Accurate Asset Classes

usnavy1610

Quicken,

BLUF:  If you’re not going to allow the accurate reflection of Asset Classes in mutual funds, whether from a third-party or manually created, then please remove the feature.  Otherwise, it is useless IMO.

The continued absence of core asset classes your asset mixture over many years is mind-blowing, particularly mid-cap which make of 20-23% of the U.S. Market.  Instead, you choose to combine with and call these small-caps (which are only 7-10%).  What is any knowledgable user supposed to do with this?  Numerous investigations in this forum indicate you are buying your data from Morningstar.  Understandable, but why aren’t you taking advantage of what you (by extension, we) are paying for?  Morningstar breaks it down in a coherent manner, why can’t you?  Further, you allow manual creation of asset mixtures, yet you still choose to disregard mid-cap and other significant asset classes such as Emerging Markets.

This is elementary, so the lack of these asset classes in your baselines shows you have no domain knowledge about the customer you are serving.  You promote yourself as a provider of Personal Finance software serving experienced investors, yet you won’t provide an accurate reflection of our investments.

Please correct this, it can’t be that hard.  If you can't find a way to parse and display Morningstar data (or whoever you buy it from), at a very minimum allow manual creation of mid-cap, and (ideally) Merging Market and Treasury Bond asset classes.  That said, I’m sure many users would like provide input on this.

SRM

jacobs

@usnavy1610 First, you should know that this is a community forum, and your comments will not reach your intended audience of Quicken executive or product managers. (There are a handful of Quicken moderators here who keep the site organized and answer some questions, but otherwise, the Product Ideas section is the only area where new feature and enhancement ideas will (eventually) be read by the developers. Quicken hasn't ever disclosed whether the asset allocations they download come from Morningstar or another source, nor why they have such a limited number of default asset classes.

The good news is that there is already an Idea thread requesting the ability to create custom asset classes in Quicken Mac:

https://community.quicken.com/discussion/7624226/add-ability-to-customize-the-asset-class-menu-37-legacy-votes

The better news is that it is marked as "Planned" by the developers, meaning they have both agreed to add this functionality and have assigned it to a future time period on their development calendar. We never know when a particular feature will be delivered, and these things sometimes take a maddening amount of time between being marked as Planned and actually appearing — but at least we know it is in the future plan.

You can add you post over in that thread if you wish, as it may be seen there when the developers are reviewing what users have said they would like this functionality to look like. (My suggestion would be to be less about insulting them and to lay out a case for the various aspects of how you want this future functionality to work. When you say "it can't be that hard," you invite them to disregard the valid points you're making because it is, undoubtedly, much harder than you think.)