This is an alert to all advisors with accounts invested in PCA DFA models. There was an error in the dividend postings for DFA funds on 12/14/16 and 12/15/16 due to DFA providing incorrect prices to TD Ameritrade. This resulted in incorrect dividend postings, and purchases for those accounts set for dividend reinvesting, which required TD to reverse all transactions and repost correctly. For each dividend posting and reinvestment, there could be 3 transactions shown on the client account, 1. the original transaction 2. the reversal of the original transaction and 3. the correct posting. All transactions should be corrected by 12/16/16. We confirmed with TD Ameritrade that all transactions will show on the client statements.
We are sending this alert in case you receive any calls from clients once they receive their December statements and inquire about the transaction activity.
For advisors that submitted trade requests on 12/14/16, or had newly funded accounts invested, those accounts may show duplicated buys and/or sells, however, have been corrected and posted properly.
We apologize for this error that was out of our control, but want to be proactive in notifying you in case you receive inquiries from clients.
Thank you for your continued business and we wish you all a Happy Holiday!