Fidelity retirement account duplicated all transactions
Answers
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#1 Thanks Rick0 for your good research. I'm pretty computer savvy, but a fund merging newbie!
It worked for me as well but get this scary message afterward when trying to remove the ‘ 2" from fund names…
“Quicken cannot find this security
Quicken cannot download price information for this symbol.
Price History for this security will have to be updated manually.”
Then follows two button choices… Cancel or Use as Symbol.
For now, I’m leaving the 2 on name.
Yes, one should always make a backup before beginning! and I wish Quicken Support would formally bless Rick0's method and write it up, taking responsibilty.0 -
Rick0, do you know what's going on with my previous post re: scary message, removing the 2
from fund names?
Did you fix name(s) as easy as clicking cancel, or use as Symbol there?0 -
For me, the new funds had no symbol, and the fund names were the same, but with a 2 appended to the name (see screenshot).
I merged into the new fund (the one with the 2, without the symbol), confirmed that balances and price histories were back to normal, and that the “Add Shares” entries had disappeared.
After confirming that the fund symbols had NOT changed at Fidelity, I then added the fund symbols back and removed the 2 from the fund name in the Securities window.
Balances after subsequent Quicken updates have remained stable.
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I deleted the account and re added it and that seems to have worked!0
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I had the same issue with duplicates and followed instructions by @T-Bills on the OL-220-A error thread even though I wasn't getting the error, just the duplicates with one exception, my 401k & 403b does not appear as an account using Fidelity Investments Mac Institution anymore, so I found an older Fidelity NetBenefits Institution that only downloads my 401k & 403b accounts. All other accounts (HSA, IRA, Roth, ESPP...) downloaded using the Fidelity Investments Mac....
"As Ben stated, the 401k accounts through Netbenefits seem to be a problem. I had two 401k accounts at Fidelity which was complicated by both of us working at the same company (account identifier was the same). I had to change the number on one of the accounts to update the other and vice versa. Thankfully, we both retired so I rolled over the 401k's to regular IRA's in February. Then I inactivated and hid the 401k accounts in Quicken. Even with that, I still had the OL-220-A error for one set of accounts/userID. The steps that I used to finally resolve the error are listed below. Always make a backup prior to these changes, I messed up once and had to start over from the backup file.
Deactivate online services for the accounts that error.
Change the account number on each of these (I added “old” to the end of the number so I could keep them straight).
Select File, Add Account. Search for and select “Fidelity Investments”. **Note by BrianG - I had to use "Fidelity NetBenefits" as my 401k & 403b didn't show up as accounts under Fidelity Investments Mac anymore.
Enter UserID/Password, the accounts associated with the UserID should be listed; from the dropdown, Add to Quicken (do not link to the existing accounts in Quicken).
The previous 90 days of transactions download.
Set up the online services for the new accounts and test.
If the transactions look correct and the downloads work, you are all set.
You can stop here unless you want the previous transactions from the old accounts added to your new accounts.
Make another backup.
For each new account, note the Opening Balance and establish cash balance transactions.
Open one of the “old” accounts, select Move Transactions from the little gear in the upper right.
A popup window will appear listing all of the transactions. Select all, then scroll to the most recent transactions that have already loaded in the new account, uncheck these.
IMPORTANT: Select the appropriate new account from the dropdown listing of accounts or the transactions will move to the wrong account.
Once complete, open the new account and delete the Opening Balance transaction and the establish cash balance transaction that you noted in step 1. These are duplicate.
Verify your balances and holdings are correct compared to your online accounts.
Test the new accounts are updating without error.
This worked for me. I'm not positive that the 401k accounts were the issue. But my decades old issue has been resolved through many hours of trial and error."0 -
Same issue for me on with having the (2) . I used the Merge Securities function and worked fine. Back to normal0
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I also merged the duplicate securities, then hit the update button and everything seems normal now. Just make sure you look at your fidelity account to see what securities you have, so you merge things correctly. Only took me 5 min to get my account back in order. Here is help on how to merge securities... https://help.quicken.com/display/MAC/Merging+securities#:~:text=To merge securities,and select the second security.0
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I also merged the duplicate securities, then hit the update button and everything seems normal now. Just make sure you look at your fidelity account to see what securities you have, so you merge things correctly. Only took me 5 min to get my account back in order. Here is help on how to merge securities... https://help.quicken.com/display/MAC/Merging+securities#:~:text=To merge securities,and select the second security.0
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Thanks RickO!!!
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Same issue here, merging fixed it.0
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Just to add some additional information... I am using Quicken for Mac, latest edition. I had the same issue beginning this morning with downloads from Fidelity Netbenefits. It's not recognizing the shares that I have in the account. So it added placeholder "Add shares" transactions at the very beginning date of the account. The adds were the same funds I have and the same number of shares I have.
I don't have the issue of it added securities with a "2" at the end - it didn't add any security symbols for the added transactions - it wants me to treat them as "missing cost and acquisition date" transactions.
I can delete the "add shares" transactions and then my total shares/balance is correct. But quicken puts the "missing transactions" back in every time I download.
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In early March all the holdings in my Fidelity NetBenefits 401k's started showing up doubled in Qucken for Mac. In Portfolio view there are two line items for each holding, but no transactions adding shares.
Is there a way to resolve this without losing years of history… which is part of the point of using Quicken in the first place?
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I am running into the same issue with two Fidelity Netbenefit Accounts on Quicken for Mac.
It is creating new securities and adding transactions. ie SS GACEQ EXUS IDX is one of my original securities and when I sync there are duplicate transactions with SS GACEQ EXUS IDX II.
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Sorry, the specific example should be SS GACEQ EXUS IDX II turning into SS GACEQ EXUS IDX II 2 or SS GACEQ EXUS IDX II 3.
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This looks like a dupe of the thread here: NEW 3/9/23 Fidelity NetBenefits - Duplicate Securities
Note that the "Merge securities" fix identified by RIckO at least partially address the concern. You end up with a single security showing what appears to be the right value, but my testing shows a significant variation in price history for FID EXT MKT IDX on Oct 19, 2022 where that was off by about 50%. Consequently, I'm wathing …Official alert from Quicken that you can bookmark to receive updates (no fix yet):
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> @RickO said:
> I downloaded my Fidelity accounts this morning and I'm not seeing this. I have a very large number of fund and individual stock holdings. I'm thinking it may be only affecting certain securities. I'm also wondering if it's because the symbol on these particular securities changed. I'm not seeing in the reports above how the symbol of the duplicate security differs from the original.
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> If the number of duplicates isn't too huge, you can probably fix these manually by merging the securities:
Thanks, RickO, I tested this out and it does result in a single security showing the right value.
HOWEVER, I did see that this approach adversely impacted the portfolio value history unexpectedly. Specifically, I merged two securities for FID MKT EXTD IDX and saw that portfolio value history
a) dropped by the full amount of the duplicate on Mar 7, 2023, (as expected), but also
b) dropped by the value of the original security historically.
IOW, after the merge, total portfolio value as of Jan 1,2023 was off from Fidelity online statement by the value of that security.
Curious if anyone who has applied the merge solution validated has seen a discrepancy in their Fidelity portfolio value between Quicken and what you can find on Fidelity.
FYI, I reversed the merge and am now waiting on the Alert to be updated.0 -
I'm hoping for a comment from the Quicken team today, whether we can expedt this to be fixed by them (and/or Fidelity) or if we're going to have to do this manually as described above? Really hoping it can be fixed properly so there's no issues with amounts and loss of historical data.
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I just ran an update and my retirement account value jumped by a few hundred thousand dollars. Looking closer, I see Quicken just recreated all the Fidelity retirement accounts I have with new names and duplicate values, e.g. a new "FID 500 INDEX 7" in addition to my previously existing Fidelity 500 Index Fund Institutional Premium Class". This just happened in the last couple of days.0
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Most of these questions are a week old. What is the status of a fix? I was told to try a backup and I did. As soon as I ran the refresh Quicken duplicated all the holdings in the Fidelity accoutns. I took a 40 question survey today on the topic of Backup. It had a dozen options asking why I need a backup. The ONE IT MISSED is becasue there are bugs in the Qucken app and when Quicken blows up and corrupts my financial data the tech gives the same instruction. Reload your backup. Well great, but the problems are in the Quicken app so the backup at that point becomes worthless. With 40 question Quicken is obviously aware backup is important but withou functiong application code is useless. The PROBLEMS NEED TO BE FIXED. It used to be Schwab, AMEX was a total nightmare and now Fidelity. I have lost hundred of transaction history because Quicken is not stable. You ask what other function would I pay for - How about you deliver a basic working app. To much focus on adding and not enough focus on removing bugs and increasing stabilty.
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Same issue here. I mean, it looks like a really good day on the market with my account values doubling overnight, but we all know that's not true. Even tried restoring from a backup, deleting and reconnecting, etc. None of which resolved the issue. In fact, with the delete/re-add connection method, some of the assets in the 401k were entirely missing, showing a lower balance than what should be there.
C'mon Quicken, get with it.0 -
PSA - Workaround to exclude the Fidelity retirement account from "Retirement" and "Investing" summary portfolio views...
I've tested on latest version of Quicken for Mac Deluxe and this is completely reversible.
(I can't speak to earlier version, Windows, or Online)
1. Make a Backup just in case
2. Select the Fidelity retirement account that is showing duplicate holdings
3. Select Account > Settings... from menu or right click and select "Account Settings ..."
4. Tick the option to "Keep account separate ..."
5. Click "Save" button.
This effectively "quarantines" the account in question in the "Separate Accounts" list so it won't overstate your summary portfolio values. Meanwhile, you can still sync it w Fidelity for latest transactions while we wait on a fix from Quicken/Fidelity.
Cheers, L.0 -
I not only have duplicate transactions in a Fidelity 401K account, now that this issue is lingered over a pay period 3.15 my withholdings for 401K contributions are being allocated to the "bogus" asset that was duplicated. I would imagine this will further complicate any path to resolution in my Quicken historical activity.
On top of all this mess, my wife's 403B Fidelity account is syncing with Fidelity and representing that there are NO assets in the account portfolio, which is NOT accurate.
I have been a loyal Quicken user for over 15 years. I have never been more dissappointed in the appication than I am today. Sad.
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Based on the "quick" action being applied to fix this aging problem, Quicken should rename the product. Suggestions: Not so Quick. Yeah, when we get around to it. Not so fast. This page intentianally left black.
If the Quicken execs want an appreciation of why we are frustrated, contact your Tech support. If after a trip through all the options and a long hold you find a tech who is aware there is a problem, ask them for the status of a fix. Just for grins, get a view from our end.
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Here's what worked for me... delete and re-add the account, but use one of the different Fidelity 401k options.
There's one called "Fidelity 401k", and another one called "Fidelity Mac", and another called "Fidelity Netbenefits". Only that last one worked properly and showed all the correct assets without duplication. The weird thing is that "Fidelity 401k" goes to "401k.fidelity.com" and the "Fidelity Netbenefits" one goes to "401k.com" - which is a Fidelity registered domain. The first one left some asset holdings out of the list. The second one duplicated all the asset holdings causing massive statement errors. And the third one did everything right.0 -
I continue to have this issue as well. I deleted the bogus transactions but the next time they updated, the bogus holdings came right back. And now since a pay period as occured, there have been new purchases allocated to the bogus holdings. Please fix this Quicken.
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I had same issue, all accounts doubled. I deleted Fidelity and readded and now there is no syncing at all.
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I have the same problem over the past few days - doubling. I pay for an annual mac subscription and don't want to expend a lot of time on this. Please get it together quicken re: fidelity 403B accounts.
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This happened to me as well. I tried merging and it kind of worked. I merged and added the ticker to the security. I am still having a problem with a fund in an old 401(k) which I can't find a ticker for so if I manually update that works. However, I don't pay Quicken to MANUALLY update anything. And this entire process was MANUAL and error prone, not what I expect from Quicken. I did try to delete and re-add but then I lost the entire history for account that I have entered each and every transaction as they came in so that didn't seem like a fair trade. So when I restored from backup and reverted that somehow did something to my Quicken cloud account (which I never use because it it horrible) and then I had to reconnect several account. The entire process has taken way too much time and is frustrating. Quicken should do better. There are so many thing that it does that is completely annoying I am now shopping for a different personal finance solution. Any ideas? I have used Quicken since the 1990s and I acknowledge that Quicken for Mac is just not as good as the PC version but I was willing to put up with it but that is just not working for me any longer
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I am having this problem also. I have the 401k account setup to download as "Fidelity Netbenefits". Since the last two updates to Quicken it has added a single transaction dating back to Sept 2014 adding the current number of shares for one specific holding, Nationwide's Guaranteed Fund to the account. Essentially doubling my positions. It is an Add Shares transaction with the total number of shares and wants the cost for that single transaction. Every time I download I have to delete this transaction to make the costing and positions correct. What is going on? I have other Fidelity accounts that do not have this problem. Version 6.12.5 (Build 612.47953.100) Mac macOS 12.6
Apparently this was supposed to be fixed according to the release notes:
There is another thread tracking this issue:
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Merging simply moved the doubled securities into a single fund, with the doubled balance. Very disappointed - would hate to lose the history by having to delete/re-add the account.0
