Investment accounts changed

Michael Haas

Recently my financial advisor changed the company with whom he conducts business.  My accounts have all transferred from Signator to Cambridge.  The online reporting continues to be done through a company called Wealthscape, but my account numbers and passwords have changed.  What I have done so far was to create the new accounts (each new account perfectly matches an old account) and began downloading transactions into Quicken.  But now I have two sets of accounts for the these investments and my balances are therefor roughly doubled.  I can't see how to transfer the assets from my old accounts into their matching new accounts on Quicken.  

Jim_Harman

Since you have already set up new accounts, the best way to handle this is to

-- backup first just in case

-- In each new account, find and delete the downloaded transactions (probably Added transactions) that put the securities in the new account. Don't delete any transactions (dividends or whatever) that were downloaded after the account was set up.

-- go to each old account, click on Enter Transactions and Shares transferred between accounts

-- Set the transfer date and the destination account, and select All securities to transfer all the assets to the corresponding new account. This will generate Removed transactions in the old account and a whole slew of Added transactions in the new account. Be patient, this may take some time.

-- If the old account has a cash balance, transfer that as well.