Summary of User’s Problem and Solutions: The user, jimbo, faced difficulties opening a brokerage account with Fidelity due to complications with identity verification linked to their existing work 401k account, leading to a requirement for physical verification at a branch. Fidelity suggested that if online verification fails, the user could complete a paper application with…
Here’s a summary of the main problem and the solutions discussed: Main Problem: The user is unsure whether to select “checking account” or “savings account” when linking their Fidelity Youth Account to PayPal. Solution: It is recommended to select “checking” as the account type when linking the Fidelity Youth Account to PayPal. Additional Note: Users…
Summary of User’s Inquiry and Solutions: Main Problem: The user is seeking to meet with an advisor to discuss their 401(k) plans through Fidelity but has found it difficult to schedule a meeting as 401(k) services do not seem to be included yet. Solution Offered: Fidelity has a dedicated team called Workplace Planning & Advice…
Here’s a summary of the main problem and solutions discussed in the post: Main Problem: The user is unable to place a buy market order for $7.37 due to a warning about exceeding their settled cash balance, despite having that amount available to trade. Solution Provided: The warning is only a notification and does not…
Here’s a summary of the main problem and solutions discussed in the post: Main Problem: The user is unsure whether they earn interest on collateral when using cash-secured puts in an options money market account. Solution 1: The user will earn interest on the collateral as long as the option contract remains open. Solution 2:…
Here’s a summary of the main problem reported by the user and any solutions discussed: Main Problem: The user has been receiving a message indicating their card was ordered and should ship soon, but it hasn’t shipped yet, despite being told otherwise by customer service agents. They are concerned about the delay, especially since they…
Here’s a summary of the main problem and solutions discussed in the post: Main Problem: The user reported that fractional shares were not transferred from their Fidelity account to Robinhood during the ACATS process. Solution: Fidelity indicated that after the initial transfer, they would liquidate the fractional shares within 3-5 business days. Solution: Funds will…
Main Problem: The user is facing difficulty updating over 200 cost basis entries for mutual funds in their Fidelity investment account due to the manual entry process being time-consuming and prone to errors. Solutions Discussed: The user can submit a Cost Basis Update Form along with their spreadsheet for processing, which may streamline the update…
Here’s a summary of the main problem reported and the solutions discussed: Main Problem: The user, Tave, wants to know if it’s possible to automatically invest $10 every day into an ETF for dollar cost averaging (DCA). Solution: Currently, automatic investment into ETFs is not available; users can only auto-invest into mutual funds they already…
Summary: The main problem reported by the user revolves around understanding how contributions to a Roth IRA work, particularly regarding the tax implications. Contributions to a Roth IRA are made with post-tax money, meaning taxes have already been paid on those funds. Clients typically transfer funds from their bank account, which were received from their…
Summary of User’s Concern and Solutions Discussed: The user is concerned about what happens if their Butterfly PUT trade expires in-the-money (ITM) while trying to avoid being labeled a Pattern Day Trader (PDT). Fidelity provided links to resources on Long and Short Butterfly Spread strategies to help the user understand their options. They explained the…
Summary of User’s Issue and Solutions Discussed: The user is unable to link their bank account on the Fidelity website and is questioning if the system is undergoing maintenance. A Fidelity representative responded, asking if the user is experiencing a specific error when attempting to link the bank account. Here’s the full thread sridhar.ramachandran 06/10/2023…
Summary of User Inquiry and Solutions: The user is seeking information on the capital gains threshold required to file a tax return for a youth account. Fidelity suggests consulting with a tax professional to get accurate guidance, as the required amount can vary. Any capital gains will be reported on a 1099 form, which can…
Summary of User Concerns and Solutions: The main problem reported by the user, Jon Jon, is the lack of a dark mode option on the website, which is causing discomfort due to the bright white screen. FidelityMarian acknowledged the feedback and confirmed that they will pass it along, noting that there have been many requests…
Summary of User’s Inquiry and Response: The main problem reported by the user is whether their former employer is still required to contribute to their SEP IRA for the 2022 contribution year despite the user leaving the job in May 2023. It was clarified that an employer must contribute on behalf of all eligible employees…
Summary of User Inquiry and Solutions: Main Problem: The user wants to know if they need to place two separate orders to set a stop loss for an option that triggers if the option falls by 10%, or if it can be done in one order, and whether this is referred to as a bracket…
Main Problem: The user is unable to add any accounts (bank, Venmo, etc.) due to an error code stating “something went wrong.” Suggested Solutions: Clear your browser’s cookies and cache. Try using a different browser or device. Ensure that your browser and device are updated to the latest versions. If issues persist, contact the tech…
Here’s a summary of the main problem and solutions discussed: Main Problem: The user wants to know if they can designate funds from their core position to be included in the auto roll setup for purchasing more short-term CDs. Solution: Changes to the Auto Roll feature cannot be made for specific securities after the trade…
Here’s a summary of the main problem and solutions discussed: Main Problem: The user is unsure if they can roll over funds from their old company’s 401(k) into a Roth IRA, given the annual contribution limit of $7k and whether their 401(k) is a Roth or pre-tax account. Solution 1: If the user has a…
Summary of the user’s issue and solutions discussed: Main Problem: The user is experiencing delays with a wire transfer and is seeking a way to expedite the process. Solution Discussed: Fidelity representative stated that there is no way to speed up the wire transfer process as they do not have control over it. Here’s the…