Thank you for your patience in waiting for my message. As promised I am writing today to follow up regarding Vanguard Admiral shares.
I was able to reach out to our Non Fidelity Funds Order Room and confirm that if you purchase Investor Shares of Vanguard funds that have Admiral Share equivalents and meet or exceed the minimum required for Admiral Shares, you may request your Investor Shares be converted to Admiral Shares. To make this request you will just need to contact us after you have purchased the Investor Class Shares. We will then submit a request to the fund family, and it will take 5 to 7 business days for your shares to be converted.
No one at either Vanguard or Fidelity was able to tell me why this is so complicated, only that some institutions can't directly buy into Admiral shares.
I can accept that, I just think the process seems like a waste of time and energy.
Does anyone have more specific info on this? Already considering moving to Vanguard, so thanks in advance for that suggestion.