investment account list or security list after a spinoff spinoff

Unknown
Unknown Member
edited October 2018 in Investing (Windows)

For all my
investment accounts I have created a separate account to  record
transactions.  Then Metlife decided to do a spinoff to Brighthouse. Using
the spinoff wizard I expected to see another investment account called
Brighthouse. What I found was a security call Brighthouse. I am slowly
realizing there is a difference between accounts and security. When I tried to
redo the spin off it kept telling me Brighthouse already existed. but I could
not see it in account list. After research I found how to display my security
list. Surprise

is there a
way to create an investment account using the transaction the spinoff created?

I only use
my investments account to track dividends  etc.  

I am
running windows 10 Quicken Premier 2017 R5  26.1.15.5

Thanks
Bill

Comments

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited September 2019
    is there a way to create an investment account using the transaction the spinoff created?
    No.  As you have now discovered, a security is different than an account.  The spinoff action can create a new security.  It will not create a new account because Quicken is not planned to be used the way you are using it. 

    If your spinoff action properly created the Brighthouse security and added shares shares of the Brighthouse SECURITY into your MetLife account, you should be able to:
    1. Independently create a new Brighthouse ACCOUNT, then
    2. Use the Shares Transferred between accounts macro-transaction to move those Brighthouse SECURITY shares from the Metlife account to the Brighthouse ACCOUNT.
    Personally, I'd rather see you learn to use the features as intended (multiple securities in one account, or in a few accounts if applicable), but if you have a system working for you now, carry on.
  • Unknown
    Unknown Member
    edited September 2019

    is there a way to create an investment account using the transaction the spinoff created?
    No.  As you have now discovered, a security is different than an account.  The spinoff action can create a new security.  It will not create a new account because Quicken is not planned to be used the way you are using it. 

    If your spinoff action properly created the Brighthouse security and added shares shares of the Brighthouse SECURITY into your MetLife account, you should be able to:
    1. Independently create a new Brighthouse ACCOUNT, then
    2. Use the Shares Transferred between accounts macro-transaction to move those Brighthouse SECURITY shares from the Metlife account to the Brighthouse ACCOUNT.
    Personally, I'd rather see you learn to use the features as intended (multiple securities in one account, or in a few accounts if applicable), but if you have a system working for you now, carry on.

    Mostly my stocks were results form insurance I had. Therefore, they were single accounts. The Metlife spinoff is the first financial group with 2 stock.

     Where do I find how to set up this as a security?

    do I set up a investment account with the name computershare, then redefine metlife and Brighthouse to the new financial inst.?

    bill

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited September 2019

    is there a way to create an investment account using the transaction the spinoff created?
    No.  As you have now discovered, a security is different than an account.  The spinoff action can create a new security.  It will not create a new account because Quicken is not planned to be used the way you are using it. 

    If your spinoff action properly created the Brighthouse security and added shares shares of the Brighthouse SECURITY into your MetLife account, you should be able to:
    1. Independently create a new Brighthouse ACCOUNT, then
    2. Use the Shares Transferred between accounts macro-transaction to move those Brighthouse SECURITY shares from the Metlife account to the Brighthouse ACCOUNT.
    Personally, I'd rather see you learn to use the features as intended (multiple securities in one account, or in a few accounts if applicable), but if you have a system working for you now, carry on.
    In general an account can hold multiple securities.  My brokerage account for example holds about 14 stocks and mutual funds.

    There IS, in Q, an odd exception to this.  Some mutual fund companies require that each of their fund holdings be recorded in a separate account in Q ... and that only the particular fund can EVER be in that Q account.  This is called a "Single Mutual Fund" account ... and such isn't available to stocks and other securities.

    If you hold a fund in an SMF, and decide to sell that fund and buy another, you need to sell the 1st fund, create a new account, xfer the cash to the new account and the fund will be automatically bought (if the new account is also an SMF) or awaiting your purchase transaction if not an SMF.

    Lastly, you can have many different accounts at your broker.  At my broker, there's:
    • My taxable brokerage account
    • My wife's taxable brokerage account
    • My Rollover IRA
    • My SEP IRA
    • My Roth IRA
    • My wife's Rollover IRA
    6 different accounts, all with multiple funds/stocks contained therein.

    Additionally, she has a pair of 403b accounts from prior employers that we're working on consolidating into her Rollover IRA.  Both are held at different fund companies and are separate from the accounts at my broker.
    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 September 2019

    is there a way to create an investment account using the transaction the spinoff created?
    No.  As you have now discovered, a security is different than an account.  The spinoff action can create a new security.  It will not create a new account because Quicken is not planned to be used the way you are using it. 

    If your spinoff action properly created the Brighthouse security and added shares shares of the Brighthouse SECURITY into your MetLife account, you should be able to:
    1. Independently create a new Brighthouse ACCOUNT, then
    2. Use the Shares Transferred between accounts macro-transaction to move those Brighthouse SECURITY shares from the Metlife account to the Brighthouse ACCOUNT.
    Personally, I'd rather see you learn to use the features as intended (multiple securities in one account, or in a few accounts if applicable), but if you have a system working for you now, carry on.

    you suggested that Personally, I'd rather see you learn to use the features as intended.

    I have 2 accounts that use the same brokerage house. These are separate accounts. How do I combine the accounts into one account and include the transactions I  have entered over the years?

    As for my Brighthouse spin off, can I run the wizard in metlife/,. then create a separate account and move/copy the transaction into the new account?

    thanks bill

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited September 2019

    is there a way to create an investment account using the transaction the spinoff created?
    No.  As you have now discovered, a security is different than an account.  The spinoff action can create a new security.  It will not create a new account because Quicken is not planned to be used the way you are using it. 

    If your spinoff action properly created the Brighthouse security and added shares shares of the Brighthouse SECURITY into your MetLife account, you should be able to:
    1. Independently create a new Brighthouse ACCOUNT, then
    2. Use the Shares Transferred between accounts macro-transaction to move those Brighthouse SECURITY shares from the Metlife account to the Brighthouse ACCOUNT.
    Personally, I'd rather see you learn to use the features as intended (multiple securities in one account, or in a few accounts if applicable), but if you have a system working for you now, carry on.
    Does the brokerage consider them to be 1 account ... or 2?  What shows up on your statement?
    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 September 2019

    is there a way to create an investment account using the transaction the spinoff created?
    No.  As you have now discovered, a security is different than an account.  The spinoff action can create a new security.  It will not create a new account because Quicken is not planned to be used the way you are using it. 

    If your spinoff action properly created the Brighthouse security and added shares shares of the Brighthouse SECURITY into your MetLife account, you should be able to:
    1. Independently create a new Brighthouse ACCOUNT, then
    2. Use the Shares Transferred between accounts macro-transaction to move those Brighthouse SECURITY shares from the Metlife account to the Brighthouse ACCOUNT.
    Personally, I'd rather see you learn to use the features as intended (multiple securities in one account, or in a few accounts if applicable), but if you have a system working for you now, carry on.

    I think I have used the wrong word. Brokerage.

     Computershare Investment and AST Trust Company provide access to a transfer agent, registrar and dividends among other things for my investments. Something like outsourcing.

    Manulife just transfer from Computershare to AST. I just needed to change my login, to AST.

    Brighthouse and MetLife uses Computershare.

    How do I setup a separate Brighthouse investment account and show the Metlife spinoff?

     

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited September 2019

    is there a way to create an investment account using the transaction the spinoff created?
    No.  As you have now discovered, a security is different than an account.  The spinoff action can create a new security.  It will not create a new account because Quicken is not planned to be used the way you are using it. 

    If your spinoff action properly created the Brighthouse security and added shares shares of the Brighthouse SECURITY into your MetLife account, you should be able to:
    1. Independently create a new Brighthouse ACCOUNT, then
    2. Use the Shares Transferred between accounts macro-transaction to move those Brighthouse SECURITY shares from the Metlife account to the Brighthouse ACCOUNT.
    Personally, I'd rather see you learn to use the features as intended (multiple securities in one account, or in a few accounts if applicable), but if you have a system working for you now, carry on.
    Are you downloading transactions from Compushare and AST? If you are from one or both, then you would want an investment account for each of them. Further, if Compushare treats the two companies you own through them as separate accounts with separate download process , each of those would be treated as separate accounts.


    On the other hand, if there is no transaction downloading involved, all three securities can be rolled into and managed within Quicken as one account. Yiu could create a manual brokerage account (Personal Holdings?). I would then use the Shares Transferred macro transaction to combine holdings from you individual accounts to the common account. Your prior individual accounts would remain as is; the new account would be used for ongoing future transactions.


    Once you have the MetLife in the common account, you would use the Corporate Spinoff to generate the Brighthouse holding.


    Before entering this overall process make sure you have a good backup or are first working on a copy of your file.
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