USAA was sold in 2 parts.
USAA mutual funds, etc were sold to Victory Capital/VCTR. Victory even moved its HQ from Cleveland, OH to San Antonio, TX (the old USAA facilities).
USAA Brokerages, wealth management, etc were sold to Schwab/SCHW for $1.6 billion (it was reduced from $1.8 billion during the pandemic) and the AUM involved was about $80 billion.
USAA is now focusing on its services to military families and and veterans.

@hank
Over the last few years I have been bought by Schwab twice… and counting. I was sold by USAA to Schwab 3 years ago. Instead, I moved to TD. Recently sold again.
In a world where big (Schwab) eat little (USAA), I should appreciate the added value these efficiencies create. I was as unhappy with USAA, maybe more so. At USAA, the $1.6B (corrected) (what Schwab paid) went to improve shareholder experience at USAA. Hmm, I have heard that one before.
Now, this time, big (Schwab) eats big (TD). Not sure who benefited from these sale proceeds, but it wasn’t me. I was the product.
Being a Fidelity customer may have its own drawbacks, but it appears I am a bigger risk to them… being sold.

S&P/SPGI scale is AAA, AA+,... etc; within AA, there are AA+, AA, AA-. It downgraded the US from AAA to AA+ in 2011. Moreover, ALL US financials were also downgraded then with the logic that no US financial can have better rating than the US. So, only 2 US companies with AAA ratings are JNJ and MSFT.
Fitch scale is AAA, AA+, etc and it's is similar to S&P. The US is AAA and It put the US debt on negative watch.
Moody's/MCO scale is Aaa, Aa1, etc; within Aa, there are Aa1, Aa2, Aa3. The US is Aaa. Note that Warren Buffett/BRK owns a big chunk of Moody's (13.44%).
https://www.moneyland.ch/en/rating-agencies
https://en.wikipedia.org/wiki/Bond_credit_rating

What will be the rating if we do default?

“Although Wood holds Nvidia across several of her smaller funds, investors in the flagship ARK Innovation ETF (ticker ARKK) have mostly been left out of this year’s blistering 159.90% rally.”
OOPS!
Story Here

Vanguard Health Care had an annualized 16.4% return during Ed Owens'
long tenure (05/23/1984 - 12/31/2012) compared to the the S&P 500 index's 10.7% return.
This fund has not performed as well since Jean Hynes became the sole named manager in 2013.
Note: Today it was announced that longtime analyst Rebecca Sykes
was promoted to comanager on Vanguard Health Care.

[snip]
Also, I would not leave a dime in any Wells Fargo accounts. That bank has a poor history, and I'm not convinced that the culture there has changed. If a bank is opening accounts that customers didn't approve, you don't deal with that bank.

+1
"Wells Fargo has been sanctioned repeatedly by U.S. regulators for violations of consumer protection laws going back to 2016, when employees were found to have opened millions of accounts illegally in order to meet unrealistic sales goals. Since then, executives have repeatedly said Wells is cleaning up its act, only for the bank to be found in violation of other parts of consumer protection law, including in its auto and mortgage lending businesses."
"While Wells Fargo tried to frame the agreement with the CFPB as a resolution of established bad behavior, CFPB officials said some of the violations cited in Tuesday’s order took place this year."
Link

@davidrmoran,
I offered this for discussion back in 2020 from the poor swiss website:
updated-trinity-study-for-2020-more-withdrawal-rates/p1
Nice to see further updates. Thanks.

thanks for reminder; I did do a site search, so as not to take novel credit unduly :)

ICI Fact Book, 2023
The new 2023 ICI Factbook is now available. Both the full PDF (long) & separate chapter PDFs are available; downloadable Excel files for each chapter are also available. Topics covered include funds – OEFs, ETFs, CEFs; TDFs, 529s, 401k/403b, IRAs, fund history & regulation.
Fact Book Website www.icifactbook.org/

I would have kept our TRP account except they wouldn’t let me invest in PRWCX even though I had been a customer more than 30 years, so I moved those accounts to Fidelity and haven’t looked back.

+1
That firm (TRP) is almost unrecognizable from what it was in the 90s. And not all for the better.

Just a follow up note on Charles Schwab banks issuing CDs. On the Schwab Brokerage site today, Charles Schwab Bank, located in Westlake Texas, is offering an 18 month CD with an interest rate of 5.05%. It has an overall B rating, with 2 subcategories with F ratings. It appears that some of the posters on this thread is recommending ignoring that Banks Health Rating Status. Maybe they are right, but I will not invest in any Bank CD offering with that poor of a health rating--there are too many other Banks with better health ratings than this Schwab Bank.

As of 3/22/23 for TCAF:
https://www.sec.gov/Archives/edgar/data/1795351/000174177323000929/c497k.htm

+1 to @MrRuffles and to @LewisBraham

The article is from our own @LewisBraham.
One other way of getting into a closed fund at TRP is by rolling over funds from a 401(k) to a TRP retirement account. I did this and bought a small position in PRWCX which I rolled it over to an existing IRA at another broker. That allowed me to buy more shares in the existing account.

https://www.sec.gov/Archives/edgar/data/711322/000089418923003906/greenspringfundreorg497est.htm
97 1 greenspringfundreorg497est.htm 497
Greenspring Fund, Inc.
Supplement dated May 25, 2023 to the
Prospectus, Summary Prospectus and Statement of Additional Information (“SAI”)
dated May 1, 2023, as supplemented
At a meeting held on May 4, 2023, the Board of Directors of the Greenspring Fund, Inc. (the “Fund”) approved an Agreement and Plan of Reorganization (the “Plan of Reorganization”) with respect to the Fund. The Plan of Reorganization provides for the reorganization (the “Reorganization”) of the Fund into the Cromwell Greenspring Mid Cap Fund (the “New Fund”), a newly-created series of Total Fund Solution, a Delaware statutory trust. The Board of Trustees of Total Fund Solution approved the Plan of Reorganization on May 18, 2023.
A combined proxy statement/prospectus (the “Proxy Statement”) seeking Fund shareholder approval for the Reorganization and containing more information regarding the Reorganization will be filed with the Securities and Exchange Commission. Additionally, a notice of a special meeting of shareholders and the Proxy Statement will be sent to Fund shareholders in the near future. The special meeting of shareholders is expected to occur on or about July 24, 2023 at which shareholders of record as of June 16, 2023 will be asked to vote on the proposal to approve the Reorganization. If the Plan of Reorganization is approved by Fund shareholders, shareholders of the Fund will receive Institutional Class shares of the New Fund having the same aggregate net asset value as the shares of the Fund they hold on the date of the Reorganization. The Reorganization will not affect the value of your account in the Fund at the time of the Reorganization. The Reorganization is expected to be treated as a tax-free reorganization for federal income tax purposes. The New Fund's management fee and operating expense ratio will remain the same as the Fund. However, Corbyn Investment Management, Inc. (“Corbyn”), the Fund’s current investment adviser, believes that the operational efficiencies anticipated as a result of the Reorganization may lead to a decrease in the New Fund’s operating expense ratio over time.
Prior to the Reorganization, which is expected to occur on or about July 28, 2023, Corbyn will continue to manage the Fund in the ordinary course. After the Reorganization, Cromwell Investment Advisors, LLC (“Cromwell”) will serve as investment adviser for the New Fund and Corbyn will serve as the investment sub-adviser for the New Fund. Charles vK. Carlson and Michael Goodman, the current portfolio managers for the Fund, will also be the portfolio managers of the New Fund and will continue to be responsible for the day-to-day management of the New Fund’s portfolio. The New Fund will have similar, but not identical, investment objectives and principal investment strategies as the Fund. Unlike the Fund, the New Fund does not have (1) a secondary investment objective of obtaining income, and (2) a principal investment strategy of investing in fixed income securities. A comparison of the investment objective, policies and strategies of the Fund and the New Fund will be provided in the Proxy Statement. Cromwell and Corbyn have agreed to assume all of the costs of the Reorganization.
Fund shareholders may purchase and redeem shares of the Fund in the ordinary course until the last business day before the closing of the Reorganization. Purchase and redemption requests received after that time will be treated as purchase and redemption requests for shares of the New Fund.
Please retain this Supplement for future reference.

At one time when working & doing my taxes, advisor fees could be itemized. Thus cutting drag. With 401-k I never paid much attention to drag when account was smart, but as the years went bye & account grew the pain became noticeable !!
Enjoy your weekend, Derf

Congress is on Memorial Recess now, but may be recalled on short notice. More precious days to the debt-ceiling deadline wasted.
Meanwhile, very short-term T-Bills yields are acting up, while the dollar is getting stronger. This may be getting complicated and messier.
https://stockcharts.com/h-sc/ui?s=UUP&p=D&b=5&g=0&id=p78212751137

Nothing ... NOTHING will ever get in the way of scheduled Congressional vacations away from DC -- er, "district work periods."

I can’t remember such a bifurcated market as in recent days. The S&P has been positive all day with the Dow running in reverse. The bigger news is the NASDAQ, up 250+ points or 1.6% today alone (at noon) and far outdistancing the Dow & S&P to date. Bloomberg’s talking heads (always a suspect source) are using the word “chasing” a lot today in trying to analyze recent investor behavior. I tend to agree. But, what’s new there?
The NASDAQ is benefiting from a double-digit rise in Nvidia, which reported strong earnings yesterday after the markets closed. Gold and precious metals continue to sink, with gold now below $1950. Miners (GDX) are off another 1.90% today after a 2.3% drubbing yesterday. Oil is also getting burnt today.
Recall that recent thread: “Gold is breaking out … “ ?

Congress is on Memorial Recess now, but may be recalled on short notice. More precious days to the debt-ceiling deadline wasted.
Meanwhile, very short-term T-Bills yields are acting up, while the dollar is getting stronger. This may be getting complicated and messier.
https://stockcharts.com/h-sc/ui?s=UUP&p=D&b=5&g=0&id=p78212751137

"In November 2021, T. Rowe launched its Summit Program, which allows any investor with more than $250,000 at the firm to buy top-performing closed funds like Capital Appreciation. Of course, many investors don’t have that kind of wealth and don’t necessarily want to tie up their assets with one money manager. In T. Rowe’s case, though, its brokerage offers funds from other families, stocks, and exchange-traded funds—and assets in them count toward Summit’s minimum."