TIAA Quicken updates of Vanguard funds are shown as Admiral but should be Institutional

Question

I've had this issue for quite some time now. I have a TIAA SRA that contains Vanguard funds. When first set up, four funds were Vanguard Admiral funds but later, they were switched to Institutional funds. On the TIAA site, they are correctly listed as Institutional funds but Quicken lists them as Admiral funds each time I update Quicken. I then need to manually change all Admiral to Institutional funds. Can this be fixed? Is it a Quicken update issue or a TIAA website issue? This is my first post here so I hope I've asked in the right place. Thanks.

CraigWil · Answer

Jim, one last thought. The SRA account with this problem has data going back to 2020. I wonder if it'd be worth deleting that SRA account in Quicken, then have Quicken create the SRA from scratch. I don't know how far back the newly recreated account that Quicken would find would go but it may be after the date when TIAA and Vanguard converted the old genuine Admiral funds to Institutional. I'm also worried about deleting accounts n TIAA since I have other accounts with TIAA and would hate to lose more than the one SRA.

CraigWil · Answer

Jim, thanks for getting back to me. Here are some answers. When checking for fund updates with Quicken, four of my Vanguard funds in the TIAA SRA have this error only in the name of the fund. The share unit cost, number of shares added, and dollar amount of the dividend are the values TIAA shows for the Institutional fund. There is no conversion. It's just that Quicken shows the dividends as being an Admiral fund dicidend. The fix is quite easy but tedious, especially since the four funds generally have monthly dividends. My fix is to go into the transaction screen for the account, find each incorrect Admiral dividend that should be Institutional, right-click on the line item and edit the line item, changing the last word in the fund name from Admiral to Institutional.

Before doing this, when I go to the account's Holdings screen, each update that has dividends for the four funds  creates four new funds in my holdings, adding an Admiral fund holding. After I've edited all of the incorrectly named dividends by using the correct name, when I go back to the Holdings screen, the four newly created Admiral funds have disappeared as they've been included in the Institutional fund with the correct number of shares, share price, and current value.

When I go to Quicken's Security list, I see the four old Admiral funds with their correct ticker symbol and the Institutional funds with their correct (and different from the Admiral's ticker symbols).

All in all, I don't know if the source of the error is occurring in the TIAA website or if it's a Quicken import issue.

Jim_Harman · Answer

Do the Institutional funds have a different share price than their Admiral equivalents? I know they have different ticker symbols and CUSIP numbers. That would mean that after the conversion, you ended up with a different number of shares than you had with the Admiral shares. How is the conversion currently recorded in your Quicem file?