Well I did figure out the Brokerage Account and I have the cash value
inputted already. I have not made any investments nor have I moved any of
my existing accounts under the Fidelity umbrella yet. That is where I'm not
to sure how to do it. It would be cool if you could select an existing fund
in your quicken account and simply group it under the brokerage account. I
never looked to see if that is possible, but based on what you've already
said, I doubt it would be as easy as that.
Also, I don't know why it would matter if the funds are IRA vs. Non IRA
because Fidelity handle those details as to what I pay on capital gains and
what is is not paid. They would keep the funds separate for me and give me
one single statement.
The account is named (automatically) as "Brokerage AccountInvestment xxxxx",
where xxxx represents my account number. If I rename this account, will it
still download (import) everything okay? I ask this because I have an issue
with a Visa account. As I import transaction for reconciling, it creates an
account with a different name. I just do a "Move" on all the transactions
then delete the account when I'm done. I was just wondering. Maybe better
if I repost?
"John Pollard" wrote in message
Using Quicken 2012
I have several investments. Today I created a Fidelity account which will
encompass several of my existing accounts plus have the cash amount. The
cash amount has been given to Fidelity already to create the account but not
currently invested in any stocks, MF,..... ect.
My question is this:
What type of account should I create? I know how to create MF and Bank
Acct., but not an account that can implement a wide variety of investments
types. Or should each individual investment get tracked in it’s own new
account? This seems like it could be messy trading in and out of accounts.
I suspect the cash amount that I currently have is very similar to a Bank
Account until I start transferring into other avenues.
Assuming it's not a retirement account, I would just create a plain Quicken
"brokerage" account. When you tell Quicken the financial institution name,
and fill in the logon credentials, Quicken (and Fidelity) should do the rest
of the work for you. The downloaded data will contain the necessary
information for Quicken to create one account, or many accounts ... it's the
financial institution that controls the process.
If the real-world account is a true brokerage account, I think you'll get a
single brokerage account in Quicken.
If the real-world "account" is really multiple mutual funds (where Fidelity
treats each fund as an account); I believe the account setup process will
create one Quicken account for each fund (each downloaded "account").
I would backup first.