Brokered CD prices on Schwab

[hbla]

I have some brokered certificates of deposit in a Schwab brokerage account. For a particular example: when I click on the CD name in Fund Manager, the pop-up window shows an initial purchase at a price of 1.000 (A purchase of $9,000 in CDs shows a total of 9,000 shares at price of 1.000 for a Total of $9,000.) However, at the bottom of the screen it shows Share Balance of 9,000.000 and a Market Value of $880,105.50. So, the 9,000.000 apparently is multiplied by 97.7895, instead of .977895.

This pricing seems to be set by retrieve transactions, and not retrieve prices. So, I cannot adjust it by ticking the box "Multiply Retrieved Price by" in the Investment Properties - Internet Retrieve popup.

For Brokered CDs, is there some way to adjust the number of shares or the price from retrieved transactions?

I also have Treasury Notes in a Schwab brokerage account, and the pricing for them works fine in Fund Manager.

Online, it looks like Schwab records both brokered CDs and Treasury Notes the same way and makes the pricing adjustment to both. For example, for a brokered CD, it shows quantity 1,000 / price 99.5441 / market value $995.44. For a Treasury Note, it shows quantity 2,000 / price 97.14062 / market value $1,942.81.

[ricbertsch]

Just wondering - Are you downloading the transactions from Schwab or manually entering the initial transactions? We use Schwab and have no problem with the initial buy transaction as they are usually priced at $100 on the import. So $16k in CD would be 160 Shares.

[hbla]

I'm downloading the transactions from Schwab, not entering manually.

Yesterday, I bought a $1,000 brokered CD in a Schwab brokerage account (IRA).

Today, I did a Transaction Retrieve. The popup for Preview Importing Transactions shows the CD as
Date: 6/2/23
Type: Buy
Investment Name: [Name of the Bank/CD]
Shares: 1000.000
Price: 1.000
Total: 1,000.000

After the import, in the Portfolio Editor Screen for that account, it shows the CD as
Name: [Name of the Bank/CD]
Symbol: [CUSIP?]
Type: Other
Retrieve Price: Yes
Price: 99.728
Shares: 1000.000
Value: 99,728.00

I'm a new user of Fund Manager. I don't think I had changed any global settings. Is there some setting I should look at it?

[ricbertsch]

We are still atT D Institutional where we are now is transitioning over to Schwab and still using the TD Import files, so perhaps and hopefully not Schwab is different.

Following is the transaction import that I received for a recent $1,000 CD from TD.
Date Price Shares Total Fee Type Memo
5/31/23 100.000 10.000 1,000.00 0.00 Purchase ,|AMERIS BANK CD 5.3% 09/11/2023 BUY TRADE 1 @100 TRBY

A CD of $1,000 may be priced at $100 a unit, $10 or $1,000 a unit. In above case it was $100 so the purchase was for 10 units.

Other Schwab Advisor FM users buying CDs may be better off answering this if there import is different.

[hbla]

Hi ricbertsch, Thanks for the comments. I am using Fund Manager Software - Personal, not Professional or Advisor. For me, the pricing error shows up when I look at the Portfolio Editor Screen.

[Mark]

Hi hbla,

Could you send me the log file from "Help / Logs / Transaction Retrieve (Raw)..."? First, retrieve just this one account for the one date you bought the CD. You can Cancel at the Preview Importing Transactions screen, and the log file will still be created okay. Please also mention the CUSIP of the CD in question. I'll send you an email, so you can reply to that, or send it via PM on this forum.

[hbla]

Hi Mark,

Thanks for responding so quickly! I sent you a PM.

[Mark]

Hi hbla,

Thanks for the log file. I see the same issue, and we'll get it fixed for the next release. It will require a program update, we can't fix this in just a transaction module. If you'd like to test a pre-release with this fix, please let me know. If you'd like to correct this issue manually for the already retrieved transactions, here is how you can do it:

Modify your transactions, so the price is multiplied by 100, and the shares are divided by 100, such that the value remains the same. This is similar to how bonds are recorded. Schwab is reporting the price near 100 (not 1), so to be consistent with this, the number of shares needs to be 1/100th to get the value correct. Your recorded prices should remain unchanged, near the 100 level.

[hbla]

Hi Mark,

Thank you! The manual correction works! (In Fund Manager, I clicked on the CD name, and got the popup of the Data Register. For the purchase of the $1,000 CD, I changed the number of shares to 10, and the price to $100. The market value in Fund Manager then updates to match the market value in my online Schwab account. E.g., market price of $99.606 results in a market value of $996.06 for the CD.)

Question: For future Transaction Retrieves, to avoid overwriting my manual correction, should I make sure the date range is after the date of the CD purchase transaction that I corrected?

I'll PM you about testing the pre-release.

[Mark]

Question: For future Transaction Retrieves, to avoid overwriting my manual correction, should I make sure the date range is after the date of the CD purchase transaction that I corrected

Yes, exactly. By default when you retrieve at a particular sub-portfolio, the start date will be set to the appropriate point based on when you last retrieved that sub-portfolio.

[hbla]

Following up on this thread. Fund Manager version 2022.17.7.100 fixed the issue for me. Thank you, Mark!