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Warning Against Phoenix Capital Group Holdings for Consumers

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To clarify the crucial aspects of this organization, I have several grievances with Phoenix Capital Group Holdings. There are some favorable reviews as well, but since that’s just how things work, we tend to focus on the bad ones. It is necessary to understand the background and history of Phoenix Capital Group Holdings before proceeding.

Phoenix Capital Group Holdings, LLC: A Brief Overview

A disputed oil and gas mineral rights acquisition and investment organization, Phoenix Capital Group Holdings, LLC was founded in 2019 and has its headquarters in Denver, Colorado. The company’s operations mostly include mineral rights purchases. 

Several locations, including Irvine, California, Casper, Wyoming, Dallas, Texas, and Fort Lauderdale, Florida, are included among its satellite offices. 

The corporation, which is controlled by a family, directs its efforts toward aggressive capital deployment and asset management. It often gives priority to initiatives that might be seen as abusing individual landowners and investors. 

On the other hand, even though Phoenix Capital Group Holdings asserts that it combines extensive experience in the energy industry with sophisticated technology and professional financial skills, the strategy that it employs may be perceived as being self-serving and driven more by profit objectives than by a genuine dedication to the company’s customers. 

Phoenix Capital Group Holdings, LLC: Clients Reviews Exposed the Truth

Reviews of the company shed light on some aspects of Phoenix Capital Group Holdings, LLC’s business procedures and connections with clients. These aspects are of concern.

There have been several complaints that point to issues such as providing deceptive information, providing poor customer service, and being unable to fulfill responsibilities.

Based on the allegations, it is clear that the corporation habitually engages in activities that have the potential to cause harm to its consumers.

As a consequence of these evaluations, it seems that the organization may prioritize its interests above those of its customers, which creates concerns about the reliability of the firm as well as the amount of ethical standards it adheres to.

#1. Consumer Dissatisfaction

According to the assessment mentioned above, the individual claimed that they had formed an IRA with Advanta at the request of Phoenix Capital Group Holdings, LLC. They said that they had received emails from Phoenix Capital offering communication, but they had not received any response. 

They were quite aback to learn, by email, that their money was accruing interest even though it hadn’t been disbursed yet. The observer observed that Phoenix Capital seemed to be lacking in internal coordination. 

Despite having $100,000 ready to spend, they discovered that they were the only ones using the website. The inability to quickly change the amount they were investing in irritated them. Overall, they said that while Phoenix Capital seemed trustworthy based on their research, their experience had been delayed and unclear.

#2. Lack of Communication


Here, in the review mentioned above, the individual said that there had been inadequate communication. They said that to get the deposit, they had to contact them four times. They saw a deficiency in communication amongst their office’s staff members. 

The individual said they had thought about pulling out of the agreement. They finally traveled from [location] to [location] to meet them at their place of work. They commented on how good the team was there. They did point out that the finance department had behaved rudely.

#3.Wastage of money & time

The individual who left the review above called it their worst financial error to date. Although they contributed their money in October claiming to want to invest, it was never used. 

They said that the corporation had stated that they were awaiting a chance to transfer their funds into an IRA. They said that the firm would periodically get in touch with them to reassure them that their money would be put in the IRA account as soon as an opportunity presented itself. 

They acknowledged that they weren’t quite sure what it meant, however. Noting that they lost a great deal of interest on what would have been a $20,000 investment, they believed it was an absolute waste of time and money.

They finally transferred their funds to another IRA account after six months of waiting. They were sorry they had put their faith in the business.

#4. Misleading


The individual said they had used CannaEats in the past and thought it was reliable and excellent. They felt, very honestly, misled by their present experience, nevertheless. They pointed out that while the 9% Annual Percentage Yield (APY) was referenced in the company’s disclosures, they felt CannaEats might have made it more obvious that this equated to 0.75% every month. They believed that the communications and sales presentations ought to have included this information.

SEC Allegations Against Phoenix Capital Group Holdings 

(Source)

Conclusion

The Phoenix Capital Group Holdings, LLC has a reputation that is considered to be average, according to the assessments of customers and the practices of the industry. Even though the firm claims that it is the most prominent investor and buyer of oil and gas mineral rights, the complaints that consumers have brought to light major shortcomings.

Some consumers have a poor image of the organization due to issues with communication, service delays, and what they perceive to be deceitful techniques with financial items.

In light of these criticisms, the operational effectiveness of the firm and its focus on the client are called into question. This is even though the company has given assurances that it would include cutting-edge technology, financial expertise, and a significant amount of industry experience.

The allegations that include the Securities and Exchange Commission (SEC) and other regulatory bodies bring to light further potential problems with compliance with ethical standards and rules.

Before deciding to collaborate with Phoenix Capital Group Holdings, LLC, investors, and other stakeholders should give serious consideration to their financial objectives and their level of comfort with risk.

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