Handling of preferred stocks

[BHaskell]

I would like to differentiate my preferred stocks from bonds and common stocks (mainly in reports). Is there a way to add an additional investment type? Or is there another way to do it?

Thanks,
Bruce

[Mark]

Hi Bruce,

You cannot modify the investment type names. You could either use the "Other" investment type, or you could consider using one of the Asset Type / Investment Goal categories. You can customize the names for these categories. See "Options / Category Labels...".

[Allan]

I too have been looking at how to treat preferred shares within FM. I am already using the "OTHER" category for several other investments and I am recording my Pfd's as stocks. On another post there was a work around suggested as to how to record as a bond, however, while this would group the fixed income instruments together, the management and tax implications of each are distinctly different.

To me it makes sense to look at adding an Investment type for Pfd Shares, which records the Yield information and the term type (retractable or perpetual) and maturity date. The other nuances associated with Pfd Shares can then be managed within the custom fields.

I use the graph features for quick access to data details within FM. Another option, using the custom fields to identify the Pfd share, would be to add graphing functionality based on the custom fields and that way we could have quick access to the data.

Either approach would ultimately address the issue, however the investment type would be the more elegant solution for reporting and graphing purposes.

[Mark]

Hi Allan,

Thanks for the feedback. It would be best if we could add more investment types, and also make their names user-adjustable...