Phoenix Capital Group Holdings is a Scam? Find Out The Truth

Originally Syndicated on June 24, 2024 @ 8:48 am

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: Customers Reviews Highlighting the facts

Concerning parts of Phoenix Capital Group Holdings, LLC’s business practices, and relationships with customers are brought to light by reviews of the firm. 

Several complaints indicate concerns such as misleading information, bad customer service, and inability to keep obligations. 

Allegations show that the company routinely participates in actions that possess the potential to be damaging to customers. 

As a result of these assessments, it seems that the corporation may put its interests ahead of those of its consumers, which raises questions about the company’s dependability and level of ethical standards.

#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

Mixed reviews for Phoenix Capital Group Holdings, LLC have been reported by customers and business analysts. Customer complaints highlight serious problems even though the company presents itself as a major participant in investments related to oil and gas mineral rights.

Due to poor communication, service delays, and what they believe to be dishonest financial tactics, some customers have a bad opinion. Notwithstanding the company’s assertions of using cutting-edge technology, financial know-how, and a wealth of business experience, these complaints call into question the effectiveness of its operations and dedication to client happiness.

Furthermore, accusations involving regulatory organizations such as the SEC raise questions about following the law and moral principles. It is recommended that prospective stakeholders and investors thoroughly assess their risk tolerance and financial goals before to interacting with Phoenix Capital Group Holdings, LLC.