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Changed broker but invented my own method.

speedlever

I recently changed my broker from Schwab to Fidelity. I have various IRA, Roth, and an old ESA (Coverdell) accounts at Schwab. I created new accounts in Quicken for the Fidelity stuff, but failed to use the option for shares transferred between accounts, so I have more or less double my actual investment account activity showing since the Schwab info is still there.

Is there an easy way to clean up my mess?

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Tom Young

Did you simply entered "gross" security information by the use of one "Add" action for each security, or did you Add lot-by-lot the details for each lot, for each security?

If the former, I'd simply delete those entries and use the Shares Transferred Between Accounts action to get all that detail into the new Accounts. If the latter and you've checked that everything is correct, I'd do Remove actions for all those securities in the old Accounts, and then close those Accounts.

There's also the option of abandoning those new Accounts and switching brokers in the old Accounts to the new broker by disconnecting those Accounts, deleting the Financial Institution and Account Number in those Accounts, and then connecting them to Fidelity.

speedlever

Thanks Tom. It looks like I did the former as the info under holdings for each security shows the date I made the swap, not the date I actually bought it. So it sounds like I need to go to each new Fidelity account and delete all the entries, then do the STBA action.

Except won't I lose any data downloaded since I did this (Dec 27, 2023)? So maybe I need to do the last option?

Oof. This is a bit confusing (my specialty). :\

Tom Young

If everything that downloaded into the new Accounts after your initial Adds in those Accouts legitimate "Fidelity" transactions, then simply deleting those initial Adds that you did in those Accounts won't affect those subsequent transactions, they will still be there.

If you do your STBAs in the old Schwab Accounts using that 12/27/23 date then those transactions - a whole bunch of Adds, one for each lot of each security - should show up "above" (earlier dated) than the post 12/27/23 transactions That should put the new Accounts into good shape.

Be careful, make backups as you go along, check that everything's correct in the new Accounts.