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ExchangeIn - please revert back to old method

TallBrad

Previously, when I made made an exchange from one investment to another in my 401k plan, Quicken would download the buy and sell transactions and it was a clean process. Now, it only shows what I sold but NOT what I bought. I now have to go in and manually try to input the correct data when I don't have all of the information I need from my 401k provider. I don't know if I have correct price per share or anything else. All I know is the amount of the exchange.

I've been a Quicken user for decades, but the decisions being made is making it more and more difficult to remain a customer. The product is getting worse while the price keeps going up. On a side note, the portfolio x-ray hasn't worked for me for a few years now after an "upgrade" from Quicken. X-ray hasn't recognized my international holdings for years and it is one of the most popular international mutual funds in the country.

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Comments

Quicken Alyssa

Hello @TallBrad,

Thank you for taking the time to share your experience and provide these details.

To help us better understand what’s happening, could you please provide a bit more information?

Where is your Quicken data file located (for example, on your local drive, a network drive, or an external/cloud-synced folder)?
Is your file being backed up or synced by any third-party cloud service, such as iCloud, Dropbox, or OneDrive?
How long have you been experiencing this issue?
Which international holdings are not being recognized?

With a bit more context, we’ll be better equipped to pinpoint what’s going on and find a suitable solution.

Thank you!

Doug Carson

This is happening to me too.

The transaction is an exchange of one fund for another within an IRA. The transaction is listed as "Deposit". No security or fund is listed and the description says Exchangein. The balance of that account is listed correctly but the investment performance report has me losing 98%.

It seems obvious to me that Quicken is mishandling the exchange function within an IRA. I have deleted the account and readded it but that did nothing.

My datafile is on the local machine and these are all domestic entities. (International exchange rates are not part of this discussion). This issue just started this month. I do no third party syncing other than Quicken Online.

Thanks, Doug Carson

EvDob

If this is Fidelity it should be a known issue with the EWC+ connection.

Doug Carson

Yes. It is a Fidelity account. What does EWC+ connection mean?

cyberphile

This happened to me also. I posted about it here on Oct 11th.

https://community.quicken.com/discussion/7967042/fidelity-netbenefits-401-k-is-still-downloading-incorrect-transactions

EvDob

https://community.quicken.com/discussion/comment/20517080#Comment_20517080

It's the new Express Web Connect+ connection between Fidelity & Quicken which Fidelity recently transitioned to.

Doug Carson

Thanks cyberphile. This sounds like the same problem. The action type for me was "deposit" and I think it started when Quicken prompted me to reauthorize as they said Fidelity was changing their connection method back at the beginning of october. I hold my IRA funds long term and hadn't made a change since July. I found it when I checked my investment performance report and it reported this account as losing 70% ytd.

Quicken Alyssa

Hello All,

Thank you all for sharing your experiences with us.

If you are still experiencing this issue, the next best step would be to contact Quicken Support directly so they can look at your log files and determine how this information is being sent to Quicken.

Hope they can help get to the bottom of this for you.

James White

Hi,

I have this same issue with my Fidelity 401k. I have been able to enter transactions manually by comparing to my Fidelity account, but it is a laborious process.

I personally believe the fault lies with Fidelity, because it is just as messy on Fidelity's website. That said, has there been any success with fixing this? I really don't want to use manual transaction for the foreseeable future.

James

Quicken Alyssa

Hello @James White,

Thank you for adding to this discussion.

Please contact Quicken Support so they can collect log files and see how this information is being sent to Quicken. They can also process an escalation if needed.

Thanks again.

James White

Ok, I will contact support Alyssa.

Note that I've figured out what some of the terminology means, and how it's translates into a Quicken "Action":

Fidelity "Contribution" means the action "BoughtX" in Quicken (this is a regular contribution to your 401k)
Fidelity "Exchange Out" means the action "Sold" in Quicken (as in selling shares). This occurs when you rebalance your portfolio.
Fidelity "Exchange In" means the action "Bought" in Quicken (as in buying shares). Again a rebalance.

James

Jim_Harman

@TallBrad re: the X-Ray and your international fund:

The X-Ray only includes publicly traded securities with valid ticker symbols. If your international fund is a private version of the fund, as often found in 401(k) accounts, or if you do not have a ticker symbol for it, that would explain why it is not included.

Quicken Alyssa

@James White,

Thank you for the update and for sharing the additional information you found.

@Jim_Harman

Thanks for the explanation and insights on that.