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American Funds : Need to combine in Quicken Tivo'ed 10-23-2006
Posted by Tivo'ed on October 23, 2006, 2:32 pm
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 The idiots at American Funds have no concept about how people track
their investments. My wife purchased four American Funds mutual funds
for each of our two grandchildren through Edward Jones. Future reinvestment
transactions will not be available through EJ because they are just "linked"
to the AF funds, and will only be reporting the totals. I will have to get
transactions from AF.

AF is set up to communicate with Quicken, HOWEVER, each mutual fund
must be setup as an individual account in Quicken. I can go to the AF website
and see all funds in an account, but I can't download transactions for all funds
into one Quicken account. That means eight separate accounts in Q. What
a pain.

I've called AF and gotten the "we aren't set up that way" BS. I've asked to
speak to a VP in charge of all this, but of course, they're too busy backdating
their stock options to actually provide some customer "service".

It would be nice if I could combine the funds under one account in Quicken,
however it would be nicer if AF wasn't run by idiots.



Posted by John Pollard on October 23, 2006, 3:10 pm
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> The idiots at American Funds have no concept about how people
> track
> their investments. My wife purchased four American Funds
> mutual funds
> for each of our two grandchildren through Edward Jones.
> Future reinvestment
> transactions will not be available through EJ because they are
> just "linked"
> to the AF funds, and will only be reporting the totals. I
> will have to get
> transactions from AF.
>
> AF is set up to communicate with Quicken, HOWEVER, each mutual
> fund
> must be setup as an individual account in Quicken. I can go
> to the AF website
> and see all funds in an account, but I can't download
> transactions for all funds
> into one Quicken account. That means eight separate accounts
> in Q. What
> a pain.
>
> I've called AF and gotten the "we aren't set up that way" BS.
> I've asked to
> speak to a VP in charge of all this, but of course, they're
> too busy backdating
> their stock options to actually provide some customer
> "service".
>
> It would be nice if I could combine the funds under one
> account in Quicken,
> however it would be nicer if AF wasn't run by idiots.

Interesting.

I have a couple of MFS funds, originally purchased through Legg
Mason, and held at MFS. Legg Mason always reported the MFS
transactions, and included them in my downloads, though they
were a few days later than when they actually occurred at MFS.

Recently (possibly part of the Smith Barney takeover of Legg
Mason), the MFS funds are now, apparently, held at Smith Barney.
I still get my transactions just as before though.

I'm not sure, but I think both Legg Mason/Smith Barney and MFS
had to make some compromises to allow me to get my MFS
transactions seamlessly via Legg Mason/Smith Barney.



Posted by John Pollard on October 23, 2006, 3:27 pm
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> Interesting.
>
> I have a couple of MFS funds, originally purchased through
> Legg Mason, and held at MFS. Legg Mason always reported the
> MFS transactions, and included them in my downloads, though
> they were a few days later than when they actually occurred at
> MFS.
>
> Recently (possibly part of the Smith Barney takeover of Legg
> Mason), the MFS funds are now, apparently, held at Smith
> Barney. I still get my transactions just as before though.
>
> I'm not sure, but I think both Legg Mason/Smith Barney and MFS
> had to make some compromises to allow me to get my MFS
> transactions seamlessly via Legg Mason/Smith Barney.

It turns out that I also have an American Funds mf also
purchased through Legg Mason. It too has been reported by, and
had its transactions downloaded successfully from, Legg
Mason/Smith Barney.

In the case of this fund, I do not think it was actually held at
American Funds though, because I do not recall getting a 1099
from them.

It does seem that there are other arrangements possible than the
one you got from Edward Jones and American Funds.

--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup



Posted by Tivo'ed on October 23, 2006, 4:25 pm
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Well, you are the lucky one. Even though these funds have just been
opened up, Edward Jones only shows the transfer out, and not the
purchase transaction of the fund. So that side of the equation is no joy.

The problem is definitely on the idiot American Funds side. They have
tracking through Quicken, but only on an individual fund basis, not on an
acccount basis (ie multiple funds under one acct #).

And therefore the only way to track in Quicken is to set up an individual
account for each fund. Definitely idiotic.

>
>> Interesting.
>>
>> I have a couple of MFS funds, originally purchased through Legg Mason, and
held at MFS. Legg
>> Mason always reported the MFS transactions, and included them in my
downloads, though they were a
>> few days later than when they actually occurred at MFS.
>>
>> Recently (possibly part of the Smith Barney takeover of Legg Mason), the MFS
funds are now,
>> apparently, held at Smith Barney. I still get my transactions just as before
though.
>>
>> I'm not sure, but I think both Legg Mason/Smith Barney and MFS had to make
some compromises to
>> allow me to get my MFS transactions seamlessly via Legg Mason/Smith Barney.
>
> It turns out that I also have an American Funds mf also purchased through Legg
Mason. It too has
> been reported by, and had its transactions downloaded successfully from, Legg
Mason/Smith Barney.
>
> In the case of this fund, I do not think it was actually held at American
Funds though, because I
> do not recall getting a 1099 from them.
>
> It does seem that there are other arrangements possible than the one you got
from Edward Jones and
> American Funds.
>
> --
> John Pollard
> First initial underscore Last name at mchsi dot com
> Please reply to newsgroup
>



Posted by Oilcan on October 24, 2006, 3:55 am
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No different then Oppenheimer Funds. At least you can track through
Quicken. I could not while I held those funds. I would not complain.


Tivo'ed wrote:
> Well, you are the lucky one. Even though these funds have just been
> opened up, Edward Jones only shows the transfer out, and not the
> purchase transaction of the fund. So that side of the equation is no joy.
>
> The problem is definitely on the idiot American Funds side. They have
> tracking through Quicken, but only on an individual fund basis, not on an
> acccount basis (ie multiple funds under one acct #).
>
> And therefore the only way to track in Quicken is to set up an individual
> account for each fund. Definitely idiotic.
>
> >
> >> Interesting.
> >>
> >> I have a couple of MFS funds, originally purchased through Legg Mason, and
held at MFS. Legg
> >> Mason always reported the MFS transactions, and included them in my
downloads, though they were a
> >> few days later than when they actually occurred at MFS.
> >>
> >> Recently (possibly part of the Smith Barney takeover of Legg Mason), the
MFS funds are now,
> >> apparently, held at Smith Barney. I still get my transactions just as
before though.
> >>
> >> I'm not sure, but I think both Legg Mason/Smith Barney and MFS had to make
some compromises to
> >> allow me to get my MFS transactions seamlessly via Legg Mason/Smith Barney.
> >
> > It turns out that I also have an American Funds mf also purchased through
Legg Mason. It too has
> > been reported by, and had its transactions downloaded successfully from,
Legg Mason/Smith Barney.
> >
> > In the case of this fund, I do not think it was actually held at American
Funds though, because I
> > do not recall getting a 1099 from them.
> >
> > It does seem that there are other arrangements possible than the one you got
from Edward Jones and
> > American Funds.
> >
> > --
> > John Pollard
> > First initial underscore Last name at mchsi dot com
> > Please reply to newsgroup
> >


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