Pershing LLC accounts cash holdings with incorrect unit price in Quicken

ScottyG

I have an issue in Quicken Premier Mac for several Pershing LLC investment accounts. On my accounts at Pershing, they use the symbol of PGR as their “Pershing Government Account" and has the type as cash. Appears Quicken is seeing that PGR symbol as Progressive Corp, which in this case is not correct. Basically on my Pershing accounts linked in Quicken, the accounts that have a cash holding under their PGR symbol show a unit price on that holding as "1.00", but in Quicken they show the unit price for Progressive Corp which is incorrect in this case. A couple of accounts also have a holding "Cash", but that has the same issue. All of these on the Pershing side show a unit price of “1.00”, but Quicken is ignoring that unit price from Pershing and instead using the unit price of Progressive Corp. Since the unit pricing on these is another number other than "1.00", it results with Quicken displaying an incorrect Market Value for these individual cash holding as well as the overall Account Market Value on 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.

2) Pershing LLC linked IRA Investment account, unit price for cash holding incorrect:
Holding symbol “PGR” (“Pershing Government Account”, 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.

3) Pershing LLC linked Roth Investment account, unit price for cash holdings incorrect:
Holding symbol “CASH” and symbol “PGR” (“Pershing Government Account”, 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”.

Unfortunately, the method allowed for linking in Quicken to my Pershing LLC accounts is limited to “simple tracking”, so 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 also believe that the aggregator for Quicken is ignoring or does not use the unit price of these holdings from Pershing's side during the update to Quicken... if it used the unit price shown on Pershing I think that would resolve the issue.

Jon

PGR is indeed the ticker symbol for Progressive Corp. Pershing shouldn't be using it for some other investment, even if it is something that isn't publicly traded on the market.

I'd suggest trying to change the symbol Quicken associates with those investments. Open the Securities window, find the ones with the "PGR" symbol, and change it to something unique (but do a Google search on it first to make sure it isn't a real ticker symbol) toes if that fixes things. You'll probably have to edit the price history to remove the old incorrect prices.

ScottyG

I agree Jon, Pershing's use of the ticker for Progressive for this type of holding is a bit odd, to say the least. Thanks for the info and tip... Didn't notice before that I could get to the location of editing this one until you pointed out using the Securities window. I'll have to see if I can work something out.