AccountSync & Fidelity Investment Accounts -Part Ii
JDunham on
I agree with everything you've said. Which is why I'm trying to figure out how to make that happen at Fidelity. Our club has a separate EIN which was provided to Fidelity when opening the account. Howver, because I'm an authorized owner/person on both accounts Fidelity forced the link between the club account and my personal accounts . So both are accessible via a single login. I'm looking for the solution to separate them. .
How did you accimplished that separation at Fidelity brokerage. Are your personal and club accounts both located at Fidelity and are you listed as a authoriized owner on both? if so who did you get that separation so that they can be accessed separately?
The significant issue is to get an a EIN (employer identification number) from the IRS and establish the broker account in the name of the club under the club EIN.
The club should open the brokerage account in its behalf using the
club EIN, (NOT you using your SSN).
Deposits can be made via us mail to the brokerage, or via direct deposit or electronic check or electronic transfer depending on what the brokerage allows foe investment clubs.
I admit I am somewhat puzzled by the implications of your question. In my view, there should never be a circumstance where personal and club account access and positions are commingled. Period.
It may happen that the person or persons authorized to transact on the club's behalf may have an account with the same brokerage, but there should be no establishment of linked accounts.
In my personal portfolio, I had both an IRA and a regular account and I was able to link the accounts to view one while in the other. That is entirely a different circumstance from what you are proposing.
Finally, while the club will have a brokerage account for the
club, only
select folks may view or transact within that account
, not the entire club membership
.
Brokerages will establish a club account in the name of the club with particular persons, authorized via signature card and brokerage documents, to view and transact on behalf of the club
.
Since the account is a club account, there is no exposure of personal account information.
Please do read the various "how to" documents on the bivio site. I recommend getting a library copy of investment clubs for dummies, or the like. Both will provide a clearer description of club accounting processes.
I recently setup a Fidelity account to use with my Bivio account. Particularly, those clubs where multiple Fidelity accounts are involved including some personal accounts which are owned by an individual authorized to transact on behalf of the club. I'm curious how you handled the requirement to provide login information so that Account sync can electronically access the fidelity account without exposing you personal account information. I'm also interested in how you may deposits to the investment account. Finally, I'd like to know what type of fidelity account you setup. Is it a personal, joint or business/partnership account.
I hope to learn from you to avoid mistakes going forward. Thanks in advance.
Ann O'Neill on
I would talk to fidelity - we had the same situation. At a club members request we removed one club member as an authorized signer who had a personal account.
I agree with everything you've said. Which is why I'm trying to figure out how to make that happen at Fidelity. Our club has a separate EIN which was provided to Fidelity when opening the account. Howver, because I'm an authorized owner/person on both accounts Fidelity forced the link between the club account and my personal accounts . So both are accessible via a single login. I'm looking for the solution to separate them. .
How did you accimplished that separation at Fidelity brokerage. Are your personal and club accounts both located at Fidelity and are you listed as a authoriized owner on both? if so who did you get that separation so that they can be accessed separately?
The significant issue is to get an a EIN (employer identification number) from the IRS and establish the broker account in the name of the club under the club EIN.
The club should open the brokerage account in its behalf using the
club EIN, (NOT you using your SSN).
Deposits can be made via us mail to the brokerage, or via direct deposit or electronic check or electronic transfer depending on what the brokerage allows foe investment clubs.
I admit I am somewhat puzzled by the implications of your question. In my view, there should never be a circumstance where personal and club account access and positions are commingled. Period.
It may happen that the person or persons authorized to transact on the club's behalf may have an account with the same brokerage, but there should be no establishment of linked accounts.
In my personal portfolio, I had both an IRA and a regular account and I was able to link the accounts to view one while in the other. That is entirely a different circumstance from what you are proposing.
Finally, while the club will have a brokerage account for the
club, only
select folks may view or transact within that account
, not the entire club membership
.
Brokerages will establish a club account in the name of the club with particular persons, authorized via signature card and brokerage documents, to view and transact on behalf of the club
.
Since the account is a club account, there is no exposure of personal account information.
Please do read the various "how to" documents on the bivio site. I recommend getting a library copy of investment clubs for dummies, or the like. Both will provide a clearer description of club accounting processes.
I recently setup a Fidelity account to use with my Bivio account. Particularly, those clubs where multiple Fidelity accounts are involved including some personal accounts which are owned by an individual authorized to transact on behalf of the club. I'm curious how you handled the requirement to provide login information so that Account sync can electronically access the fidelity account without exposing you personal account information. I'm also interested in how you may deposits to the investment account. Finally, I'd like to know what type of fidelity account you setup. Is it a personal, joint or business/partnership account.
I hope to learn from you to avoid mistakes going forward. Thanks in advance.
Irina Clements on
Ok, this sounds like confusion on the part of Fidelity regarding a personal and club account.
I would call them..or visit in person if there is a branch near you to "in-commingle/unlink" [sic] the accounts at your earliest convenience.
I would bring identification, and club partnership agreement to establish the need for account separation regardless of the coincidence that the club access person also has an individual brokerage account.
This appears to be a Fidelity goof up that will only get more untenable the more time passes.
I would talk to fidelity - we had the same situation. At a club members request we removed one club member as an authorized signer who had a personal account.
I agree with everything you've said. Which is why I'm trying to figure out how to make that happen at Fidelity. Our club has a separate EIN which was provided to Fidelity when opening the account. Howver, because I'm an authorized owner/person on both accounts Fidelity forced the link between the club account and my personal accounts . So both are accessible via a single login. I'm looking for the solution to separate them. .
How did you accimplished that separation at Fidelity brokerage. Are your personal and club accounts both located at Fidelity and are you listed as a authoriized owner on both? if so who did you get that separation so that they can be accessed separately?
The significant issue is to get an a EIN (employer identification number) from the IRS and establish the broker account in the name of the club under the club EIN.
The club should open the brokerage account in its behalf using the
club EIN, (NOT you using your SSN).
Deposits can be made via us mail to the brokerage, or via direct deposit or electronic check or electronic transfer depending on what the brokerage allows foe investment clubs.
I admit I am somewhat puzzled by the implications of your question. In my view, there should never be a circumstance where personal and club account access and positions are commingled. Period.
It may happen that the person or persons authorized to transact on the club's behalf may have an account with the same brokerage, but there should be no establishment of linked accounts.
In my personal portfolio, I had both an IRA and a regular account and I was able to link the accounts to view one while in the other. That is entirely a different circumstance from what you are proposing.
Finally, while the club will have a brokerage account for the
club, only
select folks may view or transact within that account
, not the entire club membership
.
Brokerages will establish a club account in the name of the club with particular persons, authorized via signature card and brokerage documents, to view and transact on behalf of the club
.
Since the account is a club account, there is no exposure of personal account information.
Please do read the various "how to" documents on the bivio site. I recommend getting a library copy of investment clubs for dummies, or the like. Both will provide a clearer description of club accounting processes.
I recently setup a Fidelity account to use with my Bivio account. Particularly, those clubs where multiple Fidelity accounts are involved including some personal accounts which are owned by an individual authorized to transact on behalf of the club. I'm curious how you handled the requirement to provide login information so that Account sync can electronically access the fidelity account without exposing you personal account information. I'm also interested in how you may deposits to the investment account. Finally, I'd like to know what type of fidelity account you setup. Is it a personal, joint or business/partnership account.
I hope to learn from you to avoid mistakes going forward. Thanks in advance.
JAYNE GILBERT on
This is a simple matter that Fidelity can change quickly. Just a click on the computer. My investment club account also showed up on my personal Fidelity statement. It is a technology error and should be corrected with a phone call.
From: JDunham <jackdunham@aol.com> To: club_cafe@bivio.com Sent: Wednesday, April 9, 2014 8:27 AM Subject: Re: [club_cafe] AccountSync & Fidelity Investment Accounts -Part Ii
I agree with everything you've said. Which is why I'm trying to figure out how to make that happen at Fidelity. Our club has a separate EIN which was provided to Fidelity when opening the account. Howver, because I'm an authorized owner/person on both accounts Fidelity forced the link between the club account and my personal accounts . So both are accessible via a single login. I'm looking for the solution to separate them. .
How did you accimplished that separation at Fidelity brokerage. Are your personal and club accounts both located at Fidelity and are you listed as a authoriized owner on both? if so who did you get that separation so that they can be accessed separately?
The significant issue is to get an a EIN (employer identification number) from the IRS and establish the broker account in the name of the club under the club EIN.
The club should open the brokerage account in its behalf using the
club EIN, (NOT you using your SSN).
Deposits can be made via us mail to the brokerage, or via direct deposit or electronic check or electronic transfer depending on what the brokerage allows foe investment clubs.
I admit I am somewhat puzzled by the implications of your question. In my view, there should never be a circumstance where personal and club account access and positions are commingled. Period.
It may happen that the person or persons authorized to transact on the club's behalf may have an account with the same brokerage, but there should be no establishment of linked accounts.
In my personal portfolio, I had both an IRA and a regular account and I was able to link the accounts to view one while in the other. That is entirely a different circumstance from what you are proposing.
Finally, while the club will have a brokerage account for the
club, only
select folks may view or transact within that account
, not the entire club membership
.
Brokerages will establish a club account in the name of the club with particular persons, authorized via signature card and brokerage documents, to view and transact on behalf of the club
.
Since the account is a club account, there is no exposure of personal account information.
Please do read the various "how to" documents on the bivio site. I recommend getting a library copy of investment clubs for dummies, or the like. Both will provide a clearer description of club accounting processes.
I recently setup a Fidelity account to use with my Bivio account. Particularly, those clubs where multiple Fidelity accounts are involved including some personal accounts which are owned by an individual authorized to transact on behalf of the club. I'm curious how you handled the requirement to provide login information so that Account sync can electronically access the fidelity account without exposing you personal account information. I'm also interested in how you may deposits to the investment account. Finally, I'd like to know what type of fidelity account you setup. Is it a personal, joint or business/partnership account.
I hope to learn from you to avoid mistakes going forward. Thanks in advance.
John W Ranby on
I don't understand the concern over having one login that
provides access to all the accounts you have power over. The
accounts themselves are separate; ownership of the assets in
the accounts is separate; the individual has the same power
to buy and sell whether the person gains access through one
login or two. Your broker probably has access to hundreds of
his clients accounts through one employee login; that does
not change the ownership of the accounts.
From the brokerage firms perspective, the login is a means
for them to control and track accountability for a specific
person. Whether that person is authorized to perform
transactions on one or many accounts, controlling their
access through one login makes for a simplier business
model.
In my club, three officers are authorized access to the
brokerage account. It so happens that two of the three also
have their personal accounts at the same brokerage. I am one
of them. I have one login; I can see my personal accounts
and the club's account. The other officer whose personal
accounts are at the same brokerage, has his personal login
where he sees his accounts and the club account. Just
because the Club account is linked to each of our logins
does not allow us to see each others personal accounts. The
third officer has a login that only sees the club account.
What is the problem?
I hope the folks promoting a separate login for the Club
account are not advocating a Club-only login that is shared
by the officers authorized to manage the account. I.e., one
login and password for the club account that two or more
folks use. Such an arrangement would mean tha inability to
determine who performed a specific transaction.
Jack Ranby, Treasurer
Grants Partners Investment Club
JDunham on
John,
As a newbie to bivio, first let me say that I'm impressed by the community support provide by members to members. It's refreshing.
The main concern I have is the need to provide my personal login information to AccountSync so that "it" can electronically retrieve transactional data from the club account which happens to be co-located with my personal accounts. That login grants access to all my Fidelity accounts, not just the club's account. This would remove all the security in place to keep my accounts and financials secure, since by providing the login I've basically given card blanche access via AccountSync; and there would be no way to decerne whether it was Me accessing the account or AccountSync. So, I'm trying to figure our how to mitigate that exposure and limit access just to the club's Fidelity account.
I am not worried about the broker (Fidelity), nor would I share my login with other club members. In fact they have their own logins that provide inquiry access. This only has to do with providing that information to AccountSync. Have you provided your personal login information to AccountSync? Is that how you get transactional data into bivio or do you enter it manually?
Perhaps, this login issue is a limitation/constraint only at Fidelity. I could move the club account to an entirely separate brokerage firm where there are no personal accounts involved. But since I'm familiar w/ Fidelty as a customer, my preference would be to have it all there.
-----Original Message-----
From: John W Ranby <ranby@azbar.org>
To: club_cafe <club_cafe@bivio.com>
Sent: Wed, Apr 9, 2014 11:38 am
Subject: [club_cafe] Re: AccountSync & Fidelity Investment Accounts -Part Ii
I don't understand the concern over having one login that
provides access to all the accounts you have power over. The
accounts themselves are separate; ownership of the assets in
the accounts is separate; the individual has the same power
to buy and sell whether the person gains access through one
login or two. Your broker probably has access to hundreds of
his clients accounts through one employee login; that does
not change the ownership of the accounts.
From the brokerage firms perspective, the login is a means
for them to control and track accountability for a specific
person. Whether that person is authorized to perform
transactions on one or many accounts, controlling their
access through one login makes for a simplier business
model.
In my club, three officers are authorized access to the
brokerage account. It so happens that two of the three also
have their personal accounts at the same brokerage. I am one
of them. I have one login; I can see my personal accounts
and the club's account. The other officer whose personal
accounts are at the same brokerage, has his personal login
where he sees his accounts and the club account. Just
because the Club account is linked to each of our logins
does not allow us to see each others personal accounts. The
third officer has a login that only sees the club account.
What is the problem?
I hope the folks promoting a separate login for the Club
account are not advocating a Club-only login that is shared
by the officers authorized to manage the account. I.e., one
login and password for the club account that two or more
folks use. Such an arrangement would mean tha inability to
determine who performed a specific transaction.
Jack Ranby, Treasurer
Grants Partners Investment Club
Laurie Frederiksen on
Dear Jack,
AccountSync is a highly secure service. Your login and password
are stored in our database in an encrypted form to which only three
people have the key. Our Internet security experts are some of the
best in the industry. Moreover, our servers are in a locked cabinet,
in a facility which is manned round the clock. Entry is protected
by biometric locks.
It is extremely unlikely that an employee of your brokerage or bivio
would misappropriate funds. We can trace all actions that happen on
our website. Your brokerage can do the same. No one can obtain money
from your brokerage account without leaving a long and detailed trail.
Account misappropriation is a serious crime.
We are in our 15th year of providing our services and have not had any instances of invalid access to brokerage accounts.
If that is not sufficient explanation to put your mind at ease, you can always
enter your club transactions manually. That is easy to do using the buttons you'll find on the Accounting>Accounts, Accounting>Investments and Accounting>Members pages.
Laurie Frederiksen Invest with your friends! www.bivio.com
As a newbie to bivio, first let me say
that I'm impressed by the community support provide by members to
members. It's refreshing.
The main concern I have is the
need to provide my personal login information to AccountSync so that "it" can
electronically retrieve transactional data from the club account which happens
to be co-located with my personal accounts. That login grants access to
all my Fidelity accounts, not just the club's account. This would remove
all the security in place to keep my accounts and financials secure, since by
providing the login I've basically given card blanche access via AccountSync;
and there would be no way to decerne whether it was Me accessing the account
or AccountSync. So, I'm trying to figure our how to mitigate that
exposure and limit access just to the club's Fidelity account.
I
am not worried about the broker (Fidelity), nor would I share my login with
other club members. In fact they have their own logins that provide
inquiry access. This only has to do with providing that information to
AccountSync. Have you provided your personal login information to
AccountSync? Is that how you get transactional data into bivio or do you
enter it manually?
Perhaps, this login issue is a
limitation/constraint only at Fidelity. I could move the club account to
an entirely separate brokerage firm where there are no personal accounts
involved. But since I'm familiar w/ Fidelty as a customer, my preference
would be to have it all there.
Carole Jansen on
I am not sure you have received an answer to your question, but I also have a personal IRA at Fidelity and was also the authorized person (as Treasurer) on an investment club account at Fidelity. Both accounts showed on my online page when I logged in using my personal log-in, but the other partners in the investment club did not have my personal log-in information and therefore, could not access my personal IRA or any information about it. The log-in I set up for the investment club, and provided to Bivio, was a separate login for the investment club account.
Hope this helps.
Carole.
From: Jim Thomas <jimt075@comcast.net> To: club_cafe@bivio.com Sent: Wednesday, April 9, 2014 3:08 PM Subject: Re: [club_cafe] Re: AccountSync & Fidelity Investment Accounts -Part Ii
> In fact they have their own logins that
provide inquiry access. <
Have you tried using one of those inquiry-only
logins with AccountSync?
As a newbie to bivio, first let me say
that I'm impressed by the community support provide by members to
members. It's refreshing.
The main concern I have is the
need to provide my personal login information to AccountSync so that "it" can
electronically retrieve transactional data from the club account which happens
to be co-located with my personal accounts. That login grants access to
all my Fidelity accounts, not just the club's account. This would remove
all the security in place to keep my accounts and financials secure, since by
providing the login I've basically given card blanche access via AccountSync;
and there would be no way to decerne whether it was Me accessing the account
or AccountSync. So, I'm trying to figure our how to mitigate that
exposure and limit access just to the club's Fidelity account.
I
am not worried about the broker (Fidelity), nor would I share my login with
other club members. In fact they have their own logins that provide
inquiry access. This only has to do with providing that information to
AccountSync. Have you provided your personal login information to
AccountSync? Is that how you get transactional data into bivio or do you
enter it manually?
Perhaps, this login issue is a
limitation/constraint only at Fidelity. I could move the club account to
an entirely separate brokerage firm where there are no personal accounts
involved. But since I'm familiar w/ Fidelty as a customer, my preference
would be to have it all there.
John W Ranby on
Jack D and others:
Just to put a conclusion to this discussion as far as
Charles Schwab is concerned, I offer the following
information.
I have discussed this issue with Schwab. The representative
escalated the issue within operations, and he finally
received the answer that Schwab would not issue a second
login profile in this situation at this time.
Schwab will issue a distinct profile when the account is
owned by a corporation; but not a partnership. The Schwab
representative I spoke with agreed that a partnership is a
distinct legal entity similar to a corporation, and that the
same reasons for allowing a separate profile for a
corporation would apply to a partnership.
He believes further discussions may occur regarding this
issue and a change may occur in the future. But for now, the
answer was no.
His suggestion for a solution would be to have a club
partner who does not have personal accounts at Schwab be an
authorized person on the Club account, obtain his own
profile for the club account, and use it for purposes of
autosync in bivio.
I will be interested in learning what answer comes from
other brokerage firms.
Jack Ranby, Treasurer
Grants Partners Investment Club
JDunham on
That's exactly what I want to do, is set up a separate login for the investment club account. The Fidelity folks keep telling me I can't do that. How did you accomplish it? They tell me, every login has to be associated w/ a person and every person can only have one login.
I am not sure you have received an answer to your question, but I also have a personal IRA at Fidelity and was also the authorized person (as Treasurer) on an investment club account at Fidelity. Both accounts showed on my online page when I logged in using my personal log-in, but the other partners in the investment club did not have my personal log-in information and therefore, could not access my personal IRA or any information about it. The log-in I set up for the investment club, and provided to Bivio, was a separate login for the investment club account.
Hope this helps.
Carole.
From: Jim Thomas <jimt075@comcast.net> To:club_cafe@bivio.com Sent: Wednesday, April 9, 2014 3:08 PM Subject: Re: [club_cafe] Re: AccountSync & Fidelity Investment Accounts -Part Ii
> In fact they have their own logins that
provide inquiry access. <
Have you tried using one of those inquiry-only
logins with AccountSync?
As a newbie to bivio, first let me say
that I'm impressed by the community support provide by members to
members. It's refreshing.
The main concern I have is the
need to provide my personal login information to AccountSync so that "it" can
electronically retrieve transactional data from the club account which happens
to be co-located with my personal accounts. That login grants access to
all my Fidelity accounts, not just the club's account. This would remove
all the security in place to keep my accounts and financials secure, since by
providing the login I've basically given card blanche access via AccountSync;
and there would be no way to decerne whether it was Me accessing the account
or AccountSync. So, I'm trying to figure our how to mitigate that
exposure and limit access just to the club's Fidelity account.
I
am not worried about the broker (Fidelity), nor would I share my login with
other club members. In fact they have their own logins that provide
inquiry access. This only has to do with providing that information to
AccountSync. Have you provided your personal login information to
AccountSync? Is that how you get transactional data into bivio or do you
enter it manually?
Perhaps, this login issue is a
limitation/constraint only at Fidelity. I could move the club account to
an entirely separate brokerage firm where there are no personal accounts
involved. But since I'm familiar w/ Fidelty as a customer, my preference
would be to have it all there.
Linda TerHaar on
Our club has a treasurer and an assistant treasurer (this is for the
sake of smooth succession, when we change officers). Our current
treasurer has her own Fidelity account and our club's account is with
Fidelity as well. She was assistant treasurer for the 5 years I was
treasurer, and has now been treasurer for 2 - 3 years.
We, too, were a little startled when she first realized her login was
for both her personal account and the club account. However, we found
it to be a non-issue. Our experience with our login IDs bears out
precisely what Fidelity is telling you: my login as treasurer, which
was unique to me, took me to the club account ONLY. I had NO access
to her personal account, nor did I ever see any indication that the
account existed. When I subsequently opened my own personal account
with Fidelity, my personal account was as invisible to her as her
personal account was to me.
I know this isn't the answer you're looking for, but I can say that
the way Fidelity operates worked well for us.
Linda TerHaar
Grand Slam Investment Club
On Thu, Apr 10, 2014 at 11:11 PM, JDunham <jackdunham@aol.com> wrote:
> That's exactly what I want to do, is set up a separate login for the
> investment club account. The Fidelity folks keep telling me I can't do
> that. How did you accomplish it? They tell me, every login has to be
> associated w/ a person and every person can only have one login.
>
>
>
> -----Original Message-----
> From: Carole Jansen <cljansen@verizon.net>
> To: club_cafe <club_cafe@bivio.com>
> Sent: Wed, Apr 9, 2014 10:26 pm
> Subject: Re: [club_cafe] Re: AccountSync & Fidelity Investment Accounts
> -Part Ii
>
> I am not sure you have received an answer to your question, but I also have
> a personal IRA at Fidelity and was also the authorized person (as Treasurer)
> on an investment club account at Fidelity. Both accounts showed on my
> online page when I logged in using my personal log-in, but the other
> partners in the investment club did not have my personal log-in information
> and therefore, could not access my personal IRA or any information about it.
> The log-in I set up for the investment club, and provided to Bivio, was a
> separate login for the investment club account.
>
> Hope this helps.
>
> Carole.
>
>
> ________________________________
> From: Jim Thomas <jimt075@comcast.net>
> To: club_cafe@bivio.com
> Sent: Wednesday, April 9, 2014 3:08 PM
> Subject: Re: [club_cafe] Re: AccountSync & Fidelity Investment Accounts
> -Part Ii
>
>> In fact they have their own logins that provide inquiry access. <
>
> Have you tried using one of those inquiry-only logins with AccountSync?
>
>
> ----- Original Message -----
> From: JDunham
> To: club_cafe@bivio.com
> Sent: Wednesday, April 09, 2014 10:57 AM
> Subject: Re: [club_cafe] Re: AccountSync & Fidelity Investment Accounts
> -Part Ii
>
> John,
>
> As a newbie to bivio, first let me say that I'm impressed by the community
> support provide by members to members. It's refreshing.
>
> The main concern I have is the need to provide my personal login information
> to AccountSync so that "it" can electronically retrieve transactional data
> from the club account which happens to be co-located with my personal
> accounts. That login grants access to all my Fidelity accounts, not just
> the club's account. This would remove all the security in place to keep my
> accounts and financials secure, since by providing the login I've basically
> given card blanche access via AccountSync; and there would be no way to
> decerne whether it was Me accessing the account or AccountSync. So, I'm
> trying to figure our how to mitigate that exposure and limit access just to
> the club's Fidelity account.
>
> I am not worried about the broker (Fidelity), nor would I share my login
> with other club members. In fact they have their own logins that provide
> inquiry access. This only has to do with providing that information to
> AccountSync. Have you provided your personal login information to
> AccountSync? Is that how you get transactional data into bivio or do you
> enter it manually?
>
> Perhaps, this login issue is a limitation/constraint only at Fidelity. I
> could move the club account to an entirely separate brokerage firm where
> there are no personal accounts involved. But since I'm familiar w/ Fidelty
> as a customer, my preference would be to have it all there.
>
>
>
>
Carole Jansen on
John, that partnership was terminated last year, and our Fidelity account closed, but from my records, this is what I can tell you about how we set that up:
The account was opened as a partnership account (type of business in Fieldity's records = Investmet Club), and we gave them the partnership EIN and the SS# and information for all of the patners. The other partner (there was only one) had to sign some papers to get it opened.
At some point the type of ownership was changed to an "Investment Club" rather than a "Partnership" account. Perhaps this is the issue with your account. I recall that we were very specific about the investment club aspect, even though it was also a partnership
I was given Full Transaction Authority as the partnership treasurer, and the "normal" customer ID for the account was changed from a SS# to one of our choosing, which was a random word we had selected. We also selected a PIN #.
This new customer ID and PIN# allowed the other partner access to the Fidelity web-site for our investment club account, but the other partner could not see
my personal account.
When I signed onto my personal account at Fidelity I also had access to the investment club account, which I assume was because I had Transaction Authority for the investment club account, but it also may have been because my SS# was on the investment club account as one of the partners. Because the other partner only had the new Customer ID and the PIN#, there was no possibility she could access my personal account, which would have required my personal login information.
Hope this helps, and so sorry you are having issues.
From: JDunham <jackdunham@aol.com> To: club_cafe@bivio.com Sent: Thursday, April 10, 2014 10:11 PM Subject: Re: [club_cafe] Re: AccountSync & Fidelity Investment Accounts -Part Ii
That's exactly what I want to do, is set up a separate login for the investment club account. The Fidelity folks keep telling me I can't do that. How did you accomplish it? They tell me, every login has to be associated w/ a person and every person can only have one login.
I am not sure you have received an answer to your question, but I also have a personal IRA at Fidelity and was also the authorized person (as Treasurer) on an investment club account at Fidelity. Both accounts showed on my online page when I logged in using my personal log-in, but the other partners in the investment club did not have my personal log-in information and therefore, could not access my personal IRA or any information about it. The log-in I set up for the investment club, and provided to Bivio, was a separate login for the investment club account.
Hope this helps.
Carole.
From: Jim Thomas <jimt075@comcast.net> To:club_cafe@bivio.com Sent: Wednesday, April 9, 2014 3:08 PM Subject: Re: [club_cafe] Re: AccountSync & Fidelity Investment Accounts -Part Ii
> In fact they have their own logins that
provide inquiry access. <
Have you tried using one of those inquiry-only
logins with AccountSync?
As a newbie to bivio, first let me say
that I'm impressed by the community support provide by members to
members. It's refreshing.
The main concern I have is the
need to provide my personal login information to AccountSync so that "it" can
electronically retrieve transactional data from the club account which happens
to be co-located with my personal accounts. That login grants access to
all my Fidelity accounts, not just the club's account. This would remove
all the security in place to keep my accounts and financials secure, since by
providing the login I've basically given card blanche access via AccountSync;
and there would be no way to decerne whether it was Me accessing the account
or AccountSync. So, I'm trying to figure our how to mitigate that
exposure and limit access just to the club's Fidelity account.
I
am not worried about the broker (Fidelity), nor would I share my login with
other club members. In fact they have their own logins that provide
inquiry access. This only has to do with providing that information to
AccountSync. Have you provided your personal login information to
AccountSync? Is that how you get transactional data into bivio or do you
enter it manually?
Perhaps, this login issue is a
limitation/constraint only at Fidelity. I could move the club account to
an entirely separate brokerage firm where there are no personal accounts
involved. But since I'm familiar w/ Fidelty as a customer, my preference
would be to have it all there.