Exclusive, a new company called Gold Bullion International – Fox Business News
June 26, 2010
Exclusive, a new company called Gold Bullion International and Former Merrill Lynch CEO of Banking Investment Division
Fox Business News
View Clip: http://mms.tveyes.com/ExpandGuest.asp?ln=448868
Brian: Joining us in “”Fox Business”” exclusive, a new company called Gold Bullion International, former Merrill Lynch CEO of banking investment division.
Colbert: Thanks for having me.
Brian: You just launched yesterday.
Colbert: That’s correct.
Brian: So you’re new, new.
Colbert: We’re at this for a while. experienced team of financial services executives. we have illustrious Advisory Board, General Clark, Arthur Levitt. Gephardt. John Hathaway, congressman they have unique perspectives that helped develop this company.
Brian: We know how popular these things are. Paulson probably buying millions of dollars worth of Gold. what exactly do you do and who is your target market?
Colbert: What with do we create a way for retail investors to efficiently acquire and manage gold bullion and other physical precious metals. Historically this market has been fairly opaque. It hasn’t been accessible to everyone, to main street, if you will. Some of the brokerage firms that offer gold bullion very high minimums. Some as high as $20 million. Our goal to democratize the process so mainstream investors acquire precious metals. like mutual funds enhanced ownership 30 years ago.
Brian: we tell people go to the gold you say physical gold is best?
Colbert: We think physical gold is best. It is a paper asset. what we think is best is that actually own the real asset. ETF you own a share after that actually owns Bullion. so if that ETF were to go into receivership, you would just become a general creditor of the firm.
Brian: So you make deals with financial advisors. somebody goes into the financial advisor. I have x-amount of money I want to buy gold and physical. They would deal with you. Do you deal directly with the client or only through financial advisor?
Colbert: We have the ability to deal directly with, clients that is one of the elements of our business, but I think the core part of our business is ability to work with wealth management firms and their financial advisors. So in effect the advisor working with their client will be able to just put in the ticker which symbolizes the type of metal call and where they want it stored and of course the amount of gold or metal that they want to purchase. That order gets routed to our system, we go out into the marketplace because we have extensive network of precious metals. Notoriously hard to find these days, they see an opportunity as well working with us. We’re creating more of a opportunity than they had in the pasting with retail investors.
Brian: are you working with Gold today?
Brian: Gold Bullion International. Let us know how it is going. Everybody has gold fever these days.
Colbert: Thank you.
« Return to latest Featured Articles