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Mutual Fund in TFSA

Freyr312

I recently transferred a TFSA to my main bank and used the funds to purchase a mutual fund. The TFSA account is not with the brokerage arm of the bank but shows up in my on-line banking page. How do I set up the account in Quicken so that the daily value of the fund will download when I download the rest of my banking transactions?

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Windows

QWIN - Canada

Accepted answers

Arctic Hare

https://community.quicken.com/discussion/comment/20485489#Comment_20485489

That will be because you have one or more transactions in the Quicken account. Once there is even a single transaction, Quicken prevents you from switching the currency. I didn't load any transactions for that security.

Arctic Hare

https://community.quicken.com/discussion/comment/20485532#Comment_20485532

I'm still not getting any price. This security must not be available from the price data feed. I do not know why certain currently traded securities are excluded…. Time to engage Quicken support.

All comments

Quicken Anja

Hello @Freyr312,

We appreciate you reaching out.

To better assist you further, could you please provide the name of the financial institution this account is associated with?

Thank you!

Freyr312

RBC Bank

Quicken Kristina

Thank you for your reply,

Which connection with RBC Bank are you using?

Is the mutual fund you purchased part of another account, or is it a separate account at the financial institution?

Have you already tried to add the account (Tools>Add Account and follow the prompts)? If you haven't, please backup your Quicken file and try adding the account.

If you have tried adding the account, what happened? Did you see any error messages/codes?

Thank you!

Freyr312

It’s a separate account. When I created it, Quicken put it with my Investment accounts with brokers, but the Bank has it as a bank account.

Arctic Hare

https://community.quicken.com/discussion/comment/20485295#Comment_20485295

The financial instituion has no bearing on this matter because there is almost zero ability in Canada to download transactions or account balances for investment accounts. More specifically, Quicken does not support downloading investment account data from RBC in Canada. There is zero support for that. If the TFSA account holds securities, one can set up Quicken to download the prices for those securities and get valuation updates that way.

Arctic Hare

https://community.quicken.com/discussion/comment/20485332#Comment_20485332

Are you referring to the groupings on the left hand panel that list accounts? That grouping and ordering can be modified, if that is what you are referencing.

Freyr312

I am able to download price quotes on my holdings in my RBC Direct accounts, minute by minute if I want to, so I don’t understand your comment.

Arctic Hare

https://community.quicken.com/discussion/comment/20485371#Comment_20485371

The price quotes are NOT provided by the financial institution where the securities are held. The price quotes are provided by an entirely separate service that Quicken provides to its subscription users. The ability to get price quotes has no relationship with downloadin transaction and balance data from a financial institution.

I understood that what you are seeking is to download the daily account balance for the investment account (correct me if I'm wrong). That would have to be provided by RBC, but RBC doesn't support downloading ANY data from investment accounts in Canada. However, will compute a daily value for you based on security prices.

If we are not understanding your question/interest correctly, then you'll need to clarify what you meant by "How do I set up the account in Quicken so that the daily value of the fund will download when I download the rest of my banking transactions?" If I take the question at face value, the answer is "you can't".

FWIW, I bank with RBC and I use RBC Direct Investing.

Freyr312

I use Direct Investing as well, but the TFSA is not with them. It is in my local RBC branch and contains an RBC mutual fund.I realize that the stock quotes are not actually downloaded from RBC, but can the Quicken service be linked to the mutual fund so that the current value is reflected in the RBC account?

Arctic Hare

https://community.quicken.com/discussion/comment/20485389#Comment_20485389

It doesn't matter whether the security is held with RBC Bank, RBC Direct Investing, TD, CIBC, etc. The security valuation come from the other service. Mutual fund prices are updated once daily - they do not fluctuate through the day. Yes, the price from the last market day's close should be reflected in Quicken, regardless of the financial institution where they are held (that is a moot point). If daily updates to the valuation of your mutual funds isn't working for you, respond with the name (and preferably Fundserv code) of one of the mutual funds in question and I'll provide a screen shot of how to get it set up correctly.

Freyr312

Thanks, it's RBC Managed Payout RBF661

Arctic Hare

This is what SHOULD work, but it didn't download a price when I tried it just now. I've sometimes seen that it takes a couple days to get a price - I don't know why that is. I've also found that some codes simply don't work. Let's try this again on Monday and Tuesday and see what happens.

Freyr312

OK, Thanks for all your help so far!

Freyr312

By the way, my screen looks the same, except that in the Edit Security Details window, the currency drop-down, while it says Canadian Dollar, is greyed out.

Arctic Hare

https://community.quicken.com/discussion/comment/20485489#Comment_20485489

Jim_Harman

Also you should go to Tools > Security List and make sure the Download Quotes box is checked for that security.

The quote download will only update the price per share. You must have an investing account in Quicken that includes this fund and has the correct share count. To maintain the correct total value, you must update the share count manually, by clicking on the gear at the top right of the account and selecting Update share balance or preferably by entering the transactions including reinvested dividends.

Arctic Hare

https://community.quicken.com/discussion/comment/20485497#Comment_20485497

Unfortunately, that is not what is causing the price not to update for this security.

Nor is the account requirement:

It just isn't getting a price from the feed.

Freyr312

Thanks Jim, yes, the box is checked. I’ll see if the price is updated later this AM.

Jim_Harman

I don't know about Q Canada quotes, but in the US mutual fund quotes update after the close of trading on days when the markets are open, so you should not expect updated quotes until after about 7:30 PM Eastern time today (Monday)

Freyr312

Thanks.

Arctic Hare

https://community.quicken.com/discussion/comment/20485500#Comment_20485500

I should get the price from the last trading day. I am getting no price quote whatsoever for this fundserve code. I have received prices for other Canadian mutual funds for April 4.

Freyr312

Arctic Hare, is it possible to communicate directly with the service provider?

Arctic Hare

https://community.quicken.com/discussion/comment/20485503#Comment_20485503

No. Quicken won't even tell you who provides the service... at least that is my experience. The only option seems to be to do the following two things:

Use Report a Problem from the Help menu in Quicken
Contact Quicken Phone Support and do a screen share and show them the problem.

Unfortunately, getting problems like this one resolved tends to be painful and take a long time and required persistant follow up.

Jim_Harman

It will only download quotes for a security if you have a nonzero share balance or the security is on the Watch List. You might try going to the Security List and adding it to the Watch list and trying the Update Quotes again.

Also try changing the Added date to 4/1/25 or whenever the shares were actually added to your account.

In your screenshot you only show 1 share. Of course you will not get an accurate total value unless Quicken knows the actual share count.

Arctic Hare

https://community.quicken.com/discussion/comment/20485506#Comment_20485506

I do get prices for securites that are not on my Watch List when I do manual or One Step Updates. However, I get no price for this security. See the example below.

I added this security just to test the price updates. I don't own this security and I am not trying to get an accurate valuation. I was simply testing whether Quicken would download any price. And, so far, it has not.

Arctic Hare

https://community.quicken.com/discussion/comment/20485512#Comment_20485512

I tried backdating the Add Share transaction AND adding it to the Watch List and it still Errors Out:

Jim_Harman

@Arctic Hare

Sorry, I thought that was @Freyr312's screenshot.

Do you get updated quotes for securities that you do not own even if the Watch List box is not checked? US Quicken does not download quotes for those securities.

Arctic Hare

https://community.quicken.com/discussion/comment/20485522#Comment_20485522

@Jim_Harman I haven't paid a great deal of attention to this, but I think I get prices updates for securities that are NOT on the Watch List if I have Download Prices checked AND I do a manual price update OR a One Step Update. I definitely get prices for securities without having Watch List checked under some circumstances. I think I only need to check Watch List if I don't hold the security… but, I'd have to test and verify that.

Jim_Harman

In the US it appears that the rule for attempting to get quotes from the quote provider is

non-blank Ticker AND (on Watch list OR non-zero share balance)

If the ticker symbol is not found, we get the error message you show above. That would imply that the quote provider does not cover RBF6661, but waiting until this evening to see if it downloads would be an even better test.

We also get quotes for securities that are held at brokerages that are set up for transaction downloading. There quotes come directly from the brokerage.

Arctic Hare

https://community.quicken.com/discussion/comment/20485526#Comment_20485526

Same in Canada EXCEPT we can't download any data from brokerages other than one or two (or some very small number) allowing Web Connect download of basic transaction data. The two (big) brokerages that I use don't support any download, so I've never seen what one can get from using Web Connect from the one or few that do.

Also note that Quicken Canada and Quicken US are close to identical now - they run the same code with a few switches that provide a few feature and nomenclature differences, e.g. switching the name of 401K to RRSP. Currency handling is probably the biggest difference alongside Quicken Canada not supporting EWC+ and Direct Connect. I'd be surprised to see any logic differences in how features work between the two now that they share the same code.