2 separate accounts and acct #'s in quicken with a commonly named (but different) security in each

Unknown
Unknown Member
edited January 2019 in Investing (Windows)
I have 2 accounts with Fidelity.  Separate account numbers.  Separate names.  The one commonality between the accounts is that they each contain a security with an identical name.  The securities are not identical  but are mutual funds from different companies with the same name.and differnent prices .  Quicken will propogate the name and the price of one of the securitities from one account to the other.  In addition if you change either the price or security name in the "holdings" section of the security it propogates the changes to the other account number.  I think this is a bug in Quicken.  Support couldn't resolve the issue after several hours of trying...blamed it on Fidelity.  Has anyone ever experiences this kind of situation?  Can one of your engineers replicate this to see if its an internal issue?  Quicken 2017. R6. build 26.1.6.1  Thanks in advance....

Comments

  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited December 2017
    Let me ask a few questions and get some more information.

    The 2 accounts you reference what kind of accounts are these?  Standard brokerage or some kind of corporate account or single mutual fund account or any other information that might help.  
    What are the two securities that you reference?  Meaning what is their ticker symbol and name as they are traded/listed in the market and how are they set up in Quicken (i.e. in the security list what is the symbol, name, CUSIP, etc)?

    Lastly you mention changing the name or price that quicken propagates the change to the other account.  That leads me to believe that when entering transactions that you are entering transactions in both accounts for the same Quicken security and the 2nd security is not being used (and possibly not even set up).  This could be related to the download and/or the the way the 2 securities are set up.

    Anyway, reply with the above info and we'll go from there.
  • Unknown
    Unknown Member
    edited August 2018
    Hi Kevin.  Many thanks for your reply.  Sorry for the delay in my response.  

    The 2 accounts are 401k accounts with two different employers both of which are held by Fidelity Investments.  The securities do not have a unique CUSIP or symbol as they are mutual fund offerings only within the individual privately managed 401k's.  

    As of 5/22 when i created a backup file, all accounts and securities were downloading correctly,  At some point after that date, one of the 401k's (acct#1) apparently changed the name of the security in question the be identical to the name of a security held in the other 401k account (acct#2).  So, from a quicken perspective I currently have 2 separate 401k accts with unique (fidelity) account numbers associated with each of them, that each contain a security with the exact same name, and nothing other than the unique Fidelity 401k account # to differentiate the security held in acct#1 from that of acct#2 .  

    When I do a download now, it appears that Quicken is taking the first instance of that security name and applying the price associated with it to both accounts...even though the accts have different Fidelity Acct numbers. The prices of the security in question are different and when I log into my Fidelity accounts are correct and balances are calculated correctly.  However, somehow when downloading, only the price associated with the (1st to download) security in acct#1 is being downloaded and used to calculate valuations in both acct#1 and acct#2...even though there are unique account numbers set up in Quicken.  

    I have tried to manually change the name of one of the securities in Quicken to make it different from the other.  But, when I do this, the security name changes in both accounts in Quicken.  Same thing happens if I try to manually change the price in Quicken...both security in the separate accts are changed.    

    I hope this additional information helps.  I doubt I would be able to get either Fidelity or my employer/former employer to change the name of the security....  :-).  Many thanks for your assistance....

    Jeff      
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited June 2017

    Hi Kevin.  Many thanks for your reply.  Sorry for the delay in my response.  

    The 2 accounts are 401k accounts with two different employers both of which are held by Fidelity Investments.  The securities do not have a unique CUSIP or symbol as they are mutual fund offerings only within the individual privately managed 401k's.  

    As of 5/22 when i created a backup file, all accounts and securities were downloading correctly,  At some point after that date, one of the 401k's (acct#1) apparently changed the name of the security in question the be identical to the name of a security held in the other 401k account (acct#2).  So, from a quicken perspective I currently have 2 separate 401k accts with unique (fidelity) account numbers associated with each of them, that each contain a security with the exact same name, and nothing other than the unique Fidelity 401k account # to differentiate the security held in acct#1 from that of acct#2 .  

    When I do a download now, it appears that Quicken is taking the first instance of that security name and applying the price associated with it to both accounts...even though the accts have different Fidelity Acct numbers. The prices of the security in question are different and when I log into my Fidelity accounts are correct and balances are calculated correctly.  However, somehow when downloading, only the price associated with the (1st to download) security in acct#1 is being downloaded and used to calculate valuations in both acct#1 and acct#2...even though there are unique account numbers set up in Quicken.  

    I have tried to manually change the name of one of the securities in Quicken to make it different from the other.  But, when I do this, the security name changes in both accounts in Quicken.  Same thing happens if I try to manually change the price in Quicken...both security in the separate accts are changed.    

    I hope this additional information helps.  I doubt I would be able to get either Fidelity or my employer/former employer to change the name of the security....  :-).  Many thanks for your assistance....

    Jeff      

    Thanks Jeff for the info.  I have no experience with Fidelity and but I know there are many posts about problems with Fidelity and their downloaded transactions.  You may want to search the forum for Fidelity and see if you can find anything or maybe another super user who has experience with Fidelity can shed some light.

    In Quicken the security Name is the unique key so no two securities can have the same name (even if they are only used in separate accounts).

    So if you have transactions in two different accounts that reference the same security name and you go and change the security name in the security list it is going to change it for all transactions in both accounts.

    I cannot be sure what Fidelity is sending in their download for each transaction in each account but given what you have explained here is what I would recommend.

    Set up a separate security for each account.  Since you already have 1 set up add another security and set the name to be the same as the first one but append something unique to the end (I would suggest an account number or name).  This security w/ the account name/# appended to the end is the one you will use for that account.  The normal one (no name/# appended) will be used for the other account.  

    Pick the special security for the account with the least number of transactions for this security because you're going to need to adjust/enter all transactions for this special security when the transactions are downloaded.  Once the security is set up go into that account and change all transactions to be the new security.  Going forward, when you download from Fidelity I think you can then highlight a downloaded transaction and then edit the name to use the special security and then save (and then delete the downloaded transaction from the downloaded section).  In other words I don't think you'll have to manually enter all information for each transaction.

    Clearly this is not ideal but when you have legacy systems that don't understand all securities should be unique regardless of account you have to work around it.  Best of luck.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited June 2017

    Hi Kevin.  Many thanks for your reply.  Sorry for the delay in my response.  

    The 2 accounts are 401k accounts with two different employers both of which are held by Fidelity Investments.  The securities do not have a unique CUSIP or symbol as they are mutual fund offerings only within the individual privately managed 401k's.  

    As of 5/22 when i created a backup file, all accounts and securities were downloading correctly,  At some point after that date, one of the 401k's (acct#1) apparently changed the name of the security in question the be identical to the name of a security held in the other 401k account (acct#2).  So, from a quicken perspective I currently have 2 separate 401k accts with unique (fidelity) account numbers associated with each of them, that each contain a security with the exact same name, and nothing other than the unique Fidelity 401k account # to differentiate the security held in acct#1 from that of acct#2 .  

    When I do a download now, it appears that Quicken is taking the first instance of that security name and applying the price associated with it to both accounts...even though the accts have different Fidelity Acct numbers. The prices of the security in question are different and when I log into my Fidelity accounts are correct and balances are calculated correctly.  However, somehow when downloading, only the price associated with the (1st to download) security in acct#1 is being downloaded and used to calculate valuations in both acct#1 and acct#2...even though there are unique account numbers set up in Quicken.  

    I have tried to manually change the name of one of the securities in Quicken to make it different from the other.  But, when I do this, the security name changes in both accounts in Quicken.  Same thing happens if I try to manually change the price in Quicken...both security in the separate accts are changed.    

    I hope this additional information helps.  I doubt I would be able to get either Fidelity or my employer/former employer to change the name of the security....  :-).  Many thanks for your assistance....

    Jeff      

    The other step I would add to Kevin's instructions would be to uncheck the box "Matched with Online Security" (Edit Security Details) for the security that is currently being improperly used in both accounts.  With your next download you will be prompted to match two (?) Fidelity securities to your Quicken securities.  Hopefully, you will be able to do a 1:1 matching.  If Fidelity continues to treat them as one, the manual efforts Kevin describes will be necessary.    

    If you are not able to get that 1:1 matching for the two securities, you will regularly get reports when Quicken compares holdings - its data to Fidelity's.  You may want to turn off that automatic comparison or you can use it as a level of confirmation that your Quicken data correctly mismatches to the Fidelity data.     
This discussion has been closed.