Fidelity NetBenefits transaction download is all "Unidentified Security" (edit)

124

Answers

  • custodian
    custodian Quicken Windows Other Member

    Thank you!

  • wilsonvr
    wilsonvr Quicken Windows Subscription Member ✭✭
    edited October 2023

    @glenn.hout, thank you for your hard work. Could you please provide me with Abby Johnson’s contact information? I would like to contact her as well.

  • djmatsolo
    djmatsolo Quicken Windows 2017 Member ✭✭

    I allocate about 2 hours every Saturday morning trying to fix problems with Quicken. So many freaking bugs and do not get me started on Fidelity Netbenefits issues. I need to just find a different application.

  • chagler
    chagler Quicken Windows Subscription Member

    Mid-October - any new updates?

    I track a majority of my finances in my 401k, and Quicken has not been useful in doing this since July 24th for me.

    Can we get a weekly update on progress being made?

    Thanks…

  • saryon
    saryon Quicken Mac Subscription Member ✭✭

    I have the same issue. My Fidelity Netbenefit tracking is a mess. It was correct until sometime this summer, but a similar issue had occurred a year or so ago - suddenly all the investments have a "2" at the end, some disappear from my portfolio, and my account portfolio only shows a couple securities. The transaction history is all there, but the names of the securities keep changing.

  • Nelson623
    Nelson623 Quicken Mac Subscription Member ✭✭

    Not sure if it's related but feel that it likely is. I am having the same issue reported below where only one of my two securities is being pulled in from Fidelity 401k.

    Fidelity NetBenefits (Q Mac)

    Appreciate your persistence and hopefully we can get this issue resolved as well.

  • Joesc
    Joesc Quicken Windows Subscription Member ✭✭

    This is happening to me too and I'm tired of manually updating the downloads. It's especially amusing since Quicken is calling out their special relationship with Fidelity on the Quicken loading screen.

  • anneclark
    anneclark Quicken Windows Subscription Member ✭✭

    Thanks for the update, BarryMo! I pulled up my Quicken yesterday and realized I hadn't opened it for a month. And sure enough immediate face planted into the complete mess this situation makes of my investments once I let a download occur. I backed things out and have cut my online connection to Fidelity but this is ridiculous. It's obviously a problem on the Fidelity end because of the complete switch out of security IDs. I can see where they changed in July without any rationale for the shift.

  • Nelson623
    Nelson623 Quicken Mac Subscription Member ✭✭
    edited October 2023

    Yes, I will email. I do have to say that I am disappointed in Fidelity. I used to find them to be a professional company that was committed to quality control. They valued accuracy, paid attention to detail, resolved issues quickly and were committed to being 'best-in-class'. Sadly, seems the sign of the times. People, in general, are slipping and standards are lowering because everyone is in such a hurry.

    Thank you BarryMo and Garry Hout for your diligence.

  • RMMR
    RMMR Quicken Windows Subscription Member ✭✭

    I emailed also. I am disappointed with ongoing issues, but when companies have to concentrate on ESG and other political issue, they do not have time for quality business practices and loyal customers.

  • S_P
    S_P Quicken Windows Subscription Member ✭✭

    Thank You glenn_hout for taking initiative to solve the issue for all of us.. I shared in this same channel on Sep 5 what is broken from Fidelity. Bottomline is that Fidelity has started to send true CUSIP in new transactions only but kept Fund ID in investment portfolio details causing mismatch.

    Thank You again.

  • Pong Ching
    Pong Ching Quicken Windows Subscription Member ✭✭

    Can Quicken product team explain how the security matching works? Apparently it's not based on the ticket symbol. Maybe there is a workaround before the product team provides the fix.

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited October 2023

    Quote data for indexes and publicly traded securities (but not bonds) comes from Quicken's quote provider and uses the security's ticker symbol.

    Transaction data comes from the brokerage where you hold the securities and uses the CUSIP ID to match to the security in Quicken.

    When you add a new security manually, Quicken does not have the CUSIP ID and the Matched to online security box on the Security Detail view is un-checked. Each downloaded transaction includes the CUSIP ID and if Quicken does not have a matching security, a dialog is displayed with a guess for the correct security and asking you to confirm that match, select the correct matching security, or add the new security. Once you confirm, select, or add the security, the CUSIP ID is recorded for that security, and the Matched to online security box is checked.

    If you make the wrong selection here, this and future transactions will be recorded for the wrong security.

    The transaction downloads also include the total number of shares held and the most recent price for each security, also using the CUSIP ID.

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  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭
    edited October 2023

    EDITED changed "code" sections to images to avoid this forum's formatting.

    Based on what was reported here:

    And this:

    I thought it might be interesting if not that helpful to add a bit more to the technical details.

    Here is a transaction from a QFX file, you can get the same kind of information from Quicken's OFX log file after doing a download from Fidelity:

    Now farther down there is sort the "summary" section and in that section is the security list. I have put a part of it below:

    This is how Quicken connects the security in the transaction to the CUSIP that will be used for matching in the rest of Quicken.

    Clearly if the two different sections don't line up then there is no way for Quicken to properly identify what security is used in the transaction.

    Note that this "Summary section" not being handle correctly is also the cause of the doubling of the cash balance in Quicken when using Fidelity/401K/Simple investment mode (many threads on this since the Simple investment mode was introduce in Quicken).

    It really seems like the Fidelity people handling the 401K backend should talk to the Fidelity brokerage backend people, because as you can see none of this is a problem in the non-401K accounts.

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  • wilsonvr
    wilsonvr Quicken Windows Subscription Member ✭✭

    Glen, thank you once again for your efforts. I will also send an email to Abby. However, I have a simple question for Quicken support and Eric Dunn, the CEO of Quicken. As a paying customer of Quicken, I expect that the initiative Glen spearheaded should have been taken by Quicken support instead. Is there a way we can send an email to Eric Dunn as well? I believe he should be aware that his company is failing to support its customers.

    Best Regards

    Virgil Wilson

  • BarryMo
    BarryMo Quicken Windows Subscription Member ✭✭✭

    In many 401Ks, there are offerings that are not publicly traded and do not have a ticker symbol. They still have a CUSIP ID though.

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭

    @BarryMo

    It is the same process I described above and @Chris_QPW elaborated on. When you download a transaction for any security, publicly traded or not, Quicken looks at the UNIQUEID field (usually the CUSIP ID) to see if it has a matching security. If so, it applies the data to that security. If not, it asks you what to do as I described above.

    The ticker symbol is used by Quicken's quote provider to update the quote data.

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  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭
    edited October 2023

    Here is some more information that hopefully will clear up a bit of the confusion. First off, nowhere in the QFX/downloaded data is the ticker included. It isn't considered a reliable unique Id because different securities can in fact have the same ticker.

    On the other hand, Quicken's third-party service only works off of the ticker, not the CUSIP ID. (side note just so people know, the QIF format always uses the ticker).

    So, it seems like you have an impossible barrier here for getting the security prices. But that barrier is resolved using what was explained above and knowing all the possible ways that Quicken can get a security price.

    The first is manual input either directly into the security price or in a manually entered transaction.

    The next way Quicken gets a price is from the third-party quote service where you have told (or it looked up) the ticker and is stored in that security information on Quicken.

    So, for this one, on the first download of a security, Quicken asks you to match the CUSIP ID to a security it knows about, which links it to a ticker.

    The last way Quicken gets a price is in the downloaded data from the financial institution.

    If you look at the second screenshot of the security list you will see that it includes the UNITPRICE, that is the security's price.

    The only part that remains is what to do when it gets prices for different sources. Quicken gives each a different priority to try to make sure that the most current one is used. In the case of the private securities in a 401K you basically only get the prices from the UNITPRICE in the downloaded data.

    I hope all of this makes it very clear that with investment data especially, it isn't just the individual transactions that matter there is a lot of extra data that all has to be consistent. "Complete investing mode" uses certain parts of this data, and "Simple investing mode" uses other parts.

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  • davem37
    davem37 Quicken Windows Subscription Member

    I've been dealing with this for 2 months …………. I wonder why it only affects SOME but NOT ALL Fidelity NetBenefits 401/403 users ? Perhaps a phased cut-over of some sort within Fidelity ?

  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭

    I would say that might be a good guess. For things like this to support customers all over the country they have to have many servers and the changes could be pushed out over time. Just recently Chase broke the Web Connect/QFX file (missing/incorrect information in it), it still worked for me a week after the first people started reporting it, but then finally was broke for me too.

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  • RMerchant
    RMerchant Quicken Windows Subscription Member ✭✭

    I received a call from Fidelity stating they hope to release a fix on November 2nd.

    I am not sure if anyone else has had any similar conversations.

    I also asked what type of testing did they do to ensure the fix will address the issue. The individual was not able to directly answer. I also asked how should we handle any downloaded transactions but not edited or deleted or accepted ? The individual was not able to say exactly how all the incorrect transactions would be rectified. Hopefully more to come … but if anyone has any additional info it would be great to share.

  • RMerchant
    RMerchant Quicken Windows Subscription Member ✭✭

    Glenn

    President Bush landed on an aircraft carrier in May 2003 after invasion of Iraq with a sign saying mission accomplished. I wont believe it untill a fix is in place . I would keep pressing the teams for a release date .

    Thanks

  • BarryMo
    BarryMo Quicken Windows Subscription Member ✭✭✭

    This is now working for me! Thanks to all who called Fidelity. My calls were met with denials so I am pleased that we persevered!

  • RMerchant
    RMerchant Quicken Windows Subscription Member ✭✭

    Barry

    Is it just downloading new transactions and matching correctly.

    What about downloaded transaction that were not accepted . Is it replacing those or did you manually match previous downloaded tranactions

  • joegz9101
    joegz9101 Quicken Windows Subscription Member ✭✭

    Based on my test of live data it would seem it is not correcting past downloaded transactions. It will still need to be manually corrected. Unless someone has an ingenious hack on how to get Quicken to download history and have Quicken treated like new download transactions.

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