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Beginner investment set up questions Quicken Premier 2017 for Windows

Unknown
Unknown Member
edited January 2019 in Investing (Windows)
I'm thinking of upgrading from Deluxe 2016 to Premier 2017. I had a few questions about setting up investments - mutual funds and stocks.

1) If I have mutual funds at different companies (ie, T Rowe Price, Vanguard, etc.), do I have to log in to each company every time I want quotes? Right now, I'm using an Excel spreadsheet where I log in to each company and enter the numbers I want. I'm hoping Quicken Premier will streamline this process.

2) For each company, would Quicken be able to automatically see different fund families within the company? Or would I be manually finding each fund within a company myself? If so, I can stay with my Excel spreadsheet.

3) I know this is subjective, but are there any opinions on how complicated the setup is for investments and stocks? I'm pretty computer savvy, but this part of Quicken is new for me.

I hope this makes sense. Thanks for any help.

Comments

  • Unknown
    Unknown Member
    edited October 2018
    First off you do not need Premier to do what you are asking.  Deluxe can support it.
    Premier just has some more investment reports and the MorningStar X-Ray Portfolio (gives information on like what sectors your mutual funds are invested in).  And it has the new Zillow house estimate download.  And a couple more tax reports.

    One Step Update basically takes care of updating all the quotes.  The quotes can come from three sources.  Manual entry, the Quicken quote service, and your brokerage.  Normally that last one is only needed for securities that are not publicly listed.  For the publicly listed funds you can request a download of the quotes without running full One Step Update if you like from the tool bar or the Investment portfolio view.

    What you would see as far as how the funds are broken out depends on how your broker pushes that data to Quicken.  But normally most brokers would list each fund separately.

    As far as getting it setup.  It is basically the same process as you do for downloading of say a checking account.  The actual accepting of transactions and keeping it all straight is of course more complicated though because you have different transaction types (actions).  And the brokers don't always code all the transactions correctly as far as what "action" should be used.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited January 2017
    QPW said:

    First off you do not need Premier to do what you are asking.  Deluxe can support it.
    Premier just has some more investment reports and the MorningStar X-Ray Portfolio (gives information on like what sectors your mutual funds are invested in).  And it has the new Zillow house estimate download.  And a couple more tax reports.

    One Step Update basically takes care of updating all the quotes.  The quotes can come from three sources.  Manual entry, the Quicken quote service, and your brokerage.  Normally that last one is only needed for securities that are not publicly listed.  For the publicly listed funds you can request a download of the quotes without running full One Step Update if you like from the tool bar or the Investment portfolio view.

    What you would see as far as how the funds are broken out depends on how your broker pushes that data to Quicken.  But normally most brokers would list each fund separately.

    As far as getting it setup.  It is basically the same process as you do for downloading of say a checking account.  The actual accepting of transactions and keeping it all straight is of course more complicated though because you have different transaction types (actions).  And the brokers don't always code all the transactions correctly as far as what "action" should be used.

    Following up on QPW's comments, you can initiate this setup from your current QW2016 Deluxe edition.  In doing so, I would suggest you create a copy of your current data file, then begin the investment additions on that copy.  You'll be able to see what works and possibly try some different options.  

    I strongly prefer to have multiple funds within one Quicken investment account, but different accounts for different fund families (Vanguard different than Fidelity), and separate accounts for various retirement accounts (Roth IRA, Trad IRA, etc.)  The other option is one Quicken account for each fund owned, still separated by various retirement account choices.  Some funds require the one-to-one relationship.  I find the management easier with multiple funds per account, but your mileage may vary.  Vanguard will do it either way, but you may need to talk to them to get it set up the way you want.  I don't know about Fidelity's policies.  
  • Unknown
    Unknown Member
    edited January 2017
    QPW said:

    First off you do not need Premier to do what you are asking.  Deluxe can support it.
    Premier just has some more investment reports and the MorningStar X-Ray Portfolio (gives information on like what sectors your mutual funds are invested in).  And it has the new Zillow house estimate download.  And a couple more tax reports.

    One Step Update basically takes care of updating all the quotes.  The quotes can come from three sources.  Manual entry, the Quicken quote service, and your brokerage.  Normally that last one is only needed for securities that are not publicly listed.  For the publicly listed funds you can request a download of the quotes without running full One Step Update if you like from the tool bar or the Investment portfolio view.

    What you would see as far as how the funds are broken out depends on how your broker pushes that data to Quicken.  But normally most brokers would list each fund separately.

    As far as getting it setup.  It is basically the same process as you do for downloading of say a checking account.  The actual accepting of transactions and keeping it all straight is of course more complicated though because you have different transaction types (actions).  And the brokers don't always code all the transactions correctly as far as what "action" should be used.

    As far as I know Vanguard is the only one that allows you the choice.  Personally I would never select the option to have one fund per account.
  • Unknown
    Unknown Member
    edited December 2016
    Thank you both so much for your answers. This really helps a lot!! Happy New Year.
This discussion has been closed.