Matching Security

Question

Up until my most recent attempt to update my investment records, the automatic updating process went fairly smoothly.  This time, the most unusual and confusing thing happened.

One of my funds, a Fidelity money market account, appears to have diversified investments resulting in 3 or 4 transactions at the end of each month that are directly related to interest being earned or "interest income".  Until this attempt to update, all these transactions were previously handled by Quicken. Today, I got stopped in my tracks and a Matching Security screen popped up advising me that my "brokerage provided information about the following security" and provided me a couple different options regarding how to handle.

The initial information provided is: FDIC INSURED DEPOSIT AT BNY MELLON NOT COVERED BY SIPC

The first option is asking if "this the same as one of the securities that you are already tacking in Quicken?"…. and it already had highlighted "FDCI INSURED DEPOSIT AT ASSOCIATED BANK NOT COVERD BY SIPC"

I haven't a clue if Quicken was smart enough to make the match for me or not.  Quite bluntly, I haven't a clue why this is now occurring or how to handle.

This is disturbing that something changed in Quicken that is causing more headaches.

Holding out hope that someone can help.

Thanks

PS.  I wanted to include some screen prints but didn't want to share much personal information in a community setting.

DonBFlorida · Answer

Thank you for your interest in my problem.  I'll try to answer your questions.

* This is a Fidelity Cash Management Account.  It is effectively my checking account.
* I have since learned that it is a FDIC-Insured Deposit Sweep Program.  
* Whatever download issues exist, they seem to have occurred fairly recently.  Quicken had been importing this information correctly for quite some time.  Within the past few months or so, it suddenly stopped and they started to push me into this Matching Security screen that pops up advising me that my "brokerage provided information about the following security" (as noted in my initial comments.
* If it is a known issue then each one is pointing the finger at the other, which is frustrating.  I called Quicken first and they said it wasn't their problem, it was something that Fidelity has done.  Then I called Fidelity and they said it was something that Quicken is doing.  
* I'm just trying to figure out how to accept it into my Fidelity accounts since Fidelity Cash Management Account is not a choice in the Matching Security process.

If you or anyone else has any suggestions on how to handle, please let me know.

Thank you

Boatnmaniac · Answer

One of my funds, a Fidelity money market account…

Did you mean "One of my accounts, a Fidelity market fund…"?  If so, what is the name and ticker of that MMF?

FDIC INSURED DEPOSIT AT BNY MELLON NOT COVERED BY SIPC

FDCI INSURED DEPOSIT AT ASSOCIATED BANK NOT COVERD BY SIPC

These sound like they are Sweep Bank Accounts, not MMFs.  Does the Positions tab in your online Fidelity.com account show one or both of these holdings?  If so, what is the ticker for it or them?

Also, in your Positions tab the first item listed should show show CORE**.  Does it look something like this or does it show something else when you click on it?  If it looks like something else, what fund and ticker does it show?

What kind of account is this issue in?  Brokerage, IRA, Roth IRA or something else?

Fidelity has changed the connection method for downloading from Direct Connect (DC) to Express Web Connect+ (EWC+).  I suspect that the issue you are seeing is a known issue in which Fidelity is downloading or Quicken is importing the Core Position incorrectly.

DonBFlorida · Answer

Sorry… I thought I was only saving a draft… didn't realize it got posted.  I have updated it with more information and also included the name of the brokerage.