Vanguard Brokerage Services (VBS) reinvest dividends entered in Q wrong?

Posted by Andrew on July 4, 2009, 11:46 am

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Is it just me, or did the latest batch of reinvested dividends downloaded
from VBS only come into Q as DIVIDENDS, and not reinvested dividends? (Cash
balance in the investment account is increased, but this mismatches the VBS
share balance now, so Q creates Placeholders....bummer!).

VBS did say they're quotes are as of last Wed, not EOD Thursday. Maybe their
switchover from Pershing isn't flowing smoothly? I'll give them a NYSE day
to fix this before calling...although I don't know what I can do besides
manually editing the previous wrong transactions to fix them to this point.
--
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Regards -

- Andrew

Posted by JMc on July 4, 2009, 2:53 pm

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All my funds that posted "ReinvDiv" for COB 6/30/09 are properly posted.
Between retail accounts and 401K that amounts to only six different funds.
Small sample, but at least a simple indicator for you to continue to sort
what happened in your case.

Jere

> Is it just me, or did the latest batch of reinvested dividends downloaded

> from VBS only come into Q as DIVIDENDS, and not reinvested dividends?

> (Cash balance in the investment account is increased, but this mismatches

> the VBS share balance now, so Q creates Placeholders....bummer!).

> VBS did say they're quotes are as of last Wed, not EOD Thursday. Maybe

> their switchover from Pershing isn't flowing smoothly? I'll give them a

> NYSE day to fix this before calling...although I don't know what I can do

> besides manually editing the previous wrong transactions to fix them to

> this point.

> --

> -------------------------------------------------------------

> Regards -

> - Andrew

Posted by Andrew on July 5, 2009, 11:42 am

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JMc wrote:

> All my funds that posted "ReinvDiv" for COB 6/30/09 are properly

> posted. Between retail accounts and 401K that amounts to only six

> different funds. Small sample, but at least a simple indicator for

> you to continue to sort what happened in your case.

> Jere

>> Is it just me, or did the latest batch of reinvested dividends

>> downloaded from VBS only come into Q as DIVIDENDS, and not

>> reinvested dividends? (Cash balance in the investment account is

>> increased, but this mismatches the VBS share balance now, so Q

>> creates Placeholders....bummer!). VBS did say they're quotes are as of

>> last Wed, not EOD Thursday.

>> Maybe their switchover from Pershing isn't flowing smoothly? I'll

>> give them a NYSE day to fix this before calling...although I don't

>> know what I can do besides manually editing the previous wrong

>> transactions to fix them to this point.

>> --

>> -------------------------------------------------------------

>> Regards -

>> - Andrew

The transactions in question were dated 1 July 2009. They're clearly listed
on the Vanguard webpage as DIVIDENDS under recent transactions, not
REINVESTED. So I don't think it's Q's problem - perhaps the sweep to
reinvestments hasn't happened yet, I'll check with them after COB tomorrow
if I don't see they're website updated. But Q was smart enough to put the
PLACEHOLDERs in, that's what bothers me. More later.

--
-------------------------------------------------------------
Regards -

- Andrew

Posted by Andrew on July 6, 2009, 7:19 pm

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re/Downloads from Quicken from Vanguard that should have been dividend
*reinvestment* transactions rather than Dividend Transactions followed by a
Cash removal followed by a Quicken generated PLACEHOLDER since the number of
shares is wrong.

I spoke to 'Brian' today at Vanguard. It's a known problem. No ETA on the
resolution. They added my email address to the list of interested parties
so that I'd be notified when (I hope not 'if'!) the problem is rectified.

Stay tuned.

--
-------------------------------------------------------------
Regards -

- Andrew (no, not *that* one!)

Posted by Andrew on July 6, 2009, 7:52 pm

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Andrew wrote:

> re/Downloads from Quicken from Vanguard that should have been dividend

> *reinvestment* transactions rather than Dividend Transactions

> followed by a Cash removal followed by a Quicken generated

> PLACEHOLDER since the number of shares is wrong.

> I spoke to 'Brian' today at Vanguard. It's a known problem. No ETA

> on the resolution. They added my email address to the list of

> interested parties so that I'd be notified when (I hope not 'if'!)

> the problem is rectified.

> Stay tuned.

I also should note Vanguard said not to touch the original transactions
until the fix is delivered. (Not sure why, but maybe if I manually changed
them to reinvestments I'd end up duplicating the shares being added if they
add them as part of their 'fix'. I doubt they'd try (or even could, as far
as Q is concerned) to 'fix' transactions already downloaded with a date of a
week ago....)

--
-------------------------------------------------------------
Regards -

- Andrew