Fidelity combined brokerage and CMA account

[misanman]

Fidelity combines the account statements for our CMA account along with another of our accounts. I find this confusing and would like to see separate statements for these two accounts. Since there are a number of Fidelity users here I'm hoping that someone can point out how to separate the two. Our other four accounts are separately reported.

Searches on the Fidelity site and over the broader internet haven't helped.

 

[audreyh1]

Calling in is the only thing I know to do. I have a combined statement and much prefer that.

 

[braumeister]

Not sure what the confusion is, but in their combined statements each account is separate from the others, on its own pages within the statement.

However, I understand that you can have an account removed from the combined statement, by request. There is no online switch to do that, you have to ask them specifically to do it.

 

[stephenson]

Misanman,

Want to make sure I understand - when you say, "statement" do you mean paper statement? Like mailed to one's house?

We have a Fidelity CMA and it is embedded with the other Fidelity accounts - it is "separate" in that it shows separately, can be selected as an entity, etc ...

 

[COcheesehead]

On the statements page my delivery method is noted as e delivery, but combined statements is an option so at some point you must have chosen that. There is no “undo” button so you’ll likely have to contact them. I use the chat feature with regular success or you could call.

 

[qwerty3656]

I have a combined statement and much prefer that.

+1

 

[Marc]

+1

+2

 

[misanman]

On the statements page my delivery method is noted as e delivery, but combined statements is an option so at some point you must have chosen that.

I suppose this is possible but can't imagine knowingly selecting DW's brokerage account as the companion as they're not related. We have always had e-delivery of statements so it's not a mailed statement issue. I used the chat feature to dialogue with a rep and she tried to change it but couldn't. She told me to call in and someone would be able to help me. Not sure if it's worth the trouble. We get five statements for six accounts so I'm sure I can live with it as a bit of an anomoly.

 

[braumeister]

I'm afraid I really don't see the problem.

We get a consolidated statement for all our accounts, taxable, CMA, and both our IRAs. I like having them all together like that, and I can just scroll through the statement to the one I want to look at. I save them as PDFs, and I like that when I want to look at a past statement I can just go to one document that shows all our accounts for that month.

It's not a bug, it's a feature!

 

[SunGuy]

I work there, and there's always outliers that want features that can't be done.

The Fidelityinvestments subreddit is a great way to give active feedback, I know a couple people who handle those messages, but it is a pretty big team that rotates throughout the day/week.

There's always a reason for why things are done the way they are. They have over 500 people employed as UI/UX features developers. A lot is due to compliance and regulations.

Various statements and categories have to have separate documents and very specific criteria for how/when the information is derived/curtailed from records.

Just be careful to never get abusive to staff, as they will very quickly close accounts of "difficult people".

They gain over 1k new clients a day, and really don't care for any individual account unless it is over $10MM.

Roughly 1 out of every 6 dollars in the entire US economy in some way passes through Fidelity. We have over $4.5 trillion is AUM, and assets under administration amount to $10.3 trillion.

With the recent debacle of the merger between Charles Schwab and TD Ameritrade, we are growing almost as fast as the Robinhood fiasco/Gamestop event. Which had a peak of one day in excess of over 75k new accounts in less than 8 hours.

 

[Golden sunsets]

I assume, CMA means Cash Management Account. We have a Fidelity brokerage account, but all cash is either in SPAXX, or I manually invest the cash in FZDXX. The brokerage account is linked to other accounts at different banks and transfers to/from those accounts happen same day, with the funds available to invest at Fido instantly. So my question is, why do you have a CMA? What does it facilitate that the settlement account can't handle? Just curious?

 

[jazz4cash]

I work there,

Just be careful to never get abusive to staff, as they will very quickly close accounts of "difficult people".

They gain over 1k new clients a day, and really don't care for any individual account unless it is over $10MM.

.

Wow, very, very discouraging coming from an employee. My affinity for Fido just dropped significantly. Fortunately my primary rep and every single phone rep have never made me feel like small potatoes. I do think the Reddit forum is another good resource. There is an official forum and another that is just users.

 

[COcheesehead]

Wow, very, very discouraging coming from an employee. My affinity for Fido just dropped significantly. Fortunately my primary rep and every single phone rep have never made me feel like small potatoes. I do think the Reddit forum is another good resource. There is an official forum and another that is just users.

Are you on the Fidelity forum, the invitation only one?

 

[gauss]

Even though I might find the message discouraging (but not totally unexpected), I certainly appreciate SunGuy's transparency on this -- so thank you for that.

OP, Fidelity does have a paper form that you can fill out and mail to them to control combing statements (especially across multiple account registrations at the same address).

I have always used the form to add new accounts to my combined statement mailing, but there seems to be a section on the form for accounts to exclude. It is possible that this form may help you accomplish your goals. Either way, you may want to take a look at it before you contact customer support.

The pdf form is currently available for download at https://www.fidelity.com/accounts/onlineforms/onlineforms.shtml?formName=COMBINED_STATEMENTS&blank=Y.

-gauss

p.s. I highly value Fidelity's combined statement feature (across account registrations for myself and DW living at the same address). I would be curious to know if any other brokerages also have this type of feature.

 

[SunGuy]

Wow, very, very discouraging coming from an employee. My affinity for Fido just dropped significantly. Fortunately my primary rep and every single phone rep have never made me feel like small potatoes. I do think the Reddit forum is another good resource. There is an official forum and another that is just users.

Oh I think you took me too seriously, I just meant that they respect the integrity of the employees, and will not be bullied by clients, with any account size.

I have personally been advocating for more ways to encourage and support smaller value investors, I mean, I am still one myself lol.

Their company culture is amazing, very supportive and positive, very inclusive, they want you to stay and learn and grow with them as employees for decades.

I can't say enough positive things about them. I was a client of theirs long before working there, so I am over the moon with how the "behind the scenes" is handled.

Realistically, no company is perfect, and a few bad apples get through, but they do a great job of hiring the right type of person, and then work to train/teach them the jobs.

Their benefits are out of this world good, I have never heard of a company giving a 100% match on 7% of your pay before. Just incredible.

 

[COcheesehead]

Frankly I think some of the stuff said about Fidelity is hyperbole and I have never had anything but good, courteous service from them.

 

[jazz4cash]

Oh I think you took me too seriously, I just meant that they respect the integrity of the employees, and will not be bullied by clients, with any account size.

I have personally been advocating for more ways to encourage and support smaller value investors, I mean, I am still one myself lol.

Their company culture is amazing, very supportive and positive, very inclusive, they want you to stay and learn and grow with them as employees for decades.

I can't say enough positive things about them. I was a client of theirs long before working there, so I am over the moon with how the "behind the scenes" is handled.

Realistically, no company is perfect, and a few bad apples get through, but they do a great job of hiring the right type of person, and then work to train/teach them the jobs.

Their benefits are out of this world good, I have never heard of a company giving a 100% match on 7% of your pay before. Just incredible.

Thank you very much for the clarification. Glad you are happy working there.

 

[jazz4cash]

Are you on the Fidelity forum, the invitation only one?

I was referring reddit forums. I am a newbie on reddit so maybe my terminology is wrong......maybe it's called a sub reddit? I' only went on there to follow the Golden Period thread and sort of stumbled into the Fidelity 'forums'. Honestly the acronyms and abbreviations there are exhausting so I don't see myself spending much time there.

I belong to the Fidelity Greenline forum. I can't recall if it's invitation only but it is not the 'high roller' forum.