Trade Execution for Mutual Funds

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Trade Execution for Mutual Funds

Post by CryingHawaiian » Thu Mar 26, 2020 11:16 am

On 3/24 after market close I decided to re-shift some things around with some mutual funds I had at Schwab. I submitted a series of sell and buy orders where I sold off 5 mutual funds while repurchasing two generic total market US equity and international equity funds.

After market close yesterday, 3/25 Schwab showed that the first half of my trade orders went through (the sell orders) but the buy orders are still listed as open.

Did I just learn a hard lesson in market timing or could it be a delay in Schwab's interface updating? I thought the benefit of trading mutual funds was that your trades execute all at once so you're not left out of the market.

You get what you get and you don’t get upset

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Re: Trade Execution for Mutual Funds

Post by livesoft » Thu Mar 26, 2020 11:21 am

You may have learned the difference between "sell, then buy" and "exchange." In general, "exchange" can only be done with mutual funds within the same fund family as in "Vanguard -> Vanguard", "Fidelity -> Fidelity", "Schwab -> Schwab."

I read here that Schwab has fantastic customer service, so what not check with them?
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Silk McCue
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Re: Trade Execution for Mutual Funds

Post by Silk McCue » Thu Mar 26, 2020 11:23 am

You need to have already called Schwab to discuss why the buy order did not go through. They are the only ones that can help you.


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Re: Trade Execution for Mutual Funds

Post by jpmorganfunds » Thu Mar 26, 2020 11:40 am

Sell then buy takes 2 full days. If you want same day exchange go with ETFs.

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