Snag!
July 18th, 2007 by Grant in: Investing, Stock ThoughtsI finally pulled the trigger on RYPQX, and ended up with a small snag…
Initially, TD Ameritrade told me via e-mail that there is no minimum investment and no holding period for the fund. So I logged in to my Roth IRA account and decided I’d buy a small chunk ($200.00 worth) just to see how the process goes, since I have never bought a mutual fund before.
I click through the screens, and eventually, on the last page, I’m given an error! “Your request does not meet the minimum investment amount…”. Huh?
So I fire off a quick and stern one to TD Ameritrade asking what gives. The response:
“I apologize for the misunderstanding. There is a minimum initial investment requirement for RYPQX of $1,000.00 in an IRA, however no minimum required in a non-IRA.”
So much for “no minimum”, but a $1,000 minimum for an IRA account isn’t bad. I’ll take a bigger chunk tomorrow…
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July 18th, 2007 at 11:35 pm
Don’t you hate it when you get the wrong information from the CSR?
Anyway, I hope you are keeping your emails about the minimum holding period because one day when you sell, you might be hit with a short-term redemption fee.