Dallas, TX, 07/07/2015 /SubmitPressRelease123/
Closed Loop RSP Enables Investors to Store Precious Metals in RSP Accounts
TORONTO, ON (July 7, 2015) – Precious metals dealers can now offer Registered Savings Plan (RSP) accounts to Canadian clients through a Closed Loop RSP platform. Metals contained in these accounts are securely stored in insured accounts at International Depository Services of Canada (IDS). Dillon Gage Metals
, the parent company of IDS, has partnered with Questrade
, Canada’s fastest growing discount brokerage, which utilizes electronic trading and RSP 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 Tax Free Savings Accounts to purchase Royal Canadian Mint bullion coins and London Bullion Market Association (LBMA) brand bars.
In 2007, Questrade was the first brokerage in Canada to provide its clients with the ability to purchase gold bullion within their RSPs. 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 percent and 99.5 percent pure, respectively. Also eligible are bullion bars produced by any refinery accredited by the 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 RSP 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 RSPs 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 RSP platform. Dillon Gage has simplified the RSP process for participants—including retail investors, bullion dealers, account administrators, wholesalers and storage facilities—by launching a closed loop retirement account 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 RSP 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 RSPs 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 or call International Depository Services of Canada at (855)362-2431.
About International Depository Services (IDS) of Canada
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.
Office: (416) 227-7602
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