Move from Spartan Investor to Advantage class

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corn18
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Joined: Fri May 22, 2015 6:24 am

Move from Spartan Investor to Advantage class

Post by corn18 »

I bought SPTN INTER TREAS BND INVESTOR CLASS (FIBIX) and now want to add to the fund and that will put me over $10k so I want to switch over to FIBAX (Advantage Class) because it has a lower ER. I buy the funds through USAA, so not directly from Fidelity. I assume I have to sell the FIBIX and then rebuy FIBAX? Thanks, Tom
Consistently sets low goals and fails to achieve them.
Veni Vidi Decessi
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Joined: Tue Jul 09, 2013 9:09 am

Re: Move from Spartan Investor to Advantage class

Post by Veni Vidi Decessi »

Being a new investor myself, I recently went through this same situation. If you exceed the $10k threshold for the transition from Investor to Advantage, Fidelity will automatically convert your shares in the index from one to the other. However, this "automatic" conversion is not a computer - automated conversion. They hold a meeting once a month or so to decided which ones will be converted over.

For me, I think the conversion automatically took place a month or two after I hit $10k. My advice: sit tight, be patient, and don't worry about it! :sharebeer
niceguy7376
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Re: Move from Spartan Investor to Advantage class

Post by niceguy7376 »

Since OP doesnt have an account at Fido but at USAA, i dont know how it happens in that instance. If you have account at Fido, you can do it or let them do it on their own schedule.

At USAA, do you need to pay for every transaction?
jfave33
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Re: Move from Spartan Investor to Advantage class

Post by jfave33 »

Does USAA let you hold the advantage class shares? Best contacting them about how to do it.
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corn18
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Re: Move from Spartan Investor to Advantage class

Post by corn18 »

niceguy7376 wrote:Since OP doesnt have an account at Fido but at USAA, i dont know how it happens in that instance. If you have account at Fido, you can do it or let them do it on their own schedule.

At USAA, do you need to pay for every transaction?
USAA does not charge for Fido fund transactions, which is nice.
jjface wrote:Does USAA let you hold the advantage class shares? Best contacting them about how to do it.
Yes, they do. I will call them and ask what to do.
Consistently sets low goals and fails to achieve them.
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