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Fidelity and Quicken

Michael Waite

I have an IRA account at Fidelity. If I buy 4.29 shares of Cosco, Fidelity splits the order into whole shares and partial shares. So I buy 4.29 and Fidelity splits it into one order for 4 shares and another for .29 shares. Quicken downloads two transactions. One for 4.29 and another for .29. In this case, Quicken shows I own .29 more share than I actually own. Has anyone else noticed this behaviour? How do you handle it? I'm an active trader and I don't want to micro manage every trade in Quicken.

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Michael Waite

PS: I've been using Quicken for years and my holdings in Quicken have always been accurate. I just noticed the diserpency today on a trade I made last week.

NotACPA

Fidelity goes by multiple names in Q, and they use different download methods.

SO, please do TOOLS, Account List and tell us what's showing in the "Transaction Download" and "Financial Institution" columns across from your Fidelity account(s).

If those columns aren't showing, they can be added via the Options button at the bottom of that dialog.

Michael Waite

Transaction Downloaded says "Yes (Direct Connect)" and Financial Institutions says "Fidelity Investments".

NotACPA

Does that split, as you describe it, ALWAYS happen? Because I use "Fidelity Investments" with Direct Connect also … and I haven't seen such.

Also, with Direct Connect, Fidelity is solely responsible for the content of the download. SO, I'm wondering if that's how the trade was actually executed.

And the COSCO that I found is actually an ADR … so I'm wondering if this has something to do what that security type. What's the Symbol for your security? Also wondering if this is a Div Reinv, or somesuch?

Michael Waite

I reconcile my account holdings between Fidelity and Quicken once or twice a month. This is the first time I've seen a discrepancy. Here is the transaction at Fidelity. Quicken recorded two transactions. One for 4.249 shares and one for .249 shares. I thought it might be something happening in the latest Quicken build.

The symbol is COST.

I placed one order to buy a dollar amount at market value. Fidelity split it into two purchases. One for the whole shares and one for the fraction.