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Mutual Fund Conversion - change Mutual Fund symbol/class AND retain original history

Ps56k2

I ran into this with the recent T.Rowe mutual funds and their migration to lower ER funds, but with different symbols. The download merely had the usual REMOVE Shares for ALL the old symbol, and ADD Shares for the new symbol.... pricing is slightly different.
But just doing that looses all the prior history related to the "old" symbol...

SO, any suggestions on how to change the "holdings" with the new symbol,
but still somehow retain all the old history and prior transactions cost basis -

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Sherlock

I suggest you delete the downloaded Removed and Added transactions and use the Mutual Fund Conversion wizard instead: open the account, press Ctrl + N, select Mutual Fund Conversion in the Enter transaction: pull-down menu, ...

Ps56k2

Sherlock said:

press Ctrl + N, select Mutual Fund Conversion in the Enter transaction: pull-down menu, ...

Running Win10 - R38.30 - and I don't see the Mutual Fund Conversion in the pull down for transactions type ?

The T.Rowe funds are "single mutual fund" per account.... if that matters.

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NotACPA

Since these are SMF accounts ... you CAN'T do the conversion in the existing account, or even change the symbol of the security for the account. ONLY the original security can be held in an SMF account.

You need to create new accounts for each such conversion and, probably, sell/buy to get the funds moved.

Sherlock

Ps56k2 said:

Sherlock said:

press Ctrl + N, select Mutual Fund Conversion in the Enter transaction: pull-down menu, ...

Running Win10 - R38.30 - and I don't see the Mutual Fund Conversion in the pull down for transactions type ?
The T.Rowe funds are "single mutual fund" per account.... if that matters.

If you're using single mutual fund account registers, you should have two registers. Deactivate the Online Services of the register that held the original mutual fund, set the register to support multiple securities, perform the Mutual Fund Conversion, and move the Added transactions to the new register.

Ps56k2

tnx for the pointers - I've been restoring back to the ADD/REMOVE date to get a pre-change file....
and had tried a bunch of things - but nothing worked.....
Will try the latest suggestions offered....

NotACPA

@sherlock, digging back into the deep dark recesses of my memory ... I'm not sure that TRP supports other than SMF accounts.

Sherlock

NotACPA said:

@sherlock, digging back into the deep dark recesses of my memory ... I'm not sure that TRP supports other than SMF accounts.

@NotACPA, With the approach I suggested, it shouldn't matter what TRP supports or doesn't support.

NotACPA

@sherlock, I'm missing something.

Doesn't the MF Conversion create the new, converted security in the same account? And how can that new converted security, with a new symbol, exist in a previously used SMF account that was created for a different security with a different symbol?

Sherlock

NotACPA said:

@sherlock, I'm missing something.
Doesn't the MF Conversion create the new, converted security in the same account? And how can that new converted security, with a new symbol, exist in an SMF account?

@NotACPA, After you have deactivated the Online Services of the register that used to hold the original mutual fund, you should be able to set the register so that it is no longer a SMF account register. If you don't want to do that, you could move all the transactions to a intermediate register that isn't SMF, run the wizard there, and then move the transactions to their appropriate registers.

NotACPA

@Sherlock AHHHH, this is the 1st time that you mentioned the CRITICAL deactivate step. No wonder I was confused and @Ps56k2 couldn't find that wizard.

Sherlock

NotACPA said:

@Sherlock AHHHH, this is the 1st time that you mentioned the CRITICAL deactivate step. No wonder I was confused and @Ps56k2 couldn't find that wizard.

@NotACPA, No. It is not the first time I mentioned it. Reread my 2:37pm post.

Ps56k2

ok... at a stopping point - for anyone following along -

Did the Edit Account - Deactivate Online Services and also turn off Single Mutual Fund.

Next, perform the Mutual Fund Conversion menu item ....
BUT .... this entry is only found in what I call the "Account Level" [Enter Transactions] menu at the top left of account.
It is not in what I call the "Line Item" transactions pull down menu of the Register.
Did that function - and it entered a REMOVE for all old shares -
and created new ADDED line items for each older transaction.

That's where I'm at now.....
SO - what are the next steps ....
Do the Add Account - and let TRP create and download the newly existing holdings and recreate new SMF accounts?
Then - select and copy over all the newly created ADDED transactions for each account?
Lastly - what to do with the now orphaned old TRP accounts ?

[EDIT] - updated topic title to better reflect the Mutual Fund Conversion discussion - for future searching

Sherlock

Ps56k2 said:

ok... at a stopping point - for anyone following along -
Did the Edit Account - Deactivate Online Services and also turn off Single Mutual Fund.
Next, perform the Mutual Fund Conversion menu item ....
BUT .... this entry is only found in what I call the "Account Level" [Enter Transactions] menu at the top left of account.
It is not in what I call the "Line Item" transactions pull down menu of the Register.
Did that function - and it entered a REMOVE for all old shares -
and created new ADDED line items for each older transaction.
That's where I'm at now.....
SO - what are the next steps ....
Do the Add Account - and let TRP create and download the newly existing holdings and recreate new SMF accounts?
Then - select and copy over all the newly created ADDED transactions for each account?
Lastly - what to do with the now orphaned old TRP accounts ?
[EDIT] - updated topic title to better reflect the Mutual Fund Conversion discussion - for future searching

The next step is to move the Added transactions introduced by the Mutual Fund Conversion wizard over to the new account register: open the source register, press Ctrl + Shift + N, and select Move transactions

As to what to do with orphaned TRP account registers, that is up to you. My preference is to maintain the orphaned account's registers as hidden and eventually move them to Separate when they are no longer needed for my tax reports. You may move the orphaned TRP account register transactions into an appropriate common TRP register to reduce the clutter and free up the register slots for reuse.

Ps56k2

A couple of nits .....

1 - On the ADD ACCOUNT - since these must be NEW Quicken accounts to hold the newly created transactions,
You must choose "Add to Quicken" vs the usual "Link to existing account"..... to create a totally new account.

2 - on the Move Transaction, when you click the checkbox to Select, all of the current/new entries will be auto highlighted.

3 - when you actually click on the [Move] at the bottom of the screen,
it will move the transactions AND also invoke a Validate to run....
took about 3mins - and it does this for EACH time you use [Move Transactions]

4 - lastly, in the newly created Register -
you need to obviously go and Delete the "Bought Shares" else you get double accounting.

Also, edit the old accounts to [x] them in the Separate world,
along with other Separate accts - closed, 529, converted, merged, zero bal, etc

I think we are done - thanks to all - not sure how mere mortals could walk this gauntlet