Manually updating investments while team resolves issues

Question

How practical is it to manually update accounts while they are experiencing connectivity problems that are being worked on? I saw this advice given by one of the coaches in a discussion, but they gave a link to the manual investment docs that didn’t really discuss temporarily doing manual updates. Is there documentation for doing this to a connected account while we’re waiting for the issue to be resolved? Or would it be easier to temporarily open a manual account in order to put an adjustment so our account totals and net worth can be approximately correct?

Since maintaining connections to all major financial institutions is difficult and there will likely  always be a few  with issues, it would be nice if there were manual workarounds for use during those times.

Thanks for any advice.

SRC54 · Accepted Answer

Hi,

If you mean entering dividends, buys, sells, reinvestments in your Investment account, sure you can just add them manually.  Simplifi will ignore them anyhow.  They are just for your records.

I think for updating your holdings, there is nothing you can do to fix that as long as it is a connected account. It's frozen until you get a refreshed download.

You could create a manual account to add the new holdings you now have gotten since you lost connectivity.  This would help you keep up with your net worth.  This would be something you would later delete once you have connectivity again.

The third option would be to take the account manual, and then you can edit it as you see fit and change your holdings.  You could later reconnect this account and Simplifi would, I think, overwrite your holdings with the downloaded ones.

This is some food for thought.  It's been a while since I had a manual investment account in Simplifi, and I don't want to tell you blithely to do it.  I once took my Fidelity Investment Accounts manual to edit them and then reconnected them.  It was fine, but I held my breath thinking I might lose data., which is always possible.  Of course, you can always recreate it.  So it comes down to you.

By the way, how long have you've been without connectivity?  I assume you've tried everything to reconnect and you know that this is a known issue?

SRC54 · Accepted Answer

I went back and read your thread about your SEI Investments problems that has been going on a long time (starting in late winter).  I see also as you mention that you are awaiting a fix for the issue. The only thing I can think to add is this.  When you last made your investment account manual, did you try adding it as a brand new account (not linking it) to see if that would force a correct download of holdings?

Even if it doesn't work, you still have the manual account and you could just delete the new one.  Then you could edit your holdings in the manual account and wait until the issue is fixed to connect it in the future.

Good luck to you.  I hope you get a resolution soon.