Add Ability to Transfer Shares between Investment Accounts in Quicken for Mac (183 Legacy Votes)

smayer97

Add function to be able to transfer shares from one investment account to another, while preserving cost basis, and any other necessary info, like in QWin.

(If you find this feature helpful, please be sure to click "VOTE" above to increase the count of this post and therefore its visibility to other users and to the developers.)

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smayer97

 I also highly recommend that you browse through the IDEAS section of this forum and VOTE for the request of each of the missing features to be added back into Quicken for Mac....to help direct the priorities of the developers.
To do that, I suggest you read this FAQ on how to filter the IDEAS to just show the ones for the Mac version, then VOTE to your heart's content:
https://getsatisfaction.com/quickencommunity/topics/quicken-getsat-faq-how-to-filter-conversations-d...

The following are some of the many feature requests you will find:

• List of Requests for Report Types and Related Features
• Restore Transactions Downloading Acceptance and Matching workflow 
• Option to Have Debits and Credits Tallied Separately for Reconciliation Process
• Add ability to track/store Prior Reconciled Statements/periods
  
• Improve the Bill Reminders Graph (aka Forecast or Projected Balance)
  
• Add QuickMath functionality
  
• True multi-currency conversion support
  
• many requests for configuration options

Be sure to scroll down the page, as some contain lists of related features. Click on the link to EACH IDEA separately that you are interested in, then click the VOTE button at the top of EACH page that opens up respectively to increase the count and therefore its visibility to the developers.

If you do not click VOTE at the top of the page of each feature, your vote will NOT be counted for THAT specific feature!


(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

Will Fiveash

I just consolidated a couple brokerage accounts shares and cash into an existing brokerage account and I am very disappointed that quicken 2017 for Mac doesn't appear to support tracking the transferred shares in a straightforward way that maintains the share transaction history.  How long has quicken been around?  Seems like this should have been supported by now.

RCinNJ

As you can see from the "Votes" above, quite a few users agree with you. If you haven't already, add your vote.

Unknown

Is there a work around for this? Transferring a stock from one brokerage account to another for QB 2017 for Mac?

J_Mike

Is there a work around for this? Transferring a stock from one brokerage account to another for QB 2017 for Mac?

Yes - manual entry.
Enter a Remove Shares transaction in the old account - the total number of shares held.
Enter a Add Shares in the new account - a separate transaction for each lot.
The Add Shares dialog includes provision to enter the acquisition date and the

Unknown

Is there a work around for this? Transferring a stock from one brokerage account to another for QB 2017 for Mac?

Thank you!

J_Mike

Is there a work around for this? Transferring a stock from one brokerage account to another for QB 2017 for Mac?

Sorry - I fumble-fingered the keyboard while answering - and was too slow on the edit process. Will try and finish the answer here :<((
--------------------------------------------------

Yes - manual entry.
Enter a Remove Shares transaction in the old account - one transaction for the total number of shares held.
Enter a Add Shares in the new account - a separate transaction for each lot.
The Add Shares dialog includes provision to enter the original acquisition date and the original cost of the lot.

Unknown

Is there a work around for this? Transferring a stock from one brokerage account to another for QB 2017 for Mac?

THANK YOU!

RCinNJ

Is there a work around for this? Transferring a stock from one brokerage account to another for QB 2017 for Mac?

If the Shares have multiple lots is it possible to enter them so the Shares in the new account have the same historic info?

pheller

Is there a work around for this? Transferring a stock from one brokerage account to another for QB 2017 for Mac?

This work around certainly allows one to retain cost-basis for lots, but it provides no mechanism for in-kind transfers.  That is, a tax report will show a loss of the entire cost basis for each lot removed from the origin account.

Really need that transfer shares feature, Quicken!

John Burgess

Just upgraded to Q 2018 (subscription) with high hopes that this issue would finally be fixed.  No joy.
Will vote (again) for all of the related investment ideas, as mentioned above...

smayer97

Just upgraded to Q 2018 (subscription) with high hopes that this issue would finally be fixed.  No joy.
Will vote (again) for all of the related investment ideas, as mentioned above...

Only one vote per user...

BTW, you can monitor what updates there are in each release before you buy or upgrade here (note that these are sometimes delayed a few days): 
https://www.quicken.com/support/patching-updates-windows

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

John Burgess

Just upgraded to Q 2018 (subscription) with high hopes that this issue would finally be fixed.  No joy.
Will vote (again) for all of the related investment ideas, as mentioned above...

Did that. I guess the NEW feature “Move and archive investments transactions” doesn’t really mean there is a “Move security transaction” but of course there’s no further information that I could find, so I don’t know what it really means.

smayer97

Just upgraded to Q 2018 (subscription) with high hopes that this issue would finally be fixed.  No joy.
Will vote (again) for all of the related investment ideas, as mentioned above...

The Move & Archive functionality is only available for the Windows version. 

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

jtk.google

I'd like not just a way to move securities from one account, but also to copy a security transaction from one account to another (maintain both accounts).  That's needed for some methods to work around single-mutual-fund restrictions from FIs.

smayer97

I'd like not just a way to move securities from one account, but also to copy a security transaction from one account to another (maintain both accounts).  That's needed for some methods to work around single-mutual-fund restrictions from FIs.

I believe for that to work the transactions could only be moved over if the security is moved at the same time, so are you asking that there should also be the option to move the transactions when a security is being transferred (this could get tricky)?

jtk.google

I'd like not just a way to move securities from one account, but also to copy a security transaction from one account to another (maintain both accounts).  That's needed for some methods to work around single-mutual-fund restrictions from FIs.

In quicken for Windows, I can copy and paste a securities transaction, such as a reinvested dividend or capital gains distribution.  Likewise I would have copied the purchase of the security into the other account before I copied the reinvestments.
So it's not moving the transactions, it's making a complete separate copy of all the transactions.

I end up with the securities' history recorded twice: once in the useless single-mutual-fund account, and once in the combined brokerage account representing the "real" account with the FI.

This gets me automatic download from the FI into the single-mutual-fund account, then I have to manually copy into the "real" account.  That's quite bothersome but I've gotten used to it.

The real fix is for the [removed] FI to fix their back end to provide quicken downloads of all the mutual funds into a single quicken account, but I think they have no incentive or plans to do this, based on their lack of progress in several years.

If only the FI made web connect available, I could intercept the downloads and combine them using a script, but they only seem to have direct connect so I haven't found a way to intercept it...

smayer97

Please keep in mind that this feature should maintain RO/IRR calcuations, etc. e.g. 
ROI/IRR in Quicken for Mac 2018 and security history

Unknown

Is there a work around for this? Transferring a stock from one brokerage account to another for QB 2017 for Mac?

Of course you must also actually *know* the cost basis yourself in order to enter it in the Add Shares function. If you didn't have it already, you could set the portfolio view to some earlier recent date to see what it was on the given security before the Remove Shares was performed in the old/original account. The transfer-shares function could save us so much work!

smayer97

Please keep in mind that this feature should maintain RO/IRR calcuations, etc. e.g. 
ROI/IRR in Quicken for Mac 2018 and security history

Another related discussion on this topic...
Effect of Adding Shares on IRR

Unknown

Quicken for Mac seems to grow more limited as each week and month goes by.

I am by no means a sophisticated investor.

That said, I try to make the best use of what little money I have.

I invest a little on my own and also have the assistance of a financial advisor.

In my brokerage accounts there are the occasional name changes, mergers, fractional payments, spin offs, cash swaps, and more.

Stocks are transferred between accounts.

Stocks are held in CAD and USD funds (my biggest peeve).

Quicken for Mac handles none of these situations.

Until there's meaningful change, I see no reason to upgrade to Quicken for Mac 2018.

Patrick Flaherty

It's been 5 months since the last comment and I just want to make sure this thread stays active. This issue created a significant amount of work I didn't anticipate when I recently changed brokerage accounts, and the potential impact on future changes gets worse every month the portfolio continues to grow.

Concordman

It's been 5 months since the last comment and I just want to make sure this thread stays active. This issue created a significant amount of work I didn't anticipate when I recently changed brokerage accounts, and the potential impact on future changes gets worse every month the portfolio continues to grow.

+1 On this issue, needs to be fixed

Mark Wallace

It's been 5 months since the last comment and I just want to make sure this thread stays active. This issue created a significant amount of work I didn't anticipate when I recently changed brokerage accounts, and the potential impact on future changes gets worse every month the portfolio continues to grow.

Being able to automate one's record keeping of this kind of situation (moving securities from one broker to another) is exactly why people use computers in the first place.

smayer97

It's been 5 months since the last comment and I just want to make sure this thread stays active. This issue created a significant amount of work I didn't anticipate when I recently changed brokerage accounts, and the potential impact on future changes gets worse every month the portfolio continues to grow.

This is an IDEA thread so it remains active until it is implemented. 

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

Quicken Eli

This is definitely a good suggestion!  We would like to run a quick poll among the people who have requested this feature or those who might need it in the future.  We would like to know which of a few approaches would be most useful to you:

1. Based on Security, move ALL transactions from one Account to another.  This would include current positions, closed positions, dividends, return of capital, splits, etc.  The advantage is that it would bring along all of your history for reporting, etc.  But the drawback is that it does not quite match what is happening in the real world, if you are switching to a different brokerage or advisor.  For example, if you want to look at the performance of your old advisor versus your new advisor, this would make it harder to see.  Another disadvantage is that if you move all of the history to the new account, then you connect to the FI for that account, they will probably send down a bunch of Add Shares transactions and you will essentially have duplicate data that you will have to clean up
2. Based on Security, automatically create a "Remove Shares" transaction for the entire position to remove the shares from the old account, and then create one or more "Add Shares" transactions in the new account.  There would be one "Add Shares" for each open Lot, and it would accurately reflect the Acquisition Date (for Holding Period), as well as the correct cost basis for Capital Gains.  All of the original Buys, Sells, Dividends, etc. would remain in the old account.  You could then accurately report on either account individually, or on the combination of two or more accounts to look at the entire history.  This more accurately reflects what happens in the real world when you transfer shares from one brokerage to another.  It should also work correctly when you download transactions from both the old and the new FI.   ***NOTE*** - Several people have reported errors in performance calculations and Capital Gains reporting for this Add/Remove scenario.  We are analyzing those issues and plan to make sure any issues  are addressed.
3. Allow Drag-and-Drop of individual investment transactions, or a group of transactions.  It is simply an automated version of deleting a transaction from one account and adding an equivalent transaction to the other account.  This sounds nice, and flexible, but it could lead to significant issues.  For example, if you have a Buy of 100 shares and a Sell of the same 100 shares, then you move the Buy to a different account, but leave the Sell in the original account, you will now have 100 shares in the new account, and a short position of -100 shares in the old account.  It also could cause "interesting" issues if there are Placeholder transactions in the account.  When you move the Buy transaction out of the old account, the Placeholder would be recalculated and essentially replace them in the old account.  Another problem that comes up is handling shares that have already been sold using specific lot assignment.  These relationships could get destroyed when individual transactions are moved around.

Let us know (in comments here) what you prefer and PLEASE try to explain WHY it works better for your situation.

Jeff Stearns

This is definitely a good suggestion!  We would like to run a quick poll among the people who have requested this feature or those who might need it in the future.  We would like to know which of a few approaches would be most useful to you:

1. Based on Security, move ALL transactions from one Account to another.  This would include current positions, closed positions, dividends, return of capital, splits, etc.  The advantage is that it would bring along all of your history for reporting, etc.  But the drawback is that it does not quite match what is happening in the real world, if you are switching to a different brokerage or advisor.  For example, if you want to look at the performance of your old advisor versus your new advisor, this would make it harder to see.  Another disadvantage is that if you move all of the history to the new account, then you connect to the FI for that account, they will probably send down a bunch of Add Shares transactions and you will essentially have duplicate data that you will have to clean up
2. Based on Security, automatically create a "Remove Shares" transaction for the entire position to remove the shares from the old account, and then create one or more "Add Shares" transactions in the new account.  There would be one "Add Shares" for each open Lot, and it would accurately reflect the Acquisition Date (for Holding Period), as well as the correct cost basis for Capital Gains.  All of the original Buys, Sells, Dividends, etc. would remain in the old account.  You could then accurately report on either account individually, or on the combination of two or more accounts to look at the entire history.  This more accurately reflects what happens in the real world when you transfer shares from one brokerage to another.  It should also work correctly when you download transactions from both the old and the new FI.   ***NOTE*** - Several people have reported errors in performance calculations and Capital Gains reporting for this Add/Remove scenario.  We are analyzing those issues and plan to make sure any issues  are addressed.
3. Allow Drag-and-Drop of individual investment transactions, or a group of transactions.  It is simply an automated version of deleting a transaction from one account and adding an equivalent transaction to the other account.  This sounds nice, and flexible, but it could lead to significant issues.  For example, if you have a Buy of 100 shares and a Sell of the same 100 shares, then you move the Buy to a different account, but leave the Sell in the original account, you will now have 100 shares in the new account, and a short position of -100 shares in the old account.  It also could cause "interesting" issues if there are Placeholder transactions in the account.  When you move the Buy transaction out of the old account, the Placeholder would be recalculated and essentially replace them in the old account.  Another problem that comes up is handling shares that have already been sold using specific lot assignment.  These relationships could get destroyed when individual transactions are moved around.

Let us know (in comments here) what you prefer and PLEASE try to explain WHY it works better for your situation.

I'm one of the folks who requested this feature.  It's something that affects several of my investment accounts.

My preference is approach #2 for the reasons stated in the proposal.

The single most important criteria for Quicken is to not produce wrong answers.  That's more important than speed, elegance, flashy GUI, or anything else.  Don't give wrong answers.  Approach #2 aligns best with this.

J_Mike

This is definitely a good suggestion!  We would like to run a quick poll among the people who have requested this feature or those who might need it in the future.  We would like to know which of a few approaches would be most useful to you:

1. Based on Security, move ALL transactions from one Account to another.  This would include current positions, closed positions, dividends, return of capital, splits, etc.  The advantage is that it would bring along all of your history for reporting, etc.  But the drawback is that it does not quite match what is happening in the real world, if you are switching to a different brokerage or advisor.  For example, if you want to look at the performance of your old advisor versus your new advisor, this would make it harder to see.  Another disadvantage is that if you move all of the history to the new account, then you connect to the FI for that account, they will probably send down a bunch of Add Shares transactions and you will essentially have duplicate data that you will have to clean up
2. Based on Security, automatically create a "Remove Shares" transaction for the entire position to remove the shares from the old account, and then create one or more "Add Shares" transactions in the new account.  There would be one "Add Shares" for each open Lot, and it would accurately reflect the Acquisition Date (for Holding Period), as well as the correct cost basis for Capital Gains.  All of the original Buys, Sells, Dividends, etc. would remain in the old account.  You could then accurately report on either account individually, or on the combination of two or more accounts to look at the entire history.  This more accurately reflects what happens in the real world when you transfer shares from one brokerage to another.  It should also work correctly when you download transactions from both the old and the new FI.   ***NOTE*** - Several people have reported errors in performance calculations and Capital Gains reporting for this Add/Remove scenario.  We are analyzing those issues and plan to make sure any issues  are addressed.
3. Allow Drag-and-Drop of individual investment transactions, or a group of transactions.  It is simply an automated version of deleting a transaction from one account and adding an equivalent transaction to the other account.  This sounds nice, and flexible, but it could lead to significant issues.  For example, if you have a Buy of 100 shares and a Sell of the same 100 shares, then you move the Buy to a different account, but leave the Sell in the original account, you will now have 100 shares in the new account, and a short position of -100 shares in the old account.  It also could cause "interesting" issues if there are Placeholder transactions in the account.  When you move the Buy transaction out of the old account, the Placeholder would be recalculated and essentially replace them in the old account.  Another problem that comes up is handling shares that have already been sold using specific lot assignment.  These relationships could get destroyed when individual transactions are moved around.

Let us know (in comments here) what you prefer and PLEASE try to explain WHY it works better for your situation.

My vote is for Option 2;
A Remove Shares from the old account and an Add Shares for each lot in the destination account which retain the Cost Basis info.
Prior history is retained in the old original account.
The old account continues to exactly match monthly statements.
As indicated, this reflects the "real world".

Option 2) duplicates how QWin handles moving holdings from one account to the other and it has worked very well for me when needed.

Option 1) does not reflect the "real world" and destroys the integrity of the old account in that it no longer matches up with prior statements.

Option 3 is interesting - but, as pointed out,  it provides a golden opportunity for major problems if not carefully and properly executed. This is probably better left alone.

Mike_jMGS

This is definitely a good suggestion!  We would like to run a quick poll among the people who have requested this feature or those who might need it in the future.  We would like to know which of a few approaches would be most useful to you:

1. Based on Security, move ALL transactions from one Account to another.  This would include current positions, closed positions, dividends, return of capital, splits, etc.  The advantage is that it would bring along all of your history for reporting, etc.  But the drawback is that it does not quite match what is happening in the real world, if you are switching to a different brokerage or advisor.  For example, if you want to look at the performance of your old advisor versus your new advisor, this would make it harder to see.  Another disadvantage is that if you move all of the history to the new account, then you connect to the FI for that account, they will probably send down a bunch of Add Shares transactions and you will essentially have duplicate data that you will have to clean up
2. Based on Security, automatically create a "Remove Shares" transaction for the entire position to remove the shares from the old account, and then create one or more "Add Shares" transactions in the new account.  There would be one "Add Shares" for each open Lot, and it would accurately reflect the Acquisition Date (for Holding Period), as well as the correct cost basis for Capital Gains.  All of the original Buys, Sells, Dividends, etc. would remain in the old account.  You could then accurately report on either account individually, or on the combination of two or more accounts to look at the entire history.  This more accurately reflects what happens in the real world when you transfer shares from one brokerage to another.  It should also work correctly when you download transactions from both the old and the new FI.   ***NOTE*** - Several people have reported errors in performance calculations and Capital Gains reporting for this Add/Remove scenario.  We are analyzing those issues and plan to make sure any issues  are addressed.
3. Allow Drag-and-Drop of individual investment transactions, or a group of transactions.  It is simply an automated version of deleting a transaction from one account and adding an equivalent transaction to the other account.  This sounds nice, and flexible, but it could lead to significant issues.  For example, if you have a Buy of 100 shares and a Sell of the same 100 shares, then you move the Buy to a different account, but leave the Sell in the original account, you will now have 100 shares in the new account, and a short position of -100 shares in the old account.  It also could cause "interesting" issues if there are Placeholder transactions in the account.  When you move the Buy transaction out of the old account, the Placeholder would be recalculated and essentially replace them in the old account.  Another problem that comes up is handling shares that have already been sold using specific lot assignment.  These relationships could get destroyed when individual transactions are moved around.

Let us know (in comments here) what you prefer and PLEASE try to explain WHY it works better for your situation.

From what I understand, #1 matches the method used in Quicken Mac 2007. It seems the simplest and straightforward (one step) method. Prefer to keep all the history of the security together vs., the advisor's performance. If you are moving a complete account to a different brokerage, why not simply change the name of the account and update it with the FI info

Concordman

This is definitely a good suggestion!  We would like to run a quick poll among the people who have requested this feature or those who might need it in the future.  We would like to know which of a few approaches would be most useful to you:

1. Based on Security, move ALL transactions from one Account to another.  This would include current positions, closed positions, dividends, return of capital, splits, etc.  The advantage is that it would bring along all of your history for reporting, etc.  But the drawback is that it does not quite match what is happening in the real world, if you are switching to a different brokerage or advisor.  For example, if you want to look at the performance of your old advisor versus your new advisor, this would make it harder to see.  Another disadvantage is that if you move all of the history to the new account, then you connect to the FI for that account, they will probably send down a bunch of Add Shares transactions and you will essentially have duplicate data that you will have to clean up
2. Based on Security, automatically create a "Remove Shares" transaction for the entire position to remove the shares from the old account, and then create one or more "Add Shares" transactions in the new account.  There would be one "Add Shares" for each open Lot, and it would accurately reflect the Acquisition Date (for Holding Period), as well as the correct cost basis for Capital Gains.  All of the original Buys, Sells, Dividends, etc. would remain in the old account.  You could then accurately report on either account individually, or on the combination of two or more accounts to look at the entire history.  This more accurately reflects what happens in the real world when you transfer shares from one brokerage to another.  It should also work correctly when you download transactions from both the old and the new FI.   ***NOTE*** - Several people have reported errors in performance calculations and Capital Gains reporting for this Add/Remove scenario.  We are analyzing those issues and plan to make sure any issues  are addressed.
3. Allow Drag-and-Drop of individual investment transactions, or a group of transactions.  It is simply an automated version of deleting a transaction from one account and adding an equivalent transaction to the other account.  This sounds nice, and flexible, but it could lead to significant issues.  For example, if you have a Buy of 100 shares and a Sell of the same 100 shares, then you move the Buy to a different account, but leave the Sell in the original account, you will now have 100 shares in the new account, and a short position of -100 shares in the old account.  It also could cause "interesting" issues if there are Placeholder transactions in the account.  When you move the Buy transaction out of the old account, the Placeholder would be recalculated and essentially replace them in the old account.  Another problem that comes up is handling shares that have already been sold using specific lot assignment.  These relationships could get destroyed when individual transactions are moved around.

Let us know (in comments here) what you prefer and PLEASE try to explain WHY it works better for your situation.

Yes Option 2 , agree with JM that option 2 is the way it is /was handled in QWin . I recall having to to go this using QW years ago & it worked quite well