This question is for others who connect with Vanguard.....

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denmarfl
denmarfl Member ✭✭✭✭
in Investing (Windows)
In Late October Vanguard converted Mutual Funds to a Broker Mutual Fund Platform. When the conversion took place, Quicker users saw all Mutual Funds deducted from their Registers and, New Purchasers for those same Amt, same funds purchased. These Transaction did not financially change User Investments except for entering many Transactions in the Vanguard Register. if Like me, you saw several Individual Funds Sold and re-Purchasered entries.

What this conversion did do is, HOLDINGS were started as brand new from the Date of the Conversion...so things like Costs Basis was no longer correct. Not a Big deal at all on an IRA...as Cost Basis is not a Tax factor when the Investment is sold. But none the Less, the Investments lost the Correct and up to date Cost basis Dollar amounts. Speaking with Vanguard they initially seemed unaware that this took place...and as always...not our fault, its Quickens. Oh well long time Quicken users, how many times have we heard this from Financial Institutions knowing what Financial information we get when we connect is a Mirror of what is at the Financial Institution. Quicken is simply a conduit between Users and the Financial Institution, and as I always say to FI, Quicken does not create the Monitary figures, it comes from you....

The second issue with the Conversion, and the the major reason for Posting, and I whould really like to heard from other Vanguard users that are connecting deals with the HOLDINGS WINDOW. My Converted Vanguard Register display the right information in the wrong columns. Under COST BASIS....what displays is the dollar Amt the Investment has Increased. In the Dollar GAIN/LOSS Column it displays the Cost basis amt (again based on from the Date of the Conversion)....

I have spoken to VanGuard and unlike what I have ever expereinced from them in the Past, I have been a customer since mid 70's...they have pretty much stone walled me. In fact working with a tech person yesterday...I became so disturbed in what I was hearing from the agent, I finally ended the call. All I was hearing, not us....we did not do anything to cuase this...What! Who did, me?

Now once again, are these issues in anyway casusing my Investments to show incorrect values....No. It might be said the issues are cosmetic...the numbers are there (except for day one of the Investment for Cost basis)...they are just nit in the right Columns..... Surely ins't cosmetic for those that had Non-IRA Investments.

I have created several Test Data Files just for my Vanguard IRA acct and each connection has downloaded the Financial information exactly as I have described here.....

So again, hopefully others that connect with Vanguard will see this Post and respond letting me know I am not alone with these issues and others have the same issues in their Register Holdings.... Thank You

Comments

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited February 2020
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    Please see this discussion and post back if it does not resolve these problems.
    https://community.quicken.com/discussion/7865696/vanguard-showing-wrong-information-following-conversion-from-mutual-fund-acct-to-brokerage-acct

    Basically you should back up your data file, then delete the transactions that were downloaded from Vanguard that moved your holdings to the new account, then use the Shares Transferred Between Accounts macro transaction to move the holdings in Quicken.
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  • denmarfl
    denmarfl Member ✭✭✭✭
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    I would like to give this a try....I would do it first on the Vanguard TEST data file....

    But I am not sure I totally understand the steps to follow. Within my Vanguard I have 8 individual Funds....so however the steps to follow would be, it would be needed for 7 funds. Is there a more Detailed breakdown is steps article to follow?

    If I am anble to accpmplish this, wouldn't the next connection to VanGuard just but the figures right back since that is how it is at VanGuard?
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited February 2020
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    Using the "Shares Transferred Between Accounts" wizard is by far the best way of dealing with this situation.  The result should be one "Remove" action in the "from" Account and as many "Added" actions in the "to" Account as you have lots of that security.
    It's not clear if you have 8 funds within one Quicken Account or 8 different Accounts each with one fund, but the process is largely the same in either case.
    If it's 8 funds within one Quicken Account then you can transfer all the securities at the same time:

    If it's 8 different Accounts with one fund each then you'd simply open each Account in turn, call up the "Shares Transferred Between Accounts" wizard, and transfer the one fund in that Account.
  • denmarfl
    denmarfl Member ✭✭✭✭
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    It is One register with 8 individual Mutual Funds.....

    Not sure I understand the "REMOVE" "TO". Opening Shares Transfered between accts...I see no Rmove or to.... Sorry to be so dumb, I have never had any reason to use\try this process...so step by Step Details for this Dummy is important...Thanks

    Does this process actually create a brand new Register?
  • markus1957
    markus1957 SuperUser, Windows Beta Beta
    edited February 2020
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    I have accounts at Vanguard that will soon be required to make this transition.

    I'm curious if any who have made the transition simply deactivated their existing accounts and then after clearing the account numbers from Account Details, used Add Account to Link the old mutual fund accounts to their respective new brokerage accounts.  Why would this not be simpler than proposed above?

    Adding- For clarity I am not referring to single mutual fund accounts which are a Quicken thing, not a Vanguard thing.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
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    @Jim_Harman -- Did you realize denmarfl initiated both discussions -- this one and the one you referenced him to?

    @denmarfl -- If your chosen structure within Quicken before this change by Vanguard was to have separate Quicken accounts for each fund owned, then yes, you will need to initiate the Shares Transferred macro-transaction for each account.  For the sake of consistency and uniformity, I would likely create a brand new account for the Vanguard brokerage account and roll all the fund accounts into the new brokerage account.

    Assumptions:  
    I am talking about one Vanguard brokerage account, possibly for an IRA, that in the real world represents a consolidation of several Vanguard mutual find holdings into one brokerage-based account.  You may have other Vanguard "accounts" similarly consolidated (Roth or traditional IRAs, different owners, etc.).  This process would be adapted to each such consolidation.   

    I assume you have one current Quicken account validly and properly connected to one Vanguard Brokerage Account and, in terms of current transactions, that is operating correctly. 

    My (semi-)detailed steps would be:
    1. Backup your current data file.
    2. Create a copy of the current data file.  All following transactions and actions would be on that copy.  If problems arise, you delete this copy.  You have the original and a backup of your current data.
    3. As you progress through this list, feel free to make additional backups as necessary for your desired level of security.
    4. In the recently created Vanguard brokerage account, delete any initial transactions that populated the holdings in the account - likely either Buy Shares or Add Shares transactions.  Do not change any later transactions (ReinvDiv, distributions, other buys or sells, etc.). 
    5. In each of the applicable Vanguard mutual fund accounts, delete the 'final' Remove Shares or Sold Shares transactions.
    6. In each of the applicable Vanguard mutual fund accounts, Enter Transactions Button and select the Shares Transferred action.  Transfer All securities from that fund account to the recently created Vanguard Brokerage Account using the date of the transfer in Vanguard's records.
    7. At this point, any Quicken report, portfolio view, or similar presentation should reflect that, as of the consolidation date, the recently created account has all the same shares and cost basis information as the individual fund accounts held.  Check the state of the multiple fund vs brokerage account immediately before and after the consolidation date.
    8. If after this consolidation, there were any later sales of some of the funds, edit each of those sale transactions to make sure that the lot specification information is correct.
    9. You should also be finding that as of 'now' cost basis and lot holdings etc. are all in agreement.
    Not to demean, but your expectations of data transfer from FI (Vanguard) to Quicken to you is off-target.  Investment firms supply information to Quicken that may be less complete than they supply to you.  What I have seen is that they supply initial holdings (holdings as of some point in time when you started the account or otherwise) WITHOUT any cost basis or lot information (acquisition dates).  It is the users responsibility to get that starting point information into Quicken.  Maybe that is a carryover from the 'good-old days' when FIs did not report basis and gain information.  After that starting point in time, the FIs supply transactions and prices.  Those transactions define any changes to cost or lot, so the FI does not need to supply further cost basis info.

    That is the model that applies in this case.  Vanguard Brokerage Services had a new account.  They fed to your Quicken the initial holding but NOT the associated cost basis and lot info on those holdings.    

    I suggest you not look at Quicken as a black-box conduit between you and the FI.  Instead look at it as your tool to pry into and work on and work with the data they supply.  
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
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    @markus1957 -- Yes, some years ago, I did that deactivate / reactivate process quite effectively.  It works if your original MF account was set up with multiple funds.  If the mutual fund holdings were set up as Quicken SMF accounts, that process doesn't apply.
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
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    The "Shares Transferred Between Accounts" is a "wizard" (I said "action" above, and have gone back and corrected that) that takes the information your input - security name, number of shares (all), and the "to" Account name - and then enters all the needed Removed and Added actions for you.
  • Greg_the_Geek
    Greg_the_Geek SuperUser ✭✭✭✭✭
    edited February 2020
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    @markus1957

    I did exactly that with 4 accounts at Vanguard but I didn't clear out the account numbers after deactivating. I just logged into my Vanguard account and wrote down the new account numbers so I could link them to the correct accounts. I had to delete the downloaded transactions from Vanguard that moved the shares to the new account. No problems after that.
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  • denmarfl
    denmarfl Member ✭✭✭✭
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    Markus 1957

    As I wrote, even when I download Vanguard Broker acct in a New data File, just for Vanguard....my Holdings were messed up. So Deactivate\Re-activate will not want....
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