I just realized recently (after so many years with both of our brokerages) that when I receive their statements it does not show an amount for the total of the CDs we have in the IRA accounts but the amount that the CDs would be worth if sold on the secondary market for that statement date. So many of the balances show a lesser amount than what we actually paid for the CDs. It is almost like they are treating them like stocks which go up and down according to the market price.
When I called them about this, I was told that is to give an indication of what the account would be worth if sold on a certain date. They said the only way they would have to give me the actual amount we paid for the CDs over the years is if we did an IRA transfer. I have never had any of our bank IRA CDs handled this way so it must just be a brokerage "thing". I was wondering if anyone on DA has IRA CDs with a brokerage and if their statements show the balances this way. The brokerages we deal with are Fidelity and Vanguard. Frankly, I don't like looking at the statements and seeing them with a "lost" listed. How can CDs show a lost? I am not concerned with the cost of selling them at any time so I would prefere a brokerage which doesn't handle IRA CDs this way. If you know of any would you please provide the name or names. Thank you very much for any information you can provide.