How do I rollover a mutual fund from one account to another with the same ticker symbol?

golferdudedraw
golferdudedraw Quicken Windows 2017 Member ✭✭
in Investing (Windows)
:)
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  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭
    A simple "Shares Transferred Between Accounts" should do the trick.  You'll have a "Remove" action over in the "from" Account and a series of "Added" actions over in the "to" Account.  Each Add represents a share lot and the lots will have the correct cost basis and holding periods.  The original transactions will remain in the old Account.
  • golferdudedraw
    golferdudedraw Quicken Windows 2017 Member ✭✭
    Well, I have done that but what happens is that you have both mutual funds in the TO account each with different number of shares. I want to combine both into just one mutual fund in the TO account.
  • Sherlock
    Sherlock Quicken Windows Subscription Member ✭✭✭✭
    It sounds like you have been using distinct names for the same security.  If you only want to correct the name in the TO account you could use the Mutual Fund Conversion wizard.
  • Ps56k2
    Ps56k2 Quicken Windows Subscription Alumni ✭✭✭✭
    golferdudedraw said:
    ...... you have both mutual funds in the TO account each with different number of shares. I want to combine both into just one mutual fund in the TO account.
    How about you explain what the situation is, vs us just guessing....
    And what BOTH mutual funds - your topic just mentioned one mutual fund "moving" from one account to another...
    BTW - what transactions happened in the real world to support this "moving"
    :)  <<--- great original description of question
  • golferdudedraw
    golferdudedraw Quicken Windows 2017 Member ✭✭
    To your point about what precipitated this move from one account to another was a rollover requirement from a non prototype employer plan. I retired so the plan required a rollover into my IRA. I had FSKAX in my IRA as well as the non prototype plan. The Share Transfer Between Accounts does indeed transfer FSKAX from my employer plan to my IRA. I now have two FSKAX mutual funds in the IRA with different share amounts. In reading other posts, it was suggested that I manually reinvest shares in the account with the fewest transactions into the other. If that is the best solution, I will do that and call it day.
  • volvogirl
    volvogirl Quicken Windows Other SuperUser ✭✭✭✭✭
    What is a non prototype plan?  A 401K or 457?  And they actually moved the shares? They didn't just transfer the money?  Usually it would be a regular sell and buy.

    I'm staying on Quicken 2013 Premier for Windows.

  • Ps56k2
    Ps56k2 Quicken Windows Subscription Alumni ✭✭✭✭
    hmmm...

    An Investment-Only Retirement Account is also known as the Fidelity Non-Prototype Account. This brokerage account is for small businesses that have qualified plans for which they would like to expand the investment options to include offerings from Fidelity.


  • Ps56k2
    Ps56k2 Quicken Windows Subscription Alumni ✭✭✭✭
    edited October 2019
    golferdudedraw said:. I now have two FSKAX mutual funds in the IRA with different share amounts.
    wow - I have not used the Transfer Shares - but might have to test a scenario to see how Quickens handles the "transfer" into an account with the same ticker/security and WHY it doesn't just add the shares and representative lots and cost basis ?
    BTW - I recently had a transaction at Schwab that resulted in TWO entries for the Pimco Active Bond security - BOND - it turned out, when I viewed my portfolio on Schwab, that the security had a margin holding period of 30 days.  I put a Comment on my Quicken acct, and after 30 days I looked, and it was all combined and not in two separate entries.
  • golferdudedraw
    golferdudedraw Quicken Windows 2017 Member ✭✭
    Here was my resolution to a rollover problem with mutual funds with identical ticker names (it’s not uncommon to have various retirement/JTROS accounts with identical securities in each). If you use “Shares Transferred Between Accounts” you then have two mutual funds in the TO account with differing share amounts. As a work around, I went to the destination account for the rollover and did a “Mutual Fund Conversion” action to the mutual fund to simply increase the shares to the number of the combined accounts. Then I went to the account I wanted to rollover into another and simply one by one deleted the shares purchased historically. You then can either delete the account or hide it.
  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited October 2019
    Deleting the historical purchases was not necessary. Once the balance in the old account is down to zero and there are no longer any shares held there because they have been transferred out, you can simply disable onine services for the old account and hide it. After all, that is what happened in real life.

    If you want to see your investment performance for a period that spans the transfer date, you should include both the old and new accounts in the analysis.


    QWin Premier subscription
  • golferdudedraw
    golferdudedraw Quicken Windows 2017 Member ✭✭
    When I used the Mutual Fund Conversion in the TO account, the mutual fund in the intended account to be be rolled over with the same ticker remained there. That is why I had to return to that account and delete the individual lots. Quicken should have a conversion tool that in a rollover scenario, when two identical mutual funds (or individual securities) are now in the same account to be integrated together.
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