I'm not sure what it means or how to properly explain what happened.
It's a low risk style IRA and I get a call from my investor saying that the fund has stopped and or quit being an investment vehicle. It was liquidated and the funds are being held as is and waiting to be moved to another IRA.
Something about the funds management changed abruptly and now everyone that has shares has about 30 days to make changes or face getting a check and creating a taxable event. It was going mediocre and was gaining for several months then this gets dropped hard and fast on my investor. He has a ton in this fund and got a call from east cost yesterday and is kinda hot about how certain people were treated.
This must be kind of odd? Or is this just some of the back room activities that go on more frequently than than I understand.