Anybody invest through EuroPac?

A

adamni

Member
Joined
Oct 5, 2007
Messages
14
I want to take Peter Schiff's advice and invest money overseas, so I wanted to see if anyone here has invested through EuroPac how you like it. I'm not concerned so much with how your portfolio is doing as I am with a few other things:

- How much do they charge?
- Is it easy to get ahold of the brokers and get their advice?
- Can you put in orders online, or does a broker have to do all of that?

Are there any other competitors out there that do something similar to EuroPac? I'm mainly interested in buying some stocks denominated in the foreign currencies where the stocks are located.

I'll probably end up going with EuroPac, but I just wanted to see what other options might be out there. I haven't really been able to find anything else just searching online.
 
I haven't had the best experience trying to get them to get my business.

Filled out an online informational form to roll over my 401K.
Received a call back from a sales rep that said he would send me info.
No call back
Called them back, and talked to a new sales rep. He didn't want to 'cross wires', so he said he'd get back to me.
He did call back. The other guy had no record of me. New guy says lets start over. Spends 10 minutes with me and says he'll send info.
No written correspondence, no email, no call back.
That was two weeks ago. Frankly, I'm not impressed so far. I'm sure they are just too busy with the big players or something.
 
Bruno said:
I haven't had the best experience trying to get them to get my business.

Filled out an online informational form to roll over my 401K.
Received a call back from a sales rep that said he would send me info.
No call back
Called them back, and talked to a new sales rep. He didn't want to 'cross wires', so he said he'd get back to me.
He did call back. The other guy had no record of me. New guy says lets start over. Spends 10 minutes with me and says he'll send info.
No written correspondence, no email, no call back.
That was two weeks ago. Frankly, I'm not impressed so far. I'm sure they are just too busy with the big players or something.
Click to expand...

Yeah, I'm sure they are really busy right now, which is one reason I'd like to know if there are any other companies out there I could check out.
 
I doubt they are busy with the big players. I had no problem setting up an account with Europac and I only put 10k in.
 
adamni said:
I want to take Peter Schiff's advice and invest money overseas, so I wanted to see if anyone here has invested through EuroPac how you like it. I'm not concerned so much with how your portfolio is doing as I am with a few other things:

- How much do they charge?
- Is it easy to get ahold of the brokers and get their advice?
- Can you put in orders online, or does a broker have to do all of that?

Are there any other competitors out there that do something similar to EuroPac? I'm mainly interested in buying some stocks denominated in the foreign currencies where the stocks are located.

I'll probably end up going with EuroPac, but I just wanted to see what other options might be out there. I haven't really been able to find anything else just searching online.
Click to expand...

I can answer part of it. I tried contacting them a couple of weeks ago using their "contact us" page. I explained my situation and asked for additional information. I never got a response. I called and was directed to a broker who answered some of my questions. They charge an upfront fee of 3.5% for contributions into accounts under $100K in value and 3.0% upfront charge if your account value exceeds $100K. There is also a $50/yr fee and a 1% fee for any transactions, like say from reallocating monies in your portfolio. Any additional contributions you make to your account are subject to the 3.0 or 3.5% fee.
 
theoakman said:
I doubt they are busy with the big players. I had no problem setting up an account with Europac and I only put 10k in.
Click to expand...

Do they give you any kind of web access to see how your funds are doing or do you have to look them up on the individual foreign markets and make the calculations yourself?

And how diversified is the portfolio you got for $10K? How many different stocks are you invested in? I have about 15K I'm thinking of rolling over so I would assume we would have a similar allocation.
 
Bruno said:
I haven't had the best experience trying to get them to get my business.

Filled out an online informational form to roll over my 401K.
Received a call back from a sales rep that said he would send me info.
No call back
Called them back, and talked to a new sales rep. He didn't want to 'cross wires', so he said he'd get back to me.
He did call back. The other guy had no record of me. New guy says lets start over. Spends 10 minutes with me and says he'll send info.
No written correspondence, no email, no call back.
That was two weeks ago. Frankly, I'm not impressed so far. I'm sure they are just too busy with the big players or something.
Click to expand...



Is it even possible to rollover a 401K into Europac?
 
smsnead2 said:
Do they give you any kind of web access to see how your funds are doing or do you have to look them up on the individual foreign markets and make the calculations yourself?

And how diversified is the portfolio you got for $10K? How many different stocks are you invested in? I have about 15K I'm thinking of rolling over so I would assume we would have a similar allocation.
Click to expand...

Yeah, you have web access to view your account. I'm not diversified at all really. I got 4 stocks. I basically knew what type of investments I wanted going in though. I used them because they are pretty much the easiest and cheapest way to get into the foreign market. I also have a great respect for Peter Schiff, so I figured I might as well give him the business.

It all depends on what your looking to do. If you need that money in the next 4 years, I would tell you to keep it. I already had money in gold and silver before I contacted them. I put some in water treatment, agriculture, commodities, and mining. I'm not looking to touch it any time soon.
 
recess said:
Is it even possible to rollover a 401K into Europac?
Click to expand...

I'm encountering that problem right now. My 401k with my CURRENT employer does not allow me to roll over funds. I would essentially have to withdraw the money and take the 10% penalty hit (although the presidential candidates are discussing waiving this), pay federal and state income taxes on the distribution (approximately 28% in my case) and possibly limit itemized deductions, exemptions, etc. I would pretty much have to bank on taking a 40% hit on removing monies from my 401k to invest in EuroPac. My wife does have an IRA that was rolled from a 401k from her FORMER employer. I could roll these monies into an account with EuroPac no problem. I agree, though, most 401k plans do NOT allow you to rollover monies while you are still employed. It is very rare for them to allow you to do so. You would have to review your plan summary to see if it is allowed or not.
 
I saw an earlier poster say he had 10K invested with them. That was what I was looking at for this year's IRAs for my wife and myself. They were very nice on the phone but politely told me to get adequate diversification they would really recommend at least 50K. (we are young and last year was the first IRA so we don't have much to roll over) Did mention that I could call back if I had a questions about specific companies and they would answer them for me.
 
smsnead2 said:
I can answer part of it. I tried contacting them a couple of weeks ago using their "contact us" page. I explained my situation and asked for additional information. I never got a response. I called and was directed to a broker who answered some of my questions. They charge an upfront fee of 3.5% for contributions into accounts under $100K in value and 3.0% upfront charge if your account value exceeds $100K. There is also a $50/yr fee and a 1% fee for any transactions, like say from reallocating monies in your portfolio. Any additional contributions you make to your account are subject to the 3.0 or 3.5% fee.
Click to expand...

Those are some high fees. Look for non-fee investments. There are no-fee mutual funds which invest in all kinds of things including foreign companies. Vanguard has some of the lowest cost funds. You should not be charged to set up or redeem a fund. Look for the term "no load". Those fees pay the dealer and cut into your returns.
 
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