Merrill Lynch not able to retrieve transactions

[irazecher]

This morning (9am Eastern 10/18/25), I was not able to retrieve transactions from Merrill Lynch. FM provided an error code 12007 - The server name or address could not be resolved. I was wondering if anyone else experienced this unusual event.

[Mark]

Hi irazecher,

I see the same thing here. Doing some quick web searches it appears Merrill has discontinued access to their OFX server in favor of the newer FDX protocol. Apparently you can still download OFX files from their website, but automated access to OFX is apparently not going to be available.

If we can get some help from someone at Merrill we would be happy to add FDX support for them into Fund Manager. Something similar happened with Schwab a few years ago, so we have experience with FDX, but it does require access be given by Merrill to FM. We don't have a contact at Merrill to ask about this. As a client of theirs, you may be able to ask them for help in getting support for Fund Manager.

[Mark]

An update for anyone else with this problem... Merrill has turned off their OFX server, and have moved to FDX. We're trying to obtain permission to use their new FDX server, but it looks unlikely they will grant this permission.

A workaround is to download a QFX file from their website, and import it. We have documented this in some more detail here.

[FundManxy]

This was the announcement made by Merrill Lynch on this issue on Sept 30, 2025:

Bank of America has discontinued all OFX services.

As a result, the Direct Connect and Web Connect connection methods are no longer available. Users will no longer be able to access or use either of these connection methods and will receive an error message when attempting to import a QFX file.

If available at the FI website, you can import a .CSV file into Quicken (if it's correctly formatted):

Create a backup prior to importing
Steps to import a .csv file to Windows
Steps to import a .csv file to Mac

Moving forward, the new supported connection method is Express Web Connect+ (This is known as Quicken Connect in Quicken Classic for Mac).

This change was made by the financial institution, and Quicken must follow the connection methods they provide.

...It sounds like Fund Manager needs to establish an Express Web Connect+ with Merrill as perhaps a proactive step which will be required for all financial institutions. Given that Fund Manager has lost the ability to connect to Vanguard and now Merrill -- it may be only a matter of time before other financial institutions follow suit. Individual investors have already raised concerns with Vanguard and now Merrill. But could Fund Manager be more proactive here? Perhaps team up with Quicken to lobby for such access? So far, haven't seen success with any change at Vanguard (still requires a tedious manual download). This doesn't raise optimism for Merrill or future changes in such access by Fidelity etc.

[Mark]

Hi FundManxy,

We have tried to get registered with Merrill, but they are limiting access to only a handful of very large companies, such as Intuit.

[JeanneMarie]

A workaround is to download a QFX file from their website, and import it. We have documented this in some more detail here.

Thanks for this, Mark, but it needs tweaking. Specifically, I've got a whopper of a reconciliation discrepancy that is almost entirely a couple of large bill payments. What is the downside of importing all options in that dialog? EDIT: These are categories FM has been handling for years.

Thanks.

[Mark]

Hi JeanneMarie,

Are you specifically referencing this step in the instructions:

Choose Settings: Select only the 4 options: "Dividends/interest", "Fund receipts", "Fund transfers", "Security transactions", and pick the date range you'd like to download.

If so, yeah, I think it is fine to choose others too if appropriate.

[surendar jeyadev]

A workaround is to download a QFX file from their website, and import it. We have documented this in some more detail here.

Thanks for this, Mark, but it needs tweaking. Specifically, I've got a whopper of a reconciliation discrepancy that is almost entirely a couple of large bill payments. What is the downside of importing all options in that dialog? EDIT: These are categories FM has been handling for years.

Thanks.

I symapathise with JeanneMarie!

What used to be a straightforward, automatic process now requires a lot of entries by hand. Two observations follow below.

1. Dividend Reinvestment of ETFs, etc. In the old days, the OFX download had 3 entries (or, transactions, if you prefer) for each reinvestment. First was the distribution itself, which, at least in principle, went into the default cash account. The next was a sale of some amount (the full amount if fractional shares can be bought, but not otherwise) from the cash account. Thirdly, was an entry for the buying shares (i.e. reinvesting) corresponding to the cost of the reinvested shares. It all worked, even if clunky.

But now Merrill's OFX files do not have the entry corresponding to the buying of the reinvestment share from the cash account, but the divided shares do show up in the ETF transactions! So, the dividends accumulate in the cash account. I was able to square up everything by entering the "Sell" transactions in the cash account by hand for each dividend amount used to buy the new shares. Works for a person like me with not too many positions, but I can see a real problem for professionals dealing with many accounts.

Curiously, the reinvestment of the default cash account interest/dividends comes through just fine with the blue "turn around" arrow.

2. I have 3 Merrill accounts and in one of them I could not figure out what was going on with a particular Blackrock MMF. I could not even make sense of the statement. In the end I had to do a transfer out from the cash account to square things up. What went on there is beyond me as the deposit is in the statement but no reinvestment entry.

Just thought I would share this and see if there are other work arounds for reconciling the accounts.

Would also like to hear more about JeanneMarie's suggestion about downloading more the categories?

Thanks in advance.

[Mark]

Hi surendar jeyadev,

Thanks for sharing your experiences here. I'm surprised that dividend reinvestments aren't showing up for you. If you want to share a QFX file that covers a date range where you had some reinvestments, please email it to me, and I can take a look.

I think the suggestion on downloading more categories was that when creating the QFX file from Merrill's website, you put check marks next to other categories of transactions. I think this should be fine. You can experiment by selecting all of them, and seeing if that makes any difference. Right now, our instructions mention only selecting 4:

"Dividends/interest", "Fund receipts", "Fund transfers", "Security transactions"

but maybe in some cases you need to pick other options too?

[surendar jeyadev]

Mark,

I do not mind sending you the latest QFX file. Please give me your email address -- the last time we corresponded was about 20 years ago!

The issue really is that when the new reinvestment shares are bought, money does not disappear from the sweep account. When I downloaded transactions till last month, there was that entry the I mentioned before, which corresponded to the actual dividend distribution being used to buy the new shares. Why that is missing now (or, at least does not show up in FM) is the real question.

A hint may lie in the fact that the reinvestment of the interest of the sweep account itself behaves properly.

I have been busy the last two days. I will call my relationship manager tomorrow and at least put in a "complaint".

[Mark]

Hi surendar jeyadev,

You can send an email, and attach a file by going here.

[JeanneMarie]

Would also like to hear more about JeanneMarie's suggestion about downloading more the categories?

Thanks in advance.

Those additional categories won't solve the problem you describe. They are all traditional banking transactions that the brokers have added to their repertory since the 1980s (bill payment, checks, ATM & Visa transactions, and so on). I'm glad I added them because otherwise I ended up with a monster cash discrepancy because of bill payments, but I'm pretty sure they are totally divorced from traditional securities transactions.

What I can add is that -- at Fidelity and Merrill at least -- some securities that should show reinvestments do and some do not. ... And now that I think I understand it it and could adjust many many transactions in FM, I find myself wondering what I'm accomplishing by insisting on a single reinvestment transaction rather than living with a deposit + purchase. I'd welcome any comments about what I might regret if I just let those sit there as-is.

[Mark]

HI JeanneMarie,

Having a single reinvestment or a dividend + purchase are completely equivalent. It really is just a matter of personal preference. I should point out the option during import:

Import Options: / Advanced Options... / Record Matching Purchase/Distribution as Reinvestment

which, from the online help does this:

Record Matching Purchase/Distribution as Reinvestment:
Specify if you would like Fund Manager to combine separate but matching Purchase and Distribution transactions into a Reinvestment transaction. Some mutual fund companies report reinvested distributions as 2 transactions (Purchase + Distribution). Using this option records this case as a single reinvestment. Either method is equivalent in terms of performance and gain/loss calculations, but a reinvestment is clearer documentation of the actual transaction. This option is normally left on.

If for some reason the purchase doesn't happen on the same date, or is for a different amount, this option won't combine the dividend + purchase into a reinvestment.

[JeanneMarie]

Okay, thanks Mark. That is how it seemed but I confess to not having checked the documentation. Mea culpa.

I will continue to let FM record the reinv. but will stop worrying about making a whole load of adjustments when that info is not supplied by the broker(s).

[JeanneMarie]

Oh boy. As of today, Merrill made things more difficult. It looks like we can no longer download a QFX file at all. You can no longer choose an application as described here https://www.fundmanagersoftware.com/faq_merrill.php
(just text/spreadsheet) and you can only download comma separated, tab-delimited, and plain text files-- so just plain text really.

I'm pretty sure this changed last night.