Why are my TIAA Brokered CD's not downloading correctly?
I have two distinct brokered cd's in TIAA that are downloading completely wrong. They are both showing the same value when in fact they are different PLUS the fact that the value showing is in the MILLIONS…this has been reported weeks ago but nothing has been done.
Answers
-
Hello @wvilla57,
When did this issue begin to occur? After a recent update? What is your connection method with TIAA? You can see the connection method by navigating to Settings > Downloads > Connection Type. Are you receiving any error codes or messages? When you say reported, do you mean that you contacted Quicken Support?
Let me know!
-Quicken Jasmine
Make sure to sign up for the email digest to see a round-up of your top posts.
0 -
I first reported this by contacting Quicken Support on 04/26/2024 and originally was that each Brokered CD had the decimal point shifted with amounts are showing incorrectly with thousand showing as millions….
as an example $16,839.64 was showing as
$1,683,964.00.Bat now each CD is still in the millions but although the amounts should be different they download with exactly the same amount with a number that has nothing to do with the actual value of them. I have no idea what that number represents.
I do not receive any error and I actually could see the correct amounts right before I click "finish".
The only available connections is through Quicken Connect.
Below is a picture of what I get (I wish the amount was real!).
0 -
@wvilla57 - how many units do you have associated with each brokered CD? For example, if your brokered CD has a face value of 100,000.00, the units associated with it should be 1000.00, or 1/100th the value. The purchase price is 100 if you by a new issue, and the maturity price is always 100. During the life of the brokered CD the price hovers around 100. I have had many brokered CDs in my portfolio, and they have always worked this way.
0 -
I am not that financially literate but when I purchase them they work in the way you described. They are not new and Quicken used to show/download them properly until something happened and not on my end or TIAA as far as I know. And by the way, my third account that is a Traditional IRA has been showing the wrong amount - around $5K - for months I would say.
0 -
@wvilla57 - if you look at the current units are they 1/100th of the face value? If so, the other thing to check is the daily prices for the brokered CDs. As mentioned, they should be around 100 or so. The prices for brokered CDs do not come from the price feed from Quicken's vendor. They come from the update file from TIAA. So, if there are any issues with the prices, then TIAA would need to fix them.
0 -
I wish we could share screens. I went into one of them and below is what it shoes.
0 -
@wvilla57 - I think you need to look at the daily prices and the units/shares for the brokered CDs. It all comes down to the fundamental calculation - "Price X Shares = MV".
0 -
I appreciate your help but I don't think it is my role to prove the calculation. That is for Quicken to do. All I want and need is for Quicken to bring from TIAA the same values shown in there in the same way they were doing for at least the last two years. Thanks for your input anyway.
0 -
@Quicken Jasmine Hi, any chance that you could take a look at this issue. It's been over a month and I don't see a solutions is forthcoming. Help!
0 -
This error has been happening for over two months and still wrong. Can SOMEBODY at Quicken take a look at this important issue?
0 -
I have a $10,000 CD with 10,000 shares at $1 each. Quicken shows this at 100X value = $1,000,000.
Other $10,000 CDs with 100 shares at $100 each appear correctly.
Quicken Classic Premier
R57.16
Build 27.1.57.16
Windows 7
How do we fix this?
0 -
That was not an answer o my question. It seems actually another question. The error is still happening since April.
0
