Schwab downloads includes many to unidentified security

mglbe
mglbe Member
edited April 9 in Investing (Windows)
When I download my schwab account, many transactions (div, buy, sell) are listed as unidentified security. When I edit the transaction and save it to the correct stock, the edit doesn't hold. It keeps saying unidentified security. This is happening for many of my established stocks.

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Not sure what's going on here as I'm assuming these unidentified securities do exist and have existed in your Quicken Schwab Account.  One thing you might try is to edit the securities in the Account, unchecking the "Matched with online security" box.  With the next download you should have an opportunity to re-match the securities that Schwab says you have in the account with the proper securities listed in the Quicken Account. 

  • mglbe
    mglbe Member
    I did this and it seems to have partially helped. It let the dividends be correctly recorded and the purchases, but it duplicated the transactions so I had to go and delete the other one. Thanks for helping me get at least closer.
  • EtherOne
    EtherOne Member ✭✭
    I'm having a similar problem with unidentified securities. It started with the Schwab transition and I only have the problem in my Schwab accounts. I've tried unmatching the online securities like you mentioned above. When I request my next online update, if a new transaction (DIV / Buy / Sell) for that unmatched security comes up I get presented with the option to rematch with an existing security. I select the correct security to rematch, but In the resolution window I still get an unmatched security transaction. This seems to happen with most of my Schwab securities.

    The strange thing I've noticed is that Schwab seems to be sending 2 CUSIP IDs. For Example, I have a security MWTIX in one of my Schwab accounts. I unmatch the security. The next time I download an update from Schwab, Quicken askes me to match with MWTIX. The existing security that I'm asked to match has no CUSIPID since I unmatched. The incoming security from Schwab shows Ticker Symbol MWTIX and has a 9 digit numeric CUSIP ID. I say yes to the match.

    Then, in the same download session I get another request to match the same MWTIX security. The existing security in the security list now shows a correct symbol MWTIX and a 9 digit CUSIP ID, however, the security the brokerage is presenting this time has the correct symbol (MWTIX) but the CUSIP ID shows as [MWTIX] There is no 9 digit CUSIP ID this time around. When I click yes 'this is the same security' quicken replaces the 9 digit CUSIP ID with the newly presented CUSIPID MWTIX.

    Once the matching is completed I get to the downloaded transaction resolution screen where I can accept transactions, however the transaction still shows as an unidentified security. This occurs even thought the unidentified security is one of the ones that I just selected as a match.
  • EtherOne
    EtherOne Member ✭✭
    Here are screenshots of the matching request and the resulting unidentified securities.
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    You might have to bring Quicken Support into the loop here (I'd advise "phone" rather than "chat") to figure out what's going on here, and they might have to contact Schwab so that they can figure out what's going on.
    The "Metropolitan" securities in your picture are just as confusing as all get-out.  You show two securities with the same MWTNX tickers, (maybe the same security, only named differently?), only one of these securities has a CUSIP, and it seems to be the wrong CUSIP.
    A quick search for CUSIPs came up with these:
    CUSIP:    592905764
    Ticker Symbol:    MWTSX

    CUSIP:    592905103
    Ticker Symbol:    MWTRX

    CUSIP:    592905509
    Ticker Symbol:    MWTIX
    and as far as I can tell MWTNX doesn't have a CUSIP?
  • EtherOne
    EtherOne Member ✭✭
    Thanks for looking up the CUSIPs. The problem I have is even if the CUSIPs are correct, when Quicken connects to Schwab, Schwab connection seems try to rematch securities, and when it does it forcibly changes the correct CUSIP to the Ticker symbol. Thus for my funds held with Schwab the ticker symbol and the CUSIP ID become the same thing in my quicken file. I believe this is the reason that the security comes across as unidentified.

    I realize in my securities list there are two listed MWTNX securities. I have tried to delete one of the MWTNX securities that has 0 shares, but for both funds in the security list the delete option is greyed out.

    I would call CS on their phone call but the last time I did that I was on the phone for 5-6 hours through 2 different support tiers and the final resolution was 'well you'll just have to create a new file and start over" Really unsatisfactory experience, especially since I've been a Quicken customer since the late 90s. I didn't have time at this point to do that.

    I was one of the lucky people who had their Schwab accounts really messed up by the 'transition' late last year. In one of the community Schwab Problem discussions that I had reviewed the quicken rep mentioned that the engineers needed more info about the problems users were experiencing. I figured I'd try to post the problem that I had today so they could review it and see if Schwab was really sending 2 CUSIP IDs or if quicken was parsing the download incorrectly. Hopefully someone with access to the engineers sees this... If I didn't have to endure the 2-3 tiers of basic support "have you rebooted your computer"; "did you turn the computer off and on"; "did you disconnect/reconnect your online connections" etc; I would make the effort to wait my way up the chain.
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    "Schwab connection seems try to rematch securities, and when it does it forcibly changes the correct CUSIP to the Ticker symbol."
    The "matching" goes on in the Quicken side of the house, it's not anything Schwab is attempting.  You might want to read the "Match securities" section here
    to see how Quicken is going about this.
    I think all the similar names - names that might not be exactly how Schwab names them in the download - could be part of the problem. 
    As to the two names/one ticker issue, one way of fixing that is to find which of the two has the smaller number of transactions - an investment transaction report will spell that out for you - and change the security name for those transactions to the other security name.  When that's done you should be able to delete the the now "unused" security from you file.
  • EtherOne
    EtherOne Member ✭✭
    Thanks for your recommendation, Tom. I'll give it a try with MWTNX. Still unsure why Quicken makes 2 attempts to match unlinked securities during the online update reconcile. 1 where it gives the correct CUSIP ID, the next where it changes the CUSIP ID to the Ticker name. This was what happened Saturday when trying to match a dividend for MWTIX. I only have 1 MWTIX security in Quicken.
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