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Fidelity fund disappeared

gasmanjoe

Using Quicken Classic for Mac 8.2.0.

All of a sudden, today, one of the Fidelity funds in an IRA disappeared from my accounts. I have two funds in the account and one is still present, but the other just completely disappeared from the portfolio. Individual transactions for this fund are still showing in the "Transactions" view but the same fund is not present in the "Portfolio" view. As a result, the total balance is off by the amount of this "gone" fund. Have been using Quicken for about five years and have not had this happen with the same Fidelity funds the whole time….Tried to disconnect and reconnect but no change. Any ideas on what's going on or how to fix this????

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Jon

If you look at this fund in the Securities window, is there a check mark in the Currently Held column for it? If not, then Quicken thinks you no longer own any shares in that fund, which would explain why it's not shown in the Portfolio view.

jacobs

What is the fund that's missing? I'm wondering if it is a money market fund which Fidelity reports as cash rather than as a separate security.

NotACPA

OR, Fidelity has recently merged some funds … but without knowing the particular fund that you're asking about there's not much more that we can do.

gasmanjoe

Thank you for your replies. The fund is Fidelity Government Cash Reserves. It is in one of two funds in an IRA account and the other account continues to show and be updated. Did Fidelity change their reporting method recently? This fund was showing and updating without problems since 2021 in my Quicken…then poof!

I apologize for my ignorance, but which view is the "Securities window"? How can I get to this view?

Thanks!

gasmanjoe

Oh sorry — found the Securities window and the fund is not checked as currently held…not sure how this happened.

Jon

If you used to hold shares & now don't, then there must have been a transaction removing those shares from the account. Check the transaction register for Sell or Remove Shares transactions that don't look right; if you've been reconciling your account periodically then look for unreconciled transactions.

gasmanjoe

Unfortunately I have no idea how to make the fund "currently held" again…Any further help would be greatly appreciated

[Deleted User]

It could be that Fidelity removed the shares for that security and converted it to a "cash fund". There have been several posts in the last couple of weeks about Money Market Mutual Funds in Fidelity accounts that have had shares removed and replaced by a cash fund or cash balance. I am not positive that this is the case, but it sounds similar to other posts I've read.

gasmanjoe

Sigh…I guess I'll just have to update manually for now. Things were working perfectly until tihs..

Anyway — thanks for all of your jhelp!

jacobs

I guess I'll just have to update manually for now.

But do you? Is the amount in your money market fund not reflected in the "Cash" line in the portfolio view?

By the way, Fidelity is not alone in reporting money market funds as Cash rather than a security; Schwab made this change a while back.

car1

Same thing happened to me. My Fidelity Government Cash Reserves disappeared from my portfolio. I've tried to added them back manually but they still don't appear.

Boatnmaniac

https://community.quicken.com/discussion/comment/20490032#Comment_20490032

FYI: Fidelity has been converting the MMF designated for holding cash (what they call the Core Account or Core Fund) to FCASH which is kind of like a hybrid between a MMF and a traditional bank Sweep Account. This conversion affects only taxable brokerage accounts, not retirement accounts so it does not apply to this thread.

jacobs

Same thing happened to me. My Fidelity Government Cash Reserves disappeared from my portfolio.

But did the money in the money market fund show up as a Cash line in your portfolio? In other words, does the total market value on your portfolio screen agree with that Fidelity says is in your account, or is the Quicken value to low by the amount which is in the money market fund?

DGalligan

Same thing has happened to me. Government Cash Reserves disappeared. Hope someone comes up with a way to fix this.

DGalligan

When I went into edit the transaction and changed Fidelity Cash to FDRXX it fixed the problem, but I had to amend each transaction. My account updated correctly. Glad I only had about 10 entries to fix.

uppy23

After updating Quicken for Mac to version 8.2, it eliminated cash reserves in 3 different Fidelity accounts and now the balances are wrong.

[Merged Post]

Quicken Kristina

Hello @uppy23,

Thank you for letting us know you're seeing this issue. If this happened immediately after the program updated, then I recommend restoring a backup from just before the program updated.

Please let me know how it goes!

[Merged Post]

gasmanjoe

In my case, the fund and money is just gone. The total portfolio value in Quicken is short the amount of the MMF when compared to what the Fidelity site shows. So everything else is off — net worth etc. It just disappeared from the portfolio and there is no cash account/value showing up to take its place.

Boatnmaniac

If Fidelity Government Cash Reserves (FDRXX) is your designated Core Position (also called Core Account or Core Fund) then your account in Quicken should not have any holdings of it. Fidelity's default is to download the value of the Core Position as the Cash Balance and to not download any shares of it.

If you are getting shares transactions of FDRXX downloaded from Fidelity then it is most likely because of one or both of two things:

You have set in your online account for the dividends from FDRXX to be reinvested.
You have been placing Buy and/or Sell order for FDRXX.

For these 2 situations, Fidelity will download the shares transactions for them. But all of the Buy, Sell and Reinvest transactions that Fidelity does automatically as part of their normal cash management process will not be downloaded into Quicken.

If you do not know if FDRXX is your Core Position: Log into your online account and click on the Positions tab for the account in question. The 1st line listed there should be "Cash". Click on that and it will tell you what security that cash is being held in. FDRXX is one of a few different MMFs that can be optionally selected for the Core Position. (SPAXX is their default MMF for the Core Position.)

If FDRXX is your Core Position, and you are holding FDRXX in Quicken, then you can be pretty sure that the total value of your account in Quicken will not match the total value of your account that is shown in your online account.

There are two simple things to keep in mind regarding the Core Position:

You should have 0 shares held in Quicken for your Core Position even though Fidelity will show that you have shares held under "Cash".
Your account's total Cash Balance in Quicken should be equal to total value of your Core Position.

You can read more about this and what steps to take to resolve the holdings and cash balance issues in Quicken here: Downloads from Fidelity do not included activity into the settlement fund. While that is a QWin discussion thread the concept and basic steps to take are applicable to QMac. In fact, the last post in that thread was made by a QMac user who said the steps provided in there helped them to finally get their Fidelity account in Quicken into balance with what the online account shows. If you do decide to follow the steps in this discussion thread be sure to backup your data file first.

uppy23

I did restore a backup file but it didn’t solve the problem.

[Merged Post]

gasmanjoe

Thank you for the detailed instructions. Not sure I am up to it (I will likely mess it up…) but will give it a try. What I still don't understand is that looking at the community posts, this seems to have been a problem since at least 2020, but I was having no problems with the same portfolio for the past 5 years (all accounts showing, all transactions downloaded, all balances agreeing), until last week when suddenly this happens. Strange.

Anyway, will try to work it out based on all of the suggestions above. Thank you!

Quicken Kristina

Thank you for your reply,

Was the backup from before the problem started?

Were the cash reserves showing as a cash balance in the accounts, or were they reflecting as a specific holding? Do the problem accounts use Simple tracking or Detailed tracking? If they use Detailed tracking, are there any transactions that explain the cash suddenly going missing?

Thank you!

[Merged Post]

jacobs

@Quicken Kristina Three other users are reporting problems with Fidelity money market fund holdings disappearing from Quicken Mac in this thread…

https://community.quicken.com/discussion/7962308/fidelity-fund-disappeared

It hasn't been clear to me if this is a recent change at Fidelity or a change in Quicken Mac 8.2 or both.

[Merged Post]

Quicken Kristina

Hello @jacobs,

Thank you for the heads up! Since it looks like the same issue, I merged the discussions.

@uppy23,

Is it the Fidelity Government Cash Reserves that went missing, like the others in this discussion are reporting?

Hello All,

I forwarded this issue to the proper channels for further investigation and resolution. Please navigate to Help>Report a Problem and send a problem report with log files attached to contribute to the investigation.

While you will not receive a response through this submission, these reports will help our teams in further investigating the issue. The more problem reports we receive, the better.

We apologize for any inconvenience!

Thank you.

(CTP-13114)

jamarko

I am having the same problem with this in Fidelity and Quicken. It is extremely frustrating that there doesn't seem to be any solution.

Quicken Kristina

Hello @jamarko,

Thank you for letting us know you're seeing this issue also. To clarify, is the missing fund the Fidelity Government Cash Reserves, or is it something else? Is it reflecting in your cash balance, or is it completely gone?

Does manually correcting transactions resolve the issue, as described by another customer earlier in this discussion?

https://community.quicken.com/discussion/comment/20490146#Comment_20490146

I look forward to your response!

uppy23

The Fidelity Cash Reserves have been reflected as a specific holding with the amount of shares listed. It has been reported this way for years. After the recent update the cash reserves have been eliminated in Quicken for Mac. It’s not being shown as a cash balance either. Therefore my balance is not correct. It is being listed as not having the money in my account. Fidelity says I have the fund and the shares but Quicken says I don’t.

Quicken Kristina

Thank you for your reply @uppy23,

Thank you for clarifying that! When you get the chance, please also send a problem report with log files attached (Help>Report a Problem). Our teams need the information in the logs to track down the problem.

Thank you!

jamarko

Yes, it is the same account. There are too many transactions to manually add them so I will just wait to see if Quicken fixes the issue. It was working fine last week so not sure why it is not all of a sudden.

jamarko

I have tried to make the changes suggested throughout the support community with some, but not completel luck. I followed many of the instructions and I now show no Fidelity Govt Cash Reserves in my Quicken register - it is all cash. The overall balance is pretty close to what I have in Fidelity, but the cash register in Quicken is overstated by the amount of this change, so essentially Fidelity is reporting a lower cash balance than Quicken. When I go to reconcile cash, it suggests an adjustment by this amount to get the cash account reconciled, although if I do this, then the overall balance will no longer match the online balance at Fidelity. Cash becomes reconciled but not everything.