The annual storage fee, which covers insurance and audit, is 65 basis points. GBI says that’s analogous to a fund management fee.
Reporting Systems Forthcoming
“Ordering through GBIA gives independent advisors all of the bells and whistles that wirehouse advisors have such as statements and reporting on financial software,” says Singh.
GBI says it’s working on integrating the GBIA platform into several major RIA reporting systems that will enable advisors to aggregate a client’s precious metals holdings into monthly statements and include the allocation in the overall investment portfolio. This will let an advisor bill for precious metals assets in such a way that they can be wrapped in the advisor’s overall fee.
The company says that by the end of the first quarter it expects to make announcements regarding relationships with various reporting systems.