Fidelity NetBenefits EWC+ migration issues
hi folks,
like many others, i am experiencing issues with my Fidelity NetBenefits data download ever since the EWC+ switchover. and perhaps i am not alone in not being able to find clear information on the status of the countless different issues, and whether they are being investigated and whether the timeline for resolution is closer to weeks, months, or never.
i believe my issues may be caused by the DC and EWC+ connection types doing their bookkeeping differently, or at least in incompatible ways. i think there are two distinct (but perhaps related?) problems:
Issue 1: Duplicate Securities / Security Versioning
since the EWC+ update, i see a bunch of grayed-out "Add Shares" transactions at the bottom of my ledger. double-clicking explains that Fidelity reports a total share amount to Quicken, but Quicken is "tracking" none of them.
i think perhaps the culprit is that securities seem to have different… versions? suggesting to me that Quicken over EWC+ is somehow not recognizing that two securities reported by Fidelity at two different download times are actually the same. for example, Quicken now says i have both "SS TOT STK MKT IDX I" and "SS TOT STK MKT IDX I (TG3Y)" in almost exactly the same quantity. the TG3Y-version of the security has no entries in my transaction history; it only shows up in the grayed-out unaccounted-for transaction at the bottom of my ledger. the regular version of the security is the one that has been tracked for years, with the most recent update on 10/1. so the security identified in the transaction is not recognized as the same security that Fidelity is reporting an overall total for!
meanwhile, there is also duplication between "VANGUARD TARGET 2055 3" and "VANGUARD TARGET 2055 4". if i look at my transaction history, i can see at some point, there is pair of transactions where all my "VANGUARD TARGET 2055" was sold and an equivalent amount of "VANGUARD TARGET 2055 2" was purchased. the same is true going from "2" to "3". but there is no buy-and-sell pair for "3" and "4"! i have no idea if this versioning is a Fidelity accounting detail or an actual financial event of some kind. but it is no longer being accounted for explicitly, which may also explain the failure to match up securities in Quicken.
Issue 2: Inaccurate Interest/Dividend Accounting
under DC, i would see monthly "dividends" from one of my securities ("INVESCO STBL VAL B1", so interest as a dividend). these would have the transaction type "Reinvest Dividend" with the security identified in the "security/payee" column and the amount in "invest amt". now instead, i either see "Dividend Income" as the type with no security, or "Payment/Deposit" as the type with "dividend" as the security (lol) and the amount in the "amount" column, rather than "invest amt". i suspect this may be related to the incorrect tracking and security duplication of this particular "INVESCO STBL VAL B1" security.
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as far as i can tell, this incompatibility between the bookkeeping before and after the EWC+ forced migration is what's creating inconsistency and inaccuracy in my NetBenefits account on Quicken. i'd like to know if there are plans to resolve this inconsistency and make it so that i can maintain my transaction history while also continuing to receive updates via EWC+ from Fidelity NetBenefits.
Comments
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I wish I had seen your comments before dutifully updating the connection to Netbenefits.
Basically what happens to me is that Quicken has downloaded a new set of securities and ignored the old.
This happened twice - just checked to see if I had done something wrong. Quicken please repair!!!
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Agreed, they need to get this fixed or warn users. Thankfully I had made a backup to restore information. But, after trying the update it seemed to create duplicates of all the securities in my Fidelity account. I tried merging them, which at first appeared to work, but the next day when I went to update it showed that all my securities were basically zeroed out so had to restore again. Don't have time to keep rebuilding, so a fix needs to be escalated.
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Try merging any duplicate securities created in the switch; this has resolved problems for many users, per reports here.
Quicken Mac Subscription • Quicken user since 19930 -
I called Quicken yesterday. Apparently there is a bug in Quicken and they have now escalated the issue. This will take plus minus 48 hours to repair.
Keep your backups!
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Does anyone know if Quicken and Netbenefits (Fidelity) sorted out this problem yet?
Thanks
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After merging the "new" funds, mine now appears to be working except 1 out of the 4 funds does not update its closing price. The 3 that worked this morning, has been a hit and miss meaning that some days they might and some days they might not update. I'm at 3 straight days of updating those 3 currently.
"VANG INST 500 IDX TR (ON9W)" (just named VANG INST 500 IDX TR initially) is the one I'm having the updating issue with.
Quicken Mac Subscription • Quicken user since 19940 -
I had the same issue, I deleted the new securities that came through, but now I have 4 investments that the quotes are not updating for and 1 investment that keeps coming in as known. I am a windows user, so the issue seems to be for both.
@Quicken Anja are you able to give us an update on this bug?
Thank you
Trevor
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