Security name & CUSIP change - Symbol the same - HOW TO FIX?

Marketing Guru

OK I don't know how to recover from this. PCY (Powershares Emerging Markets Bond Fond) has become Invesco EMBF. Along with the name change the CUSIP ID changed as well but the symbol (PCY) stayed the same. I didn't realize this and accepted all downloaded transactions for the past year in my brokerage account. This essentially created TWO securities with the new histories. The brokerage also issued a transaction called Mandatory name change which removed securities under the old name and replaced it with the new one. Now I have double the number of shares under the old name and a negative balance under the new CUSIP ID. How do I fix this? And how do I make it all work going forward? I have 4 accounts affected by this.

Sherlock

Normally, to change a security's name all we need to do is edit the security's name on the Edit Security Details window.  There is a wizard that will do this for us and will add a reminder of the event in a register.   And, normally, to reset a CUSIP number associated with a security, we uncheck Matched with online security on the Edit Security Details window and the next time Quicken attempt to match an unassigned CUSIP number, the security will be available to be selected.

Now, I suggest you delete the Removed and Added transactions that were introduced as part of the Mandatory name change, change all of the transactions using the new security to use the original security, delete the new security, change the name and uncheck Matched with online security on the Edit Security Details window of the original security.  You'll also want to remove any of the placeholder transactions you may have accepted.  Note:  Before making any significant changes to your data file, always save a data file backup (press Ctrl + B).