Wells Fargo Advisors WellsTrade / CAP Account - Unable to Link Cash Subaccount

Similar to many others, I have spent several hours and separate phone calls with Quicken and Wells Fargo Advisors to set up a new WellsTrade brokerage account (which Wells Fargo internally refers to as a Command Account). I can get what appears to be the brokerage account to link via Direct Connect, but the account does not show any cash transactions.

In every other brokerage account that I have with other institutions, the cash holdings are integrated into the account. At WFA, there is a brokerage account and a linked 'brokerage cash account' (also called a subaccount) where the cash seems to sit. In working with both Quicken and WFA, we clicked a button in the Quicken online setup for the brokerage account to show cash in a linked checking account. Neither the brokerage account, nor the linked checking account, in Quicken shows cash. I also cannot get any connection from Quicken to this subaccount.

I can see cash holdings only when I go to Online Center within Quicken and and navigate to Wells Fargo Advisors.

While Wells Fargo's Quicken support team can help with bank products, the Wells Fargo Advisors reps only have high-level support scripts they can talk through (after which they refer all questions to Quicken).

The way the account is structured, the 'brokerage services account' at Wells Fargo is technically a bank account (not a brokerage account); Wells Fargo online support can 'see' the checking account, but they can't figure out how to enable Quicken to see it in order to link it up via Express Web Connect.

Has anyone (including anyone at Quicken) been able to get these WellsTrade accounts to link such that the cash is visible (since it might be sitting in this separate subaccount)?

Answers

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    It seems to me that there is a fundamental misunderstanding of what "Show cash in a checking account" does.

    This linked checking account is a "virtual account", it isn't a physical account at the financial institution.
    All it does is when cash transactions are downloaded through the investment account they are routed to the linked checking account.

    So there isn't any way that you can the "linked checking account" for a separate checking account at the financial institution.

    The checking account needs to be "advertised" to Quicken as a separate checking account or they need to send the cash transactions through the investment account.

    It seems like neither is happening.
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  • Dave Chicago
    Dave Chicago Member
    Wells Fargo shows the cash account as a separate account, and they had instructions to show the linked checking account separately. Personally, I don't really want the separate account, but I feel its a feature of the account.
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