Re Turbotax acct numbers
To download account info such as 1099 and stock trades they need your account number and usually password. One would hope all that is encrypted and not saved. Only the data goes in your tax return.
How much interest did you lose on 900k times 2 weeks.
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How much interest did you lose on 900k times 2 weeks.
Iâll let intercst answer for his case but, in general, I would assume if the ONLY thing that happened was a victimâs account was transfered to another brokerage, any individual stocks or CD holdings wouldnât have changed and one wouldnât lose dividends or interest payments. I would also assume the source brokerage that screwed up by allowing the transfer would make up any interest due on cash sitting in the account.
The dilemma for people to consider about this scenario is what if one of your major holdings in the brokerage account made a major move during the two week limbo when you were unable to trade on your account? If you had $100k in stock X and, a day after someone absconded with your assets by transfering the account, the stock began dropping 10% over that period, you would have been unable to issue a sell order to lock in your gains or avoid losses.
When these lazy brokerages opt to skip fixing their lax systems and just âmake people wholeâ after an incident occurs, all they can do is make you whole on your cash, interest on the cash and the NUMBER of shares of your various positions. I doubt any brokerage will make you whole on lost trading opportunities. How are you going to prove to them you would have made a trade?
WTH
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Account activity alerts
Receive an immediate text message or email if we discover certain transactions and profile changes made to your account.
How do these alerts work?
You can elect to be immediately notified by text message or email every time thereâs activity on your account, including:
** Changes to your account information.*
** Account transactionsâpurchases, sales, or exchanges.*
** Transfers into or out of your account.*
To choose your alert type and delivery method settings, simply log on to your account and go to the account activity alerts section.
Am I eligible for account activity alerts?
If youâre a Vanguard client with an individual account or you have a Vanguard employer-sponsored retirement plan account, you can enroll in this service. If youâd like to receive alerts by text message rather than email, youâll need to use a domestic mobile number.
If thereâs activity on your account you donât recognize, call us immediately at 877-223-6977 or send an email to fraud@vanguard.com.
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Thatâs good to know. Hopefully mine will follow suit. Why didnât intercst get an alert? In the off chance he wasnât âsigned up forâ getting alerts why did the person on the phone tell him directly he wouldnât get one for an exchange anyway?
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Well I just spent some time on my brokerâs poorly designed website and signed up for alerts on everything happening with or to my account except stock prices updates for my holdings.
Why would the person I talked to 2 weeks ago not know of these things�??
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None. Most of it was two mutual funds. I got the same number of shares back. I had about $10,000 in a MMF. Vanguard says Iâll get my dividends credited to the account like the money was there all along.
The only downside is that if I was trading the account, then I wouldnât have been able to make any trades on the money for the two weeks.
intercst
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The Account Activity Alert doesnât protect you against an ACATS asset transfer theft. Broker-to-broker asset transfers are executed immediately upon receipt. Vanguard is sending you the text alert after the horse has left the barn.
Thatâs the Big Problem with Vanguard.
Fidelity has their âMoney Transfer Lockdown (MTL)â feature. I donât know if that shuts down these ACATS broker-to-broker asset transfers since by design, they appear to be executed without any scrutiny.
intercst
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I have accounts at both Fidelity and Vanguard for this basic reason. If something gets screwed up at least access to some of my money.
I wonder if I should ditch Vanguard and move to a more secure brokerageâŚ
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They all use the ACATS system.
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I actually CHECKED my turbotax before I posted my comment. They include the full account numbers in the worksheets, so it is all saved in the files they create.
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I got a visit from the Countyâs Adult Protective Services this morning as a result of reporting that ACATS transfer theft to the police three weeks ago. They administered a cognitive test on me (i.e., I had to draw a picture of a clock with the hands at 10:50 AM) and left a brochure with a list of about a dozen social services I could access (Meals on Wheels, Legal Services, etc.)
Thatâs good to see. The Social Services in Washington State appear to be top notch.
intercst
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My MIL had to go to the ER for an issue a while back. Adult protective services dropped by a few days later to check in.
My SIL was all freaked out thinking she was on the naughty list or something, but I told her no, this is a good thing. It means the state is making sure our seniors donât fall through the cracks. SIL continued to be freaked out anyway.
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"They administered a cognitive test on me (i.e., I had to draw a picture of a clock with the hands at 10:50 AM) "
dang, youâre qualified to be President now !! lol
( tfg always bragging about passing that test )
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As they say, sharp as a tack.
DB2
Would they look any different if he had to draw a clock showing
10:50 PM�
Thatâs the test, right there.
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Thanks for giving away the testâŚI can now go practice in case I need it.
Did you draw a digital clock with 7 segments per digit? Or an analog clock?
Mike
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With many digital clocks, there would be a dot for AM/PM.
