Fidelity accounts don't match Quicken account values.

David Vigil

After downloading brokerage accounts, the total value in Quicken does not match values shown on Fidelity website. Part of the issue may be that I recently converted my cash position on Fidelity accounts to a federal funds money market mutual fund from cash.

Jim_Harman

We will need some more detail to help on this.

Is the problem with Fidelity NetBenefits account(s) or with other Fidelity accounts?

If NetBenefits, are the accounts in Simple mode, where you see a dashboard with 4 big rectangles rather than a list of your transactions?

Is more than one account affected?

For each security in an account, the value should be the number of shares times the price per share. Which is incorrect, or are the securities OK and it is just the cash and/or money market fund that is wrong?

Boatnmaniac

Fidelity does not hold cash in brokerage accounts. It sweeps the cash into a type of savings account or most likely (because it is the default used by Fidelity) the cash is swept into a money market fund (MMF) that is called the Core Account. While Quicken will show the MMF shares held in the Positions tab it will also show it in the Balances tab as Cash.

I suspect that your account balance issue is related to how Fidelity manages and downloads the Core Fund. I would start by comparing your Core Fund holdings in Quicken to your Core Fund Positions in Fidelity.com. Also, compare the Cash Balance in Quicken to the Cash Balance in Fidelity.com. If my suspicion is correct, you will find that this is where the discrepancy is coming from.

If I am correct, you might want to read the thread at this link: Downloads from Fidelity do not included activity into the settlement fund . It documents what you can do to fix the issue and what you can do to help prevent recurrence of it.

If my suspicion is incorrect, you can do a quick comparison between Quicken and Fidelity.com by doing the following:

• Account Register > upper right Gear icon > Reconcile Shares: This will identify any discrepancies between shares held in Quicken and shares reported by Fidelity. Make note of any discrepancies reported.
• Below and to the right of the Account Register, click on the the blue Cash Balance: This will let you know if the Cash Balance reported in Quicken matches the Cash Balance downloaded by Fidelity. Make note of any difference reported here.

Let us know what you find out. If needed we can then explore other troubleshooting steps to take.