Pershing Account - Pershing Government Account

Markc1024
Markc1024 Member
edited April 12 in Investing (Mac)
Trying to link my IRA and have an issue with the above cash holding account in Pershing. When linking my account, it mistakenly attaches "PGR" as a stock symbol for this line item; which actually maps to Progressive Corp.
It initially downloads it with a shares set at lets say 1000 and price of 1.0 which is accurate. However, upon subsequent updates, it looks up PGR and updates the price to be 105.54 (or the current stock price) and then does the value calculation of 1000x105.54=105,540. Which is way off. Trying to edit it, the type is "other" and the asset class is "cash". However, I cannot seem to find a way to decouple the PGR stock symbol from this item within Quicken.
Thoughts or suggestions?

Comments

  • ScottyG
    ScottyG Member
    I have a similar issue in Quicken for several Pershing investment accounts. On my accounts at Pershing, the PGR holding lists as "Pershing Government Account" and has the type as cash. Basically on my Pershing accounts linked in Quicken, the accounts that have a cash holding should show a unit price on that holding of "1.00", but they have another value. A couple of accounts also have a holding "Cash", but that has the same issue. Since the unit pricing on these is another number other than "1.00", it throws the market value of the holding and account way out of sync for the account versus what Pershing shows.

    Below are the examples of what I'm running into on 3 Pershing accounts in Quicken:

    1) Pershing LLC linked Investment account, unit price for cash holding incorrect:
    Holding symbol “CASH” on this account should have unit price of “1.00” as shows directly on Pershing account. However Quicken shows unit price of “55.96” for this “CASH” holding.
    This incorrect unit price results in displaying an incorrect Market Value for the holding as well as the overall Account Market Value.

    2) Pershing LLC linked IRA Investment account, unit price for cash holding incorrect:
    Holding symbol “PGR” (asset class Cash, asset type Cash) on this account should have unit price of “1.00” as shows directly on Pershing account. However Quicken shows unit price of “111.22” for this “PGR” holding.
    This incorrect unit price results in displaying an incorrect Market Value for the holding as well as the overall Account Market Value.

    3) Pershing LLC linked Roth Investment account, unit price for cash holdings incorrect:
    Holding symbol “CASH” and symbol “PGR” (asset class Cash, asset type Cash) on this account should both have unit price of “1.00” as shows directly on Pershing account. However Quicken shows unit price of “CASH” as “55.96”, and unit price of “PGR” as “111.92”.
    This incorrect unit price of both cash holdings results in displaying an incorrect Market Value for these two cash holdings as well as the overall Account Market Value.

    Unfortunately, for the method allowed for linking in Quicken to Pershing, I am not able to edit/update the unit pricing of these holdings to correct the issue (and suspect that if I could, that change may be removed the next time it updates with Pershing. I suspect that the aggregator for Quicken is pulling these unwanted/incorrect values somewhere during the update to quicken. So far I am not able to determine where these incorrect unit values are coming from.
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