JPM Chase Investments

I have 2 investment accounts at JPM Chase and several checking and savings accounts.
No issues with check or savings
Both investment accounts have same issue - it downloads transactions but the account balance for neither equals the actual account balance. For one, the difference changes, for the other the difference is constant. For neither can I figure out what causes the difference.
Note these are on the JP Morgan side of the house of JPM Chase.

Answers

  • John_in_NCJohn_in_NC SuperUser ✭✭✭✭✭
    This shouldn't be too hard to figure out.
    1) The first place to check is to look at your Portfolio view for the investment account and check your holdings for both securities and cash held (if any.). See what the totals are there, and compare them to what JP Morgan states. It would hurt to jot this down on paper.
    2) Then, switch to the Transaction view, and scroll to the beginning of the account and look for light gray (placeholder) transactions. These are adjustment transactions for both securities and cash so that your final holdings checked above are correct. Sometimes the Financial Institution reports the wrong amount, so Quicken keeps offsetting your balance incorrectly.
    3) If your holdings in step 1) are all correct, it might be that your price histories are wrong.
    In any case, the above three are a good place to start to see what is off.  
  • John_in_NCJohn_in_NC SuperUser ✭✭✭✭✭
    Also, it might be easier to do the comparison on a weekend so you take updated market values/transx out of the equation. (I.e.quicken has gotten updated price quotes, where as the FI doesn't update the holdings until that midnight. It depends on the FI and how they do this.)
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