Schwab Withdrawal categorized as New Security
A withdrawal from my Schwab account when downloaded brings up the Matching Security window and asks if MGMTFEE TO ADVISOR should be added as a new security. I can't seem to re-categorize it as a Withdrawal. How do I fix this?
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If you can't edit the transaction that's been recorded in the Transaction List then the immediate fix is to delete the transaction, enter your own manual transaction, and then manually "clear" the transaction.
"MGMTFEE TO ADVISOR" sounds like it might be a reoccurring transaction, maybe one that you've downloaded many times in the past. So is this "new behavior" for this download? If it is, then the problem might be some hiccup on the part of the download itself or it might indicate some corruption in your data file. If all other transactions in the Account seem to be functioning OK, (ignoring Schwab's current problem of all transaction dates being dated one day before the actual transaction date), then a file Validation & Repair might not be out of order here (backup before hand), and wait to see if the problem repeats with the next MGMTFEE TO ADVISOR download. If it does then give Official Quicken Support a call.
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I am having the same problem with Schwab downloads. Validate & Repair did not fix the problem. MGMTFEE TO ADVISOR downloads every quarter. I don't want to wait 3 months to see if the problem repeats. Two users have documented this as a problem reporting within hours of each other. I'm sure there are more out there who have not reported the problem, yet. Don't have time to get on the phone with Quicken Support. I hope they are monitoring this thread.
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I am having the same issue with MGMTFEE TO ADVISOR download. Wants to add it as a new security. I cancelled the transaction and tried to add it manually and it has blown away all the detail for that account.
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This is quite the "oddball" problem.
Given that there's probably lots of Quicken users that use Schwab's Advisor service and - so far - there's only been 3 reports of the problem, this might be a "local to you", (your data file or Quicken install) issue.
Another thing to try that might add some clarity would be to create a new test file with only the Account(s) that are using the advisory service and seeing it the download works there.
@wrnoof As far as I know there's no programmers that regularly monitor this forum. What seems to be the typical pattern for getting their attention is to use the "report a problem" feature in Quicken. Quicken won't reply to you when you do this, so I'm guessing that if enough people report the same problem they might take a look at the issue.
@Lloyd Smith Deleting a transaction that's been downloaded into the Transaction List (Register) certainly shouldn't blow away all the detail in an Account, I've probably done that at least a hundred times over the years. To me that does suggest some kind of data file problem.
Unless somebody else has the problem and manages to solve it on their own I don't think, realistically, you can expect an answer in here. I would advise picking up the phone and seeing if Quicken Support can help.
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I've just run into the same problem. MGMTFEE TO ADVISOR [SCHFDX0] was being treated as a security. But when I hit Done on the security list window the transaction appeared in the download list as a Cash transaction and I was able to accept it as a MiscExp.
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I followed the method wjmcnicoll used and responded "yes, add the new security" and had the same results. It entered a cash withdrawal transaction and I only had to add the description and category that has been previously used for the management fees. 😊
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Did you end up with MGMTFEE TO ADVISOR as a new security in the Security list? Somewhat odd and more than a bit confusing.
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@Tom Young , I did end up with a new security "MGMTFEE TO ADVISOR" but it has zero shares and zero value, so doesn't have much negative impact.
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the method wjmcnicoll used did the trick! Thanks.
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Worked for me too. Thanks wjmcnicoll!
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Add me to the list. I have been in contact with Schwab IT and its not on their end.
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