Do you feel like your investment portfolio needs a refresh? Perhaps your financial goals have shifted, or you've noticed some market trends you want to capitalize on. Whatever the reason, changing your investments within the Fidelity app is a straightforward process that gives you powerful control over your financial future.
Let's dive in and learn how you can confidently manage your investments right from your mobile device!
How to Change Investments in the Fidelity App: Your Step-by-Step Guide
Before we begin, make sure you have the latest version of the Fidelity app installed on your smartphone or tablet. This ensures you have access to all the most up-to-date features and a smooth user experience.
Step 1: Open the Fidelity App and Log In Securely
Alright, let's get started!
Launch the Fidelity App: Find the Fidelity icon on your device's home screen or app drawer and tap it to open.
Log In: You'll be prompted to enter your username and password. If you have biometric authentication (fingerprint or face ID) set up, you can use that for a quick and secure login. Always ensure you are on a secure and trusted Wi-Fi network or using your mobile data when accessing financial apps.
Troubleshooting Login Issues: If you're having trouble logging in, double-check your credentials. There are options for "Forgot Username" or "Forgot Password" on the login screen if needed.
Step 2: Navigate to Your Accounts and Portfolio
Once logged in, you'll typically land on your Accounts Summary page. This is your personal dashboard, providing an overview of all your Fidelity accounts.
Locate Your Account: Identify the specific account where you wish to make changes to your investments. This could be a brokerage account, IRA, 401(k), or another type of investment account. Tap on the account you want to manage.
View Portfolio Holdings: Within the selected account, look for a section or tab that says "Holdings," "Positions," or "Portfolio." Tapping this will display a detailed list of all the investments you currently hold within that account, along with their current values and performance.
Step 3: Deciding on Your Investment Change Strategy
This is a crucial step that requires some thought. Are you looking to:
Sell an Existing Investment?
Buy a New Investment?
Switch between Investments (Sell one to buy another)?
Rebalance Your Portfolio?
Your goal will determine the specific actions you take in the next steps.
Sub-heading: Understanding "Switching" vs. "Selling and Buying"
Fidelity often offers a "Switch" option, particularly for mutual funds. A switch allows you to sell one fund and immediately use the proceeds to buy another fund within the same account in a single transaction. This can be more efficient than selling and then separately buying. However, it's typically only available for mutual funds and not for individual stocks or ETFs. For stocks and ETFs, you'll perform separate sell and buy transactions.
Step 4: Executing Your Trade – Sell, Buy, or Switch
The process varies slightly depending on whether you're selling, buying, or switching.
Sub-heading: Option A: Selling an Investment
If you want to sell an investment to free up cash or reduce your exposure to a particular asset:
Select the Investment to Sell: From your "Holdings" or "Positions" list, tap on the specific stock, ETF, or mutual fund you wish to sell.
Initiate Sale: Look for a "Sell" button or option associated with that investment. Tap it.
Enter Order Details:
Quantity/Amount: Specify how much you want to sell. You can typically choose to sell a specific number of shares/units or a dollar amount (for fractional shares, if available).
Order Type:
Market Order: This will execute your trade immediately at the best available current market price. Be aware that the price can fluctuate rapidly.
Limit Order: This allows you to set a specific price at which you want your order to be executed. Your order will only go through if the market reaches that price. This offers more control but no guarantee of execution.
Time in Force: (Often applicable to Limit Orders)
Day: The order is active only until the end of the trading day.
Good 'Til Canceled (GTC): The order remains active for a longer period (e.g., 180 days) until it's executed or you cancel it.
Review and Place Order: Carefully review all the details of your sell order on the confirmation screen. Ensure the correct investment, quantity, price, and order type are selected. Once satisfied, confirm and place your order. You'll usually receive a confirmation message.
Sub-heading: Option B: Buying a New Investment
If you have cash available and want to add a new investment to your portfolio:
Initiate Purchase: From your account summary or portfolio view, look for a "Trade," "Buy," or "Invest" option. This might be a prominent button or within a menu.
Search for Investment: You'll be prompted to search for the investment you want to buy. Enter the ticker symbol (e.g., AAPL for Apple) or the name of the company, ETF, or mutual fund.
Select Investment: Once you find the correct investment, tap on it to proceed.
Enter Order Details:
Quantity/Amount: Specify how much you want to buy. You can typically choose a specific number of shares/units or a dollar amount (for fractional shares, if available).
Order Type: (Same as for selling – Market or Limit order).
Time in Force: (Same as for selling – Day or GTC).
Funding Source: Confirm the account from which you want the funds to be drawn. This will usually be your core cash position within the Fidelity account.
Review and Place Order: Thoroughly review your buy order on the confirmation screen. Check the ticker, quantity, price, and order type. Confirm and place your order.
Sub-heading: Option C: Switching Investments (Primarily for Mutual Funds)
If you're moving from one mutual fund to another within the same account:
Navigate to Switch Option: Some versions of the Fidelity app might have a direct "Switch" option under the "Trade" or "Manage Investments" section. If not, you'll need to go into the specific mutual fund you want to sell first.
Select Investment to Sell (From): Choose the mutual fund you want to move out of.
Specify Amount/Units: Enter the dollar amount or number of units of the mutual fund you wish to sell.
Select Investment to Buy (To): Now, search for and select the mutual fund you want to move your money into.
Review and Confirm: The app will show you a summary of the switch transaction, including the estimated amounts. Carefully review all details. Confirm and place the switch order.
Step 5: Monitoring Your Order and Confirmation
After placing an order, it's important to monitor its status.
Order Status: Look for an "Orders" or "Pending Activity" section within your account or the trading menu. Here, you can see if your order is "Pending," "Executed," or "Canceled."
Confirmations: Once your trade is executed, Fidelity will send you a confirmation (usually via email or within the app's message center). You can also typically find trade confirmations under "Activity" or "Documents" in your account.
Settlement: Remember that trades don't settle instantly. Stock, ETF, and options trades typically settle within T+1 (Trade Date + 1 business day), meaning the funds or shares will officially appear in your account the day after the trade is executed. Mutual fund settlements can vary, sometimes taking a few business days. Until settlement, funds from a sell order may not be available for withdrawal or for immediate use in other purchases, though they are often available for re-investment within Fidelity.
Step 6: Reviewing Your Updated Portfolio
Once your trades have settled, take a moment to review your updated portfolio.
Check Holdings: Go back to your "Holdings" or "Positions" view to see the changes reflected in your investments.
Analyze Allocation: Consider if your new investment mix aligns with your financial goals, risk tolerance, and overall asset allocation strategy. Tools within the Fidelity app or website can help you analyze your portfolio's diversification.
Important Considerations When Changing Investments
Market Volatility: Prices of investments can change rapidly, especially for market orders.
Tax Implications: Selling investments in a taxable brokerage account can trigger capital gains or losses, which have tax implications. Consult a tax professional if you have questions.
Transaction Fees: While many trades (like US stocks and ETFs) are commission-free at Fidelity, some investments, like certain mutual funds, might have fees. Always check before trading.
Diversification: Avoid putting all your eggs in one basket. Maintain a diversified portfolio to manage risk.
Long-Term Goals: Remember why you are investing. Don't make impulsive changes based on short-term market fluctuations unless it aligns with a well-thought-out strategy.
Research: Always do your due diligence before buying or selling any investment. Utilize Fidelity's research tools available within the app or on their website.
By following these steps, you can effectively manage and change your investments directly within the Fidelity app, empowering you to stay on track with your financial objectives.
10 Related FAQ Questions
Here are 10 frequently asked questions about changing investments in the Fidelity app, with quick answers:
How to check my current investment holdings in the Fidelity app?
You can check your current holdings by logging into the Fidelity app, selecting the desired account from your "Accounts Summary," and then navigating to the "Holdings" or "Positions" tab within that account.
How to find the ticker symbol for a specific stock or ETF in the Fidelity app?
You can find a ticker symbol by using the search bar within the "Trade" or "Research" sections of the Fidelity app. Type in the company name or a general description, and the app will typically suggest relevant ticker symbols.
How to set up recurring investments in the Fidelity app?
Fidelity allows you to set up recurring investments for many assets. You'll typically find this option under "Transfers" or "Automatic Investments" within the app or by searching for "recurring investments" in the help section.
How to cancel a pending trade order in the Fidelity app?
To cancel a pending trade order, go to the "Orders" or "Pending Activity" section of your account in the Fidelity app. If the order has not yet been executed, you should see an option to cancel it.
How to view my investment performance in the Fidelity app?
Most accounts in the Fidelity app have a "Performance" or "Returns" tab that provides charts and data on your investment gains and losses over various time periods.
How to rebalance my portfolio using the Fidelity app?
While the app doesn't have a single "rebalance" button, you rebalance by individually selling investments that have grown too large and buying more of those that are now underweight, following the steps for selling and buying. Fidelity's website offers more detailed rebalancing tools and guidance.
How to link a bank account to my Fidelity app for transfers?
You can link a bank account for transfers by going to the "Transfers" or "Cash Management" section in the Fidelity app and looking for an option to "Link a Bank Account." You'll typically need your bank's routing and account numbers.
How to enable fractional share trading in the Fidelity app?
Fractional share trading is often automatically enabled for eligible securities in brokerage accounts. When placing a buy order, you'll usually have the option to buy by dollar amount instead of by shares, which enables fractional purchases.
How to find my trade confirmations in the Fidelity app?
Trade confirmations are usually available under the "Activity," "History," or "Documents" section within your specific account in the Fidelity app.
How to get help if I encounter an issue with the Fidelity app?
If you encounter an issue, look for a "Help," "Contact Us," or "Fidelity Assistant" option within the app. You can also visit Fidelity's website or call their customer service number for direct assistance.