How do I download CASH (including Sweep accounts) from my Brokerage Accounts?

ahcolram

Quicken for Mac: I set up my Brokerage Accounts from First Republic Securities. All were downloaded accurately. However, any CASH or Sweep Accounts (EAGLE BANK SWEEP TIER 15) were not included in the Portfolio that was downloaded. How do I fix this? Otherwise this is a deal killer.

ahcolram

Thanks for your response. I have found the solution. You can just make a entry in Transaction via “Payment/Deposit” and categorizing as “Adjustment” to get the Cash to the correct balance. From then on Cash will be displayed correctly and adjusted via income and expense transactions. The money market account as you note will not be shown or adjusted daily bite the Cash account will in effect take its place.

ahcolram

To be clearer, the Investment Portfolio that was downloaded was correct -- e.g., say that was 25 shares of XYZ Co. stock worth $100,000. Perfect. But the actual Investment Account value is $105,000 as $5,000 is held in a sweep account in the Investment Account (effectively Cash). That was not downloaded. So the actual balance is OFF by $5,000 from what is reported by the Securities Company online.

Quicken Francisco

Hello @ahcolram

Thank you for reaching out on the community and telling us about your issue. I do apologize for the issue you're having. Is the cash in a separate account or is it apart of the account you've listed? I'm wondering here since with direct connect it's the FI who decides what's reported when download are done. I'd may attempt to try changing the account type to see if your downloads might include the information that's missing. You should be able to do so by holding control on the keyboard and clicking on the account. From there you can go to edit and seeing if something else might include the cash as well. 

Once you get a chance let us know if that might help. 

Thanks,

Quicken Francisco

ahcolram

"You should be able to do so by control on the keyboard and clicking on the account. From there you can go to edit and seeing if something else might include the cash as well."

I did this. Nothing showing there.

I do have a Merrill Lynch investment account and the CASH portion downloads work fine and are reflected in my Quicken accounts. The Merrill Lynch excess CASH is invested in "ML BANK DEPOSIT PROGRAM".

The First Republic Securities Account represents the vast majority of my investments. In each case, like Merrill Lynch, any excess CASH is put into similar Bank accounts in this case called "EAGLE BANK SWEEP TIER 15, or TIER 16". I think this is like most securities companies, they use some sort of bank account, not a regular bank like Bank of America, but something like ML: Bank Deposit Program (Merrill Lynch), or Eagle Bank (First Republic).

It works for Merrill Lynch, but not for First Republic Securities Company.

Maybe Quicken can contact First Republic and get this resolved. Otherwise, I'm going to have to cancel my Quicken subscription within 30 days as this is material to my financial accounts and doesn't reflect the true value of my investment accounts due to the lack of including any CASH invested in the Eagle Bank Sweep.

ahcolram

The Merrill Lynch money market funds are being picked up, downloaded and synced by Quicken and they have a description and ticker as follows -- "ML BANK DEPOSIT PROGRAM" (name) and "990286916".

I looked at the description and ticker symbols for these First Republic Bank -- i.e., Eagle Bank Sweep -- Accounts that aren't being picked up by Quicken and they are "Money Market Fund FDIC EB16" (name) and "FDICEB16" (ticker) and "Money Market Fund FDIC EB15" and "FDICEB15". I suppose the "15 and "16" are different tranches, years, or whatever, but they are simply just money market accounts, presumably registered with the SEC. Obviously the "EB" part of these tickers stands for "Eagle Bank".

Is it possible for someone at Quicken to contact First Republic Securities to get the appropriate information to include in whatever database Quicken is using to sync securities so these money market funds from First Republic will start to be downloaded and updated by Quicken?

Quicken Francisco

@ahcolram

Thanks for the update. As it goes for downloading into Quicken we aren't able to make any changes on the download itself since we're connecting to their servers. You'd need to contact the ban to explain the situation on what exactly is happening for them to have it be reported properly. I do apologize for any inconvenience this has caused.

Thanks,
Quicken Francisco

ahcolram

Thanks for your response. I have found the solution. You can just make a entry in Transaction via “Payment/Deposit” and categorizing as “Adjustment” to get the Cash to the correct balance. From then on Cash will be displayed correctly and adjusted via income and expense transactions. The money market account as you note will not be shown or adjusted daily bite the Cash account will in effect take its place.

Quicken Francisco

@ahcolram

I'm glad that you were able to figure out how to get it adjusted into your register! If you have any other questions feel free to post on an existing thread or make your own! 

Thanks,
Quicken Francisco