Quicken 2014, mismatch on securities after One Step Update

"jo" wrote

Several times recently after doing my usual One step Update of all accounts, I seem to get all the correct transactions and price changes, but an error screen is shown saying that holdings in Quicken do not match holdings at my brokerage (MSSB). It listed some securities which I don't even have any more.

It seems to get fixed after doing another update on this brokerage account, and I don't see any damage, but am suspicious. So I backed it up, and tried to run Validate on the file. That ran through quite a few stages but ultimately froze. I had to end task it.

Does anyone have any ideas what would cause either the original problem or the freeze doing Validate?

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It's a known Morgan Stanley problem. They are downloading your holdings with an "as of" date of 9/21/2001. Quicken is comparing its holdings to those downloaded holdings ... and offering Placeholders to "correct" the difference.

I understand that Morgan Stanley is aware of the problem and has taken ownership, and promised a fix.

In the meantime: delete the placeholders, and refuse future offers based on the incorrect "as of" date.

Thank you, John. I did notice there seemed to be dates going back to 2001 . Fortunately I knew not to allow Placeholders to correct anything, which would have been a collosal mess. Once in a while I will selectively allow one when I'm too rushed or impatient to figure out how to account for the t ransaction in Quicken, but at least this time, no mass correction needed. I did not get the problem last night, so hopefully it has been corrected . How in the world did you find this out? I was on the verge of calling MS, but hoped that someone here would have the answer. jo

Thank you, John. I did notice there seemed to be dates going back to 2001. Fortunately I knew not to allow Placeholders to correct anything, which would have been a collosal mess. Once in a while I will selectively allow one when I'm too rushed or impatient to figure out how to account for the transaction in Quicken, but at least this time, no mass correction needed. I did not get the problem last night, so hopefully it has been corrected. How in the world did you find this out? I was on the verge of calling MS, but hoped that someone here would have the answer.

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I don't have an account with Morgan Stanley, but several users in the Quicken Live Community reported the problem, and before too long it became clear that the problem was the downloaded holdings "as of" date. It appears that the holdings themselves are correct ... but Quicken is being told that those holdings are as of 2001.

At least one user in the Community has reported that M.S. has said they are working on the problem. I'd be inclined to believe that they are. And if you are no longer seeing a suggestion to accept placeholders for your M.S. downloads, I'd be inclined to believe they have succeeded.

Take a look at the Holdings tab in the Online Center for M.S. Note the line just above the heading row. It should have text something like "Holdings at xxxxx as of mm/dd/yy". If that date is the date of your download (rather than 01/24/2001), I'd think M.S. got the problem fixed.