Altruist Investment Transactions Cash balance

BH1980
BH1980 Quicken Windows Subscription Member ✭✭
edited November 17 in Investing (Windows)

I have investments through Altruist, which only allows for Simple downloads. I noticed my balance totals were inaccurate and traced it to Cash Reserve accounts being held by Altruist, but not downloading into Quicken. So I used the menu option in Quicken that reads "Update Cash Balance" and that seemed to fix it. However, next time I logged back into Quicken it shows a Zero cash balance (so it only shows it while I'm logged on for the session where I added the Cash Balance update). Is this a Quicken error that needs to be fixed? With the Simple investment download method, I cannot figure out if or how to create my own permanent Cash Reserve account, does anyone know how to do this?

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  • SquishyD
    SquishyD Quicken Windows Subscription Member ✭✭

    My advisor just switched platforms to Altruist and after setting everything up, I'm experiencing this exact same issue. It seems that the issue is with the simplified "current balance only" downloads. It just gets share balances for the securities and ignores any cash, which forces quicken to generate a pre-reconciled placeholder entry to zero out your cash balance. Basically, the download functionality of Altruist is cash.

    At this point, I've disconnected connections for all my Altruist accounts and am just updating everything manually (once disconnected, you can switch to Complete Investing view which will show all the trash transactions that are created by Altruist pushing incomplete data). Also telling our advisor that if there isn't a solution to this, we will be requesting that our funds be managed via a different platform.

    We were previously with SSG which, while their platform wasn't the prettiest, it at least had transaction-level detail and was actually functional.

  • MeToo
    MeToo Quicken Windows Subscription Member ✭✭

    I have the same issue about Altruist import of accounts in to Quicken. I was "forced" to move from SSG to Altruist recently and discovered that their Quicken integration is very limited and basically unusable. I contacted Altruist and they openly shared that their Quicken export was not working and that they do not have any schedule to fix it. Not apriority for them.

    In addition, their online client portal is subpar and extremely limited. You cannot even check the daily investment change. There are now weeks since the transfer from SSG happened and I still not able to see the realized gains/losses for my taxable accounts and there is no outlook from Altruist on when this information will be available on their client portal. And as it is the only place where the current investment data is accessible, this is a major setback on tracking our investments and planning taxes.

    I was counting on being able to import the data to Quicken as any other major financial platform allows but now all I’m left with is entering manually information into Quicken. That’s assuming that the information is made available by Altruist.

    Also having conversations with our financial advisor on this topic but he is reluctant to move our assets to another platform. Clearly, Altruist is focusing on providing an excellent value proposition to financial advisors and advisors are incented to stay with Altruist even if their clients are not happy with Altruist service. May need to look for another advisor if this is not solved quickly.

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