Fidelity EWC+ Brokerage Securities Sales Not Showing [Edited]

What does Fidelity.com show for your Core Position/Fund? FZDXX or SPAXX? It cannot be both and what is selected in Quicken must match what is shown in your online account.

The Core Position/Fund in your online account will usually be the 1st security shown on the account Positions tab but sometimes it will be further down the list. Sometimes it will be shown there as Cash Held in money market (click on that to see which MMF it is) but other times it will be identified by asterisks following the ticker (ex, SPAXX**).

It should be noted that if you currently have no positions held of the Core Position/Fund MMF then it will not be visible there.

To answer your question: Quicken now gives us the opportunity to have the value of the Core Position/Fund reported in Quicken as the Cash Balance or reported as shares. It is one or the other, not both.

If you select it to be reported as Cash Balance, then there will be no (nor should there be any) redemption (Sell) transactions downloaded into Quicken. Instead, other securities Sell proceeds, Buys, Dividends, Interest, Misc Exp and Distributions transactions will simply debit or credit the Cash Balance. This has been the historical default for how Fidelity used to download for over 20 yrs.

If you select it to be reported as Shares, then the Cash Balance in Quicken should always be $0.00 and there will be Buy and Sell transactions of the Core Position MMF downloaded into Quicken. This is something Fidelity generally did not do historically so for most people this is new.

Again, the Core Position in Quicken and the Core Position on Fidelity.com must be the same or there will be account Cash Balance and Shares issues in Quicken that can greatly adversely affect the account balance.

If the two are not the same, this can usually be corrected by going to the Online Services tab of Account Details and clicking on Set/Edit button, then clicking on Reset to Default and then clicking on Customize to select the MMF that is the Core Position. This process will then allow you to set your preference to report the Core Position as Shares or as Cash. When done, Quicken will make adjustments to the account register and the cash balance. There might still need to be one-time adjustments to the Cash Balance and/or Shares (usually to delete Placeholders). Once done, close Quicken, reopen it and run OSU, again. Everything should now be in balance.

For most Fidelity investors your account exec is correct. The standard options for Core Position funds for brokerage accounts are SPAXX and FZFXX. For retirement accounts they are SPAXX and FDRXX. (FCASH is another option but FCASH is not really a MMF.)

But some high net worth investors can designate FZDXX and a few other premium MMFs as their Core Position. It has a little bit higher returns (by another 0.1%-0.19%) than the standard Core Position offerings provide.

Anyone can invest in FZDXX as a standard MMF security but it does require a $100K minimum investment. IMO, FZDXX is more of a "feel good" investment because the returns advantage is very small. In a best case scenario an additional 0.19% return on $100K is only $190/yr. One would be far better off investing most of that into a good balanced MMF.

Anyway, back to your issue: If your Core Position is SPAXX and not FZDXX and if redemption transactions (Sell transactions) of FZDXX are not downloading into Quicken that is an issue.

• Are you running R65.29? If not, you may want update to is because it includes a fix regarding Core Position MMF handling.
• Is SPAXX identified on the Online Services tab of the Account Details as the Core Position? If so, go through the Set/Edit process mentioned in my last post and "change" it to SPAXX, again. I know it sounds crazy but believe it or not that is what fixed the issue for me after I'd updated to R65.29. Once done, close Quicken and then reopen it and run OSU. It was only after closing, opening and running OSU, again, that my MMF issues were resolved.
• If SPAXX is not identified as the Core Position, try changing it to SPAXX through the Set/Edit process. Once done, close Quicken and then reopen it and run OSU.

If none of this resolves the issue for you, it should be reported to Quicken so they can investigate and address it with Fidelity and perhaps Intuit. If you have not already done so, please go to Help > Report a Problem and report this issue. They still are very focused on getting the remaining EWC+ issues resolved.

I found something yesterday that is really odd with Fidelity and the displayed Core Position MMFs.

As mentioned earlier, many of my Fidelity accounts are managed by a 3rd party. For the majority of the time the 3rd party has been managing them all of the retirement accounts had FDRXX as the Core Position.

About a month ago the Core Position in one account changed from FDRXX to FZDXX and I had assumed that the 3rd party manager made that change. I checked the Fidelity Mobile app which confirmed that FZDXX is now the Core Position MMF for that account. Yesterday, the 3rd party manager told me that Fidelity determines which MMF will be used for the Core Position. OK, odd but OK.

Now here's where it gets weird: As mentioned, the Fidelity Mobile app shows the Core Position for this fund is FZDXX…but the browser website on my computer shows the Core Position is FDRXX! Clearly there is something broken at Fidelity…at least with this account.

Do you have the Fidelity Mobile app? If so, would you compare what it shows for your Core Position to what Fidelity shows for the Core Position on their website?

Well, it would be interesting to see what happens and see if your situation is similar to what I just saw. Just how does Fidelity show different Core Position securities for the same account on 2 different account access devices? If you get the same results then we can report it to Fidelity and Quicken as a Fidelity issue. Otherwise, does it mean it's just my account that is affected?

Thanks! I'll hold off on reporting this until then. I don't want them fixing anything until we know if my observation is a 1-off or if it is something bigger.

Thanks for the update. Glad to hear it is now working for you as it should.

Anyway, as for me: My Mobile app and my browser online accounts are now both in agreement that FZDXX is my Core Position and that is what is shown in Quicken. So, it looks like something happened for both of us that straightened everything all out.

BTW, Never interpret downloaded Money Market funds as cash means to never show any MMF as cash and instead show them all as shares. If you want your Core Position MMF to be shown as Cash you do need to have this box unchecked so that the downloads of the selected Core Position MMF will be reflected as cash instead of as shares.