Just added Fidelity NetBenefits and the info downloaded is incorrect

Kardinalcc

Hi there,

I'm on Quicken Deluxe and just added NetBenefits to track 401K in Quicken. I set up online access and everything seems to have worked fine. However, the number of shares that Quicken shows is 2x what it actually is. There's also a "cash" balance that is the same as the sum of the investments, which shouldn't exist. So in short the value of the account is basically 4x what it actually should be. Even more interesting is the fact that the balance show in the left hand NavBar is just the value of the investment or half of the account, while the "Total Value" on the account page still shows the 4x value. Is this something Quicken will "resolve" itself? Or is there some setting I need to change?

Chris_QPW

If you are using Simple investing mode, that is why you are having these problems.

From the day they created Simple investing mode Fidelity NetBenefits has been wrong, and Fidelity hasn't ever fixed it (and from what I know, only they can fix it).

When you are downloading there is two sections, the transactions which is what the Complete investment mode uses (and has been for decades). The Simple investing mode uses the "summary information" that also is sent. It contains the number of shares and the cash balance. In the case of Fidelity NetBenefits, this information has never been correct.