CC-501 error - Unable to add Wells Fargo Advisors IRA account

WalkTightRope

Using Quicken Windows Home, Business & Rental Property subscription product. Waited for 24 hours but still not able to add my child's IRA account that was opened with Wells Fargo Advisors about 4 months ago. All other EXISTING Wells Fargo Bank & Advisors accounts seems to be connecting/downloading fine in Quicken. Keep getting "Oops...CC-501" error. Using Quicken for 20 years. Is it possible to get dedicated tech support without paying more money to Quicken or is the free "community" support the only support available?

Boatnmaniac

@WalkTightRope - Do you have account access to your child's IRA account set up with Wells Fargo Advisors?  If not, you will probably need to find out from Wells Fargo Advisors if you can get that set up in their system.  Otherwise, you will need to do the account setup in Quicken using your child's online account login credentials.

Assuming you are attempting to do the Quicken setup using the correct login credentials, it threw me a bit that you got a CC-501 error code.  CC-XXX error codes typically indicate an Express Web Connect (EWC) issue.  But investment companies cannot download brokerage account data via EWC.  Instead, Direct Connect (DC) is needed.

So, I attempted to then setup Wells Fargo Advisors in Quicken and clicked on the Advanced Options link.  I was taken to a screen to select whether to use Simple Investing or Complete Investing (it was defaulted to Complete Investing) and then I clicked on Next which brought up the account connection options:   EWC, DC and Web Connect (WC).  I noticed that the connection method was defaulted to EWC.  I think it should have been defaulted to DC, instead.

You might want to try following the setup process I mentioned above and when you get to the account connection options, change the connection option to Direct Connect.

Does any of this resolve your connection setup issue?

WalkTightRope

Looks like the default EWC method behind the scenes was the culprit. After I changed the default to DC method, it worked fine without the CC-501 error. Thanks for your help!

Ps56k2

WalkTightRope said: All other EXISTING Wells Fargo Bank & Advisors accounts seems to be connecting/downloading fine in Quicken.

What exact WF name are you using for the Quicken Accounts that work ?  There are like a dozen or so Quicken WF listings.
Are the names different for your Bank vs Advisors accts ?

What exact WF name are you using for the Quicken account that is NOT working ?

[EDIT] - also updated topic title to better reflect actual Q&A

WalkTightRope

1. What exact WF name are you using for the Quicken Accounts that work ? Answer: Wells Fargo Bank or Advisors depending on type of account. The other "dozen or so Quicken WF listings" are not applicable to my setup.
2. Are the names different for your Bank vs Advisors accts ? Answer: Yes; Wells Fargo Bank for Checking/Savings accounts and Wells Fargo Advisors for investment accounts.
3. What exact WF name are you using for the Quicken account that is NOT working ? Answer: Wells Fargo Advisors since it is an IRA account that I'm trying to add.

Have been Quicken desktop for Windows for 20+ years but this CC-501 error is new to me.

Boatnmaniac

@WalkTightRope - Do you have account access to your child's IRA account set up with Wells Fargo Advisors?  If not, you will probably need to find out from Wells Fargo Advisors if you can get that set up in their system.  Otherwise, you will need to do the account setup in Quicken using your child's online account login credentials.

Assuming you are attempting to do the Quicken setup using the correct login credentials, it threw me a bit that you got a CC-501 error code.  CC-XXX error codes typically indicate an Express Web Connect (EWC) issue.  But investment companies cannot download brokerage account data via EWC.  Instead, Direct Connect (DC) is needed.

So, I attempted to then setup Wells Fargo Advisors in Quicken and clicked on the Advanced Options link.  I was taken to a screen to select whether to use Simple Investing or Complete Investing (it was defaulted to Complete Investing) and then I clicked on Next which brought up the account connection options:   EWC, DC and Web Connect (WC).  I noticed that the connection method was defaulted to EWC.  I think it should have been defaulted to DC, instead.

You might want to try following the setup process I mentioned above and when you get to the account connection options, change the connection option to Direct Connect.

Does any of this resolve your connection setup issue?

WalkTightRope

Looks like the default EWC method behind the scenes was the culprit. After I changed the default to DC method, it worked fine without the CC-501 error. Thanks for your help!

Boatnmaniac

You are welcome.  I'm glad the issue is resolved.

Ps56k2

Just looking at the Quicken data - and as mentioned by @Boatnmaniac - the 3 choices and not sure why DC didn't default

12748    12748    12748    Wells Fargo Advisors    https://www.wellsfargoadvisors.com/    1-877-879-2495    https://www.wellsfargoadvisors.com/online-access/signon.htm    ACTIVE   
INVESTMENT,ACCOUNTINFO&DIRECT   
INVESTMENT&WEB-CONNECT        
INVESTMENT&EXP-WEB-CONNECT