zzz-Fidelity Updates
Comments
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I have two questions for you: 1) how will Quicken notify its subscribers that are dependent on a functioning Fidelity-Quicken data exchange that the problem has been resolved, and which actions to take to reverse and correct the errors in our desktop software? and 2) will Quicken credit our accounts for the interuption in service?
Thanks in advance for your guidance.
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When will Quicken fix the duplicate issue of transactions downloaded from Fidelity. The option to download from a specific date is greyed out and the only option is download "all" transactions, which is a problem. I'm getting duplicate transactions populated on my annuity and 401K accounts that date back to 2008 and 2010. Why can't I have the option to download only from a specific date which would solve the duplication problem.
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Maybe the missing transactions are related to Simple vs. Complete investment tracking. At least one of my accounts migrated to EWC+ is acting like it's Simple even though I have it set to Complete.
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Well, now that Aug 20th is (almost) over, I decided to completely deactivate all my EWC+ Fidelity connections and zero out the account details to start from scratch. Sadly, OSU still didn't bring down any data on the first try β but "Reset Account" on my Cash Management account after the OSU brought in a BoughtX (with an incorrect Near Match) and the cash transactions. That's an improvement over not bringing in security transactions at all β¦ but it's still broken. :-(
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Assuming you did this around 1am ET (regardless of your local time zone), my advice would be to avoid doing any OSUs between 11pm and 6am ET. This seems to be when a lot of financial institutions do backend processing and doing an OSU then seems to result is weird behavior.
(Keeping this on track, Fidelity on Direct Connect would sometimes treat an OSU at that time to have downloaded that days activity, but it never actually downloads. It doesn't come through the next day, either, so they just go "missing").
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Same thing again today. Nothing on the OSU, but "Reset Account" brings in the transactions. Gimme a break, Quicken.
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Noticed a small change today: previously, when I would disconnect/reset/reactivate my accounts on the Fidelity website (where it has you log in and select the accounts to make available to Quicken), I recall having to "recheck" the accounts I wanted to make available each time.
Today I went through the "reset account" flow twice (I checked the wrong account the first time) and noticed the second time that the account I checked the first time remained checked. Maybe this was part of the issue with the missing transactions - Fidelity did not persist the account selection.
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The thread for officially monitoring the status of this change indicates that as of the August 20 cutoff date, the problem is ongoing with no known fix, and the team is still working on it. I've linked to that thread below.
Given that, and the feedback above, I'm probably going to try with the new method again this weekend. Assuming that doesn't work, I'll going to restore from an old backup that still used the old connection methods.
This is very frustrating. The bug isn't the problem, it's that there is no way to revert back. This is something an experiences product owner should have considered when rolling out this feature, and the impact it would have.
To add to the frustration, I also just received an email telling me that TurboTax won't run on Windows 10, which would require me to buy a new computer to use TurboTax. Wonderful timing on that message, Intuit. How Intuit handles this update issue will impact my decision on tax software. Frustrated.
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You do realize that Intuit no longer owns Quicken right? Quicken does utilize Intuit for OSU and updating technology, but other than that, product decisions for TurboTax are made separately from Quicken.
Windows 10 will officially go End of Life with no further support from Microsoft this October. I can understand both Intuit and Quicken mandating Windows 11 after this date (and how it might be frustrating to have to consider buying a new PC that is Windows 11-capable). However, do you really want to be using software that manages your tax returns and personal finances, on what will likely become insecure relative quickly? Let's be honest, more security holes and issues will be found in Windows 10 after End of Life.
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Did anyone else using EWC+ see "Unknown" instead of "Fidelity Investments" as the Financial Institution on the details first tab, yesterday?
Barry Graham
Quicken H&B Subscription0 -
Are you sure you need a new PC to upgrade to Windows 11? When I checked system requirements the 2 shortcomings my existing PC had were that it had to support Secure Boot and TPM2. I was able to address both by modifying bios settings. You can find information on how to do that online. It didn't cost me anything but a bit of time for the upgrade.
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There is another reason to update/upgrade to Windows 11. TurboTax just announced yesterday that they will no longer support Windows 10 due to Microsoft termination of support for it.
Slightly off-topic but there is still some compatibility with TurboTax and Quicken may follow suit as well.
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Glad this worked for you, This works if your motherboard has a TPM module. But if it doesn't, and/or your CPU is not in the approved list, ir will not work.
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We are seeing Fidelity Investments in the first detail tab this morning, did not look yesterday. Also our bi-weekly 401K contribution was yesterday and today the OSU download was still missing security and share information. Same as before "contribution" and the dollar amount. Appreciate reading everyone's post and suggestions. This seems to be out of our hands until Fidelity and Quicken get this figured out.
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@Quicken Anja @Quicken Kristina
So, given that Fidelity / Quicken has been broken for almost a month now, seems like Quicken and Eric Dunn should credit all our subscriptions for the time down and extend all our current subscriptions by 1+ months depending on how long it actually takes to fix everything. Given the time everyone has spent trying to resolve all the problems and all the aggravation it has caused, it only seems fair to credit us the time when things were not actually working.How about it Eric? Want to show your customer base you really care about them and all the time they have to spend trying to use your product?
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Personally, I'd greatly prefer a sincere apology AND a list of steps that are being taken to improve product testing and quality assurance.
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Yes compensation/refund for our collective and individual experience is due. On Windows 10 Dilemma. I've successfully updated two elderly PC's to run Windows 11 (with updates since then) normally, using this tool: Find a complimenting YouTube Video and of course, have your data well backed up before you pull the trigger. One of my functioning Win 10 machines probably started with Win 7 and is about 14 years old. Only update I'd done with it quite some time ago was to an SSD for the OS. Kept data intact but of course a Clean install is an option. It bypasses Microsoft's HW checks BUT does check for some immutable barriers that might exist on your machine before leaving you to decide what to do. Give the developer a few $$ if it works for you.
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Quicken isn't broken, other than for the Fidelity transactions. I highly doubt that anyone using Quicken for Fidelity downloads is only using it for Fidelity and no other financial institutions, for which the download has been working fine. Quicken is more than just a tool for downloading Fidelity transactions. It remains an invaluable tool that works effectively; therefore, I don't believe any compensation is warranted, as it would reduce the funds available for product improvements. Instead, Quicken should learn from this and ensure that future migrations are thoroughly tested, including by Beta testers like me, who would have identified these issues, just as we do with other issues, before the product is released.
Barry Graham
Quicken H&B Subscription-1 -
Fidelity is one of the three largest mutual fund companies in the USA, and the largest among 401K management firms with 28,000 employer customers by one estimate. It's likely Fidelityβs share of market aligns closely to their share of Quicken users. Only Quicken can establish the scale of the impact, but it is not insignificant.
While it may be fair to say that the typical Quicken user has more than one Financial services firm connected, it is precisely for that reason that they use Quicken. Its core value proposition is to aggregate data across financial institutions, and to data visualizations for personal financial planning and management.Β Failure to integrate even one supported data source is a cause for concern for the affected licensed end-user.
For Quicken customers whose retirement and investment accounts are concentrated at Fidelity, the outage is material. It impedes their ability to conduct daily financial management tasks with confidence, knowing the numbers they see on Quicken screens are accurate. For Quicken customers with accounts at Fidelity, this is no longer true.
Perhaps most disturbing, the problems was detected at the end of July, it is ongoing, and there has been no indication a resolution is forthcoming. In fact, the opposite was communicated on this message board on Friday.
If I were in a leadership role at Quicken, I would remind my colleagues that a consumer trust has been broken, communications about the situation have been inadequate, and that the situation has the potential to negatively impact the brand not only among its subscribers, but among its corporate partners. An executive leader should communicate to all affected customers with a clear definition of the scope of the problem, itβs root cause, the plan and timeline to fix it, and what to expect from customer service personnel for making the necessary repairs to the subscriber's desktop software.
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Take it up with Fidelity. Despite their claims, it's they that forced this on us. I'm as affected by this as you are, I also use Quicken for banking and credit card tracking. Investments tracking is a small part of what I use Quicken for. Now I know what's going on, my Fidelity Accounts in Quicken are correct, with some manual work. If you want compensation take it up privately so this thread remains on topic.
Barry Graham
Quicken H&B Subscription-3 -
And you know this how? What evidence do you have this was brought on by Fidelity?
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It's not helpful to point fingers but I know this is the case because I've discussed it with people who make this work and who are qualified to say.
Barry Graham
Quicken H&B Subscription-2 -
And I have discussed with Fidelity. Both of us know only what we were told.
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I agree, this is the case with me too. Until we see an announcement that this has been fixed, I wouldn't expect anything different. In my case I entered the transactions manually, which is annoying I agree.
Barry Graham
Quicken H&B Subscription0 -
The Quicken staff I have spoken with are involved in the discussions and understand how this works. The support staff at Fidelity are not the ones involved in the decision. When you get to the process owner at Fidelity you will hear that it is they that made the decision to switch. Quicken has no reason to end DC. If they did, they would have ended DC support years ago when they first started rolling out migrations to EWC+.
Barry Graham
Quicken H&B Subscription0 -
I and others have heard from Fidelity that they changed nothing β my source is a supervisor in Fidelity Electronic Channel Support, who told me they conferred directly with Fidelity's engineering team responsible for OSU integration. I encourage you to do exactly the same, Barry β ask for that group and please share with us what they tell you. I personally also have been told by multiple Quicken support staff, including at the supervisor level, that this problem is a Quicken one. I have not spoken directly with Quicken engineering, sadly β although I'd love to β but my first phone support call lasted 3 (!) hours with a customer support rep relaying troubleshooting instructions with a Quicken engineer. At no point has anyone in Quicken I've spoken to put the onus on Fidelity for this issue β quite the opposite. @Quicken Kristina 's prior post in this thread has been the only Quicken communication I've seen that claims otherwise. So clearly, even with the most generous interpretation, mixed messaging is going on..
Your assertion that Quicken owes no customer compensation after this debacle, I honestly find unfathomable. I can't respond better than @NorthernExposure 's excellent post. The fact that this has continued for almost a month is just an embarrassment for Quicken β even IF Fidelity is at fault (of which I, for one, am still extremely dubious). Excepting the comments here from @Quicken Kristina and others (sorely lacking in substantive detail), there has been no real messaging coming out of Quicken. It's as inexplicable as it is unacceptable. It really shakes my trust that I can rely on this product with such terrible support.
I remain in the same state I have been since August 20th. I can only get transactions to load in my Cash Management account if I "Reset Account." (It may have also missed one cash transaction 2 days ago, but I'm not sure.) That's been mentioned so many times in this thread (and I have also said so directly to Quicken support) that surely someone in Quicken could weigh in on why that helps when a "normal" OSU comes back with nothing.
I'll end this post with a pragmatic question: does anyone know the precise series of steps that should compel EWC+ connections to re-download all transactions, say in the last 3 months, even if they are already in the register and reconciled? I would like to try that experiment β even if it means bringing in what look like "New" transactions that I have to manually reject. I had thought some incantation with DTSTART might do it β but I haven't been able to do it. When I reset an account, or more drastically deactivate and re-add it, Quicken claims to have downloaded transactions well over 1000 (!) days β and yet there is nothing.
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"I and others have heard from Fidelity that they changed nothing"
Nonetheless, that is not true. The decision to discontinue using the Direct Connect (DC) technology (which is owned by Intuit) is a decision made by Fidelity, most likely for financial reasons.
Many other FI (such Schwab, Merrill, etc) have made the same decision to do this in recent years, and the trend is continuing. This includes banks as well as investment firms. I once had several accounts using DC, and now I will be down to just T Rowe Price once the Fidelity transition is compete. These transitions away from DC have occurred ONE AT A TIME, over the last few years, as each FI makes this decision to discontinue using DC.
Quicken still supports DC. It is the financial institutions who are choosing to discontinue using it, and therefore will no longer have to pay Inuit to be able to use it.
As far as the actual problems that this transition is causing, they will have to be worked out between Quicken and Fidelity. In the mean time, I declined when the switch away from DC was first offered to me back in July, and I am continuing to use DC for Fidelity downloads (using the zzz-Fidelity connection) for the time being - with no problems so far.
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@tompfr That's exactly right.
Also, for those Quicken users who switched over to EWC+, it is not clear how many are directly affected by the "no transaction downloading" issue. Understandably, folks posting on this and other Quicken forums, are not representative of the Quicken user group. From the beginning, for us EWC+ One Step Update downloaded all our transactions, correctly for both Brokerage and IRA accounts with the single exception of previously reported shares rounding issues for ReinvDiv and Buy/Sell transactions, while Fidelity Netbenefits 401(k)/403(b) transactions are still being imported as "Contributions" (Simple instead of Complete transactions). This certainly is pretty inconvenient, as it requires manual correction of these Fidelity transactions, yet for all these Quicken users it is not the end of the world, as One Step Updates under EWC+ are always complete for all accounts:
Matters, of course, are far more serious for those Quicken users who receive no/incomplete updates under EWC+ and (as has been reported here as well) Direct Connect.
All the remaining issues will have to be worked out between Quicken and Fidelity, as has been successfully the case for each and every DC β EWC+ migration in the recent past. This will take quite some time, folks!
Best of luck and success to everyone!
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Please cite your evidence that Fidelity is responsible for this mess β when I and others have been told the exact opposite by knowledgable insiders at BOTH Fidelity AND Quicken.
But ultimately, it just doesn't matter β even in the kindest of lights to Quicken where one accepts Fidelity ripped the rug out from underneath them without warning and then has proceeded to lie about it to their customers (honestly, that's essentially what you're accusing them of) β Quicken's lack of substantive messaging with firm timelines has simply been unacceptable.
And I think this thread and others is sufficient evidence that plenty of users are impacted β I think the assertion that the many users who have posted here about this indicate that they ARE representative. Saying that we are not is just dismissive of the issue. Again, Quicken could certainly shed light there as well.
I wonder how many users such as myself are faced with open tickets and insanely long phone conversations with Quicken that never go anywhere. I have found their support over the many years sorely lacking. Quite frankly, I put my stock (pun intended) with Fidelity over Quicken any day β because they are responsive, informative, and knowledgable. Quicken support has been rife with quality nonsense like this for literally decades (I could cite a litany of bugs that have never been fixed despite years of reporting them). If they weren't the only game in town and the migration of years of legacy data weren't a complete nightmare, I would have dumped the software over these issues long ago. Their subscription pricing in light of stuff like this is frankly egregious.
Yes, this post was a rant β sorry not sorry. But the apologists for Quicken are just making the situation even more frustrating.
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Hi,
In case anyone cares, I restored from a backup created in June and now my Fidelity accounts, about 25 accounts across three logins, are using direct connect (or whatever existed before EWC+). Everything is downloading correctly from Fidelity, so it seems that the dc feed is still working. I'm going to sit tight until there's clarity from the community that the EWC+ feed works before trying to update it again. I don't know where this stands on the "Quicken or Fidelity's fault", but the fact that the old process still works is helpful for those that just want things to work.
I did notice that one of my bank accounts using EWC+ seems to have stopped getting updates, though other accounts at that bank using that same login are in-sync. I'm going to watch this closely, am hoping it's a glitch.
I've seen others say they want to manually update, and that's probably fine if you have a few accounts. But if you have a lot of accounts, it gets harder to manage. For me, restoring from backup was worth the effort and relief. Market has been doing a lot in the past few weeks, I find it helpful to see an up-to-date consolidated view in Quicken.
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