I took all my money out of my Edward Jones broker after breaking even over a 9 year period. Of course I didn't have a ton of money in there ($2500), but my parents did and they lost money from this guys lack of knowledge and experience.
I've found that I do much better on my own whether it's investing in mutual funds or stocks.
I too have been told many a times that a fund is closed through Wachovia only to find out that Wachovia does not have an agreement with that security or particular fund. I have found that the Broker may not know since I have pushed the issue with Wachovia only to find out that this is the case that Wachovia does put out misleading info.regarding the status of certain funds. So I opened another account with Ameritrade so that I can buy what I need. You will find out that usually you can not buy everything through one broker. Hope this helps
I've got a friend who has a wachovia account. He advised me several weeks ago that since i left the states morgan stanley took over his wachovia account. They made him sell his cgmfx shares as they don't have an agreement with this particular fund as you note has been your experience. I've been cognizant of the inability to purchase funds through various brokers due to no agreement between the fund and the broker, this is the first time i've run across a broker forcing a sale of an already held fund when they took over an existing account.
your broker is lying. it is still open to new investors. He told you that either because its not offered within Wachovia Network or he wouldn't collect a commission from this no-load fund. Brokers make money by selling mutual funds that are loaded, that is have a 5/6% upfront fee to get into the fund.
Looks like it's time for a new broker. I think the 12b1 fee may also get kicked back to the broker in no-load funds. Since this fund has no 12b1 he's BS'ing you. Morningstar has pretty good details on this stuff, and on the first page where it says the minumum investment it will say if it's closed or not.
Net Expense Ratio: Annual Report 1.02