Vanguard Services still not getting reinvested dividends correct

This time I watched very carefully. Stock A's dividend received. Instead
of "DIV" and "BOUGHT" (for the new reinvested shares) transactions like all
the times past for Stock A, now Vanguard is downloading "DIV" and "MISC EXP"
(to get rid of the cash balance, albeit incorrectly now without the
subsequent buy) transactions. Ergo, no purchase transaction to pick up the
new shares.
Net effect is that the shares owned do not match between Q's portfolio and
the Vanguard account website, and a Placeholder dialog screen is offered
instead. Yech.
Time to call again and complain. Others seeing the same thing?
Reply to
Andrew
Just spoke with VBS - they know about the issue, and have programmers working on it. For those of us that download Quicken stock dividend reinvestment transactions, PLEASE call their tech support and complain!
Personally, I'm amazed no one else posted a 'me too' to my original. Maybe I didn't title it correctly, maybe no one cares, maybe no one reads anything from 'Andrew'..... :-(
Reply to
Andrew
Actually, put me in I do not care. I have many issue with Vanguard this one in minor. I basically have to edit almost every transaction downloaded from them
Oilcan
Reply to
Oilcan
Oilcan wrote in news: snipped-for-privacy@t11g2000prh.googlegroups.com:
Me too. I use the website's statement data to copy manually. Tax data are done manually from the 1099s. I wish all these things could be reliably downloaded, but that seems wishful thinking, although 1099s may be close.
Reply to
Han
Wow! OK - thanks for your two posts anyway. Even if one has to manually edit the transactions (I admit I do a lot of that as well), at LEAST having the numbers correct for fractional shares is a head start of cutting and pasting from the website; at least for me.
But I do hear both of you. Again, thanks for listening!
Reply to
Andrew
"Andrew" wrote in news:4a815d23$0$31285$ snipped-for-privacy@cv.net:
Andrew, I thought you shoudl have heard the solution to the frational shares problems. NEVER, ever enter the price per share into Quicken. It logically follows from the total price paid (commissions and fees excluded) and the total number of shares in the transaction. This assumes (yes I know) that the total number of shares is displyed/downloaded correctly.
Reply to
Han
Sure, I know this. In the old (ie: Pershing days), a correct purchase transaction was indeed downloaded to Quicken correctly with the fractional shares included in the transaction. That's the part that doesn't exist anymore! Now I have to do that manually.
(Actually Han, I can't understand why you thought I didn't know that from my post? No where did I say I was entering the price per share....)
Reply to
Andrew
"Andrew" wrote in news:4a81e889$0$10323$ snipped-for-privacy@cv.net:
You confused me . I sure thought that you knew this, but still mentioned something about "having the numbers correct for fractional shares". I then thought it might be best (at least for others) to reiterate the never enter price per share statement.
Reply to
Han
Gotcha. When I said 'fractional shares', I really meant the number of shares (not the PPP) down to the 5 decimal point accuracy (or is it 4?) that I used to get automagically. Now cut and paste as we discussed is the way to go until VBS gets it's act together.
Reply to
Andrew
My investments with Vanguard are for my company's 401(k). I have six Vanguard Funds and two funds for my company's stock. Each fund has six sources for contributions/reinvestment. Vanguard's sources on the web do not map into Quicken's core sources for funds (for example, I am contribution/reivestment to my 401(k) as Roth Contributions and it maps to Cash Source of Unknown Source).
The dividends on my company's stock do not come in a reinvested dividends. Depending on the fund, they will send the fractional shares from three significant digits up to five significant digits after the decimal place, yet their website shows all transactions (rounded) to three digits after the decimal places as do their paper statements.
So, my process is to download the transactions, accept all and then correct everything (which these days is pretty much limited to the fractional shares where I make them match the web - I guess I should thank my lucky stars that they use traditional rounding. Up to Janaury of this year, was I downloading about 150 transactions per month. Since I change my investment direction, I am talking about 150 transactions per quarter.
Oilcan
Reply to
Oilcan
Now they say they'll fix this problem by end of the year. We'll see. I was told "in a month' 3 months ago. (To refresh, the dividend reinvestment transactions come into Quicken as a MISC EXP to get the cash out of your account and NOT picking up the extra shares that are really purchased as a result.)
Reply to
Andrew
Up until Nov 17th downloads from Vanguard have been perfect. Since the 17th I've been getting an error with each Quicken Update via direct connect. I called Vanguard and they said they were aware of the problem and would notify me via email when it was fixed. That was 10 days ago. From what I read in this thread, I should get ready for a long wait.
Reply to
Don in San Antonio
I have multiple issues with Vanguard Brokerage and quicken downloads. My advantage account (checking) leaves out most relevant information. I have to go online and look at each check image to get the information before I confirm the downloads. As others have noted, the reinvested dividends in the brokerage account don't download correctly either. I have talked to Vanguard about both issues, but don't have confidence that they will move quickly.
Reply to
desplin
When I last spoke to Vanguard on 23 November, "Lexi" they told me that the downloaded reinvestment dividends problem will be fixed by year end. That gives them 2 more days.
I am assuming that any dividend transactions after 1/1/2010 will have both the dividend received and the subsequent buy operation in the download, rather than a MISC EXPENSE to get rid of the dividend payment without any purchases (and an offer by Quicken to accept placeholders).
We'll see.
Reply to
Andrew
Well, they didn't fix it with some dividends that were posted to my Vanguard account as of 4 Jan 2010. Now have many placeholders pending manual adjustments. Time to call Vanguard again later this morning.
Reply to
Andrew
I have had multiple conversations with Vanguard. Their brokerage accounts are inferior to any other accounts I've used in the past. To get any data into Quicken, I have to open the website and use the transactions there to figure out what actually happened. It is many times not even clear on the website. I then enter the correct transaction and delete the downloaded one. It is a mess.
I also have issues with other vanguard brokerage functions--order status doesn't give any information about previous orders for example, which makes it impossible to see if they did what I asked, but that is not quicken related. Vanguard is great for mutual funds, but since I transferred my brokerage account a few months ago, I'm less than impressed.
Doug
Reply to
desplin
About a year ago, they took over their own clearing functions (I think after Bernie Madoff, I'm not so thrilled with that since now it's the same company, but that's another story) from Pershing. Pershing used to have it correct in that any downloads and subsequent (and immediate) dividend reinvestments were handled quickly by Q. But that's been 'broken' now since at least August when I made my first of about four calls to them to find out when this is going to be fixed.
I didn't get a chance to call them on Tuesday, will try today (Wed).
Reply to
Andrew
FWIW, I did speak with Vanguard yesterday, and now they tell me that they do not have an estimated time for the fix (this problem ticket is now 5 months old). Time to start writing letters and escalating within Vanguard.
Reply to
Andrew
Letter in the mail to Vanguard asking for a fix explaining I can't trust their data of my monies if they can't get their own downloads straight to me. We'll see if that gets any attention.
Reply to
Andrew
On 1/22, I did receive a personal US snail-mail note back from Vanguard (A Mr. Damian Pizzo, Mgr. of Vanguard Web Technical Services) explaining they're aware of the "outstanding issue" and that "numerous resources are concentrated on resolving this matter". But he could not tell me when it will be resolved. He referred me to a technical leader that is aware of this matter, and I will be contacting that gentlemen (Andrew Vaskas) shortly.
--------------------------------------------------------- Regards -
- Andrew
Reply to
Andrew

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