Question: FA (AUM) to DIY
My FA has me invested in many Dimensional Fund Advisors (DFA) funds (mutual funds and ETFs) . From day one, the FA told me these funds are only available through registered advisors. This remains true for DFA mutual funds, but not for their ETFs. DFA now offers ETFs that are available to retail investors, and many are 1:1 equivalents of the advisor-only mutual funds, so the transition for those holdings should be straightforward.
My main question is around the DFA mutual funds. Based on research and input from AI tools, I believe I can keep my existing mutual fund shares after delinking from my advisor, but will not be able to purchase additional shares going forward. Has anyone gone through a similar transition and been able to retain their DFA mutual fund holdings at Schwab? And if so, are dividends reinvested automatically or paid out as cash?
I plan to meet with my FA within the next month to begin the transition. Any input or firsthand experience would be greatly appreciated.