I pulled my entire Roth. I encourage others to do the same. The best way to vote in a financial market is with your feet or dollars.
Although TD’s boneheaded move instigated it, I’ve been wanting to consolidate my accounts for a while but since there wasn’t really anything wrong with their platform, I didn’t bother.
Now their platform has something wrong with it. I have to keep my other account with them which is invested in Vanguard funds. I weighed exchanging their crappy new lineup for my low cost VG ETFs but decided against it. I’d rather just pay the commission to liquidate if I have to keep my funds there. There is no cost unless liquidating at this point.
It is true that it would be cleaner to exchange VG funds for their new lineup, in terms of future assets. Using their new funds with VG funds doubles the holdings, but hey, I’m not planning on doing anything with my triple tax free account for a long time. I’ll eat the commission when it comes due.
God only knows what new boneheaded plan they’ll have in place when I need to liquidate my HSA holdings.
Dear Valued Client,
Last week, you received an email about the upcoming launch of our new commission-free ETF Market Center. Since then, we’ve learned investors could use more time to evaluate the new fund line-up. So we’re extending the effective date to January 19, 2018, giving you 90 days to review the funds and make any changes.
The restructured commission-free platform triples the number of ETF choices to 296 – the most in the industry – including many that are among the lowest-cost core ETFs available in the market today. We’ve also increased exposure to 77 Morningstar categories, including such strategies as smart beta, actively managed, market sectors and commodities providing more options for you to tailor your portfolio. We appreciate that this is a big change and we want to make sure you have the time and information you need.
We have extended the commission-free transition period for legacy ETFs until January 19, 2018.
All new funds are available to trade commission-free today.
After January 19, 2018, the 84 legacy funds will still be available at TD Ameritrade at the standard online commission rate. The remaining 16 funds will continue to be a part of the enhanced ETF Market Center.
All other previously communicated changes remain in place. Enrollment and short-term redemption fees will be eliminated effective November 20, 2017. Selling legacy ETFs prior to November 20,2017 may incur a short-term redemption fee.