What to do with brokered CDs from Schwab downloading as bonds

oc_steven
oc_steven Quicken Mac Subscription Member ✭✭
edited April 2023 in Download, Add/Update Accounts (Mac)

Brokered CDs held at Schwab download in Quicken as Type:Bond and Asset Class:Domestic Bonds. Shouldn't they download as Type: CD and Asset Class:Cash?

I'm wondering if I should manually change the Type and Asset Class after they are downloaded, or just leave them as is? Will changing them affect future reporting when the CDs mature?

Is this misrepresentation of CDs something that Quicken and/or Schwab plan to fix?

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Comments

  • Jon
    Jon Quicken Mac Subscription SuperUser, Mac Beta Beta
    edited March 2023

    I don't know, in a lot of ways a brokered CD is more like a bond than a regular CD. It has a market value, and that value goes up & down in response to interest rate changes, and the only way you're guaranteed to get face value is to hold it to maturity. The main difference compared to a bond is that the brokered CD has FDIC insurance and the bond doesn't.

    I'd leave it as it is.

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