Shares transferred between accounts

Gary R

I have accounts with Fidelity and Vanguard. I'm having a company manage my portfolio and they are going to transfer in kind all my four Vanguard accounts into Fidelity. I'm not sure how these transactions will be downloaded from Quicken next week when the transfer happens.

splasher

I just did this myself and in the end I ignored what was downloaded and did a "Shares Transferred between Accounts".

The brokerages will undoubtedly generate a Remove and an Add for each security with no detail of the lots involved.

With the Shares Transferred transaction, there will be a single remove for each security and a series of Adds for each lot in the original account created in the receiving account.  Afterwards, to make sure that everything was correct, when the brokerage finalized the records of the basis in each new lot, I made sure that Quicken was in agreement with the brokerage.

Gary R

Splasher
Do you recommend doing the "shares transferred between accounts (All) before doing the one step update with the brokerage.

splasher

I would do the OSU first to get any last minute changes, but you will be deleting anything related to the move.
The VERY FIRST thing you do is make a Quicken Backup before you do anything related to the move.

Gary R

Great--Thank you