Issue with Quicken and Fidelity retirement accounts

[austin_hiker]

Not sure if this topic is appropriate for this forum but I’ve seen folks ask for recommendations for both personal finance software as well as opinions on the big financial institutions so here goes.
Sometime last week an issue arose where within each workplace retirement account I have with Fidelity (they call it “NetBenefits”), a new, duplicate security/fund was created (as reflected in Quicken), so Quicken now shows my retirement funds as having effectively doubled. E.g., in my 403b account they’ve duplicated my stock index fund, money market fund, and bond index fund. Similarly in my 457 account.

(I should add this is not reflected when I log on to the online site; only in my linked Quicken.)

Quicken has stated this is a known issue as of last Thursday (3/9) and reiterated that yesterday (3/16), stating there is no ETA for a fix. “We do not have an ETA at this time for a resolution for this issue, though our teams continue to work towards a solution. We apologize for any inconvenience and thank you for your patience. “

Wondering if it’s affecting all Fidelity retirement accounts? I’m retired software developer and recognize blame may lie with either Quicken or Fidelity. It’s annoying now, after I start getting dividends or other transactions it will be a real pain.

At least Quicken has acknowledged the issue on their support forums; I’ve seen nothing from Fidelity.

[MGBMartin]

I’ve been having the same problem with my wife’s NetBenefits Fidelity account.
I tried resetting the online connection for the account and that didn’t do anything.
I then tried deactivating the account and re-adding it and it connected OK but it added all the investments again with the current date and updated prices after which trying to update again just brought back the same error to begin with.

I guess if Quicken has an open ticket they will resolve it eventually.

[WinstonTeracina]

Same issue with my NetBenefits account; hasn’t been syncing properly for over a week now. Other Fidelity accounts like my IRA and HSA are still syncing fine.

[prd1982]

Do you have a backup of a Quicken file from before the problem? If you do save the file now. Otherwise save the current file.

[austin_hiker]

Do you have a backup of a Quicken file from before the problem? If you do save the file now. Otherwise save the current file.

I have automatic backups but only five; also have one "pre-update" backup from Mid February. So I'd have to do some manual updates from that point to whenever it's good again in my non-downloaded accounts.

[joe-kr]

I had this happen and it only affected my wife’s Fidelity 401k account.
I was able to fix the problem (after some experimenting) by just replacing the security name.

I went to an older transaction entry and copied the security name, then pasted over the new incorrect security name.

After doing this, my holdings, when clicking the “holdings” button, were correct.

Before I stumbled on this, I also clicked on the “security detail view” which is the little icon after the security name. This appears once you select a transaction line.
Once you click that, you can click “edit details” and add in the correct symbol for the new security name. I noticed that there was no symbol associated with the new security name.

I’m not sure if I needed to do that, but that’s what I did before copying and pasting the security name in the transaction line.

[Gryphon]

Wondering if it’s affecting all Fidelity retirement accounts?

It hasn't affected either of my Fidelity IRAs (or any of my other Fidelity accounts), so it might just be NetBenefits accounts.

[austin_hiker]

I had this happen and it only affected my wife’s Fidelity 401k account.
I was able to fix the problem (after some experimenting) by just replacing the security name.

I went to an older transaction entry and copied the security name, then pasted over the new incorrect security name.

After doing this, my holdings, when clicking the “holdings” button, were correct.

Before I stumbled on this, I also clicked on the “security detail view” which is the little icon after the security name. This appears once you select a transaction line.
Once you click that, you can click “edit details” and add in the correct symbol for the new security name. I noticed that there was no symbol associated with the new security name.

I’m not sure if I needed to do that, but that’s what I did before copying and pasting the security name in the transaction line.

Hmm, I don't have any transactions with the "new" funds, except for the weird "Add Shares" dated August of 2017, which were entered March 14, 2023 with "placeholder" in the memo field.

[WinstonTeracina]

Just wanted to add an update that the NetBenefits issue seems to have been resolved for me as of this morning.

When I logged in I was prompted to install some updates and after doing so my NetBenefits account was syncing without issue and downloaded transactions from the past two weeks that I was missing. Currently on version R48.15 (windows)

[austin_hiker]

Thanks, I'd noticed it updated last night (Mac) and updated my accounts but phantom accounts remained. This morning I deleted the phantom account transactions, did another update and it *almost* worked. Share balances are all correct now but there remains a bogus "cash" transaction of a couple hundred dollars. Will investigate the recent transactions.