Quicken is not downloading Fidelity BrokerageLink transactions

Sunny_FL

I've been successfully downloading transactions from Fidelity NetBenefits for my workplace 401K for years. Last week, I added a Fidelity BrokerageLink account as part of my 401K. When I download transactions, the transactions in the BrokerageLink account are missing. After googling and not seeing a clear answer, I called Fidelity and they said Quicken is addressing this known issue with no estimated time of resolution provided to Fidelity. Is this true, how long has it been an issue, and is there an outlook date for resolution?

Boatnmaniac

There is a posted Alert regarding a Fidelity NetBenefits connection issue with server connection errors. Not sure if this might be related to the issue you are seeing.: ONGOING 3/22/23 Fidelity NetBenefits - OL-220

Sunny_FL

Thanks for responding. Yes, I had seen that, and was getting those errors trying to download my standard 401K transactions from NetBenefits a few weeks ago. But that appears to have been solved a couple weeks ago as the error messages disappeared and that started workgn fine again. The issue I'm having now is specifically for my new 401K BrokerageLink account. It's not downlaoding the transactions and I'm not getting any errors.

Ps56k2

What is this - Fidelity BrokerageLink -
https://www.brokerage-review.com/ira-account/401k/fidelity-brokerage-link-review.aspx

Is it setup as another Quicken Account, or ??

Boatnmaniac

https://community.quicken.com/discussion/comment/20352821#Comment_20352821

I am wondering about that, too. It sounds like it is a brokerage account inside of a 401K account. I don't think Quicken can accommodate that unless Fidelity were to download it as a separate 401K brokerage account. It's new to me and I've not heard of anyone trying to set up this type of account in Quicken before.

Edit: Added comment - I just did a search for "brokeragelink" and there are several posts going back to 2016 about problems getting it set up for downloads. For 7 yrs it is not a lot of posts but still I'm surprised that I don't recall seeing any of them before, especially since I usually keep an eye out for anything related to Fidelity. I haven't read through them yet but I'll probably do that tomorrow to see if anyone got it set up and how they did it.

Sunny_FL

Here's an update. I added the BrokerageLink account separately, set it up for automatic downloads, and it worked. So now when I manually select "download transactions" for either my standard 401K account or the BrokerageLink 401K account, it downloads them for both. There's a single login/username/PW for both accounts (since they're both with Fidelity), and I had just assumed that since I already had the Fidelity login set up for the existing standard 401K account, that it would pick up the new BrokerageLink account as well (and this is what I thought the Fidelity rep was saying). I guess that's not how it works. There are some nuances with transfers between the accounts (selling funds in the standard account to invest in the BrokerageLink account) that it appears I have to do a bit of manually editing for, but downloads appear to be working. Fingers crossed that it works smoothly as I do more buying/selling in the BrokerageLink account. Thanks for your responses!

Boatnmaniac

Thanks for the update, @Sunny_FL . I'm glad to hear that you got it working.

Something to keep in mind: Whenever one wants to set up a new account for download into Quicken, regardless of whether there is already another account already set up in Quicken or not for that financial institution, the only way to accomplish that is to do another Add Account or Set Up Now for that financial institution. Then you will be given the opportunity to Add the new account or Link it to an existing account (if there is an offline account already set up for it). The new account will not automatically start downloading just because there is another account already set up in Quicken for download. This is because Quicken needs to go through an actual account setup process for each account before downloads can begin. This is true for any type of account or finanial institution.

Ps56k2

what Fidelity name did you chose when setting up the new Add Account ?
Was it Fidelity or Fidelity NetBenefits ?

Sunny_FL

NetBenefits