QWin 2017 - moving stocks between investment accounts

Paul Wilson

I opened a second account with the same investment firm and moved some of the stocks I have in the first account into the second account. I now have two accounts with the same stocks and the same value and my net worth has doubled. Why weren't the stocks removed from the list of holdings I have in the old account and not added to the holding in the new account where I moved them?

UKR

IMHO, the best method of making this transfer happen correctly in Quicken is to do this:

• Create a backup of your Quicken data file
• Add the new account as a "manual" investment account, not connected to the bank for downloading (yet) with a $0.00 Opening Balance and no securities.
• In the old account execute the transaction "Shares transferred between accounts" to transfer the holdings of your securities, one selected security at a time, from the old account to the new account. Repeat until all securities have been transferred. This will generate "Shares removed" transactions in the old account. It will also generate a bunch of "Shares added" transactions in the new account, with today's date, but with correct holdings information (original purchase date, # shares, price, etc) in the background. So, don't worry if Quicken keeps flickering the screen and/or makes a lot of ka-ching sounds while doing so.
• After the new account has been loaded and after the brokerage has performed your requested share transfers, activate the account for downloading. Accept the downloaded transactions or, when in doubt, delete them to avoid creating duplicate transactions.
• Your holdings in both accounts should match what you have in Quicken.