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Transitioning to Vanguard Brokerage Account without using One Step Update

suerivas

I have always added transactions to my Quicken investment accounts manually. I don't use One Step Update. I have searched the community posts for the best method to transition my Vanguard mutual fund accounts to my new Vanguard brokerage account, but they all seem to use the One Step Update method. Is there a simple way to to it manually? I have many years worth of transactions in each of my mutual fund accounts.

I'm just a little bit scared to use the One Step Update method since I'm not familiar with it. Just wondering whether anyone has done it the other way. Thanks!

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Accepted answers

Tom Young

The 2 Accounts listed as Brokerage Account are fine as they are, no need to do anything there except to do the Transfer Shares action.

Under the General tab of the Account Details screens for the other 3, you should be able to change that:

All comments

Tom Young

What is your file setup right now and how does the transition affect things? You say you have "mutual fund accounts" which at least suggests that you have each mutual fund in a separate Account. Is that the case, and if it is, how are these Accounts styled right now, e.g., IRAs, Single Mutual Fund, etc, and Is the transition then going to put all these separate mutual funds into one brokerage Account?

Assuming for the moment that you have separate Accounts styled as Single Mutual Fund Accounts and the transition will put all these shares into one Vanguard Brokerage Account, then the easiest thing to do would be to reverse the Single Mutual Fund aspect of these Accounts and then in each Account do a "Shares Transferred Between Accounts" action in each Account, moving the shares to the new Brokerage Account. In the new Account you'll get one Add action for each lot of each security, properly establishing your current holdings in the new Account. The transactions will remain in the old Accounts.

suerivas

Thank you, Tom.

I do have each of my 5 Vanguard mutual fund accounts as separate Quicken accounts and the transition will move them all into a new VG brokerage account. However, it looks like I mistakenly set up 2 of the accounts as "Brokerage" types. The other 3 are set up as Single Mutual Funds.

How do I reverse the Single Mutual Fund aspect of my accounts? What should I do about the other 2 accounts that are showing as "Brokerage" type?

Tom Young

The 2 Accounts listed as Brokerage Account are fine as they are, no need to do anything there except to do the Transfer Shares action.

Under the General tab of the Account Details screens for the other 3, you should be able to change that:

suerivas

That worked! Thank you, Tom!

q_lurker

For the record, I don't believe it was necessary to change the SMF account to brokerage accounts. In my test files, the SMF accounts offer the Shares Transferred between Accounts option. I am not aware of any flaw in that implementations.

Glad you got it worked out.