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Author: joelxwil Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76594  
Subject: Re: On-line Brokers Date: 7/6/2012 10:14 AM
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Several years ago, the money market fund that was the default at TDAmeritrade had some problems (the NAV went below $1.00), and the accounts were frozen. I had taken my money out of that money market fund, and put it with another that held only treasury bonds. There was no problem there, but the manager was the same as the one with the problem, and so my funds got frozen also.

TDAmeritrade was not at all helpful. Since I was using that money for living expenses, I had to scramble around to find other sources for living expenses, and ended up using a line of credit for $20,000. Eventually, everything was OK, although I think that the people in the default money market fund lost money.

Anyway, I do not want to go through that again, and so I have several different accounts.
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