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Fidelity Investments going to EWC+?

mrzookie

I got an email from Quicken today letting me know that my connection to Fidelity will be migrating to a "new, more secure protocol" (no specific date listed). I assume this means DC will be replaced with EWC+. That doesn't bother me. What is concerning is that I remember reading a while back that once this change is made, Fidelity accounts in Quicken will only use Simple Investing (no transaction level info sent). I hope that's not true bc it would really suck.

Can anyone offer any insight on this?

Thanks.

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Comments

Drinkingbird

Fidelity has had a message on their website for like a year saying they are going to be changing. The assumption is that it will be FDX/EWC+ and that it will now support full transaction downloads. Adding that functionality is probably what has delayed the conversion.

For the last couple of years you could use FDX/EWC+ but only for simple investing, no transactions. If they planned to force that, they would have done it long ago.

mrzookie

@Drinkingbird Thanks for the info. Hope you're right!

Quicken Kristina

Hello @mrzookie & @Drinkingbird,

Thank you for coming to the Community with this question! I checked with our teams, and this is the information they provided:

Fidelity Investments (DC) and Fidelity NetBenefits (DC) on Windows and Mac are being discontinued
The new EWC+ connection will support both Simple and Complete Tracking
The FAQ in the email that was sent, https://www.quicken.com/support/changes-your-connected-services-quicken/ is the article that explains what's happening for both Mac and Windows

I hope this helps!

Drinkingbird

https://community.quicken.com/discussion/comment/20497462#Comment_20497462

I think the confusion stems from the fact that that FAQ is just generic for all EWC+ conversions and not specific to Fidelity. Since people know that for a couple years now, EWC+ with Fidelity only allowed simple investing with no transaction downloads, there is concern that people are going to lose that functionality. However I don't believe that is going to be the case, which you've confirmed.

Quicken Kristina

Thank you for the feedback,

I'll forward your feedback to the proper channels.

Thank you!

John_in_NC

I was waiting for a discussion regarding the email. (I use NetBenefits with DC)

I knew it was coming, as the writing is on the wall for DC (which really doesn't bother me as long as I get detailed tracking). The only drawback I saw in the info was only being able to download into one file. That is a problem for me as I keep a second, duplicate file for beta testing.

And I wish Quicken would get their act together regarding messaging: there all these continued references to EWC+, as EWC never existed on the Mac. We can assume that means DC will now be Quicken Connect, but is that EVER mentioned in these conversions?

Boatnmaniac

@John_in_NC - I agree that EWC+ does not bother me provided we do get Complete Tracking.

The only drawback I saw in the info was only being able to download into one file. That is a problem for me as I keep a second, duplicate file for beta testing.

Is it that we can download only into 1 file per login? If it is this, then like you it would be somewhat problematic because I, too, have a unique test file that I use so there are 2 files using the same Fidelity login. I wouldn't like that restriction but I could tolerate it.

Or is it that we can download into only 1 file regardless of the number of unique user online accounts and logins there are? This would be very problematic because 3 of my 4 primary data files have their own Fidelity accounts. It would mean that I would need to stop downloading Fidelity for 2 of them which would be totally unacceptable.

mrzookie

@Quicken Kristina Thanks for your reply - it helps me breathe a little easier. @Drinkingbird said it exactly right in their post - the FAQ referenced in the e-mail was not specific to Fidelity, and given the history of what has been discussed on this forum, it was easy to draw the wrong conclusion, or none at all. I, and I'm sure others here, appreciate the definitive answer.

John_in_NC

https://community.quicken.com/discussion/comment/20497547#Comment_20497547

From the help file:

What if I'm being asked to authorize my accounts repeatedly?

Second Cause:
This behavior may occur if you have multiple data files with migrated accounts connected for transaction download. At this time, the new authorization process is limited to a single data file, and if migrated accounts are connected or authorized in a different file, the original file connection is signed out, and you will again be prompted to authorize the accounts.

Boatnmaniac

https://community.quicken.com/discussion/comment/20497549#Comment_20497549

Ugh! Time to start exploring my bail-out-of-Fidelity options. I've had accounts with Fidelity for over 30 yrs but this on top of their money grabbing FCASH fiasco just might be the last straw for me.

Ray

I have two data files too. Around May, OSU failed on one file. Fixing it caused issues in OSU of the other file. Support told me that I could only have one data file connected. I found this was not true and fixed the issues. See Multiple Data Files Using the Same Accounts Fail — Quicken

If it were true, a user couldn't have Quicken on their desktop and laptop. Support had me restore a backup from Quickens cloud to my laptop. Both the desktop and laptop OSU worked fine. On the other hand, restoring a backup from my PC required reactivating the institutions. Running OSU on the backup can corrupt OSU on the original file.

In my opinion, EWC and EWC+ have lots of peculiarities and inconsistencies. The financial institution, Intuit, Quicken, and our Quicken data file are involved in OSU. Plus uses tokens that increase security but reduce reliability.

Currently, Citibank is a mess. I had to reauthorize either my personal, Costco, or American Airlines credit cards nearly daily for the last 10 days.

Chris_QPW

https://community.quicken.com/discussion/comment/20497924#Comment_20497924

There has been a rash of CC-800 (deleted account error) of late (but less reported lately), and some of these were connected with using the same data file on two different machines. I even was able to reproduce it on my machines.

To this day I have yet to see any kind of explanation of what is/was causing that.

What I will say is that I have a Costco credit card and Chase accounts for checking, two credit cards, and investment accounts for both me and my wife. These are setup with Express Web Connect + and have been for quite some time. So, these problems aren't a "given" with Express Web Connect + something changed (and maybe changed back).

The one thing that got me out of the endless reauthorization loop is to deactivate all my accounts and readd them using the Add Account dialog path. But note I don't use exactly two data files. I have a copy of my data file that my wife uses to look at, but she doesn't run One Step Update.