Admiral Shares

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geocache59
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Joined: Wed Dec 31, 2008 8:55 pm

Admiral Shares

Post by geocache59 »

Hi,

I had a message from Vanguard asking to convert to Admiral Shares. My understanding is less expenses. I don't think I understood it enough which is embarrassing. I want to withdraw 5K from my money market fund and it says I have no balance. Do I need to wait for the Admiral funds to convert over first?
UpperNwGuy
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Re: Admiral Shares

Post by UpperNwGuy »

Which fund is Vanguard suggesting you convert from investor shares to admiral shares?
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grabiner
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Re: Admiral Shares

Post by grabiner »

The money-market funds don't have Admiral shares.

Do you have some other fund which has just gone over the minimum ($50K for most non-index funds)? If so, you would have the option to convert, but only if the balance at the time of conversion is over the limit. For example, Vanguard might have notified you that a fund was eligible for conversion on Thursday, but then a decline on Friday took it back down to $49K.
Wiki David Grabiner
Flyer24
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Re: Admiral Shares

Post by Flyer24 »

Topic moved to Personal Investments.
000
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Re: Admiral Shares

Post by 000 »

grabiner wrote: Sat Nov 21, 2020 10:10 pm The money-market funds don't have Admiral shares.
https://investor.vanguard.com/mutual-fu ... file/VMRXX

OP, did you use to hold Prime Money Market which is now Cash Reserves?
Topic Author
geocache59
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Re: Admiral Shares

Post by geocache59 »

Thanks for your reply.

It looks like my money market account. It says in progress VMMXX Vanguard Cash Reserves Federal Money Market Fund which has almost 64K in it.

Underneath that, it says In progress VMRXX Vanguard Cash Reserves Federal Money Market Funds Admiral Shares for the same amount of 64K.

Since I did this, I can't withdraw any money from the account so I'm assuming I have to wait?

Yes, I had Prime Money Market Fund.
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CABob
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Re: Admiral Shares

Post by CABob »

000 wrote: Sat Nov 21, 2020 10:51 pm
grabiner wrote: Sat Nov 21, 2020 10:10 pm The money-market funds don't have Admiral shares.
https://investor.vanguard.com/mutual-fu ... file/VMRXX

OP, did you use to hold Prime Money Market which is now Cash Reserves?
I think that might be the case. I have (had?) Prime Money Market which is now Cash Reserves and am getting the notice that I should convert to Federal MM.
Bob
000
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Re: Admiral Shares

Post by 000 »

geocache59 wrote: Sat Nov 21, 2020 11:02 pm Thanks for your reply.

It looks like my money market account. It says in progress VMMXX Vanguard Cash Reserves Federal Money Market Fund which has almost 64K in it.

Underneath that, it says In progress VMRXX Vanguard Cash Reserves Federal Money Market Funds Admiral Shares for the same amount of 64K.

Since I did this, I can't withdraw any money from the account so I'm assuming I have to wait?

Yes, I had Prime Money Market Fund.
I guess you could try withdrawing from the new fund. Anyway I wouldn't expect this to take more than 2 business days.
Topic Author
geocache59
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Re: Admiral Shares

Post by geocache59 »

Once this is complete, I should be able to withdraw?
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Eagle33
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Re: Admiral Shares

Post by Eagle33 »

Per Vanguard webpage Changes to our taxable money market fund lineup
Vanguard Personal Advisor clients who own Investor Shares (VMMXX): We’ll convert your Investor Shares automatically to Admiral Shares during the next quarterly rebalance. Contact an advisor if you have questions about this transition.
Maybe it is their quarterly rebalance time?
Rocket science is not “rocket science” to a rocket scientist, just as personal finance is not “rocket science” to a Boglehead.
000
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Re: Admiral Shares

Post by 000 »

geocache59 wrote: Sat Nov 21, 2020 11:49 pm Once this is complete, I should be able to withdraw?
I don't see why not.
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Wiggums
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Re: Admiral Shares

Post by Wiggums »

geocache59 wrote: Sat Nov 21, 2020 11:49 pm Once this is complete, I should be able to withdraw?
Yes
Topic Author
geocache59
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Joined: Wed Dec 31, 2008 8:55 pm

Re: Admiral Shares

Post by geocache59 »

Thanks everyone! I will wait until next week and hopefully this will be resolved. I appreciate the time everyone took to answer me. I'll have to do my personal finances at a later date. Last I did it here was 2004.
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