Changing Custodian of my Investment Accounts

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Fred

26 Oct, 2020 01:07 AM

I currently have 2 Brokerage Accounts and 1 IRA Account with Fidelity Investments holding Bonds and Stocks. I opened these in 2010 and updated the holdings through weekly Account Downloads via Online > Download All Accounts, and kept the prices up-to-date with the Security Price Loader. I am now transferring these accounts with all the current holdings to my new custodian Charles Schwab.
I see that I can in MD Change the Online Banking Service under Online > Set up Online Banking and do find my new Custodian there.
- Is this all I need to do?
- Will this keep all my history, like prices, purchases, sales, transfers, .?
Thanks,
Fred

  1. 1 Posted by Fred on 04 Dec, 2020 02:27 AM

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    I realize that my switching in mid October from Fidelity to Schwab was not at the best of times for my Moneydance, and I am following with great interest all queries and look forward to the completion of Sean's extraordinary effort to make MD work again for Schwab investments downloads.
    So, is somebody out there who can answer my questions posted on Oct 25 ???
    Thanks.

  2. 2 Posted by dtd on 04 Dec, 2020 02:34 AM

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    Hmmm. just a user here, but unless I'm reading your questions wrong, this is all in a state of flux, and the new schwab online download (temporary) protocol is something we are all waiting for.

    If there is a specific question that isn't "in flux", can you state it again, and I, or others would be willing to answer.

    It does appear your Oct 25 question got ignored, but given the situation, probably not surprising as everyone has been gobsmacked about this.

  3. 3 Posted by dtd on 04 Dec, 2020 02:37 AM

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    All your history should be preserved. That seems to be a specific question.

    Change the name (from Fidelity to Schwab), then assuming Sean gets the new protocol to work, change the online download based on the "tunnel" instructions, and you should be good to go.

  4. 4 Posted by Fred on 04 Dec, 2020 02:50 AM

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    I am following closely the current issue/effort re downloading Schwab investment accounts. I have suspended updating my investment accounts in MD until the Schwab issue is resolved.
    Once that is resolved, I would like to move forward with transitioning my investment accounts in MD from Fidelity to Schwab and I was hoping somebody would answer my related questions posted on Oct 25 on how to do this in the best way.
    Sure, my questions are kind of mute at this point of time, but still valid. We can take Schwab out of my questions and assume instead that I am switching from Fidelity to xyz - what is the best process to do this … see my Oct 25 questions but replace Schwab with xyz. And then the answer is ???

  5. 5 Posted by dtd on 04 Dec, 2020 03:13 AM

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    Um, sorry, I thought I did answer the questions you asked.

    Can you separate out what I did not answer?

    Trying to help.

    My impression was that this was the answer, a previous post,

    All your history should be preserved. That seems to be a specific question.

    Change the name (from Fidelity to Schwab), then assuming Sean gets the new protocol to work, change the online download based on the "tunnel" instructions, and you should be good to go.

    Can you help me on where I got your inquiry wrong?

  6. 6 Posted by dtd on 04 Dec, 2020 03:18 AM

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    To jump the gun. Forget Schwab.

    - Is this all I need to do? YES
    - Will this keep all my history, like prices, purchases, sales, transfers, .? YES

    Does that help?

  7. 7 Posted by Fred on 04 Dec, 2020 05:13 AM

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    Thanks dtd. Our emails crossed. I appreciate your support.
    Stay safe.

  8. Maddy closed this discussion on 04 Dec, 2020 10:02 AM.

  9. Fred re-opened this discussion on 09 Dec, 2020 06:00 PM

  10. 8 Posted by Fred on 09 Dec, 2020 06:00 PM

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    Changed custodian of my investment account - easy and worked well, and to Schwab !
    Thanks for your affirmations and support.
    Fred

  11. Melissa closed this discussion on 17 Dec, 2020 06:14 PM.

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