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Security Cost

rbakerjr45

I have the same security in two different brokerage accounts. One account can connect and automatically update, Wells Fargo, and the other account, Nationwide Retirement, has not been able to connect and update in over a year. Intuit has not resolved this issue with Nationwide.

When I manually set up the Nationwide securities to update price quotes using the stock ticker, and have the Nationwide mutual fund average the cost, I have an accurate value of that account. Wells Fargo now reflects a lower value since the security cost is drastically reduced due to the pricing configuration.

Is there a way to have the same security reflect pricing based on the investment account that security is associated with, since each investment account costing is different? The support team was not helpful regarding this issue.

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volvogirl

You would have to use a different stock symbol on them. Or not use a symbol on the nationwide security. Why is/should the fund in Nationwide be a different price? Is it maybe a different fund like an institutional fund and not the same as the public fund? But your cost can be different even though the current price is the same.

rbakerjr45

Thank you for your response, the stock PIMIX is the same in each investment account. In the Nationwide account, all the stock prices "use average cost" to set the values. In Wells Fargo, the stock does not. I have not found any way to have the same stock ticker present differently between two separate accounts. Since Nationwide retirement accounts have not been supported for over a year by Intuit, I cannot seem to enable any automatic or one-step update capability to reflect investment values accurately.

Jim_Harman

PIMIX is a mutual fund, and Quicken's Use average cost setting is for the security, not the account. That setting is used when selling shares, not for security price updates.

If you go to the Nationwide account online, does it show a different share price than Wells Fargo? The price for the publicly traded PIMIX is currently 10.53.

q_lurker

The “Use average cost” option is at the security level, not the account level. It is also only available for securities identified as “Mutual Fund”, but that is not a real issue in this case. I mention it only because you made reference to a “stock” price and that is not the case here.

… I have an accurate value of that (Nationwide) account. Wells Fargo now reflects a lower value since the security cost is drastically reduced due to the pricing configuration.

There is a mischaracterization or misunderstanding here. Neither the current value nor the total cost basis of a holding within an account is affected by the Use average cost selection. Something else is going on, so please clarify if you can.

What can occur is that a Financial Institution (Nationwide) handling retirement accounts can be buying funds that appear to be the same as the retail funds but are not. A clue to this is that they refer to units rather than shares. In such cases, the price per unit are different than the price per share. They need to be treated as two different securities with different names and tickers.

rbakerjr45

Thank you both for the insight. How do I set up my Nationwide account so that the holdings cost estimates accurately reflect what I see online in Quicken? When I review the portfolio on the Nationwide website the ticker is PIMIX and it does show a "unit" quantity instead of "shares" Currently I have to manually update any changes in holdings and price. Adding a stock ticker did enable a one-step update to prices. Setting the security to use average cost enabled an accurate value. Since the average cost is at the security level, is there another way to enable automatic updates?

I have not had success with manually exporting a QIF file from Nationwide and importing it to Quicken. The results seem to not properly incorporate.

Jim_Harman

If you hold "units" at Nationwide, then it is not the similarly named publicly traded security.

You should manually set up a security with a different name and a blank ticker symbol for your holdings there. Be sure to un-check the Download Quotes box for the new security.

If the Nationwide Account is set to be a Single mutual fund account, change that setting to No.

Then in the Nationwide account edit all the transactions for PIMIX to use the new security.

Be sure to back up your data before making bulk changes in case something goes wrong. There is no Undo.

rbakerjr45

thanks all.

Ps56k2

the "units" are probably a slice of some institutional holding of the same PIMIX -

It would be interesting to see how Nationwide reports your current holding -
the qty held and the price per "unit" vs the actual mutual fund listing

Jim_Harman

Often 401(k)s hold special funds that mimic publicly traded funds but with a (hopefully) lower management fee. The names are similar to the public funds but they have different share/unit prices.

Boatnmaniac

I have had a Rosemount 401K, a Dell 401K, an Inova Labs 401K and a Thrivent rollover Annuity IRA which used in their documents the same tickers of the public funds that they mimicked for their private funds but the share cost/prices for the private funds were very different from the public funds. Also, those private funds and prices were not downloadable unless the 401K funds supported Quicken downloads….something only Rosemount and Dell did. The others had to be set up and managed manually in Quicken….and I had to make sure that I changed the tickers for those private funds so the public funds prices would not incorrectly value them.