It's a fantastic decision to automate your investments with Fidelity! It's one of the smartest ways to consistently build wealth, leveraging the power of dollar-cost averaging and removing emotional biases from your financial journey. But what happens when your financial goals shift, or you discover a new investment you'd like to include? Fear not! Changing your automatic investments in Fidelity is a straightforward process, and I'm here to guide you through it, step-by-step.
How to Change Automatic Investments in Fidelity: A Comprehensive Guide
Many people set up automatic investments and then forget about them, which is great for consistent saving! However, life happens, and your investment strategy might need a tune-up. Whether you want to adjust the amount, change the frequency, or completely switch up the investments you're buying, Fidelity makes it relatively simple. Let's dive in!
Step 1: Getting Started - Your First Click Towards Financial Control
Are you ready to take charge of your recurring investments? Excellent! The very first step is to log in to your Fidelity account.
1.1 Accessing the Fidelity Platform:
Open your web browser and navigate to the official Fidelity website:
www.fidelity.com Locate the "Log In" button, usually found in the top right corner of the homepage. Click on it.
Enter your User ID and Password carefully. If you have multi-factor authentication enabled (which you absolutely should for security!), complete that step as well.
Pro Tip: If you're on a mobile device, you can also use the Fidelity Mobile App. The steps will be similar, often found under a "Transact" or "Automate" section. While the website often offers more comprehensive views, the app is great for quick adjustments on the go.
Step 2: Navigating to Your Automatic Investment Hub
Once you're securely logged in, you need to find the section dedicated to managing your recurring activities. Fidelity streamlines this process, usually grouping all your automated transfers and investments in one convenient location.
2.1 Locating "Accounts & Trade":
On the main navigation bar at the top of the Fidelity website, look for "Accounts & Trade." This is your central hub for all things related to your brokerage and investment accounts.
Sometimes, depending on Fidelity's current website layout, you might see "Transfers" directly in the main navigation. If so, you can click that too.
2.2 Finding "Transfers" or "Recurring Transfers & Investments":
From the "Accounts & Trade" dropdown menu, select "Transfers."
On the "Transfers" page, you'll typically find a link or a section labeled "Manage recurring transfers" or "Automatic Transfers and Investments." This is where the magic happens! Click on it.
Alternatively, some users report success by using the search bar (magnifying glass icon) and typing "recurring transfers" or "automatic investments" to be directly linked. This can be a time-saver!
Step 3: Identifying the Investment Plan You Wish to Modify
Now you're on the page that lists all your existing automatic investment plans. Take a moment to review them and pinpoint the specific plan you want to change.
3.1 Reviewing Your Scheduled Activity:
You will see a clear list of your scheduled transfers and investments. Each entry will typically show:
The account it's coming from and going into.
The investment(s) being purchased.
The amount of each recurring investment.
The frequency (e.g., weekly, bi-weekly, monthly).
The next scheduled date.
Carefully identify the specific automatic investment plan you intend to edit. Don't rush this step!
3.2 Selecting the "Edit" Option:
Next to the automatic investment plan you want to modify, you should see an "Edit" button or a similar icon (like a pencil). Click on it.
Important Note: For some older plans or specific account types (like certain workplace 401(k) plans or BrokerageLink accounts), you might find that direct online editing isn't available for all parameters. In such cases, you might need to cancel the existing plan and set up a new one with the desired changes. Fidelity's interface will usually guide you if this is the case. Don't worry, even if you have to cancel and recreate, the process is still quite simple.
Step 4: Making Your Desired Changes
This is where you get to customize your automatic investment to better suit your current financial situation and goals.
4.1 Adjusting the Investment Amount:
If you want to invest more or less, simply locate the field for the "Amount" and enter your new desired dollar figure.
Remember: Even small, consistent increases can have a significant impact over time due to compounding!
4.2 Changing the Investment Frequency:
Fidelity usually offers options like weekly, bi-weekly, or monthly. Select the frequency that aligns best with your income and budget.
Perhaps you've recently started getting paid bi-weekly, and want your investments to match that schedule – now's the time to change it!
4.3 Modifying the Investment Holdings (Stocks, ETFs, Mutual Funds, etc.):
This is a common reason to adjust automatic investments. You might have new investment ideas, or want to rebalance your portfolio.
You'll typically see the current investment(s) listed. You can usually:
Add new investments: Search for the ticker symbol or name of the stock, ETF, or mutual fund you want to add. Specify the dollar amount you want allocated to it each cycle.
Remove existing investments: There will likely be an option to delete an investment from the recurring plan.
Change the allocation: If you have multiple investments in the plan, you can adjust the dollar amount assigned to each to change your asset allocation. For example, if you were putting $100 into a S&P 500 index fund and $50 into a bond fund, you could change it to $75 for each.
Be mindful of minimum investment requirements for certain mutual funds, though many Fidelity mutual funds have low or no minimums for recurring investments.
4.4 Updating the Start Date (if applicable):
While less common for changing an existing plan, you might see an option to adjust the next scheduled investment date. This is more often used when setting up a new plan.
4.5 Modifying the Funding Source:
If you initially funded your automatic investments from your Fidelity core cash position and now want to link it directly to a bank account (or vice-versa), you'll find an option to select or update the funding source. This can be very convenient!
Ensure your linked bank account is verified with Fidelity before making this change.
Step 5: Reviewing and Confirming Your Changes
Before finalizing anything, Fidelity will provide you with a summary of your proposed changes. This is your chance to double-check everything.
5.1 Previewing Your Updated Plan:
After making your modifications, click on "Preview" or a similar button.
A screen will appear showing a summary of your new automatic investment plan. Read it carefully! Verify the amounts, frequencies, and investments are exactly as you intend.
5.2 Final Confirmation:
If everything looks correct, click "Confirm" or "Save Changes."
You should receive a confirmation message on the screen, and often an email confirmation as well. Keep this for your records!
Step 6: Verification and Ongoing Monitoring
Your changes are now in effect! However, it's always a good idea to verify and periodically monitor your automatic investments.
6.1 Checking for Confirmation:
After confirming, you can navigate back to the "Manage recurring transfers" page to see your updated plan listed.
Keep an eye out for the email confirmation from Fidelity, which typically summarizes the changes you've made.
6.2 Monitoring Future Investments:
On the next scheduled investment date, check your account to ensure the investment was executed according to your new plan. This helps confirm everything is set up correctly.
Regularly review your automatic investments (perhaps quarterly or annually) to ensure they still align with your evolving financial goals and market conditions. This proactive approach ensures your money is always working hard for you.
Frequently Asked Questions (FAQs) - How to...
Here are 10 common questions related to managing automatic investments in Fidelity, with quick answers:
How to add a new stock to my existing automatic investment plan?
Log in, go to "Accounts & Trade" > "Transfers" > "Manage recurring transfers," select your plan, click "Edit," and then add the new stock by its ticker symbol and desired dollar amount.
How to change the amount I invest automatically?
Follow Steps 1-3 above, select "Edit" for your plan, and simply type in the new desired dollar amount in the relevant field.
How to stop an automatic investment in Fidelity?
Log in, go to "Accounts & Trade" > "Transfers" > "Manage recurring transfers," select the plan you wish to stop, and look for a "Delete" or "Cancel" option.
How to change the frequency of my automatic investments (e.g., from monthly to bi-weekly)?
After selecting your plan for editing (Steps 1-3), you'll find a "Frequency" dropdown menu. Choose your new desired frequency and save the changes.
How to find my current automatic investment schedule?
Log in to Fidelity.com, navigate to "Accounts & Trade" > "Transfers" > "Manage recurring transfers." All your active scheduled activities will be listed there.
How to set up automatic investments for the first time?
Log in, go to "Accounts & Trade" > "Transfers" > "Manage recurring transfers," then look for an option like "Create New Activity" or "Set Up Recurring Investment" and follow the prompts.
How to link a new bank account for funding automatic investments?
You'll typically do this within the "Transfers" section under "Manage Bank Accounts" or similar. Once linked and verified, you can select it as a funding source when editing or creating an automatic investment.
How to confirm if my recent automatic investment went through?
Check your account activity or transaction history within your Fidelity account online or on the app. You should see the purchase transaction recorded on the scheduled date. You'll also usually receive an email confirmation.
How to change the investment in my 401(k) automatic contributions (workplace plan)?
For 401(k)s (workplace plans), changes are often managed through a separate "NetBenefits" portal or by contacting your plan administrator. While some features might be accessible through Fidelity.com, many details are specific to your employer's plan rules. Look for a "Plan Fact Sheet" or contact your HR/benefits department.
How to change dividend reinvestment options on Fidelity?
This is separate from automatic investments. To change dividend reinvestment, log in, go to "Accounts & Trade" > "Account Features," and look for a section related to "Dividends and Capital Gains" to update your preferences.
By following this comprehensive guide, you'll be well-equipped to manage and optimize your automatic investments with Fidelity, ensuring your financial strategy always aligns with your evolving goals! Happy investing!
