However, there was caveat, which is the minimum initial investment amount is $100,000. This is on Schwab's website.
https://www.schwab.wallst.com/Prospect/Research/mutualfunds/summary.asp?symbol=ARTKX
Perhaps that page was just changed, but it now reads $1K min. Worth pointing this out to Schwab if they still balk at opening the account for less than $100K.
However, as you stated, APDKX is also available (albeit with a transaction fee), so I'd be inclined to go in that direction. You've already got Schwab agreeing that you can open a new account in Artisan International Value, so at this point it's just a quibble over the share class.
You might also look into converting the Roth shares to APDKX. A straight conversion might even help avoid the transaction fee. I haven't done this at Schwab, but I've tried conversions at Fidelity with mixed results:
- I had an unusual share class of one fund. When the "A" shares were given NTF status (load-waived, no fee), I asked to convert my shares to A shares to shave a few basis points off the ER. Fidelity was willing but said that the fund company had to allow it, and they wouldn't. (This was in a taxable account, so I wasn't going to sell at a gain to repurchase on my own.)
- I had retail shares of closed fund. The fund prospectus said that any owner of that fund could open another account in the same fund. So when I had enough to qualify for the institutional share class, I asked Fidelity to convert the shares. Here too, the fund company balked at the idea of opening a new account, regardless of what the prospectus said. The fund company finally agreed once it realized that I was just converting an existing account. But that shouldn't have mattered.
Lesson learned: one may be right about the rules, but one still needs to get the fund company to cooperate. If you can't do a straight conversion in the Roth, you could look at buying $1K of APDKX (to establish the Roth account), then selling all ARTKX shares and buying more APDKX shares. You'll get charged a transaction fee but you'll have cheaper shares for the long run.
Finally, if all else fails and Artisan won't let Schwab open APDKX accounts, you could try opening the accounts directly at Artisan and then transferring them in-kind to Schwab. However, at Artisan, APDKX has a $250K min (see prospectus), so you might have to do some maneuvering to temporarily boost your account (and then sell off some shares when the account is moved to Schwab).

Thank you to everyone for their input, and especially @briboe69 to verify what we thought we needed to do.
We have started the process, as per the paperwork received. I will update this thread as everything progresses in the future.
One last 'complaint' about our wonderful world of all things online. We've had a 'home' online presence since 1997; and have fully enjoyed the experience. My 'work' career had me involved with technology for more than 40 years; and many more years of keeping 'up' with everything involved with technology at home.
While I understand the ongoing attacks and system breaches of data centers of all sorts; I keep my fingers crossed that all organizations are spending the money needed to hire the folks they need to attempt to stay ahead of the hackers.
We keep all of our home systems up to date and use VPN for online; and anti virus programs. The only periodic downside for VPN is that it has to be disabled for access to some online accounts. A small bother to deal with for some protection.

Expansion of SSI (Supplemental Security Income) Benefits for low income households will be effective 9/30/24. SSI eligibility (65+ or disabled) will be easier, some government benefit payments won't be counted, and reporting requirements will be fewer. There are no work requirements for SSI as there are for SSDI.
https://www.cnbc.com/2024/05/10/how-social-security-administration-will-expand-access-to-ssi-benefits.html
https://www.ssa.gov/ssi
https://www.ssa.gov/pubs/EN-05-11000.pdf
https://www.ssa.gov/benefits

The CD in the TOD account could be covered for even more if you've got multiple beneficiaries on the account. As I described above, that CD gets $250K coverage for each beneficiary, up to a max of 5 ($1.25M). That's in addition to the $250K for the IRA as yogi described.
Here's the relevant section from Fidelity's CD Disclosure Statement:

Trust Accounts. Effective April 1, 2024, deposits ... are insured for up to $250,000 per eligible beneficiary, multiplied by the number of beneficiaries, up to a maximum of 5 eligible beneficiaries:

• Informal revocable trusts .... These trusts may be referred to as a “Totten trust” account, “payable upon death” account, or “transfer on death” account. ...

https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/fixed-income/cddisclosure.pdf

You can have brokered CD from a bank, and then at bank itself, you can have personal a/c, joint a/c, IRA a/c, multiple POD/TOD CDs. Under the current system, all that can add up to a lot at the same bank. But the new FDIC limit will be $1.25 million for all assets associated with a person.

Sorry, yogi, to bother you again, but I am having a bit of a problem finding five highly rated national banks at my brokerage for my five $250K CDs with FDIC insurance.
Reading your above statement, it seems that if I opened a $250K CD in my TOD brokerage account, and another 250K CD in my brokerage IRA account, they would both be FDIC insured even though they are purchased from the same bank.
Am I reading/understanding this correctly?
Thanks, again, for your help. Much appreciated.

Hi @hank and @MikeM and et al
LCR vs LCORX

135 day chart

This short term time frame is from October 26, 2023; when both many U.S. equity and bond sectors began to advance from a sleepy period.
This chart is fully 'live' for your future use. At the very top one may enter whatever valid ticker(s). Separate multiple tickers with a 'comma'. Do the 'enter' key thing. Now, at the page bottom one will see 200 days (which is default). Double click this number (it will highlight), then type in 135 days, do the 'enter' key again, to load the chart back to October 26, 2023. This number will have to be adjusted as the calendar moves forward, but is valid for use as of May 10, 2024. At the bottom left is also a 'red/green' icon. Select this for a bar chart and more easily readable 'total' returns. One may switch back to the link graph when 'selecting' the graphic icon.
NOTE: at the days icon, one may right click for a default drop down list of time frames. ALSO at the days area, one may double click the number there and enter any number of days to move backwards in 'calendar' start dates of your choice.
I think I have all of the easy steps in place. Let me know, otherwise.
Save this 'StockCharts' site page, for future use, in your favorites list.
Remain curious,
Catch

The Week in Charts (05/05/24)
The most important charts and themes in markets, including...
00:00 Intro
00:24 Topics
01:15 Labor Market Cooling
04:18 Bad News Is Good News?
07:31 Will the Unwind Ever Happen?
09:20 The Next Fed Move
13:04 Manufacturing/Services Slowdown
14:20 The Undisputed King of Buybacks
16:31 The Amazon Economy
20:09 Higher Multiples
22:05 New Housing Highs
23:30 A Renter's Market
Video

Doug Ramsey, LCORX portfolio manager, is cited today (but not quoted directly) as part of a daily market recap by Bloomberg Media. (subscription required)
“To Doug Ramsey at Leuthold, another 10% gain in the S&P 500 isn't out of the question, at least statistically. He analyzed 80 years of data on bull-market rallies, focusing on those that happened when unemployment was this low and the economic cycle this mature. If the current rally meets the prior records for length and height, the S&P 500 would end the year at 5,705.”
Sounds somewhat at odds with Leuthold’s take on the markets six months ago as capsulized by @David_Snowball in his November 2023 MFO Commentary :
”Leuthold: the lights have all turned red, time to lighten up on stocks“
Possibly Mr. Ramsey feels the lights have now turned from red to orange (proceed with caution)?
Or perhaps his reference is meant merely to reflect the irrationality of today’s market participants?
Or, more likely, Ramsey’s assessment may be intended only to characterize near term market sentiment and does not represent some fundamental change in Leuthold's longer term outlook.
Interesting nonetheless …

The FDIC coverage is for all personal assets held at a bank with the new max $1.25 million considering various tricks.
That's the bank limit for all trusts only. Each ownership category still gets its own $250K per owner, except trust coverage is calculated per owner per beneficiary. (A trust with two owners and 5 beneficiaries gets coverage of $250K x $2 owners x 5 beneficiaries = $2.5M.)
A POD account is considered a trust account and an IRA is considered a "certain retirement account" - two different ownership categories. So the former is covered up to $250K/beneficiary and the latter gets its own $250K limit.
The rule change is that the coverage on trust accounts is limited to $250K/beneficiary per trust owner, but now only up to 5 beneficiaries, i.e. up to $1.25M if you name five or more beneficiaries. It used to be that if you named six beneficiaries, you'd get 6 x $250K = $1.5M coverage.
(There is a second rule change that combines revocable trusts and irrevocable trusts into a single ownership category.)
So if you have
- $1.8M in a POD with 6 beneficiaries and
- $300K in an IRA (retirement account) at the same bank
you used to get $1.5M coverage for the POD (6 x $250K) and $250K coverage for the IRA.
Now, you get $1.25M coverage for the POD and $250K coverage for the IRA. The remaining $550K in the POD and the remaining $50K in the IRA are uninsured.
You can check this with the FDIC calculator. https://edie.fdic.gov/calculator.html
For a complete description, see:
https://www.fdic.gov/resources/deposit-insurance/brochures/insured-deposits/index.html

@fred495 - to reinforce yogi, the trick here is to buy brokered CDs through your brokerage, and spread them around through different banks. Maybe 50k here, 50k there.

However, my plan is to buy five CDs through my brokerage firm in my TOD and in my IRA accounts at $250K each, for a maximum of $1.25 million. Of course, I will spread the CDs around at five different banks.
Do see a problem with that in terms of being fully covered by FDIC insurance?

You can have brokered CD from a bank, and then at bank itself, you can have personal a/c, joint a/c, IRA a/c, multiple POD/TOD CDs. Under the current system, all that can add up to a lot at the same bank. But the new FDIC limit will be $1.25 million for all assets associated with a person.
Since you are planning to buy brokered CDs from DIFFERENT banks, you are well covered just by the $250K FDIC limit per bank.
As I read your OP, you shouldn't be concerned. But don't fish for bad banks thinking that FDIC will protect you. In a way, it will if the bank fails, but your CDs may be reissued at lower rates.

The FDIC coverage is for all personal assets held at a bank with the new max $1.25 million considering various tricks. The FDIC coverage kicks in when the bank fails.
For cash and securities held at brokerage, the SIPC insurance limits would apply. The SIPC kicks in when the brokerage fails.

Thanks for your reply, yogi.
However, I am confused when you say that: "The FDIC coverage is for all personal assets held at a bank with the new max $1.25 million considering various tricks."
Based on my example, which "various tricks" are you referring to? How should I modify my plan to avoid using any "tricks"?
Thanks.

The FDIC coverage is for all personal assets held at a bank with the new max $1.25 million considering various tricks. The FDIC coverage kicks in when the bank fails.
For cash and securities held at brokerage, the SIPC insurance limits would apply. The SIPC kicks in when the brokerage fails.

Here is, I am sure, a stupid question, but I need some reassurance.
I have a TOD and an IRA account at a brokerage firm. Before CD rates decrease, I plan to purchase several CDs in both accounts from different banks.
Does the FDIC insurance maximum of $250,000 apply to the CD's of each bank, or to the TOD and/or IRA brokerage account?
In other words, can I have, for example, three CDs of $250,000 each in three different banks in my IRA brokerage account, and two CD's in my TOD account also of $250,000 each in other non-overlapping banks, and be fully FDIC insured for a total of $1,250,000?
Your reply is much appreciated.

Thanks @hank. Amazingly, the statistics for these 2 funds are so close over the past 4 years (shown below from portfolio visualizer). You wouldn't know one invested in stocks and the other in ETFs. I hold LCR now, just because it's easier to buy ETFs on dips. At least in my mind. I intend to work the fund up to 5% of my portfolio. Once I do, I may convert to LCORX, or not. Based on the numbers it probably doesn't matter much.
ticker CAGR STD bestY worstY Sharpe Sortino
LCORX 7.34% 10.64% 15.2% -6.8% 0.52 0.78
LCR 7.23% 10.57% 13.8% -7.6% 0.51 0.79

LCR holds 4.07% in Direxion Daily S&P 500 Bear 1x Shares.

We are having a problem and would appreciate some thoughts on how best to try to resolve it.
My partner spoke directly with Artisan Partners and I qualify to open a new account and purchase Artisan International Value in my Traditional IRA, so long as my Roth IRA and Traditional IRA are in my name (which they are).
My Artisan funds are at Schwab. We also spoke with them and the Schwab rep called back this morning and said that they cleared the purchase of ARTKX. However, there was caveat, which is the minimum initial investment amount is $100,000. This is on Schwab's website.
https://www.schwab.wallst.com/Prospect/Research/mutualfunds/summary.asp?symbol=ARTKX
We know that Artisan International is a closed fund and thus it says "Available to Existing Shareholders". But, I now qualify to open the fund in another account. It also says that the initial minimum investment in an IRA account is $1,000, not $100,000. I understand from my partner that he showed this to the Schwab rep and he is going to take this link back to "his people".
On the related, we see that the initial minimum investment in an IRA account for APDKX (Adviser Class) is also $1,000, so we would want to open and purchase this share class in my Traditional IRA and save the 12 basis points on the expense ratio.
https://www.schwab.com/research/mutual-funds/quotes/summary/apdkx
The rep is off tomorrow and we expect to hear back from Schwab on Monday. If they now say $1,000 minimum, there is no problem. What are your suggestions if Schwab comes back and sticks with $100,000 initial minimum?

Looks like LCR (etf) doesn’t currently have any short equity positions, while LCORX has well north of 10% in short holdings. Overall equity exposure (when LCORX’s shorts are taken consideration) is similar. Both good funds. LCR is cheaper. Just wondering if I understand this right. Has LCR held shorts in the past?

Is it working for you? When did you switch?
If it was on Dec 29 (Dec 30, 31 was a weekend), then yes, it is working for you.
If it was 6 months ago, then you're behind, +7.33% vs. 10.67%.
If it was 3 months ago, then you're behind, +1.13% vs. +2.27%.
If it was 2 months ago, then you're behind, -0.58% vs. +1.17%.
If it was 1 month ago, then you're behind, -0.58% vs. +0.03%.
1 month, 2 month, 3 month, 6 month data from M* chart comparisons as of 5/8/24 close. You wrote about switching two months ago, here and here.
IMHO it is silly to look at such short time frames. Also with just a 7 basis point "win" YTD, WBALX could easily drop behind in a single day. Talk about short term!
Not intending to burst your bubble, just suggesting that switches don't prove themselves out one way or the other with short term performance unless you are a frenetic trader. Give it time.

AAII Sentiment Survey, 5/8/24
BULLISH remained the top sentiment (40.8%, above average) & bearish became the bottom sentiment (23.8%, below average); neutral became the middle sentiment (35.4%, above average); Bull-Bear Spread was +17.0% (above average). Investor concerns: Elections, budget, inflation, economy, the Fed, dollar, Russia-Ukraine (115+ weeks), Israel-Hamas (30+ weeks), geopolitical. For the Survey week (Th-Wed), stocks up, bonds up, oil up, gold flat, dollar down. Major indexes rose above 50-dMA. Poor seasonality May 1 - Oct 30. #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/post/1466/thread