For many years I've had a traditional IRA , held by Ameriprise Financial Services, and activiated for online service within Quicken. This was listed on the statements as a 'brokerage account'.
I also had a 401k from a previous employer, also activated for online service within Quicken.
Recently we opened new IRA account, rolling over the entire earlier account as well as the 401k from a previous employer. This account is also with Ameriprise.
At the same time, I opened cash account with Ameriprise.
When the two rollovers went through, the online downloads correctly showed the removal of funds from the original accounts, but I'm not sure how to set up the accounts.
If I choose "This account is held at the following Institution", the only entry in the drop-down for Ameriprise is "Ameriprise Brokerage". followed by 'let Quicken set up my accounts and download information' If I choose it to let Quicken set it up, the only other options are to supply my userid/password. No further questions about which account I'm setting up, yet I have two separate accounts to set up, in addition to one already existing account at Ameriprise.
I'm not really sure how to proceed at this point. If I proceed, will the automatic setup detect and create both the new IRA account and the cash account? If not, then what?
OK, when I try that, Quicken connects, then informs me that "Quicken could not process your request because all accounts which use this customer ID at this financial institution have already been activated.". Yet when I log on to the FI's website, it showes me two accounts, neither of which I have set up in Quicken. The original IRA, which was rolled over to a new account (and WAS activated in Quicken), no longer shows on the web site. That doesn't surprise me, since we closed it out, but I don't understand why Q. thinks everything is already set up.
This is just a note in case somebody else has this situation:
T. Rowe Price, like some other FIs, uses a different account number for each fund instead of one account number for everything you have with them.
Therefore, using Q'06, when one adds a fund (an account) which uses online downloading one must first disable online downloading for all of the other accounts from TR Price BEFORE adding the new one.
If you do not do this first then during the process of adding the new account, when you are required to associate all account numbers to existing or new Q accounts, the process cannot be completed.
One would think that Q programmers would have made the process automatic for existing Q accounts that have the FI account numbers in their records already.
Eric
222 13839 body This is just a note in case somebody else has this situation:
T. Rowe Price, like some other FIs, uses a different account number for each fund instead of one account number for everything you have with them.
Therefore, using Q'06, when one adds a fund (an account) which uses online downloading one must first disable online downloading for all of the other accounts from TR Price BEFORE adding the new one.
If you do not do this first then during the process of adding the new account, when you are required to associate all account numbers to existing or new Q accounts, the process cannot be completed.
One would think that Q programmers would have made the process automatic for existing Q accounts that have the FI account numbers in their records already.
Tried that. Yes, Ameriprise assigns a different account number to each separate investment. So I disabled download on the existing account, then went through again. This time it presented me with a list of available accounts -- listing only the old account that we have rolled everything out of.
Separate log-ins for separate investments? Perhaps, but I don't see how/why. The credentials I gave Quicken are the same as I use to access my account(s) on the FI's web site, and that one log-on shows me all of my investment accounts.
This is really immaterial. Download data (including account setup info) is controlled by the fi and is totally separate from what they present at their web site, or how they present it.
I have multiple investment accounts with Vanguard and with USAA, each containing multiple securities; all download to the correct Quicken accounts in a single One Step Update (one logon per fi).
[Some have reported that they are required to have one Vanguard account and one Quicken account for each mutual fund they own at Vanguard; but that is not true for me: I have multiple funds ... in multiple Vanguard accounts, downloading correctly to corresponding Quicken accounts ... in a single One Step Update (with one Vanguard logon).]
I download 4 non-investment accounts from BofA: 2 mine, 1 my girlfriend's, and 1 joint (that is: different accounts, in different names ... even with different web site logons): all in the same One Step Update (with two different BofA logons).
I have 2 non-investment accounts at NFCU; while I can access them both with a single web site logon, I must initiate two separate Web Connect downloads to get the data from both of them downloaded to Quicken.
I have never had a single problem setting up any Quicken account for download, and in my testing, I have done it many, many times. Quicken can generally handle any logical approach; what you get is largely the responsibility of the financial institution.
Having said that, there are some not-always-obvious limitations, and even possible bugs, relating to the setting up of accounts for downloading.
For example: in most versions of Quicken, you can only setup 6 accounts from an fi in a single "download". Also, as Bob Wang has verified, most versions of Quicken (I think all pre-Q2007 versions) had a limit of something like 41, or so, accounts from all fi's that could be activated for (direct?) download.
And there may be some faulty logic involved in the Quicken setup of multiple accounts from one fi ... though I have never personally experienced such a problem, and the anecdotal evidence for this is not strong, in my opinion. One thing that has been missing from the evidence is OFXlogs for successful setups and logs from unsuccessful setups; especially the latter. I believe that Intuit would be happy to look at an actual OFXlog (and possibly the CONNlog) from an unsuccessful attempt to setup multiple accounts with a single fi; and to work to get the problem fixed, whatever its source.
[Note: I do not have Q2007 (my main program is Q2005 and I also test frequently with Q2006), and have no experience with Express Web Connect ... none of this post is intended to address Express Web Connect issues.]
Ok. I don't want to wear this thread out. I thought going in that I was just missing something simple from an operational standpoint. I'll poke around some more in Q, and also on the FI's website to see if they have any Quicken specific information. If I come up with anything I'll post back.
Ameriprise has one of the worst web sites for getting information especially into Quicken or Money. I'd go to another company who has updated technology.
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