Investment Cost Basis Missing When Security Name Changed

jfclague Member ✭✭✭✭
edited July 2018 in Investing (Windows)
I have a Fidelity account where investments changed their name. Fidelity sold the old named security and purchased the new named security but didn't carry the cost basis to the new named investment. When I look at the holdings summary, there is a current value but no cost basis.

How do I add the cost for each security that has been renamed. I am running Quicken 2018 Premier.


  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited June 2018
    If Fidelity (in the real world) sold the prior security and bought the new security, the cost basis does not and should not transfer.  That situation is not a security changing a name.

    If the real world transaction was not a sell and buy, but was either a pure name change, or an acquisition where one security or mutual fund took over a different one, then Fidelity should not have sent the sell and buy transactions.

    So what was the real world transaction?  Specific security names would be helpful in getting you a cogent answer.  
  • jfclague
    jfclague Member ✭✭✭✭
    edited June 2018
    Fidelity treated the name change by selling the old security and purchasing the new security with a memo stating Name Change. The transactions had no Price Received/Total Sale or Price Paid/Total Cost but just Number of Shares.

    The securities that were renamed were as follows:

    RFG: PowerShares ETF Fund S&P MidCap Growth to Invesco ETF TR S&P MidCap 400 PR
    PKW: PowerShares Buyback Achievers Portfolio ETF to Invesco ETF Traded Buyback Achievers
    QQQ: PowerShares QQQ Trust Series 1 ETF to Invesco QQQ Trust Unit Series 1
    XSLV: PowerShares S&P SmallCap Low Volatility Portfolio ETF to Invesco ETF TR II S&P SMLCP Low

    Thanks for any help you can provide.
  • Daniel Adams
    Daniel Adams Member ✭✭
    I'm not sure if it's the broker or Quicken but companies that change their name are impossible to handle. Transcanada Corp changed their name to TC Energy but did not change their stock symbol. Quicken removed "unidentified security", Transcanada, and added TC Energy. every attempt to replace "unidentified security" w/ Transcanada reverts to "unidentified ...." or doubles the quantity of TC Energy in the account. WTF.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    @Daniel Adams
    What securities appear in your Security List (Ctrl-Y)?

    In all likelihood, I would delete any related transactions downloaded from the broker and enter the appropriate transactions manually.  One such option would be the simple "Corporate Name Change" (Enter Transactions button).  You probably need to delete the newer TC Energy security before entering that name change. 

    You might prefer the Corporate Acquisition approach whereby TC Energy would be acquiring Transcanada Corp.  You would probably want to redo the Transcanada ticker - TRP(old), maybe - before assigning the TRP ticker to TC Energy.

    I would likely take the first option.
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    edited June 2019
    Name changes are non-events as long as the ticker does not also change.
    I hold QQQ. Around 6/5/18, its name changed from Powershares to Invesco (as did many other ETFs). All I did in Quicken was change the name of the security.
    Any sell/buy or remove/add transactions sent by a broker are erroneous. They should be deleted and the security renamed.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription (US) on Win10 Pro.
This discussion has been closed.