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How to add a third mutual fund to an existing brokerage account

Unknown
Unknown Member
edited October 2018 in Investing (Windows)
We are using Quicken Deluxe 2017, Version R4,  on Windows.  We are trying to add a third mutual fund to an existing brokerage account.  It will only create it as a new account and not add it to the brokerage account.

Comments

  • bmciance
    bmciance SuperUser ✭✭✭✭✭
    edited March 2017
    The mutual fund should first be created as a new security and then you purchase that security in the existing brokerage account.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited October 2018
    Carroll,
    By any chance are you trying to set up the fund/account as a 'Single Mutual Fund'?  That would require you to create a separate account for each fund ... but doing so is ill-advised unless your fund company requires it for downloading.

    The MUCH preferable option is to create a Brokerage/retirement account (as appropriate) and then create the securities that you want to hold in such account ... and finally purchase/add those securities to the account.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Unknown
    Unknown Member
    edited March 2017
    Thanks for the replies.  The initial brokerage account was not set up as a single mutual fund and already has two securities in it, but I do not recall how I got them both in.  I can set up the third account as a separate fund, but how do I purchase it within the broader brokerage account?  I do not see an option for this.
  • bmciance
    bmciance SuperUser ✭✭✭✭✭
    edited March 2017
    How did you actually get the new fund?  Did you add money to purchase it or did you sell part of one of the other funds to purchase it?  You should enter transactions to reflect what happened in reality.
  • Unknown
    Unknown Member
    edited October 2018
    I think the pertain question to this "It will only create it as a new account and not add it to the brokerage account.
    " is how are you trying to add the security (exact steps)?

    Note the normal ways that people create securities is that if they are doing it through a download Quicken asks about a new security and it is created at that time.  Or manually they might type in a buy and the security name and create it at that time.  Or create the security from on the security list and then do the buy and select the security from the list.

    At no time (even with single mutual fund accounts) does Quicken ask to create an account just for another security.

    BUT during a download if Quicken gets information for a new account it will suggest creating it.
    And of course along with that new account there would transaction to buy the securities, which might be your "third" security.

    If this last part fits then your financial institution is coding the download information saying this security is in a different account.
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