Are you looking to take a break from your automated investing or perhaps adjust your financial strategy with Fidelity? Whether your circumstances have changed, or you simply want to re-evaluate your investment plan, canceling recurring investments with Fidelity is a straightforward process. Let's walk through it together, step-by-step!
Understanding Recurring Investments at Fidelity
Fidelity's recurring investment feature is a fantastic tool for consistent wealth building, often leveraging the power of dollar-cost averaging. This means you invest a fixed amount regularly, regardless of market fluctuations, which can help smooth out the impact of volatility. However, life happens, and sometimes you need to pause or stop these automated contributions.
Fidelity provides robust online tools to manage these recurring transfers and investments, giving you control over your financial journey. You can adjust the amount, frequency, or even completely cancel a recurring investment.
The Complete Guide to Canceling Recurring Investments with Fidelity
This guide will focus on canceling recurring investments directly through the Fidelity website, which is typically the most common and convenient method.
Step 1: Ready to Take Control? Log In to Your Fidelity Account!
The first and most crucial step is to access your Fidelity account online.
Open your web browser and navigate to the official Fidelity website (
www.fidelity.com Locate the "Log In" button, usually found in the upper right-hand corner of the homepage.
Enter your User ID and Password in the designated fields.
Click "Log In" to proceed.
Self-reflection Point: Before you dive in, take a moment to consider why you're canceling. Is it a temporary pause, or a permanent change? This will help you decide if you need to adjust other aspects of your financial plan.
Step 2: Navigating to Your Recurring Activity
Once you're successfully logged in, you'll be on your Portfolio Summary page. From here, you need to find the section dedicated to managing your automated transfers and investments.
Look for the "Accounts & Trade" tab in the main navigation bar at the top of the page. Hover your mouse over it or click on it.
A dropdown menu will appear. From this menu, select "Transfers".
On the "Transfers" page, you'll typically find a link or section titled "Manage recurring transfers" or "Your recurring activity". Click on this link.
Pro Tip: Fidelity's website interface can sometimes change slightly. If you don't see the exact wording, look for terms like "Automatic Investments," "Scheduled Transfers," or "Manage Recurring Plans."
Step 3: Identifying the Recurring Investment to Cancel
Now you'll see a list of all your active recurring transfers and investments. This is where you identify the specific one you wish to cancel.
Review the list carefully. Each recurring investment will typically show details like the investment type (stock, ETF, mutual fund, etc.), the amount, the frequency, and the target account.
Locate the recurring investment you intend to stop.
To the right of the investment details, you'll usually see options like "Edit," "Skip," or "Delete" (or "Cancel").
Important Note: While some recurring transfers might offer a "Skip" option for a single payment, recurring investments generally offer "Edit" or "Delete" (cancel the entire plan). If you only need to skip one payment and don't see that option, you'll likely need to delete and then re-establish the recurring investment later if you plan to resume it.
Step 4: Confirming the Cancellation
This is the final step where you confirm your decision to cancel the recurring investment.
Click the "Delete" or "Cancel" button associated with the specific recurring investment you identified in Step 3.
Fidelity will typically present a confirmation screen or a pop-up window. This is to ensure you genuinely want to stop the investment.
Read the confirmation message carefully. It will usually reiterate which recurring investment is being canceled.
Click "Confirm", "Yes, Cancel," or a similar button to finalize the cancellation.
What to Expect After Confirmation:
You should receive an on-screen confirmation that your recurring investment has been successfully canceled.
Fidelity may also send you a confirmation email to your registered email address. Keep this for your records.
The canceled recurring investment should no longer appear in your "Manage recurring transfers" list.
Step 5: Verifying the Change (Optional but Recommended)
Although you've received confirmation, it's always a good practice to double-check, especially if it's a significant change to your financial plan.
You can revisit the "Manage recurring transfers" section after a few minutes or hours to ensure the canceled investment is no longer listed.
You might also check your "Activity" or "History" tab for the relevant account to confirm that no future recurring investment transactions are scheduled.
Consider Your Next Steps: Now that you've canceled the recurring investment, think about what you want to do with the funds that were previously allocated. Will you divert them elsewhere, use them for a specific goal, or simply keep them in your core cash position?
Important Considerations for Canceling Recurring Investments:
Timing: Be mindful of the timing. If a recurring investment is scheduled to execute very soon (e.g., within 1-2 business days), you might not be able to cancel that specific upcoming payment online. In such cases, the cancellation will apply to all future scheduled investments. If you have an immediate need to stop a payment that's already in process, you might need to contact Fidelity directly.
Linked Bank Accounts: If your recurring investment was funded from an external bank account, cancelling it with Fidelity stops Fidelity from initiating the pull. However, it's always a good idea to ensure there are no lingering automated transfers set up from your bank's side to Fidelity, although this is less common for recurring investments initiated from Fidelity.
Account Types: The process generally applies to most Fidelity accounts that support recurring investments, including brokerage, Cash Management, and IRA accounts (Traditional, Roth, Rollover).
Dollar-Cost Averaging: Remember that canceling recurring investments means you're no longer consistently investing a fixed amount. If market volatility is a concern, consider restarting recurring investments when your financial situation allows.
Frequently Asked Questions (FAQs)
Here are 10 common "How to" questions related to canceling recurring investments with Fidelity, along with their quick answers:
How to check if my recurring investment was successfully canceled?
You can verify by logging into your Fidelity account, navigating to "Accounts & Trade" > "Transfers" > "Manage recurring transfers." The canceled investment should no longer appear on the list.
How to temporarily pause a recurring investment instead of canceling?
Fidelity's recurring investment feature generally doesn't offer a "pause" option. You typically need to cancel the existing plan and then set up a new one when you're ready to resume. Some recurring transfers might have a "skip" option, but this is less common for recurring investments into specific securities.
How to change the amount of my recurring investment?
Log in to Fidelity, go to "Accounts & Trade" > "Transfers" > "Manage recurring transfers." Find the recurring investment you wish to modify and select the "Edit" option. You can then adjust the dollar amount.
How to change the frequency of my recurring investment (e.g., from monthly to quarterly)?
Follow the same steps as changing the amount: "Accounts & Trade" > "Transfers" > "Manage recurring transfers," then "Edit" the existing plan to adjust the frequency.
How to cancel a recurring investment from my Fidelity mobile app?
The steps are similar on the Fidelity mobile app. Log in, look for the "Transact" or "Transfers" section, and then locate "Recurring Investments" or "Scheduled Transfers" to manage them.
How to cancel a recurring investment that is funded from an external bank account?
The cancellation process is the same whether the funds come from your Fidelity core position or an external bank account. Cancelling it within Fidelity stops Fidelity from initiating the pull from your bank.
How to know if my recurring investment is about to execute before I cancel?
Fidelity usually provides a "next scheduled date" on your recurring investment details page. If the date is very close (e.g., within 1-2 business days), the upcoming payment might still go through.
How to restart a canceled recurring investment?
You will need to set up a brand-new recurring investment plan. Go to "Accounts & Trade" > "Trade" > "Recurring Investments" or "Transfers" > "Set up a new recurring transfer/investment" to re-establish it.
How to contact Fidelity customer service for help with recurring investments?
You can find Fidelity's customer service contact information on their website, usually under a "Contact Us" or "Help & Support" section. They offer phone support, chat, and secure messaging.
How to find out which account a recurring investment is going into?
When you view your recurring investments under "Manage recurring transfers," each entry will clearly show the destination account (e.g., your Brokerage, IRA, or Cash Management account).