Vanguard Request to "transition your mutual fund account to our brokerage platform"

BarryMo
BarryMo Member ✭✭
edited July 2022 in Investing (Windows)
Getting this popup when I access my account via the web. What are the implications for Quicken users? There is no information on what happens to history, account numbers, etc.
___________

Transition your account today

Please take a few minutes to transition your mutual fund account to our brokerage platform.

Best Answer

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited May 2022 Answer ✓
    At Vanguard, you will have a new account and your current holdings will be transferred there.

    In Quicken, you have a couple of alternatives. One is to mimic what happened at Vanguard and use a Shares Transferred between Accounts to move your current holdings to a new account. The historic transactions will remain in the old account. This is a good alternative if you have thousands of transactions in the old account and performance has started getting sluggish.

    The other alternative is to continue using the old account in Quicken. You will disable online services for that account, change the account number to match the new account, and connect it to the new account. Be sure to choose the "Link" option to connect to the existing Quicken account.

    In either case, you should delete or not accept any downloaded transactions associated with the transfer.
    QWin Premier subscription

Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited May 2022 Answer ✓
    At Vanguard, you will have a new account and your current holdings will be transferred there.

    In Quicken, you have a couple of alternatives. One is to mimic what happened at Vanguard and use a Shares Transferred between Accounts to move your current holdings to a new account. The historic transactions will remain in the old account. This is a good alternative if you have thousands of transactions in the old account and performance has started getting sluggish.

    The other alternative is to continue using the old account in Quicken. You will disable online services for that account, change the account number to match the new account, and connect it to the new account. Be sure to choose the "Link" option to connect to the existing Quicken account.

    In either case, you should delete or not accept any downloaded transactions associated with the transfer.
    QWin Premier subscription
  • BarryMo
    BarryMo Member ✭✭
    thank you!
  • BK
    BK Member ✭✭✭✭
    A few years ago I transitioned mine too.  I handled it in Quicken using the second option that @Jim_Harman suggested and worked flawless, less work, not messy, and little to no chance of errors and mistakes.
    - QWin Deluxe user since 2010, US subscription on Win11
    - I don't use Cloud Sync, Mobile & Web, Bill Pay/Mgr

  • meinhardg
    meinhardg Member ✭✭
    edited June 2022
    Used second option, worked! Very disappointed that Vanguard had no answers or even wanted to talk about it - happen during Transfer to Brokerage Account. I tried it before by changing the Account number only - did not work! Have to Deactivate Account and re-Activate with new Account Number.
This discussion has been closed.