Transfer to a New Brokerage (Investment) Account

Hey All,

I am in the process of moving all of my accounts from a small private firm
to Fidelity. Obviously the small guys don't do on-line anything, so I have
been entering stuff for years on my own. How do I go about transferring
everything into the new Fidelity accounts since it uses on-line updates
without losing my historical data; basically, I don't want my capital gains
report to get messed up by using the "Transfer Account" function. Any ideas?

-David

via_newsgroup
Fri Jul 01 13:04:42 CDT 2005

In microsoft.public.money, "David Brenner" <David
Brenner@discussions.microsoft.com> wrote:

>Hey All,
>
>I am in the process of moving all of my accounts from a small private firm
>to Fidelity. Obviously the small guys don't do on-line anything, so I have
>been entering stuff for years on my own. How do I go about transferring
>everything into the new Fidelity accounts since it uses on-line updates
>without losing my historical data; basically, I don't want my capital gains
>report to get messed up by using the "Transfer Account" function. Any ideas?

There is more than one way. If you want the data for each investment
to continue from its first acquisition, it is easiest to got to the
details for the existing account. Rename the account, and change the
Financial Institution.

Alternatively you can close the account, and Money will ask you if
the contents get transferred somewhere. I think that produces a
discontinuity in the performance reporting of the investments, so I
would prefer the first way.

Make a copy of your file and/or an extra backup file whenever you do
something significant to your accounts.

It is always a good time to review your backup strategy anyway.

Dick
Fri Jul 01 15:41:17 CDT 2005

Transfer Shares is what underlies the close accounts/transfer contents
strategy? I thought the whole reason for Transfer Shares was to do exactly
this type of thing WITHOUT hosing lots/gains/performance?

"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
news:r41bc1tm88oajlslng5tdqod38mdds9c84@4ax.com...
> Alternatively you can close the account, and Money will ask you if
> the contents get transferred somewhere. I think that produces a
> discontinuity in the performance reporting of the investments, so I
> would prefer the first way.

via_newsgroup
Fri Jul 01 18:48:47 CDT 2005

In microsoft.public.money, Dick Watson wrote:

>Transfer Shares is what underlies the close accounts/transfer contents
>strategy? I thought the whole reason for Transfer Shares was to do exactly
>this type of thing WITHOUT hosing lots/gains/performance?

Newer versions maintain the basis, but I am thinking that the ROI
calculations may start over.

Renaming the account is simple and works well with all versions.

>
>"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
>news:r41bc1tm88oajlslng5tdqod38mdds9c84@4ax.com...
>> Alternatively you can close the account, and Money will ask you if
>> the contents get transferred somewhere. I think that produces a
>> discontinuity in the performance reporting of the investments, so I
>> would prefer the first way.
>

David
Fri Jul 01 22:55:16 CDT 2005

One question then...

What do I do with the inevitable "Add Shares" that will get downloaded the
first time I link the accounts to Fidelity's online service? In the past I
had the problem where if I deleted this type of transaction each time I
updated it would re-download. Let me know what you think.

-David

"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
news:nglbc19r6r2qnqm1p9i5hsl6aj1hb17pdr@4ax.com...
> In microsoft.public.money, Dick Watson wrote:
>
>>Transfer Shares is what underlies the close accounts/transfer contents
>>strategy? I thought the whole reason for Transfer Shares was to do exactly
>>this type of thing WITHOUT hosing lots/gains/performance?
>
> Newer versions maintain the basis, but I am thinking that the ROI
> calculations may start over.
>
> Renaming the account is simple and works well with all versions.
>
>>
>>"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
>>news:r41bc1tm88oajlslng5tdqod38mdds9c84@4ax.com...
>>> Alternatively you can close the account, and Money will ask you if
>>> the contents get transferred somewhere. I think that produces a
>>> discontinuity in the performance reporting of the investments, so I
>>> would prefer the first way.
>>
>

via_newsgroup
Sat Jul 02 09:10:22 CDT 2005

In microsoft.public.money, David wrote:

>One question then...
>
>What do I do with the inevitable "Add Shares" that will get downloaded the
>first time I link the accounts to Fidelity's online service? In the past I
>had the problem where if I deleted this type of transaction each time I
>updated it would re-download. Let me know what you think.

What version of MS Money are you running? If it is Money 2005, there
might be a step where you have to "merge" accounts.

You rename the account and set the FI to Fidelity Investments.

You set up a PIN that works on the Fidelity website.

You set up for statement download, and you download.

I would be sure to define each Money Market fund to Money in advance
rather than just saying it is a new investment that you don't
already have a name for. The problem you avoid that way, is that
Money seems to set that MMF up as a mutual fund. So pre-define a
MMF.

What will be important is that as each investment that you already
hold is encountered, you identify to Money that you already
represent that security under another name. Be careful during this
process, since Money will remember that.

You expect to get AddShares transactions. Let's say you do, although
I am not sure you will.

If the AddShares was what Fidelity sent out when you transferred
securities the account, I would Void each of them. Your original
balance of shares should have the number of shares correct. I would
expect that to be a one-time event.

The handling of the cash or swept funds may take some action. If you
have a sweep MMF that you download Dividend transactions for, you
may need to turn that monthly transaction into a ReinvestDividend.
That is the only thing I have encountered myself; no bogus
AddShares.

So keep that extra copy of your file. Don't worry about what *could*
happen, other than to know that you could undo it with File->Restore
or by copying over the .mny file with Money closed. I expect it to
go more smoothly than you expect.










>
>-David
>
>"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
>news:nglbc19r6r2qnqm1p9i5hsl6aj1hb17pdr@4ax.com...
>> In microsoft.public.money, Dick Watson wrote:
>>
>>>Transfer Shares is what underlies the close accounts/transfer contents
>>>strategy? I thought the whole reason for Transfer Shares was to do exactly
>>>this type of thing WITHOUT hosing lots/gains/performance?
>>
>> Newer versions maintain the basis, but I am thinking that the ROI
>> calculations may start over.
>>
>> Renaming the account is simple and works well with all versions.
>>
>>>
>>>"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
>>>news:r41bc1tm88oajlslng5tdqod38mdds9c84@4ax.com...
>>>> Alternatively you can close the account, and Money will ask you if
>>>> the contents get transferred somewhere. I think that produces a
>>>> discontinuity in the performance reporting of the investments, so I
>>>> would prefer the first way.
>>>
>>
>