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Quicken miscatagorizes an imported Wealthfront QFX file

I have 2 accounts with Wealthfront. As Quicken does not have direct access to downloading Wealthfront's data, I need to import a QFX file. For my investment account it works well enough. However I am unable to import data from my Wealthfront SAVINGS account as Quicken will only allow me to link the QFX file to an investment-type account, but will not give me the option to link the QFX file to a banking/savings-type account. Any thoughts how to fix this?

Best Answer

Answers

  • Greg_the_Geek
    Greg_the_Geek SuperUser, Windows Beta ✭✭✭✭✭
    You need to contact Wealthfront as they only support investment-type accounts through Web Connect. It's the FI that decides what to support, not Quicken.
    Quicken Subscription HBRP - Windows 10
  • SPrager
    SPrager Member ✭✭
    Greg, thank you for the quick reply. However I am still confused.

    Wealthfront clearly lets me "Export to Quicken" a CASH ACCOUNT. This is not an investment account but an FDIC insured bank account. However when I try to import this file, Quicken does not give me the option to link this QIF file to an existing cash/savings account.

    If i understand what you are saying, there is something on Wealthfront's end that incorrectly defines the QIF file as an investment account so I cannot link it to a cash account? And it is not that Quicken just assumes all files from Wealthfront would be automatically investment accounts?
  • SPrager
    SPrager Member ✭✭
    Greg,

    Again thank you for your time here. I apologize in my difficulty understanding where the problem lies as I'm not a financial or Quicken expert. All I see is that I have a cash savings account QFX that Quicken prevents me from linking to a cash savings account.

    Wealthfront DOES offer bank accounts. They have a high-interest FDIC insured cash savings account that is completely separate from their investment arm. Wealthfront has offered and highly promoted their banking for almost a year. https://www.wealthfront.com/cash. The cash QFX is a different download from the investment QFX, and is clearly labeled so on their download page.

    It would appear the FIDIR.TXT is outdated. Is this something that needs to be corrected on Quicken's side? Or Wealthfront's? I'm confused.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    "Wealthfront DOES offer bank accounts. "  Immaterial.
    They don't make them available for download into QMac. 
    ENTIRELY Wealthfront's decision.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • SPrager
    SPrager Member ✭✭
    NotACPA, I understand Wealthfront does not allow downloads directly into QMac. My question is specific to the QFX file that Wealthfront DOES generate specifically for Quicken. These files are available and QMac reads them without issue.

    I am having trouble understanding why Quicken is preventing me from assigning a cash account QFX to a cash account.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Re-read Greg_the_Geek's message as to why.  ENTIRELY Wealthfront's decision.
    AND, it's entirely possible that they support Banking accounts in QWin, but not QMac.
    AGAIN, their decision, not Q's.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • SPrager
    SPrager Member ✭✭
    NotACPA. Will do thanks.
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