Brokerage Account Consolidation

Posted by Don R on February 14, 2008, 10:59 pm

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I have three mutual fund accounts at different financial institutions
that will soon be transferred to a new brokerage account at TIAA-CREF.

I understand share transfer between quicken accounts, but I'm concerned
about how I should handle the direct connect feature. All four accounts
offer direct connect and the three mutual fund accounts are currently
connected this way. The brokerage account, which I have not set up yet,
also offers direct connect.

My plan is to turn off the direct connect to the mutual fund accounts
and manually transfer shares to the new brokerage account. Then set up
direct connect in the brokerage account and hope for the best. I'd
appreciate any comments or recommendations on how to make this share
transfer work.

Thanks,
Don

Posted by Don R on February 23, 2008, 7:53 am

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Don R wrote:

> I have three mutual fund accounts at different financial institutions

> that will soon be transferred to a new brokerage account at TIAA-CREF.

> I understand share transfer between quicken accounts, but I'm concerned

> about how I should handle the direct connect feature. All four accounts

> offer direct connect and the three mutual fund accounts are currently

> connected this way. The brokerage account, which I have not set up yet,

> also offers direct connect.

> My plan is to turn off the direct connect to the mutual fund accounts

> and manually transfer shares to the new brokerage account. Then set up

> direct connect in the brokerage account and hope for the best. I'd

> appreciate any comments or recommendations on how to make this share

> transfer work.

> Thanks,

> Don

It worked!
After transferring shares between accounts, I did a direct connect
download from the new account. I deleted all downloaded transactions
then did a direct connect again. The second time the share balances were
in agreement. Hope this information is useful for anyone else thinking
about transferring shares between accounts that have Quicken direct
connect activated.