Custom Asset Classes

Question

I have many Real Estate Investment Trusts (REITs) that I hold in my portfolio, and would like it if there was an asset class called "REIT" or "hard assets" or "commodity" etc.  User defined (custom) asset class would be a great option for Quicken to add as a functionality for those users that are more affluent investors and want to view their portfolios in a certain way.  
 Currently I have to export my portfolio to MS Excel and then manipulate the file to get it into the format that I wish my portfolio to be viewed.

colleenkcoleman · Answer

There are a number of rebalancing software products in the marketplace, most used by FIAs vs. end-users (eg, iRebal, tRx, others).  There is a freeware version of iRebal for TDAmeritrade users.  Has anyone developed an extract to this product?  Or has anyone developed an XLS rebalancing tool?

AFToothDoc · Answer

I feel your pain. I have suggested and have been hoping for this feature for years. Unfortunately, for we veterans and advanced users, Quicken Inc. appears lately to be placing most of the new features or improvements emphasis on getting new users on-board with Quicken. On the bright side, I am encouraged by more time being spent on stamping out bugs. I have noticed Quicken is running with more stability and less crashes than in the past.

snowmp · Answer

Sigh. This would be the single most helpful thing that could be added to Quicken IMO. You get to work with exactly 7 asset classes and you have to have an outside translation table (it appears most of us use MS Excel) for asset classes other than the 7 provided (e.g., I use "Other" for REITs). I would happily give up Quicken functionality I never use (e.g., Property & Debt, Add-On Services, Mobile & Web) to have a dozen or so user-defined asset classes available in rebalancing my portfolio. Even better would be an option to define subclasses: for example, corporate bonds, municipal bonds, and treasuries within "Domestic Bonds". If you actually practice portfolio rebalancing using Quicken, you quickly find that you need an outside tool to do it properly.