Oxford Gold Group – Fake Reviews and Horrible Service
Oxford Gold Group is a Beverly Hills based precious metals dealer. The company has been running since 2017 and uses many shady tactics to promote itself.
For example, they have added fake testimonials on their website to deceive consumers. Before you browse through their catalog and risk your investments, it would be best to understand the red flags present in this firm:
Who is Patrick Granfar?
Patrick Granfar is the president & co-founder of the Oxford Gold Group. Prior to founding this firm in 2017, he was a senior portfolio manager at Lear Capital. Note that Lear Capital is currently facing lawsuits from multiple Government officials because of their unethical business practices.
It seems Patrick has learned those shady tactics from Lear and is using them at his current firm, Oxford Gold Group.
Similar post: Silver Gold Bull Inc.
One of the examples is the Risk Disclosure present on his website. It states that they are simply a seller and purchase of precious metal products. The disclosure clarifies that the professionals working at Oxford Gold Group are commissioned sellers, not fiduciaries. This means they can’t give you financial advice.
If you purchase their products because you trust their sellers, you can’t hold them liable. Only you are responsible for the returns you get.
It seems like a simple disclosure but it frees them from a lot of responsibilities.
Using disclaimers and disclosures to avoid responsibility is a pretty common tactic among shady enterprises. For example, Dr. Stile is a notorious plastic surgeon who has botched countless procedures. He also employs this method to avoid legal trouble.
This risk disclosure isn’t the only issue present in Oxford Gold Group. There are a few more problems that suggest it’s not a reliable service provider.
Manipulating Customers With Their Biased BBB A+ Rating
If you’d google “Oxford Gold Group complaints”, you’ll find a ton of negative reviews against this business. After reading those complaints, it’s highly unlikely that you’ll give your business to this firm.
Patrick and the people behind this precious metal dealer know this fact. However, instead of fixing the issues present in their firm, they use unethical marketing techniques to mislead investors.
One of those tactics is to pay a hefty fee to BBB and have a BBB accredited profile. Contrary to popular belief, businesses don’t need to offer quality services to get an A+ rating on BBB. They can simply get accreditation by paying the annual fee to get an A or A+ rating on the review platform.
This practice is as horrible as it sounds. In fact, CNN Money had conducted a detailed investigation on this matter. They found that businesses charged with fraud had A+ ratings on BBB because they were accredited.
A Better Business Bureau accreditation also gives a business more control over its profile. So, it can flag complaints as fake and remove them from the page.
Similar review: Twickenham Advisors
It’s another common tactic among scams and shady businesses. Having a positive rating on BBB allows Oxford Gold Group to seem like a credible enterprise. It also helps them in distracting consumers from the numerous complaints people have posted against them, which I’m sharing in the next section:
Oxford Gold Group Cares More About its Commission Than Your Portfolio
Daniel complains that the sales staff at this firm is extremely pushy. They are more interested in the commissions they can earn from you instead of helping you build a healthy portfolio.
This Company Uses Shady Marketing
Michael noticed that the Oxford Gold Group quotes Peter Schiff in its marketing strategy, which is a huge red flag. Note that Peter Schiff is a prominent personality in the investing sphere but has very distinct opinions. For example, he doesn’t believe in cryptocurrency. Peter heavily promotes gold as the best investment and owns a gold IRA provider firm.
Oxford Gold Group Uses False Advertising to Gain Customers
This reviewer shares his painful experience with Oxford Gold Group. He highlights that they promised him several gold coins but he never received them. The reviewer also points out that the company uses false advertising to promote itself and calls them fake.
They Sell Metal That They Don’t Have
Frank complains that his order didn’t get to the depository even after 3 months of placing the order. He had supporting emails from the sales agents that they had the coins. However, whenever he enquired about his order, the company made up an excuse.
Frank shares that the company is selling metal it doesn’t have.
Oxford Gold Group: Company Overview
Oxford Gold Group is a gold dealer in Beverly Hills, California and is located at 9100 Wilshire Blvd Suite 800E, Beverly Hills, CA 90212. Their phone number is 833 600 4653.
They sell a variety of gold and silver products including 1oz and 10 oz gold bars, Gold Canadian Maple Leaf 1 oz, etc. The company also offers gold and silver IRA. Along with the various issues I highlighted above, they also have the problem of posting fake reviews to promote themselves.
By using fake reviews, they think they can distract consumers from the various Oxford Gold Group complaints available online.
The proof of how they use fake reviews is on their website. Here’s a client testimonial they have posted on their website with the following image:
You’d think the image is of the client “Sean W.” but it’s just a stock image. A Google search of the image shows that it’s being used by numerous other businesses:
Oxford Gold Group is trying to deceive consumers on its website. This is just another example of how they try to manipulate you into trusting them.
Oxford Gold Group is a gold IRA provider and dealer with many problems. They post fake testimonials and use unethical marketing tactics to lure customers. These are some major red flags.
It would be best to find a different gold bullion dealer which doesn’t use shady business practices. Because it’s very difficult to trust a company that’s constantly trying to manipulate you.
Oxford Gold Group has too many flaws to count. The company resorts to sheer manipulation tactics to gain customers. It would be best to find a reasonable and reliable gold dealer instead of this one.
- Avoid responsibility
- Staff cares about commissions instead of clients
- Use deceptive marketing tactics