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Schwab Charitable / Donor Advised Fund

bytre

Do NOT merge this with the other Schwab connection threads, like has been done with other people noting this problem.

I've gotten through removing the online access stuff for over a dozen Schwab accounts, re-adding them, and doing manual transaction matching for the Schwab Bank accounts. I've gotten through all this.

However, my Schwab Charitable account does not show up in the list of accounts from Schwab and give me an opportunity to match it. This was working with the old connection system.

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gooddog50

Ditto @bytre same problem here and Quicken tech support could not help me get it fixed. We just gave up, hoping there will be a fix down the road.

CocoaPuff

I just posted a similar question on accessing Donor Advised Fund (DAF) account after the EWC+ transition. Based on your post, it appears DAF accounts are no longer accessible after the transition. I suspect (not 100% certain) this has to do with the registration of the DAF account and Schwab's new terms and conditions for who has access to certain account types using 3rd party programs like Quicken.

Andrew Jarabak

I had this problem, so I went to tools/add account, chose Charles Schwab and when it presented me with t a list of Charles Schwab options, I chose Investor C. The account was listed there and I just linked that one to my existing Quicken Account.

mitch.trumpetwin

This is a separate problem than the other Schwab things we are all going through....

I notified Schwab about this.

My message to Schwab Charitable

Schwab did some changes to how data is downloaded to Quicken. There were a lot of problems. I got mine solved I think... however... Schwab Charitable is NOT available for download to Quicken at all. When I go to Services and security and then at the bottom accounts for download, Schwab Charitable is not there. Could you look into that? Thanks.,...

Their response:

Thank you for your email. We have reported the Quicken issue for our Schwab Charitable clients to our tech team for resolution. At this time we have not been advised of a resolution date. We apologize for any inconvenience.

mitch.trumpetwin

I messaged Schwab charitable... This is their response as of yesterday...They are aware of it.

Thank you for your email. We have reported the Quicken issue for our Schwab Charitable clients to our tech team for resolution. At this time we have not been advised of a resolution date. We apologize for any inconvenience.

mitch.trumpetwin

And as an add on... If you logon to Schwab. Goto services, then security. At the bottom of the page, there is a Quicken tab. When you click on that, you will see all the accounts that Schwab will allow quicken to download. Notice that Schwab charitable is missing....

bytre

++ for Andrew Jarabak. I found mine in there as well, and linked it. it downloaded ~2300 transactions, but thankfully didn't make me manually match them.

mikeweberatl

Clearly they decided not to include Schwab Charitable in the new Quicken downloads. Mine is still linked to the old ("zz") Schwab, but that no longer downloads any new transactions. Hopefully they just left this out because they were behind schedule and we'll get it added back later.

larschnur

Has anyone else had the problem where the Schwb Charitable account does not appear in the list of authorize accounts and Schwab? Actiivity then can not be downloaded and I believe this generates a CC-800 Error. All of my other accounts (10) download properly except for the lack of Bond Pricing.

gooddog50

Yes, see: https://community.quicken.com/discussion/7902132/schwab-charitable-donor-advised-fund#latest
Some progress by a few users, but not anything clear that I can see as of yet.

Andrew Jarabak

I have. All my other accounts are ok. When I use the authorize account procedure, my charitable account doesn't appear in the list of accounts. I did manage to link it thru the Schwab Bank Investor C link but it doesn't update anything.

larschnur

I have an open ticket at Schwab about this. You might want to follow up with Schwab also

larschnur

I spoke with Schwab technolgy support on Wednesday. A ticket has been opened about the Schwab Charitable Issue.

larschnur

My cc800 error is gone after the suggestion to use Schwab investor c for The Schwab Charitable account. Thank you Andrew Jarabak.
I am going to try adding my checking account to Investot C. If that works, it is a work around for the MBS pricing problem. I have been downloading the brokerage accounts monthly for years and manually fixing the MBS problem. I will be back to that solution.
I am not happy about all this!

Quicken Alyssa

Hello @mitch.trumpetwin & @mikeweberatl,

Thank you for taking the time to come and report this issue through the Community, though I do apologize that you are experiencing this.

As you both seem to have stated, if the account is not in the list of available accounts, then I would assume that it will not be available.

However, I do know that some users were able to get their charitable accounts connected and working with the Schwab Investor C instance. So you can give that a try if you'd like. If you do try that, please let us know if that makes them available for you or not. Thank you.

Quicken Alyssa

mitch.trumpetwin

Thanks Alyssa.... Unfortunately, I got an "Oops Error.". I will wait for the real fix. Thanks for your help. It was a good thought!

MontanaKarl

@mitch.trumpetwin
I'm just curious. The assets in the Schwab Charitable account do not belong to you... they belong to Schwab Charitable. Why would you want Quicken to track those transactions and have to manually set every report to ignore that account? Again...just curious as I have never included my Schwab Charitable account in Quicken (back when we could) and am having a hard time imagining why it would be useful vs just just reviewing / searching those transactions online...or having a totally separate Quicken data file that ONLY has the Schwab Charitable account in it to get reports on total grants per recipient, for example...

Note that there is an Export link at the top right of each tab on the Schwab Charitable History page letting you bring any of that info into Excel or a database for further reporting purposes.

mitch.trumpetwin

@MontanaKarl While I don't own those assets... I do control them and am responsible for their investment and to the extent that I can maximize the assets in the account... there is more to eventually give to a charity.

BobbiHager

Schwab Tech just gave me this answer about why charitable accounts stopped linking after the conversion: "That is a change that will be implemented moving forward. There isn't any word on those account types being accessible through the Quicken platform in the future. They are still accessible through Schwab.com."
Looks like Schwab doesn't care - maybe because they have their own products for access?

MontanaKarl

mitch.trumpetwin said:

@MontanaKarl While I don't own those assets... I do control them and am responsible for their investment and to the extent that I can maximize the assets in the account... there is more to eventually give to a charity.

Understood (although legally, you are not responsible for the accounts, but only give "direction")... but still, totally out of curiosity to help me understand for my own situation - is there any reason not to have a separate Quicken data file just for Schwab Charitable so that it isn't co-mingled with your personal assets and transactions?

William Buckley

My Schwab Charitable is in my Quicken file, but the account is separate, so not included in my net worth.

mitch.trumpetwin

@MontanaKarl There is no reason to keep it separate or not. It is a personal decision. I would point out, one contributes to Schwab Charitable because of the tax advantages that Schwab Charitable offers. I contribute to charity every year then from the Schwab account. If my charitable account goes to zero, I put more in. Therefore, I view it, even though I don't technically own it, as an asset. However, should you feel that if you put money in a charitable account that it is gone even though for a period of time in the future you use that asset to make charitable contributions.. hey , that's up to you. No problem there. When I buy a car, I do not track it as an asset even though it has value. I am sure many people do. It is just how you view it. All the best and good luck getting all of the Schwab stuff to work.

Quicken Alyssa

Hello all,

Just wanted to stop in with an update.

In a new Knowledge Base article regarding Schwab, it states the following;
Supported account types: Brokerage, IRA, 401(k), Line of Credit, and Loans

Thought I should share this with you all!

Quicken Alyssa

mitch.trumpetwin

Yea... it's just that Schwab Charitable was supported until this debacle happened. And you are correct.

mikey

I'm with you @mitch.trumpetwin - in fact it's not just charitable, there's a whole mess of account types that overnight are no longer available/supported with ABSOLUTELY ZERO notice from Schwab. For example, if your accounts where held by a Living Trust, an extremely common estate planning practice, they are no longer supported for download to Quicken. Or maybe you have a biz and the accounts are in the name of an LLC. Yep, no longer supported for download. Really disappointed and likely moving back to Fidelity. Quicken, you need to really push Schwab on this one. It's absolutely ridiculous I can use the same login credentials on Schwab's website and still access these accounts, yet they are not "visible" to Quicken.

mitch.trumpetwin

@mikey After reading all the Schwab problems. One person has this. Another that. (BTW I have a living trust and it works fine and it is supported). If you logon to Schwab, go to services, then security. At the bottom is a Quicken tab. Click it to see all the accounts that you are able to see. I have been using Quicken for decades... and started looking into Mint and Personal Capital . To be honest, neither of those do everything that Quicken does. However.... in all this time, this is the worst Quicken situation that I have ever seen. And I am not certain, that Quicken created this. But they seem to be silent on whose problem it is.

mikey

@mitch.trumpetwin [Removed-Inaccurate] glad to hear it works for you. i had already looked at the schwab.security.quicken tab and for me, the only accounts that show are those which are held in my name like an IRA. when you look at your living trust is it named as the "beneficial owner" and you are an "authorized agent"? just trying to crack the code on this. my RIA is working schwab from the inside. thinking their relationship with schwab gives them more $$ leverage so hoping they get some movement. this seems like a policy decision on schwab's part wrapped under the guise of a security upgrade (at least that's what I'm hearing from inside).

mitch.trumpetwin

@mikey I am the beneficial owner I believe. Good luck and let me know what you find out.

MontanaKarl

@mikey Is there more than one trustee for your living trust? I'm the sole trustee both for my living trust and as the fiduciary trustee (not a benificiary) on a testamentary trust and both are available to me in Quicken.

mikey

@MontanaKarl interesting... yes, both my wife and i are trustees for our family living trust. could be that, but i'm increasingly suspicious this is merely semantics around what constitutes "account ownership" in schwab's view. i sense there was a whole bunch of lawyers involved with the new reauthorization scheme. my trust is a bit more complex and wrapped by an LLC for which i'm the manager. in schwab parlance the account is titled in the entity's name but owned by the trust, for which my wife and i are both agent and trustee.

my RIA has been in contact with schwab compliance who's confirmed this is a known issue related to their policy change. schwab is telling my RIA they will provide a fix to allow for downloads but won't give an ETA. my confidence level w/schwab is at an all time low after this, so not holding my breath and contemplating whether moving back to a direct connection like fidelity is gonna be fewer headaches. already burned way, WAY, too much time on this.