Ricky Harmon

Review of Goldin Peiser & Peiser, LLP

I was referred to Allan at Golden, Peiser & Peiser...

I was referred to Allan at Golden, Peiser & Peiser for a relatively simple question regarding whether or not self directed IRAs from a husband and wife could form a partnership and own the same real estate holdings without violating any self-dealing or other IRS guidelines that would trigger penalties or a taxable event.

Allan agreed and scheduled a time for us to come in and chat. We met with him and a junior guy for about 15 minutes and basically they told me it was possible and discussed what I told them I wanted to avoid and was already aware of....didn t really learn anything new and they just reassured me that it was perfectly fine. They didn t agree with it from a financial standpoint but didn t provide advice from that aspect. Then came the invoice.... I was billed for 2.5hrs of research @$450/hr. They were nice enough just to knock it down to a cool $1,000 because of my devilishly handsome good looks and striking personality.

Needless to say this feels like highway robbery as I don t believe it took 2.5 hours and I suspect the poor guy who actually did the research probably is not making anywhere near the $450/hr that I was charged. Maybe this is standard fee and some of you will not be shocked by this...if so - it is still absurd!!

I think I now understand why Golden is the first name/partner in this business....