I have a TRAK Solution Fund setup via my parents through Morgan Stanley at around the time I entered college. Fast forward five years, it doesn't seem that my portfolio has experienced much growth. Not only that, the financial advisor in charge of my TRAK fund has not contacted me once in those five years. The monthly statements are the only indirect communication I receive from the firm. From multiple reviews I've read and questionable business practices the corporation has engaged in over the years, I feel it's time to take my money elsewhere. Currently, my portfolio assets are around $30Kish.
I would like to liquidate these assets so that I may transfer them to my bank account until I figure out a course of action to proceed with in the future. My question is in regards to how smoothly I should expect this process to happen. What percentage can I expect to lose via fees? What kind of road blocks or intimidatory tactics can I expect my financial advisor to put up in order to make the process difficult? Is there a procedure for liquidating assets effectively that won't make my life a living hell?
Basically, I want to gain as much information and knowledge as possible before I make the call.
I would like to liquidate these assets so that I may transfer them to my bank account until I figure out a course of action to proceed with in the future. My question is in regards to how smoothly I should expect this process to happen. What percentage can I expect to lose via fees? What kind of road blocks or intimidatory tactics can I expect my financial advisor to put up in order to make the process difficult? Is there a procedure for liquidating assets effectively that won't make my life a living hell?
Basically, I want to gain as much information and knowledge as possible before I make the call.
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