Does anyone know how to fix Fidelity mutual fund posting as described below?

SCPat

I finally have figure out what the problem is with my Fidelity Annuity since we were forced to give up DC for QC.

Fidelity mutuals update about 9pm PST, not earlier when the stock market closes. At 9pm, I opened Fidelity and saw the gain/loss - this time was a loss, for the day 10-14. I opened Quicken and looked at those 6 funds in the annuity, the loss from 10-14 is showing on 10-15! It's not even 10-15 yet!

So, I see it appears that the pricing dates are wrong, and although it 'allows' me to change the date, it doesn't update it. So the gain/loss for each day is posted on the NEXT day, before the mutuals even open.

I called Fidelity customer support, he had no clue what I was talking about. Sad.

So, can anyone offer how to fix these 6 funds within Fidelity without having to manually change pricing each and every day of my life?

This is from Fidelity on today, 10-15, showing last pricing on 10-14 but NO gain/loss for the current date of 10-15 since the market is still open and it won't update until after 9pm PST.

This is how Quicken is showing one of the above funds - notice how it says CLOSING PRICE ON 10-15 - the market is open, there is no closing price for 10-15. It won't allow me to change and save it to 10-14

This is a make it or break it deal for me with Quicken, I'm spending far too much time on it. TYIA!!

[Edited - Removed partial account numbers]

Quicken Kristina

Hello @SCPat,

Thank you for reaching out! If you haven't already done so, the first troubleshooting step I recommend is backup your Quicken file and try rebuilding the price history. To do that, please follow the instructions in this help article: https://info.quicken.com/mac/updating-share-prices#Updatingshareprices-Rebuildpricehistory

I hope this helps!

SCPat

I tried that, it says none of my 6 fund numbers were able to be identified - which in itself is bizarre. The balances get updated daily, it's just the pricing that is messed up - every single day. [Edited - Language] So, I deleted the account and reactivated it. We'll see what happens on Monday.

I do see a trend with this. It seems that Quicken can't tell that these mutuals in the annuity don't update until 6pm EST, not earlier when the stock market closes at 4. Therefore, it incorrectly posts the gain/loss as of the next day. So, for example, at 6am the next day, before the market even opens, I have a gain/loss on those 6 accounts that is reported for the day but the market hasn't even opened - it's the previous days. The previous day pricing always reflects the same for the opening and the closing. This is beyond annoying, please find a fix! TYIA.

Quicken Kristina

Thank you for your reply,

Since rebuilding the history did not correct the issue, if the issue persists on Monday, I recommend contacting Quicken Support directly for further assistance, as they have access to tools we can't access on the Community and they're able to escalate the issue as needed. The Quicken Support phone number can be found through this link here. Phone support is available from 5:00 am PT to 5:00 pm PT, Monday through Friday.

I apologize that I could not be of more assistance! 

SCPat

Thanks - I will try again and appreciate your efforts. I don't have good luck with Q support, I've tried twice, it's like whomever I am speaking with just doesn't understand it, but I'll try again.

John_in_NC

Hi, @SCPat

A few things: 1) the quotes server will not have immediate pricing when the markets close. There usually is a 2-3 hour delay as prices get updated, so 9PM PST is about right. That said:

2) Depending on the fund, not all funds (depending how they are listed) get their prices from the quote server (which I suspect is happening here.) Some will have to get the prices directly from the brokerage when you update the account. And in my experience with Fidelity, their website/quotes are always a day behind for said funds. They won't get refreshed until midnight ET.

SCPat

HI John, what you said does make sense. I never encountered this daily issue until we had to change the Fidelity connection. I don't know how to fix it.

John_in_NC

Hi, again, @SCPat

The day-behind prices acquired for funds not provided by the quotes server is not anything new-I used to see that even with Fidelity using Direct Connect. You might be noticing it now because you are focusing on Fidelity during this transition.

What also might make it more noticeable is that we likely aren't getting a real time connection to Fido. If the transactions are being aggregated behind the scenes (which they likely are), then it doesn't matter how often you update during the day-you are just being presented with the data that was harvested early that AM. (Prices provided by the quote server are independent of this-just the data from Fidelity.)

Assuming your data for these funds is simply a day behind, I really don't think there is anything you can do, short off manually entering the prices. And that can even be a challenge finding the current price as the Fidelity website shows yesterday's prices as well. I have just learned to live with it.

SCPat

That's a bummer for sure! I never experienced this with DC and I've had Fidelity for years. It seems like window users don't have this issue, I'm on a Mac. Now, with only with the annuity, Monday has no gain/loss reported as it goes on Tuesday. Friday is a complete mess; it doesn't go on Saturday, it just goes away.

There has to be a way….

SCPat

Just to let you know, I contacted Quicken once again and this time, I got a guy who really understood what I was saying. I had screenshots so he could see it as well. He reached out to others and came back and said it's something Quicken cannot fix at this time. Apparently, now that they are not getting pricing directly from Fidelity through the DC and coupled with the fact that mutuals only update once daily and about 3 hours after the stock market closes, he said something about getting pricing from Morningstar -so it automatically goes to the next day. I know I am not the only one that has some mutuals, so it's obviously affecting others, he said he would see about getting it added to all the other Fidelity problems, but there is no guarantee it'll ever get resolved….terrible to hear but I truly appreciated the fact that he really 'got it' so we'll see. I've been with Q since the 90's when it belonged to Intuit, never have I experienced such an annoyance. But, it is what it is, and hopefully, it will get corrected. Until then, if I want it accurate, I'll have to update each fund within the mutual - daily - that's pretty impossible tho….

John_in_NC

Hi, again @SCPat

Yes, this affirms what I have been stating: Quicken can get publicly listed funds directly from Morningstar a few hours after the markets close. Nothing has changed on that front.

It is the non-publicly listed funds you hold with Fidelity that must come directly from them. And those will come the next day.

In the past, DC provided those prices later in the evening which is what I suspect you saw before. (IIRC, you are West Coast which makes sense) Now, with QC, you won't see those prices until the next day.

SCPat

Yes, you are 1000% correct, I just do not understand why it's never been an issue in the past years - or actually before losing the DC in July. I could update our accounts the next day and those particular mutuals reported accurately on the day the activity happened. Friday's gain/loss just disappears since everything is closed on Saturday. It's a mess. I wish there was another program to use.

John_in_NC

If I recall correctly, you are West Coast (?) I question if it is because you updated late enough each night that Fidelity was already providing the updated prices for non-public funds. Now, you are forced to being a day behind.

But, before I say "that's just the way it works", I should ask are the prices being reported on the correct dates in the price history? A delay in the update is expected, yes. But, if Friday's prices are being recorded as being on Saturday-that is indeed a problem.

DC is being phased out for multiple reasons, so I doubt you would have any better results with another application.

(I hope I am being helpful and not creating more angst.)

SCPat

Yes, I'm in CA. Regarding the price history, no it is no longer on the correct date. For example, Monday's pricing will show the opening and the closing price as the same. Then it'll add pricing for Tuesday that actually is the closing price on Monday on my Fidelity site. That pricing on Tuesday will also have the same price for opening and close - but the market hadn't even opened yet.