I emailed the following to support@sharesight.com but with no auto acknowledgement email and 2 days of no reply, hoping someone here might help….
When I receive an ETF dividend or distribution notice, I immediately update ShareSight. This allows me to confirm the accuracy of auto DRP suggested by ShareSight.
Today, a ShareSight message noted that ETF distribution components are available, suggested resetting any confirmed distributions.
However,
-
I found that by resetting the distribution the associated DRP is also automatically reset. This means I must either trust ShareSight continues to accurately auto calc, or, go back to each statement to confirm.
-
I also found that if I don’t confirm distributions each month, the DRP residual balance doesn’t update so the total number of shares isn’t accurate.
If I’m correct, it means I’m confirming ShareSight each month / quarter to ensure DRP accuracy and total number of shares accuracy, but around September each year I have to go back and reset all distributions so that ETF components are calculated, forcing me to validate that DRP auto calcs remain correct (I can’t blindly trust ShareSight’s accuracy of DRP amount and price).
This doesn’t make sense to me.
Can you please advise if I’m using ShareSight incorrectly or how I can better perform this process?