Two Brokerage Accounts Linked to One Checking Account

Using win 7 Pro 32 Bit, 2011 Deluxe

I have two IRA's linked to the same Checking account. Spouse and my account. Both have brokerage accounts with Vanguard. Not exactly the same as your situation but close.

Marty

I also have a WellsTrade account. It isn't linked to a checking account in real life. It holds the cash within the brokerage account. Why would you link it to a checking account in Quicken?

Because I want a checking account and linkage in Q is required to download and keep it up to date with WF. Checking provides easy access to money and a place for trade settlement, income, and paying bills without going on-line and manually transferring in or out of the brokerage account.

W/F offers both "CAP" and "PMA" checking.

The CAP links to Wells Advisors Brokerage which is full service and was provided when my Wachovia CAP account was moved to WF. For this to work properly in Q one must use linked accounts because WF does not generate all the required download transactions from checking.

A PMA gives 100 free trades per year and is linked to WellsTrade. You can change a CAP to a PMA but can then never go back to CAP which WF appears to want to do away with.

I expect to open a PMA and then move most of my investments from WF Advisors to WellsTrade. That gives me PMA free trades AND advice from WF Advisors.

I will have to update CAP checking, undo the linkage to Advisers, link Advisers to PMA checking, and transfer the funds from CAP to PMA. To transfer investments I have to work with my account manager at WF Advisers.