Altruist Brokerage Transaction download

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The Altruist transaction download was recently added as an option but the transactions that are downloaded are basically garbage and have to be deleted. I turned off the automatic download until this is corrected. Has anyone been able to use this successfully?

Answers

  • Quicken Jasmine
    Quicken Jasmine Moderator mod
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    Hello @jaygraver,

    Would you mind providing more details regarding the issues you are experiencing with the downloaded transactions? Are you receiving any error codes or messages? What is your connection method with Altruist? You can see the connection method by navigating to Tools > Account List.

    Let me know!

    -Quicken Jasmine

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  • jaygraver
    jaygraver Member ✭✭
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    The transactions download without any error messages. I am not sure the connection type – I turned it off since it does not work correctly.

    Here is just one example of the problem:

    A dividend re-investment comes through as 3 cash transactions. The first one is a deposit for the amount of the dividend, the second transaction is a debit for the same amount as the deposit. The third transaction is a cash deposit in dollars for the number of shares that should have been purchased.

    The correct way is a dividend reinvestment transaction for the shares and dollars of the dividend. It could be a deposit for the dividend amount and then a share purchase for the number of shares and dollars to match the deposit.

    thanks

  • jaygraver
    jaygraver Member ✭✭
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    THe connection type is Express Web Connect. Here is an example of what happens after transactions are downloaded:

    Shown in atached screenshot is an example how Altruist tries to add a Dividend Reinvestment. 
    It shows 3 transactions:

    1.  Adds dividend as a cash deposit (should be a dividend not dividend deposit from VTV)  +465.93  cash

    2. Adds what should be the shares purchased as a cash deposit not as VTV shares added.  +2.90 cash

    3.  Debits the dividend cash deposit    --465.89 cash
    So you end up with a cash deposit of $2,90 when you should end up with 7.17 shares of VTV purchased from the 1148.89 dividend.

    So this is useless - have to delete the 3 transactions and create a dividend reinvestment transaction manually.

    All transaction types do something of this nature - A stock purchase is a similar set of 3 transactions - all cash transactions. The interface represents everything as a cash transaction which of course is incorrect.