Hi, I set up a new 401(k) account in Q2005. The wizard asked for the financial institution, mine [John Hancock] was not on the list. Q05 created the account with no option to set up downloading [that button is grayed out]. I know I have web access to the account.
Is there a way to enable financial data download in this case ? Or is my only option to forget about 401(k) and set it up as a regular investment account ? This limitation makes the 401(k) account type quite useless, doesn't it ?
Having web access is not the same as having the ability to download your file in Quicken. If Quicken does not recognize your Financial Institution, chances are you will not be able to download into Quicken.
"Gershon Shamay" wrote in news:zPSze.64921$go.49302@fed1read05:
I had a similar problem when I set up my 401(k) with Fidelity. I called Fidelity and they told me to specify something else from the list (NetBenefits?) Downloads work fine. Perhaps Hancock has a similar alter ego that talks to Quicken.
No, absolutely not. My 401(k) financial institution does not work with Quicken, but I have my 401(k) account set up and working fine. You just have to reconcile the quarterly statements manually like you would any other bank account.
Jared
would any other bank account.
Jared, I expect much more of a software package like Q05. I do not reconcile my bank accounts manually, I let Q do this through downloading. Nor do I reconcile my investment accounts manually, this is again an auto download - in this case Q does a decent job telling me the differences between my FI data an my registered transactions. Why the same should not work for a new 401(k) account is a mystery to me. I can understand if the FI does not agree to transfer data, but in this case Q will not even try. Back to my question - how do I convince Q05 to try and download data ?
Back to my question - how do I convince Q05 to try and
Suggest you start with a call to John Hancock - after you convince them to institute QW download compatibility, the rest is easy.
There is nothing wrong with Quicken - what previous posters [and QW] are telling you, if you'll listen, is that it appears that your FI does not subscribe to the download service. [I paid a brief visit to the JH website and a cursory look found no mention of download capability to any financial software package.]
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