Holdings still show in online center

leonard kearney

i had a Schwab Brokerage account. I moved all the assets to a pledged asset account. There is nothing in the old account. Yes OnlineCenter still shows holdings. And if I do a compare it tells me the shares are still reported by Schwab. Huh>

Quicken Paloma

Hello @leonard kearney, 

Thank you for reaching out to Quicken Community. We apologize you are having this issue. For this particular instance, I would recommend refreshing and rebranding the profile on your online center. (Before starting the process please save a backup) 

To do this select Tools >Online Center >Hold Shift & Control keys >Contact Info. On the pop up screen check the box "Financial Institution Branding and Profile" and click refresh. A visual example is below. 



When you have a moment please attempt the steps above and let us know how it goes!

-Quicken Paloma

Tom Young

I'm not sure that rebranding will do anything here, but you might as well try that since it won't hurt anything, and might even work.

As a practical matter it sounds like the "old" account still really exists at Schwab - the securities are still owned by you after all - so I don't know if you really needed to move the securities in the first place.  Schwab may have told you about a new account number (with Schwab Bank I assume) but the brokerage side of the house has the tools to manage security transactions while the Bank doesn't.  I'd guess the "new" account is a legal fiction that tells the world, and you, "the borrower has pledged these assets and if need be we have the legal right to sell them immediately, if necessary" but the "brokerage", not the "bank" is actually maintaining the account.

leonard kearney

i di the rebranding exercise - now I have 9 new transactions (dated 11/30/21) in my empty account.... all are reinvest dividends. I still see holdings in the online center.

leonard kearney

so i have two schwab account - one ending in 1536(this is the empty account), the other ending in 4536. the transactions I see in 1536 belong in 4536

Tom Young

I'd suggest you read my original posting.

As a practical matter your 1536 account is functioning just fine on the Schwab brokerage side.  You should be able to simply keep that 1536 account intact - no transfer of holdings to a new Account in Quicken - and mentally remember "This Account is pledged to Schwab and the amount I can borrow from Schwab Bank limited to the Loan Value of Collateral assigned to it by Schwab."

If for whatever reason you think you absolutely must have everything in a Quicken Account assigned the 4536 number then one way of going would to simply move the transactions from the old Account to the new Account.

You haven't really described what you did originally when you established the secured line of credit.  Is the 4536 account actually eligible for downloads?

leonard kearney

Tom, I do appreciate your comments. My quicken accounts show the stocks removed from the old account and added to the new account (i didn't move them). I have received ongoing downloads for the new account. While what you suggest is possible, it appears to me that Schwab actually moved the transactions. THe "holdings" screen shows no stocks in the old account - why would the online center still show them?

Tom Young

If you actually received Remove transactions in the old Account and Add actions for the new Account then showing positions in the online center does seem wrong. 

Does the online center show positions for the new Account too? 

One thing to try, after making a backup, would be to press the "Compare to Portfolio..." button.  You'd expect to get proposed placeholder entries in the old Account, which you'd decline.  Maybe that shakes something loose?

leonard kearney

Online center does show positions for the new account. "Compare to portfolio" for new account shows in balance - for old account shows total out of balance with quicken having zero balances.

q_lurker

leonard kearney said:

Online center does show positions for the new account. "Compare to portfolio" for new account shows in balance - for old account shows total out of balance with quicken having zero balances.

It would seem possible to me that your online center is showing the last available information for the old account.  I am hypothesizing that the FI sent the Removes for the old account, but that it did not send new holdings after that, since there were no holdings at all.  

For that old account in the Online Center, what is the date/time data -- Holdings at ___ as of (date and time)?  How does that compare to when the switchover took place?

leonard kearney

interesting idea. Remove transactions are all 1/18/20. Holding show from 12/4/21(see snip)