Keeping Tabs on Investment Accounts

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Call_Me_Op
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Keeping Tabs on Investment Accounts

Post by Call_Me_Op » Sat Oct 07, 2017 3:27 pm

How do folks "keep tabs" on their various investment accounts? This question is related to attempting to prevent fraud. Do you check all of your accounts online, and how frequently? Do you make sure you have online access to all accounts (including bank accounts)?

This question is prompted by the recent threads on identity theft/fraud, and also my concern that Vanguard's (and some other firms') fraud policy has a lot of - shall we say - holes in it - if you read the fine print. It is anything but ironclad.

Certainly, keeping tabs on the accounts is only a small piece of what one needs to do to stay safe, but I am limiting the scope if this thread.
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retire57
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Re: Keeping Tabs on Investment Accounts

Post by retire57 » Sat Oct 07, 2017 3:33 pm

Quicken.

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whodidntante
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Re: Keeping Tabs on Investment Accounts

Post by whodidntante » Sat Oct 07, 2017 3:33 pm

I check them frequently. Partly because I enjoy it, and partly because I want to know if things are in order. I also use Personal Capital, Mint, Fidelity Fullview, and Merrill My Financial Picture. That said, most fraud prevention procedures and terms seem oriented towards protecting the custodian, and that interest sometimes overlaps with protecting your assets.

livesoft
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Re: Keeping Tabs on Investment Accounts

Post by livesoft » Sat Oct 07, 2017 5:11 pm

e-mail. Any activity creates an e-mail that we get.
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ResearchMed
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Re: Keeping Tabs on Investment Accounts

Post by ResearchMed » Sat Oct 07, 2017 5:22 pm

whodidntante wrote:
Sat Oct 07, 2017 3:33 pm
I check them frequently. Partly because I enjoy it, and partly because I want to know if things are in order. I also use Personal Capital, Mint, Fidelity Fullview, and Merrill My Financial Picture. That said, most fraud prevention procedures and terms seem oriented towards protecting the custodian, and that interest sometimes overlaps with protecting your assets.
I check all investment accounts very frequently.

I started doing this way back, when I first took over the investments after we fired our BigBrokerageAgents.
As a "numbers person", I just enjoy looking. It means a lot more when it's "our money" rather than "general trends" :happy

I actually started watching returns almost daily back then so I could get a "sense" of how "our holdings" fluctuated (or didn't) vs "the market".
That turned out to be *very* helpful, as we quickly learned that whatever "happened" on a good or bad day tended to level out, plus the slow climb in general.
That made it a lot easier to weather most market fluctuations, although 2008 was stretching that.
(We did adjust to that by bailing on TREA and then later getting back in, but that was a special situation, as we were learning from some very helpful folks at the Morningstar Forum.)

Obviously, this would also allow us to notice anything odd/wrong, in a very timely fashion.

As we approach (eventually) retirement, it's also been very nice to note the progress. We focus on "each new high", and try to disregard any lower totals.

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DaftInvestor
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Re: Keeping Tabs on Investment Accounts

Post by DaftInvestor » Sat Oct 07, 2017 5:29 pm

I have online access to all accounts and check at least monthly to download all statements. For bank accounts with eBill pay I check in weekly. I got rid of all paper mailed statements years ago.

jebmke
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Re: Keeping Tabs on Investment Accounts

Post by jebmke » Sat Oct 07, 2017 5:35 pm

I look at things about twice a month. I have to check at the end of the month to manage cash. A mid-month check is mainly to see if any odd transactions have occurred. The bank sends me a text for any large debits. My CC sends me a text for any card-not-present transactions. Checking takes a couple minutes twice a month so not a time sink. All of our investments are in one place so that makes it easy.
When you discover that you are riding a dead horse, the best strategy is to dismount.

runner3081
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Re: Keeping Tabs on Investment Accounts

Post by runner3081 » Sat Oct 07, 2017 9:00 pm

Credit Card Accounts (3 of them) - Checked every AM

Main online Bank Account - Checked every AM

Everything else - Checked monthly and tracked on an Excel Spreadsheet

sleepysurf
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Re: Keeping Tabs on Investment Accounts

Post by sleepysurf » Sat Oct 07, 2017 9:27 pm

For those of you tracking your investment/bank accounts with Personal Capital (via Yodlee), you can opt-in for a daily email summary of all transactions... https://support.personalcapital.com/hc/ ... ey-Monitor

For those concerned about security with Personal Capital, here's their detailed explanation of security measures taken... https://www.personalcapital.com/financi ... e/security

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Phineas J. Whoopee
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Re: Keeping Tabs on Investment Accounts

Post by Phineas J. Whoopee » Sun Oct 08, 2017 2:56 pm

I look online weekly, not only to be sure we agree on what I have, but also to make sure nobody is starting to set me up to be their victim.

How could somebody drain my investment account? They could get a paper check mailed to them, or they could have money transferred to a linked bank account.

With enough information they probably could open a new account elsewhere, then order an in-kind transfer.

They could also impersonate me and ask to have the registration changed, although that's a several-step process which requires third parties.

So, while I'm there I take a quick look at my address, registration, email address, and links to banks.

I suppose somebody could log in as me to an investment custodian, order a sale and money sent to one of my bank accounts, then impersonate me at the bank, but since everything has unique passwords and two-factor authentication, and the local brick and mortar bank asks for photo ID for cash at the teller's window above a couple hundred dollars they'd have to work awfully hard. I suppose they could figure out my ATM card number and PIN to drain me slowly over a number of days, but faced with all those steps I should hope an ordinary thief identifies me as a bad mark.

If the FBI, or for that matter the FSB, targeted me personally I'd be toast.

PJW
Last edited by Phineas J. Whoopee on Sun Oct 08, 2017 3:08 pm, edited 2 times in total.

david99
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Re: Keeping Tabs on Investment Accounts

Post by david99 » Sun Oct 08, 2017 3:03 pm

I check my accounts weekly. I also receive emails and text messages from Vanguard if there is any activity. I wish that all my financial institutions sent me emails and text messages with any activity.

jebmke
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Re: Keeping Tabs on Investment Accounts

Post by jebmke » Sun Oct 08, 2017 3:07 pm

david99 wrote:
Sun Oct 08, 2017 3:03 pm
I check my accounts weekly. I also receive emails and text messages from Vanguard if there is any activity. I wish that all my financial institutions sent me emails and text messages with any activity.
Alerts and 2FA are minimum requirements for us now. It isn't complicated technically for them so there isn't any need to stay with any institution that doesn't have both. Employer plans would be an exception of course - not much you can do about them.
When you discover that you are riding a dead horse, the best strategy is to dismount.

travelogue
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Re: Keeping Tabs on Investment Accounts

Post by travelogue » Sun Oct 08, 2017 3:35 pm

I use Mint for the overview and log into each account for the details. Recently switched to Schwab for checking and taxable brokerage and might try their Summary feature.

Silverado
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Re: Keeping Tabs on Investment Accounts

Post by Silverado » Sun Oct 08, 2017 9:22 pm

I log in and check several accounts at least once a week. I ask my spouse once or twice a year to log in to her retirement accounts to check in.

I mainly keep an eye out for any usage that doesn't make sense. So far so good. Mostly.

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