Personal Finance (Not Investing) • Fidelity as a one stop shop

Has anyone been able to change the core position to MM fund in CMA this week? I saw that it should start being available this week. I am a bit tired of consistently buying MM funds in my CMA. I checked my CMA twice today and no SPAXX selection for core position yet...

June 20

https://www.reddit.com/r/fidelityinvest ... &context=3

I received this from a Fidelity rep via their secure message center:

Thank you for taking the time to contact Fidelity via the email channel. It is my pleasure to assist you with your questions in regard to investing in the Fidelity Government Money Market fund (SPAXX) in your Cash Management account ending in 4160.

You have excellent questions, and I can see that you have placed a trade to move $(redacted) of your existing cash into SPAXX. You can certainly move the cash into the money market fund now, and on June 18, 2024, you will be able to actually make SPAXX your cash core position in the Cash Management account. This can be done online by following these steps:

1. Go to https://www.fidelity.com/
2. Click "Accounts & Trade"
3. Choose "Account Positions"
4. Select your Core to expand it
5. Click on “Change Core Position”
6. Make your selection and choose "Review Order”
7. Click on “Submit”

If you choose not to make SPAXX your core position, you can still hold cash in the money market fund, and Fidelity will automatically sell from SPAXX to cover your transactions in the account, as needed, once the cash in the core is depleted.

Also, there are no roundtrip transactions to worry about with the money market funds.

We truly appreciate your business, (redacted). Thank you for the opportunity to assist you with placing your cash in SPAXX. I hope you have a great rest of your day!

Sincerely,

Cheryl
Fidelity Brokerage Services LLC, Member NYSE, SIPC

Statistics: Posted by heartwood — Tue Jun 18, 2024 6:31 am — Replies 6757 — Views 1299314