Why an extra setting?

Don Awalt

See attached images, why do some accounts have a 3rd setting, "Single Mutual Fund Account" in the Account edit area? As far as I can see there are no dissimilarities with other accounts. These are mutual funds.

Boatnmaniac

Some MF companies sell their MFs directly to investors (in addition to selling them through brokerages). One such company is Capital Group-American Funds. Often, these MF companies will assign a unique account number to each MF the customer orders from them. These types of accounts are called single fund account because only one MF can be held in it. If the customer then later orders a different MF from them, that MF will have it's own unique account number.

I know one of the things that will provide the prompt for "Single mutual fund account" is when the account is first set up with no cash balance and no multiple securities added to it. If when adding a new investment account it is set up with a cash balance or multiple securities then this "Simple mutual fund account" option will not be present.

You can read up more on single mutual fund accounts at https://info.quicken.com/win/how-do-i-add-a-single-mutual-fund-investment-accou .

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Boatnmaniac

Some MF companies sell their MFs directly to investors (in addition to selling them through brokerages). One such company is Capital Group-American Funds. Often, these MF companies will assign a unique account number to each MF the customer orders from them. These types of accounts are called single fund account because only one MF can be held in it. If the customer then later orders a different MF from them, that MF will have it's own unique account number.

I know one of the things that will provide the prompt for "Single mutual fund account" is when the account is first set up with no cash balance and no multiple securities added to it. If when adding a new investment account it is set up with a cash balance or multiple securities then this "Simple mutual fund account" option will not be present.

You can read up more on single mutual fund accounts at https://info.quicken.com/win/how-do-i-add-a-single-mutual-fund-investment-accou .

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