Latest 351 Exchange Trick? A $150,000 Minimum
Sometimes less really is more.
In the case of the relatively new world of 351 exchange ETFs, it’s a matter of $1 million or more versus just $150,000. That latter is the new minimum Alpha Architect this week announced for its upcoming US Equity 2 ETF (AAEQ), which is slated to begin trading before the end of the year. But to be more precise, it’s the minimum available to Schwab-custodied accounts. Fidelity clients aren’t so lucky, as the minimum for them is currently $5 million. And it’s generally $1 million for everyone else.
“Because this 351 process is new, some custodians are better at it,” Alpha Architect president Ryan Kirlin said, pointing out that it can take as little as 20 minutes to set up the transfer from…
