If an account is not updating due to problems with the bank, broker, or our linking partner, you can change the account balance, and the program will keep that balance until you change it again or until the account begins updating [...]
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168 ArticlesIf an investment account contains both equities and municipal bonds, should the entire account be set to Tax-Free Interest?
No. If the entire account is set to Tax-Free Interest, WealthTrace will not currently treat capital gains and dividends from the taxable investments in that account as taxable.How you should enter the account depends on whether it is linked or manually added.Linked AccountsIf the account is linked, set the Account Type to Taxable rather than Tax-Free Interest.Then use the setting:Is a portion of [...]
The Annual Return assumption changed overnight for one of my linked accounts. Why did this happen?
WealthTrace will assign the annual return based on an investment account's holdings, asset classes, and the default annual return assumptions for each asset class. For more information on asset class annual return assumptions, go . For linked accounts, the holdings can change based on market movements and/or trades. When the holdings in an account change, the annual return can also change based on [...]
Can I force an update of my linked accounts during the day?
Linked accounts update automatically every night. However, if you want to refresh the balances and holdings during the day you can do this by re-entering your credentials for the bank or broker. Basically you link the account as if you were linking from scratch. But because the account is already linked, we simply update the balance and holdings at that [...]
I want to manually add the holdings that make up my investment accounts and have the balances update each time I log in without linking them. How do I do this?
You can enter your holdings using the ticker symbols. WealthTrace will fetch the most recent price for each holding and apply that to the balance. If the number of shares of a holding changes, you must manually update this. You can see how to enter multiple holdings manually in the screenshots below. Note that you do not need to update any of this information if you link your [...]
Why is a holding in my linked account showing the wrong asset class?
For linked accounts, WealthTrace receives holding information from the financial institution. In some cases, a broker may send a holding with an incorrect asset class.You can update the asset class manually by opening the account and selecting Account Holdings. Select the holding with the incorrect asset class and update it to the appropriate classification.WealthTrace will remember your updated [...]
Why is WealthTrace using taxable account principal when income appears sufficient?
This can happen when a withdrawal from a taxable account generates capital gains taxes. WealthTrace may use additional principal from that same account to pay the taxes created by the withdrawal.As a result, it may appear that the program is drawing from the account balance even when dividends, interest, Social Security, pensions, or other income are available elsewhere.WealthTrace currently [...]
How does account linking work in WealthTrace?
When you link an account in WealthTrace using Yodlee or Plaid, you are giving WealthTrace a secure, read-only connection to your financial institution, like your bank, brokerage, or retirement account.Here’s how it works:Link your account – On the WealthTrace dashboard, click the plus sign next to Investment Accounts and select the option to link an account.Select a connection provider – You will [...]
Is cost basis used and can I enter the cost basis for investments?
Yes, the cost basis is used for tax calculations if you are projected to spend down principal for taxable accounts. If the account is linked, the cost basis updates every day automatically. If you manually enter an account, you can enter the cost basis as you see in the screenshot [...]
I have a linked account that hasn't updated in a few days. What do I do to fix this?
On the dashboard, hover over the warning icon next to the account that is not updating and you will see the reason for the linking failure. Normally you will be asked to re-enter your credentials for the financial institution. Click the warning icon to bring up the window to re-enter [...]