If you are trying to figure out how to automate your investing with Fidelity, then you’ve come to the right place.
In today’s post, we’ll be going over a step-by-step guide (with screenshots) on how to set up and cancel Fidelity automatic investing.
Let’s dive in.
Full Disclosure: Nothing on this site should ever be considered advice, research or an invitation to buy or sell securities, please see my ‘Terms & Conditions’ page for a full disclaimer.
Fidelity Automatic Investing: ETFs & Mutual Funds
Before diving into the guide, it’s important to note that Fidelity automatic investing can only be done with mutual funds. In other words, Fidelity does not allow for automatic investing with ETFs.
However, this is not an issue specific to Fidelity.
That is because ETFs trade like stocks and their prices fluctuate throughout the day whereas mutual funds only trade once a day.
As a result, Fidelity (or any other brokerage firm) can not make automatic investments in ETFs.
How to Set Up Automatic Investments at Fidelity
1. Hover over “Accounts & Trade” and then click “Cash Management”
After logging into our Fidelity account, hover over “Accounts & Trade” (top left of page).
Once the drop-down menu appears, click “Cash Management.”
2. Click “Transfer Money” and then click “Manage Automatic Transfers”
On the ‘Manage Cash & Cards’ Screen, click “Transfer Money.”
Once the drop-down menu appears, click “Manage Automatic Transfers.”
3. Click “Set up an automatic investment”
On the ‘Your Scheduled Transfers’ Screen, click “Set up an automatic investment” (bottom left of the screen).
Note: After setting up our Fidelity automatic investing, this is where we would go to edit/delete any automated transfers.
4. Select the account we want to auto-invest with
Next, we will be asked to select the account that we want to auto-invest into as well as indicate how it will be funded.
5. Fill out the “Set Up Automatic Investments” Form
After selecting the account that we’ll be auto-investing into, we’ll have to fill out the remaining information in the “Set Up Automatic Investments” Form.
The “Transfer To” Section is where we will be inputting how much money that we want to auto-invest as well as where the money is going.
In my case, I am specifying a transfer of $100 into my Brokerage Core Account. However, the investment options that show up for you will depend on what investments that you already have in the account that you’ve selected.
Finally, the last section that we have to fill out is the “Investment Schedule” Section. In this area, we will be specifying how often we want the auto-investing to occur (Monthly, Quarterly, etc.) In the above screenshot, I am setting up a monthly auto-investing schedule to be executed every 15th of the month.
After filling out those two sections, we have to acknowledge the message on the bottom of the screen by clicking “Next.”
6. Confirm that our information is correct
Fidelity will then summarize our inputs and ask us to confirm that our information is correct.
If everything looks good, click “I Agree.”
Voila! We just finished setting up our fidelity automatic investing.
How to Cancel Automatic Investments at Fidelity
1. Hover over “Accounts & Trade” and then click “Cash Management”
After logging into your Fidelity account, hover over “Accounts & Trade” (top left of page).
Once the drop-down menu appears, click “Cash Management.”
2. Click “Transfer Money” and then click “Manage Automatic Transfers”
On the ‘Manage Cash & Cards’ Screen, click “Transfer Money.”
Once the drop-down menu appears, click “Manage Automatic Transfers.”
3. Select “Delete” under the ‘Your Scheduled Transfers’ Section
Find the auto-investing transaction that you want to delete and then click “Delete” (right side of screen).
4. Confirm that we want to delete the auto-investing transaction
Fidelity will ask us to confirm if we want to delete the auto-investing transaction.
If we are sure that we want to delete it, click “Yes, delete.”
Voila! We have successfully canceled our Fidelity auto-investing transaction.
Final Thoughts
Whether we are trying to strategically automate a Fidelity 3 fund portfolio or just trying to put some extra money away in general, Fidelity automatic investing is extremely straightforward to implement.
If you have a Vanguard account, check out our guide on how to set up Vanguard automatic investing.
Thank you for reading! 🙂
Full Disclosure: Nothing on this site should ever be considered advice, research or an invitation to buy or sell securities, please see my ‘Terms & Conditions’ page for a full disclaimer.