Reserve Primary Fund: Ameriprise, TD Ameritrade Customers Luck Out

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Hey very nice blog!! Man .. I will bookmark your blog and take the feeds also...

Russia of AL 10:40AM March 31, 2010

Hey, if you think you got the shaft with the Primary Fund, you dodged a bullet because you didn't buy into the Reserve's Yield Plus Fund. Those of us who had it recommended to us by TDAmeritrade as a "Money Market" sweep vehicle, found that it was not a money market and was not backed by any form of insurance and does not qualify for an of the money available through the government bailout funds.
I have lost nearly my whole life's savings - seeing the handwriting on the wall, I was selling most of my equities and the proceeds were being "swept" into the RYPTX (just one of the names used to depict the Yield Plus Fund). A full 98.2% of this fund was sold to TDAmeritrade clients - all of whom now have their money tied up with no specific timeframe as to when, or if, or at what value, they will ever see their funds again. The Reserve fund Manager, a Mr. Ledford, actually hung up on my legal representative when he was attempting to get information on the holdings within the fund.
Remember, this was represented as a very safe investment by Ameritrade. Until as recently as October 29th, it was still listed on their site as rated with 5 stars!

JACK MARBY of TN 4:26PM November 05, 2008

why don't any of you bloggers include your email address or phone number? soltanfin@aol.com
Jeff Soltan

jeff soltan of CA 2:36PM October 30, 2008

I had all my childrens' money in the High Yield Fund and I can not get any information from either TDAM or the Reserve. I do not care if I get 100% back on the dollar or 97% back on the dollar, I just want whatever the amount may be back now. I feel like I have failed my kids and it is killing me. Does anybody know what the status maybe. As far as I am aware, the Reserve has not procured the proper waiver for the 7-day rule for the High Yield Fund. Has anybody noticed that the Holdings Report never changes and the holdings include assets which have already matured. Please help!!!

Dennis of IL 7:53PM October 23, 2008

see subject. Latest on this as of 10/21/08

Gerald S. May of MA 5:16PM October 21, 2008

Billion...Million...what's the difference when writing a business news story...

Tbone of NE 11:49AM October 17, 2008

I just wondered if any of you who have a reserve money fund are scared and frustrated as I am? They keep telling us stuff that does not come true.We in the meantime have no access to our money.This was suppose to be a very small investment in Lehman.Why are all of our funds tied up?I was led to believe that they were insured by TD Ameritrade up to $500,0000.00.Why are we the only ones getting screwed? Every one else is getting bailed out.There is incredible negligence here on the part of TD Ameritrade in not knowing where our money was being invested.They had a fiduiary duty to know and put it in a safe place.I emailed the SEC and received no response.This is a very serious situation.I believe we should all start calling,writing and emailing our senetors and congressmen.

kent medowski of MA 6:44AM October 15, 2008

10/4/08
Let's have an update on losses expected (10/13/08) for Ameriprise and Ameritrade customers. Are these losses to be insured either by AMP or FDIC?

Gerald S. May of MA 11:58AM October 04, 2008

10/4/08
Let's have an update on losses expected (10/13/08) for Ameriprise and Ameritrade customers. Are these losses to be insured either by AMP or FDIC?

Gerald S. May of MA 11:58AM October 04, 2008

10/4/08
Let's have an update on losses expected (10/13/08) for Ameriprise and Ameritrade customers. Are these losses to be insured either by AMP or FDIC?

Gerald S. May of MA 11:58AM October 04, 2008