Investment Account Moves under a Trust

r-e-l

I have number of investments accounts. Some of those investment accounts were moved by the financial institute to go under the Trust. That means, they created a new account.

I dont want to lose all the history of the account while it was under my name. I would like to "append" to the personal account, all the transactions from the new account under the Trust.

Here is how I was thinking of doing it:

1) for all the accounts that were transferred under the Trust - Disable the online setting.

2) The "add new account" for the same financial institute. The "wizard" shows all the new accounts of the trust.
3) Map the new account to the old account and choose the option to "Link"

Will this work?

I am running into issues (getting different balances and quicken add all sort of transactions (orange pen) that I am not sure where they are coming from. So want to confirm if this is the right path.

Chris_QPW

How successful this will be, (or how much of a pain) really depends on what the financial institution actually does in the background. It is really a question of "duplicate transactions" or not.

The procedure you are suggesting is exactly how it best works for getting a replacement credit card. Normally what the financial institutions does is just change the card number, and as a result the unique Ids that Quicken uses to determine if a transaction is a duplicate or not, don't change. So, with that there are now duplicates.

But with other kinds of account changes this might not be true, but even then, it shouldn't be a big deal. I would suggest making sure the account is reconciled so that at a minimum you can always look at the reconcile status to know which were already there on your first download to decide on what needs to be deleted as a duplicate if need be. You can also use the New status on the transaction for the same purpose.

r-e-l

thanks Chris … wish I could set a date for download … we know the date the transfer took place and then I would simply download from that date. that said … its all fairly new so even if there are dup … it will be fast. I like the reconcile tip …

q_lurker

@r-e-l That is pretty much the path I used with transitioning my Vanguard accounts from Mutual Fund accounts to brokerage accounts. Since your trust accounts at your brokerage are new accounts there, there should not be duplicate historical transactions coming in. I would expect the only transactions coming in with those new accounts would be some form of Add Shares. Since you already have those holdings in your former personal - now trust - Quicken account, you should just need to not accept those new "Add Shares" transactions.

Naturally, you'll have a backup on hand before proceeding to far.