Fidelity as a one stop shop

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BUBear29
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Re: Fidelity as a one stop shop

Post by BUBear29 » Sun Apr 12, 2020 12:03 am

Thefinancialhobbyist wrote:
Sat Apr 11, 2020 8:34 pm
BUBear29 wrote:
Sat Apr 11, 2020 5:50 pm
why do you need the platinum from cs? you can get good credit cards anywhere. aim for simplicity with your banking. the fido setup is really set it and forget it.
I do not need the platinum from CS. I personally don't think anyone needs a CC, they're extremely convenient if you budget properly or can handle the credit. Now, you're 100% right and it's causing me to re-think my credit card strategy but I do enjoy AMEX MR's and have rooted myself deep inside their ecosystem with the Gold, and BBP. It would be very convenient to cashout my MR points if needed for something rather then using them for travel redemption.

I really wish CS performed the auto actions FIDO does as I believe a lot of people would use CS. No factual evidence besides my circle of financial friend's opinions on CS vs FIDO—(Not as popular).
keep the gold and bcp, set them up on autopay from the fido brokerage and call it a day. i personally use Citi credit cards but really monitor everything through YNAB. I seriously never have to touch my Fido accounts as they are on auto pilot. I used CS back in the day then vanguard and now Fido. CS and fido are best customer service-wise, but i don’t think you lose anything going with fido over cs personally. Vanguard has great funds but they were a nightmare for me in customer service
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Thefinancialhobbyist
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Re: Fidelity as a one stop shop

Post by Thefinancialhobbyist » Sun Apr 12, 2020 12:35 am

BUBear29 wrote:
Sun Apr 12, 2020 12:03 am
keep the gold and bcp, set them up on autopay from the fido brokerage and call it a day. i personally use Citi credit cards but really monitor everything through YNAB. I seriously never have to touch my Fido accounts as they are on auto pilot. I used CS back in the day then vanguard and now Fido. CS and fido are best customer service-wise, but i don’t think you lose anything going with fido over cs personally. Vanguard has great funds but they were a nightmare for me in customer service
FIDO Brokerage account cannot move money from SPAXX or FZFXX to CORE FCASH automatically in the event you spend more than 5k on a purchase. You must use the FIDO CMA account to achieve this seamless move. Is this 100% true, verification is needed!

FIDO support stated to me the above, how do you set up autopay from FIDO brokerage account with core MMF (SPAXX) and have deposits come out?

BUBear29
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Re: Fidelity as a one stop shop

Post by BUBear29 » Sun Apr 12, 2020 8:07 am

Thefinancialhobbyist wrote:
Sun Apr 12, 2020 12:35 am
BUBear29 wrote:
Sun Apr 12, 2020 12:03 am
keep the gold and bcp, set them up on autopay from the fido brokerage and call it a day. i personally use Citi credit cards but really monitor everything through YNAB. I seriously never have to touch my Fido accounts as they are on auto pilot. I used CS back in the day then vanguard and now Fido. CS and fido are best customer service-wise, but i don’t think you lose anything going with fido over cs personally. Vanguard has great funds but they were a nightmare for me in customer service
FIDO Brokerage account cannot move money from SPAXX or FZFXX to CORE FCASH automatically in the event you spend more than 5k on a purchase. You must use the FIDO CMA account to achieve this seamless move. Is this 100% true, verification is needed!

FIDO support stated to me the above, how do you set up autopay from FIDO brokerage account with core MMF (SPAXX) and have deposits come out?
I think you are confused on how the core cash position works. See the link: https://www.fidelity.com/trading/faqs-a ... faq_about1

I’ve never had any issue paying >$5k CC bills from my brokerage.
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Thefinancialhobbyist
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Re: Fidelity as a one stop shop

Post by Thefinancialhobbyist » Sun Apr 12, 2020 8:54 pm

BUBear29 wrote:
Sun Apr 12, 2020 8:07 am
I think you are confused on how the core cash position works. See the link: https://www.fidelity.com/trading/faqs-a ... faq_about1
I’ve never had any issue paying >$5k CC bills from my brokerage.
Thank you, that link helped tremendously!

Question: Do you have separate FIDO brokerage accounts for stock investments?

Seeing YNAB pulls in transaction information I think it would be advantageous to hold a "checking" account with FIDO Brokerage divided into etc: SPAXX (checking/dynamic funds) and SPRXX (for an emergency fund that won't be used for a while). Then have an additional FIDO Brokerage account "off-budget" tracking for stocks etc.. Or even CS Brokerage Account lol.

BUBear29
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Re: Fidelity as a one stop shop

Post by BUBear29 » Sun Apr 12, 2020 9:34 pm

Thefinancialhobbyist wrote:
Sun Apr 12, 2020 8:54 pm
BUBear29 wrote:
Sun Apr 12, 2020 8:07 am
I think you are confused on how the core cash position works. See the link: https://www.fidelity.com/trading/faqs-a ... faq_about1
I’ve never had any issue paying >$5k CC bills from my brokerage.
Thank you, that link helped tremendously!

Question: Do you have separate FIDO brokerage accounts for stock investments?

Seeing YNAB pulls in transaction information I think it would be advantageous to hold a "checking" account with FIDO Brokerage divided into etc: SPAXX (checking/dynamic funds) and SPRXX (for an emergency fund that won't be used for a while). Then have an additional FIDO Brokerage account "off-budget" tracking for stocks etc.. Or even CS Brokerage Account lol.
I think you should keep them all in once place. And yes that is exactly what I do. I have separate trust brokerage account for taxable retirement investing but I don’t even account for it in YNAB. I strictly use YNAB for my bank account/monthly budget tracking.
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Re: Fidelity as a one stop shop

Post by LadyGeek » Fri Apr 17, 2020 9:16 am

New member zie has a detailed question which I've moved into a stand-alone thread. See: [Help with setting up Fidelity as a one stop shop]
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invstar
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Re: Fidelity as a one stop shop

Post by invstar » Wed Apr 22, 2020 3:24 pm

Kevin M wrote:
Fri Apr 03, 2020 7:28 pm
invstar wrote:
Fri Apr 03, 2020 2:45 pm
Kevin,

The VMSXX 7 day SEC yield still shows as 2.78%. Is it dropping? I just transferred 75k from VUSXX to VMSXX. VMSXX yields better even after the yield goes down but I'm not sure if the risk is worth.

Thanks.
Kevin M wrote:
Fri Apr 03, 2020 2:12 pm
If you look at the "what's happening to muni MM fund yields" thread I link to a few posts above, you'll see that the daily yields on Vanguard muni MM funds dropped dramatically yesterday, so this party is coming to an end even sooner than apparent from the previous days' declines. For VMSXX, yield dropped from 2.70% on 4/1 to 1.43% on 4/2. New York muni fund had a similarly dramatic drop. We'll see the SEC yields follow suit as the higher yields are dropped from the 7-day averages.

Kevin
Hopefully indexfundfan's explanation made sense to you.

I would think the answer to "is it dropping" was clear in my post: yes. As further evidence, the SEC yield dropped from 2.78% yesterday to 2.53% today.

More importantly, as I've said before, you do not earn the 7-day SEC yield, you earn the daily yield. I can't calculate the daily yield for today until tomorrow, but as I said, it dropped to 1.43% yesterday, so that's what you earned yesterday (not 2.78%).

Even at a daily yield of 1.43%, VMSXX taxable-equivalent yield (TEY) for me of 2.02% still is higher than VUSXX at 0.89% TEY for me (based on SEC yield). I expect both yields to continue to drop, with VUSXX hitting 0.0X% in less than three months (unless the Fed raises the federal funds rate--good luck with that). Back to the topic of this thread, the Fidelity government MM funds are already getting close to 0.0X%.

I wouldn't worry too much about the safety of the muni MM funds, but would not keep money in them that I might want to use for rebalancing into stocks in the event of a large decline accompanied by increased liquidity stress on munis, which could potentially trigger redemption fees and/or liquidity gates. More relevant to the topic of this thread, I'd be hesitant to use them to cover short-term redemption needs such as paying monthly bills; although liquidity looks very good now for muni MM funds I've looked at, we don't know that that couldn't change quickly.

Kevin
Hi Kevin,
As VMSXX yield has been dropping daily, today I have switched to VWSTX (Short-Term Tax-Exempt Fund) with yield around 1.86%. Do you think this is a good fund from safety point of view. I have put $75k into it and I am planning to keep it there for few more months. Could you please let me know.

Thanks.

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Kevin M
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Re: Fidelity as a one stop shop

Post by Kevin M » Wed Apr 22, 2020 7:16 pm

invstar wrote:
Wed Apr 22, 2020 3:24 pm
Hi Kevin,
As VMSXX yield has been dropping daily, today I have switched to VWSTX (Short-Term Tax-Exempt Fund) with yield around 1.86%. Do you think this is a good fund from safety point of view. I have put $75k into it and I am planning to keep it there for few more months. Could you please let me know.

Thanks.
First, with $75K, you should be in VWSUX, which is the Admiral Shares version of the fund ($50K minimum initial investment).

Second, keep in mind that SEC yield is a lagging 30-day average yield (to maturity), and since muni yields have been coming down since the Fed intervention, the actual yield probably is quite a bit lower than the SEC yield.

On 4/20, when the SEC yield of VWSTX was 1.86%, the figure you quoted, the SEC yield of VWSUX was 1.94%. SEC yield of VWSUX as of today, 4/22, is down to 1.78%, so we're seeing the SEC yield follow the actual yield down as the older, higher yields are dropped from the 30-day average. So as with the muni MM funds, the short-term muni fund SEC yield has been dropping daily.

I'm a little cautious about adding anything to any muni fund at this point, and have not been doing so, although I continue to hold my relatively small position of Vanguard CA long-term muni, and even less in CA int-term muni, after selling some shares of those funds to rebalance into stocks in March. Having said that, I wouldn't be to worried about the VG short-term muni fund, but with yields declining, and not know what the actual yield is, I'm not sure it's such a great deal.

Kevin
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Re: Fidelity as a one stop shop

Post by Dovahkiin » Thu Apr 23, 2020 12:50 am

So I'm a few days into using Fidelity as a one stop shop. One negative is I mistakenly typed $10 extra than I had cash available buying FTEXX and incurred a cash debit on a cash account. I'm trying to ach the extra $10 in immediately to cover the debt before the T+1 settlement of the money market fund so I don't get any trade restrictions. I've also applied for margin for the account (I've chosen the method of a $0 CMA account) so if it happens again in the future at least I won't risk any trade restrictions/etc, although I don't think trade restrictions apply to their money market funds.

I didn't think about the risk of accidentally incurring a debit balance/etc in using a brokerage account in this manner as a checking account/savings account. It's something to keep in mind for those of us putting this in practice.

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Kevin M
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Re: Fidelity as a one stop shop

Post by Kevin M » Thu Apr 23, 2020 11:03 am

Dovahkiin wrote:
Thu Apr 23, 2020 12:50 am
So I'm a few days into using Fidelity as a one stop shop. One negative is I mistakenly typed $10 extra than I had cash available buying FTEXX and incurred a cash debit on a cash account. I'm trying to ach the extra $10 in immediately to cover the debt before the T+1 settlement of the money market fund so I don't get any trade restrictions. I've also applied for margin for the account (I've chosen the method of a $0 CMA account) so if it happens again in the future at least I won't risk any trade restrictions/etc, although I don't think trade restrictions apply to their money market funds.

I didn't think about the risk of accidentally incurring a debit balance/etc in using a brokerage account in this manner as a checking account/savings account. It's something to keep in mind for those of us putting this in practice.
I don't think you can buy more than your buying power if buying internally (i.e., not from an external account), which includes not only your core position but also other money market funds in the account (and only that if not a margin account). For example, if you already had some money in FTEXX, that would be included in your buying power, in which case the extra $10 would just come from that fund and go back into it.

Kevin
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Re: Fidelity as a one stop shop

Post by indexfundfan » Thu Apr 23, 2020 11:38 am

Kevin M wrote:
Wed Apr 22, 2020 7:16 pm
On 4/20, when the SEC yield of VWSTX was 1.86%, the figure you quoted, the SEC yield of VWSUX was 1.94%. SEC yield of VWSUX as of today, 4/22, is down to 1.78%, so we're seeing the SEC yield follow the actual yield down as the older, higher yields are dropped from the 30-day average. So as with the muni MM funds, the short-term muni fund SEC yield has been dropping daily.
This got me curious. As stated, the recent yields for VWSUX are

4/20 SEC yield 1.94%
4/22 SEC yield 1.78%

If we take (30*1.94 - 30*1.78)/2, we get 2.4%. What does this tell us?

This tells us that the daily yield of the fund on 4/22 is, on average (2 days), 240 bps less than that 30 days ago.

Looking back at the price chart, 3/20 was when the price of the fund bottomed out due to the muni selloff, and presumably when the fund has the highest daily yield.
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Re: Fidelity as a one stop shop

Post by Dovahkiin » Thu Apr 23, 2020 1:45 pm

Kevin M wrote:
Thu Apr 23, 2020 11:03 am
I don't think you can buy more than your buying power if buying internally (i.e., not from an external account), which includes not only your core position but also other money market funds in the account (and only that if not a margin account). For example, if you already had some money in FTEXX, that would be included in your buying power, in which case the extra $10 would just come from that fund and go back into it.

Kevin
Hmm, I see. I was worried more along the lines of the $10 coming out the next day so I'd have a day of free-riding on $10. Adding margin to the account will cover the free riding violation. I know you can't buy more than the buying power of the account, I was merely concerned about accidentally racking up trade violations.

Do I have to worry about that in a cash account with the Fidelity money market accounts? It was showing a $10 debit balance when I made my mistake. I had 10 extra shares of FTEXX too, so for example, I had $100 cash balance, 110 shares of FTEXX, and -10 debit balance. So I'd assume I'd have one day of 10 extra shares before Fidelity settles the new debit the next day, and thus one day's of interest on those shares as well. I caught my mistake after market close but was still able to fast ACH from my old bank over before their cutoff time.

Either way the ACH posted this morning and margin got enabled this morning so I should be good to go.

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Re: Fidelity as a one stop shop

Post by sarabayo » Thu Apr 23, 2020 4:19 pm

Dovahkiin wrote:
Thu Apr 23, 2020 1:45 pm
Kevin M wrote:
Thu Apr 23, 2020 11:03 am
I don't think you can buy more than your buying power if buying internally (i.e., not from an external account), which includes not only your core position but also other money market funds in the account (and only that if not a margin account). For example, if you already had some money in FTEXX, that would be included in your buying power, in which case the extra $10 would just come from that fund and go back into it.

Kevin
Hmm, I see. I was worried more along the lines of the $10 coming out the next day so I'd have a day of free-riding on $10. Adding margin to the account will cover the free riding violation. I know you can't buy more than the buying power of the account, I was merely concerned about accidentally racking up trade violations.

Do I have to worry about that in a cash account with the Fidelity money market accounts? It was showing a $10 debit balance when I made my mistake. I had 10 extra shares of FTEXX too, so for example, I had $100 cash balance, 110 shares of FTEXX, and -10 debit balance. So I'd assume I'd have one day of 10 extra shares before Fidelity settles the new debit the next day, and thus one day's of interest on those shares as well. I caught my mistake after market close but was still able to fast ACH from my old bank over before their cutoff time.

Either way the ACH posted this morning and margin got enabled this morning so I should be good to go.
I have a twice-monthly transaction scheduled in my Fidelity brokerage, the day after every payday, to automate the conversion of SPAXX (the core holding which my paycheck automatically gets deposited into) to FDLXX (my preferred money market fund). Since I don't know in advance how much SPAXX I'll have lying around on the transaction date, I just set the transaction amount to an overestimate (around twice the size of my paycheck). So I'm frequently liquidating some amount of FDLXX right back into FDLXX, twice a month, but Fidelity has never complained to me about it or imposed any kind of restrictions.

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Re: Fidelity as a one stop shop

Post by Dovahkiin » Thu Apr 23, 2020 7:52 pm

sarabayo wrote:
Thu Apr 23, 2020 4:19 pm
I have a twice-monthly transaction scheduled in my Fidelity brokerage, the day after every payday, to automate the conversion of SPAXX (the core holding which my paycheck automatically gets deposited into) to FDLXX (my preferred money market fund). Since I don't know in advance how much SPAXX I'll have lying around on the transaction date, I just set the transaction amount to an overestimate (around twice the size of my paycheck). So I'm frequently liquidating some amount of FDLXX right back into FDLXX, twice a month, but Fidelity has never complained to me about it or imposed any kind of restrictions.
Oh wow! Good to know! I was worried about that. I may take margin off the account then as I'm just using it for cash and have an unlinked account for my investments.

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Re: Fidelity as a one stop shop

Post by jumbopapa » Fri Apr 24, 2020 9:27 am

I have the Fidelity Reward Visa and I have it configured to automatically redeem points in my brokerage account. When exactly does the auto redemption take place? I have ~15000 points right now as of my last statement, so I should be able to redeem them. Slightly confused as to why it hasn't happen automatically yet.

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Re: Fidelity as a one stop shop

Post by protagonist » Fri Apr 24, 2020 10:00 am

FZDXX was competitive in the high yield money market world until recently.
So I also keep an online high yield bank account (easy to shift money back and forth to Fidelity). When FZDXX's yield drops significantly (like now) I shift the bulk of my cash into the online bank account.
And a local bank account that I hardly ever use but is convenient for depositing and cashing checks, notary, etc.
Fidelity makes a great "almost one stop shop".

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Re: Fidelity as a one stop shop

Post by lstone19 » Fri Apr 24, 2020 10:26 am

jumbopapa wrote:
Fri Apr 24, 2020 9:27 am
I have the Fidelity Reward Visa and I have it configured to automatically redeem points in my brokerage account. When exactly does the auto redemption take place? I have ~15000 points right now as of my last statement, so I should be able to redeem them. Slightly confused as to why it hasn't happen automatically yet.
Minimum redemption is $50 and it should happen anytime you're over 5,000 points when a statement is issued. I always found it takes about 10 business days before it posts to the brokerage account (or maybe it's a month-end sweep which for me works out to 10 business days). If you're at 15,000 points now, I assume you've been over 5,000 for a while. Or did you just set up auto-redemption?

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Re: Fidelity as a one stop shop

Post by obafgkm » Fri Apr 24, 2020 10:32 am

lstone19 wrote:
Fri Apr 24, 2020 10:26 am
Minimum redemption is $50 and (auto-redemption) should happen anytime you're over 5,000 points when a statement is issued.
I thought it was $50 minimum, too. But when I manually redeemed for cash a week ago, it seems the minimum has been lowered to $25. I don't know if that's temporary, permanent, or I'm special in some way.

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Re: Fidelity as a one stop shop

Post by Leif » Fri Apr 24, 2020 10:42 am

protagonist wrote:
Fri Apr 24, 2020 10:00 am
FZDXX was competitive in the high yield money market world until recently.
So I also keep an online high yield bank account (easy to shift money back and forth to Fidelity). When FZDXX's yield drops significantly (like now) I shift the bulk of my cash into the online bank account.
And a local bank account that I hardly ever use but is convenient for depositing and cashing checks, notary, etc.
Fidelity makes a great "almost one stop shop".
I don't have a local bank account. So for me the "almost" item, currently, is redeeming paper Gov't EE and I bonds. Fidelity will not redeem them for me, so it looks like I need to open a local account for at least long enough to deposit the bonds then get a cashier check.

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Re: Fidelity as a one stop shop

Post by abuss368 » Fri Apr 24, 2020 10:47 am

I wish I could have all banking and investments under one roof like years ago!

That was simplicity!
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Re: Fidelity as a one stop shop

Post by abuss368 » Fri Apr 24, 2020 10:48 am

I wish I could have all banking and investments under one roof like years ago! Come on Vanguard!

That was simplicity!
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Re: Fidelity as a one stop shop

Post by mervinj7 » Fri Apr 24, 2020 11:43 am

abuss368 wrote:
Fri Apr 24, 2020 10:48 am
I wish I could have all banking and investments under one roof like years ago! Come on Vanguard!

That was simplicity!
Couldn't you still do that with BofA or WF? Not that I would. :D

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Re: Fidelity as a one stop shop

Post by abuss368 » Fri Apr 24, 2020 11:49 am

mervinj7 wrote:
Fri Apr 24, 2020 11:43 am
abuss368 wrote:
Fri Apr 24, 2020 10:48 am
I wish I could have all banking and investments under one roof like years ago! Come on Vanguard!

That was simplicity!
Couldn't you still do that with BofA or WF? Not that I would. :D
You could but I was venting out loud for Vanguard!
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Re: Fidelity as a one stop shop

Post by Dovahkiin » Sat Apr 25, 2020 3:51 pm

Sadly none of the Fidelity brokerage accounts or the CMA account plays nicely with You Need A Budget (YNAB.) YNAB isn't importing transactions at all even if it's set as a budget account. If you want to use it with YNAB you'd need to automatically set up known transactions for your payroll, rent, etc.

YNAB doesn't seem like they're willing to take the time to import transactions for brokerage accounts either, even if they're being used as a faux checking account.

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Re: Fidelity as a one stop shop

Post by ARoseByAnyOtherName » Sat Apr 25, 2020 6:40 pm

Dovahkiin wrote:
Sat Apr 25, 2020 3:51 pm
Sadly none of the Fidelity brokerage accounts or the CMA account plays nicely with You Need A Budget (YNAB.) YNAB isn't importing transactions at all even if it's set as a budget account. If you want to use it with YNAB you'd need to automatically set up known transactions for your payroll, rent, etc.

YNAB doesn't seem like they're willing to take the time to import transactions for brokerage accounts either, even if they're being used as a faux checking account.
Have you asked YNAB support? They are very responsive.

I have YNAB hooked up to my Fidelity rewards credit cards and it works great. Haven’t tried brokerage accounts though.

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Re: Fidelity as a one stop shop

Post by BogleMelon » Sat Apr 25, 2020 6:46 pm

Dovahkiin wrote:
Sat Apr 25, 2020 3:51 pm
Sadly none of the Fidelity brokerage accounts or the CMA account plays nicely with You Need A Budget (YNAB.) YNAB isn't importing transactions at all even if it's set as a budget account. If you want to use it with YNAB you'd need to automatically set up known transactions for your payroll, rent, etc.

YNAB doesn't seem like they're willing to take the time to import transactions for brokerage accounts either, even if they're being used as a faux checking account.
Mine is working with YNAB like a charm. I only have to delete the imported transactions whenever I buy/sell funds since these are not YNAB income/expense transactions
"One of the funny things about stock market, every time one is buying another is selling, and both think they are astute" - William Feather

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Re: Fidelity as a one stop shop

Post by Dovahkiin » Sat Apr 25, 2020 11:18 pm

ARoseByAnyOtherName wrote:
Sat Apr 25, 2020 6:40 pm
Have you asked YNAB support? They are very responsive.
I have. They're very dismissive saying they don't support investment accounts and that tracking accounts don't automatically update. I pointed out to them that I assigned it as a budget account and it's still not importing transactions even though the connection is good.

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Re: Fidelity as a one stop shop

Post by jalm1 » Sun Apr 26, 2020 12:18 am

Fidelity CMA is our primary checking account. We use YNAB as well and have no problems. That said, a Fidelity brokerage account that we use as a savings and money market account doesn’t seem to import into YNAB. However the transfers come through through the checking account so it works fine for us.

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Re: Fidelity as a one stop shop

Post by ARoseByAnyOtherName » Sun Apr 26, 2020 7:32 am

Dovahkiin wrote:
Sat Apr 25, 2020 11:18 pm
ARoseByAnyOtherName wrote:
Sat Apr 25, 2020 6:40 pm
Have you asked YNAB support? They are very responsive.
I have. They're very dismissive saying they don't support investment accounts and that tracking accounts don't automatically update. I pointed out to them that I assigned it as a budget account and it's still not importing transactions even though the connection is good.
That’s too bad. BogleMelon and jam1 seem like they’ve gotten it to work. I wonder what the difference is?

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Re: Fidelity as a one stop shop

Post by William4u » Sun Apr 26, 2020 8:41 am

abuss368 wrote:
Fri Apr 24, 2020 11:49 am
mervinj7 wrote:
Fri Apr 24, 2020 11:43 am
abuss368 wrote:
Fri Apr 24, 2020 10:48 am
I wish I could have all banking and investments under one roof like years ago! Come on Vanguard!

That was simplicity!
Couldn't you still do that with BofA or WF? Not that I would. :D
You could but I was venting out loud for Vanguard!
Agreed. VanguardAdvantge was much better than the Vanguard/Fidelity hybrid I use today. I'm still a little sore about losing that banking service at Vanguard.

invstar
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Re: Fidelity as a one stop shop

Post by invstar » Sun Apr 26, 2020 10:44 am

Kevin M wrote:
Wed Apr 22, 2020 7:16 pm
invstar wrote:
Wed Apr 22, 2020 3:24 pm
Hi Kevin,
As VMSXX yield has been dropping daily, today I have switched to VWSTX (Short-Term Tax-Exempt Fund) with yield around 1.86%. Do you think this is a good fund from safety point of view. I have put $75k into it and I am planning to keep it there for few more months. Could you please let me know.

Thanks.
First, with $75K, you should be in VWSUX, which is the Admiral Shares version of the fund ($50K minimum initial investment).

Second, keep in mind that SEC yield is a lagging 30-day average yield (to maturity), and since muni yields have been coming down since the Fed intervention, the actual yield probably is quite a bit lower than the SEC yield.

On 4/20, when the SEC yield of VWSTX was 1.86%, the figure you quoted, the SEC yield of VWSUX was 1.94%. SEC yield of VWSUX as of today, 4/22, is down to 1.78%, so we're seeing the SEC yield follow the actual yield down as the older, higher yields are dropped from the 30-day average. So as with the muni MM funds, the short-term muni fund SEC yield has been dropping daily.

I'm a little cautious about adding anything to any muni fund at this point, and have not been doing so, although I continue to hold my relatively small position of Vanguard CA long-term muni, and even less in CA int-term muni, after selling some shares of those funds to rebalance into stocks in March. Having said that, I wouldn't be to worried about the VG short-term muni fund, but with yields declining, and not know what the actual yield is, I'm not sure it's such a great deal.

Kevin
Thank you Kevin.

Robert20
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Re: Fidelity as a one stop shop

Post by Robert20 » Tue Apr 28, 2020 2:59 pm

I am planning to move my ROTH and individual account to Fidelity from webull.

Those who are using fidelity... can you please confirm?.
1. I can buy fractional shares on ROTH and Individual account.?
2. I can buy VANGUARD ETFs (mainly VTI, BND, VXUS etc) without any brokerage charges?
3. Money movement from bank to Fidelity is instant (M1finance transaction happens within 1bus day).?

FlyerJack
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Re: Fidelity as a one stop shop

Post by FlyerJack » Tue Apr 28, 2020 3:13 pm

1. Yes.
2. Yes.
3. Depends on what you’re using the money for. You can use it to buy stocks instantly, same day. You cannot use it to (for example) pay your Fidelity credit card bill out of your Fidelity cash management account the same day you transferred from your bank to the cash management account; that takes a few days to settle before it can be used. The website actually does make this clear if you read the details in the “balances” tab, but it can be surprising if you just glance at “cash available to trade.”

RomeoMustDie
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Re: Fidelity as a one stop shop

Post by RomeoMustDie » Tue Apr 28, 2020 3:21 pm

FlyerJack wrote:
Tue Apr 28, 2020 3:13 pm
1. Yes.
2. Yes.
3. Depends on what you’re using the money for. You can use it to buy stocks instantly, same day. You cannot use it to (for example) pay your Fidelity credit card bill out of your Fidelity cash management account the same day you transferred from your bank to the cash management account; that takes a few days to settle before it can be used. The website actually does make this clear if you read the details in the “balances” tab, but it can be surprising if you just glance at “cash available to trade.”
Are you sure you can buy vanguard funds without fees? I thought it was fidelity funds and ishares only without brokerage charges.

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JoMoney
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Re: Fidelity as a one stop shop

Post by JoMoney » Tue Apr 28, 2020 3:28 pm

RomeoMustDie wrote:
Tue Apr 28, 2020 3:21 pm
FlyerJack wrote:
Tue Apr 28, 2020 3:13 pm
1. Yes.
2. Yes.
3. Depends on what you’re using the money for. You can use it to buy stocks instantly, same day. You cannot use it to (for example) pay your Fidelity credit card bill out of your Fidelity cash management account the same day you transferred from your bank to the cash management account; that takes a few days to settle before it can be used. The website actually does make this clear if you read the details in the “balances” tab, but it can be surprising if you just glance at “cash available to trade.”
Are you sure you can buy vanguard funds without fees? I thought it was fidelity funds and ishares only without brokerage charges.
If by "funds" you mean ETF's, then yes, Fidelity (along with many other brokerages) went to $0 commissions on stock/ETFs.
If you mean traditional "mutual funds", then there may be charges.
https://www.fidelity.com/trading/commis ... 123583:3:0
Last edited by JoMoney on Tue Apr 28, 2020 3:29 pm, edited 1 time in total.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

GeraniumLover
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Re: Fidelity as a one stop shop

Post by GeraniumLover » Tue Apr 28, 2020 3:29 pm

Deleted
Last edited by GeraniumLover on Tue Apr 28, 2020 3:29 pm, edited 1 time in total.

Dovahkiin
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Re: Fidelity as a one stop shop

Post by Dovahkiin » Tue Apr 28, 2020 3:29 pm

I made some transactions with the Cash Management account and it's showing up in YNAB. I now narrowed it down to the full brokerage account (which is also identified as a budget account) isn't importing any transactions. I'm going with the $0 CMA account + full brokerage account with overdraft protection setup. I guess this is liveable with me as all my deposits are known amounts at known times into the full brokerage account, and all the spending is done through the CMA account. I'll just resort to making scheduled transactions.

RomeoMustDie
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Re: Fidelity as a one stop shop

Post by RomeoMustDie » Tue Apr 28, 2020 3:32 pm

GeraniumLover wrote:
Tue Apr 28, 2020 3:29 pm
Deleted
Vanguard funds aren't a stock, they're ETF's. I believe you but I remember having to go into ITOT about a year because of costs for VTI.

Robert20
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Re: Fidelity as a one stop shop

Post by Robert20 » Tue Apr 28, 2020 3:46 pm

FlyerJack wrote:
Tue Apr 28, 2020 3:13 pm

3. Depends on what you’re using the money for. You can use it to buy stocks instantly, same day. You cannot use it to (for example) pay your Fidelity credit card bill out of your Fidelity cash management account the same day you transferred from your bank to the cash management account; that takes a few days to settle before it can be used. The website actually does make this clear if you read the details in the “balances” tab, but it can be surprising if you just glance at “cash available to trade.”
If I transfer money from bank to fidelity via ACH, will I get full credit to buy stocks/ETFs full amount?.

Webull gives $1000 as instant buying power and remaining will settle in 5 days.

FlyerJack
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Re: Fidelity as a one stop shop

Post by FlyerJack » Tue Apr 28, 2020 3:51 pm

Robert20 wrote:
Tue Apr 28, 2020 3:46 pm
FlyerJack wrote:
Tue Apr 28, 2020 3:13 pm

3. Depends on what you’re using the money for. You can use it to buy stocks instantly, same day. You cannot use it to (for example) pay your Fidelity credit card bill out of your Fidelity cash management account the same day you transferred from your bank to the cash management account; that takes a few days to settle before it can be used. The website actually does make this clear if you read the details in the “balances” tab, but it can be surprising if you just glance at “cash available to trade.”
If I transfer money from bank to fidelity via ACH, will I get full credit to buy stocks/ETFs full amount?.

Webull gives $1000 as instant buying power and remaining will settle in 5 days.
Full amount, as far as I’ve ever found – I’ve never done more than a few 10,000.

GeraniumLover
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Re: Fidelity as a one stop shop

Post by GeraniumLover » Tue Apr 28, 2020 3:53 pm

Robert20 wrote:
Tue Apr 28, 2020 3:46 pm
FlyerJack wrote:
Tue Apr 28, 2020 3:13 pm

3. Depends on what you’re using the money for. You can use it to buy stocks instantly, same day. You cannot use it to (for example) pay your Fidelity credit card bill out of your Fidelity cash management account the same day you transferred from your bank to the cash management account; that takes a few days to settle before it can be used. The website actually does make this clear if you read the details in the “balances” tab, but it can be surprising if you just glance at “cash available to trade.”
If I transfer money from bank to fidelity via ACH, will I get full credit to buy stocks/ETFs full amount?.

Webull gives $1000 as instant buying power and remaining will settle in 5 days.
I think it depends on whether your are pulling the funds from or pushing the funds to Fidelity. You'll likely be able to trade quicker if you initiate the transfer using Fidelity's site (i.e., "pull").

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LadyGeek
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Re: Fidelity as a one stop shop

Post by LadyGeek » Tue Apr 28, 2020 3:56 pm

tettnanger has a question which I've moved into a new thread. See: [One stop shop with BoA / Merrill Edge]
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jumbopapa
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Re: Fidelity as a one stop shop

Post by jumbopapa » Wed Apr 29, 2020 7:59 am

Does anyone else have seemingly random orders placed on their account? I have the CMA that maintains a $0 balance w/ automatic overdraft protection from my brokerage account. This morning I signed on and at 1:30AM there was a sell order for ~$315 of SPRXX, but I don't have any activity that should have triggered this. I've noticed things like this before, but there doesn't really seem to be a rhyme or reason for it.
Last edited by jumbopapa on Wed Apr 29, 2020 8:49 am, edited 1 time in total.

IowaFarmWife
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Re: Fidelity as a one stop shop

Post by IowaFarmWife » Wed Apr 29, 2020 8:28 am

jumbopapa wrote:
Wed Apr 29, 2020 7:59 am
Does anyone else have seemingly random orders placed on their account? I have the CMA that maintains a $0 balance w/ automatic overdraft protection from my brokerage account. This morning I signed on and at 1:30AM their was a sell order for ~$315 of SPRXX, but I don't have any activity that should have triggered this. I've noticed things like this before, but there doesn't really seem to be a rhyme or reason for it.
No, I have never had anything like this happen to me, and I have several accounts there that I babysit pretty closely. I would get a hold of customer service and ask what happened.
“The quickest way to double your money is to fold it in half and put it in your back pocket.” —Will Rogers

Cash
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Re: Fidelity as a one stop shop

Post by Cash » Sat May 02, 2020 1:18 pm

jumbopapa wrote:
Wed Apr 29, 2020 7:59 am
Does anyone else have seemingly random orders placed on their account? I have the CMA that maintains a $0 balance w/ automatic overdraft protection from my brokerage account. This morning I signed on and at 1:30AM there was a sell order for ~$315 of SPRXX, but I don't have any activity that should have triggered this. I've noticed things like this before, but there doesn't really seem to be a rhyme or reason for it.
The same thing happened to me on 4/29 with FZEXX for $228. Not sure what triggered it but assumed it was a forthcoming autopay. Looking back at the account activity, I still don’t see why it was sold.

vsk
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Re: Fidelity as a one stop shop

Post by vsk » Sat May 02, 2020 5:24 pm

BogleMelon wrote:
Sat Dec 15, 2018 10:25 pm
Nate79 wrote:
Sat Dec 15, 2018 10:22 pm
Why don't you use Schwab for all your needs? That's what we do.
I thought about that, but Schwab lack one important fund to me: extended market index. I need this fund in my Roth because the only good index fund in my 401K is S&P 500 fund. I prefer to own the whole market not just the top 500 companies.
AFIK schwab does not have DRIP
you are the creator of your own destiny

Munie
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Re: Fidelity as a one stop shop

Post by Munie » Sat May 02, 2020 8:09 pm

I have currently:
8 checking accounts (Schwab, Sofi, Ally, T-Mobile, Capital One 360, Discover, Local Credit Union, and now Fidelity)
3 Savings accounts (Ally MMA, Ally Savings, Local Credit Union)
3 brokerage accounts (Schwab, Sofi, Fidelity)
1 401k via job (Fidelity) and No personal IRAs

DONT JUDGE ME! I think a part of me has just been looking for the perfect account and account setup which probably doesn’t exist.

The only account that’s funded is T-Mobile - for the 4% Interest on 3k (which I guess is my emergency fund), and the Fidelity accounts which I recently opened. Before Fidelity I was dealing with Schwab as my Primary Checking for a few years (taking advantage of the ATM reimbursements and the early direct deposit [usually available the night before payday]), but I switched over to Sofi checking towards the end of last year lured by the 2.25% interest rate (which was dramatically reduced to now .20%) and the instant ATM reimbursements (although giving up early direct deposit). Sofi pretty much lost its appeal to me and research led me to opening up a Fidelity CMA & BA account last month (mainly because Sofi has a lack luster brokerage account and I’ve had Schwab for so many years that I was too bored to go back to them). The idea of this core position with the brokerage account may have been the deciding factor alongside the fact that they had ATM reimbursement (although not instant like Sofi, but I don’t have to wait until the end of the month like Schwab), and what really excites me is the early direct deposit which is available (in the morning the day before payday) even earlier than Schwab. Lastly, my job’s 401k is also with Fidelity so I was surprised when I opened the accounts and that popped right up. So far so good, but not perfect which leads me to questions.

The goal is consolidate and get everything under one roof which I have pretty much done.

Fidelity Checking will be my Primary account all the other accounts will remain at 0 balance (except Tmobile and Cap1 360 if I have to deposit or receive random cash at a brick & mortar location) and they’re all fee-less so I have no reason to worry about inactivity.

Fidelity Brokerage will house 20% of every paycheck for savings purposes.

Questions:
1. One issue is that I use Zelle every now and then to receive money instantly within minutes from other people and other accounts without having to wait days for it to clear and be available. However, I cannot attach my Fidelity debit card to the Zelle app, though, all the other debit account cards work or already have the Zelle feature tied into the account. Has anyone been able to successfully add their Fidelity card to Zelle or know why Fidelity isn’t compatible with Zelle?

2. The Fidelity Brokerage Core is positioned on SPAXX is it safe to say SPAXX is yielding 1.59% which is slightly higher than Ally’s Saving account at 1.5%? B) Is that 1.59% payed out monthly?

3. To my understanding Schwab has 0% foreign transaction fees in that they don’t even charge the 1% visa conversion fee, but Fidelity while they don’t have foreign transaction fees per se, you do still get hit with the 1% visa conversion fee correct?

4. With the goal of consolidating everything under one roof, I do want to get the fidelity 2% credit card but I already have Citibank’s double reward 2% card and an Apple Card with 2-3% via Apple Pay. When I do get the Fidelity CC can the money be deposited into the brokerage account?

5. Can I open a 2nd brokerage account to do trading?

6. Does Fidelity have Sub accounts in the same way Sofi has vaults and Ally has buckets for saving for vacation, car, etc? (I did notice this Fidelity Spire app which may be their answer to this question)

That’s it for now.

drk
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Re: Fidelity as a one stop shop

Post by drk » Sat May 02, 2020 8:12 pm

vsk wrote:
Sat May 02, 2020 5:24 pm
AFIK schwab does not have DRIP
Yes, of course it does.

u2wl
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Re: Fidelity as a one stop shop

Post by u2wl » Sat May 02, 2020 9:46 pm

Munie wrote:
Sat May 02, 2020 8:09 pm
2. The Fidelity Brokerage Core is positioned on SPAXX is it safe to say SPAXX is yielding 1.59% which is slightly higher than Ally’s Saving account at 1.5%? B) Is that 1.59% payed out monthly?
SPAXX yield is ~0.01%. SPRXX yield is ~0.30% last time I checked.

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JoMoney
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Re: Fidelity as a one stop shop

Post by JoMoney » Sat May 02, 2020 9:55 pm

Munie wrote:
Sat May 02, 2020 8:09 pm
....
4. With the goal of consolidating everything under one roof, I do want to get the fidelity 2% credit card but I already have Citibank’s double reward 2% card and an Apple Card with 2-3% via Apple Pay. When I do get the Fidelity CC can the money be deposited into the brokerage account?

5. Can I open a 2nd brokerage account to do trading?
...
Yes, you have to have a Fidelity brokerage account to deposit the 2% cash back into. The "CMA" account is a brokerage account, it just uses a FDIC bank account as the default sweep account.
You don't have to open a 2nd brokerage account to trade, but you can...
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

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