"Ron Rosenfeld" <ronrosenfeld[at]nospam.org> wrote in message newsnov60dggrkllb6f00q2u79r9ht0g6qbbi[at]4ax.com...
| On Fri, 02 Apr 2004 08:17:40 +0100, Rob Schneider
| <rmschne[at]removetheones_b1e1e1b.net.net> wrote:
|
| > Email from Fidelity today (in response to my query as I've noticed the
| > same thing) says:
| | > "We are aware that customers are getting a download of FCASH that is
| > distorting their balance. We are working to correct this matter and
| > hope to have it resolved in three to four weeks. We appreciate your
| > patience in the meantime."
| | > Hope this is useful to you. Let us know.
| | > rms
|
| I find it interesting that this same issue occurred a few years ago. It
| persisted for a few months, and was eventually changed.
|
|
| --ron

Just to update this ongoing problem with Fidelity downloads a reply to my most recent inquiry:
Quoted below:

"I apologize for the time it is taking to get this resolved. I can assure you that we are working on it. However, I am not able to get you a time frame when this will be resolved.

I will relay your dissatisfaction with this issue to upper management.

If you have any other questions or comments, please send us another message at any time. We appreciate your business.

Dave Shah
Fidelity Brokerage Services LLC, Member NYSE, SIPC




Your reference ID for this message is (xxxxxxxxxxxxxxxxxxxxxxxx)

[xxxxxxxxxxxxxxxxxxxxxxxxx]
------------------------------------------------ Original Message:

It has now been about 6 weeks since I received the reply below.
Is anyone still working on it?

Above referenced reply below trimmed for brevity!

On Fri, 02 Apr 2004 08:17:40 +0100, Rob Schneider
<rmschne[at]removetheones_b1e1e1b.net.net> wrote:

- quote -

I find it interesting that this same issue occurred a few years ago. It
persisted for a few months, and was eventually changed.


--ron

Logged into my Fidelity account, and used "contact us" button. Fidelity
will "talk" with you via this email since it's a secure connection with
them.

Hope this is useful to you. Let us know.

rms




GaryM wrote:
- quote -

| Do you happen to have the email address you sent the query to? I'd like
| to add my voice to what I hope is a lot of others complainig about
| this. I just spent 1/2 hour fixing all my accounts. I disabled the
| online statements service till it works!
|

Here is one way: customer.email[at]fidelity.com

You can also log into your account on the web, Click on "Customer Service",
then on "Send us Email" link.

Another way is to just call them.

I have done all the above and still they have not fixed the download into
Money problem.

Rob Schneider <rmschne[at]removetheones_b1e1e1b.net.net> wrote in
news:ekIRZKIGEHA.3080[at]tk2msftngp13.phx.gbl:

- quote -

Do you happen to have the email address you sent the query to? I'd like
to add my voice to what I hope is a lot of others complainig about
this. I just spent 1/2 hour fixing all my accounts. I disabled the
online statements service till it works!

Someone made a change that had unintended consequences. Integration
with Money not probably their highest priority. Surely, they also have
procedures they must go through to fix/test any changes to minimise
(eliminate as much as possible) unintended consequences.

Hope this is useful to you. Let us know.

rms




Howard wrote:
- quote -

Which is sort of funny as an answer since everything worked until four
weeks ago.

On Fri, 02 Apr 2004 08:17:40 +0100, Rob Schneider
<rmschne[at]removetheones_b1e1e1b.net.net> wrote:

- quote -

Email from Fidelity today (in response to my query as I've noticed the
same thing) says:

"We are aware that customers are getting a download of FCASH that is
distorting their balance. We are working to correct this matter and
hope to have it resolved in three to four weeks. We appreciate your
patience in the meantime."

Hope this is useful to you. Let us know.

rms



Cal Learner-- MVP wrote:
- quote -

In microsoft.public.money, L'l John wrote:

- quote -

I confused your post with one that was looking for the best way to
handle it vs one who was bemoaning the situation. I try to be alert
for such distinctions, but I don't always read things right.

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:ct0p60hg3qmgo9kh15jl43sblrt0q76mp1[at]4ax.com...
| In microsoft.public.money, L'l John wrote:
|
| > I cannot see how using your suggested fix will help this problem.
Fidelity
| > is going to have to stop sending bogus information about creating a
Mutual
| > Fund
| > called FCASH, when I have been using an associated cash account with my
| > Brokerage account for years.
|
| If you define the problem that way, anything I say would be
| irrelevant.
|

Cal,
I guess I don't understand your remark. I tried my best to define the
problem the way it is. Three different Fidelity reps agrees with me that is
the way it is. They just haven't corrected it yet.

In microsoft.public.money, L'l John wrote:

- quote -

If you define the problem that way, anything I say would be
irrelevant.

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:ehjo6055nr2fdgik8gth4da6cl3mh6gg6m[at]4ax.com...
| In microsoft.public.money, Dave wrote:
|
| > I am new to MS Money, or any personal finacial software,
| > but need a pointer. I have installed the trial version of
| > MSM2004 and am trying to get the accounts organized. I
| > have reconciled all the accounts and all the cash balances
| > of the Savings, Checking, Credit Cards, and line of
| > credit. The brokerage Cash register is balanced, but it
| > shows up twice in the account thus increasing the
| > brokerage assets by twice the Cash balance. The brokerage
| > account shows cash as a money market fund appear as a
| > mutual find owned in the account. Then I also have a
| > brokerage cash account that has a ledger both balances
| > match and are correct but only one of the entries are
| > needed. what is the best way to resolve this issue?
|
| Note addition near bottom starting with "****".
|
| Let me see if what I describe is what you see:
|
| You get transactions downloaded that include such things as
| dividends. But there is no Buy transaction downloaded for the Money
| Market Fund. When you download, Money gives you a pop-up during the
| process that says "The positions reported on nn/nn/nn statement
| don't match those in you Money account. Do you want to update your
| account to match the statement?".
|
| The default is "Yes, update my positions as indicated below." You do
| not change the selection to "No, do not update my account," So you
| get an AddShares for the MMF and, depending on you settings, may
| have an "Positions adjusted to match statement" Memo field.
|
| One way to handle this, while Fidelity gets things adjusted, is to
| change the Money-generated AddShares transaction into a Buy.
| Similarly you would change a similar RemoveShares into a Sell of the
| MMF. You may have to make an initial modification to get things up
| to date.
|
| ****What I think is a better way is this:
|
| Change each downloaded Dividend transaction for the Cash Reserves
| MMF into a ReinvestDividend Transaction. Void each Money-generated
| AddShares or RemoveShares transaction.
|
| An easy way to get to all of the transactions for your MMF is to go
| to the Investment Details for that security, and click
| InvestmentTransactions. That way you get all of the transactions in
| a single spot, and you can make your changes there.
|
|
| Then generate a single AddShares if needed to adjust things by
| AccountList-> GetOnlineStatements-> ViewDownloadedBalances Select your
| Fidelity account and get the "Review Investment Holdings" screen. If
| you have a Next button, click it, and let Money adjust the positions
| with a single AddShares transaction. It is possible that no
| adjustment will be needed.
|
| Thereafter, when you download a Dividend for the MMF at the end of
| each month, do not have money update the account. Instead change
| that transaction to a ReinvestDividend. Fidelity's action item would
| be to send the ReinvestDividend instead of the Dividend, or to
| alternately generated explicit Buy transactions for the MMF.
|
|

This problem with Fidelity started over a month ago. I have communicated the
problem with them on 3 occasions.
In my case, I have a cash account associated to the Brokerage account which
purchases, sales, dividends, & capitol gains are accounted through. Also
Fidelity bill pays come from the associated cash account.
All the downloads from Fidelity concerning items that use the associated
cash account are accounted for within the cash account. Then, an amount
equal to the balance in the associated cash account is downloaded at the
same time into a Mutual Fund called FCASH with a symbol of "FCASH". That
makes the total worth balance off by showing double the amount in the
associated cash account.
I cannot see how using your suggested fix will help this problem. Fidelity
is going to have to stop sending bogus information about creating a Mutual
Fund
called FCASH, when I have been using an associated cash account with my
Brokerage account for years.
Thanks,
John

In microsoft.public.money, Dave wrote:

- quote -

Note addition near bottom starting with "****".

Let me see if what I describe is what you see:

You get transactions downloaded that include such things as
dividends. But there is no Buy transaction downloaded for the Money
Market Fund. When you download, Money gives you a pop-up during the
process that says "The positions reported on nn/nn/nn statement
don't match those in you Money account. Do you want to update your
account to match the statement?".

The default is "Yes, update my positions as indicated below." You do
not change the selection to "No, do not update my account," So you
get an AddShares for the MMF and, depending on you settings, may
have an "Positions adjusted to match statement" Memo field.

One way to handle this, while Fidelity gets things adjusted, is to
change the Money-generated AddShares transaction into a Buy.
Similarly you would change a similar RemoveShares into a Sell of the
MMF. You may have to make an initial modification to get things up
to date.

****What I think is a better way is this:

Change each downloaded Dividend transaction for the Cash Reserves
MMF into a ReinvestDividend Transaction. Void each Money-generated
AddShares or RemoveShares transaction.

An easy way to get to all of the transactions for your MMF is to go
to the Investment Details for that security, and click
InvestmentTransactions. That way you get all of the transactions in
a single spot, and you can make your changes there.


Then generate a single AddShares if needed to adjust things by
AccountList-> GetOnlineStatements-> ViewDownloadedBalances Select your
Fidelity account and get the "Review Investment Holdings" screen. If
you have a Next button, click it, and let Money adjust the positions
with a single AddShares transaction. It is possible that no
adjustment will be needed.

Thereafter, when you download a Dividend for the MMF at the end of
each month, do not have money update the account. Instead change
that transaction to a ReinvestDividend. Fidelity's action item would
be to send the ReinvestDividend instead of the Dividend, or to
alternately generated explicit Buy transactions for the MMF.