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Securities Renamed, Now Can't Sell or Move Them - Help!

moski

I have had investments in two Powershares ETFs, QQQ and RSP. Yesterday the name officially changed from Powershares to Invesco, retaining the same symbols. Quicken dutifully downloaded this information from my investment group (NFS...aka Wealthscape) and has added Placeholder transactions to recognize the new shares under the Invesco name. The Powershares positions are still showing up in Portfolio view, and in the Securities window both the Powershares and Invesco securities are now listed. However, when I try to Remove the Powershares positions so I can Add the Invesco positions, I can't do this. The Powershares positions don't show up in the drop down list of potential securities I can remove. So there is a mismatch between what the Portfolio view says I have compared to what the Transaction window thinks I have the ability to Sell/Move. Any ideas on how to get around this?

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moski

Never mind...I figured this one out. There were really two issues. The reason I think none of the securities were showing up in the Transaction window is because I had recategorized them as "Index" instead of "Stock". There is no "ETF" category so I've been using "Index" to separate the mutual funds from the ETFs. That may not play out in the long term...we'll see what happens if I need to buy more securities resulting from dividends or what-not. Once I recategorized them temporarily as Stock, then I remembered about the Merge Securities button that appears in the Securities window. That made it very easy to merge the two names and use the new one as the correct name. All the transactions transferred perfectly once I did that.

It does bring up something I know has been asked by me and others...when are we going to have either A) and ETF category, or

the ability to add other categories as needed to help us track the different types of securities we own. For example, there is a Small Cap and Large Cap in the Types field, but no Mid Cap. A lot of funds/ETFs track Small-Mid Cap. Also, what about industry specific funds like Energy, BioTech, etc.? I don't think the Quicken guys should have think of all these, but we should be able to add them ourselves to help us track different tranches of our portfolio.

Tom Young

Never mind...I figured this one out. There were really two issues. The reason I think none of the securities were showing up in the Transaction window is because I had recategorized them as "Index" instead of "Stock". There is no "ETF" category so I've been using "Index" to separate the mutual funds from the ETFs. That may not play out in the long term...we'll see what happens if I need to buy more securities resulting from dividends or what-not. Once I recategorized them temporarily as Stock, then I remembered about the Merge Securities button that appears in the Securities window. That made it very easy to merge the two names and use the new one as the correct name. All the transactions transferred perfectly once I did that.

It does bring up something I know has been asked by me and others...when are we going to have either A) and ETF category, or the ability to add other categories as needed to help us track the different types of securities we own. For example, there is a Small Cap and Large Cap in the Types field, but no Mid Cap. A lot of funds/ETFs track Small-Mid Cap. Also, what about industry specific funds like Energy, BioTech, etc.? I don't think the Quicken guys should have think of all these, but we should be able to add them ourselves to help us track different tranches of our portfolio.

Just for future reference...
The easiest way to handle this sort of situation is to decline the "Add" action and simply enter a Corporate Name Change as of the appropriate date. The name change does ripple backwards in time but I don't see that it's important to maintain that distinction. It's really the same security after all and Quicken does put in a "Reminder" as of the date of the name change.

moski

Never mind...I figured this one out. There were really two issues. The reason I think none of the securities were showing up in the Transaction window is because I had recategorized them as "Index" instead of "Stock". There is no "ETF" category so I've been using "Index" to separate the mutual funds from the ETFs. That may not play out in the long term...we'll see what happens if I need to buy more securities resulting from dividends or what-not. Once I recategorized them temporarily as Stock, then I remembered about the Merge Securities button that appears in the Securities window. That made it very easy to merge the two names and use the new one as the correct name. All the transactions transferred perfectly once I did that.

It does bring up something I know has been asked by me and others...when are we going to have either A) and ETF category, or the ability to add other categories as needed to help us track the different types of securities we own. For example, there is a Small Cap and Large Cap in the Types field, but no Mid Cap. A lot of funds/ETFs track Small-Mid Cap. Also, what about industry specific funds like Energy, BioTech, etc.? I don't think the Quicken guys should have think of all these, but we should be able to add them ourselves to help us track different tranches of our portfolio.

Thanks...but I don't know where that feature is in QM2018...is it really there? Or is that a Windows-only feature?

Tom Young

Never mind...I figured this one out. There were really two issues. The reason I think none of the securities were showing up in the Transaction window is because I had recategorized them as "Index" instead of "Stock". There is no "ETF" category so I've been using "Index" to separate the mutual funds from the ETFs. That may not play out in the long term...we'll see what happens if I need to buy more securities resulting from dividends or what-not. Once I recategorized them temporarily as Stock, then I remembered about the Merge Securities button that appears in the Securities window. That made it very easy to merge the two names and use the new one as the correct name. All the transactions transferred perfectly once I did that.

It does bring up something I know has been asked by me and others...when are we going to have either A) and ETF category, or the ability to add other categories as needed to help us track the different types of securities we own. For example, there is a Small Cap and Large Cap in the Types field, but no Mid Cap. A lot of funds/ETFs track Small-Mid Cap. Also, what about industry specific funds like Energy, BioTech, etc.? I don't think the Quicken guys should have think of all these, but we should be able to add them ourselves to help us track different tranches of our portfolio.

Sorry, I'm Windows-centric and didn't notice the "Mac" aspect of your post. The Mac Quicken users are real pioneers since that product seems to be so much less developed than the Windows product.

TheDude

It is not clear to me if this best handled through a "Corporate Name Change" Transaction or by a "Corporate Acquisition" Transaction? It appears the CUSIP ID has changed, so the Acquisition might be the way to go, as it more clearly keeps the historical information correct.