Leaving EdwardJones? Not so fast.

After being a RothIRA account holder at EdwardJones for almost 20 years, I was disgusted after seeing the fees in my yearly meeting. So I initiated an in-kind RothIRA transfer to Fidelity. Today I received the transfer complete notice from Fidelity. Upon checking the balance I noticed it wasn’t even half the amount. Only the ETFs made it in. According to the Fidelity representative, the EJ mutual funds “bounced” because they are proprietary. He then said they are “being held hostage at EdwardJones.” Before saying this he said I would need to call EJ. Woah woah woah, no I said. The ball is in your court. Have them liquidated and move it as cash. I can’t see how this wasn’t done by EJ in the first place. They knew where they were sending the money to, and they do these transfers all the time. Now I have half in one basket and half in another. There’s nothing I can do on this glorious Friday but wait for a call back from Fidelity. What a mess.