Phoenix Energy One, LLC Reviews 321

Phoenix Capital Group has proven to be a great investment option. They do what they say they are going to do and they do it when they say they are going to do it. I am shifting more of my retirement to them as I feel very comfortable with this investment.

Great investment, easy to get started, steady fixed interest income every month.

I was given plenty of guidance and assistance in opening my account and funding it to purchase the bonds with cash (from the sale of stock and other bonds). However my E*Trade Traditional and Roth IRA accounts funds transfer to a new IRA custodian Phoenix referred me to took so long (over a month) that the bonds were sold out before I could invest. I have $45,000 sitting in the new IRA account not earning anything for months now. I have been on your wait list since Nov 2, 2023.
I understand Phoenix reached the $75M in 12 month limit, does that mean no new bonds will be available for a year?
I have received monthly interest 4 months so far, which I am holding to re-invest as soon as you have more bonds to sell as well. I would prefer to have my interest to be automatically compounded. Please let the non-accredited investors know if and when that will be allowed.

I've read all the wonderful reviews. But I would not invest with them. They have purchase land and mineral rights with people who have invested with them. The funds are not back by any FDIC. So they are paying you back with your own money using a junk bond strategy. Has anyone ask the question what happens if the business fails ? Remember it is a family business. The owners will make sure that they will always land on their feet.

I’m very pleased so far with the level of professionalism Phoenix Capital uses.

I mistakenly purchased their bonds outside of my IRA. When I told them of my mistake, they seemed eager to correct it, but it has been almost a month now and they are requiring such a convoluted process that it is making me very nervous (roadblocks keep appearing). They told me they couldn't wire the redeemed money from the original investment to a brokerage account, so I gave them a statement, bank verification form, and drivers license (all at their request) to have it wired to my bank. After I gave all that info to them, they decided that they couldn't wire it to my bank, either, and they had to mail a paper check to my unsecured home mailbox. They would not let me hold the bonds in my current IRA, and required that I open a new one with the provider they specified. They would not allow me to initiate the transfer wire from my old IRA to my new, something that my broker said he had never heard of before (me neither), and required for me to sign a form allowing them to initiate a wire from my current IRA. Finally, they want me to buy the bonds in my IRA before redeeming the existing bonds and STARTING the transfer, meaning I have to expose twice the cash of my initial investment. This should have taken a couple of days, and I have already logged more than 120 emails trying to work this out. Admittedly, this was my screw up to start with, but all of the strange things they are asking make me suspicious of their legitimacy.

Update - I was contacted by Phoenix shortly after this review was published, and they created a plan to resolve all of my complaints, which was much more in keeping with my initial contact with them. They say that this whole process I went through transpired during a season when they were modifying many of their security procedures. I will update this review again when they have actually implemented the solution they proposed. Updating review from 1 to 3 stars, pending resolution.

Update on 3/18/24 - updating my review to 4 stars from 3. After 2 1/2 months and 190 emails from my first request, the bonds seem to be transferred successfully into my new IRA. Not quite 5 stars for four reasons: 1) much harder than I felt it should have been, 2) still feel like there were a lot of unorthodox practices, but that's likely a consequence of working with a relatively new and smallish organization without benefit of some of the things I probably take for granted with my established broker, 3) it took the initial negative review to get past some roadblocks, and 4) the balance in my IRA is not being updated with monthly compounded interest payments - the only place I see them is on the Phoenix site. I admit I am new to private bonds, and perhaps this is normal, but it seems strange to me that I won't see any change in my IRA value until the bond matures in 7 years. On the bright side: 1) they did accommodate my request to move these bonds to an IRA (a huge plus), 2) once higher management got involved due to the review, they were very accommodating. My sense was that the rep I was working with really wanted to help but just didn't have the authority

Overall, I feel like these guys want to do the right thing but are extremely cautious - I'm guessing because they might have been burned in the past.

3/20/24 - changed the title to be less negative and more reflective of the final resolution

Great follow up and easy to access portal to track investments!

The people at phoenix capital group have been helpful and attentative. The investment has better returns than anywhere else that I could find. It's early days for us, but our first payment was on time and in full.

Investing with Phoenix Capital has been a pleasure. The investment opportunity, consistence interest payments, interest rate, transactions and paperwork, and responsiveness have all been on point with me. I look forward to having a long financial relationship with Phoenix.

I'm so glad I've invested with this company . I've recommended them to my family and friends .

Phoenix Capital delivers nothing but excellent service to their customers.
Very professional

Getting support, clarification was easy.

From the start, the team was extremely courteous and responsive to all my questions and concerns about moving my IRA funds and setting up an account with Phoenix. Those human to human skills are extremely meaningful to me, especially in a numbers-are-important environment.

I was equally touched by the thoughtful and beautiful Yeti cup for Christmas last month. It was an unexpected, classy gesture and I was hoping I'd get a chance to thank the team for creating and continuing such a welcoming, genial atmosphere with your investors. It's really refreshing!

Communication is excellent. The interest payments are timely
And a promised. The website makes it easy to keep up with your investment. SWELL Performance All The Way Around!
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Receive interest checks on time and they are a good company to invest in.

Worthwhile investment and excellent service. Team answered every question and stepped me through every part of the complex investment process, which for me included setting up an IRA. Easy to navigate their website. Plus, it's hard to beat the returns, if you have some funds to tie up for a short 3 years. Recommended!

So far Phoenix has been great. We enjoy the web meetings the company holds, they are very informative. The distributions are on a set schedule. It has been a joy to be a part of this.

Been a participant for 2 months now. Everything going exactly as indicated during the sign up process. Great experience so far.

Got a fast response to my question about RMD's