Schwab update issue
Quicken update transactions does not agree with prices of investments on the Schwab online account. I have noticed in the past, and now for the last few days. It can be any investment including an individual stock.
Answers
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The obvious result is the account balance is different in Quicken than the online Schwab account.
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Hello @Pat Marshall,
When did this issue begin? Are you receiving any error codes or messages? Are there any pending transactions that could be affecting the balance?
Let me know!
-Quicken Jasmine
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Last 2 days this time, but I have noticed intermittently for perhaps 2 months. No error codes or messages. No pending transactions. Schwab says if might happen because they do after hours trading prices too.
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This issue still occurs. The discrepancy is due to a discrepancy between the stock quotes for this account. The clock icon is adjacent to the price downloaded by Quicken. Most of my stocks show this icon and hovering over it with the cursor shows "Last updated: 11/19/2024". That quote does not agree with what Schwab shows when I login to their online account site. That means the market values do not match. I can only assume Quicken is using the closing market price and maybe Schwab is using the after-hour price. Once I make all of the changes to what Schwab quotes, the account with Quicken matches the online Schwab. I do not have this issue on other accounts like UBS. I would be interested if others with Schwab accounts experience the same issue. If so, how do you handle the discrepancy?
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There is another thread that says the issue is resolved, but mine is still the same as of this morning.
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Thank you for your reply,
To clarify, there was an issue with Schwab transactions downloading with an incorrect date. That issue has been resolved. This issue that you're describing in this thread sounds like it's a bit different from that. The transactions download from the financial institution. Stock quotes (in Quicken) come from a 3rd party service provider, rather than directly from the financial institution.
If you don't already have it turned on, I recommend going to Edit>Preferences>Investments and select Real-time quotes. When real-time quotes is enabled, Quicken should be able to reflect pre-market prices, when available. Depending on what is causing the discrepancy you're seeing, real-time quotes may correct the issue.
Thank you!
Quicken Kristina
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I have 4 Schwab accounts. The two Roth IRA stopped downloading 9/30/2024. The other two continue fine. I have spent 2 hours with support but once the ticket was escalated to tier 3 it fell into a black hole. Front-line Quicken support have been helpful and tried to resolve or to escalate. Tier 3 hasn't even opened the ticket as far as I can tell, asking for screenshots that they already have and noncommunicative. Frustrating.
Update in Schwab Brokerage Accounts not downloading since 11/4/2024
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Hello @psode,
Thank you for joining the discussion and sharing the link to where you posted what resolved the issue for you!
Thank you!
Quicken Kristina
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I still have a problem.
Quotes for stocks online at Schwab do not match the quotes Quicken downloads. CDs, T-bills, and cash are ok, but stocks are not. Please tell me the settings that work for any of you by going to "Edit/Preferences/Investments/Other Preferences". I have checked "Automatically update quotes every 15 minutes". Right now, I do not have the other 3 checked only because prior checking did not help. The three options are Default to Simple investing, Extended share precision, and real time quotes.
This is very frustrating. I get some weird stuff on UBS as well often with a price that is the same for multiple stocks and allows me to see which are incorrectly priced.
I have been doing this on Quicken for decades and have never had this issue.
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Thank you for your reply,
It is possible that the discrepancy is due to differences in the reporting time that Schwab uses and the reporting time that our quote service uses. How large are these discrepancies?
What kind of unusual things are you starting to see with UBS? I see that an alert recently came out for connection issues with UBS; depending on what you're seeing happening, it's possibly the result of those connection issues. See the alert below for more details:
Thank you!
Quicken Kristina
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UBS matched quotes on conventional symbols, but there were errors on bonds, t-bills, notes, etc. Those that were errors had the same amount for the quote. In my case it was multiple entries of $172.72 regardless of the actual price of the investment. Once I changed all of those manually, I matched.
Discrepancies for Schwab were a few percentages points off with very few of my investments matching. In the past, all of my investments would match regardless of the time of day or night.
Are there settings that I should change under Investments/Other Preferences?
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Thank you for your reply,
The issue you describe with UBS may be due to having Real-time quotes turned on; it's not a common issue, but it does sometimes cause what you're seeing. Please go to Edit>Preferences>Investments and uncheck that option (if you haven't already done so). It won't fix anything that already downloaded with that incorrect 172.72 number, but it should prevent it from happening again. Please let me know if that does not correct the issue!
When you say the Schwab quotes are a few percentage points off, do you mean it's a very small difference ($110.11 instead of $110.14 for example)? Would you be willing to post screenshots of what you're seeing? Please make sure to redact any personal information. If needed, please refer to this Community FAQ for instructions on how to attach a screenshot. Alternatively, you can also drag and drop screenshots to your response if you are not given the option to add attachments.
Thank you!
Quicken Kristina
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Yes, let the market close today and then I will compare. Thanks for your attention to this issue.
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@Pat Marshall here is some background information on quotes in Quicken that may help explain what you are seeing. and help prevent this issue.
There are two sources for online quote updates in Quicken: Quicken's quote provider and, if the account where you hold the security is set up for transaction downloading, the Financial Institution (FI) where you hold the security. If Quicken receives a quote from both the FI and the quote provider, the quote provider’s price is the one that is stored.
The quote provider uses securities’ ticker symbols to identify the security. In US versions of Quicken, it can only supply quotes for securities that are publicly traded on US exchanges. It does not provide quotes for bonds, private funds that are in many 401(k)s, or any security that does not have a valid ticker symbol. Occasionally the quote provider will mismatch these securities and supply incorrect prices, especially if the Premier and up “Real time quotes” option is enabled. This option is a checkbox at Edit > Preferences > Investments.
In particular, if the Real time quotes option is selected, any security that has a blank ticker symbol and has its Download Quotes box checked in the Security List will get an incorrect price. The price it receives is the quote for the security selected for downloading that has the first ticker symbol alphabetically, often AAPL. This is a longstanding bug.
To prevent incorrect prices from being downloaded for these types of securities, you should go to Tools > Security List and un-check the Download Quotes box for bonds and for any securities that are not publicly traded or have a blank ticker symbol. This will not correct previously downloaded incorrect prices, but it will prevent the quote provider from trying to supply prices for these securities.
If the account where the securities are held is set up for downloading, future price updates should still be provided by the brokerage when you update your transactions. These price updates are not affected by the Download Quotes box in the Security List.
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Here is the Quicken download with investment quotes. Below is the comparison from the Schwab account itself.
In the past, they matched exactly regardless of time of day. Now, they never match and there can be considerable variation.,
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