Moving my four Vanguard accounts to Fidelity

Gary R · March 6

I'm not sure how Quicken is going to handle this. I'm in the process of moving all my Vanguard accounts to Fidelity.

Should I simply enter "shares transferred between accounts " for each security when the transaction is completed?

Tom Young · March 6

Everything else being equal, that is the fastest and easiest way if you want to retain the distinction between "when I was at Vanguard" vs. "when I was at Fidelity."

If that distinction isn't all that important to you then simply changing the Account Number and Financial Institution boxes and re-connecting to Fidelity typically should be fine.

Wait and see if there are any "hinks" in the changeover between institutions; in some instances only whole shares get transferred or the receiving institution doesn't support a particular security (this can happen with mutual funds) and then determine what entries you need to make and/or downloads to delete.

Gary R · March 6

I want to make sure all cost basis is transferred over to Fidelity for each security.

The accounts from Vanguard are all going into established Fidelity Accounts, brokerage, Roth, and Traditional.

I think shares transferred between accounts will be the way to go

Tom Young · March 6

"I want to make sure all cost basis is transferred over to Fidelity for each security."

Either approach should work. Ignoring any hinks in the process, the Shares Transferred Between Accounts action will leave the transactions themselves behind in the old Account, but all that detail is easily available, and bases in the new Account will be correct. Changing the institution holding the Account will keep all that detail in the same Account with a new FI name.

Gary R · March 6

Ignoring any hinks

Not familiar with that word

Tom Young · March 6

Maybe "kinks?" = quirk

Gary R · March 6

lol——That makes more sense

Thanks for replying

BTW—-I'm closing out Vanguard because they can't seem to get their act together. It's three weeks now and no one can download their transactions from Quicken. Lots of complaints and comments on the forum here.

Tom Young · March 6

Unfortunately, Fidelity problems also seem to be way to frequent in here, mainly having to do with how Fidelity handles things internally and vs. how you see that in Quicken. Do a search for "Fidelity" in here and you'll get lots of hits.

I think the industry's move away from the Direct Connect method probably has a lot to do with so many "investment" type issues. Personally, most of my Quicken Accounts are at Schwab and, generally, I have few complaints, but more now then when they too used Direct Connect.

Good Luck! (And no, I don't own and Schwab stock 😁.

Gary R · March 6

Thanks

Take Care

Gary R · March 6

I've had no issues with Fidelity in years. I also tried going to Vanguard's site to download my transactions for current time periods. It always comes back—No new transactions—-even though several should be shown.

Also—Fidelity web site shows daily gains/losses and % for your account

Vanguard lacks this feature. In order to determine previous days change, you have to do the arithmetic going to balance windows on your PC.

Gary R · March 7

I think there may be a better way to handle this.

This morning I logged on Vanguard and downloaded transactions for the past 3 days for one account. Quicken icon was blinking on bottom window of my PC. I opened it, and gave me the option to import the transactions and select the account to import into. I'm going to select the Fidelity Account. I think this will be the way to go

Chris_QPW · March 7

It should be noted that Vanguard is in the process of going to Express Web Connect + (I'm not sure if they are also keeping Direct Connect) and as such there are reports of problem with the downloading (at least from what I have seen in a thread on the Quicken Mac side).

On the subject of how to transfer an account from one financial institution to another, I would recommend @Tom Young first suggestion.

If you use the transfer shares, what it does is remove the shares from the old account, and then does an add shares to the new one with the cost basis filled in. That is all well and good for that tax ramification, but any of the "Return numbers" that are calculated in Quicken (not just downloaded) depend on the transactions in the given register. And as such are lost if you use the move shares action.

Gary R · March 8

The account transfers were completed yesterday, and this morning I logged on to Vanguard, downloaded each account "transferring shares between accounts" and now Year to Date returns in my register are off.

I checked the cost basis transferred to Fidelity for every security and all were correct.

YTD returns were accurate up until March 6, 2025. I have no clue how to fix this

Jim_Harman · March 8

Quicken has several performance measure that contain "Return". As usual, @Gary R, we need to know where you are seeing this issue and if it is a Portfolio view, the exact name of the affected column.

Since you have moved the securities between accounts, you need to include both the old and new accounts in the analysis.

Gary R · March 8

Year To Date Is off

Jim_Harman · March 8

OK, is it off for just the securities you moved to Fidelity, or for all your securities? Which securities were moved?

Are the YTD Returns correct if you set the As of date to just before the securities were moved?

Are both the Vanguard and Fidelity accounts included under Customize?

Also Gary, Please review this discussion from 2021, when you asked basically the same question.

Shares transferred between accounts

Gary R

Oct 22, 2021

Back in January I posted a question about shares transferred between accounts.
I had four Vanguard accounts being transferred to Fidelity for Professional Management.
I received many replies how to handle the transaction and it was generally agreed to just do my normal portfolio update and Vanguard would show shares removed and Fidelity would show Shares added.
I'm just throwing this out since I believe there is a better way to handle this in the future.
If I had to do this again, I would have gone to each Vanguard account and move all the securities to the new account number in Fidelity. Then, I would have simply deleted the Vanguard accounts since they will have no entries.
I tried this yesterday with another account and it worked perfectly.
Bottom Line--Instead of using shares transferred between accounts, it was much better just to move all securities to the new account, and delete the old one.

Gary R · March 8

Just the securities moved to Fidelity

The YTD Returns are correct as of March 6, the day before the download from Vanguard

Both accounts are included under Customize

Also——Total Gains are correct as of 3/8/2025——Just YTD returns are off

Gary R · March 8

I'm leaving for a few hours and will check back when return.

Thanks

Gary R · March 9

I found the problem security and have no way to fix it. My YTD returns are not correct, but total gains are accurate.

SCHD YTD returns were correct the day before the transfer of shares.

Now, on 3/6/2025, SCHD YTD returns are wrong. I spent endless hours troubleshooting this issue with no success. SCHD paid no dividends this year. Therefore the YTD returns should be the difference between the current market value on March 9 and January 1, 2025. It's off over $1100.

Gary R · March 9

3/5/2025 SCHD Market Value—-$39,803 Return YTD $1036

3/6/2025 SCHD Market Value——39,831 Return YTD $2211

This one has me really stumped.

Jim_Harman · March 9

SCHD split 3:1 on 10/10/24. How is that recorded in Quicken? There should be a StkSplit and no Added, Removed, or Placeholder transactions.

Gary R · March 9

New shares are total after the split

215 shares were before the split

Gary R · March 9

This is the other account

Gary R · March 9

"

" There should be a StkSplit and no Added, Removed, or Placeholder transactions."

VERY CONFUSED!!!!!

I have to remove the 774 shares from Vanguard on 3/6/25 and add them to Fidelity since the Vanguard accounts are closed

Jim_Harman · March 9

Brokerages often download incorrect transactions to handle splits. The total shares may end up correct but other measures will be wrong. For example, the Added transaction may have a zero cost basis.

What transactions are in your Vanguard register for the split?

Gary R · March 9

It's just SCHD for both accounts

Gary R · March 9

The shares are correct——

Gary R · March 9

I've gone over this a hundred times. Honestly, this kept me up all night.

Jim_Harman · March 9

If you want help, please answer my question. Do you have a StkSplit for SCHD in the Vanguard account or not?

Gary R · March 9

YES——For both accounts

See the two screenshots above——Enter transaction—-STOCK SPLIT ENTERED FOR EACH ACCOUNT

Gary R · March 9

There are two accounts above in the screenshot

Fidelity Rollover

Vanguard Brokerage

Moving my four Vanguard accounts to Fidelity

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Shares transferred between accounts

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