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Old 07-08-2003, 01:40 PM
Cal Learner-- MVP
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Default Re: Designate a MMkt fund as the associated cash account?

In microsoft.public.money, Don Gatz wrote:

- quote -

> I opened a new Fidelity brokerage account to receive some stocks and
> mutual funds being transferred from another account. In the
> transferred-in account the cash was kept in a money market fund, but
> when I download the information on the new account from Fidelity, the
> cash from the money market fund showed up in the "associated cash"
> account, and the money market fund does not appear at all.
> Is there a way to designate the MMkt fund as the "associated cash
> account," or is there a better way to handle this situation?

While most brokers make separate buy and sell transactions of MM
shares, it appears Fidelity just lets the cash balance represent the
MM shares and sends Dividend transactions for Fidelity Cash
Reserves. That will work. Just a different paradigm, and one I might
use if entering transactions by hand. I would just go with the
downloaded method if it is reasonable.

One thing. The MM is not an account. It is an investment.

  #-1  
Old 07-08-2003, 02:48 AM
Don Gatz
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Posts: n/a
Default Designate a MMkt fund as the associated cash account?

I opened a new Fidelity brokerage account to receive some stocks and
mutual funds being transferred from another account. In the
transferred-in account the cash was kept in a money market fund, but
when I download the information on the new account from Fidelity, the
cash from the money market fund showed up in the "associated cash"
account, and the money market fund does not appear at all.

Is there a way to designate the MMkt fund as the "associated cash
account," or is there a better way to handle this situation?
 

Tags
account, cash, designate, fund, mmkt
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