Fidelity EWC+ Brokerage Securities Sales Not Showing [Edited]

By QWC+ I'm assuming you mean EWC+ (Express Web Connect Plus). EWC+ is the download connection method that Fidelity now uses for downloading financial data to Quicken Classic since they have discontinued support for Direct Connect (DC).

It sounds like the security you are referring to is the MMF that is designated in your online account as the Core Position. Historically Fidelity generally downloaded the value of that MMF as Cash Balance and did not download the shares. The only transactions of that MMF that Fidelity would download would be the dividend transactions…unless that MMF was set up to reinvest dividends in which case that would cause Fidelity to download the dividends as shares and that would end up causing account balance issues because Fidelity would not only download those shares but would also download the value of those shares as part of the cash balance causing a duplication in value.

When Fidelity transitioned from DC to EWC+ this cash value reporting mechanism kind of fell apart. Fidelity and Quicken worked together to provide the option to include the MMF shares in the account holdings or instead to download the cash value of those holdings as the account's Cash Balance. So now, each person can choose to do one or the other but not both.

Which version of Quicken are you running (Help > About Quicken)? If you are not running R65.29 then you might want to update to it because the last several version updates did include several fixes, some of which address the issue you are describing.

Let me know after you update to R65.29 or if you are currently running this version. I can walk you through the steps that should eliminate the issue because you should have only the value of the MMF downloaded as Cash Balance or you should be getting shares downloads and holdings of the MMF, but not both.

Wize

@Quicken Kristina

Yes, these are money market fund transactions that are not downloading. The particular MMF I'm concerned about — the FDLXX — is not my core MMF. The Core MMF is the SPAXX.

Yes I meant to say EWC+ and I am running R65.29.

Quicken Kristina

Thank you for your reply,

To confirm, are these sales of FDLXX automatic redemptions to fund other activity in the account (such as purchasing shares)? If not, could you give an example of what kind of sale transaction is failing to download?

Thank you!

geoffj

I have a similar issue. I have a fidelity non-qualified plan account that is giving monthly distributions. The sales of the funds do not show up in Quicken, only withdrawal transactions for each of the sales. This has happened for 3 months now. For example the fidelity site will say sold XXX of fund YYY for $NNN and withdrawal of $NNN to my bank account. The sale transaction doesnt make it to quicken only the withdrawal.

https://community.quicken.com/discussion/comment/20529784#Comment_20529784

Are you saying that by making the MM fund (in my case FZDXX) the "core fund", the "redemption" transactions will download as they used to? If yes, what happens to the cash in the "sweep" fund (in my case SPAXX)?

https://community.quicken.com/discussion/comment/20531298#Comment_20531298

What does Fidelity.com show for your Core Position/Fund? FZDXX or SPAXX? It cannot be both and what is selected in Quicken must match what is shown in your online account.

The Core Position/Fund in your online account will usually be the 1st security shown on the account Positions tab but sometimes it will be further down the list. Sometimes it will be shown there as Cash Held in money market (click on that to see which MMF it is) but other times it will be identified by asterisks following the ticker (ex, SPAXX**).

It should be noted that if you currently have no positions held of the Core Position/Fund MMF then it will not be visible there.

To answer your question: Quicken now gives us the opportunity to have the value of the Core Position/Fund reported in Quicken as the Cash Balance or reported as shares. It is one or the other, not both.

If you select it to be reported as Cash Balance, then there will be no (nor should there be any) redemption (Sell) transactions downloaded into Quicken. Instead, other securities Sell proceeds, Buys, Dividends, Interest, Misc Exp and Distributions transactions will simply debit or credit the Cash Balance. This has been the historical default for how Fidelity used to download for over 20 yrs.

If you select it to be reported as Shares, then the Cash Balance in Quicken should always be $0.00 and there will be Buy and Sell transactions of the Core Position MMF downloaded into Quicken. This is something Fidelity generally did not do historically so for most people this is new.

Again, the Core Position in Quicken and the Core Position on Fidelity.com must be the same or there will be account Cash Balance and Shares issues in Quicken that can greatly adversely affect the account balance.

If the two are not the same, this can usually be corrected by going to the Online Services tab of Account Details and clicking on Set/Edit button, then clicking on Reset to Default and then clicking on Customize to select the MMF that is the Core Position. This process will then allow you to set your preference to report the Core Position as Shares or as Cash. When done, Quicken will make adjustments to the account register and the cash balance. There might still need to be one-time adjustments to the Cash Balance and/or Shares (usually to delete Placeholders). Once done, close Quicken, reopen it and run OSU, again. Everything should now be in balance.

Thanks for the info. What you described is pretty much how I understood it. I just checked with my account exec and was told that FZDXX can't be designated as a core position. Guess I'm stuck with doing manual "redemptions" unless Fidelity and Quicken figure out a way to get things back to where they were.

https://community.quicken.com/discussion/comment/20531355#Comment_20531355

For most Fidelity investors your account exec is correct. The standard options for Core Position funds for brokerage accounts are SPAXX and FZFXX. For retirement accounts they are SPAXX and FDRXX. (FCASH is another option but FCASH is not really a MMF.)

But some high net worth investors can designate FZDXX and a few other premium MMFs as their Core Position. It has a little bit higher returns (by another 0.1%-0.19%) than the standard Core Position offerings provide.

Anyone can invest in FZDXX as a standard MMF security but it does require a $100K minimum investment. IMO, FZDXX is more of a "feel good" investment because the returns advantage is very small. In a best case scenario an additional 0.19% return on $100K is only $190/yr. One would be far better off investing most of that into a good balanced MMF.

Anyway, back to your issue: If your Core Position is SPAXX and not FZDXX and if redemption transactions (Sell transactions) of FZDXX are not downloading into Quicken that is an issue.

Are you running R65.29? If not, you may want update to is because it includes a fix regarding Core Position MMF handling.
Is SPAXX identified on the Online Services tab of the Account Details as the Core Position? If so, go through the Set/Edit process mentioned in my last post and "change" it to SPAXX, again. I know it sounds crazy but believe it or not that is what fixed the issue for me after I'd updated to R65.29. Once done, close Quicken and then reopen it and run OSU. It was only after closing, opening and running OSU, again, that my MMF issues were resolved.
If SPAXX is not identified as the Core Position, try changing it to SPAXX through the Set/Edit process. Once done, close Quicken and then reopen it and run OSU.

If none of this resolves the issue for you, it should be reported to Quicken so they can investigate and address it with Fidelity and perhaps Intuit. If you have not already done so, please go to Help > Report a Problem and report this issue. They still are very focused on getting the remaining EWC+ issues resolved.

»» True about the $100k minimum, but once you're in, you don't need to maintain it. I dropped the balance down, literally the next day, to much less - just enough to handle day-to-day business.

Anyway, back to your issue: If your Core Position is SPAXX and not FZDXX and if redemption transactions (Sell transactions) of FZDXX are not downloading into Quicken that is an issue.

»» To be clear, the issue is specifically "Redemptions" (Fidelity's term, not mine). I identified this problem back in October and wrote a fairly lengthy post about it at the time. Fidelity seems to define a "redemption" as a sale that's automatically generated from a specific money market, in my case, FZDXX, to cover a cash shortfall in the core position (SPAXX) resulting from another transaction. Its that particular transaction that no longer downloads. I can manually enter a "sale" of FZDXX on the Fidelity site, and it will download just fine. I reported the problem when I first saw it, and there's been an open ticket on it (I don't recall the number) since late October or November.

Are you running R65.29? If not, you may want update to is because it includes a fix regarding Core Position MMF handling.

»» Yes, on 65.29

Is SPAXX identified on the Online Services tab of the Account Details as the Core Position? If so, go through the Set/Edit process mentioned in my last post and "change" it to SPAXX, again. I know it sounds crazy but believe it or not that is what fixed the issue for me after I'd updated to R65.29. Once done, close Quicken and then reopen it and run OSU. It was only after closing, opening and running OSU, again, that my MMF issues were resolved.
If SPAXX is not identified as the Core Position, try changing it to SPAXX through the Set/Edit process. Once done, close Quicken and then reopen it and run OSU.

SPAXX is the core position. I tried to reset out of and back to SPAXX as you advised, but couldn't get there. The only choice I was given was NONE. In addition, the Cash Representation button in the register mysteriously disappeared, but I was able to get to the reset function via the Online Services tab. Still no joy. Thinking I was getting into a tangle, I opted to restore. I was back to SPAXX, but got caught up in another, unrelated problem. After doing the restore, I did an OSU and EVERY SINGLE ACCOUNT - banking, checking, credit, brokerage, IRA, from every FI came up with CC800 errors with the red "no go" sign. I had to spend the next hour and change resetting/relinking everything. This was the second time it happened to me is as many weeks. The first was on Jan 1. I chalked that one up to some new year related fluke, as a few things were awry on that day. Quicken flipped the year cycles causing problems with the Tax Planner and Budget (which is what prompted me to go from 65.17 to 65.29).

I've been using Quicken for almost 20 years, and during that time I've restored files dozens, if not hundreds of times for various reasons. I can recall seeing this issue once or twice, and even then, it only affected one account. I hope to hell this isn't some devious new bug in the restore process. Restore is too important a tool to have to be hesitant to use.

In any case, thanks for your help.

https://community.quicken.com/discussion/comment/20531421#Comment_20531421

I found something yesterday that is really odd with Fidelity and the displayed Core Position MMFs.

As mentioned earlier, many of my Fidelity accounts are managed by a 3rd party. For the majority of the time the 3rd party has been managing them all of the retirement accounts had FDRXX as the Core Position.

About a month ago the Core Position in one account changed from FDRXX to FZDXX and I had assumed that the 3rd party manager made that change. I checked the Fidelity Mobile app which confirmed that FZDXX is now the Core Position MMF for that account. Yesterday, the 3rd party manager told me that Fidelity determines which MMF will be used for the Core Position. OK, odd but OK.

Now here's where it gets weird: As mentioned, the Fidelity Mobile app shows the Core Position for this fund is FZDXX…but the browser website on my computer shows the Core Position is FDRXX! Clearly there is something broken at Fidelity…at least with this account.

Do you have the Fidelity Mobile app? If so, would you compare what it shows for your Core Position to what Fidelity shows for the Core Position on their website?

I keep $0 cash in my core position so nothing displays on either website or mobile. I had to ask my account exec what the core is. If it'll help you out, I can sell a few bucks of the FZDXX and see where it winds up.

https://community.quicken.com/discussion/comment/20531499#Comment_20531499

Well, it would be interesting to see what happens and see if your situation is similar to what I just saw. Just how does Fidelity show different Core Position securities for the same account on 2 different account access devices? If you get the same results then we can report it to Fidelity and Quicken as a Fidelity issue. Otherwise, does it mean it's just my account that is affected?

https://community.quicken.com/discussion/comment/20531500#Comment_20531500

@Boatnmaniac I placed an order. It'll execute on Monday, so I'll know Tuesday where it ends up.

https://community.quicken.com/discussion/comment/20531514#Comment_20531514

Thanks! I'll hold off on reporting this until then. I don't want them fixing anything until we know if my observation is a 1-off or if it is something bigger.

https://community.quicken.com/discussion/comment/20531534#Comment_20531534

Test sale of FZDXX is complete. Everything is as it should be. Browser and mobile app Fidelity sites both show the correct $values for FZDXX and SPAXX. Quicken shows the correct cash balance (SPAXX holding only) and the downloaded Fidelity cash balance matches what Quicken displays.

Note: The preference "Never interpret downloaded MM as cash" is UNCHECKED, which, as I understand it, means that the FZDXX holding should show as cash, but it doesn't (it did before EWC+). I don't care either way, so I keep to the old saying, "if it ain't broke, don't fix it".

Hope this helps.