Fidelity Netbenefits changing securities description

Marcus's Avatar


02 Sep, 2023 04:31 PM

I am downloading my 401k transactions via OFX from Fidelity Netbenefits. I am only contributing to their 2035 Retirement Path and the description used to be "2035 RETIREMENT PATH OAB4", recently they changed it to "2035 RETIREMENT PATH NON40OAB4", therefore now 2 securities show up in my portfolio. I am currently changing the Security manually back to 2035 Retirement Path. This reduces the number of shares by a factor of 10 and the share price to 1/10, so the sum stays the same.

Is there a better way to deal with this?

  1. 1 Posted by dtd on 02 Sep, 2023 09:29 PM

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    This frustrates me as well, though it is the Bank's "fault" not Moneydance.

    I own Apple Computer with Schwab, but in the last year, they changed what is downloaded to Apple Inc (same APPL, but different naming convention). As you say, 2 securities now, not one. I also have been changing Apple Inc back to Apple Computer, but have wondered if I should do the opposite and change all Apple Computer transactions to Apple Inc to "go with what Schwab has changed".

    So, a better way to deal with this? I'm still working on that. It's probably going to be altering the past to match the present, versus (what we are both doing) altering the present to match the past - but I haven't taken that step yet.

  2. 2 Posted by dwg on 02 Sep, 2023 11:01 PM

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    I suspect you will have to change what is in Moneydance to match what the institution is providing. The institutions are largely in the driving seat and there is only so much Moneydance can do, or perhaps even should do to work around them.

    There are times to just go with the flow. :)

  3. 3 Posted by Dudley Sirius on 03 Oct, 2023 01:53 AM

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    It would be nice to beable to "Merge" securities. (To tell Moneydance that these are both the same thing, and have it prompt me to choose which name, symbol, etc, I want to use for the security.)
    Ideally, it would show me the two securities side by side, with something to tell me which was used most recently, or perhaps the most recent transactions listed for each.

  4. 4 Posted by dwg on 03 Oct, 2023 02:33 AM

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    The Toolbox extension has the ability to be able to merge securities provided certain conditions are met.

  5. 5 Posted by Derek on 01 Nov, 2023 02:52 AM

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    Having the same issue, but have a lot of transactions to fix.

    But having to fix the decimal point after selecting a different security for each transaction seems like a Moneydance bug. Is this a known issue?

  6. 6 Posted by waltzerer.kwpk on 01 Nov, 2023 04:41 PM

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    I think there are two issues here:
    1. Netbenefits changing their security description
    2. Netbenefits(?) changing the price/shares ratio by a factor of ten

    My strictly personal sense is that the first problem could perhaps be addressed by the Toolbox Security Merge, as mentioned already by dwg.

    The second problem is the seeming change in the price/shares ratio - this appears to only show up in newly downloaded data, but not on any other Netbenefits reports. This MIGHT be worth a look by the Infinite Kind Development team, to help determine whether this is likewise a Netbenefits "feature", or whether the interpretation of Netbenefits OFX files truly does need to be updated.

  7. System closed this discussion on 31 Jan, 2024 04:50 PM.

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