Quicken Tutorial: How to Set Up Your Brokerage Account!

[@bobsmiley5038]

Excellent! This is just what I was looking for to explain the mess created when I tried to set this up the first time. Complex financials require complex systems for tracking them. Quicken seems to do it well but it requires an understanding of how it’s supposed to work, which they DON’T do well. Thanks so much for this detailed and very clear explanation of this complex feature.

[@PlayLouder]

Im so glad it was helpful Bob. Thx for saying all that!

[@dianesimmons7760]

Do you option trade at all and if so how is Quicken handling importing call and put option transactions? I have quite a mess going on when downloading transactions because Quicken can't find call/put securities. Curious how you are dealing with that.

[@PlayLouder]

Ho Diane. I don't trade options...so I don't have much to say about that topic. Sorry I cant help.

[@sj-kp1ks]

Great video. Very helpful. Did you describe which Quicken version you were using in this example? I use Quicken Premiere for Mac and I'm not seeing the same toolbar you show. I'm looking a portfolio analysis across all my accounts, and you are demonstrating far more detailed analyses that I seem to be able to find.

[@PlayLouder]

I'm always using Quicken Home & Business for Windows. (Though I run it on a Mac using parallels). Until recently, they only offered the "business" version on Windows. But Quicken very recently released a "Business & Personal" version for Mac! They also renamed "Home & Business" on windows as "Business & Personal" as well. Anyway, you should be able to get the same results in the current Mac versions for investing analysis, but admittedly, the interface for the Mac is a little different. I offer one-on-one help if you can't find what you need in my videos. Admittedly, it's a lot to cover, and I only have so much time for KZbin:/ www.playlouder.com/coaching-call-60min/

[@rm3450]

Awesome! Thanks for the video. Was just linking my E*Trade account and this was helpful. Do you do any graph reports for showing investment performance? Was trying to figure out how to create or find a chart showing how portfolio is doing. I probably just have to look more at options in quicken.

[@PlayLouder]

You can pick from some graph options underinvesting/dashbaord.

[@BRTardiff]

Thanks for the great video. I have a question about transferring money into the brokerage account without it showing as an expense… If I’m doing complete tracking, can I do a manual entry from checking to brokerage and then quicken will recognize it as a “match” when I download from the brokerage? This is how I handle credit card accounts. I download all the credit card transactions and Quicken recognizes my payments as matching the manual transfers from checking. Thanks.

[@PlayLouder]

The answer is generally yes. For sure, on your bank account side of the transfer, it will be matched. I use fidelity, and for them, a match will happen on the brokerage side of the transfer as well. However, my guess is that, for some brokerages, it may not work as smoothly, depending on the quality of their connection. But most major "legacy" brokerages like Fidelity, Schwab, Merill, etc will work very smoothly. But Webull, for example, doesn't connect to Quicken, so obviously that would work.

[@BRTardiff]

@@PlayLouder Thanks. I use fidelity as well. I appreciate the response.

[@Zues64]

thanks for the content here. I've been using Quicken for years. I recently opened another brokerage account and want to go with a simple brokerage account setup because the brokerage doesn't allow for a third-party connection to download transactions. When I setup the new simple brokerage account in my Quicken account, all I'm seeing is a dashboard like seen in your video here. I need to enter additional stock positions but can't seem to find how to switch to the register view to enter the entries. Any idea what I'm to do?

[@PlayLouder]

Hi. That's the problem with simple; it doesn't allow for that. You can switch it over to complete, by editing the account.

[@mbkelly569]

Hi Joe! I am just getting started investing in REIT. I am wondering if there is any difference keeping track of these in Home & Business versus Premier?

[@PlayLouder]

Hi there. If you are investing in publicly traded REITs, then either version will be fine. They both allow for connections to most brokerage accounts. And you will be able to download your positions sizes and prices, for an accurate account value.

[@leassiaturner7724]

do you have a tutorial specifically for entering investment CDs? I'm struggling with this.

[@PlayLouder]

I dont. But in my experience CDs are not much different than savings accounts. It's likely you can make a bank connection to it and it will automatically update the interest. If not, you can create an offline savings account, then manually enter the interest quarterly.

[@cherylnaumann5524]

Hi Joe, any tips on getting Prudential Retirement to link with Quicken? There doesn't seem to be an API - I found something online that's supposed to be a "trick" for Prudential specifically but it doesn't work for me. So, my company 401k account is only currently in my Quicken software as a manually-loaded offline account. Thanks!

[@PlayLouder]

Hey Cheryl, so I don't. It's a bummer when accounts don't link. For a few of my clients, with brokerages that don't connect, I just keep the total balance updated manually so their net worth is accurate, but it's not ideal.

[@bill.Latham]

Hello my questions is I set up my brokerage account in quicken manually, but how to I set up the cost basis manually for the shares that I set in quicken. I have quicken classic. Thank You

[@PlayLouder]

Hey Bill. I do my best to answer questions in replies here, but that would be tough as there are a handful of steps to do that, and it also depends on whether you manually entered the info or if the account did a placeholder entry. So, I'll have to ask you to book a call with me for that one. Perhaps you have other questions I can also answer on the call? calendly.com/joedisanto/60min-coaching-call-150 Otherwise, I will put that on my list of Quicken videos to make in the future. If you give me more detail of the steps you took in setting it up, and if these are automatic placeholder transactions, I'll put that video higher in my list.

[@bill.Latham]

I figure it out. Thank You@@PlayLouder

[@bett1293]

I’m new to Quicken; when trying to add my E-Trade brokerage account, I couldn’t. Quicken didn’t have it on their list. Is there a way to add my E-Trade account?

[@PlayLouder]

Etrade should be fine. I have clients that use etrade and they are connected fine. However, etrade was recently bought by Morgan Stanley, so try Morgan Stanley.

[@UnfilteredOverland]

Trying to set Up 401K and HSA whenever I import the info I get a place holder on each one of my holdings, with a date one day past the last day imported. These dates hold large numbers of shares almost equaling the total number of shares I currently hold in each one of these positions. I have never bought that many shares of these holding at one time so what is going on here?

[@PlayLouder]

Its hard for me to say without looking at it. I can say that 401ks and HSA are often the equivalent of brokerage accounts, and that seems to be the case for you. When you set up a brokerage account the download only goes back so far. So if it cant go back to when you purchased the positions, you will have to manually enter cost basis info. Until you do that it keeps the position amounts as "placeholder".

[@michaelschaeffer5308]

Strongly recommend a video on what to do when, no matter how much you've tried, a major account will NOT synch with Quicken. How to manually enter an investment account including mutual fund securities tickers, etc. I've spent numerous hours including long support calls with both Capital Group and Quicken and our 529 Account simply will not synch. No matter what innumerable combinations of UN, SSN, Acct Numbers, PW, reset PW, etc.... tried, Quicken will not recognize the sign in. I've accepted that I'll have to enter manually but I've had problems with that as well.

[@PlayLouder]

Thats uncommon, but I have heard it before. Sorry to hear that.