I have a Vanguard brokerage account that I sell from monthly to pay for expenses. The money is all in VFWAX, purchased in a single transaction ~6 years ago, and has dividend reinvestment turned off.
I now have some new cash to invest, however I can't buy into any fund. Not even transfer cash into the money market fund. It fails with an error "We can't accept this order. Contact us at 800-284-7245 for more information." This also happens if I try to exchange my VFWAX into another fund.
When calling they tell me this is due to frequent trading restrictions and will be lifted 30 days after my last sale. The rep says it's not an account error, but is a fund restriction (for every fund) and he can't bypass it.
This seems wrong? I understand not being able to buy back into VFWAX within 30 days, but not being able to buy anything? I can't find anything that would support this.
Has anybody else experienced this? Should I call back and hope for somebody more knowledgeable?