Unlocking the Value of Your Investments: A Guide to Selling Mutual Funds

 Selling Mutual Funds. So, you bought this mutual fund, but it hasn't done as well as you thought it would. Now you need to learn as much as you can about selling mutual funds. First, you need to know how to do some simple things.

The first thing you should do is get in touch with your broker or whoever sold you the mutual fund in the first place. You should be able to sell it with their help. They will ask if you want to sell for net or gross. Selling for net means that you will have to give permission to sell more of the fund so that you get the right amount of money from the sale and all the fees are paid.

If you sell for gross, you get less money because the fees are taken out after the sale. If you hired a broker after you bought this fund, then that person can't be the seller of this fund. You'll have to go back to where you bought it to put in your order to sell it. If you bought the mutual fund online, you'll need to go back there to sell it.

When selling mutual funds, you don't have to worry about using the right lingo. Every broker or manager of a mutual fund knows the words buy and sell. When they ask how much money you need from the sale, you can tell them whether you need to sell for net or gross. It doesn't really matter which way you do it, because you get your money either way. The only difference is that one way gives you a little less money.

When you sell something online, you don't have anyone to help you out. This can make things a little more complicated. You will have to do everything yourself. You might think that all you have to do is push a button, but you have to choose from a number of options, such as net or gross or sell by shares or dollars. If there isn't a "sell all" option, you may have to enter the number of shares in your mutual fund by hand if you want to sell the whole thing.

Whether you sell online or have a broker do it for you, you will have to decide how you want to get your money. You can choose to have the money put into your brokerage account, if you have one, or directly into your bank account, if you already have that option set up. You can also choose to get a check in the mail. Wire transfers used to be common, but they are expensive and not used as much as they used to be. However, if you need the money right away, a wire transfer may be an option if the company lets you. The wire transfer fee may be taken out of the money you are getting.

When you sell mutual funds, this is the most basic information you need. There may be a few more details you need to know, but you will figure those out on your own as you work to sell your mutual fund.