InvestmentNews takes advisers through the developments and innovations in technology that’ll change the way you do business today—and tomorrow.

Forget the cave — advisers now have easier way to store clients' gold

GBI launches online purchase and management program for precious metals; works with reporting systems

Jan 17, 2013 @ 1:27 pm

By Davis Janowski

+ Zoom
Old school

When I write about storage, a hard drive is usually involved. But not today.

On Wednesday, Gold Bullion International LLC announced the launch of GBI Advisors, a product which enables advisers to purchase and store gold and precious metals for their clients and to get those purchases added to their portfolio management and reporting systems

GBI's intent is to fill a need in the independent adviser industry for an online platform where they purchase, sell and arrange for physical storage of precious metals on behalf of their clients.

Whether in the form of gold bars or coins or other metals including silver, platinum and palladium, advisers will be able to more easily meet what has become an increasingly popular demand among clients for precious metal.

The firm has storage arrangements with six global, insured vaults operated by Brinks, Via-Mat, and Malca Amit.

Using the website registered investment advisers or brokers can sign up and create accounts for their clients but it will be February before the firm launches a “few major partnerships” with some as yet unnamed but well-known RIA reporting systems.

That move will essentially allow the advisers to stream the data from GBI into the reporting systems, and thereby more easily add precious metal investments to their monthly or quarterly reports.

And while I'm not exactly sure how this latter bit will work it will also allow fee-based and fee-only advisers to charge wrap-fees. More on that when some specifics come out.

Anyway, we have written about GBI before.

In a nutshell their proprietary technology allows purchasers to place orders and get competitive bids through GBI's established network of dealers and refiners.

A page from the RIA platform built by GBI.
+ Zoom
A page from the RIA platform built by GBI. (Gold Bullion International LLC)

Unlike ETF purchases of precious metals or those at some banks GBI purchases are in the client's name.

For more information visit GBI Advisors online.

Related stories:

Krawcheck's latest gig is pure gold

Krawcheck's latest gig is pure gold

There's gold in them thar fields


What do you think?

View comments

Recommended for you

Featured Research

The 2015 InvestmentNews Adviser Technology Study

This in-depth study provides a blueprint for the industry, providing actionable information to advisers, along with the latest solutions to help them drive profitability, efficiency and growth for their firm.

Latest news & opinion

DOL Fiduciary Rule: What you need to know about Acosta's decision

Labor Secretary Alexander Acosta confirmed that the agency's fiduciary rule will become applicable on June 9. Find out what advisers and firms should know when it goes into effect.

Acosta declines to extend delay of DOL fiduciary rule

Labor Secretary finds no legal basis to delay implementation; rule to become applicable June 9

Phyllis Borzi says opponents of DOL fiduciary rule face uphill climb to further delay or dilute it

Former assistant Labor secretary who crafted the rule says President Trump won't be able to get rid of it simply because he doesn't like it.

Advisers go on the offensive, getting clients ready for the next market correction

Some proactive planners are spelling out for clients the impact of a 10% or 20% correction.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print