Transferring holdings between brokers

CABDEL
CABDEL Member
edited May 14 in Investing (Mac)
I recently moved some securitiesfrom one broker to another. When I looked at the transfer in Quicken, I saw that the shares came over with no cost information and a transfer date of 1/1/1900. The Quicken supportrt folks were of no help in trying to resolve this issue.

Has anyone else run into this problem?

Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    I'd suggest removing whatever transactions downloaded online, and then making the transfer with a manual transaction. In the existing account, in the Transaction register, create a new transaction of the type=Transfer Shares. Here you can specify whether to transfer one security or all, and the destination account.

    (Make a copy of your data file before doing this, so you can go back if you end up with some undesirable result.)
    Quicken Mac Subscription • Quicken user since 1993
  • CABDEL
    CABDEL Member
    Thanks for getting back to me Jacob. Unfortunately Quicken will not let me erase/delete the downloaded information.
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    I’m not sure how it prevents you from deleting a transaction. In the old account or the new account? What type of transaction?

    If this is a new account, you could try deleting the account entirely (Control-click on it in the sidebar and select Delete from the pop-up menu). Then try deleting any  transactions in the old account which removed shares. Then create a new account; make it a manual account with a zero opening balance, not tied to your brokerage for downloading. Then Transfer Shares from the old account to the new one.

    (Of course, make sure you have a backup copy of your file before you embark on this!)
    Quicken Mac Subscription • Quicken user since 1993
  • CABDEL
    CABDEL Member
    Jacob: Thanks for trying to help with this problem. It is really strange. Neither account is new; i just transferred securities from one account to another (I also closed out the account from which things were transferred). I have done everything you have suggested, including setting up a new account and then pulling down information from the broker. I still get the transfer shares showing up with no cost attached and no ability to modify it. I am starting to think that the problem is with the brokerage system.
  • CABDEL
    CABDEL Member
    Jacob, once again thanks for your help. I finally was able to get the cost, albeit an average cost, of the transferred securities into Quicken.
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