Cannot download transaction from Pershing (broker)

GA Hiker

After entering ID and PW, Quicken tells me, "Pershing LLC reports that there is a new page or popup on their website that requires your attention... Log in to their website... Return to Quicken and try again." I log in on Pershing website, there are no popups or issues there, I try on Quicken again, and get the same result.

Boatnmaniac

I noticed there are two different Pershing setup links...one for Pershing LLC and the other for BNY Mellon - Pershing. 

• Both show the same reference website but the underlying connection processes might be different. 
• FIDIR list shows the Pershing LLC link offers only the Express Web Connect connection and this cannot be used for downloading securities investment transactions.
• FIDIR list shows that BNY Mellow - Pershing offers only the Direct Connect connection and this is what is needed for downloading securities investment transactions.
  

Have you tried connecting with the BNY Mellon - Pershing link?

GA Hiker

Thank you for your response.

When I try with BNY Mellon - Pershing I get, "You need login information from BNY Mellon - Pershing in order to have automatic downloads in Quicken."

My connection with Pershing is through a financial advisor firm and when I login to my account at Pershing I must enter a financial organization code along with my user id and password. Of course, Quicken does not provide for entry of that code.

Nevertheless, when I use Pershing LLC (as opposed to BNY Mellon - Pershing), it seems to validate my credentials, says it's searching for my accounts, and then displays the instruction to login to their website to clear some popup or request, which isn't there.

I am not familiar with Express Web Connect versus Direct Connect or how I would direct Quicken to use one or the other. I have tried: (1) Editing my Account Details/Online Services, online setup and (2) opening my Quicken account, clicking on the actions icon (upper right), and clicking on Set up Download. Same results for both.

Boatnmaniac

The FIDIR list identifies which online services are supported by the Financial Institutions (FIs) that support Quicken.  When there is only one online service supported by a FI then there is nothing the user has to do to select a connection method.  The connection method will default to only that one connection method. 

Since Pershing LLC is listed as only supporting Express Web Connect (EWC) that is what Quicken will default to. 

Since BNY Mellow - Pershing is listed as only supporting Direct Connect (DC) that is what Quicken will default to.

The Pershing LLC link will never be able to set up in Quicken for downloading your investment account data because it is not a DC connection method. Pershing acknowledges your UserID and PW entered into Quicken which is logical because you do have an online account with them but it cannot complete the set up because DC is not available so you get the error message.  I am sorry to say that you can try as much as you want but you will never be able to download your investment account data via Quicken from Pershing LLC...unless Pershing LLC changes their contract with Quicken to add DC support.

I suggest you contact your advisor to find out if their contract with Pershing includes Quicken DC service and, if so, ask for instructions on how to proceed with setting that up.  There might be a unique process through BNY Mellon - Pershing or perhaps via another FI name/link than needs to be used.  (This happens quite a bit with retail partner credit cards.  For instance, most of my Citi credit cards can be set up with the CitiCards link but my Sears Master Card, which is issued by Citi, can only be set up with the Sears MC link.  And while many banks allow you to use your online login information to get downloads via EWC, some of these same banks also require unique logins in order to use DC.)

If your advisor says their contract with Pershing does not include Quicken DC, then I think you will have only 2 choices for managing this investment account in Quicken.  In both cases you will need to first set up your investment account in Quicken as an offline manual account.:

• If Pershing LLC allows you to manually download your investments transactions via QIF, CSV or Excel format, you can try using a program like ImportQIF from http://www.quicknperlwiz.com/ to convert the file into a QIF file that Quicken can import.  It's a freeware program developed by one of the long-time contributors to this Community.  I have not used it myself but others has said it works pretty well.
• Manually enter and manage all your transactions.
  

GA Hiker

Thank you, again! I have contacted my advisor and will see where that leads. I did see that I can download my transactions into an Excel file. Perhaps I will download the ImportQIF program to convert that into a QIF file for import into Quicken. Then I can see how the imported transactions work. Last week I downloaded transactions from my Fidelity account into Quicken and had to tweak a couple of them after download. My Pershing transactions are more complex. Up to now I have been entering all transactions manually. Thank you so much for the detailed explanations.

Boatnmaniac

You are quite welcome.  I hope it works out well for you.

FYI:  I have Fidelity accounts, too, and it usually works quite well for me.  But it was quite a learning curve before everything was set up properly so that downloads of the Core Accounts data occur properly.  The CA is a Money Market Fund and is identified by two asterisks on the Positions tab at Fidelity.com.  The default CA MMF is SPAXX** but there are a few other options available. 

The important thing to do so the Core Account data downloads properly (most of the time) into Quicken is to make sure that in your online account the dividends for that Core Account are not set up to Reinvest.  It really doesn't change anything at Fidelity since all cash will end up being invested into that Core Account MMF either way.  But it makes a big difference in how Fidelity downloads that into Quicken.  Bottom line is that all Cash transactions at Fidelity.com you want to have downloaded as Cash into Quicken....and the CA MMF needs to be shown in Quicken as Cash, not as a MMF or your Fidelity account in Quicken will get out of sync with what is shown at Fidelity.com and you'll be pulling your hair out.

Just a suggestion to keep a close eye on it.  If you see any transactions or holdings of your CA MMF in Quicken come back here to Community and I or someone else can help you address it.

GA Hiker

The Fidelity CA MMF interest was one of the transaction tweaks I had to make. I have my Quicken Fidelity account (and Pershing account) set up with a separate cash account. The CA interest transaction downloaded into the investment account and I had to move it to the cash account. I just changed the CA option NOT to reinvest and will see if that helps. Thanks again.

Boatnmaniac

OK, you did the right thing in changing that transaction and changing the CA to not reinvest.  It drives me a bit nuts that Fidelity says on their website that they will download the CA value as Cash but then they also download the CA shares transactions.  That's just all kinds of wrong.