important point is that you took action to add gold/silver to your portfolio. If you thought Washington has been on a fiscal tear in the past 6 years, wait til 2013. Do give us a call when you are ready to sell as our purchase prices even above our sell prices are where our clients and non clients learn of our true value. All the best!

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    Default Re: Merit Financial

    Quote Originally Posted by mrdennis View Post
    Roadgold,

    Thanks for your comments. I'd like to reply to your comments above.

    #1. Currently we offer FREE shipping to new clients, see our website. That promotion is ongoing for the next 30 days. Additionally for the past year and currently we have ran a promotion in partnership with the Wounded Warrior Project where we offer to pay for our clients shipping, about $30, if they agree to donate 100% of that fee to the non-profit organization in support of their efforts in supporting our wounded troops. To date we have donated nearly $200,000 to the cause, all from shipping costs donated from our clients. But yes if a repeat client were to order 4 Monster boxes of Silver American Eagles (~35 pounds each), or 10) 10-ounce gold bars, shipping weights and insurance costs would vary, so in turn one's shipping cost order would vary. However, we usually offer very competitive shipping prices. The question we advise clients to ask, "how confident are you that the ABCGoldCompany.com, will indeed ship, insure and/or allow a return of the gold you received with $1 charged for shipping if they make a mistake?"

    #2. Regarding our policy on bullion orders. Bullion prices fluctuate very close to spot and in order for us to secure the coins at the prices that we negotiate with our clients we must ensure that the client is 100% committed to purchasing from us and not simply using our company as a proxy to time the market. Specifically, some shady clients would simply try to time the market using our prices and only send payment on days that the market benefits them. (Try calling Charles Schwab and buying shares of IBM, but paying for the shares at a later time). Once a client agrees to order we verbally fix their price, we afford them 24-48 hours to make a payment via Wire depending on the time of day they confirm. This means if you call Merit on the 1st of the month, Purchase X Silver eagles for $Y, confirm the price of $Y on the 1st, submit your payment to Merit within the allotted time 2nd-3rd, you will receive your total order for $Y. WE DO NOT REPRICE AN ORDER as long as the payment is fulfilled within the allotted time frame. If however, the time line is missed, Merit will at its discretion reprice one's order accordingly subject to our policies.

    We do hope you consider testing Merit Financial in the future, if however you have found another dealer, the important point is that you took action to add gold/silver to your portfolio. If you thought Washington has been on a fiscal tear in the past 6 years, wait til 2013. Do give us a call when you are ready to sell as our purchase prices even above our sell prices are where our clients and non clients learn of our true value. All the best!
    Thank you.

    That was a first class post.

    http://www.youtube.com/watch?v=JKQF78ZbW1k

  24. Post #22

    #22
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    Default Re: Merit Financial

    it is one thing to comment to a thread,

    yet altogether different to add I this and I that,

    thread closed as it now is marketing by MF,

    this thread wasn't created for you MF, it was created by our members asking for a honest assessment of the company,

    not a one sided biased opinion.

    how many times did you say (xxxx I am owned by MF)?

    thread closed

  25. The Following 4 Users Say Thank You to Scorpio For This Useful Post:

    EO 11110 (01-02-2012), Mike (01-03-2012), roadgold (01-02-2012), samwiii (01-02-2012)

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