Individual Bonds at Schwab removed and re-added automatically

Bexbusterchops
Bexbusterchops Member ✭✭
edited March 25 in Investing (Windows)
This weekend, when I updated my accounts, I noticed that my net worth changed radically. I then saw that two accounts that I have at Schwab, which both have individual bonds, changed radically. Both showed that all of the bonds, which I have had for several years, were removed and then simultaneously readded. I did not authorize these transactions; they were not downloaded.
Initially, these new bonds posted without pricing. Today, after a Supervalidation, the pricing is appearing. Both the pricing and the bond names seem largely correct BUT I have now lost my cost basis information. The newly added bonds are recorded as simply "added" to the account on 2/11/2022--there is no purchase history.
What is going on? I have used Quicken since the 1990's and this bond problem, together with the horrific Schwab fiasco in December, 2021, undermines my faith in Quicken. I wish there were a truly competitive alternative.
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Comments

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Are you sure something "real" didn't happen to these bonds, like getting "swapped" for alternative bonds?  What are the names of the disappearing bonds?  Maybe these transactions are Schwab's attempt to mimic a real world transaction?
    I know nothing tangible about your actual situation but I've frequently counseled users that they really can't count on "downloading" from Financial Institutions (FIs), especially institutions that deal with securities, to do accurate "accounting."  They want to get you "positions" correct and frequently use transactions like Remove and Add to get there, losing information along the way. 
    Find out if something went on with these bonds where Schwab resorted to Removes and Adds instead of a more comprehensive set of actions that would preserve all relevant information.
    If it's nothing other than a "glitch" and nothing happened in the real world with respect to these bonds then you should be able to simply delete those downloaded actions, losing no information.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    This certainly seems odd. Are you sure you did not download the Removed and Added transactions?

    If they are the same bonds, with only one entry in Quicken's Security list and the same CUSIP numbers, you should be able to just delete the Removed and Added transactions and it will be as if nothing happened.

    If they are really different securities, please post back for further instructions.
    QWin Premier subscription
  • Bexbusterchops
    Bexbusterchops Member ✭✭
    Thanks to you both for the prompt and thoughtful replies. I will see if your comments apply to my situation. I have downloaded transactions set to require my approval before being entered and I did not process the 40+ remove and add transactions that I see in my register. I was not aware that a downloaded transaction could post without my approval and, given the extraordinarily bad experience I had reconstructing my accounts with Schwab on Quicken back in December, I assumed the worst about Quicken.
    Again, thanks for responding!
    Eli
  • Bexbusterchops
    Bexbusterchops Member ✭✭
    Jim and Tom,
    The attached screenshot shows some of the affected bonds. I see two nearly identically named bonds. In each pair of bonds, one has price download checked and some have CUSIP and some have symbols. This is a fraction of the affected bonds. I don't understand the relevance of the CUSIP number though I take it that it guides the synchronizaiton with Schwab. I wonder if the ones with no CUSIP number used to have a CUSIP number. I have not, to my recollection, ever added a bond on my own; I have always accepted the download from Schwab.
    Thanks for any comments.
    Eli
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Do the Removed and Added transactions have c's next to them in the Clr column of your register? That would indicate that they were downloaded.

    Also, did your account get set to Simple mode by a recent update, hiding the transaction list? If you downloaded transactions while in Simple mode, that might account for the Removes and Adds.

    QWin Premier subscription
  • Bexbusterchops
    Bexbusterchops Member ✭✭
    Jim and Tom,
    None of the transactions have a "C" in the "Clr" column; that column is empty.
    I don't know what "Simple mode" is but in the "Edit Account Details" tab, under "Online Services" it says "Automatic Entry is: Off". Further, under Settings/Preferences/Downloaded Transactions, both options for Automatic Entry under "After Downloading Transactions" are unchecked. So far as I know, all downloaded transactions require my review and approval.
    Thanks again for any help.
    Eli
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    From your Security List, it appears that you have several pairs of similarly named bonds, one with a CUSIP ID and one without. The ones with the the CUSIP IDs are "Matched" in Quicken to a bond at Schwab. Are those the ones that were recently added?
    QWin Premier subscription
  • Bexbusterchops
    Bexbusterchops Member ✭✭
    edited February 14
    Jim,
    Much to my surprise, I don't see a pattern corresponding to the CUSIP. Some of the added securities have NO CUSIP and some do have a CUSIP.
    Many of these bonds I have had for 4 or 5 years without a problem--4 and 5 years of downloaded interest payments and pricing information. Then, on 2/11/2022, something changed with nearly all of them (I think there might be one exception. I'll try to track that down to see if it reveals anything interesting).
    Eli
  • Bexbusterchops
    Bexbusterchops Member ✭✭
    The only bond that was not removed and then re-added on 2/11/2022 was Amern Muni Pwr Oh REV 5% 02/15/2033 Callable which was purchased recently, 11/10/2021. I think I bought other bonds in 2021 so I don't think the recent purchase date, per se, is the key difference.
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    I was under the impression that this just happened for 2 bonds but clearly it was a lot more than that and this, to me, certainly suggests a "hiccup" in the EWC+ process, (which doesn't surprise me).
    When you look at your account history in Schwab are you seeing any sort of transactions that suggest these downloaded Remove and Adds have any legitimacy?  I'm pretty sure that won't be the case.
    You might call Schwab and ask to speak to one of their Quicken IT guys to see if he has any insight as to what happened here, though I expect this too will be a dead end.
    If your portfolio of bonds was correct prior to these erroneous downloads I'd suggest either restoring your 2/10/2022 backup or going through and deleting all the 2/11/2022 downloaded transactions.
  • Bexbusterchops
    Bexbusterchops Member ✭✭
    Thanks to you both for your help.
  • Bexbusterchops
    Bexbusterchops Member ✭✭
    edited February 16
    Jim and Tom,
    I deleted the 2/11/2022 adds/removes and the account seems to be fine again. When I synchronize the accounts with Schwab, the deleted transactions do not recur but I do get a message, after processing any downloaded transactions, that indicates that Quicken "thinks" there are security mismatches and it proposes name changes to me. This condition applies not to all the bonds, as was the case in the "removed and added" problem, but to three of them. I have attached a screenshot of the issue. I'd appreciate any guidance and I'd like to understand what could be causing this condition, if you know or have any suspicions. Thanks for your help!
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Edit those securities in Quicken and uncheck "Matched with online security." With the next download you should be able to match the securities properly, eliminating the "Differences."
This discussion has been closed.