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Issue with Merrill Edge (Lynch)

gulf83

2 days ago, I did my normal d/l. I have 4 accounts.

When the d/l finished, there was a large discrepancy on one of my accounts, namely my IRA Managed Acct.

I tried d/l over the next day or two but it never corrected itself. Today I first reset the account without success. I then deactivated and reactivated the accounts, again with no success. The one account still shows the discrepancy.

Update: I just discovered that the holding in question split 6:1. I manually adjusted that holding and now it's ok.

But:

Now, when I run an update, my updated summary does not show the Merrill Lynch accounts at all. When I look at the individual accounts, there is no date or time for the last update indicated in the top left corner of the account.

Now that I have tried all the normal "fixes", what can I do to remedy this?

Thank you

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Comments

Quicken Laura

Hi @gulf83,

Thank you for sharing what you are experiencing. I checked your accounts on our end, and only three of them appear to be connected. I'd appreciate it if you could check if the accounts are connected via Express Web Connect + in the account list.

Go to tools.
Select the Account list.
Enable Show transaction download status under Options at the bottom left of the account list.
Confirm whether or not the accounts are connected.

If they are connected, please back up your file and validate it.

Go to File
Select Validate and Repair File
Choose Validate File
Click OK

Lastly, run an update and check if they work as usual.

Please let me know how it goes!

gulf83

Laura:

Thank you for your reply.

I tried what you suggested, and everything is OK based on your recommendations.

When I update Merrill, this is what is get after completion:

1 step update.JPG

For example, this is what I used to receive:

completed update.JPG

I would also see this when I opened an account:

Now, with the Merrill accts. all I see is a blank:

I don't know if in fact the accounts are updating or not. I recently closed one of the accts.

gulf83

I would like to add that I am updating 7 accts. daily, but only 4 of those accts. are appearing in the Update Summary.

Quicken Laura

Hi @gulf83,

Thank you for providing the additional information; it’s very helpful. I’ve sent you a direct message with some additional steps to try. Please check your messages in the upper-right corner.

Let me know how it goes or if you have any questions!

gulf83

Laura:

Thank you VERY much. That one change fixed my problem!

I was just curious. I had a stock split in a mutual fund from Merrill. The fund split 6:1. Merrill/Quicken reported the lower stock price which substantially lowered the value of my fund, instead of reporting the split. It has been three days now and it never did update. I did a manual entry for the stock split which worked. Is this usually the responsibility of the Merrill to report the correct split, or is Quicken unable to make an automatic entry for the split?

Again, thank you for helping me with my earlier issue. You are very knowledgeable and professional

Quicken Laura

Hi @gulf83,

That's great news! I'm glad to hear the issue has been resolved.

What you’re seeing can happen depending on how Merrill Lynch reports the transaction. In many cases, financial institutions don’t send a true “stock split” transaction. Instead, they transmit it as two separate entries—Removed Shares (for the old shares) and Added Shares (for the new shares). When this occurs, Quicken won’t automatically recognize it as a split and won’t create a split transaction.

Because of this, it’s generally up to the financial institution to provide clear and complete transaction data. If they don’t send it as a split, Quicken can only record the information it receives.

You handled it correctly by entering the stock split manually. This is often the recommended approach in situations like this. If you’ve seen splits download correctly from Merrill in the past, it may simply depend on how that specific fund or event was reported.

jdparker225

@Quicken Laura @gulf83

Not sure what to make of the title of this "…Merrill Edge (Lynch)". Is it a Merrill Lynch account or not?

Assumming it is a Merrrill Lynch account…

This is a partial screen shot from the ML website of the last stock split I had in my Merrill Lynch account:

I, too, had to manually enter the StkSplit transaction.

This is a problem and a fix is possible. Perhaps the problem is that Quicken does not know how to handle what ML does send or ML is not sending what Quicken expects. Quicken needs to get with ML and work it out. There is no crying in baseball and there is no "depending on how…" in Quicken😉

Jim