TORONTO, ON (March 6, 2015) – Precious Metals dealers can now offer Registered Retirement Savings Plan (RRSP) accounts to Canadian clients through a Closed Loop RRSP platform. Dillon Gage Metals has partnered with one of Canada’s fastest growing discount brokerages, that utilizes electronic trading and RRSP platforms operated by Dillon Gage Metals. Through this new platform, precious metals dealers and advisors facilitate account solutions for their clients utilizing funds in their RRSPs and TFSA to purchase Royal Canadian Mint bullion coins and LBMA brand bars while storing them in secured and insured accounts at International Depository Services of Canada.
Since 2005, Canadians have purchased bullion within their RRSPs. According to the Canadian Revenue Agency, eligible gold and silver bullion coins must be minted by the Royal Canadian Mint and must be at least 99.9% and 99.5% pure, respectively. Also eligible are bullion bars produced by a refinery accredited by the London Bullion Market Association (LBMA).
“Many investors today allocate part of their savings into precious metals, including coins, for a balanced portfolio; however, many are unaware of the ability to utilize RRSP funds for this purpose,” says Terry Hanlon, president of Dillon Gage Metals. “The creation of this platform was a natural complement to our electronic trading platform. Precious metals dealers have told us for many years that the process of opening RRSPs for retail investors, waiting for funds to clear, and purchasing and storing precious metals can be both confusing and time consuming.”
As an international precious metals wholesaler with a sophisticated electronic trading system and the parent company of IDS Group depositories, Dillon Gage Metals had the technology, infrastructure and expertise to develop the Closed Loop RRSP platform. Dillon Gage has simplified the RRSP process for participants—including retail investors, bullion dealers, account administrators, wholesalers and storage facilities—by launching closed loop retirement accounts solution on its proprietary Digital Metals Platform. Through the system’s data display dashboard, a bullion dealer or wealth manager is kept up to date regarding where clients stand within each stage of the RRSP process.
“The closed-loop retirement platform streamlines the process for all parties and increases business opportunities for dealers to assist their clients in diversifying assets through an often tax-effective vehicle,” says Robyn Sprott, Managing Director of IDS of Canada. ” Metals dealers and wealth advisors should consider Closed Loop RRSP as a streamlined investment option that increases their clients’ purchasing power into precious metals.”
For more information, please visit:www.dillongage.com or call (800)375-4653.
As Canada’s first private depository dedicated exclusively to the unique needs of gold, silver and platinum group metals, IDS of Canada provides direct support to market participants through wide-ranging offerings including comprehensive secure and segregated storage and inventory management services. IDS of Canada’s clientele include IIROC dealer members, institutions, government mints, asset managers, wholesalers, bullion dealers and individual investors. IDS of Canada and its affiliate company IDS of Delaware are wholly-owned subsidiaries of Dillon Gage Metals. For more information, please visit: www.idsofcanada.com.
About Dillon Gage Metals
Dillon Gage Inc. of Dallas (DillonGage.com), founded in 1976, includes:
- Dillon Gage Metals, one of the world’s largest precious metals wholesale trading firms. The firm is an authorized purchaser for all major world mints and maintains inventory in over 20 countries around the world.
- FizTrade Online Trading offers a real-time bid/ask trading platform for gold, silver, platinum and palladium.
- Digital Metals delivers advanced tools and technologies that enable market participants to be more successful in their businesses. Digital Metals offers cloud-based solutions for physical precious metals marketplace built upon the Digital Metals Platform.
- Dillon Gage Refining, professional assayers and refiners of precious metal scrap, from low grade to karat scrap. Stone removal services and diamond experts on staff.
Contact:
Jeffrey Cheatham
TrizCom PR
jeffc@trizcom.com
Office: 972-247-1369
Cell: 972-961-6171
Jo TRIZILA
TrizCom PR
jo@trizcom.com
Office: 972-247-1369
Cell: 214-232-0078