Investment Account Holdings page is missing my Cash Holdings (edited)

MikeOnTheRoad
MikeOnTheRoad Member
edited May 4 in Investments
'Investment Account' totals displayed on the 'Dashboard' are greater than the 'Total Value' amount displayed at the top of each 'Investment Holdings' page.  The difference in the two numbers is the uninvested cash held within the investment account.

Simplifi is defining 'Total Value' as investment holdings minus cash.  When I go to the 'Investment Holdings' page and view 'Total Value' (at the top of the page) I would expect to see... the Total Value of all the holdings in that account plus any uninvested cash.

1) Can the cash amount be displayed as a line-item on the 'Investment Account Holdings' page.
2) Can the Total Value displayed at the top of the 'Account Holdings' page reflect all Account Holdings plus Cash?

Disclaimer -- I don't know if this is an one-off issue specific to my Simplifi user experience and the way my Investment Bank is connecting to my Simplifi account or perhaps my expectation of how Simplifi defines Total Value. :) 

Comments

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @MikeOnTheRoad,

    Thank you for taking the time to post your inquiries regarding Investments to the Community!

    To clarify, the balance shown for Investment Accounts in the Accounts List on connected accounts is provided by your financial institution, and the balance displayed for your Investment Accounts in the Investments tab is based on your current holdings with the latest prices. More details on this can be found here

    Although what you're seeing may have something to do with your specific financial institution and the way that Simplifi connects to it, it sounds like the Investments page would not include "Cash" holdings, unless you're seeing Cash displayed there. With my Robinhood account, the way that Simplifi connects with them is I have an Investment Account with all of my holdings, and a separate Cash Management account that's treated as an "Other Banking" type that shows my Cash holdings. Is it possible that you have this type of setup in Simplifi as well?

    Also, in the Accounts List, are you seeing a correct balance displayed for the account(s) in question? If so, I'd say that this could definitely be more of a Feature Request that other Users can vote on, so please let me know! :smiley:

    -Coach Natalie
  • Hello Coach Natalie,
    Thank you for your response, and your recommendations.  I made some inquiries over the weekend and this is what I learned concerning my Raymond James Investment accounts (aka RJ).

    Liquid funds (which I will refer to as cash) are held in each separate investment account using the RJ Bank Deposit program.  Per my RJ Financial Planner there are no separate account numbers.  When I connect to RJ using my login credentials and request a download, all holdings including cash are downloaded. Cash in the RJ Bank Deposit program shows up as a separate line item below the holdings.

    Since cash is not reported on the investment account Holdings page in Simplifi I have to do the quick calculation I mentioned in my OP to verify the cash held in each account.

    Now that I am retired decisions about my monthly budget require knowing exactly how much cash is in those accounts.  Using Simplifi I can plan my monthly budget and do future forecasting then I can make decisions to reinvesting some of the cash.  In my Simplifi use-case understanding the cash holdings in my investment accounts is not just "nice to have" it really is quite "necessary".

    I am currently in 30 day test phase of Simplifi.  My overall impression of Simplifi is very positive.  Once I navigated the initial learning curve, viewed some of the videos, and referenced the help files and Community Group, I'm finding Simplifi quite easy to use.  I especially like the clean layout UI.  It provides "most" everything I need and nothing I don't. 

    -- MikeOnTheRoad 
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    edited May 3
    Hello @MikeOnTheRoad,

    Thanks for checking into all of this and posting back!

    After researching a bit further, I'm going to change my tune on this one -- I would expect that Cash holdings would display as a line item in the Investments tab if they are a part of your account holdings, just like Simplifi does for manual investing accounts:


    If you're missing this in your investing drill-down, I think that we should definitely take a look at escalating it. To do so, I would need the name of the account in question as it appears in Simplifi, as well as the balance displayed in Simplifi for the account (both in the Investments tab and in the Accounts List), and the balance displayed at the bank's website. Also, if you have a screenshot of the holdings info displayed in Simplifi, as well as a screenshot of the holdings displayed at the bank's website (showing the cash), those would be great to have as well. 

    With that being said, I have gone ahead and emailed you a link to our Secure File Exchange so that you can upload the screenshots to me there, and I look forward to hearing back from you on the rest. Please let me know if you have any questions, and please also let me know once the images are uploaded! :smile:

    -Coach Natalie
  • Thank you Coach Natalie for your research and for creating a ticket to investigate/escalate this issue. I have uploaded the screenshots as you requested. Additionally, I uploaded a note with contact information and an explanation about my potential inability to respond over the next few days.  Simplifi is a tool that I enjoy using and I am excited (in a small way) to participate in it's development. 
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @MikeOnTheRoad,

    Thanks so much for uploading the screenshots!

    It does look like you have quite a few holdings in each of your accounts, but I'm only seeing the top 3 in the images from the Investments tab in Simplifi -- is there any way that you could upload screenshots of all of the holdings displayed for each account in Simplifi? That way we can see that the line item for the Cash holdings is missing. 

    Also, just so you know what to expect, I will be the one working with you on this, and it will be directly from the Community here. It's okay if you're delayed in responding to me while traveling, absolutely no worries there! 

    Please let me know once those new screenshots are uploaded and I'll get this sent up. Otherwise, I hope you have safe travels! :blush:

    -Coach Natalie
  • Hi Coach Natalie,
    I have the files you requested ready for upload.  Can you please send me a new temporary PIN to access the Quicken secure file transfer page.

    Because there are quite a few holdings in each account (more than can fit in a browser window for a screenshot), and because Simplifi does provide a way to create a account holdings report or download a CSV from each account holdings page I had to go to Quicken Deluxe on my Mac to view each investment account and create a report which I then exported to a PDF.

    Retirement has greatly simplified the financial aspect of my life and I have found full versions of Quicken are now more than I need, I am hopeful Simplifi can fill the void.

    Let me know what else you need.

    -- MikeOnTheRoad


  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    edited May 10
    Hello @MikeOnTheRoad,

    Thanks for getting back to me!

    I will definitely send you a fresh link and PIN, however, I do need to see the holdings data from Simplifi specifically so that I can show my Product Team that there is no line item for your Cash holdings. That way they can get a full picture of what's going on, and see that it's also causing an additional issue with the balance being off.

    I apologize that there's no easy way to gather this information due to the lack of an export option, etc., and I appreciate your resourcefulness with utilizing Quicken to capture the data; I also realize that it may take several screenshots to cover each account's holdings in Simplifi, but that is perfectly ok. If you could just name the files with the name of the account, I'll know what screenshot belongs where. For example, you can name them "Roth IRA Holdings 1", "Roth IRA Holdings 2", "Roth IRA Holdings 3", etc., and do that for each account.

    Please let me know if you have any questions, or once the requested screenshots have been uploaded -- new link sent! :blush:

    -Coach Natalie
  • Hi Coach Natalie,
    Thank you for the new link and PIN.  I've uploaded the files as requested.

    Let me know if there is anything else you need.  ;)

    -- MikeOnTheRoad
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @MikeOnTheRoad,

    Thanks so much for gathering these screenshots and uploading them -- these are perfect!

    After going through and organizing everything, I think the only thing that would be good to have at this point is a fresh screenshot of the balances displayed for the accounts on Raymond James' website, as the file I currently have is now a bit outdated compared to the Dashboard balances displayed in Simplifi.

    You should be able to use the same link and PIN to upload this last image, but please let me know if you run into any issues and/or once uploaded.

    Thanks in advance! :smiley:

    -Coach Natalie
  • Hello Coach Natalie,
    Investment balances from the Raymond James dashboard are uploaded.  B)

    Regards,
    -- MikeOnTheRoad 
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    edited May 12
    Hello @MikeOnTheRoad,

    Yay, thanks so much!

    I have gone ahead and gotten this reported, and will be sure to post back as soon as I receive an update. Hopefully our Product Team determines that this is a bug, as opposed to being by design, so that we can get a fix pushed to you a lot sooner. :smile:

    -Coach Natalie

    CTP-2124
  • Hello Coach Natalie,
    Thank you for championing this issue.  I look forward to your update of the Product Team's findings, (and hopefully) resolution.  :)

    Regards,
    MikeOnTheRoad

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @MikeOnTheRoad,

    Thanks for your patience while this was being researched!

    I've received an update from my Product Team, and it sounds like this is due to how Raymond James is treating your cash holdings -- they're actually depositing them into other various financial institutions to gain interest. You may have some other options with Raymond James that would change how they treat your cash holdings, but we have also submitted for a script change on our end, to see if we can't get the holdings that are dispersed elsewhere to show in Simplifi.

    In the meantime, I apologize that we don't have a solution for you. Hopefully you can get this handled with Raymond James, and also that the future script change resolves this type of situation down the road.

    Please let me know if there's anything further that I or the Community may assist with! :smile:

    -Coach Natalie
  • Hello Coach Natalie,
    My options with RJ would require a solution that would create a small cascade of additional issues (and possible tax implications) that would need to be addressed within my RJ accounts.  After considering those options I decided that it would not be in my best interest to rock that boat.

    My Simplifi trial period ends on May 25 and I have decided to stay with my current financial software.  I will circle back with Simplifi when my current financial product subscription is up for renewal.

    I think Simplifi is a great product and has a bright future ahead of it.  Thank you for all your efforts and persistence to address the issue.  I especially appreciated your timely communications.  ;)

    Warm Regards
    MikeOnTheRoad 

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file