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Fidelity accounts incorrect

janrey1234

For at least 6 months I have been having trouble with my Fidelity IRA accounts. The balances are always way off after downloading. Last time I was able to delete the accounts and redownload getting correct figures. Now that doesn’t work nor does setting up a separate file. I have resorted to putting them in manually and having to login to my account to update but having several accounts this is time consuming. Something changed. I really don’t know if it is when I updated to the new version but this never happened with the previous CD versions.

I have had quicken for quite some time and my accounts were always accurate.

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Frankx

Hi @janrey1234

Sorry to hear that you are having downloading issues with Quicken.

How often do you download to your Fidelity accounts? If you don't download fairly regularly, that can cause you to not be able to download the older transactions.

Which versions of both Quicken and Windows are you running?

Get back to me and we'll go from there.

Frankx

janrey1234

It has nothing to do with downloading or not downloading older data, the balances are way over what is really there. Granted, I would love them to be correct but they are not and mess up my financial reports. Every other account is correct but Fidelity, and is still not correct even if I create a new file and add only these accounts. The last I downloaded was Mid December when I had to “fix” the issue. Downloaded today and despite just a few transactions again the balances were way off and back to what they were prior to mid December. I am running the latest Quicken which in fact updated prior to opening and Windows 7. For now I will manually update when required as it is the balances I need not the transactions. The weird thing is I have another Fidelity account that has different sign on credentials and that one is correct but the value is also much lower.

Frankx

Hi again @janey1234,

Sorry if I incorrectly interpreted what you originally posted.

So, you now seem to be saying that the account balances have greater value (after downloading transactions) than they actually have. And since you have - in the past - been able to correct the account balances, could you tell me what you've done "to fix the issue(s)? Is the problem that there are transactions downloaded that don't belong in your account, or does the problem relate to the value of the investments in the account, or is it something else?

It is difficult to try and help folks without more information on exactly what is happening to the account. Based on what you've posted so far, all I know is that you'd likely be better off not downloading data, since - as you've said - you continually have to correct the data downloaded.

Frankx

janrey1234

Hi Frank. I first tried deleting all transactions that downloaded. Balances didn’t change significantly. I then deleted all accounts for Fidelity that were incorrect and put them in again and downloaded. Still incorrect. I then created a new file specifically for only Fidelity and downloaded. Still balances were incorrect and still way over what they should be. I don’t know if it is Quicken or an issue with data being sent from Fidelity but it is the only accounts with this problem. My banks and Schwabb accounts are fine. I have Schwabb in a separate file and only download that periodically with a balance only non downloading account in my main accounts.

Yes. That is what I am currently left to do. Since I only need the numbers periodically and have to do other financial accounts manually as well it will work.

janrey1234

The first time I believe I created a whole new file with all my accounts and it worked but I am not willing t do that again as I can only download 6 months of data.

janrey1234

I figured out what is happening. FAGIX is reporting price incorrectly. The price should be 10.80 but is being reported as 13.66. The question is, where is this price coming from? Is it coming from Fidelity or is Quicken getting the price elsewhere?

janrey1234

I should note when I look at the transactions the price is quoted correctly but when I do a view of FAGIX it is wrong.

janrey1234

It is now appearing to download correct share price after downloading the price at $13.66 then $1. I will watch it for incorrect t share prices

NotACPA

Try doing TOOLS, Security List, clicking on the specific security, click MORE and then "Edit Price History".

Are there any future dated prices therein? Are any of the prices $1?

You can safely delete any incorrect prices, and then see if that helped.

janrey1234

Everything is working correctly now. I have downloaded after deleting one account repeatedly and prices and balances are correct

michael.lebiedzi

I had the same problem with Fidelity account balances. It seems that Quicken is downloading the wrong securities prices. I found this to be the case on several funds. Also, it's downloading prices for a day that the market is closed. For example,

For FNRCX, it download a price of 39.14 on Saturday 1/9/2021, not a trading day. There should be no NAV for this day.

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Chris_QPW

michael.lebiedzi said:

I had the same problem with Fidelity account balances. It seems that Quicken is downloading the wrong securities prices. I found this to be the case on several funds. Also, it's downloading prices for a day that the market is closed. For example,

For FNRCX, it download a price of 39.14 on Saturday 1/9/2021, not a trading day. There should be no NAV for this day.

It isn't Quicken that is doing this. It is Fidelity and a few other financial institutions.

If you look at the OFX log (Help -> Log Files -> OFX Log) and look for FNRCX you will find an entry like this (used my security as an example):
<TICKER>FSCRX<UNITPRICE>24.9700000<DTASOF>20210109033008.000[-5:EST]
2021-01-01 03:30:08 (AM)

In other words Fidelity doesn't update their prices that they send to Quicken until the next day (very early in the morning), and instead of using the day of the close (Friday 1/08) then use the day that they updated it. Technically that is "correct" in the sense that it what the price would be for a mutual fund early on the next day before the market opens (or on Saturday in this case), but of course it isn't what people expect.

It is something that the Quicken developers have to "program around".

Note Quicken gets its prices from three sources:

Manual entry.
The broker in the data download with the transactions.
The third party quote service. And the third party quote service isn't sending any prices when the market is closed.

And a note to anyone getting a price of $1 for a security on a market close if using the "Simple Investing" mode on their accounts. This problem is "known" and (most likely related to the above since it only happens for mutual funds at certain financial institutions like Fidelity) and they are working on it. See this thread:
https://community.quicken.com/discussion/comment/20144254

janrey1234

That explains the $ because I had used simple in error when trying to figure this out. At one point I manually changed the price so that may have fixed the error but this error is different than sending the next mornings share price as it was no where near the share price ever. I looked at the price history and nothing stood out. I just searched the log file and all prices found were correct. I will keep an eye out.