See next - Fidelity Account Balance Incorrect

wdh

I have a Fidelity brokerage account with transactions dating back to 1995. All positions were closed in 1995 and funds moved to a money market account. In Nov. of last year I opened a managed account (also with Fidelity) which is made up of mutual funds, many of which were in the old account. The new account is out of balance for which there is no obvious reason. It seems the new account is picking up transactions or balances from the old account. I don't need any of the old history. Is it possible and of any value to delete the old data that could be interfering with the new account balance, delete the new account, re-create the account and then do a one-step update?

NotACPA

You say that "all positions were closed in 1995" but what, if anything, was recorded in Q at that time? Has the account, In Q, shown a value of $0 from then until you opened the managed acct?

And, since this new account is so different from the prior account, I'd be inclined to take a backup, just in case, CLOSE the old account in Q (but note, this action is irreversible, but the account CAN still be used for reporting), OPEN a new Q account for the managed activity.

You can then move any transactions that were downloaded into the old account into the new account and enable the new account for download … although after the 1st download you'll need to look for any duplicated downloads … so it's best to mark all of the moved transactions as "RECONCILED", so that the dupes will be easy to spot.