In this exclusive interview, we sit down with Brandon Thor, a dynamic entrepreneur whose journey from childhood ventures to leading a successful precious metals company is nothing short of inspiring. Brandon shares his early experiences, starting with neighborhood businesses and evolving into larger, more complex ventures. He discusses the valuable lessons he learned along the way and how they shaped his path to success. Join us as we delve into the pivotal moments and key insights that guided Brandon Thor in building his empire in the precious metals industry.
1. Could you share a childhood experience that you believe ignited your interest in entrepreneurship or set the stage for your ambitious career path?
When I was a child, I was constantly trying to start businesses. I did not know it at the time, but it was a direct foreshadowing of what my life path would end up being. When I look back, I never had a goal for the money. I never saved for anything. It was almost as if the business was a game, and money was a way to keep score, but as far as money being the purpose for starting the businesses, which was never the motivation.
I remember starting a trash business where I would take my neighbors’ trashcans in and out every week. I expanded that but soon realized the limits of a sole proprietorship and the benefits of workers when I started a neighborhood newspaper, hiring all the kids in my neighborhood as journalists. The name of the paper was the Arcadia Eagle, and upon requesting an interview with the editor of the Pasadena Star News for pointers on running a news publication, she turned the tables on me and interviewed me about my venture, fascinated that an 8-year-old could produce a monthly newspaper.
There were other ventures ranging from selling inflatable furniture to a short “black market” dalliance selling candy I had obtained in bulk at Smart and Final out of my backpack at a Catholic grammar school. Needless to say, it took one afternoon of 36 12-year-olds on a sugar high for that enterprise to be shut down, and for me to do some hard time in detention.
2. How did your educational pursuits at USC, particularly the dual JD/MBA program, prepare you for the challenges of the financial and precious metals industries?
I am going to give a rather unique answer to this question as I feel that I was way too young to really digest the curriculum being taught in my business classes and apply their lessons. However, I feel that my B.A. and M.B.A. gave me a level of confidence that even if I did not know something, the person next to me must not either. I feel that confidence, being 90% of the battle (the other 10% being the actual willingness to learn or figure out that thing you don’t know), served me well in that capacity.
My law degree I cannot say enough about. Even though I do not practice law, law school teaches you a new style of thinking that is incredibly effective in negotiation, contract drafting, problem-solving, and of course, if legal issues arise, having at least a rudimentary understanding of what you are dealing with before you have to spend thousands on actual legal representation. Thus, all the degrees served a purpose, if not the stated purpose of getting them, which is to learn the specific curriculum that needed to be mastered to earn each degree, be it to bolster my confidence or to provide me an alternative way to think and look at situations, opportunities, and risk.
3. Reflecting on your early career transitions, from investment banking to sports management and finally to precious metals, what drove these significant changes?
These changes were driven by not being in touch with myself and what made me tick. I always excelled academically, and as such, was encouraged to continue collecting degrees like baseball cards, but I was never encouraged to think beyond what my scholastic aptitude dictated I should be doing by societal standards. I would find a little piece of myself in a job, but the rest of the job would be completely ill-fitting. I would then switch, and déjà vu.
It was not until I finally faced the realization that even with these fancy degrees, I loved to sell, and if I believed in what I was selling, I was quite talented at it. Once I was able to face this reality and not view the 8 years of higher education as a complete waste (because they certainly were not), I was able to pursue a path that I genuinely enjoyed. Selling encompasses so many things, from psychology to the necessity of having knowledge about a myriad of different subjects to connect with various clients, to in my case, understanding not just precious metals, but all the other financial sectors that were interconnected with precious metals. I found it so stimulating and found it almost to be a playground of various intellectual pursuits, as you could learn about really anything, and it had the chance of helping you close a deal somewhere down the line.
4. You have recalled with us a pivotal scene reminiscent of “The Wolf of Wall Street” that influenced your career direction. Can you expand on that moment and its impact on your decision to enter the precious metals market?
Sure, I was 29 years old and working as a sports agent in Beverly Hills. Being a sports agent is one of those glamorous jobs that men incorrectly believe to be a close second to playing professional sports. It is a fantastic job, though. I played baseball my entire life, so I was around a game I loved and enjoyed the people involved in the sport. It involved a lot of selling, as you were selling yourself to be the representative of whatever player you were pursuing, and it was a social job, which played to my personality quite well. The problem was, there were about 10,000 other young men who saw the job as appealing, which I found myself in competition with to land a coveted spot as a junior agent at one of these firms. I succeeded in landing that spot but soon found out that where there are literally thousands of highly qualified applicants competing for maybe 10-15 jobs across the big agencies, the pay did not have to meet the same competitive standards. Thus, I was living in LA with this job I loved, signing players that would take about 6-7 years before they made a meaningful salary, I would be paid a commission on, and in the meantime making $36,000 a year. That was not exactly the first thing you put on a dating profile. I was actually at a sports bar with a friend who would become the founder of the first precious metals firm I worked at, and he said in no uncertain terms that what I was doing was not the most lucrative of options and that he had made $70,000 last month brokering precious metals deals. Akin to Wolf of Wall Street, I told him “Show me your paystub right now, and I will quit my job.” He did, and I did.
5. The founding of Thor Metals Group marks a significant shift towards ethical practices in an industry rife with exploitation. What were the initial challenges in establishing a new standard, and how did you overcome them?
I am going to be delicate in how I answer this question by first reemphasizing that this is an interview asking for my opinions/perception on different subjects. Thus, I want the reader to be mindful that what follows is an accounting of how I saw specific events/actions that occurred during both my career as well as the seminal beginning months of the company’s existence and the conclusions that I drew from these occurrences. When I speak of exploitative business practices, I am not implying that the companies I worked for before starting Thor Metals Group sold chocolate coins with gold wrapping but rather that precious metals have always been a sector of the investment world shrouded in secrecy. Because they are direct competition to the banking system as a store of wealth and a direct threat to Wall Street’s fee-based compensation structure, in my belief, there is purposely a lack of readily available, objective education on investing in them. I also believe that because of this lack of readily accessible education, there is a large opportunity to overcharge and/or sell metals that are in the best interest of the broker and his/her firm (i.e., proprietary coins produced solely for that broker’s firm). I would estimate around 99 out of every 100 people who I would interact with while working as a broker in the industry had never invested in precious metals nor knew much of anything about how it was done, what specific metals one acquires, or possessed any sort of foundation of knowledge. This naivety can easily be exploited and done.
I started in the industry bright-eyed and bushy tailed. I drank the Kool-Aid on the methods used to sell it and the prices charged. I slowly became increasingly jaded as I realized the coins we were “recommending” did not pass a major litmus test of my conscience, which was, would I sell this same portfolio to my mom or dad. It became increasingly clear that the metals “recommended” were in the best interest of only one party: the company selling them. The client, by contrast, would have been better served acquiring metals that had universal recognition and liquidity. These metals also just so happened to possess much lower profit margins. You see, the way this industry works is there are a lot of companies out there selling proprietary coins (coins produced just for them). This gambit is effective because given that the coin is produced exclusively there is no way to price shop it in the same manner as an American Eagle or a Canadian Maple Leaf or any other mass-produced government minted coin where a simple google search gives the investor a very good idea what he/she should be paying. What is particularly worrisome is that it is not just a few bad apples engaged in the selling of these illiquid proprietary coins. You might need to pick your jaw up from off the ground but there actually is almost zero exception to this sales strategy.
This means that if you are a first time metals buyer and you google “top gold dealers” or call one of the companies that you hear advertise all the time there exists a roughly 99.99999999% chance that you will be steered into exclusive coins or metals with an unjustified premium (a premium you do not recoup on the liquidation). Keep in mind all us brokers had to go off a trading portal with the supposed “wholesale” prices and commission %s, so as I gained more and more certainty that the investor was getting a raw deal, I was also simultaneously gaining more and more certainty that us brokers were also suffering our own unique brand of exploitation. This exploitation came in the form of our trading portals listing fraudulent wholesale prices which not only unfairly cut into the commissions we were lawfully entitled but also induced us to sell these proprietary coins by raising the “wholesale price” on universally recognized coins that had a much more visible market, one that was substantially easier for the investor to price check online given the coin was made for more than one company.
It was through a series of random fortuitous events that I stumbled upon a true wholesale portal for the first time. I could not unsee those prices. I resolved to quit the industry at once. However, on second thought, I realized that if I did, there would be countless hardworking retirees that would fall victim to this endemic scam of sorts, as there was almost no company that did business fairly, certainly not among the visible, heavily market gold companies. Thus, Thor Metals Group was formed. The first challenge was how to compete in marketing with the big boys who possessed astronomically high amounts of capital gained from the above-described business practices. I found the best way was through education, but again, the problem presents itself as to how do you widely spread this education and finding channels to widely disseminate this education. It is not nearly as expensive to teach people how to properly invest in precious metals in general as opposed to heavily marketing your company.
Therefore, I pursued a marketing strategy involving gaining access to a loud enough microphone into which I could speak the truth about gold and silver, the industry, and most importantly pull back the curtain on an investment sector shrouded in secrecy. This microphone did not need to be used to trumpet Thor Metals Group but rather to trumpet practicing integrity and hoping that if that lesson was absorbed by investors, then my company would be found as the only game in town by default who was doing business with a high level of transparency, honesty, and integrity.
6. Given the legal challenges and corporate sabotage you’ve faced since starting Thor Metals Group, can you share how these experiences have shaped your leadership and crisis management skills?
Leaving off with how question 5 was answered. The company got off the ground through swaps. Swaps involve not divesting one’s position in precious metals but rather pivoting the specific metal invested in from a highly illiquid, proprietary coin to a much more liquid universally recognized one. Countless investors were able to benefit from this type of transaction as getting out of illiquid proprietary coins and into coins with much more liquid appealing markets were in their best interests and would perform better for them over time.
This strategy proved wildly successful, to the chagrin of the industry, who at once identified me as a threat and sought to destroy my company. Through lawsuits, collusion with custodians (who received millions of dollars in business from customers of these large metals dealers), and actively working to sabotage my relationships with the various partners I needed to conduct business in this industry, the perpetrators of these attacks were able to initially stymy what was a wildly successful start to my company and put it in a position where its very existence was threatened.
When you want to change a multibillion-dollar industry that is rife with bad actors, you must expect that there is going to be this type of pushback. Granted, I never in my wildest dreams expected this type of dirty play, but I continued to push forward with the belief that my business model was an unpolished gem and that I just needed to stay alive and catch a few breaks, and I could survive. Both occurred. I was able to stay alive just long enough to land a few large deals that breathed life into the company and righted the ship and now here we are.
7. You’ve expressed a deep commitment to educating consumers about precious metals investment. What are some misconceptions you frequently encounter, and how do you address them through your company?
I mean, you name it, it has been said. The asset is illiquid because it is physical (untrue, it is easier to liquidate than a stock in that it takes less time). It has underperformed the stock market significantly. I love this one because financial advisors cherry-pick the year 1980-present. From 1980-2000, the stock market doubled 13 times over, and gold never moved in price. However, from 2000-2024, the stock market is up about 75% total (given its crashes every about 8 years), and gold is up 1000%. Thus, yes, the stock market has outperformed gold in the last 50 years, but 99% of that outperformance was in the first 20 years. The last 24 years it has been a completely opposite situation and one that should continue. When analyzing any investment, I would like the most current data. I don’t care that Barnes and Noble outperformed Amazon from 1911-2024. What is happening now? I can go on and on, but my retort to all misconceptions I am presented with is “let’s look at what the powers that be are doing.” Why are central banks stockpiling gold? Why are institutional investors buying up silver at record rates? I find it prudent strategy to follow the smartest and most powerful institutions existing in the economic system and mimic what they are doing, and they are buying precious metals.
8. Thor Metals Group aims to disrupt the traditional precious metals market. Can you describe a moment or achievement with your company that you are particularly proud of?
I have hired two clients to work for me. I am immensely proud of this, as not only did they appreciate how they were treated by me as a broker, but they see my vision and want to be a part of it. There is nothing more gratifying in an industry focused on quick profits and duplicitous behavior than having actual clients pursue a career at your firm because they believe in what you are doing and why you are doing it.
9. Looking forward, what are your aspirations for Thor Metals Group over the next decade, and how do you plan to continue impacting the industry?
My aspirations are to pull the curtain back on precious metals as not only an investment but as a currency and store of wealth. It has been steeped in secrecy solely because the powers that be want it for themselves. However, gold and silver have always been an eternal measuring stick of value and will continue to be that in the years and decades to come. I would like this fact to be well known and education about this asset readily accessible. This first requires cleaning up the industry and ending the exploitative practices that have given precious metals dealers and brokers’ reputations a black eye and mandating that the industry strive to be transparent, honest, and educational. Let people make their own decisions based on good, correct information. I always say we are not in the business of changing people’s minds about gold and silver, but rather taking someone who instinctively believes in the asset but does not know enough about it to act on it and arm them with the education necessary to make a decision they can be confident in and one that provides a high level of comfort.
10. As a leader and entrepreneur, balancing personal life and the demands of a growing business can be challenging. What practices or routines have you found essential for maintaining this balance?
I do not know if I am the right person to ask this question. Having been a former athlete and still very active working out around 5-6 times a week, I nonetheless developed edema in both my feet from sitting at a desk for 19 hours a day. This business and what it represented was so important to me that it trumped the usual physical exercise, sleep, and self-care which are so important. That being said, I think I am the last person to preach life balance. However, at the preliminary stages of any aspirational business, mainly a business with aspirations of industry-disrupting success, you simply cannot have much balance. You need to be singularly focused and eat, drink, sleep, and breathe the business.
As I evolved and grew as a person in tandem with my business growing, I resolved to make an internal pact with myself that when I get to certain milestones or levels, I would start seeking balance and ultimately prioritize it over the business at some point. Even when you are working these 19-hour days or are singularly focused on nothing but growing your business, if you exercise, eat healthy, sleep, and practice some sort of self-care, be it meditation or reading or playing an instrument (I play the piano), you will at least not be at as much risk of burning out.
11. Throughout your entrepreneurial journey, have there been moments where you felt you had to compromise on your personal values? How did you handle these situations?
Yes, I did, and I managed those moments by leaning on those around me. It is incredibly important to hire well in a startup so that you have people who share your vision but also your morals. If you have a weak moment, they are there to slap you, if that’s what is necessary, back into balance with the mission and purpose of the company and the corresponding DNA required to achieve that mission and purpose.
12. If you could offer a piece of advice to your younger self at the start of your career journey, what would it be?
Do not throw dirt in a bear’s eye, stay in your lane! If you have an innovative idea and things are starting off well for you, SHUT YOUR %^(^% MOUTH about it. There are companies exponentially more powerful and with exponentially deeper war chests who can ruin you at that very fragile time for your company. Be humble, put your head down, and do not look up for an exceptionally long time.
13. For readers interested in learning more about Thor Metals Group and your insights into precious metals investing, where can they find more information about you and your company?
You can find more information about myself and my company on our website www.thormetalsgroup.com. You can also look me up on LinkedIn for a full rundown of my education and career; my profile is under Brandon Thor. Or, feel free to call us at 1-866-944-THOR. You can even ask for me by name as I still field my own calls and would love to talk to any reader about either investing in precious metals or learning more about my journey!
Our conversation with Brandon Thor clearly shows his journey as a testament to the power of passion, resilience, and continuous learning. From his humble beginnings with childhood ventures to his current success in the precious metals industry, Brandon’s story is filled with valuable lessons and insights for all aspiring entrepreneurs. We hope you enjoyed this deep dive into his entrepreneurial path and feel inspired by his experiences. Stay tuned to The Grey Journal for more stories of innovation, determination, and success in the world of business.
