Fidelity Annuity not updating share quantities of recently sold shares

Silver Fox

I have a Fidelity Annuity and for the first time, recently sold partial shares of 2 stocks out of 10 holdings.  This account always downloaded and updated share prices and quantities properly (along with my trusts, IRA's, etc.).  After the sale, the Quicken account transaction downloaded view shows the sale of the two stocks, the cash generated and the taxes withheld properly.  I manually adjusted the cash to show a transfer to my checking account and the same with the taxes to my federal tax withheld account.  The bad news is that total shares for each of the two stocks that I sold remain unchanged as if there was no sale at all.  This causes the total value of the Annuity to be overstated by the number of shares of the sold stocks not being decremented / updating.  This is strange behavior since all other Fidelity accounts work as they should.  Any ideas?

titanrx8

As noted above, first check for any placeholders. Next check to make sure that the stock doesn't exist in your portfolio list more than one time. Check carefully that there aren't multiple listings with similar names that are sharing either the same or multiple tickers and cusips.

If quicken downloaded the transaction as a sale but the name/ticker/cusip varied from the identification of the original 6017 shares then the decrement would not have applied to the proper security.

If there weren't any variances/multiple identities for the security and no placeholder entries then your last resort is to enter a "remove shares" transactions which will adjust the share balance, reduce the total value of that holding and not impact the cash amount.

jacobs

Usually when a purchase or sale in an investment account doesn't change the share balance, it indicates that Quicken has a placeholder transaction in that account. Placeholders are created by Quicken when it doesn't know the basis for one or more of your holdings. Scroll to the beginning of that account and look to see if you have a placeholder transaction (in gray). In some cases, just deleting the placeholder is all you need to do; in other cases, you may have to do more too establish the correct balance and basis for your investments. Read this for more information about placeholders. 

Silver Fox

The only difference I can tell between the Annuity and a traditional brokerage account is that there is no "Core" Money Market account in the Annuity where the sales from the stock fund would be deposited, then there would be a transfer made to the bank account from the Core account.  The sales occur and the transfer is made directly.

Silver Fox

I noticed, upon further analysis, in the sale transaction in Quicken, that the shares sold was correct BUT the Share Balance remained unchanged.  For example, Fidelity shows 5,843 shares and quicken shows 6017, the difference between the two numbers is the correct number of shares sold.  If the Share balance was decremented properly in Quicken my total value for the Annuity would be correct.  Any ideas on how to resolve other than manually adjusting the share balance in Quicken?

titanrx8

As noted above, first check for any placeholders. Next check to make sure that the stock doesn't exist in your portfolio list more than one time. Check carefully that there aren't multiple listings with similar names that are sharing either the same or multiple tickers and cusips.

If quicken downloaded the transaction as a sale but the name/ticker/cusip varied from the identification of the original 6017 shares then the decrement would not have applied to the proper security.

If there weren't any variances/multiple identities for the security and no placeholder entries then your last resort is to enter a "remove shares" transactions which will adjust the share balance, reduce the total value of that holding and not impact the cash amount.

Silver Fox

Thanks to Jacobs and Titanrx8, I learned something important on my first use of the community forum.  The automatic insertion of a "Placeholder" was the problem.  I just deleted it and the shares adjusted properly.  Very helpful....thank you.