Experience using Quicken with Fidelity investment accounts

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ksm
ksm Member ✭✭✭

Considering moving investment accounts to Fidelity. Looking for other Quicken and Fidelity users experience. Does Fidelity work well with Quicken? Any issues I should be aware of so that I can manage them?

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  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
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    Fidelity Investments has been working perfectly for me for many years. If you browse the forum, however, you will find instances of people having trouble with it. (Just like Bank of America works perfectly for me, but some people can't get proper downloads from it.)

    Fidelity NetBenefits (where people's 401(k)s live) is a different animal and seems more troublesome. I have no personal experience with it.

    Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.

  • bmciance
    bmciance SuperUser ✭✭✭✭✭
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    Fideity Investments works perfectly for me also. The only thing to be aware of is that transactions will not download until the next day because they are "pending" when you look online. Some other Brokers (Schwab is one example I am aware of) will download transactions the same day you see them online.

    One other thing I notice is some different rounding of values between Fidelity and Quicken. Even though the price will be the same the value could be off slightly. With Schwab I always match to the penny.

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited May 17
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    @bmciance

    "One other thing I notice is some different rounding of values between Fidelity and Quicken. Even though the price will be the same the value could be off slightly. With Schwab I always match to the penny. "

    What could explain that is Q using standard 4/5 rounding … and Fidelity truncating. So, if a security is off by a penny (or an account holding multiple securities off by several), I just ignore it.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Beijing Mac
    Beijing Mac Member ✭✭✭✭
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    no issue for me with Fidelity and NetBenefits. For several decades.

  • bmciance
    bmciance SuperUser ✭✭✭✭✭
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    Yes, I think that is the case. I ignore it also as long as the total is "close"

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    Fidelity NetBenefits accounts do not work correctly in Simple investing mode, otherwise Fidelity accounts seem to be OK.

    QWin Premier subscription
  • sproctor61
    sproctor61 Windows Beta, Mac Beta Beta
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    Yea I’m getting the doubling with Cash added for the same amount.

  • ksm
    ksm Member ✭✭✭
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    Thank you to all who commented and gave guidance.

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited May 26
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    I'm not quite following you. That cash should have been used to buy the MMF. If you simply ADDED the MMF, that would explain your doubling issue.

    BUT, to keep things even simpler, in our non-taxable accounts I show the cash as Cash … not as an MMF. Q still downloads all transactions and divs for this cash position.

    In my non-taxable accounts (mine & wife's) we've got "Show Cash in a Checking Account" turned on, so the cash appears in a pseudo-account created by Q for this purpose.

    [EDIT] And Fidelity Investments MOST DEFINITELY allows "Detailed Tracking" when the FI name is "Fidelity Investments". I use it for 7 Fidelity accounts [/EDIT]

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited May 26
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    Regarding Money Market Funds: It is only the Core Fund (also called the Settlement Fund) MMF that Fidelity downloads as the Cash Balance. They have been doing this for at least the last 20 yrs. Key to making sure that Fidelity does not also download the CF MMF shares is to make sure your preference in your online account at Fidelity, for your CF MMF, is set for dividends to be paid into the account balance and not reinvested. It will not change anything with how Fidelity manages the cash because all of the cash will get invested into the CF MMF, anyway, but then Fidelity will download the dividends as Cash and not download them as ReinvDiv transactions. (BTW, Fidelity is not alone in reporting the Settlement Fund MMF to Quicken like this.)

    For all other MMFs Fidelity downloads the transactions just like they do for any other security and does not treat the MMF shares value as Cash.

    Also, Fidelity does indeed allow Complete Tracking. You just need to make sure your account is connected to Fidelity Investments.

    If your account is instead connected via Fidelity - Investments & Retirement Accounts then, yes, that connection supports only Simple Tracking.

    Another thing regarding Simple vs Complete Tracking when adding a new investment account to Quicken: Go to Edit > Preferences > Investments > make sure the box is unchecked for Default to Simple investing for new accounts. One can always later select Simple Tracking for an investment account on the General tab of Account Details but if the account is initially added to Quicken in Simple Tracking mode it can be very difficult to later switch to Complete Tracking.

    Quicken Classic Premier (US) Subscription: R55.26 on Windows 11