Lexi Capital – Manipulating Investors
Lexi Capital is a Gold IRA and bullion provider. Founded in 2010, the current CEO of this firm is Chris Mitchell.
The company uses various unethical business tactics to mislead consumers. Before you risk your money and purchase from this self-proclaimed IRA specialist, it would be best to understand what they do.
Below are the different red flags present in this firm:
Fake PR Reviews Of Lexi Capital:
Companies try various tactics to win clients. Some use ethical tactics while some try to mislead consumers. Lexi Capital chooses the latter and tries to manipulate consumers into picking it as the best option.
If you google “Lexi Capital reviews”, you’ll come across various blog articles like this:
All of these articles are either automated or biased. This means, the blog was paid to write an article praising the company so it would seem more credible in the eyes of a common investor.
This is a textbook case of deceptive marketing. Here, Lexi Capital is trying to make it seem as if people are praising this company for the quality of its services when that’s a complete lie.
A legitimate company that truly offers quality services doesn’t have to pay blogs to praise its offerings. Satisfied clients will praise the company automatically.
By adding such biased reviews on the internet, Chris Mitchell’s firm is trying to manipulate anyone into thinking there’s nothing wrong with this firm. This is a huge red flag and it suggests that the company lacks business ethics.
It’s a common tactic among scammers to pay blogs and websites to praise them. For example, Kent Clothier is a con artist notorious for scamming real estate enthusiasts. He also pays blogs and websites to praise his products.
Certainly, it’s very suspicious for a gold IRA provider to use such a terrible marketing tactic.
Chris Mitchell: Lexi Capital’s Current CEO
At the time of writing this review, Chris Mitchell is the CEO of Lexi Capital. He is also the founder of Bitcoin Advizers, a company that claims to offer safe and simple ways to buy and sell Bitcoin within a retirement investment account.
Before becoming the CEO of Lexi Capital, Chris was a senior portfolio manager at Lear Capital.
Apart from this, the gold IRA provider doesn’t share much information about its team or the people who run this company. This is another huge red flag.
The company doesn’t share any information on its “gold IRA specialists” so you can’t know who is the expert you’re trusting with your retirement decisions. All you can do is take their word for it as you can’t determine who works here, what qualifications they possess, and what’s their track record.
The company tries its best to hide all of this information.
Certainly, this company tries to hide a lot of things from consumers. What are they trying to hide? The answer is, the various complaints people have posted against them.
Below is one of the various negative Lexi Capital reviews this firm is trying to hide from you:
Clients Say Lexi Capital is Unethical
Braden says that this company behaved very unethically when he purchased metals from his IRA several years ago. The company refused to change the prices of his metals when the spot price dropped within the first year. This is when the company had promised to do so.
Similar post: CMI Gold & Silver Inc
Later when the reviewer tried to place another order with this company, they didn’t pick up his phone for almost a week. So, he decided to place his order with a different company. Later, when they found that he placed his order with another firm, they got mad at him.
The company made it seem like he was obligated to buy from them because he asked for a quote before.
Lexi Capital BBB Truth
This precious metal dealer doesn’t stop at paying third-party blogs to promote itself. It goes a step further and spends money on a membership of BBB.
This company has a BBB accredited profile which you can get only by paying a hefty annual fee to the review platform. Companies with a BBB accreditation usually enjoy an A or A+ rating on the platform.
It’s quite an unethical practice and many shady businesses use it to deceive consumers. CNN Money had conducted a detailed investigation on this matter. They found that companies with terrible business practices and legal issues had A+ ratings on BBB simply because they were accredited.
Lexi Capital is using this tactic to seem more reliable than it really is.
Avoid Lexi Capital
Lexi Capital has too many red flags to count. The company tries its best to hide any information about its “IRA specialists” from consumers. Furthermore, they don’t hesitate to use different unethical tactics to deceive clients.
All of this suggests that it would be a great risk to do business with these guys. You’ll be better off with someone else.
Lexi Capital hides a lot of crucial information from consumers and uses different unethical tactics to promote itself. It would be better to find a gold IRA provider that cares about its clients and avoid this one.
- Uses shady marketing tactics
- Hides vital information
- Tries to manipulate clients