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- Joined
- Jun 25, 2005
- Messages
- 10,252
It has been reported and I have found true that the "upgrade" will mess up one's instructions on what to do with automatically reinvesting distributions.
I think the upgrade resets things to the "account default" whatever that was for you. If you had different funds to do different things from the "account default", then you may be in a for a surprise.
So double check after you upgrade what the settings are for each and every one of your investments in the new account structure. I certainly had to reset mine back to what I wanted and had previously.
For me, I had brokerage accounts at Vanguard for ETFs, but my default was not to reinvest any ETF distributions back into the ETFs. When my mutual funds got "upgraded" and placed in the existing brokerage accounts, they lost my choice to have distributions automatically reinvested, so I had to reset those. Perhaps this would not be a problem for folks with no previously existing brokerage account.
I think the upgrade resets things to the "account default" whatever that was for you. If you had different funds to do different things from the "account default", then you may be in a for a surprise.
So double check after you upgrade what the settings are for each and every one of your investments in the new account structure. I certainly had to reset mine back to what I wanted and had previously.
For me, I had brokerage accounts at Vanguard for ETFs, but my default was not to reinvest any ETF distributions back into the ETFs. When my mutual funds got "upgraded" and placed in the existing brokerage accounts, they lost my choice to have distributions automatically reinvested, so I had to reset those. Perhaps this would not be a problem for folks with no previously existing brokerage account.
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