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Two Fidelity 401k accounts in one Quicken file

asdf7890

Years ago (maybe 10 or more), I tried to connect both my Fidelity 401k and my wife's with Quicken for updating, but the transactions and holdings from one account ended up in the other account in Quicken. I talked to someone at Fidelity and/or Quicken at the time and was told this was a problem in their system(s). Thinking this might be fixed by now. Curious to know if anyone has been able to connect two family member Fidelity 401ks with Quicken currently before I try it again. Thanks.

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Boatnmaniac

My wife has 2 Fidelity accounts, I have 3 Fidelity accounts and we share 1 Fidelity account. All these accounts are set up in one Quicken data file.

My 3 accounts and the shared account were set up with my Fidelity login. My wife's 2 accounts were set up with her Fidelity login. It has worked great doing it this way for the last 7 years...no transactions mix ups have ever occurred. If you do have problems downloading both your wife's and your accounts under just your Fidelity login or you simply have concerns about doing it that way, you might want to try doing it like I did.

My Fidelity adviser told me I could set up all the accounts with just my Fidelity login alone since I have POA authority for my wife's accounts but I don't see the need to change something that has been working great.

Jim_Harman

Are these Fidelity Netbenefits accounts? There is still an issue where these share the same account number.

asdf7890

Jim: Thanks. They are Netbenefits accounts from the same employer, with individual account numbers for each employee. Will that work or is that still a problem?

Boatnmaniac: Thanks. Sounds promising.

NotACPA

@asdf7890 Yep, that's still an issue when the 2 401k accounts are with the same employer.

That's because, legally, your employer owns the accounts ... and you and your wife are the Beneficiaries of those accounts. Check, on your statements, the legal names of each account.

The only thing that you can do is to set up one account for download, download from Fido into that 1 account, disconnect that account from download, activate the other account for download and then download into it.

This appears to be a Fido quirk, that only Fido can fix.

asdf7890

Thanks, NotACPA. That not only a quirk, but a long running one.

Briewells

@asdf7890 I had the same issue… two Fidelity accounts from previous employer, one account was mine, one my husband’s. I was able to connect both accounts by editing the account details of the first account by changing the account name to something other than default name which included the account number. So for example, I removed account numbers and added my initials. When I then added the second account, it went through since the default name was no longer already being used.

bobbik

It is definitely not a quirk only Fidelity can fix. It is a software error that only Quicken can fix. I have the same problem with my and my spouse's 401k being combined into one account when downloading in Quicken. However, I have those same accounts, with the same login info, downloading into another personal financial tracking program and that program handles these accounts just fine.

It is a Quicken problem.