New Fidelity connection requirements

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rafabrega
rafabrega Member ✭✭

Today after connecting and downloading transactions I received a msg that Fidelity was changing their connection with Quicken and a new connection needed to be updated. After updating and reconnecting with Fidelity the accounts went from detailed holdings to simple holdings for all brokerages, ira's, 529s, etc. 

When I go into any of the Fidelity accounts settings and try to change them from simple to detailed reporting I get the msg below.

"Do you want to disconnect this account to use Detailed Tracking?Fidelity-Investments & Retirement does not support downloading detailed investment information. If you want to use Detailed Tracking, you must disconnect this account and manually enter your investment transactions."

Anyone have this similar issue, reasons for the change, or how to get around it?

Thanks

Answers

  • Nancy Burrows
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    I have not had that message BUT yesterday (12/12/23) when I updated my Fidelity accounts it messed up everything for several accounts. This was after I had installed the December 2023 release.

    My Fidelity balances now show negative share balances and costs, securities showing that I sold long ago, etc. I can't see specific transactions that are causing this and it has affected my accounts in prior periods that I reconciled (e.g., 11/30/23). Called support today and their only suggestion was to start a new file or restore from a back up and start with one that has valid Fidelity information. What a time waster and so frustrating! I am hoping that more users post and they go and fix whatever they broke rather than having us manually fix it.

  • SRC1954
    SRC1954 Member ✭✭✭
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    Just talked to Fidelity and they are blaming Quicken for this mess. I am about to dump both Quicken and Fidelity. It is unacceptable not to have transactions downloaded.

    Steve
    MS Money/Quicken Classic since 1991
    Quicken Simplifi since 2021

  • SRC1954
    SRC1954 Member ✭✭✭
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    I have been thinking of just going with Simplifi for a while now. I know that Quicken is working on it.

    But, I was really irritated with Fidelity because they just didn't care and there are lots other companies who can handle my IRA and Brokerage accounts, and probably will be doing so soon.

    Steve
    MS Money/Quicken Classic since 1991
    Quicken Simplifi since 2021

  • Nancy Burrows
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    I'm noticing that the investment accounts that are "old" (I've used Quicken forever too) that have a separate cash account are the ones that are messed up. I'm wondering if that is the issue - they did consider that old type of account??

  • LarryK
    LarryK Member ✭✭✭
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    Fidelity supports transaction details in their connections which means Quicken FAILS to import detailed information. So now you either have to live with all the lost transaction data or manually enter transaction data. This is a HUGE issue for me and probably many others.

  • After this week's software update Quicken just forced me to update the connection for all my Fidelity accounts and it totally messed up my brokerage accounts. This is very frustrating and may be the last straw for Quicken. I'm sick of Quicken releasing updates with bugs and telling me to "wait until they fix the bug in the next update." Any good alternatives out there?

  • mnkduda
    mnkduda Unconfirmed, Member ✭✭
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    I just updated and now, many of my other connections to my financial institutions don't work. When I click an individual account, it asks me to set it up, even though it's already set up. Then I get the "circle of death" and actually let it try to update for over an hour and still spinning. I have to hit ctrl-alt-del to open Task Manager and close Quicken Manually and try again. I've rebooted my PC between each try and still no luck.

  • SRC1954
    SRC1954 Member ✭✭✭
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    I was able to disconnect my Fidelity Brokerage and IRA account and go back to Direct (Fidelity Investments MAC) and all is restored. I did have to subtract the entries from yesterday adding and subtracting shares. Now it is working fine and has stopped asking me to update to new connection. At first, I just said Maybe Later. So wonder if they have pulled the plug on the new connection.

    In Simplifi this morning Fidelity had stopped working and with trepidation I tried the new Fidelity Investment and Retirement connection, and it works right including the transactions. So the user who thinks it might be old accounts that had cash accounts might be on to something (though I had long ago disconnected the cash accounts and gone to a simpler setup). That was back in Quicken Windows; I now use Mac.

    Steve
    MS Money/Quicken Classic since 1991
    Quicken Simplifi since 2021

  • Craig in ER
    Craig in ER Member ✭✭✭
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    I did the "required" Fidelity update today and WHAT AN AWFUL AND FRIGHTENING EXPERIENCE! Somebody better get this fixed!. The "Fidelity Investments and Retirement" connection is BROKEN. Do not use! This connection will not allow downloading individual transactions into any Fidelity account and messes up the transactions that are there. Keep using Direct Connect until Quicken figures this out. As someone who uses Fidelity Cash Management Account as my main checking account there is no way I can accept a simplified - no transaction display or downloading from Fidelity. I MUST see all transactions. I have read other posts about this problem and it is an awful experience. Fortunately I was able to re-connect my 10 Fidelity accounts using "Fidelity Investments - Mac" with Direct Connect and now my accounts are working again. Although, I am still fixing the transactions mess created from trying the "required new" connection. So, beware don't make the change. Quicken needs to get this fixed now - no known ETA for a fix statement from Quicken is not acceptable. Don't tell us to make the connection change if you know it will break our accounts!

  • Quicken Jasmine
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    Hello All,

    I truly apologize for the inconvenience that this has caused.

    Fidelity has decided to no longer support detailed transactions within their API. In order to support any type of downloaded information, Quicken has to connect with the financial institution's API.

    I hope this clarifies things.

    Thank you!

    -Quicken Jasmine

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  • Jon
    Jon SuperUser, Mac Beta Beta
    edited December 2023
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    @Quicken Jasmine Do you know if this is only affecting Quicken Connect or is Fidelity pulling the plug on Direct Connect also?

    I've been willing to put up with my Fidelity Visa being a Web Connect account but if all my Fidelity accounts have to go manual I'll be moving them elsewhere. IRAs will probably go to Vanguard, day to day banking might go to Schwab (I think they still support DC).

  • Craig in ER
    Craig in ER Member ✭✭✭
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    Jasmine,

    I don't know what you mean? Do you mean that detailed transaction downloads will not be allowed in Quicken going forward? Or, does that mean we will still be able to use the Direct Connect method with Fidelity in the future? Since I download score if not a hundred transactions a day not seeing detailed transactions is not acceptable. BTW others have noted after talking to Fidelity that Fidelity says it is Quickens fault and that Fidelity always supports downloadable transaction details.

  • ballanda
    ballanda Member
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    Fidelity is strong arming companies like Quicken into using their new API called AKOYA so they can get a cut of that money. It is evil. But that’s the world we live in. Moving my 9 accounts to Schwab this weekend.

  • rafabrega
    rafabrega Member ✭✭
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    Update:

    After digging around this community and Reddit, I think I found some suggestions from other members.

    -For the Fidelity Visa Signature account keep the connection as the 'Fidelity-Investments & Retirement' (has Fidelity spelled out in black lettering next to it) option when looking up the institution. My transactions are up to date and seem to be working.

    -For all other accounts, i.e. Brokerage, Youth Brokerage, 529, Roth/Trad IRA, I changed the connection to 'Fidelity Investment Mac' (has the green pyramid symbol next to it) as the institution to use. This seemed to allow for the option to choose the "detailed (position and transaction)' OR 'simple (position only)' option. This did bring back old transactions but also some unreviewed transactions that had the yellow pencil next to each transaction. Since it has only been a couple of days the clean-up process was not that hard, but still a pain. I had to double-check w/ only holdings and delete duplicate transactions.

    So essentially when I look at the 'connection status' menu option from the 3 dot pull-down menu on the sidebar it shows 2 Fidelity connections as stated above. I also have a Netbenefits connection, but this account and connection don't seem to have been affected by this issue.

    Hope this helps.

  • Craig in ER
    Craig in ER Member ✭✭✭
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    Yes, this is the way it was before we received the pop up messages from Quicken telling us that we needed to change connections to Fidelity (per Fidelity as they say). I too put my accounts back in order after the fiasco of the new connection. The question is if or when will Fidelity or Quicken pull the 'Fidelity Investment Mac' connection which uses Direct Connect? And, if they do will they make sure that detailed transaction downloads works properly with Quicken before it is done?

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    FYI….see the Alert that has been posted on this at …

    At least I'm assuming this Alert is regarding the reauthorizations being posted about in this thread. It's a rather cryptic Alert with very little detail regarding which "Fidelity" financial instution(s) are affected (there are 33 "Fidelity" financial institutions in QWin alone), which connection method(s) are affected, which connection method it is being changed to, etc.

    And now to find out that those accounts that have been transitioned are being switched from Complete Investing to Simple Investing with no ability to switch back to Complete Investing….and no advance notice of this? SMH.

    A key point in this Alert: If you have DC already set up, do not change it. It will continue to be supported (at least for now). It is new connections that DC will not be available for. So that can be a bit comforting for at least some of us.

    I've requested the Moderator who posted this Alert to provide clarification but so far have not received that. But I would be happy to get clarification on what is really happening here from any Quicken employee.

    Quicken Classic Premier (US) Subscription: R57.16 on Windows 11

  • CyborgOne
    CyborgOne Member ✭✭✭
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    Great reference; thanks @Boatnmaniac !

    If we have already "updated" (and I use that term, VERY loosely) our connection away from Direct Connect/Detailed Tracking, is there any way to recover? I got sick of the "Fidelity is transitioning accounts to a new connection method", so finally gave in, pursued the "Update Connection" action, and now have lost access to being able to track - or even view - details in each of these accounts. Plus, I still receive the same notice regarding a change needed to my Fidelity accounts each time I pursue an online update - even after completing the exact actions which have been requested, to update the connection.

    So, this is clearly a lose/lose situation - where functionality which was working before (direct connection method, and the ability to track details of such transactions - individual transactions & transfers, capital gains, etc. - not just "Simplified Tracking"), is no longer available, and yet the user is still inundated with unending requests to make changes to the connection method over and over again.

    Do we have any official word on when this nightmare will be resolved? Is it even possible to disconnect all Fidelity accounts entirely, so we avoid this situation for now - and hopefully, be able to correctly reconnect, once everything is addressed?

  • rafabrega
    rafabrega Member ✭✭
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    what I did was when in the sidebar, I went into the fidelity 1) account(s) settings 2) downloads tab 3) change connection 4) search fidelity 5) choose 'fidelity investment mac'. it helped to have my fidelity account open on the side to verify the accounts w/ the numbers and balances. once I reconnected quicken with fidelity I had to go back and clean up the accounts a bit. since doing this I have not received the need to update the again. Now for the Fidelity Visa I left that w/ new connection and that seems to work for now.

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    I wish I could tell you what the whole scoop is but I'm largely in the dark on this, as well. What little additional information I do have can be found in this QWin thread (click on the date to view the entire thread):

    I think you might want to do what @rafabrega said they did (see the immediately preceding post. That might be your best option, at least for now.

    Quicken Classic Premier (US) Subscription: R57.16 on Windows 11

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    All of this is most curious. I'm running Q H&B R53.26 and I downloaded from Fidelity investments at 7am this morning, 12/16/23.

    I just now compared my Fidelity Investments holdings in Q to my holdings at the Fidelity Investments website.

    They matched to the penny. So it's not apparent where the problem lies.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited December 2023
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    From what little I've been told and been able to ascertain so far, this reauthorization appears to be more of a QMac EWC—>EWC+ transition than of QWin. I run QWin, too, and have not been affected at all. Almost all of the post threads I've seen about this are QMac threads.

    But if it's happening with QMac I think it's only a matter of time before it will happen to QWin….and to DC connections.

    Quicken Classic Premier (US) Subscription: R57.16 on Windows 11

  • hungryhippo
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    Migrating from Mint, I am trying out both Quicken Classic (on Mac) and Simplifi. Both applications required me to update my Fidelity connection. Detailed transactions for my Fidelity accounts are available on Simplifi, but not on Quicken. This tells me that the problem is with the app, not because that data isn't available.

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    Detailed transactions (Complete Investing) with the new connection method in Quicken is not available…by design. The new connection method will provide only the Simple Investing dashboard….again, by design. This is something that Fidelity has required of the new connection method (after, all, implementation of the new connection method is something Fidelity has demanded of Quicken and Intuit).

    Did you try doing what was suggested in this post (from above) to restore your previous Direct Connect connection method? If so, what was the result?

    Quicken Classic Premier (US) Subscription: R57.16 on Windows 11

  • Quicken Anja
    Quicken Anja Moderator mod
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    Hello All,

    We hope the guide below will clarify and clear any confusion.

    1. If you have only Direct Connect accounts with Fidelity, you’re not impacted.
    2. If you have any Express Web Connect accounts with Fidelity, those are switching to Express Web Connect+ (which is an API connection to Fidelity’s servers).
    3. Most users with Fidelity Express Web Connect accounts are on Mac (known as "Quicken Connect" on Mac). The only Windows users impacted are using the Fidelity Rewards Credit Card.
    4. If you have a combination of Direct Connect and Express Web Connect accounts from Fidelity, you may be prompted to switch your Direct Connect accounts during the migration process; however, these Direct Connect accounts won’t change— they are appearing because the Fidelity API is sending them. If you continue through the migration process, it’ll only impact the Express Web Connect account(s) you have with Fidelity.
    5. The Fidelity Express Web Connect+ (API) connection does not send detailed transaction information, so this connection type only supports Simple Investing in Quicken Classic at this time.
    6. Direct Connect is available to users who want to use Detailed Investment tracking— but please verify this connection is set up through Fidelity (there may be a charge, or prior authorization needed to connect).

    Thank you!

    -Quicken Anja
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  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    Very helpful, @Quicken Anja. Thank you.

    Quicken Classic Premier (US) Subscription: R57.16 on Windows 11

This discussion has been closed.