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SoFi Brokerage & IRA Account Balances

MikeZ

This is more of an info post for any future tickets or issues. And this may well affect some or many other brokerages.

I posted a ticket back on Oct 21st about Simplifi balances for SoFi not matching with SoFi.

I think I found the issue: SoFi balances use pre and post market share prices for most of the holdings. The extended hour prices are often 0.5% or more higher or lower than closing.

Anyway, I just wanted to pass this along to you.

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Comments

Coach Jon

Hello @MikeZ,

Thanks for reaching out and providing that information! I did look over the previous post you mentioned here. I can see that we discussed that the balance between the Account List and the Investments tab is different, and why that is set up that way in Quicken Simplifi. It looks like we were also discussing an issue regarding the balances themselves not updating with these accounts for several days. Is that issue still occurring, and do you wish to continue troubleshooting? Let us know!

-Coach Jon

MikeZ

No thanks, I still believe Simplifi is doing investment tracking improperly. I just wanted you and others to know that SoFi uses closing prices sometimes and extended hours prices sometimes. This may account for what appears to be wildly different balances than expected for SoFi accounts.

Vanguard, for instance, does not do that.