About Ty J Young
Ty J. Young, found online at TyJYoung.com, is a company that describes themselves as “a nationwide Wealth Management firm” whose goal is to help their customers invest their retirement funds safely and smartly.
How Does It Work?
According to their website, Ty J. Young founded his wealth management firm in 1998 after working in the finance, securities, and insurance industry for over 20 years. Specifically Young started his company after seeing how many people were keeping their retirement investments in places where it could easily be lost.
He didn’t understand why people were taking such serious risks with money that they honestly were not willing to lose. He realized that it was because most people simply didn’t know what to do with their retirement funds.
His website says that he started his business to help his customers find investment solutions that focus on three of the most critical areas of investing: safety of principal, reasonable rate of return, and keeping it simple.
To get started, his website asks that people download his free investors kit to get the information they need to decide where to safely and smartly invest their retirement funds.
The investors’ kit being promoted by this website as a first step for their customers is actually completely free of charge. If customers do decide to continue working with this company on their retirement investments, then certain charges and fees will apply, but customers will want to question company representatives directly regarding which fees will apply to their specific case.
Because this is a financial product and not a traditional good, there really is no way for this company to offer a refund of any kind. In fact, the type of fixed annuity being promoted by Ty J Young Inc is one where your money will be locked in for a certain number of years and cannot be touched without a financial penalty, so customers will want to think carefully before committing to this kind of an investment.
Customer Service Contact Info
Customers who would like to contact Customer Service with any questions, concerns, or complaints can do so by phone at 877-912-1919.
Unfortunately this company suffers from a long list of serious complaints, problems, and issues. First and most important is that this company is not an investment company at all; they’re an insurance company. The fine print of their webpage clearly states:
“Ty J. Young Inc. is regulated by the GA Office of Insurance and Safety Fire Commissioner as an insurance agency. Ty J. Young, Inc. is not an investment advisory firm and is not registered with, or supervised by, the U.S. Securities and Exchange Commission or any state securities regulatory office.”
This misrepresentation by this website and company should be enough for consumers to not trust them with their finances, but there are further issues. The financial product this company is selling are fixed annuities, and their website treats these annuities as though customers’ money will be safe and sound without the risk of other financial investments.
This simply isn’t true. Customers can lose money on these investments and as a product of the insurance industry, these annuities are not guaranteed by any banks nor are they insured by the FDIC.
Concerned customers should never trust their money to a service that blatantly lies and misrepresents themselves and their goals. Instead, you should take your money to trusted financial advisor to receive direction on how to best manage your retirement fund.
Competitors and Alternatives?
There are many, many companies whose financial goals include or are entirely focused on helping their customers save for and properly invest in their retirement. Customers do not need to think that this program or programs like this are their only option. Popular retirement investing companies include Manulife Retirement, Vanguard, Voya Financial, Blooom 401k, and many others.
If you have any experience with this company or their products, please leave your Ty J. Young reviews below.