Exchangein Issue and drop in a very large amount shown by Quicken of my 401K account

Mathew
Mathew Quicken Windows Other Member ✭✭
edited November 23 in Errors and Troubleshooting (Windows)

Hello, 1+ week as I was updating my Fidelity 401K account (recently configured for Express Web Connect+) and noticed that there was a drop in a very large amount shown by Quicken. This caused a big panic, and I immediately logged into Fidelity, where my account showed no drop. Looking at the online statement, Fidelity had done some sort of sell and buy of an investment on the same day (not sure why, and I need to follow it up with them as I had not initiated it – might be some sort of rebalancing)

In Quicken see the below two entries:

image.png

Searching this forum, see few other people have reported Exchangein issues. Can I know if Quicken had provided a fix for this? And until then, appreciate any suggestions on the right way to fix this manually that meet with standard accounting practices?

Thanks.

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Comments

  • Quicken Kristina
    Quicken Kristina Quicken Windows Subscription Moderator mod

    Hello @Mathew,

    Thank you for letting us know you're encountering this issue. If it downloaded showing "Unidentified Security", then it's likely the problem is due to this known issue:

    https://community.quicken.com/discussion/7966125/ongoing-9-29-25-fidelity-investments-401-k-unidentified-security-during-cutover

    If that is the case, then you should be able to correct the entry by following these instructions from the alert:

    • Edit each affected transaction
      • Open the register for the 401(k) account.
      • For every transaction tied to Unidentified Security, edit the Security field to the actual security name shown on the bank website.
    • Remove the placeholder
      • After all affected transactions are corrected, delete the “Unidentified Security” from your Security List.
    • Re-match holdings
      • Go to Tools > Online Center and choose Fidelity Investments.
      • Select the 401(k) account, then open the Holdings tab.
      • Click Compare to Portfolio.
      • When prompted, proceed with Compare to Portfolio and match to the correct security.

    Ensure every transaction previously pointing to “Unidentified Security” is corrected before deleting it. If the correct security name isn’t obvious, then confirm it from your Fidelity website holdings page.

    If the steps above do not resolve the issue, then we ask that you please contact Quicken Support directly for further assistance and escalation if needed.

    I hope this helps!

    Quicken Kristina

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  • Mathew
    Mathew Quicken Windows Other Member ✭✭

    Thanks very much Kristina, and appreciate your prompt help.

    I will try out the above procedure to fix the issue manually. And also await for the fix from the Quicken side.

    Thanks again.

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