DALLAS, July 7, 2015 /PRNewswire-iReach/ -- Closed
Loop RSP Enables Investors to Store Precious Metals in RSP
Accounts
(Photo - http://photos.prnewswire.com/prnh/20150707/231704)
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:
Contact:
- 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.
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
Eitan Spiro
Questrade Inc.
espiro@questrade.com
Office: (416) 227-7602
News Provided By: Submit Press Release 123
Media Contact: Qamar
Zaman, Submit Press Release 123, 972-646-2788,
qamar.zaman@itwsystems.com
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SOURCE Dillon Gage Metals