Personal Finance (Not Investing) • If Fidelity CMA allows SPAXX, what’s the difference from a standard brokerage?

Now that the CMA will start allowing SPAXX as the default holding, what differentiates this from a standard brokerage account that already had this feature? A regular brokerage allows bill pay, ATM card, wires, etc.

Is there anything to differentiate the CMA now? Seems like the CMA has become redundant.

A standard brokerage account, outside of Fidelity, does not allow checks and and banking transactions to automatically liquidate and replenish a high yielding money market fund.
The CMA at Fidelity will as of June 15. The brokerage account at Fidelity is already capable.
But ATM fees are not reimbursed in the brokerage unless you have a set amount of assets. Not sure what that amount is.
I only have a CMA at Fidelity.

Statistics: Posted by madbrain — Sat Apr 13, 2024 3:25 am — Replies 9 — Views 671

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