What’s Going On Between Fidelity and Quicken?

leishirsute · October 17

I created a Discussion of my list of problems which I hope to keep updated. I shouldn't have to do this, Quicken support should be providing an up to date list of issues regarding this migration. There are so many posts, I needed someplace to summarize issues I have with the migration. I know others are experiencing different problems as well.

My list is at "https://community.quicken.com/discussion/7967186/my-list-of-broken-fidelity-ewc-functions/p1?new=1"

Boatnmaniac · October 17

https://community.quicken.com/discussion/comment/20515990#Comment_20515990

If you click on the blue font Cash Balance dollar amount does it show that what Quicken is reporting ($2074.87) and what Fidelity is reporting are in agreement with each other or does it show that Fidelity is reporting $0.00 for the Cash Balance?

For me, Fidelity is reporting $0.00 so it is always a mismatch with what Quicken reports. While I prefer to see the value of FDRXX as the Cash Balance it is more important to me to have Quicken match what Fidelity is reporting. So I entered that manual Buy transaction of FDRXX causing the Quicken reported dollar amount to be $0.00, as well.

Doing it this way means that Quicken will not continuously warn me of a securities mismatch (and potential Placeholder entry for it) and I can use Quicken to Reconcile the account instead of having to do Manual Reconciliations. Of course, this is a personal choice matter. For me it has allowed me to stop "fighting" the data inconsistencies which was terribly frustrating for me.

BTW, to make it easier for me to see if I have any Core Account MMF holdings in Quicken I have done the following.:

Added "**" to the tickers so FDRXX is FDRXX** and SPAXX is SPAXX**. This matches how they are shown on the Positions tab of Fidelity.com. And in the Holdings view it causes any Core Account Holdings to stand out from the other securities that are listed.
Set the accounts preference to show the ticker before the security name.

ct89 · October 17

https://community.quicken.com/discussion/comment/20515920#Comment_20515920

I am also seeing the same "deficiencies" as @leishirsute.

In one account I downloaded last night, I had 29 new transactions
8 dividends were received correctly
10 dividends were incorrectly received as deposits and needed to be manually changed. These are really annoying and require the most manual work.
11 Withdrawals which previously had "Foreign Tax paid" or "Late Settlement Fee" as the payee and would align with a memorized payee and get the correct category set are now showing-up as "Fee charged <security name> which is not matching and creating lots of new memorized payees as I handle them manually. It would be really nice if I could auto rename them and then have them hit the memorized payee list

In another account I also had several "Deposit + Buy" transactions that should have been ReinvDiv. Similar

AND, I too see several accounts which have the annoying but easily ignored error about core money market mismatches.

What used to take seconds with the DC connection and "Accept All" is now tens of minutes across the accounts with the EWC+ shortcomings. I can be patient for a while but we have definitely taken a step backwards with EWC+.

Hopefully someone is actively working on making these better. AND Thanks to everyone here for helping to find creative workarounds while the developers work to dig out of this transition hole.

leishirsute · October 17

https://community.quicken.com/discussion/comment/20516009#Comment_20516009

Similar as you describe. Quicken reports $2074.87 and reports it downloaded $0.00 for Fidelity. That is causing a mismatch in holdings for FDRXX in that account. However, the correct cash balance shown on the Fidelity website via browser is $2074.87. So, I'm just ignoring the holdings mismatch. I have no problems with reconciling the account with this method. I see your point about the buy of FDRXX. Do an initial buy of FDRXX for the cash balance amount and then change the future monthly Div to ReinvDiv. Thanks.

NotACPA · October 17

Results of OSU this morning, 1st after EWC+ conversion.

Somehow, the check mark to include Fidelity was removed from the OSU selected accounts (as was Chase). Don't know how that happened. Would suspect EWC conversion, but that wouldn't explain Chase.

When I manually ran update, 1 transaction (a check) came into my taxable brokerage account with "Show Cash …", but there was nothing pertaining to FDRXX (the fund for the checking account) or any issues.

Which makes me wonder if "Show Cash … " somehow bypasses the FDRXX "cash vs. security" issue.

Boatnmaniac · October 17

https://community.quicken.com/discussion/comment/20516014#Comment_20516014

Yes, I understand the Cash Balance that Fidelity shows on the Balance tab. But they also show the shares held on the Positions tab. So, it really is 6-of-one-half-a-dozen-of-the-other situation, hence a matter of personal choice.

We both agree that regardless of which method we choose to use, it is a PITA and Fidelity/Quicken need to resolve this issue.

SMT2 · October 17

@Boatnmaniac

I do agree handling the cash balance vs shares held mismatch issue is a personal choice/preference, and is also PITA. I do however sided with @leishirsute approach in making Quicken Cash Balance to match Fidelity Cash.

My reasoning is when Quicken fixed the software down the road, no additional action will be needed with @leishirsute approach. For those who changes it to Shares Held today will have to convert it back to cash, which may introduce addition heartburn.

Boatnmaniac · October 17

https://community.quicken.com/discussion/comment/20516042#Comment_20516042

There are many Fidelity customers who prefer their Core Position to be reported as Shares instead of Cash so my suggestion is well suited for them. Your and @leishirsute's suggestion would be more "problematic" for them if/when Fidelity/Quicken fixes the reporting issue because then they would need to deal with Placeholders and balancing Buy transactions at that time should they select the Shares option.

For those who prefer the Core Position to be reported as Cash instead of Shares (as do I): I think (not sure) that if/when Fidelity/Quicken fixes the FDRXX reporting issue and we select the Cash option Quicken will do what happens whenever we select that option for other accounts which is that Quicken will automatically remove the FDRXX Buy and Sell transactions. So, no action on our part at that time.

There is no perfect solution at this time. Each person just needs to select the option that works best for them.

leishirsute · October 17

@Boatnmaniac "suggestion would be more "problematic" for them if/when Fidelity/Quicken fixes the reporting issue because then they would need to deal with Placeholders and balancing Buy transactions at that time should they select the Shares option."

This past month's income processed correctly as a Div for FDRXX and increased the cash balance. That hasn't changed from the DC days.

AndrewLC · October 17

https://community.quicken.com/discussion/comment/20515927#Comment_20515927

I have the same problem, which I have reported on this thread several times. Apart from a few days in late September when transactions downloaded correctly, I have not received any transactions from Fidelity since the end of July. This despite de-activating and re-activating my several Fidelity accounts multiple times. My other accounts which use EWC+ (Schwab; TD Bank) all work perfectly. When Oh when will this be fixed? Some word from Quicken itself on this rather than Quicken users would be appreciated.

Boatnmaniac · October 17

https://community.quicken.com/discussion/comment/20516061#Comment_20516061

Yes, that is what happens for me, too, in Quicken. But, it is not what happens in the Cash Balance data that is downloaded by Fidelity because that data is consistently $0.00.

Let me clarify some: One should not be keeping both downloaded FDRXX shares transactions and Quicken's FDRXX Cash Balance in the account. Doing so will cause Account balance issues that will only become more significant as time goes on. To avoid this issue from occurring:

For the Shares reporting option: Change any downloaded Div transactions to ReinvDiv transactions. Then manually enter Buy transactions for any remaining Quicken reported Cash Balance.
For the Cash reporting option: Delete downloaded Buy and Sell transactions for FDRXX. Change any downloaded ReinvDiv transactions to Div transactions.

What I was trying to say in my previous post is that for those who wish to have the Core Position reported as Shares and not as Cash it would be problematic for them to keep the Quicken reported Cash Balance instead of the downloaded and/or manually entered Shares transactions.

And for those who wish to have the Core Position reported as Cash instead of Shares, then it would be problematic for them to keep the downloaded Shares in Quicken when they are keeping the Quicken calculated Cash Balance in Quicken.

To keep the account in balance, the Core Position needs to be reported as either Shares or as Cash Balance, not as both, or it will eventually become problematic and it will take more effort later to get it all straightened out.

leishirsute · October 17

@Boatnmaniac "For the Cash reporting option: Delete downloaded Buy and Sell transactions for FDRXX. Change any downloaded ReinvDiv transactions to Div transactions. "

Last month the dividend for FDRXX was correctly reported as Div, even for the EWC+ connection. That's the same way it's been reporting even for the DC connection. There was no Buy and Sell transaction. I just let the Quicken cash balance stay correct and not bother with the shares mismatch.

Boatnmaniac · October 17

https://community.quicken.com/discussion/comment/20515983#Comment_20515983

Yes, I should have also added that it is not a 1X correction. It needs to be managed every time there is a transaction that is related to Cash and/or FDRXX.

My point was that to do nothing will result in account balance issues that will only grow over time. So, either take actions to consume the Quicken calculated cash or to remove the FDRXX shares transactions. Not doing so can make it more difficult and time consuming to "fix" later and, in the meantime, will make the account balance to not be in agreement with what is shown in the Fidelity website which also will adversely affect the Net Worth report.

mfstarnes · October 17

I'm having the same issue with other sites that import Fidelity accounts. One example is Empower, where today i realized the fidelity accounts had not updated since 9/27/25. I was able to re-authorize and get updates.

This tells me the issue lies at Fidelity and not at Quicken. That said, at least one of these entities should be providing reliable updates until this is resolved. I would think Fidelity would have a vested interested in correcting this as I have a hard time opening another account there until this is resolved.

dpd · October 17

I have 6 Fidelity accts: two IRAs that use Cash reporting and 4 Brokerage accts that use Shares reporting. With the EWC+ conversion, will I still be able to select either method for individual accounts or does it all have to be the same?

Thanks

Movie Nut · October 17

https://community.quicken.com/discussion/comment/20516094#Comment_20516094

I called Fidelity. Their back office points finger at Quicken. I Requested Fidelity provide communication to their users about known problems, status, etc. I pointed out this is a joint Quicken/Fidelity issue and Fidelity forced the migration from DC to EWC+.

Quicken Kristina · October 17

Hello All,

I am closing this discussion because it is overly long and has multiple issues mixed together, which can make it difficult to follow.

If you are having issues with Fidelity accounts in your Quicken, please review this alert:

https://community.quicken.com/discussion/7967194/updated-10-17-25-fidelity-migration

If the issue you are encountering is not listed in the alert, please start a new discussion.

Thank you!

What’s Going On Between Fidelity and Quicken?

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