I just opened a CMA account from fidelity and was told ... - Reddit

Hi hopefully someone answers my question and what are the difference of a CMA and Bloom account? Is it recommended to have both? ... View community ranking In the Top 5% of …

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I Just Opened A CMA Account From Fidelity And Was Told ... - Reddit

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Hi hopefully someone answers my question and what are the difference of a CMA and Bloom account? Is it recommended to have both? ... View community ranking In the Top 5% of …

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Does fidelity have a CMA?

(Fidelity says that the CMA is intended to complement at least one brokerage account) I see it as a bolt-on Fidelity created to attract new customers away from other online banking products and eventually turn them into investor clients. And then there are existing Fidelity clients who find it a convenient alternative to other banking instruments. ...

Is the CMA a good investment?

There then ensues a lot of automatic ETFs between accounts. My objective with the CMA, as we approach retirement, is to simplify things by consolidating most of my cash and cash equivalents into one large bucket, on which I can write checks but also earn decent interest. Best of both worlds. ...

What's the difference between a CMA and a MMF?

The CMA is my main account. It has $0, and it links to my brokerage account. When a debit posts, it overdrafts to my brokerage account, which liquidates a MMF. Basically a 5.2% yielding checking account, because the MMF is a premium class fund. ...

Does a CMA have zero funds in it?

The CMA has zero funds in it. A debit hits the account and the cash manager feature pulls money from the brokerage to the CMA to cover the debit. - I couldn’t quit understand the - which liquidates a MmF - part and also does MMF mean money market fund? The core position, what your un-invested money sits in, is a money market fund. ...

How does a CMA overdraft work?

The CMA has a feature called cash manager which can pull funds from a brokerage account to cover debits. It's an overdraft feature. When a debit posts, it overdrafts to my brokerage account, which liquidates a MMF. Basically a 5.2% yielding checking account, because the MMF is a premium class fund. ...

Is there anything I need to do with a CMA debit card?

With the CMA debit card, yes. Is there anything I need to do, like notifying Fidelity I will be out of the country so they don't reject the ATM transactions? Get most of it right and don't make any big mistakes. All else being equal, simpler is better. Simple is as simple does. by NYCaviator » Thu May 02, 2024 8:25 pm ...