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Schwab quarterly fee now incorrectly downloads as a security

larryvc

Quicken Classic Business & Personal Version R59.10 Build 27.1.59.10, OS Windows 11

During a OSU I was presented with a "Matching Security" dialog, prompting me to add the "Q3 ADVISORY PROGRAM FEE" as a security.

Why? Schwab Advisory fees have always been cash withdrawals.

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Comments

Quicken Jasmine

Hello @larryvc,

When did this issue begin? After a recent update? Are you aware of any changes with Charles Schwab?

Let me know!

larryvc

@Quicken Jasmine,

After the update to Quicken Classic Business & Personal Version R59.10 Build 27.1.59.10 on Windows 11. I have reported several issues with this update here.

The transactions happened at Schwab on 9/30/2024 but the download was on 10/11/2024. I see no changes in my Schwab online data to suggest any changes at Schwab.

shutterbug613

I am experiencing the same issue.

Today, Quicken updated and now it is prompting me create a security for the management fees. Below are the version of Windows and Quicken I am running.

Quicken Classic Deluxe
Version: R59.10 Build: 27.1.59.10

Microsoft Windows 11 Pro
Version 10.0.22631 Build 22631

Please advise us on when you are releasing the fix.

jl747

See this post about the same thing.

https://community.quicken.com/discussion/7956681/schwab-withdrawal-categorized-as-new-security

JKTucson

Add me to the list. Same issue for the last 4 days.

Are we going to fix this??

Tom Young

User @wjmcnicoll worked through the prompts to the end and found out that he could then correctly record the transaction:

https://community.quicken.com/discussion/7956681/schwab-withdrawal-categorized-as-new-security

Then @Lloyd Smith confirmed that a new security called MGMTFEE ADVISOR was created, but with no position shown for this "new" security.

So there is a workaround, though it's a very odd downloaded transaction.

Judy

I experienced the same issue yesterday, Friday, Oct18.

I didn't accept and cancelled the window. I then checked the transaction download tab, it indicates that there are no downloads.

The symbol that shows up in Quicken is SCHFDXO or SCHFDX0. Not sure if the last digit is a letter or numeral. When I looked up the symbol at Schwab, nothing comes up.

Since advisor's fees occur quarterly, it would be hard to determine which update would be at issue if it is on Quicken's side.

Judy

There is another thread about this topic: "Schwab Withdrawal categorized as New Security." See member "wjmcnicoll" post. Fix worked for me.

JKTucson

Thank you. That absolutely works

Quicken Jasmine

Hello All,

We have forwarded this issue to the proper channels so that this can be further investigated. In the meantime, we request that you please navigate to Help > Report a problem and submit a problem report with log files, a sanitized data file, steps to reproduce, troubleshooting steps attempted, and screenshots (if possible) attached to contribute to the investigation.

While you will not receive a response through this submission, these reports will help our teams further investigate the issue. The more problem reports we receive, the better.

We apologize for any inconvenience! Thank you.

Quicken Jasmine

Hello All,

This issue has been reported!

(CBT-420)