I’m one of those people who like brokerage accounts where I can buy fractional shares and securities for as little as $1 or $5. That’s why I have Fidelity and SoFi brokerage accounts.
I was contacted by SoFi that I had a margin call of about $340, the only problem is I don’t have a margin account. I immediately contacted them about this discrepancy, because if I didn’t fix it by depositing money, they would sell the securities. Turns out there was no margin call, just a discrepancy on security I own.
These days, especially with cyber theft, you need to check your trust statements for any discrepancies or issues. As a plan sponsor, you need to make sure the money is where you say it is, and any issues need to be fixed.