Individuals, families, trusts, and corporations can open a variety of investment and retirement accounts
with Euro Pacific, including IRAs, and Roth IRAs.
The minimum investment for a Portfolio Wrap Account is $50,000 and the minimum
investment for a separately managed account with Euro Pacific Capital is $250,000.
Euro Pacific Capital requires an account minimum of $100,000 for a traditional brokerae account.
Investors who do not qualify for the account minimums needed for broker's managed account platforms
can purchase Euro Pacific Capital Mutual Funds. For account minimums of $25,000, Euro Pacific brokers will structure portfolios
of these mutual funds that are weighted to match a client’s individual investment profile.
Investors with less than $25,000 can purchase mutual funds directly via the Funds’ websites.
Minimum investment per fund is $2,500.
Founded in 1997 and headquartered in Westport, Connecticut, Euro Pacific Capital, Inc. is a full-service, registered broker/dealer
specializing in foreign markets and securities. Euro Pacific Capital is an industry leader
among U.S. brokerage firms for making direct purchases of foreign shares, on foreign exchanges, making them economical for American
retail investors. Through their Euro Pacific brokers, clients receive advice about foreign securities that may simply not
be offered by discount brokerage firms.
by John Smithson,
Pros: Fast comms, good advice, great service
Cons: non that i can think of
I see a lot of bad reviews and so had to leave my positive experience I have been with europac for more than 3 years now and have been very pleased with the results and returns. Clearly you need to consider the companies vested interest in Gold, but as an educated investor you would know that. Do your homework and you will avoid results like all these other investors leaving reviews. The banking and investment side is rock solid and we love using the bank.
Pros: Same story , same rip off
Cons: Everything. They churn advisors, no communication, improper investments
I can't add much to the already bad reviews. I lost $40k based on their advice. I told them I only wanted large well established companies. Some how I ended up in Bersa Gold and some other small companies. They don't listen to you and put you off. It was the delay getting out that cost me $40k. My initial instinct telling me to get out was correct and my account was about even. Their delay tactics is what cost me. I have 3 advisors with no communication that I would be switched and suddenly I was with Andrew Schiff ( this signal death spiral), who gave me about a 45 minute spiel on why I shouldn't leave. They should feature this brokerage firm on American Greed. The fact that they had a big interest in Bersa Gold and then pushed that onto clients should be investigated. Looking at the Bersa Gold proceedings it looks like Eurpac is going to get some of "THEIR" money back. Leaving the rest of us with worthless shares. Anyone want to purchase 8k shares of Bersa cheap. Seems to be a theme here, people ripped off by the BIG Bersa Gold Scam.
Pros: "Super friendly"
Cons: Same story different day
Here are more details on why you should not invest with europac.
I too got burned by Besra Gold, which is still yet to be relisted. I think Europac felt the pressure for highly recommending them as they are one of the primary lenders that have allowed besra to reopen their big mine in Vietnam. Besra still has not met the criteria for relisting on the asx(Australian exchange).
Europac intentionally makes it difficult for people to transfer out of their brokerage because they deal with international exchanges. Their excuse of course is "we are protecting you from the us dollar". Really when you think about it there is not much different from owning cnook on the asx vs owning ceo on the us exchange once its a stock. The local currency denomination has some impact, but it is not overwhelming as you will eventually will come back to us dollars to pay taxes, plus all of the extra fees paying for the foreign exchanges undermines any net benefit.
To continue along the same line. Because europac deals with international exchanges there is no way to put a stop on these positions. Yes, there may be a way if you have a schwab account, but not through europac. So if you have $10k position denominated in Norwegian Kroners, you cannot have a stop. If this stock were to drop hard, you could not protect yourself ahead of time. Lets say then you want to sell to stop inflicting more damage to yourself, you then have to wait until that exchange opens in that local country. It may take 2-4 days to even make the sell if you are unfortunate enough to try and sell at the beginning of their weekend and you catch that market after they have closed.
For commissions they charge you $100 for any buy/sell brokerage execution, if they recommended the stock to you which is almost always true they charge a $20/50 commission. If you are lucky enough to even have made a profit, they then take a 1-2.5% commission on top of that. No wonder Peter's rich, huh?
One would think that peter and his team would be an expert on recommendations. That's not the case. Many of the companies that are recommended are value traps that never seem to be strong enough to ride out the rough times contrary to what they tell you. The brokers don't care where the stock is in its chart cycle. They will take your money anytime regardless if the stock or market place is topping out. Do they know or care is questionable. I don't think they care and truly believe if you have cash in that account it must be spent immediately and will pressure you to do so. As energy and gold crashed the last few years, and I sat on my cash. They told me how dangerous it was to do so. I would've lost 90% of my money had I listened to them.
Long story short: They constantly recommend energy, commodity, and gold based companies even when downward trends would dictate otherwise.
With europac, the costs of "protecting" you from the US dollar far exceeds any currency loss you incur while being in the US dollar.
by Marshall Feder,
Pros: Nice Suites and car, wife isent flowers to my wife's funeral
Cons: No communication, high fees, lost everything, unreliable staff
After reading his book and independent research I agreed believed he was accurate in the government being bankrupt.
As I thought this was a sound foundation to capitalize on I invested everything I and my wife had saved from 57 years as a Fire Marshall and teacher for the mentally disabled.
With our 843k we meet with peter bridled before being quickly passed to a "broker". Although salesman/ con artist may be more apt.
He pushed us to invest in a South-East gold mine- in just 3 weeks we lost a 347k. Although we had plenty of worthless shares..
Our original "broker" quickly fell out of the picture and after no communication for 3 months- short of occasional email with links to his pod cast- we went to the office in person.
After many frustrating conversations we were provided a new "broker". Although we were charged for this transfer of accounts.
For the next few years we continued to lose time and time again. In total we had 4 different brokers.
In 2015 my dear wife of 52 years passed.
The only money I had left was still wrapped up in our accounts.
After much effort I was able to speak with Peter. I told him about Mar's passing and that I needed to close the accounts so I could pay for the funeral.
I was also hoping to bring our mentally disabled granddaughter to Disneyland.
A sort of distraction from the grief we all felt.
After reviewing our accounts I have as told that ; of the initial 750k we were down just 4K , plus the many many hundreds of shares in company's that we're essentially worthless.
And although he was aware that I needed to draw down and close our accounts so I could give my wife the best funeral she deserved and take our mentally disabled granddaughter to Disneyland he said I would have to pay a 2% closing fee.
Ultimately I had to cremate my wife as I didn't have funeral costs.
And I could not afford to take our grieving disabled granddaughter to Disneyland.
Please do not invest with Peter.
I have since lost my home and live in a nursing home. I'm on a fixed income with my military and fireman pension.
I really let my dear wife, granddaughter Ella and my children down.
Please be mindful.
God bless you all.
by Another Unhappy Long Term Customer,
Cons: High Fee Funds, High Commission, Lack of Transparency, Poor Performance
I started in 09 and the firm has really changed over the years. I had for the most part agreed with Schiff overall thesis about the Economy. Somewhere around 2011 they changed their structure and began pushing Extremely High Fee mutual funds. Not only were they high fee but the performance had been completely horrible for years on end.
Secondly, as mentioned by others on here the brokers turned into sales people not advisors. Putting you into high risk poorly vetted stocks like Bersa Gold which is worth nothing now. Babcock and Brown infrastructure that went to Zero. A stock would go down 80% and they would say well it’s still on our buy list. Then my broker quit and it was over two years before I was assigned a new one!!!! Worst of all I was passed off to some guy who is indoctrinated in Austrian Economics and tells me about all the value creation even though a stock is down 50-60%. It’s a joke.
Now that the broker I had with a bit of a conscience is gone, it’s like a boiler room just trying to extract fees. Since the metal’s price has come back some I have almost broke AFTER 8 YEARS!! Getting prepared to pay them there 2% commission to close my account. Unreal!!!!
As others have mentioned on here YOU HAVE BEEN WARNED!!!! There is nothing that EuroPac provides that you theoretically could not do yourself with an Interactive Brokers or Fidelity account with regards to buying foreign stocks on their respective exchanges, which was a complete lie Schiff use to spew. Investing with EuroPac was the worst financial mistake of my life.
by Eric Harris,
Cons: One is dealing with a stock agent, not a Financial Advisor
I joined EPC in 2010 with my IRA rollover of about $600K. I did so because I believed in Peter Schiffs sermons on the global economy. In 2010 he was advocating what he called dollar decoupling when foreign markets went into a recession causing the dollar rate to surge. It didn't happen because the Fed prevented it plus wealth funds all fled back to "zero risk" dollars. Peter admitted this miscalculation later. Since then I have lost $100ks by believing that my EPC rep was watching my back. Wrong. Their advisors are obligated to follow Peters dictates which results in a lack of communication to its clients. Your rep can't make a definitive reply without it being vetted by their legal dept. in my opinion Peter Schiff spends so much of his time in marketing that he should devolve himself from heading EPC investment choices. Time and time again he has proved to me that this doesn't work.
by Burned by EPC,
Pros: Nice Guy
Cons: High Fees, Horrible Performance, NO COMMUNICATION
We too lost a fair amount of money with EPC, all the while paying huge fees. No communication poor results.
We also lost money on ALL of the private placements. Again, NO COMMUNICATION. We are considering starting a class action suit against EPC. But we need more folks to get involved. Anyone else want to take on the beast?
I'm a former client, just closed my account. This brokerage firm is just horrible with no communication. I call the broker one day only to find out I was passed off to someone else as the broker left the firm. Never given the chance to interview the new broker. Then not having heard from the broker again for awhile, I call and that broker is gone too. I was then passed off to Andrew Schiff, Peter's brother. Seems that the brokerage was getting desperate as Andrew gave this huge spiel on why I should close my account, blah, blah, blah. Took a while because all of sudden he wasn't returning my calls and suddenly became on vacation. One nasty email and my concerns I was being ripped off got them to process my closing of the account. Still awaiting my last 50k and then I'm done. Down 15k over the 6 years I was there. They are not good at picking investments, had a number of their "investigated and recommended" stocks go belly up. Still have Bersa Gold which is worth exactly, ZERO. But I have 8,000 shares.
by Not good,
Cons: Do not know how to pick stocks.
Lost 50% of portfolio. Do not invest money with them or you will be sorry.
Pros: I did have a good broker, but he left suddenly
Cons: The brokers I have had since pay little attention to me, although I have a large account
I believe in Peter's philosophy, but would like to feel I am important enough to call and connect with every so often. It is causing me a lot of stress when I see my portfolio decline and being told to listen to Peter's podcast for an explanation. After I went to a managed account, on the advise of my previous broker, I don't hear from anyone unless I make the call. My rating is low because of the lack of attention I feel.
Cons: Knows enough to get you in trouble
Similar to the stories of other users I was a big fan of Peter and I didn't care too much for the large banks in my area. My Broker was slick and sold me on the opportunities I had being so young and investing at the "perfect time". Needless to say the small but substantial $25,000 I invested at the time quickly went to around $20,000 and then $17,000. At this time in order to transfer funds out of the company would leave me with almost a $10,000 loss in a relatively short period of time. When I asked for an in person interview to discuss if I was just a victim of the market, they declined to meet with me. I would assume because they already have my money what do they need with me now. If you are interested in investing with this company you should buy a boat, sports car, get involved in horse racing, or go buy the most expensive bottle of wine your local restaurant. At least then you can enjoy losing your money.
Pros: Nice Guy
Cons: Hopelessly Helpless
I've lost MANY thousands of dollars with them--well over 100K--and if I liquidate I'll be stuck with high fees and on the hook for private placements that have become total busts. If I quit them then I've lost somewhere over 200K!!!
I believe that Peter knows the problems with our economy and our country but he has been unable to translate that into making money for this client. Unfortunately, as of 6/28/15 my Euro Pac. accounts continue to fall.
You are warned!
I am a long time follower of Peter Schiff so naturally I invested with his firm for a few years. Unfortunately his firm is a mess. I think this is a management and leadership issue on Peter's part for allowing a group of people with low focus on service quality to run his firm. Some of the folks there are junior, unprofessional and obnoxious at times. Eventually I transferred all my funds out and moved to Charles Schwab. Read Peter's books, watch him make a fool of people on TV, but invest in his firm with extra caution - those folks don't run his business like Peter does to his other endeavors.
Just received a very rude phone call from them today. The caller demanded in a aggressive tone for my name, and then subsequently hung up after I responded. Who does this?
I expressed interest in this company in the past, but haven't heard from them in years. Why re-engage the conversation with such rudeness?
I have been following Peter for several years, read his books, listen to his radio show, and even financially supported his bid for CT Senate race. I have used his company Euro Pacific Precious Metals and have been very satisfied with the service to date, although I have only been on the buy side and have not sold anything to this point.
Now considering moving a chunk of my IRA to one of Euro Pacific Capital managed accounts. I asked my representative about the disaster in late 2008, and what their lessons learned were following a significant loss of capital and betting against the US dollar. They said that world investors still thought that the dollar was a safe haven in times of uncertainty, but that recent trends in the dollar, the debt, etc. have changed investor’s perspectives relative to the US economy, and that future world market downturns would not necessarily lead to a stronger dollar. Foreign markets were uncoupling from the dollar so would be less affected. He also said that Euro Pacific had benefited from significant gains in the 2003-2008 time period, so those long term investors were less impacted.
I philosophically believe in their approach (foreign dividend paying securities), but concerned that they don’t appear to be agile in their management, but rather have a low churn, and want investors to commit to a 5-10 year time frame. It is a lot of money to commit, and seems like it will be difficult to control if the markets make another 2008 like run. The returns from their three managed accounts were ~6%, 12%, 12% for 2010, but since they were only established in Nov 2009, there is not much of a track record to go by, and there was a lot of volatility month to month.
Invested many thousands with Euro Pacific from the recommendation of my father. Boy was that a bad recommendation. First off, they treated me like I was a waste of time because they're a "big deal" that usually handles accounts way larger and I was just a small fish to them. Then they had me place a little less than half of my money in Perth Mint, which was the only good idea from them, and the remaining money was to be invested by them. Perth Mint is a company that sits on gold and silver in Australia essentially. Euro Pacific then charged me a 3% commission and purchased a variety portfolio for me. After a year they had lost me 3% and I realized what a waste of time they were considering my own returns in my self directed brokerage and Roth IRA accounts. I called to liquidate my account and went through a nightmare to get my money. It took me over two weeks to get my check in the mail and then another week for the check to clear. Not only was that a pain but they charged me 2% selling commission along with other fees. All In all I lost over 8% of my money and wasted lots and lots of time. 8 Percent was thousands of dollars and I'm furious. Please do not trust these people with your money.
I have some stocks at Euro Pac that are up over 600% in one year…. That can speak for itself. My good US stocks that I have had for years have rarely seen more that 20% in a single year. Regarding the EPC strategy they invest in countries all around the world in different currencies and in different asset classes (not just gold and metal), How is that for diversification? I think they do a fantastic job and have excellent service compared to many other brokers I have dealt with.
by Unhappy EuroPac customer,
I'm considering closing my account. I've lost about 14%. Many of my individual equities are down 40 - 85% (one went belly up altogether.) I'm lucky the precious metal holdings shored it up. I never hear from my broker.
It's surprising there's so few comments anywhere on the net from their clients, unless I'm one of the disgruntled minority :-(