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Liquidated Fidelity security not being removed from portfolio

WaterLover

Earlier this week, Quicken properly downloaded my Fidelity transaction in which I exchanged all shares of a mutual fund for another. The problem is that it lists both mutual funds in my portfolio and still lists the fund I no longer own as "Currently Held." Because Quicken is not removing the sold security, it is showing my account value as what it would be if I owned both securities.

I've never had this issue before and am trying to determine the problem. I tried to add a "Remove Shares" transaction as a workaround, and it still would not remove the security.

Here are screenshots of the transaction view and the portfolio view showing this issue.

Transaction view:

Portfolio view:

Any help is greatly appreciated!

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Comments

jacobs

@WaterLover Some brokerages transmit a transaction to Quicken before its actual settle date, and therefore don't reporting to Quicken the zero shares balance for the original security. That's why I suspect your Remove Shares transaction isn't having an effect; Fidelity is still telling Quicken you have the shares in the original security. I'd suggest getting rid of your Remove Shares transaction and waiting a day or two longer to see if this resolves itself.

Jon

If the order was put in on the evening of the 2nd, it would have executed during trading hours on the 3rd and settled after close of business today, and might not get picked up by Quicken until sometime tonight. So I agree with @jacobs - I'd at least wait & see how things look tomorrow.

WaterLover

Thanks for the responses, @Jon and @jacobs! I can report that after updates as of 2:50 PM, nothing has changed. 😐️

I did notice that if I create a new Quicken account and link the Fidelity account to it, essentially wiping the slate clean, it gives the correct balance. I'm considering doing that and moving all the historical transactions from the original Quicken account in order to preserve those.

Does that seem too extreme a move?

jacobs

@WaterLover That is a potentially viable strategy…. but I'd still wait one more day just to see if things equalize in your existing account.

If you do create a new account, select all the transacitons in your old account and move them to the new account, there are a few things to look out for. Quicken will have created an opening balance and placeholder transacitons in the new account to establish the shares in your holdings and any cash balance. You'll need to delete them, since all the transacitons you're moving in should replace the placeholders. Also check for and eliminate any duplicate transactions in your old account and the new one in the past 90 days. And then make sure your portfolio for the combined (new) account is completely correct compared to what Fidelity currently shows.

WaterLover

@jacobs-Just reporting that the existing account did not update and still shows the mutual fund that I no longer have. I will go ahead with the new account workaround and also report the problem to Quicken. I appreciate the caution about how to handle the placeholder transactions that show up.

WaterLover

Well, here is an interesting update: I disconnected my "broken" Fidelity quicken account, created a new one and linked it to the Fidelity account, and moved the transactions. A few new placeholder transactions popped up that I didn't expect. In an attempt to understand them and make sure I had things right, I undid the transaction move, returning them to the "broken" Quicken account with the intent of moving them back to the new one.

Upon restoring the moved transactions, the "broken" Quicken account was fixed. It now reflects the complete liquidation of the mutual fund in the portfolio view and the correct balance.

I am all set for the time being, but some flag must have gotten cleared during all the transaction moving. Hope it stays good from here on.

jacobs

Okay, that made my head spin, but I'm glad ttat whatever was messed up is now apparently resolved! 😀

WaterLover

Basically, I moved all of my transactions out of the original Fidelity account, then moved them back in. And for whatever reason that fixed it. 🤷‍♂️

Whatever it takes, right? 😀