Yesterday I requested that Vanguard transition both my taxable account and my IRA accounts from the traditional Mutual fund platform to the Brokerage platform. I had been delaying this for several months out of concern that it might create some issues. But it seems to have gone quite smoothly, and today all the exact holdings that I had previously are now in the two brokerage accounts.
However, I have a couple of questions:
It was my understanding that each brokerage account would have a settlement fund for buying and selling and that the Federal Money Market fund would be used. After the transition, my taxable account still has the Cash Reserve MM as before and my IRA account has no money market fund like before. Neither has Federal MM.
I thought that I would need the settlement fund to do any movement of assets in or out of my accounts. However, after transition my scheduled monthly IRA RMD still shows a direct transfer from a bond fund to my bank - just like before. And I did part of a trial transaction "exchanging" some $$ from one fund to another fund in my taxable account. This made no mention of needing to go through a settlement account.
So my question is: Will both of these kinds of transactions still happen without a settlement account?
I'm not complaining - at first glance the new accounts seem to be just as easy to use as they were before.
For what kinds of transactions will I actually need a settlement fund?
Thanks !
However, I have a couple of questions:
It was my understanding that each brokerage account would have a settlement fund for buying and selling and that the Federal Money Market fund would be used. After the transition, my taxable account still has the Cash Reserve MM as before and my IRA account has no money market fund like before. Neither has Federal MM.
I thought that I would need the settlement fund to do any movement of assets in or out of my accounts. However, after transition my scheduled monthly IRA RMD still shows a direct transfer from a bond fund to my bank - just like before. And I did part of a trial transaction "exchanging" some $$ from one fund to another fund in my taxable account. This made no mention of needing to go through a settlement account.
So my question is: Will both of these kinds of transactions still happen without a settlement account?
I'm not complaining - at first glance the new accounts seem to be just as easy to use as they were before.
For what kinds of transactions will I actually need a settlement fund?
Thanks !
Statistics: Posted by colodane — Tue Aug 20, 2024 11:00 am — Replies 2 — Views 116