Downloads adding stocks we don't own
Two problems:
Updating stock prices adds tickers for stocks we have never owned. I get the window asking which stock matches at ticker, but it's never the correct one as a choice. See attached for tickers we have never and do not currently own.
And the March tickers are not updating for positions we do own. Instead new tickers for the same stocks are added.
None of these phantom positions are able to be deleted in the main securities window.
ETA: running Sequoia 15.4 (24E248) and MD 2024.4 (5253) on M4 Apple processor.
I would add list of extensions I've installed but not permitted after I posted.
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wrongtickers.jpg
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wrongtickers.jpg
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1 Posted by sth on 11 Apr, 2025 02:16 AM
Yes, this happens when using Plaid. Plaid finds some odd security IDs which are not matched to the CSUIP number or the SEDOL number. It is very odd. Sometimes MD+/Plaid treats all cash as Robinhood cash. I just usually change Robinhood to a cash transaction in the register for things like interest.
However, Plaid as imperfect as it is, seems to be the best way to interact with brokerages these days. Most brokerages have discontinued direct download of OFX files. Nor do they allow small companies to connect creating business for these aggregators. Plaid was picked by the developer for its security and the wide selection of financial institutions it accessed.
Hopefully the developer can contact Plaid and ask it to improve its data handing. There are many mislabeled transactions (ie MISCINC instead of DIV) as well.
2 Posted by slo.loe on 12 Apr, 2025 04:54 PM
Thanks. I appreciate your response.
3 Posted by bheck11 on 13 Apr, 2025 03:15 PM
Not the end of the issue for me.
Plaid added four copies of "ROBINHOOD_PLAID_CASH_SECURITY", one for each of my Vanguard accounts. I'd like to delete this security, but when I try to do so, I can't because MD says they are being used. When I look in the accounts, no transactions actually use that security, and none of those show up in Portfolio vioew in any of the accounts.
So now what?
4 Posted by sth on 13 Apr, 2025 04:27 PM
@bheck11, yes that is the normal screwup. To delete a security is must not be "associated" with any account. Even if a security has zero balance at the moment it may be associated with the account. If it is in the drop down list for that account in the Securites tab then it is associated with the account.
To delete the security first go to each of the Vanguard Accounts and in the Securities tab, use the Remove Security to remove ROBINHOOD from that account. Make sure there are no mislabeled transactions under that security.
Gripe: The remove security dropdown menu does not default to the current security so if you expect that you will end up removing the first security alphabetically. Just a little gotcha.
Kudos: Toolbox (+1) will also tell you which accounts a security is in and if you can delete it.
(NOT IK Support)
5 Posted by bheck11 on 13 Apr, 2025 08:45 PM
@sth -- thanks, that worked.
To IK support: There's a lot to like about MD, so I don't want to sound too negative. But here's one more vote for some significant upgrades to handling investments. This kind of situation is, to say the least, frustrating -- the whole sequence, from Plaid adding strange securities to opaque reasons for not being able to remove them to having to submit a question on a forum to solve what sure looks like a simple problem.
6 Posted by sth on 13 Apr, 2025 09:07 PM
This is Plaid's fault. Many (most?) financial institutions stopped providing direct downloads to personal finance management software. At that point there was a complex authorization for download FDX data from financial institutions. HOWEVER, this was restricted to large corporations such as Intuit, plaid and others. Most banks/brokerages want you to give them all your information rather than keeping it on your own system.
Plaid is not a perfect system by any means, but is probably the most secure, most comprehensive (for US institutions) and the cheapest. There are all these tradeoffs. I also would like an alternative system but not sure which criterium I would compromise.
All problems look simple until you dig into the details. In this case it should not happen that you add a security with no activity. Again, Plaid trying to translate thousands of banks different information to MD items.
The normal way of adding a security makes it clear:
https://infinitekind.tenderapp.com/kb/investment-accounts/adding-se...
I agree that the knowledge base should have a note on removing a security just like it does for removing a currency. That article mentions that you can't remove a currency with transactions. The article on securities should mention you can't remove a security that is in an account. Toolbox extension (+1) will tell you what accounts the security is in and if there are any transactions. Might be nice if that functionality was incorporated into the attempted removal button.
also useful
https://infinitekind.tenderapp.com/kb/investment-accounts/fixing-mi...
7 Posted by bheck11 on 14 Apr, 2025 12:32 PM
@sth -- yes, I understand that Plaid is at fault for adding securities that are not actually in the account. But given that this is a known issue, surely it would be helpful to have a note somewhere in the documentation to tell how to deal with it.
To be clear, the accounts in question showed no transactions for the security, nor did portfolio view for any of the accounts show the invalid security. As a user just trying to get things to work, the idea that I then have to start playing detective really is not appealing. Again, I'm not trying to beat up on anyone, just pointing out that this sort of thing is terribly frustrating from the point of view of a user who is not fully immersed in all the ins and outs of the software.
Support Staff 8 Posted by Maddy on 15 Apr, 2025 12:54 PM
@ slo.loe and @ bheck11
Although the problem is due to Plaid returning securities that seem to not be in your account, and those securities will keep popping up after each download from MD+.
In order to prevent them from downloading again, (as a workaround) you could mark them as inactive as indicate here and possibly add a prefix to the name such as "ZZZ Robinhood" or something similar, to keep them out of the way.
Lastly, please stay assured that the development team are looking into a more permanent solution.
I've flagged this thread and you will be notified when an update is available.
I hope this information is helpful. Please let us know if you have further questions or need more assistance.
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Maddy, Infinite Kind Support