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close an existing investment account and tranfer to a new investment account

Unknown
Unknown Member
edited December 2018 in Investing (Windows)
Using windows version of Quicken Premier 2017. I want to close an investment account and transfer current portfolio and history to a new brokerage firm. What is the best way to do this?

Comments

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited December 2018
    Assuming that you mean "what's the best way to record this in Q" ... the answer is DON"T transfer to a new account.

    When the actual transfer, in the real world, is done, just deactivate your current account from the ability to download into Q (TOOLS, Account List, click Edit across from the account name, click Online Services and click Deactivate).  Then exit Q, restart Q and re-activate the account with the new brokerage.

    Thus, everything stays intact, all of your price history is uninterrupted and life goes on as before.  There's just really not much reason to create a whole new account (which is, to you, really just the same account) just because you changed brokerages.

    If you want to mark the event, put some sort of "dummy transaction' in the account register to mark it.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • thecreator
    thecreator SuperUser ✭✭✭✭✭
    edited December 2016

    Assuming that you mean "what's the best way to record this in Q" ... the answer is DON"T transfer to a new account.

    When the actual transfer, in the real world, is done, just deactivate your current account from the ability to download into Q (TOOLS, Account List, click Edit across from the account name, click Online Services and click Deactivate).  Then exit Q, restart Q and re-activate the account with the new brokerage.

    Thus, everything stays intact, all of your price history is uninterrupted and life goes on as before.  There's just really not much reason to create a whole new account (which is, to you, really just the same account) just because you changed brokerages.

    If you want to mark the event, put some sort of "dummy transaction' in the account register to mark it.

    Hi @ Dennis ,

    Before doing anything, make a Manual Backup of your Quicken Data File, before beginning, as well as afterwards, too.

    Plus you can rename the Register, when completed.
    thecreator - User of Quicken Subscription R32.12  USA & Quicken 2017 HBRP R20.6 USA
                       Windows 10 Pro 32 & 64-Bit Build 21354.1
    also            Windows 10 Pro 64-Bit Build 19042.928

    Note: Holding Down the Left Shift Key or Left Ctrl Key produces Window with Quicken 2019 in the Title Bar when click About Quicken,

    View: https://community.quicken.com/discussion/7859218/work-with-copies-of-your-actual-quicken-data-files/p1?new=1

  • Reed Welch
    Reed Welch Member ✭✭✭
    edited October 2018
    What a nightmare for 2017 users, Q should provide a better method
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited December 2016

    What a nightmare for 2017 users, Q should provide a better method

    What are you talking about? Disabling transaction download and switching to a new FI to "move" an investment account from one brokerage to another is pretty simple.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited December 2016

    What a nightmare for 2017 users, Q should provide a better method

    If you created a whole new account in Q, you'd still need to disable download in the old account and enable download in the new account.

    I.E., everything that I suggested you'd have to do anyway ... I just eliminated the "create a new account and transfer all of your holdings" steps.

    How could you POSSIBLY expect it to get any easier???
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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