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At Merrill JQUA does not permit dividend and cg reinvestment. I called Merrill and they had no ideas about why, implying it was the ETF's doing. Anyone have any thoughts / info about this ?
I know at VG you can't set up reinvestment (greyed out) until after the settlement date if it's been a recent buy and it's a new holding. There are some exceptions.... if everything in your account was already set to auto reinvest etc... Just one possibility.
At Vanguard, reinvestment isn't available for some ETFs. I suspect that it may have to do with liquidity as VG reinvestment program is VG (broker)-sponsored. VG accumulates all reinvestment orders and executes a market order soon after the payout date.
For fund-sponsored reinvestment program, the fund and firm would need to have some agreement/contract. This reinvestment may be quicker and there may also be some discount.
JQUA seems large and liquid that has been around for a while. Does ML/BoA offer reinvestment programs for other JPM ETFs?
YBB, I have not checked other JPM etfs, but that's a good idea. I am just so flabbergasted at this from ML that (as so often happens) I look (again) for costless ways to leave them and move more to Fido. (Costless meaning giving up benefits and so on.)
Comments
For fund-sponsored reinvestment program, the fund and firm would need to have some agreement/contract. This reinvestment may be quicker and there may also be some discount.
JQUA seems large and liquid that has been around for a while. Does ML/BoA offer reinvestment programs for other JPM ETFs?
YBB, I have not checked other JPM etfs, but that's a good idea. I am just so flabbergasted at this from ML that (as so often happens) I look (again) for costless ways to leave them and move more to Fido. (Costless meaning giving up benefits and so on.)