Managed Account

[rm_organ]

I have a new fidelity tax managed account. I tried using the portfolio Wizard to set it up. It stopped working after some number of investments were downloaded. I assume maybe as a retail user there is a limit - seems unfortunate as this is a perfectly good use case.

Anyway, the wizard is now stuck and won't let me back out. It "'allowed" me to abandon the setup, but has now brought me back to a "Setup Method" screen that allows 4 choices
-Retrieve Transactions and Positions
-Retrieve Transactions Only
-Retrieve Positions Only
-Manually Enter Positions

None seem to let me progress.

If my assumption about being a retail user (and not a manager), what is your best guidance to tacking this type of account? Either way,what is the best way to get out of this hung process - other than a "hard close" on the program?

Thanks.

[Mark]

Hi rm_organ,

What specifically stopped working? Did you get some error message, or what couldn't you do?

If you're using the Personal version, there is a limit of 500 total investments being open at once. Maybe this is the limit you reached?

On the "Setup Method" page in the New Portfolio Wizard, can you press the "Cancel" button at the bottom?

[rm_organ]

Somehow my app closed overnight.

Went back in to replicate and it let me download all.

The part that got hung up yesterday was at the screen with the options in the first post. It would not let me "close portfolio wizard".

Any chance you can increase the number of Open Investments for a Personal Version? I'm a long time user (20+ years) and only do my own investments, but with this tax managed account, I could see the number of investments increasing over time as they seek to buy/sell when advantageous from a tax perspective.

[Mark]

Hi rm_organ,

Okay, glad it seems to be working now. We offer a reasonably priced "Professional" version that allows up to 5,000 investments, as compared to the 500 investments you get with the "Personal" version. You can upgrade easily if that is something you want.

[rm_organ]

If you are online, I am having the same issue tonight.
Is the 500 investments per "master" portfolio, portfolio, or per account?
I got the domestic account to load- 250 investments.

Should I have to do a professional account, when I am an individual investor? Seems like that could be included? I can understand if you are trying to prevent "professionals" from a way of circumventing, but these two accounts I am adding are "tax managed" to replicate the S&P and International index, with less holdings. I'm still just an an individual investor.

I am again stuck in the new portfolio wizard and it will not let me "quit" the wizard.

[Mark]

Hi rm_organ,

The 500 investment limit is total open at one time. You can right mouse click on your topmost sub-portfolio (probably called "Master Portfolio") and look at the "Properties...". Towards the bottom half, under "Statistics" it will show how many investments it contains. This is the number that is limited to 500. The different versions offer different features, and you can choose based on the features. It doesn't mean you are a professional trader, but that is just the name we gave it for that feature set.

It sounded like you got it set up yesterday okay with the New Portfolio Wizard? Is there some reason you are running the New Portfolio Wizard more than once for an account?

What screen are you in, where you are stuck? Do you get some error message when the problem starts?

[rm_organ]

I'm not running twice for the same account.

I have two separate tax managed accounts. One is domestic, one is international.

I think what happened was the international got set up in my first attempt, then the domestic failed bc too many investments opened. Then the program crashed and the international did not save. I did not notice that and went to do the domestic. It loaded. Then, when I went to do the international, it failed bc too may investments were opening.

Seems like I just can't load both.

It does hang on "close portfolio wizard". Can't get it to close at all.

[Mark]

If you wanted, you could track them in separate portfolio files (*.mm4) with the Personal version, as long as each has < 500 investments. This would mean only 1 account is open at a time, so you couldn't see everything together, but this is an option. Putting them both in the same portfolio file would be a problem if you have > 500 between all accounts. Or, upgrade to Pro.

Does the problem with not being able to cancel only happen after you've run into the maximum investment limit? Do you get any error messages when hitting the limit?