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Unable to download money market fund in a brokerage investment account

All other investments come through from brokerage accounts.
Quicken does not see or download from my brokerage account a money market account IPPXX.
  This keeps my asset balance always wrong.
Is there a fix?

Best Answer

Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    What brokerage? Sometimes the balance in the settlement account is shown as Cash in your investing account
    QWin Premier subscription
  • GeoffG
    GeoffG SuperUser ✭✭✭✭✭
    It would help if you provide the specific broker name. If your broker does not support download/updates to Quicken, there is little Quicken can do to resolve. Your option then would be to manually update the account or move to a supported broker.
    user since '92 | Quicken Windows Premier - Subscription | Windows 10 Pro version 20H2
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    The financial institution controls which accounts we are able to download into Quicken.  If you haven’t already, you may want to review: https://www.quicken.com/support/how-quicken-connects-your-bank
  • markus1957
    markus1957 SuperUser, Windows Beta Beta
    This is an issue that varies by Investment FI. Vanguard mutual fund accounts download money market funds as a holding.  Morgan Stanley is a hybrid; it downloads individual transactions for MMF's but does not report them as a holding. NMIS via Pershing ignores them totally, not even reporting them as cash.

    The fact that Vanguard gets it right indicates that it is the FI at the root of the problem although this KB article makes me wonder.  I don't recall ever being offered this choice nor do I know of a way to reverse it.  https://www.quicken.com/support/quicken-cash-balance-no-longer-matches-brokerages-cash-balance
  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    Quicken 2020 Deluxe - Subscription - Windows 10
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    @Treeclimb55 The last 2 characters of the symbol, XX, is sufficient to indicate that it's a MMF.
    WHERE the OP holds the fund is going to determine what get's downloaded ... and how.
    So PLEASE specify the brokerage/fund-company where you hold this account, so that we can further assist you.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • FI (financial institution) is Morgan Stanley.  I have yet to get a proper download of this asset
  • I will try the Morgan Stanley Tech support......though I shudder at the prospect I will see how it goes and post the response
  • jim_harman got the problem right.  I do not post the asset but do see transactions in and out of the fund....its as though a bank account has a million dollars but every statement only shows the $10 deposit or the $30 withdrawals.
  • markus1957
    markus1957 SuperUser, Windows Beta Beta
    How did your contact with MS tech support go?

    You can turn off the Preference setting to compare MS holdings after each download. At least then it would be less annoying. In fact you wouldn't even notice it.

    MS is making baby steps at getting this corrected. It took a while but they have acknowledged it is their issue (or likely whomever they hire to build the OFX downloads), the cash position reported is now correct. Last thing to get right is not to exclude MMF's from the holdings table. 

    This is a lingering mistake from when MS tried switching from reporting MMF's as part of the cash position to a regular mutual fund holding.  The OFX specification allows for 3 ways to handle MMF's; MS is caught somewhere in between trying to migrate from one to another.  Vanguard is the only investment FI that I know handles MMF's 100% compliant with the OFX spec in Quicken downloads.
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