Schwab mess

William Durham

So.. I have survived the Schwab situation with a little bit of work to go before I'm all squared away. I now have some duplicate accounts with new ones created when I got the fix to work. The new accounts that were created only have data from the day they were created and not any of the history of the account that it is the duplicate of. There is years of data in the original account that is missing from the new account that was created. Can I or should I copy and paste all of the previous transactions of the original account into the new account? In the new account, a bunch of place holder transactions were created, should I delete all of those if I import all of the historical data into the new account?
Thanks for your input
Bill Durham

nerdindenial

In my case it was not necessary to create any new accounts.
My complex Schwab setup (6 accounts/3 users/1 LPOA) is fixed (for now).
LPOA == "Limited Power of Attorney"
OSU == One Step Update (all accounts)

If I were you I would probably update to R36.54 and follow the steps below to recover. YMMV.

Of course you must first login to each of your Schwab accounts' security center on the Web for each user and grant access to Quicken for each specific account.
For Joint Users, be sure to only have one of the users download the joint accounts.
LPOA accounts will need to be downloaded by their actual owner's credentials (because that's the only way Quicken can see them).

Steps:

(1) Update to R36.54

(2) Restore a backup data file from about 11/15/2021. Save your old data file in case you decide to go back to where you were before you read this post.

(3) Deactivate all Schwab accounts from the Quicken account list "Online" tab. If you want you can also do the re-branding exercise you can search for elsewhere on this forum.

(4) Create a new data file with just an empty fake checking account in it (no online updates)

(5) Sign out of your Quicken ID (Under Edit>Preferences> Quicken ID & Cloud). I actually clicked on the link there that said "Login as a different user" and logged in as me again. Closed and re-opened Quicken. Re-opened my original data file.

(6) Go into the Add new Accounts and added Schwab and Company and logged in as the "power user" with 3 accounts, including Intelligent Portfolio Account and LPOA control (but the LPOA account is not visible because it belongs to a different user). Checked the boxes for all the accounts and they were AUTOMATICALLY pre-matched to the existing Schwab accounts. Changed my Schwab password where prompted. Downloaded over 5000 days of transactions but actually no new or duplicate transactions showed up at all. I had already updated several times in the last few days and also manually entered the few missing transactions in the Schwab Intelligent Portfolio account.

(7) Repeat step 4 for the second set of user credentials (2 accounts, but nothing Joint or LPOA).

(8) Repeat step 4 for the joint user credentials that had the account that I have LPOA over. In this case I only checked the box for the LPOA account, because the other accounts that this joint user has access to have already been downloaded in step 4 by the "power user".

Now when you do an OSU it shouldn't take over about 1 minute. If it takes 2.5 minutes there is a communication problem (if you get an error message) or at least some very long delays.