Does anyone know how to fix Fidelity mutual fund posting as described below?
I finally have figure out what the problem is with my Fidelity Annuity since we were forced to give up DC for QC.
Fidelity mutuals update about 9pm PST, not earlier when the stock market closes. At 9pm, I opened Fidelity and saw the gain/loss - this time was a loss, for the day 10-14. I opened Quicken and looked at those 6 funds in the annuity, the loss from 10-14 is showing on 10-15! It's not even 10-15 yet!
So, I see it appears that the pricing dates are wrong, and although it 'allows' me to change the date, it doesn't update it. So the gain/loss for each day is posted on the NEXT day, before the mutuals even open.
I called Fidelity customer support, he had no clue what I was talking about. Sad.
So, can anyone offer how to fix these 6 funds within Fidelity without having to manually change pricing each and every day of my life?
This is from Fidelity on today, 10-15, showing last pricing on 10-14 but NO gain/loss for the current date of 10-15 since the market is still open and it won't update until after 9pm PST.
This is how Quicken is showing one of the above funds - notice how it says CLOSING PRICE ON 10-15 - the market is open, there is no closing price for 10-15. It won't allow me to change and save it to 10-14
This is a make it or break it deal for me with Quicken, I'm spending far too much time on it. TYIA!!
[Edited - Removed partial account numbers]
Comments
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Hello @SCPat,
Thank you for reaching out! If you haven't already done so, the first troubleshooting step I recommend is backup your Quicken file and try rebuilding the price history. To do that, please follow the instructions in this help article:
I hope this helps!
Quicken Kristina
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I tried that, it says none of my 6 fund numbers were able to be identified - which in itself is bizarre. The balances get updated daily, it's just the pricing that is messed up - every single day. [Edited - Language] So, I deleted the account and reactivated it. We'll see what happens on Monday.
I do see a trend with this. It seems that Quicken can't tell that these mutuals in the annuity don't update until 6pm EST, not earlier when the stock market closes at 4. Therefore, it incorrectly posts the gain/loss as of the next day. So, for example, at 6am the next day, before the market even opens, I have a gain/loss on those 6 accounts that is reported for the day but the market hasn't even opened - it's the previous days. The previous day pricing always reflects the same for the opening and the closing. This is beyond annoying, please find a fix! TYIA.
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Thank you for your reply,
Since rebuilding the history did not correct the issue, if the issue persists on Monday, I recommend contacting Quicken Support directly for further assistance, as they have access to tools we can't access on the Community and they're able to escalate the issue as needed. The Quicken Support phone number can be found through this link here. Phone support is available from 5:00 am PT to 5:00 pm PT, Monday through Friday.
I apologize that I could not be of more assistance!
Quicken Kristina
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Thanks - I will try again and appreciate your efforts. I don't have good luck with Q support, I've tried twice, it's like whomever I am speaking with just doesn't understand it, but I'll try again.
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Hi, @SCPat
A few things: 1) the quotes server will not have immediate pricing when the markets close. There usually is a 2-3 hour delay as prices get updated, so 9PM PST is about right. That said:
2) Depending on the fund, not all funds (depending how they are listed) get their prices from the quote server (which I suspect is happening here.) Some will have to get the prices directly from the brokerage when you update the account. And in my experience with Fidelity, their website/quotes are always a day behind for said funds. They won't get refreshed until midnight ET.
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HI John, what you said does make sense. I never encountered this daily issue until we had to change the Fidelity connection. I don't know how to fix it.
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Hi, again, @SCPat
The day-behind prices acquired for funds not provided by the quotes server is not anything new-I used to see that even with Fidelity using Direct Connect. You might be noticing it now because you are focusing on Fidelity during this transition.
What also might make it more noticeable is that we likely aren't getting a real time connection to Fido. If the transactions are being aggregated behind the scenes (which they likely are), then it doesn't matter how often you update during the day-you are just being presented with the data that was harvested early that AM. (Prices provided by the quote server are independent of this-just the data from Fidelity.)
Assuming your data for these funds is simply a day behind, I really don't think there is anything you can do, short off manually entering the prices. And that can even be a challenge finding the current price as the Fidelity website shows yesterday's prices as well. I have just learned to live with it.
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That's a bummer for sure! I never experienced this with DC and I've had Fidelity for years. It seems like window users don't have this issue, I'm on a Mac. Now, with only with the annuity, Monday has no gain/loss reported as it goes on Tuesday. Friday is a complete mess; it doesn't go on Saturday, it just goes away.
There has to be a way….
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Just to let you know, I contacted Quicken once again and this time, I got a guy who really understood what I was saying. I had screenshots so he could see it as well. He reached out to others and came back and said it's something Quicken cannot fix at this time. Apparently, now that they are not getting pricing directly from Fidelity through the DC and coupled with the fact that mutuals only update once daily and about 3 hours after the stock market closes, he said something about getting pricing from Morningstar -so it automatically goes to the next day. I know I am not the only one that has some mutuals, so it's obviously affecting others, he said he would see about getting it added to all the other Fidelity problems, but there is no guarantee it'll ever get resolved….terrible to hear but I truly appreciated the fact that he really 'got it' so we'll see. I've been with Q since the 90's when it belonged to Intuit, never have I experienced such an annoyance. But, it is what it is, and hopefully, it will get corrected. Until then, if I want it accurate, I'll have to update each fund within the mutual - daily - that's pretty impossible tho….
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Hi, again @SCPat
Yes, this affirms what I have been stating: Quicken can get publicly listed funds directly from Morningstar a few hours after the markets close. Nothing has changed on that front.
It is the non-publicly listed funds you hold with Fidelity that must come directly from them. And those will come the next day.
In the past, DC provided those prices later in the evening which is what I suspect you saw before. (IIRC, you are West Coast which makes sense) Now, with QC, you won't see those prices until the next day.
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Yes, you are 1000% correct, I just do not understand why it's never been an issue in the past years - or actually before losing the DC in July. I could update our accounts the next day and those particular mutuals reported accurately on the day the activity happened. Friday's gain/loss just disappears since everything is closed on Saturday. It's a mess. I wish there was another program to use.
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If I recall correctly, you are West Coast (?) I question if it is because you updated late enough each night that Fidelity was already providing the updated prices for non-public funds. Now, you are forced to being a day behind.
But, before I say "that's just the way it works", I should ask are the prices being reported on the correct dates in the price history? A delay in the update is expected, yes. But, if Friday's prices are being recorded as being on Saturday-that is indeed a problem.
DC is being phased out for multiple reasons, so I doubt you would have any better results with another application.
(I hope I am being helpful and not creating more angst.)
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Yes, I'm in CA. Regarding the price history, no it is no longer on the correct date. For example, Monday's pricing will show the opening and the closing price as the same. Then it'll add pricing for Tuesday that actually is the closing price on Monday on my Fidelity site. That pricing on Tuesday will also have the same price for opening and close - but the market hadn't even opened yet.
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Hi, again @SCPat
Thanks for this important detail: a delay in receiving prices is normal for non-public funds. Having them post as the wrong date is definitely not.
Now, I am not a programmer who delves into how dates/times are handled for data import, but the first thing I will ask is if your Region (US) and Time Zone are correct in your Mac's Settings? Nobody else is reporting this, so that is why I ask.
If your Mac is setup correctly, then definitely go to Help:Report A Problem and note that the prices are coming in for the wrong dates for these funds. The devs really need the files to troubleshoot the problem.
Good luck!
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Thanks - I truly appreciate your effort in trying to resolve my situation. I did check my region, time zone etc and all is correct; nothing has changed except for having this new issue since I lost the DC in July.
I searched Report a Problem and it looks like it's just previous ones; there is no form for me to fill out. I did see that in previous Report a problem comments, that this doesn't actually go to any developer, it's more of an info thing for them. They may have it shut down for now, Idn.
I really am just at a loss. Is it because these funds are in an annuity, I have no idea. But thank God, it's only this one account. I'm hoping the tech guy I spoke with that actually understood my issue, will eventually give a fix.
Thanks anyways! If you ever get any new suggestions - I'm open to trying! Enjoy your weekend.
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The Window: Report a Problem is still functional, and sending in the file/logs is the best way for the developers to address this kind of issue. You won't hear back unless they need additional details, but it is far direct than calling tech support. They will have actual evidence the problem occurs and can do their sleuthing into your logs/files. They can't fix a lot of these problems if people don't send this data.
I wish you luck with this!
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OMG, I didn't look down the scroll list far enough, thank you, I will address this today!!,
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Hello @SCPat,
I checked your interaction with Support and can see they noted the issue with prices being delayed, but did not include the issue with prices reflecting the wrong date. The issue with delayed prices has been reported for further investigation and resolution (CTP-14996).
I forwarded the issue with prices reflecting the incorrect date to the proper channels for further investigation and resolution. Please let me know once you've sent the problem report with logs attached, so I can add you to the ticket.
While I doubt the issue is file specific, one thing you can try, just in case it is a file problem, is restoring a backup from before the problem started, and test to see if that does resolve the issue.
Thank you!
(CTP-15258)
Quicken Kristina
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Actually, I'll send it Tuesday, after it messes up Monday's pricing, or Wednesday to show what happened on Tuesday if I cannot get it done Tuesday. It's time consuming.
I really do not want to restore another backup; I've tried that before and there are just too many transactions to recreate going back to the end of July. This is quite unpleasant and shouldn't be happening. Not sure if the mutual funds being in an annuity are the cause, but it never was when I had DC.
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Thank you for the follow-up,
Sounds good.
Please post to let me know once the problem report is sent!
Quicken Kristina
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I just sent it this morning along with 6 screenshot attachments of the pricing errors along with the Fidelity account pricing so they could see Monday's and then see how Fidelity clears itself when the market opened today (Tues). I did explain this has been happening everyday since I lost the DC connection. I hope some genius can figure out how to correct this to reflect the proper day's pricing.
With the Report a Problem screen, I had to uncheck several pre-checked things in order to send my attachments - I don't even know what they were or why they were pre-checked in the first place.
TYIA.
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Thank you for your reply,
Thank you for using the problem report to send the screenshots.
The pre-selected files are log files that our teams need in order to investigate the issue. When you're able, please send a problem report with those log files attached. Please let me know once it's sent.
Thank you!
Quicken Kristina
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Ok, so now I'm confused because when I originally tried to send it, it said there were more than 10 attachments (I have 6) and I had to uncheck those preselected ones. So, you're saying I need to redo it and not send all the 6 screenshots that I wanted to?
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Oops, I misread your comment. I resent it now but with only 3 of the 6 attachments I had made previously so it still has Quicken's preselected things. Please let me know what else they may need.
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Thank you for the follow-up,
Thank you for sending the problem report with those log files. If our teams need anything further to investigate the issue, they'll either reach out to you directly by email or ask me to follow up with you on the Community.
Thank you!
Quicken Kristina
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NetBenefits 401k accounts - no 10/14 non-public fund prices downloaded as of 10/15, 2PM Central.
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Does the non-public fund get daily price updates? Not all do-even publicly traded funds.
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Then the question is, why not? As many others on these forums have said, this is why we pay our subscription fees. BTW, my Friday 11/14 prices showed up today, Sunday AM. Better late than never.
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Hi, @Ducati
SCPat's thread is dealing with prices being reported on the wrong date in the price history. If that is the case you are having, then submit a report (with file/logs) via Help:Report a Problem.
You didn't indicate that this was your issue, just that you hadn't gotten updated prices. My initial comment to you questioning if that fund has daily price updates is exactly that; not all do. Some funds might update prices once a week-and this is not a Quicken thing. Just how the fund works-especially some non-public ones.
In your subsequent reply, you noted the price did update Sunday AM. Is that price is being reported correctly in the price history? If so, I don't think there is a problem outside the usual aggregation server delays. (These non-public prices don't come form the quote server, but from Fidelity itself, and they usually only update around midnight. When the aggregators sweep accounts will be affected by this.)
If the price is reported incorrectly or on the wrong date, then please submit the Help:Report a Problem Thanks!
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Yes, I would to have my thread stay on topic, thank you @John_in_NC.
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