Beginning June 15 Fidelity is adding the option to have SPAXX as a CMA core position.I was unaware of this option in a CMA. Image may be NSFW.
You absolutely can keep $0 in the cash core position, hold SPAXX, or a number of money market funds in the CMA and use that for cash debit and ATM withdrawals. Fidelity will auto-liquidate the necessary amount from the MMF as needed.
Replenishing the MMF does require a manual purchase.
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I have money credited regularly to my second brokerage account and is auto invested in SPAXX. Similarly debits are auto liquidated from SPAXX.
In a brokerage account it is completely hands off.
In a CMA you will have to manually purchase SPAXX.
Statistics: Posted by 3000 — Fri Apr 12, 2024 12:54 am — Replies 9 — Views 437
