Conversion of Single Mutual Fund IRA Account to Brokerage

Posted by JRoss on March 10, 2009, 5:23 pm

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I have 3 IRA accounts with the same fund group. All are set up in
Quicken as single mutual funds. Is it possible to combine them in a
new brokerage account?

Posted by John Pollard on March 11, 2009, 9:33 am

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JRoss wrote:

> I have 3 IRA accounts with the same fund group. All are set up in

> Quicken as single mutual funds. Is it possible to combine them in a

> new brokerage account?

What year/version of Quicken?

Do the existing Quicken accounts have a Cash Balance column or a Share
Balance column?

Do you download to the current accounts?

--

John Pollard

Posted by jrossitter on March 11, 2009, 4:44 pm

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> JRoss wrote:

> > I have 3 IRA accounts with the same fund group. All are set up in

> > Quicken as single mutual funds. Is it possible to combine them in a

> > new brokerage account?

> What year/version of Quicken?

> Do the existing Quicken accounts have a Cash Balance column or a Share

> Balance column?

> Do you download to the current accounts?

> --

> John Pollard

I updated yesterday to 2009 DLX from 2006 DLX.
The accounts have a Share Balance column.
I don't believe this fund group (Dodge & Cox) has download capability.
(I have started downloads to another brokerage account I have with
fidelity.)

Another question--is it possible/recommended to mix IRAs and taxable
investments in the same brokerage account?

Posted by John Pollard on March 11, 2009, 5:55 pm

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jrossitter@aol.com wrote:

> > JRoss wrote:

> > > I have 3 IRA accounts with the same fund group. All are set up in

> > > Quicken as single mutual funds. Is it possible to combine them in

> > > a new brokerage account?

> >

> > What year/version of Quicken?

> >

> > Do the existing Quicken accounts have a Cash Balance column or a

> > Share Balance column?

> >

> > Do you download to the current accounts?

> I updated yesterday to 2009 DLX from 2006 DLX.

> The accounts have a Share Balance column.

This means that they are true Quicken Single Mutual Fund accounts and you
won't be able to combine them in any of the 3 existing accounts.

> I don't believe this fund group (Dodge & Cox) has download capability.

> (I have started downloads to another brokerage account I have with

> fidelity.)

So it won't matter to the financial institution what your Quicken account
setup is.

I think the simplest way to accomplish your goal is to create a new
Quicken IRA account (I don't believe you can create a Quicken IRA account
that is also a Quicken Single Mutual Fund account any more ... and that is
good).

Once you have the new Quicken IRA account, use the Quicken "Shares
transferred between accounts" transaction to transfer your holdings from
each of the 3 separate IRA accounts to the new Quicken IRA brokerage
account.

> Another question--is it possible/recommended to mix IRAs and taxable

> investments in the same brokerage account?

Definitely not recommended. I doubt you can do it in the real-world, and
you shouldn't do it in Quicken either.

--

John Pollard

Posted by jrossitter on March 11, 2009, 6:08 pm

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> jrossit...@aol.com wrote:

> > > JRoss wrote:

> > > > I have 3 IRA accounts with the same fund group. All are set up in

> > > > Quicken as single mutual funds. Is it possible to combine them in

> > > > a new brokerage account?

> > > What year/version of Quicken?

> > > Do the existing Quicken accounts have a Cash Balance column or a

> > > Share Balance column?

> > > Do you download to the current accounts?

> > I updated yesterday to 2009 DLX from 2006 DLX.

> > The accounts have a Share Balance column.

> This means that they are true Quicken Single Mutual Fund accounts and you

> won't be able to combine them in any of the 3 existing accounts.

> > I don't believe this fund group (Dodge & Cox) has download capability.

> > (I have started downloads to another brokerage account I have with

> > fidelity.)

> So it won't matter to the financial institution what your Quicken account

> setup is.

> I think the simplest way to accomplish your goal is to create a new

> Quicken IRA account (I don't believe you can create a Quicken IRA account

> that is also a Quicken Single Mutual Fund account any more ... and that i=

> good).

> Once you have the new Quicken IRA account, use the Quicken "Shares

> transferred between accounts" transaction to transfer your holdings from

> each of the 3 separate IRA accounts to the new Quicken IRA brokerage

> account.

> > Another question--is it possible/recommended to mix IRAs and taxable

> > investments in the same brokerage account?

> Definitely not recommended. =EF=BF=BDI doubt you can do it in the real-wo=

rld, and

> you shouldn't do it in Quicken either.

> --

> John Pollard

Thanks, John