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What brokerages work well with Quicken?

DrGForce
DrGForce Member ✭✭
edited August 2018 in Investing (Windows)
Thanks to this post from RickO, I recently became aware that many brokerages do not transmit brokerage transactions correctly to Quicken through their direct connect system. This results in incorrect balances and having to do frequent manual corrections to fix cash balances, sweep account balances, etc.

My question is: Which brokerages work well with Quicken?

By work well, I mean which brokerages' direct connect system correctly passes the transactions to Quicken so that balances are always accurate and don't require manual user intervention to keep them accurate?  

I'm specifically interested in users' experiences with Vanguard, Fidelity, and Schwab, but would also be interested in experiences with other brokerages' direct connect systems as well. Thanks! 

Comments

  • RickO
    RickO SuperUser, Mac Beta Beta
    edited January 2018
    I have had very good success with Fidelity. I have found an occasional but rare transaction that didn't download, maybe one a year. I attribute that to some kind of transmission glitch. And given that I download an average of almost 200 transactions a month from six Fidelity accounts, I don't think it's a big issue.

    One thing I will note: when dividends are reinvested, Fidelity sends separate DIV and BUY transactions. I think some brokerages can send a single REINVEST DIV transaction, cutting down on the number of lines in the register. But Fidelity's DIV/BUY pairs are accurate and have all the needed info, so it doesn't really bother me.

    Fidelity also has very good tech support on the rare occasions when I've needed their help.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited May 2018
    I have used both Schwab and TD Ameritrade.  Schwab is really good wrt downloading accurate transactions.  TD Ameritrade is not.
  • Greg_the_Geek
    Greg_the_Geek SuperUser, Windows Beta ✭✭✭✭✭
    edited January 2018
    I use Vanguard and have no problems downloading transactions.
    Quicken Subscription HBRP - Windows 10
  • Unknown
    Unknown Member
    edited May 2018
    In addition to Fidelity and Schwab I have had good luck with Morgan Stanley.
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited May 2018
    Adding an editorial to this thread.  The reliability of the data downloaded from the brokers is related to the complexity of your transactions.  On the simple end if you just buy/sell a common US listed stock or mutual fund and you don't keep cash in a separate account you'll like see very little difference in the brokers downloads.  But as your complexity of transactions increases (dividends, reinvested dividends, less common securities, sweeping cash to money market securities, shorting positions, buy options to open, selling options to open, expiration/assignment of options, complex securities such as futures, forex, etc.) you will see the differences between the reliability of the data downloaded increase significantly.

    Pretty much any of these can do the simple transactions.  The differences will be seen if you have more complex transactions.
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited August 2018
    I recommend that users posting here ID whether they use QWin vs QMac as the experience may be different (since they OP posted under both platforms).

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
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    (Canadian user since '92, STILL using QM2007)
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited January 2018

    Adding an editorial to this thread.  The reliability of the data downloaded from the brokers is related to the complexity of your transactions.  On the simple end if you just buy/sell a common US listed stock or mutual fund and you don't keep cash in a separate account you'll like see very little difference in the brokers downloads.  But as your complexity of transactions increases (dividends, reinvested dividends, less common securities, sweeping cash to money market securities, shorting positions, buy options to open, selling options to open, expiration/assignment of options, complex securities such as futures, forex, etc.) you will see the differences between the reliability of the data downloaded increase significantly.

    Pretty much any of these can do the simple transactions.  The differences will be seen if you have more complex transactions.

    Some don't even really handle the simple transactions well. For example, TIAA only sends the Buy transaction when money is deposited to buy funds. The user has to manually enter the Deposit transaction to keep the cash balance from going incorrectly negative.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited January 2018
    RickO said:

    I have had very good success with Fidelity. I have found an occasional but rare transaction that didn't download, maybe one a year. I attribute that to some kind of transmission glitch. And given that I download an average of almost 200 transactions a month from six Fidelity accounts, I don't think it's a big issue.

    One thing I will note: when dividends are reinvested, Fidelity sends separate DIV and BUY transactions. I think some brokerages can send a single REINVEST DIV transaction, cutting down on the number of lines in the register. But Fidelity's DIV/BUY pairs are accurate and have all the needed info, so it doesn't really bother me.

    Fidelity also has very good tech support on the rare occasions when I've needed their help.

    The above is for QMac.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited January 2018

    Adding an editorial to this thread.  The reliability of the data downloaded from the brokers is related to the complexity of your transactions.  On the simple end if you just buy/sell a common US listed stock or mutual fund and you don't keep cash in a separate account you'll like see very little difference in the brokers downloads.  But as your complexity of transactions increases (dividends, reinvested dividends, less common securities, sweeping cash to money market securities, shorting positions, buy options to open, selling options to open, expiration/assignment of options, complex securities such as futures, forex, etc.) you will see the differences between the reliability of the data downloaded increase significantly.

    Pretty much any of these can do the simple transactions.  The differences will be seen if you have more complex transactions.

    For stock purchases, dividend reinvestments, and cash sweeps, I have found Ameritrade to be very reliable and accurate. 6 accounts downloading since 1999.


    QWin.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited January 2018

    Adding an editorial to this thread.  The reliability of the data downloaded from the brokers is related to the complexity of your transactions.  On the simple end if you just buy/sell a common US listed stock or mutual fund and you don't keep cash in a separate account you'll like see very little difference in the brokers downloads.  But as your complexity of transactions increases (dividends, reinvested dividends, less common securities, sweeping cash to money market securities, shorting positions, buy options to open, selling options to open, expiration/assignment of options, complex securities such as futures, forex, etc.) you will see the differences between the reliability of the data downloaded increase significantly.

    Pretty much any of these can do the simple transactions.  The differences will be seen if you have more complex transactions.

    Re: TD Ameritrade and mshiggins' comment I concur re: those transactions.  If you're getting into options trading or futures/futures options I can attest there are many problems with TDA transaction downloads.
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited January 2018

    Adding an editorial to this thread.  The reliability of the data downloaded from the brokers is related to the complexity of your transactions.  On the simple end if you just buy/sell a common US listed stock or mutual fund and you don't keep cash in a separate account you'll like see very little difference in the brokers downloads.  But as your complexity of transactions increases (dividends, reinvested dividends, less common securities, sweeping cash to money market securities, shorting positions, buy options to open, selling options to open, expiration/assignment of options, complex securities such as futures, forex, etc.) you will see the differences between the reliability of the data downloaded increase significantly.

    Pretty much any of these can do the simple transactions.  The differences will be seen if you have more complex transactions.

    So the question is not which brokerages are good with Quicken, it's which brokerages are good with the type of trading activity I do.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • DrGForce
    DrGForce Member ✭✭
    edited January 2018

    I have used both Schwab and TD Ameritrade.  Schwab is really good wrt downloading accurate transactions.  TD Ameritrade is not.

    Thanks for posting your experience. Does your Schwab experience pertain to Quicken for Windows or Quicken Mac? -- NORMAL --
  • DrGForce
    DrGForce Member ✭✭
    edited January 2018
    BobE said:

    In addition to Fidelity and Schwab I have had good luck with Morgan Stanley.

    Thanks. Are you using Quicken Windows or Quicken Mac? -- NORMAL --
  • DrGForce
    DrGForce Member ✭✭
    edited January 2018

    Adding an editorial to this thread.  The reliability of the data downloaded from the brokers is related to the complexity of your transactions.  On the simple end if you just buy/sell a common US listed stock or mutual fund and you don't keep cash in a separate account you'll like see very little difference in the brokers downloads.  But as your complexity of transactions increases (dividends, reinvested dividends, less common securities, sweeping cash to money market securities, shorting positions, buy options to open, selling options to open, expiration/assignment of options, complex securities such as futures, forex, etc.) you will see the differences between the reliability of the data downloaded increase significantly.

    Pretty much any of these can do the simple transactions.  The differences will be seen if you have more complex transactions.

    I also have issues with simple transactions from Chase self-directed accounts. For example, if I sell a stock, Chase will put the proceeds into a security called "US dollar" which essentially is a holding place until the money is put in the money market sweep account. During that time Chase will tell Quicken about the money in the 'US dollar' security, but no transactions are downloaded for this security. Placeholder transactions are created however, and I need to delete them for the balance to be correct. It's a real pain! 

    Then I have some Chase accounts download the buy/sell sweep transactions and some do not. The fact that there are inconsistencies within the same brokerage among accounts is frustrating. -- NORMAL --
  • DrGForce
    DrGForce Member ✭✭
    edited January 2018

    I recommend that users posting here ID whether they use QWin vs QMac as the experience may be different (since they OP posted under both platforms).

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    You are correct. I use Quicken Mac, but I though getting experience from both platforms would be useful. But yes, I suppose Quicken Mac and Quicken Windows could handle transactions from the same brokerage differently. -- NORMAL --
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited January 2018

    I have used both Schwab and TD Ameritrade.  Schwab is really good wrt downloading accurate transactions.  TD Ameritrade is not.

    windows
This discussion has been closed.