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My Wells Fargo CD in my Morgan Stanley IRA is being handled incorrectly (edited)

juddmd31

20+ years Quicken Classic user, just started my Simplifi subscription last week, so I'm working out the kinks. My Wells Fargo CD in my Morgan Stanley IRA is being handled incorrectly. It is calling it a cash account and says I have 20,000 shares, which is giving a market value of just under $2 million. If only that were true. It should be 200 shares with a value of just under $20,000. For reference, I'm running Classic in parallel with Simplifi for the time being, and it is correct in Classic. Please advise.

[Edited - Readability]

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Coach Aldair

Hi @juddmd31,

Thanks for bringing this to our attention, and I’m sorry for the trouble here. I can understand the concern when the CD is being reflected as cash with 20,000 shares and a value of nearly $2 million.

Since you mentioned that the account is displaying correctly in Quicken Classic, could you please provide a screenshot of how the Wells Fargo CD is being displayed in Quicken Simplifi? so we can better understand how Simplifi is interpreting it. Remember to cover any type of sensitive information.

We just need to have a better idea of what may be happening.

Thanks again!

juddmd31

Please see the snip.

juddmd31

This one's easier to read.

Mike Judd

Coach Aldair

Hi @juddmd31,

Thanks for the additional details and screenshot. I can see how the 20,000 shares being reported for the CD would result in such an inflated market value.

Since this is a connected Morgan Stanley investment account, I’d recommend trying the following troubleshooting steps first:

Refresh the Morgan Stanley account in Quicken Simplifi to make sure the latest holdings information is being downloaded.
Make sure both the Quicken Simplifi and your device's operating system (Parallels in this case) are fully up to date.
Check the Holdings section of the Morgan Stanley account to see whether the CD is still being identified as a Cash security with 20,000 shares.
Do you have any other account from this financial institution that is not providing accurate information?

If the issue persists after these steps, please provide a screenshot showing the CD/security details. That would help us determine whether the incorrect share quantity is coming from the data being received from Morgan Stanley or how Simplifi is interpreting that data.

Thanks

juddmd31

Everything else is ok. Morgan Stanley is using a quantity of 20,000.000, which I think Simplifi is misinterpreting as 20,000.000 shares, which isn't correct. A unit is actually 200 shares. I've seen this before in Classic, but I was able to edit that. It doesn't look like Simplifi will let me edit.

[Edited - Removed Personal Information]

Coach Kristina

Thank you for your reply,

Since refreshing the account did not correct the issue, please try making the account manual and relinking it in Quicken Simplifi. To make the account manual, please follow these steps from our article on making accounts manual:

Switch a Connected Account to Manual

Click the Settings (gear) icon in the upper-right corner.
Select Accounts.
Locate the individual account you want to convert to a manual account.
Click the three-dot menu next to the account.
Select Make Manual.
Click Make Manual again to confirm.

Make+a+manual+account+.gif?expires=1786827600&signature=ea5ad90d5768b25126c40a07ed4190497b6437a772d2bb833ea4df9f9d79a3fe&req=diYnH8h5lIVWUfMW1HO4zeLHhX24obt0MW7RKWTV0MDRFgNPpriWdoalmdZH%0ApDMpQjFc6qsOdkeELkU%3D%0A

Once the conversion is complete, the account will appear in the Manual Accounts section.

To add and link the account, please follow these steps from our article on adding accounts and our article on linking accounts:

Adding a Connected Account

From the Dashboard, click + New next to the Account List.
Search for your financial institution and select it.
Review the consent message and click Continue.
Enter your financial institution credentials and click Connect.
Review the accounts found. For each account, Quicken Simplifi displays:
1. Account Name
2. Account Type
3. The action Quicken Simplifi will take for that account.
Open the Action drop-down menu and select the existing account you want to link to the account found at the financial institution.
1. Important: If you leave Action set to Add as New (No Link), Quicken Simplifi will create a duplicate account.
Ignore accounts you don't want to add
If there's an account you don't want to connect, uncheck the box next to it.

Add-Link-Ignore.gif?expires=1786827600&signature=4959600fdb481bb4f6cef6c2fd1ef7dad2cb6508cfb8acbd24313ca33c8822e3&req=diUmEc9%2Bm4lZUPMW1HO4zaBGNvxPUtOzkNkwXhYWGLHb5F9mursDiKm13QYm%0A619MsD7v3RE%2FzwGI1jE%3D%0A

Please let me know how it goes!

juddmd31

OK. In between making it manual and reconnecting and linking, I fixed the holding. When I reconnected, the fix stuck!

Thanks,

Mike

RobI

This is the 3rd or 4th instance of this change in behavior in recent days - mine was at Vanguard and another reported from Fidelity. @Coach Natalie has replied to the this in separate threads.

Makes me think something more fundamental changed in the way holdings units are being updated across brokerages. I used manual account as a workaround to correct the unit holdings, but this now means my bonds are not updating their value automatically which is annoying