Guidant Financial helps aspiring entrepreneurs with their desire to start or purchase their own business by simplifying the process of converting their retirement fund into an investment. We compiled available Guidant Financial reviews from around the web to determine what their customers think about the company.
For an in-depth comparison of three top ROBS providers, read our Rollover as Business Startup buyer’s guide.
Guidant Financial Customer Reviews
Summary of Guidant Financial Reviews
Guidant Financial doesn’t have many user reviews online but of the ones we found, it seems that they have generally mixed ratings. Here’s what we found:
What Guidant Financial does well:
Users who left a positive review liked that Guidant Financial offers all-around support to their clients, giving assistance through the entire process of getting funded and even after.
What Guidant Financial does not do well:
Users who left a negative review said there were communication issues, with a few reviewers complaining about surprise charges along the way.
Most Helpful Positive User Review
One positive reviewer on the review site Reseller Ratings said that Guidant Financial has helped him make the most of the complicated process of moving funds from their 401k into a new business. He said that the process he went through was very well-organized. Guidant Financial did everything for him so now he can focus on his business.
Most Helpful Negative User Review
A negative review from Yelp claimed that Guidant Financial was not a one-stop-shop like they claimed to be. The user said they will send you to partner firms and you will end up paying thousands of dollars more on top of what you pay Guidant Financial.
Guidant Financial Pricing
|401k Business Financing|
|Initial Setup Fee||$4,995|
|Ongoing Fees||$139/ month
(Additional $3.33/ month for each employee after 10)
|Wait time for funds||2-3 weeks|
|Audited plans in 2016||Approximately 0.32%|
|# of ROBS disqualified after audit||None|
|Will the firm help in the case of an audit?||Yes|
|Pre-ROBS outside counsel||Included
(Two 1-hour sessions)
|Outside counsel in case of an audit||Included|
|Annual number of ROBS||1600+ (60% franchises)|
Pricing Review for Aspiring and Current Small Business Owners
After paying the initial set-up fee of $4,995, the succeeding monthly fees of $139 cover all over plan administration. This means that Guidant Financial will be helping businesses every step of the way from filing all the annual documentations, to assisting with their rollover, and being ready to provide their services in case of an audit. An additional $3.33 per month is added to the monthly fees for every employee in excess of 10 employees.
It’s worth noting that Guidant Financial has one of the lowest percentage of audited ROBS transactions, adding to the security and stability it offers.