Our mutual funds have converted to ETFs, and your immediate action is required to transfer your shares.
As a reminder, on December 10, 2021, shares held in the MFAM Global Opportunities Fund were converted into shares in the Motley Fool Global Opportunities ETF (TMFG), and shares held in the MFAM Mid-Cap Growth Fund were converted into shares in the Motley Fool Mid-Cap Growth ETF (TMFM), as part of a tax-free reorganization.
Unlike mutual funds, ETFs cannot be directly held with us because of how they are traded on the secondary market, just like individual stocks. ETFs must be held in professional brokerage accounts.
If your mutual funds were already held in a qualified brokerage account before our conversion to ETFs, then no action is needed.
But, if your mutual funds were held directly with us and you haven’t transferred your account(s) to a brokerage yet, your shares are currently sitting in a temporary holding account with our transfer agent, U.S. Bancorp Fund Services, LLC. Your funds are still invested, but you cannot redeem or purchase any additional shares from this hold-only account.
Which means you must take immediate action and transfer your account to gain access to your funds.
As a valued member of our Foolish family, we’re here to support you through the process for a smooth transition. Please follow these steps to transfer your account and regain access to your money as soon as possible:
- Reach out to your broker and inform them that you would like to transfer your ETF positions in-kind. If you don’t have a brokerage account, you can open one with any qualified brokerage firm, such as E*Trade, TD Ameritrade, Fidelity Investments, USAA, Vanguard, or Charles Schwab.
- We suggest you provide your broker with a copy of your most recent quarterly statement, which includes the account number needed for the transfer. Your account number did not change during the conversion. Your broker will provide you with any additional paperwork they might require to transfer your account.
- Once your broker submits the transfer form to our agent, your shares will be moved into your brokerage account. Brokers can fax or mail your paperwork using the details below.
Motley Fool ETFs
c/o U.S. Bank Global Fund Services
615 East Michigan Street, 3rd Floor
Milwaukee, WI 53202-520
We’ve waived the requirement of a medallion signature guarantee (MSG) for these transfers, so if you see MSG listed as a requirement, please let your broker know we do not require it and ask about their policies.
Our Shareholder Service Team has made themselves available to answer any of your questions, offer transfer assistance, and provide copies of statements and tax documents. Reach out any time Monday-Friday from 8:00 am to 7:00 pm CST at 888-863-8803.
Your broker may also contact our Financial Intermediary Team directly at 800-236-4424.
You might be wondering, why did we make the bold decision to convert our mutual funds to ETFs?
It all comes back to our pursuit of better investment outcomes and our commitment to innovation. Visit our ETFs vs. Mutual Funds page to learn more about the key differences between the two, and why we believe ETFs offer greater benefits for shareholders like you – including lower fees!
Please read the Conversion Information Statement N-14 for more information.
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