Fidelity NetBenefits (QWIN)
Answers
-
I'd think most people would agree that software development today is far more complicated than years past. I would have thought (naively I guess) that Quicken has regular and effective communications, with the bigger firms at least, to exchange information when software updates are coming (on either side) and at a bare minimum basic functionality (which this issue is) is rigorously tested before roll out and release.0
-
I suspect that these kinds of issues are going to become more common in the future as financial institutions work to improve data protection (a good thing) and data aggregators and services like Quicken try to keep up with various new protocols.
See Fidelity's "always enhancing" terminology:
0 -
As a reminder, you'll want to bookmark this page for updates as they occur:
2 -
Same problems as everyone else. I also agree that it's a Fidelity problem. My wife's account in the same Quicken file does connect while mine does not. I also see a sync error for only my accounts in my Sigfig.com data.
0 -
On the continuing saga of this issue, which I fully believe is Fidelity's changes causing unexpected consequences. At Fidelity NetBenefits I have two accounts - one is my company 401k, the other is a BrokerageLink account linked to that 401k. The BrokerageLink account will not update at all. Won't even show me the account number as a potential new account if I try to go that route. The 401k account is downloadable -- but with severe issues (in my case). I downloaded, there were no new transactions. There should not have been. So far so good. I look at a composite balance of ALL my accounts, many NOT at Fidelity and the day over day gain is astronomical, and the absolute value had tanked. I started digging around, the Fidelity 401k download that went well, updated random (I did not look for any pattern) prices for securities --- to $1. Well naturally that made the day over day gain look pretty big. I also have one account that I manually update once a week on Saturdays. The download changed securities in that account to $1. The impact being it was not a day over day change, but a day over Saturday drop in value. It was easy enough to find all the instances and delete all the $1 prices that got recorded for 3/14/23. But it is not something I will want to do again soon.
Fidelity just needs to inspect the download data from their OFX feed for NetBenefits. It is quite obviously and repeatably WRONG. Wrong data will be imported by Quicken, if at all. Inspect the OFX downloaded data FIDELITY!0 -
Sadly enough, I am tired of seeing all the comments, so I will need to unwatch this post. Fidelity knows of the issue and is working on it. Fixes take time, epsecially when working with other entities.
0 -
update directly from Quicken - although not overly helpful...
UPDATE 3/15/23
We do not have an ETA at this time for a resolution for this issue, though our teams continue to work towards a solution. We apologize for any inconvenience and thank you for your patience.1 -
Quicken Anja just posted an update to her previous announcement from 3/8 basically saying the Q team continues to work on the known Fidelity NetBen issues and they still have no ETA for resolution. I think I will also sign off of this thread and continue to watch the Quicken Anja post.1
-
> @JDOB28 said:
> I'm very close to dumping Q for something else, but really don't want to deal with the hassle of transferring everything over. I've got too much invested (history wise) in Q to just dump and run. Very frustrating!!
It is a little pain at the beginning and then learning what the capabilities are and exactly how to use a new financial software. I changed to MoneyDance by Infinitekind more than 5 years ago because I, too, had finally had enough frustration. I can't imagine how I'd be feeling if I was in the subscription model! But, MD and Infinitekind, do make it as painless as possible to move from Q to their data structures. Is it perfect? No. Is it workable? Yes. Depending on how complex your accounts and categories are, the effort could be bigger than it was for me. But I have never regretted making the change and I would NEVER consider returning to Q. The developers are very responsive to any issues that crop up. For the record, this problem does not exist in MD (for me). There is one thread with 16 responses on it for a problem that surfaced in December 2022. And that was with a download connection with an outside link (called Plaid I believe). This service is a $2/month cost if you own the MD program, but it downloads from thousands of institutions, even those that do not have OFX connections. If more and more institutions move away from OFX downloads, it is definitely something I would consider. Still less than the $66 per year subscription with Q that I've heard referenced. You do have to give up sending payments through any outgoing connection, something I've missed. But I've come to live with it. It makes it more palatable that more and more vendors are allowing payment options from their websites AND often allow the use of credit card (for cash back purposes!).
All in all, YMMV. But there is an alternative as much as Q would like everyone to believe there is not.1 -
I'm having the same issues with OL-220 since Jan 27 with R48.9. I just paid for a lot for a renewal for a program that doesn"t work. I'm fed up. I don't need more bells and whisles, I need a program that works. Anyone know of a program similar on windows to switch to.
0 -
> @poff said:
> I'm having the same issues with OL-220 since Jan 27 with R48.9. I just paid for a lot for a renewal for a program that doesn"t work. I'm fed up. I don't need more bells and whisles, I need a program that works. Anyone know of a program similar on windows to switch to.
Moneydance from Infinitekind. My email is visible if you want more info.0 -
> @LQLA said:
> > @JDOB28 said:
> > I'm very close to dumping Q for something else, but really don't want to deal with the hassle of transferring everything over. I've got too much invested (history wise) in Q to just dump and run. Very frustrating!!
>
> It is a little pain at the beginning and then learning what the capabilities are and exactly how to use a new financial software. I changed to MoneyDance by Infinitekind more than 5 years ago because I, too, had finally had enough frustration. I can't imagine how I'd be feeling if I was in the subscription model! But, MD and Infinitekind, do make it as painless as possible to move from Q to their data structures. Is it perfect? No. Is it workable? Yes. Depending on how complex your accounts and categories are, the effort could be bigger than it was for me. But I have never regretted making the change and I would NEVER consider returning to Q. The developers are very responsive to any issues that crop up. For the record, this problem does not exist in MD (for me). There is one thread with 16 responses on it for a problem that surfaced in December 2022. And that was with a download connection with an outside link (called Plaid I believe). This service is a $2/month cost if you own the MD program, but it downloads from thousands of institutions, even those that do not have OFX connections. If more and more institutions move away from OFX downloads, it is definitely something I would consider. Still less than the $66 per year subscription with Q that I've heard referenced. You do have to give up sending payments through any outgoing connection, something I've missed. But I've come to live with it. It makes it more palatable that more and more vendors are allowing payment options from their websites AND often allow the use of credit card (for cash back purposes!).
>
> All in all, YMMV. But there is an alternative as much as Q would like everyone to believe there is not.
I find it interesting that you converted to a new program but still follow issues on Quicken?? Do you represent MoneyDance in some way?0 -
Because MoneyDance has been advertised several times during this thread, I decided to check it out. Started with their list of Financial Institutions (FIs) at https://infinitekind.com/fi
I have 17 FIs connected in Quicken. Only maybe seven of there FIs are on the MoneyDance list. So, MoneyDance not right for me.
0 -
@tbrandvold No, I have no representation of/with Moneydance. It has simply worked for me. Why am I here then? 99 times out of a 100, when I have a problem with one of my two financial programs and talk to the financial institutions to solve them, they won't even give me the time of day until I say it is a Quicken problem and here is the evidence. Now mind you, about 80 times out of that 99, they then respond with "that's a Quicken problem, talk to them." I also use it to troubleshoot. If I have a problem and Quicken is not having it, I immediately begin a thread/conversation with the two program developers/message boards. It helps a LOT, if I say no-one on Quicken has seen this problem.
@mvwabc By all means with 17 FIs, 10 of which are not on the list of 1325 institutions they DO have OFX (direct connect in Q language) your financial situation is probably not worthwhile the lack of Direct Connect you would have to give up. I'm not here to sell MD. But after nearly 10 years of Q pain, I took the leap and left. It worked for me. If you believe it doesn't work for you, by all means continue with the subscription model and the (at least for me) constant headaches with downloading transactional information on all of the FI's that Q supports (but has problems with??? I guess???). Wasn't for me.1 -
Moneydance plus appears to also be a subscription service just like Quicken. Best I can tell about 60/year in order to download financial data. And it uses Plaid. Plaid has sold customer data and lost a big lawsuit. I personally don't like the delay with fixing this issue (regardless of who caused it) but in over 20 years with Q have never had security concerns.
https://www.courthousenews.com/judge-approves-settlement-ordering-plaid-to-pay-58-million-for-selling-consumer-data/0 -
@Mark Sanz Thanks for that link. Quite informative. I am not a fan of using MoneyDance+ (the Plaid downloading) as I thought it was too fraught with potential issues, new tech, etc. The fee is $5 per month if you do not own/link it with a licensed copy of MD. It is $2 per month if you do. Either is 100% opt in. The 1325 FI's they do list, actually use the OFX standards and provide the service. Many do not do this. Some charge for that service (Wells Fargo just dropped their charge for the service about 2 years ago). Unfortunately, some are abandoning the service to use their own internal app or website - none of which work together with other FIs. Bank of America is the most recent example of this (about 4-6 months ago). I have deep European business roots over the last 10 years, and trust me, I am more paranoid than a few about data security and personal privacy. I do not use MD+ to download my transactions, only OFX connections. It is free at the FIs that I use. If and when they move on, I'll have to make a decision at that point regarding transactional downloading.
Again, thank you for the link.0 -
Fidelity Netbenefits download hasn't worked for me since early last week. Went thru all the 'motions' - reset acct, tried next day, etc. Deacativated, tried setting download back up, did not work. So at end of week last week tried long shot - deleted acct and trying to add new acct. FAILS. says it's not anything I did. So still not working and 2 calls to Quicken tech support - lots of time on hold, in queue then NO real answer as to when issue will be resolved - says thats a different department ……………. so we WAIT in limbo with NO useful information as to when Fidelity and Quicken will resolve issue. I guess with continuing issues w/downloads from time to time I may just need to look at alternatives to quicken (which I've been using 20 plus yrs).
0 -
The updates from Quicken are not helpful. It would be nice to have transparency since we pay for your software.
- Is this a quicken problem or a fidelity problem
- What steps are being taken to resolve the issue
- How often will you be communicating updates
0 -
Maybe the only good thing here is the message board at least you know this is a problem everyone is having.
Quicken outside of having this message board appears to be failing.
0 -
I am a retired software professional (who is also having this problem), and the information in this thread is sufficient to convince me that it's at least a 99% chance that it's a Fidelity NetBenefits problem. A likely, but by no means certain, cause is the lack of standard (or, in many cases, any) symbols for NetBenefits' proprietary funds.0
-
Has anyone noticed when updating that now the regular Fidelity accounts are gone?
0 -
At least for the past 9 days I have only been unable to work with my Fidelity Net Benefits accounts.
Today I noticed that my regular Fidelity accounts are no longer updating either.
So out of all my accounts, only 1 bank account is updating now as everything else is Fidelity.🤬
0 -
> @BrittMayo said:
> I am a retired software professional (who is also having this problem), and the information in this thread is sufficient to convince me that it's at least a 99% chance that it's a Fidelity NetBenefits problem. A likely, but by no means certain, cause is the lack of standard (or, in many cases, any) symbols for NetBenefits' proprietary funds.
It is not only the proprietary funds that are preventing downloading. NetBenefits (Fidelity's Retirement Group Services side of the business) also is responsible for what is called BrokerageLink accounts. Those are accounts that trade in regular securities, but due to 401k regulations are required to be managed and linked to the base 401k. So if I want to move x shares of y security - I have to sell y security, move cash from the BrokerageLink account to the 401k account; move cash from the 401k account (convert to IRA) to my rollover IRA; repurchase said security in the rollover account. Every step of the way has a 2 day clearance period. UGGGGH!
All that said, I have AAPL in a BrokerageLink account. Cannot download price data, dividend data, or transaction data if I sell or buy. Fidelity BrokerageLink (Retirement Group Services) is broken. Something they need to fix.0 -
> @Tony Luers said:
> Has anyone noticed when updating that now the regular Fidelity accounts are gone?
All of my Fidelity Investment accounts are still currently downloading.0 -
There are two accounts for me on Netbenefits.
One is on the Netbenefits side, while the other is on the Fidelity side and is setup as a 401K brokerage account. That 401K account is accessible on Fidelity.com, while the former is accessible on Netbenefits.com.
I was able to get 401K account working again by deactivating both Netbenefits and Fidelity 401K account, and then only reactivating he 401K account.
This functioning 401k account broke as soon as I tried to reactivate the Netbenefits account.I'll leave it broken, and let Quicken and Fidelity figure it out.
0 -
I have the same issue since 3-10-2023.
1 -
Any update on the issue related to the inability to download my transactions from Fidelity NetBenefits. It worked about a week ago and now receive an error.
0 -
Same thing here, going on a week.0
-
Hello: I'm having the same problem. I'm not able to download transactions for my Fidelity 401K. Frustrating. Any suggestions? Mary
0 -
Mary - from this thread you'll see many things have been tried by users, none of which work. Issue requires Quicken working closely with Fidelity to resolve. No estimated time for resolution has been provided by either at this time. Frustrating....0
