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Hello all,

I hold shares of a certain mutual fund held in an IRA account with the fund company (Oakmark Funds).

I'm interested in selling some of these shares and purchasing some individual stocks. How would I go about doing this? I do have an IRA account with a discount broker...would I need to transfer some of the Oakmark shares to the broker and then sell from there?

Thanks!
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No. of Recommendations: 1
I hold shares of a certain mutual fund held in an IRA account with the fund company (Oakmark Funds).

I'm interested in selling some of these shares and purchasing some individual stocks. How would I go about doing this? I do have an IRA account with a discount broker...would I need to transfer some of the Oakmark shares to the broker and then sell from there?


I've done that and the answer is: it depends. The broker may or may not be able to transfer the fund intact. Probably, the simplest way is to sell the fund within the fund company and then transfer the cash and then buy what you want. I know that Schwab can work with you to get a rollover done and make sure you have no tax consequences. I'm sure other brokers can do the same. Talk to your broker. They will help you because they will be happy to get the business.

Dinkysue
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I'm interested in selling some of these shares and purchasing some individual stocks.

Excellent! Many brokers let you buy/sell mutual funds, but they usually limit it to a short list, probably because they need an arrangement with each fund co involved.

So, ask your broker if you can buy/sell Oakmark funds.

If yes, transfer the fund holdings you want to sell.

If no, do a sale and transfer the cash.

The former should be faster, but there's no way to tell for sure.
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