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How to handle new brokerage account in Quicken?

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This discussion was created from comments split from: How do I transfer corporate bonds from one account to another.

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mkitchens57

I have a brokerage account from company X. I just opened a new account from company Z. Do I rename, change account nr etc in quicken or do I need to create a new account in quicken.
Thanks
Mike

NotACPA

Did you move EVERYTHING from x to z? OR, at any point, do both X and Z have securities in them?

BTW, it would be helpful if you'd name the actual brokerage firms. Doing so wouldn't compromise your identity in any way.

q_lurker

mkitchens57 said:

I have a brokerage account from company X. I just opened a new account from company Z. Do I rename, change account nr etc in quicken or do I need to create a new account in quicken.
Thanks
Mike

IMO, as long as you are keeping good track of the transfer process and it proceeds in a timely fashion, you can change the account in Quicken from old to the new. If this involves downloading transactions and holdings, the changeover in Quicken will involve disabling and re-enabling online connectivity to the brokerage.

If you go that route, be careful with the downloads from the new brokerage as they will likely involve Add Share transactions that will not be necessary.