Ariel Funds makes good (or sometimes it pays to go to the top)

We have saved our kids' gift money and other additions in Ariel Mutual Funds accounts.   Ariel is a socially conscious investment fund.   Each year we get a capital gain income statement.  The actual income and thus the tax are based on the average of costs at which we bought in over time.   This can be a bit complicated calculation.   For Benny, Ariel has provided the average cost basis.   Abby's account has been with the company before they switched their accounting system and so they have not provided the basis...and thus it has cost us money to have an accountant calculate the cost basis. They said no, their software could not handle that.   I argued that they should reward loyal longstanding customers, rather than cost them several hundred dollars a year.  They still said no.

Last year I zeroed out the account and then put money in, expecting that now the problem of old investments would go away.   But no.....I was told that their computers only could see her as one of the group for which they could not calculate.   They suggested next year I close the account completely and open a new one.   I said can't you just do that for me.   They also said no to that.   

So I wrote a polite letter to the President of the Company.   Three days later (today) I received a call from a very helpful Executive Vice President of the Company who said of course  they would give me the cost basis, even if they had to compute it for me manually.   They promised to call back in a few days with a detailed update.   They're also sending an Ariel monopoly game.   Glass half full:   the company quickly responded.   Glass half empty:  Could not their customer service people have accomplished the same thing.  On balance I'm pleased with the response and time invested by the "higher ups" to make this right.   Lesson learned:  it sometimes pays to go to the top.