I left American Independence Gold because I had concerns about the way customers were being handled, and this is my personal experience and opinion. The man who presents himself as David Harper actually has the legal name David Wolan. In a 2020 federal case, Mathys v. The Hartford Gold Group (N.D. Ill., No. 1:20-cv-03927), Wolan was listed as a defendant and accused in court filings of using an aggressive marketing campaign that warned a customer about economic collapse and government seizure of assets, then pushing him to cash out retirement accounts and invest with the company. Those are allegations from a public court record.
One of their main marketing claims says, “Wall Street Can Legally Seize Your Retirement in the Next Crash.” I think that is misleading. Under ERISA, 401(k) money is held in trust and kept separate from employers, brokers, and custodians, with protection from creditors even in bankruptcy. A market drop can reduce the value of an account, but that is not the same as seizure. And rolling a 401(k) into an IRA can actually mean giving up some federal protection.
The company says it has been around for seven years, but Florida state records show the American Independence Gold name was registered in January 2024. From what I saw, metals were being sold at markups far above market value, sometimes close to 100%. Customers are given account values over the phone each month instead of receiving a written statement from the company.
If you are already a customer, I’d get your IRA custodian statement and an independent valuation from a local coin dealer, then compare those numbers with what you paid and what you’ve been told by phone. Before moving retirement savings based on warnings like these, it would be wise to speak with an independent advisor or attorney.