Moving securities / data set up as single Individual accounts in etrade to one single consolidate

Jonathan

I have changed brokerage accounts from Etrade to Fidelity. I have used quicken for years but have set up all my securities as individual accounts and manually dealt with keeping the accounts updated while at etrade. But now I want to transfer all securities under one Fidelity account with a sweep account, and make sure I keep historical data of activity for each security/mutual fund. How can I achieve this? Windows Quicken Deluxe 2017 user

Tom Young

You should be able to simply transfer all the shares in these "one security" Accounts to your new "all securities" Account.  Quicken will do a series of "Add" transactions in the new Account preserving the cost basis and holding periods of all lots in the "from" Accounts.  The details of the transactions - buys, sells, dividend reinvestments and such - will always reside in the old Accounts.

Jonathan

WOW Thank you Tom. That is relief if that works. I thought I had days of jury- rigging  Quicken ahead of me. Now perhaps only 10 hours . haha.

Jim_Harman

First set up the new account with no securities or cash balance. Then in the old accounts, click on Enter Transactions and pick Shares transferred between accounts to move the securities as Tom describes. If the old account has a cash balance, use Cash transferred out of account to move it to the new account.

In the new account, delete any downloaded Add transactions and/or Placeholders that may be created when setting up online access, because the securities are already in Quicken.

q_lurker

Jim Harman said:

First set up the new account with no securities or cash balance. Then in the old accounts, click on Enter Transactions and pick Shares transferred between accounts to move the securities as Tom describes. If the old account has a cash balance, use Cash transferred out of account to move it to the new account.

In the new account, delete any downloaded Add transactions and/or Placeholders that may be created when setting up online access, because the securities are already in Quicken.

And the step before the first step is to make a backup -- just in case!

Jonathan

Thank you, Jim. I have an existing fidelity account ( the  transfers have already been done from etrade to Fidelity). When I set up a Quicken account for fidelity it searches fideltiy and finds my account and then asks whether I should "add", "link a specific account" or "ignore" ..  I do want to link the fidelity to quicken eventually in order to download transactions  but I have inputting work to do before . If I "add" I see that quicken loads everything. So it appears "ignore" should be the choice? If so, can I link it to fidelity once I've got all the old data entered?

Jonathan

Jim Harman said:

First set up the new account with no securities or cash balance. Then in the old accounts, click on Enter Transactions and pick Shares transferred between accounts to move the securities as Tom describes. If the old account has a cash balance, use Cash transferred out of account to move it to the new account.

In the new account, delete any downloaded Add transactions and/or Placeholders that may be created when setting up online access, because the securities are already in Quicken.

THank you. Yes I always do everytime I use quicken.

Unknown

you should "link" (assuming you already created the "fidelity" account in Quicken) if you wish for Quicken to automatically download future transactions (dividends, buys, sells, etc...).  If you choose "Ignore"; that is fine as well; but you will have chosen to manually enter all future buys/sells/dividends, etc...

Also with regards to the "sweep" account; if all funds (cash remaining) always goes to the "sweep" account; you can just leave that $ amount in the fidelity account knowing that this occurred.  If you are more anal as some of us are; you can create a separate account (bank or investment; whatever you fancy); and actually "sweep" funds to/from that account for your cash transactions.

Rick 

Jonathan

Rick, thanks. I have not set up a quicken fidelity account yet . I don't think I should link it YET cause I see Quicken will automatically download everything immediately from fidelity  since Oct  when all the accounts were transferred to fidelity by a financial manager I hired.  I am just getting around to reconciling everything now so my cost basis is accurate, and  I have historical info for tax purposes, and then I plan to link once I am up to date in reconciling.   I can establish the link with fidelity after I've inputted everything up to date, right? (  And if so,  how do I do that ?    )  does this sound like a plan that Quicken can handle?


And yeah, I kinda like to separate the sweep account from the account with the securities. A habit from the older less efficient days of quicken.....