The Verdict, in Brief.
Firm History & Standing.
Founded 1997 in Los Angeles by Kevin DeMeritt. Weathered 2008 and the 2011 gold peak. Runs with a small leadership team and minimal turnover. a pattern that correlates with consistent service quality. A+ with the BBB.
The Fee Schedule.
$280 first-year all-in covering setup, administration, storage, and insurance. Around $200 at renewal. Higher than AHG or Birch, but reflects a segregated-storage default (most peers default to commingled).
Custody & Service.
Delaware Depository exclusively, with segregated storage as the default. a consumer-friendly structural choice that justifies part of the fee premium. Eight senior relationship managers, each with 10+ years of tenure, handle the book.
Buy-back & Liquidity.
Buy-back at spot with a 1% discount. the only firm in the top six to keep a discount structure. Disclosed up front, not a surprise at sale, but a real cost.
Reservations.
That 1% spread is a genuine drag versus Lear or AHG's zero-discount commitments. On a $100,000 holding over ten years, it's about $1,000 of retained value. On the other side, segregated-default storage is itself worth a meaningful premium, and the 29-year record is unmatched.
Who Lear is For.
The allocator who weights firm longevity as a material factor, wants segregated storage without having to ask, and can live with the 1% buy-back discount. Works for $25,000 to $500,000 accounts looking for senior-level service.