Vanguard Transiton to Brokerage

QknConfused Member ✭✭
edited September 2022 in Investing (Windows)
Several problems transitioning 2 accts (Trad and Roth) to Brokerage accounts.
In the first case, transitioning from Trad IRA to Brokerage, I Set Up the new Brokerage Account thru Tools > Account List > AddAccount.
When I downloaded, all shares were "Removed" from the OLD Trad IRA account and the New Brokerage account is empty.
Should I have "Linked" the accounts, rather than "Added" the Brokerage account?
Should I delete the "Removed shares" transaction, delete the empty Brokerage account and start over using "Link"?


  • miklk
    miklk SuperUser, Windows Beta Beta
    If you want to go back to beginning, restore a backup .

    Basically 2 ways to get it correct and retain cost basis (although you may not care in IRA)

    Make a backup before starting just in case doesn't go as planned you can restore it back:

    Easiest: Just use the same account as now:
    Disable Online access in the old accounts via edit account, delete the account number that is in there now. Enable Online access again and link the new account to the Quicken account (Ignore in Quicken for the old accounts if they still show) 

    Harder but more accurate If you want to do as it happened and for your records to match the separate 1099s they will send for old account and new account it is more complicated but not that bad:

    Add the new account in Quicken with online access.
    Use the Shares transferred transaction and move all securities from the old account to the new account. This will put 1 remove shares in old account and an add share in for EACH lot with cost basis in tact in the new account.

    You just need to watch downloaded transactions and delete or match as needed.

    When I did mine, all I had to fix is DELETING the downloaded add shares that went to the new account because the downloaded add shares does not have cost basis and is a duplicate. The add shares will already be there by lots from what we did with the Shares Transferred.

    When done, you can now use normally the new account .

  • QknConfused
    QknConfused Member ✭✭
    My solution, thanks to many others who've asked and answered similar questions about this *~*/!* Vanguard transition to brokerage acct: Answer the transition questions on the Vanguard site. On Quicken, Go to "Tools" > "Account List" > Your Current Account's Name > "Edit."
    1. Deactivate Current Account's Online Services. 2. Select "Reactivate." 3. Select "Do Not Add To Quicken" for all except the account # of the NEW Brokerage Account. 4. Use the Drop Down Arrow to find "LINK to." 5. Select the OLD account in the list which comes up.
    Once you're done, you may wish to update the acct's name. If you may find an entry of "Added Shares" it likely duplicates your acct value. If so, delete the Added Shares entry.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    My solution, thanks to many others who've asked and answered similar questions about this *~*/!* Vanguard transition to brokerage acct: ... 
    In my opinion, that is the cleanest approach to take.  There are other solutions available, but re-setting the existing account to the new brokerage account would be my choice.  
  • BK
    BK Member ✭✭✭✭
    edited October 2020
    Very similar approach with a slight twist in bold - the way I did this couple of years ago if I can remember the details:
    * Deactivated the existing mutual fund account.
    * Went to the Account Details and changed the "Account Number" to the new Brokerage Account Number.
    * Reactivated the account and linked only the new Brokerage account (ignored the old Mutual fund account)
    * Did an update and chose to NOT accept the downloaded transactions that were related to transfers between old & new (removals and adds).
    It was very little effort, worked flawless and the entire history was maintained in the same account.  As if nothing ever changed.
    (make sure you have proper backups first to test)
    Edit: Come to think of it, I didn't deactivate the original account.  I simply changed the Account number to the new one while it was active, and did an "Update Transactions"!
    - QWin Deluxe user since 2010, US subscription on Win11
    - I don't use Cloud Sync, Mobile & Web, Bill Pay/Mgr

  • canoe32
    canoe32 Member ✭✭✭
    edited October 2020
    I converted our two IRAs to the brokerage platform using the method BK mentioned above. I did not deactivate online access, just changed the account number to the new brokerage number, and it worked fine.
    I would, however, recommend doing a OSU on the old account before changing the account number. There may be partial dividends paid into the old account at the time of conversion. These will show up in the new brokerage account in some form, and it helps to know which funds those amounts came from. I used the "Shares Transferred" method for my other accounts, and those had partial dividends as well.
  • ninaz
    ninaz Mac Beta Beta
    edited April 2021
    How do you transfer the old shares to the new account? I updated before I remembered the account change, so I now have the new account and I have hidden the old account. Am I reading this right @miklk, is their a way to transfer the old shares from the old account?
  • CuriousKat
    CuriousKat Member ✭✭
    Thank you BK, that worked perfectly!
This discussion has been closed.