Prior to contacting the Charles Schwab Client Advocacy Team to discuss your Schwab YieldPlus Fund losses, we are recommending to our potential clients that they prepare a Profit/Loss spreadsheet that chronologically reflects all of their purchases, dividends (reinvested and/or distributed), and sales of the fund’s shares. Such a spreadsheet should include the date of the transaction, a description of the transaction (original purchase, dividend reinvestment or distribution, or sale), number of shares, the price per share, and the total dollar amount purchased, sold or actually received as a dividend. This spreadsheet will assist you with your negotiations with Charles Schwab. In the event that those negotiations are unsuccessful, the spreadsheet is an excellent tool to assist you and your attorney in preparing your claim for arbitration or litigation.
There are two ways that you can obtain your spreadsheet information. The more time-consuming method would be to take the information directly from each of your monthly statements from the month that you initially purchased the fund through the month that you completely liquidated your holdings. The simpler and probably quicker method of obtaining this information is to ask your Charles Schwab Financial Consultant to provide to you what is called an “Account History” for your transactions in the Schwab YieldPlus Fund. We have found that the various Charles Schwab Financial Consultants have been very cooperative in providing this service to their clients to assist them in evaluating their options in pursuing recovery of their Schwab YieldPlus Fund losses.
Please feel free to contact Chris Vernon at (239) 319-4434 if you wish to consult with either of us about any of the matters discussed above. We are in the process of signing up additional Schwab YieldPlus clients (generally those clients who lost more than $20,000 in the fund) and expect to be filing a number of new claims in the very near future.