Do you use invoicing for your small business? We want your feedback! Learn More

successful stress test with schwab on mac beta, personalized direct index acct

india just
india just Windows Beta Beta
edited October 2 in Investing (Mac)

I recently closed ETF only account that auto-rebalances, moving funds to a direct indexing account. Moved 10 positions from one account, transferred about 30 positions from roboetf account, then sells and automated 400 plus position purchase that mimics SCHK etf, but allows individual tax harvesting (schwab personalized direct indexing).

Kudos to QMAC Beta, it all went off without many hitches. I don't rely on Quicken for exact basis, just approximate since I don't want to contest brokerage unless wildly wrong… at first blush it appears positions and basis transferred reasonably well so that cap gains is good enough for tax estimation.

One oddity I discovered with Schwab relative to other brokerages that may explain intermittent duplicated transactions:

Schwab posts transactions with their costs and fees almost instantly. HOWEVER! they frequently adjust those transactions later and reduce/eliminate fees. (reputation as low/no fee brokerage). As a result, I saw about 20 duplicated transactions during updates/imports. The issue: schwab removed a few pennies from a transaction in the 3 days following transaction, always as a result of reducing or eliminating fees/costs/commission. Each time a penny changed, I ended up with a new transaction.

The fix is simple, find the grayed out add transaction to match holdings in portfolio view to see which positions have multiple downloads. Find the dual transaction, then delete the earlier downloaded transaction in favor of the later finalized transaction.

I will confirm once I do the statement balancing act next week that all 500 plus shuffles went well.

My initial report with a big slug of activity ( years worth in 4 days) is success, with only one minor Q issue that is really a function of Schwab behavior.

Perhaps a minor adjustment to Quicken? when you see transactions that differ only by a penny or two with fees, but are otherwise identical. This would vary by brokerage, since not all brokerages post and later modify transactions in this manner. Just thinking out loud, not asking for a feature.

Long time user, mac only, brand new to beta testing.  NOOB.  Allin on beta.
This discussion has been closed.