Combining investment accounts

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jlwoodard

19 Aug, 2009 01:25 AM

I just created a Traditional IRA account and am trying to take three separate mutual fund accounts from the same investment company and move them to the Traditional IRA account. Because my three separate mutual fund accounts are from a previous employer, I am able to do an in-kind transfer into the Traditional IRA.

I created the traditional IRA account and then went to each of the registers in the separate mutual fund accounts, hit command-A and selected batch change for all the transactions, changing the account to the traditional IRA account.

In the register of the traditional IRA accounts, all the transactions seem to show up. However, in the securities detail, the history of transactions does not show up, and the cost basis, shares, etc. also are all 0 (except for price). The performance graph does show the pice fluctuations over time that I've had that security.

The portfolio view also does not show any information except 0's.

Is there a way to merge several accounts into a single account so that the history and cost basis (and % change) show up? Many thanks in advance!!

  1. 1 Posted by Ben Spencer on 20 Aug, 2009 02:47 PM

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    Hi John

    I am afraid it is not possible to merge investment accounts in the way you describe. I recently had the same issue when I wanted to transfer a security from one investment account to another and noticed the problem with batch changing the account on transactions. I spoke with the developer about this and he told me that it was not possible and that the only way to do is is to do a SellXfer in the original account and then a Buy in the destination account. You must do the sell and the buy at the same price and I recommend that the price be the original purchase price of the security such that the gain is the same.

    I am sorry for the inconvienience.

    Sincerely

    Ben Spencer

  2. 2 Posted by jlwoodard on 22 Aug, 2009 03:12 AM

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    Hi Ben,
    When I first read your post, I thought I understood, but when I looked at my accounts, there are hundreds of transactions across the accounts. Would I have to do a SellXfer for each transaction in the original account and then another buy for each transaction in the destination account? Because I make monthly purchases of 5-6 securities, there are tons of transactions, times two. Clearly, I don't think that will be possible because of the number of transactions. Is there any kind of shortcut to doing this?

    John

  3. 3 Posted by Ben Spencer on 22 Aug, 2009 09:19 PM

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    Hi John

    You would not have to do a SellXfer for each transaction only for each security currently held. I relaize that for a large number of securities this could be a time consuming undertakeing.

    I am sorry for the inconvienience.

    Sincerely

    Ben Spencer

  4. 4 Posted by jlwoodard on 24 Aug, 2009 03:56 PM

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    Thanks Ben. If I make a SellXfer into the new account, I assume that I'll have a certain cash value in my new account. When I buy shares at the original purchase price in the new account, I will end up "spending" more than the cash value, since due to the market downturn, I have negative returns on these investments. How do I deal with the negative cash balance that will show up in the new account?

    As an aside, is there anything the developer could do to add an easier way of doing in-kind transfers like this? Since you mentioned you had the same problem, I am sure more people than you and I will have this issue. Having to essentially reenter transactions twice kind of negates any benefit of using a personal financial management program.
    John

  5. 5 Posted by Ben Spencer on 24 Aug, 2009 04:09 PM

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    Hi John

    A SellXfr will transfer the value of the sale to the account specified. So if you then buy at the same price you sold at there will be no change in the cash balance of the account.

    There exists a long standing ticket in our issue tracking system proposing to allow for the transfer of securities. Here is a link to the ticket:

    http://moneydance.com/trac/ticket/892

    If you register and log in to trac you an vote on tickets. We use the number of votes tickets get to help us determine what we will work on next.

    Sincerely

    Ben Spencer

  6. 6 Posted by jlwoodard on 24 Aug, 2009 05:23 PM

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    Thanks very much, Ben. I'm still a little unclear on how to do this. I have several mutual funds in my retirement portfolio. Every two weeks, I buy shares of 6 different mutual funds. Every purchase is for a different number of shares at a different purchase price.

    It sounds like I would have to do a SellXfr for each of those transactions, so that I could then Buy each of those transactions for the original purchase price. So it sounds like entering similar information twice, once for the SellXfr and once for the Buy. Do I have that correct? Many thanks in advance, Ben.

    John

  7. 7 Posted by Ben Spencer on 24 Aug, 2009 05:49 PM

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    Hi John

    Yes, I believe you have that correct. I realise that is quite inconvenient and am sorry for the trouble this is causing.

    Sincerely

    Ben Spencer

  8. Angie Rauscher closed this discussion on 24 Jul, 2011 06:53 PM.

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