I have searched to find recent/relevant discussions about Fidelity, and give up and am creating this post.
There is an announcement thread last updated on 10/28 by @Quicken Janean
In it, you write:
"If you experience one of the issues above, please bookmark this discussion for updates and share your details in the related discussion so our teams can investigate further."
There is no link to "the related discussion."
The issue is probably related to
Money Market Fund Redemptions Missing (CBT-884) – Missing redemption transactions for multiple securities.Status: Under investigation.
I wanted to fill in some details.
This occurs on both Windows and Mac.
My core fund is FDRXX.
To re-test this, at Fidelity I transferred money from one account to another, making sure that there was not enough cash in the core fund to cover the cost of the entire transfer. Fidelity sold some of my shares in FZDXX, which is the Fidelity Mmkt Premium Class money market fund and is an additional money market fund in the account
In Quicken, my core was represented in cash. (Most likely because I periodically adjust the number of FDRXX shares back to 0, and adjust the cash balance.)
The transfer, as represented in Quicken, is entirely attributed to cash, and no FZDXX gets sold. (The redemption transaction at Fidelity is entirely ignored). The result is that the cash position in Quicken becomes negative, while the FZDXX shares remain too high. The workaround solution is to remove the proper number of shares of FZDXX, and increase the cash balance to $0.
If people have their cash position in Quicken represented in an actual core fund (like SPAXX), I speculate a similar thing would happen, except that the number of shares in the core fund would become negative. If someone has a setup that lets them confirm that, please add to this discussion your findings.
At the Fidelity web site, these automatic redemptions of non-core money market funds are represented in an unusual way, which suggests confusion at Fidelity itself. The text for the activity reads:
REDEMPTION FROM CORE ACCOUNT FIDELITY MMKT PREMIUM CLASS (FZDXX) (Cash)
The thing that is wrong is that the redemption is NOT from the actual core account.
But the fact that they use this text suggests at some level Fidelity "thinks" it really is redeeming from the actual core, and so they might pass it that way to Quicken - which would explain why the cash in Quicken goes negative.
In QWin, this is shown as a Withdraw transaction, with a memo stating the name of the account the money is being transferred to. (The receiving account gets a Deposit transaction, with a memo stating the name of the account the money is coming from.)
In QMac, this is shown as a Payment/Deposit transaction, with the Security/Payee field stating the name of the account the money is being sent to, and a Description/Category of "Transfer." (The receiving account gets a similar Payment/Deposit, with the Security/Payee stating the name of the account the money came from, and a Description/Category of "Transfer.")
I apologize if these details are already included in CBT-884.
