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Brokerage firm won't allow me to add to my TRAIX (Institutional class of PRWCX)

Several years ago, my brokerage firm performed a "share class exchange" for me at no charge, through which I exchanged all of my shares of PRWCX into the institutional class TRAIX. Now, for the last year or two, this same brokerage firm says they cannot allow me to purchase new shares of TRAIX. So I'm frozen. I've called repeatedly, spoke to a "mutual fund trader," and have always gotten the same answer. I even asked to do another "share class exchange" to transfer some of the institutional class shares TRAIX into PRWCX but the answer I've consistently gotten is that "PRWCX is closed." The "mutual fund trader" stated that he contacted TR Price on my behalf but with no luck. This is frustrating. Does anyone have any ideas on how I can add to TRP Capital Appreciation fund (in either class)? This is a brokerage link account tied to a former employer's 401a plan.

Comments

  • Some fund companies will allow you to do a direct rollover into a closed fund even if you have to liquidate your employer-sponsored plan assets to do a rollover. (Having to liquidate for a rollover is not unusual.)

    Try calling TRP and asking if they will allow you to do a rollover into a closed fund that you currently own in your 401(a).

    When I closed my solo 401(k) held at TRP, I tried to get them to let me roll over into to a closed fund. At that time they did make exceptions for rollovers. But since I didn't hold shares in the closed fund in the 401(k), they wouldn't allow me to open a new position. In your situation where you already own the fund, they might.
  • @Jim0445,

    If it would help you when you speak with TRP,

    My employer 401(K) did not offer PRWCX but TRP allowed me to buy into PRWCX when I rolled over the 401(k) into a TRP IRA. Then I transferred PRWCX into non-TRP IRAs and added more.
  • @Jim0445,

    Same here, I was able to access closed funds doing rollover directly to TRP, they were very friendly, and it was easy to do as I already had accounts with them. 6 months later my 401k brokerage opened up an entire slew of closed finds. Alight did not require liquidation as I am still on that plan with current employer.
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