Disabling automatic investments with Fidelity is a straightforward process, but it's important to know where to look and what to expect. While automating your investments is a fantastic way to consistently build wealth over time through dollar-cost averaging, there are many legitimate reasons why you might need to pause or stop these contributions. Perhaps your financial situation has changed, you want to reallocate funds, or you're simply taking a temporary break.
No matter your reason, taking control of your investments is a key part of managing your financial future. This comprehensive guide will walk you through the steps to turn off automatic investments in your Fidelity account, ensuring you have the knowledge and confidence to manage your money effectively.
Step 1: Are You Ready to Take Control? Log In to Your Fidelity Account
Before we dive into the technical steps, let's make sure you're ready. Are you sitting comfortably at your computer? Do you have your Fidelity login credentials handy? Great! The first and most crucial step is to access your Fidelity account.
Visit the Fidelity Website: Open your preferred web browser and navigate to the official Fidelity website (Fidelity.com).
Locate the Login Section: Look for the "Log In" button, usually located in the top right corner of the homepage.
Enter Your Credentials: Input your username and password into the respective fields. If you have two-factor authentication enabled (which you absolutely should for security!), be prepared to enter the verification code as well.
Pro Tip: If you've forgotten your username or password, Fidelity offers recovery options right on the login page. Don't panic, just follow their prompts.
Step 2: Navigating to Your Automatic Transfers and Investments
Once you're successfully logged in, you'll be greeted by your portfolio summary. This is where the magic happens, or in this case, where we stop the magic from happening automatically!
Sub-heading: Finding the Right Menu
Fidelity's interface is generally user-friendly, but sometimes options can be tucked away. Here's how to find the section dedicated to your recurring activities:
Look for "Accounts & Trade": In the main navigation bar at the top of the page, you'll typically find a tab or dropdown menu labeled "Accounts & Trade." Click on this.
Select "Transfers" or "Account Features": Within the "Accounts & Trade" dropdown, you'll likely see options like "Transfers," "Account Features," or "Recurring Transfers & Investments." The exact wording might vary slightly, but you're looking for anything that sounds like managing your scheduled money movements. Often, "Transfers" will lead you directly to a "Manage recurring transfers" link. If not, "Account Features" is a good second place to check, then look for "Manage recurring transfers" or similar under a section like "Brokerage & Trading."
Important Note: While the Fidelity mobile app is great for on-the-go management, for managing recurring investments, the desktop website generally offers a more comprehensive and straightforward experience. If you're having trouble on the app, switch to your computer.
Step 3: Identifying the Investment to Modify or Delete
You've made it to the "Automatic Transfers and Investments" or "Manage recurring transfers" page. Now, it's time to pinpoint the specific automatic investment you wish to turn off.
Sub-heading: Reviewing Your Scheduled Activity
List of Recurring Activities: On this page, you should see a list of all your scheduled transfers and investments. This might include regular deposits from your bank, automatic investments into specific mutual funds or ETFs, or even transfers between your own Fidelity accounts.
Locate the Specific Investment: Carefully review the list to find the automatic investment you intend to stop. Pay attention to the account it's linked to, the investment vehicle (e.g., specific stock, ETF, or mutual fund), and the scheduled amount and frequency.
Remember: Sometimes people set up both an automatic transfer into their Fidelity account AND a separate automatic investment from their Fidelity core position into a specific fund. You might need to turn off both, depending on your goal.
Step 4: Stopping the Automatic Investment
This is the final and most critical step. Once you've identified the recurring investment, you'll have the option to modify or delete it. To turn it off completely, you'll want to delete it.
Sub-heading: Executing the Change
Select "Edit" or "Delete": Next to each listed recurring activity, you'll typically find options like "Edit," "Modify," or "Delete." To stop the investment entirely, click on the "Delete" option.
Confirm Your Action: Fidelity will likely prompt you with a confirmation message, asking if you're sure you want to delete the automatic investment. This is a safety measure to prevent accidental cancellations. Read the confirmation carefully and, if you're certain, click "Confirm" or "Delete."
Caution: If you only want to pause an investment temporarily, consider editing it to a very small amount (e.g., $1) or changing the frequency to annual, if permitted, rather than deleting it entirely. However, the most straightforward way to stop it is to delete it and then re-establish it later if needed.
Sub-heading: Verification and Confirmation
Check for Confirmation: After you confirm the deletion, Fidelity should provide a confirmation message on the screen, indicating that your automatic investment has been successfully turned off.
Review Your Scheduled Activities: It's always a good practice to go back to the "Automatic Transfers and Investments" page and ensure that the particular investment is no longer listed or shows as "deleted." This provides peace of mind that your request has been processed.
Email Confirmation (Optional): Depending on your Fidelity notification settings, you might also receive an email confirmation of the change. Keep an eye out for this for an extra layer of verification.
Congratulations! You have successfully turned off your automatic investments with Fidelity. Remember that you can always re-establish them in the future if your financial goals or circumstances change.
Frequently Asked Questions (FAQs)
Here are 10 common questions related to turning off automatic investments on Fidelity, with quick answers:
How to check if my automatic investment was successfully turned off?
You can verify by logging into your Fidelity account, navigating to "Accounts & Trade" > "Transfers" (or "Account Features" > "Manage recurring transfers"), and checking the list of your scheduled activities. The deleted investment should no longer appear.
How to pause an automatic investment instead of completely turning it off?
Fidelity's system generally doesn't offer a "pause" button. To effectively pause, you would typically delete the existing automatic investment and then set up a new one when you're ready to resume. Alternatively, you could edit the amount to a nominal sum like $1, if that works for your specific scenario.
How to re-establish an automatic investment after turning it off?
You can re-establish an automatic investment by logging into Fidelity.com, going to "Accounts & Trade" > "Transfers" or "Recurring Investments," and selecting "Create New" or similar option to set up a new recurring investment.
How to know if my automatic investment is linked to my bank account or Fidelity core position?
When viewing your recurring investments on the "Automatic Transfers and Investments" page, each entry will typically show the funding source, indicating whether it's pulling from a linked bank account or your Fidelity core cash position.
How to turn off automatic contributions to a retirement account like an IRA on Fidelity?
The process is generally the same as for other investment accounts. You'll navigate to the "Automatic Transfers and Investments" section and locate the recurring contribution for your IRA to delete it.
How to stop an automatic dividend reinvestment plan?
Dividend reinvestment is managed separately from recurring investments. You'll usually find this option under "Account Features" for the specific account, then look for a section related to "Dividends and Capital Gains" where you can change your reinvestment elections.
How to cancel an automatic transfer from my bank account to Fidelity?
This is also managed on the "Automatic Transfers and Investments" page. Look for the specific recurring transfer from your bank account to your Fidelity account and select the "Delete" option.
How to get help if I can't find the option to turn off automatic investments?
If you're having trouble, use Fidelity's customer service resources. You can typically find a "Contact Us" link on their website, offering phone numbers, secure messaging, or online chat support.
How to avoid accidental automatic investments in the future?
Always review any automatic investment setups carefully before confirming them. Double-check the frequency, amount, and investment vehicle. Also, regularly review your "Automatic Transfers and Investments" page to keep track of your scheduled activities.
How to confirm that no further deductions will be made after cancellation?
After deleting the automatic investment and receiving on-screen confirmation, regularly check your linked bank account statement for a few weeks to ensure no further deductions occur. You can also monitor your Fidelity account's transaction history.
