[RESOLVED] Incorrect Pricing for Money Market Accounts.

Coach Paco
Coach Paco Moderator admin
edited May 2020 in Archived Posts

We have discovered an issue with our financial partner. Our financial partner is sending us incorrect pricing. We're working with them to correct this issue as quickly as possible, but until they discover the root cause, we won't have an ETA as to when this will be resolved.

We appreciate your patience. To be automatically notified once we've resolved this issue, please "bookmark" this Alert by clicking the Yellow Star Icon in the upper right corner.

Thank you.

Comments

  • Why do the values for money market accounts incorrectly report value and price? I think this is an ongoing problem. The price always reports well in excess of $1, usually nearly twice that amount. I assume this is why the value is so out of whack.

  • Coach Paco
    Coach Paco Moderator admin

    @charliescarface We can only guarantee the balance of investment accounts. For values and prices for securities, we cannot guarantee that information.

  • That answer makes no sense. Simplifi's job is to collect my financial information from around the web and put it in one place. It's not doing that. Why can't you guarantee that's what it's doing? I paid for it to do it. There's got to be more to it than your response reveals. When there's $100,000 in my money market account and Simplifi tells me I have $191,000, there's a problem.

  • Coach Paco
    Coach Paco Moderator admin

    @charliescarface We had our development team take a look at it and it is an issue it looks like and they are taking a look at that. Sorry about that.

  • Thank you. I looked again this morning and in each of my investments that contain money market funds, the value is $1.91/share instead of $1.00. This really skews the true overall value.

  • Still showing $1.91 a share instead of $1. How?

  • For months mine and other user's Money Market values have been reporting incorrect values. It's been indicated that this has been reported to the software engineers (starting in January), yet the problem persists. What's the hard part about getting my money market funds to report at $1/share instead of $1.99/share? Again, pretty useless if the gross value of my investment in the wrong amount.
  • April 6 - Simplifi still reporting my money market accounts at $1.91 instead of $1. The value of those investments which included market funds remains inaccurate.
  • Coach Nicole
    Coach Nicole Administrator, Moderator admin

    Hi @charliescarface -- I'm so sorry for the delay. Sadly, we are still working to resolve this issue, but I want to assure you that as soon as we have an update, we'll post on this thread. We appreciate your patience while we work to resolve this issue. Thank you!

  • Coach Nicole
    Coach Nicole Administrator, Moderator admin

    Hi @charliescarface -- Thank you so much for taking the time to share your feedback, and I'm so sorry for any inconvenience this has caused you. We have reported this to our software engineers and they've working to resolve this issue. As soon as we have an update, we'll be sure to let you know! Thank you

  • Coach Nicole - Really? Since January?
  • Progress? My financial tracking site (Simplifi) does not track my finances! The values of every account that contain money market funds (all of them) are wrong. What explains this long-standing error and Simplifis inability to fix the error?
  • Last comment from Administrator - April 6. Today is April 17. This seemingly simple problem has yet to be fixed. January. February. March. April.
  • No change. My Vanguard MM is at $1.91 instead of $1.00 and my Employee Fiduciary is at $1.99 instead of $1.00.
  • No change. My Vanguard MM is at $1.91 instead of $1.00 and my Employee Fiduciary is at $1.99 instead of $1.00.
  • Coach Paco
    Coach Paco Moderator admin

    @charliescarface we’ve discovered the issue is that our financial partner is sending incorrect pricing. We’re working with them to correct this issue as quickly as possible, but until they discover the root cause, we won’t have an eta as to when this will be fixed.

  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭
    edited May 2020

    @charliescarface I wanted to let you know that our tech support team believes they have resolved this issue. I'm going to reopen this discussion, and I'd appreciate it it you could post a message here letting us know it you are now showing correct pricing for these accounts. Thanks for your patience as we have been looking into this.

  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭

    @charliescarface Hello again! This is a follow-up message to ask you if you are now seeing correct prices for your money market accounts as a result of the fixes we implemented. Please let us know if you continue to have problems. Thanks!

This discussion has been closed.