What is the best way to handle switching an account from one brokerage to another in Quicken

Mary Gail

When an account is transferred, how do you treat it

Sherlock

If the entire account is moving to a new account of the same type at another brokerage without selling any assets, I suggest you consider deactivating the Online Services of the original account and clearing the original financial institution's name on the General tab (press Ctrl + Shift + E).  When you subsequently set up the Online Services using the new financial institution's name, you should be able to link the account found at the financial institution to the existing account in Quicken.

Jim_Harman

When you use @Sherlock's approach, be on the lookout for Added transactions downloaded from the new brokerage. This will be their way of putting the securities in the new account. Since the securities are already in the account in Quicken, you will not want to accept Added transactions, or delete them if they are already in your transaction list.

A symptom that this has happened is that you will see twice as many shares of each security as you should have. There may also be Placeholders that try to adjust the share balance back to what it should be.

Mary Gail

What is the best way to handle transferring an account to another brokerage in Quicken

Sherlock

If the entire account is moving to a new account of the same type at another brokerage without selling any assets, I suggest you consider deactivating the Online Services of the original account and clearing the original financial institution's name on the General tab (press Ctrl + Shift + E).  When you subsequently set up the Online Services using the new financial institution's name, you should be able to link the account found at the financial institution to the existing account in Quicken.

Jim_Harman

When you use @Sherlock's approach, be on the lookout for Added transactions downloaded from the new brokerage. This will be their way of putting the securities in the new account. Since the securities are already in the account in Quicken, you will not want to accept Added transactions, or delete them if they are already in your transaction list.

A symptom that this has happened is that you will see twice as many shares of each security as you should have. There may also be Placeholders that try to adjust the share balance back to what it should be.