Ready to take control of your financial future and make investing a consistent, stress-free part of your routine? Setting up and managing recurring investments through the Fidelity app is an incredibly powerful way to build wealth over time, leverage the benefits of dollar-cost averaging, and stay disciplined with your financial goals. Let's dive in!
Managing Recurring Investments on the Fidelity App: A Step-by-Step Guide
The Fidelity app makes it incredibly easy to automate your investments, whether you're contributing to your Roth IRA, a brokerage account, or even setting up a 529 plan for a loved one. By setting it and forgetting it (well, almost!), you remove emotion from your investment decisions and build a robust financial habit.
Step 1: Are You Ready to Automate Your Wealth? Let's Find Out!
Before we even open the app, ask yourself: Are you committed to consistent investing? Recurring investments are a fantastic tool, but they work best when you have a clear understanding of your financial goals and a commitment to stick with them. If the answer is a resounding "Yes!", then you're already halfway there.
Now, let's get down to the technicalities. Make sure you have:
The Fidelity App: Download it from your app store if you haven't already.
Your Fidelity Login Credentials: Keep your username and password handy.
A Linked Bank Account (or Sufficient Funds in Your Fidelity Core Position): This is where the money for your recurring investments will come from. If you plan to fund from an external bank account, ensure it's already linked to your Fidelity account.
Step 2: Logging In and Navigating to Recurring Activity
This is where the magic begins!
Sub-heading 2.1: Open the Fidelity App and Log In
Locate the Fidelity app on your smartphone or tablet and tap to open it.
Enter your username and password. If you have two-factor authentication enabled (which you should!), complete that step as well for enhanced security.
Sub-heading 2.2: Finding the "Transact" or "Automate" Section
Once logged in, the Fidelity app interface is generally intuitive. Look for an icon or tab that says "Transact" or "Automate" at the bottom of the screen. This is your gateway to managing money movement and recurring activities.
Tap the "Transact" or "Automate" icon.
From the options presented, select "Recurring Transfers & Investments" or "Manage recurring activity." The exact wording might vary slightly depending on your app version, but it will be clearly related to recurring actions.
Step 3: Setting Up a New Recurring Investment
Now for the exciting part – creating your automated investment plan!
Sub-heading 3.1: Choosing Your Investment Type and Account
Tap "Create" or "Set up a new recurring investment."
Select a Security Type: Fidelity allows recurring investments in a variety of assets:
Stocks/ETFs: Ideal for building positions in individual companies or broad market index funds.
Mutual Funds: Great for diversified, professionally managed portfolios.
Fidelity Basket Portfolios: For those who want to invest in a pre-selected group of stocks and ETFs as a single unit.
Choose an Account: Select the specific Fidelity account where you want these recurring investments to occur (e.g., your Roth IRA, Brokerage Account, 529 Plan, etc.).
Sub-heading 3.2: Specifying Your Investment Details
This is where you define what you're investing in and how much.
Enter the Ticker Symbol(s): For stocks, ETFs, or Fidelity Basket Portfolios, enter the ticker symbol(s) of the investments you wish to buy. You can often add multiple symbols at once. For mutual funds, you'll select the fund directly.
Pro Tip: If you're unsure of a ticker, use the search bar within the app to find it by company or fund name.
Enter the Dollar Amount: Specify the exact dollar amount you want to invest with each recurring transaction. Fidelity supports fractional share investing for many securities, meaning you can invest a specific dollar amount even if it doesn't buy a whole share.
Select Frequency: This is crucial for dollar-cost averaging! Choose how often you want your investments to occur:
Weekly
Every 2 Weeks (Bi-weekly)
Monthly
Choose a Start Date: Pick the day you want your recurring investment to begin. If the chosen date falls on a weekend or holiday, the investment will typically execute on the next business day.
Sub-heading 3.3: Funding Your Recurring Investment
Select Funding Source: You'll generally have two options:
From your Fidelity account balance (core position): If you have cash already in your Fidelity account, you can use this.
From your linked bank account: This is a common and convenient option, ensuring your investments are funded directly from your external bank. Make sure the correct bank account is selected.
Important Note: If you're funding from a linked bank account, the transfer and investment typically happen on the same day, eliminating the need for a separate transfer first.
Sub-heading 3.4: Review and Confirm
Preview: Carefully review all the details of your recurring investment: the investment type, account, ticker symbols/funds, dollar amount, frequency, start date, and funding source. Double-check everything!
Confirm: Once you're satisfied, tap "Confirm" (or a similar button).
Congratulations! You've successfully set up a recurring investment in the Fidelity app. You'll likely receive a confirmation message or email.
Step 4: Modifying or Cancelling Recurring Investments
Life changes, and so might your investment strategy. Fidelity makes it easy to adjust your recurring investments.
Sub-heading 4.1: Accessing Your Recurring Activity List
From the main Fidelity app screen, tap the "Transact" or "Automate" icon.
Select "Recurring Transfers & Investments" or "Manage recurring activity." You'll see a list of all your active recurring investments.
Sub-heading 4.2: Editing an Existing Recurring Investment
Tap on the recurring investment you wish to modify.
You'll typically see options to "Edit" or "Modify." Tap this option.
You can then adjust parameters such as:
The dollar amount
The investment frequency
The funding source
The specific investments (e.g., change ticker symbols or mutual funds)
Review and Confirm your changes.
Sub-heading 4.3: Cancelling a Recurring Investment
From your list of recurring activities, tap on the investment you want to stop.
Look for an option to "Delete" or "Cancel." Tap this.
You'll usually be asked to confirm your decision. Confirm to stop the recurring investment.
10 Related FAQ Questions: How to...
Here are some quick answers to common questions about managing recurring investments on the Fidelity app:
How to check the status of my recurring investments? You can usually find the status of your recurring investments under the "Recurring Transfers & Investments" or "Manage recurring activity" section of the app. It will show upcoming transactions and past activity.
How to fund a recurring investment from a Fidelity money market account? When setting up or modifying a recurring investment, select your Fidelity account's core position (often a money market fund like SPAXX or FZFXX) as the funding source.
How to ensure I have enough funds for my recurring investment? The Fidelity app will usually notify you if there are insufficient funds. It's good practice to ensure your linked bank account or Fidelity core position has enough money a day or two before the scheduled investment date.
How to set up recurring investments for multiple different stocks/ETFs? When creating a new recurring investment for stocks or ETFs, you can typically add multiple ticker symbols in the same setup process, allocating a specific dollar amount to each.
How to change the bank account linked to my Fidelity account for recurring investments? You'll need to go to your "Account Features" or "Profile" within the Fidelity app or on Fidelity.com to manage your linked bank accounts. Once updated, you can then select the new bank account when setting up or modifying recurring investments.
How to view a history of my recurring investments? Past recurring investments will show up in your account's transaction history or activity log, which you can usually access from your portfolio summary within the app.
How to understand dollar-cost averaging in relation to recurring investments? Dollar-cost averaging is the strategy of investing a fixed amount of money at regular intervals, regardless of the asset's price. This helps reduce the impact of market volatility by averaging out your purchase price over time. Recurring investments are the practical application of this strategy.
How to get notifications about my recurring investments? You can often set up notifications for transactions and account activity within the Fidelity app's settings or your profile. This can include alerts for when your recurring investments execute.
How to set up recurring investments for a 529 college savings plan on the app? The process is similar to setting up recurring investments for other accounts. Select your 529 plan as the target account when initiating the recurring investment setup.
How to get help if I encounter an issue with recurring investments on the Fidelity app? Fidelity's customer service is excellent. You can typically find their contact information (phone, chat) within the "Help" or "Customer Service" section of the app or on their website.
