Quicken can't find my Unit Investment Trusts - FBYHNX - FLFXOX - FXMUNX

TJennings

I have the symbols for these mutual funds - got them from my advisor. But when I go to enter them, Quicken can't find the security. I have 4 instances. This is the first time I've entered them, I'm not getting any error messages. I can find the securities on MarketWatch and elsewhere, but Quicken doesn't know anything about them. Help?

jacobs

It would help if you shared the symbols and the securities; we can't guess at the cause without knowing what you're trying to find.

TJennings

FBYHNX FT Value Line
FLFXOX FT Diversified Fixed
FXMUNX FT DSIP

Ps56k2

Well.... if you can't find them using Yahoo Finance - can't - then Quicken is going to probably not find them either

https://finance.yahoo.com/quote/AAPL/

TJennings

But I found them elsewhere, like Marketwatch. And the NASDAQ site.

And, uhhh, Yahoo Finance.

Ps56k2

Guess I don't consider that valuable - a mutual fund pricing from over a month ago - today is April 24 - with no other data -

(FBYHNX)

Nasdaq - Nasdaq Delayed Price. Currency in USD

Add to watchlist

10.23-0.03 (-0.33%)

At close: March 11 8:01PM EST

TJennings

It’s irrelevant if you think it’s valuable. A chunk of my inheritance has been invested there by my wealth manager, so I’d like to track it, and Quicken can’t find it. I’m not following as a hobby.

Ps56k2

Well, looks like they only price it out maybe every quarter - and there is no historical data to review -

So guess you will need to spend 15 mins every quarter to manually define and update your wealth portfolio

https://finance.yahoo.com/quote/FBYHNX
https://finance.yahoo.com/quote/FLFXOX
https://finance.yahoo.com/quote/FXMUNX

NotACPA

What ARE those funds.  The Yahoo site doesn't even provide a name for them ... and searching at Fidelity Investments came back empty when I looked for those symbols.  Also, a 6 character fund symbol is unusual.  Mostly, funds have 5 characters as the symbol.  Are these non-US and non-CDN funds?

TJennings

They are UITs. US.

TJennings

I’ve found all of them on Marketwatch and Yahoo Finance. They exist.

TJennings

Coming up on NASDAQ as mutual funds.

Ps56k2

TJennings said:  A chunk of my inheritance has been invested there by my wealth manager, so I’d like to track it, and Quicken can’t find it. I’m not following as a hobby.

Well..... since none of the usual financial websites - including MarketWatch -
has any information, details, history, or even a full name and description - I think we are all done here....

And most of us know they are "mutual funds" as the symbol ends with an "x" - so, not really a hobby...

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

TJennings

I think that’s best. I’ll contact Quicken directly on Monday, not worry about help from the community.

Ps56k2

TJennings said: They are UITs. US.

https://www.investopedia.com/terms/u/uit.asp

A unit investment trust (UIT) is a U.S. financial company that buys or holds a group of securities, such as stocks or bonds, and makes them available to investors as redeemable units.

• Like open-ended mutual funds, UITs are bought and sold directly from the company that issues them, although sometimes they can be bought on the secondary market; like closed-end funds, UITs are issued via initial public offering (IPO). 
• Unlike mutual funds, UITs have a stated expiration date based on what investments are held in its portfolio; when the portfolio terminates, investors get their cut of the UIT's net assets.
• Also unlike mutual funds, UITs aren't actively-traded, meaning securities aren't bought or sold unless there's a change in the underlying investment.

TJennings

Thank you very much for that. Very enlightening. I look forward to deep diving into that.

TJennings

Some of the UITs are coming up when adding the security in Q. Some do not. That said, despite my financial background, investing stuff is out of my wheelhouse, which is why I have an advisor. He’s been taking care of my daughter for 14 years. She’s a paralegal in a legal group that does estate law, and this guy works for everyone in the office, including the CEO. I knew my limitations and went with my daughter’s guy. :-)

Chris_QPW

One thing I don't see in any of this discussion is what financial institution are you downloading from?

The reason why I ask because for the situations where there is a private fund or investment where there's no symbol what typically happens is that security gets downloaded and added automatically and the price comes from the information that the financial institution provides.

Trying to add one of these private kinds of funds manually usually it's impossible because they are not publicly traded and have no symbol.

TJennings

I don’t know c

NotACPA

Let's try re-stating @Chris_QPW's question.  What Financial Institution is HOLDING these UIT's for you?  What brokerage?

TJennings

An entity through Wells Fargo. Not of Wells Fargo’s, but through. I’m fairly new to this stuff, and I’d never heard of a UIT before.

jacobs

@TJennings  I know you're using an investment advisor to manage your funds who you apparently trust, but I still would suggest that you not invest your money in investments you know nothing about; either take time to learn about them so you can make informed decisions about your investments going forward, or ask your investment advisor to migrate  those funds into investments you do understand. I'm not saying there's anything wrong or alarming about UITs; I'm just concerned hearing about anyone allowing an investment advisor to put their money into investments they don't know about. What do these UITs invest in? What are the risks of investing in UITs, and these specific ones? How much of a cut does the broker and the investment advisor take? It's great to have an investment advisor who knows much more than you do, and whom you trust -- but in the end, it's your money, and you should at least have a general idea of what investments your advisor is putting your money into. (I hope this doesn't come off sounding like I'm lecturing you; I'm only trying to offer some advice.)

NotACPA

OK, one more attempt.  What financial institution sends you the statements that show these UITs.  Which are NOT Mutual Funds.

TJennings

I've got this, thanks. We've strayed from my initial questions, and I'm in contact with my advisor. Thank you all for your time.