How do I correctly connect my Fidelity cash management account to not be treated as investment?
My primary checking account is Fidelities cash management account.
Simplifi treats this as an investment account, which means that I have to edit every ACH to both 1) have a category and 2) not be considered investment. Because the default transactions are all auto hidden/ignored.
I keep missing spending because I have to manually convert every transaction from this. Additionally most are duplicated making it even more difficult.
The account is configured as a checking account in the accounts overview. However all transactions show up as investment transaction in spite of this.
This is tedious, especially because the only way to fix these transactions is via mobile (I cannot save them on desktop; they instantly revert. I have to change the “type” to payment/deposit for each ach transaction which is only available on the iOS app).
Does anyone else have a Fidelity CMA setup with Simplifi in a way this doesn't happen? What did you do to set it up so it is treated as a checking account?
Best Answer
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@ender, thanks for reaching out to the Community!
I'm sorry you're experiencing this issue with your Fidelity CMA account in Quicken Simplifi. When viewing the account from our end, I see that it's connected via the Finicity aggregator, so you are likely experiencing this known issue:
Since it looks like you're also enabled for our Intuit aggregator, you can try switching to the Intuit option of "Fidelity Inv & Retirement" to see if you get better results. If this is something you want to try, you may do so by following these steps:
- Make the account manual by following the steps here.
- Once you see the account(s) listed in the Manual Accounts section under Settings > Accounts, go back through the Add Account flow to connect to "Fidelity Inv & Retirement".
- Carefully link the account found to your existing Quicken Simplifi account by following the steps here.
However, if the Intuit option for Fidelity doesn't do the trick or has other issues, we would recommend switching back to the Finicity option. You would then want to follow the Alert I linked above for updates on the known issue.
I hope this helps!
-Coach Natalie
-Coach Natalie
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Answers
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Hmmm it seems like that might have worked - I'm able to edit the transactions now for that. I will see if that works - I had to switch off of the other Fidelity one because the credit card was showing improper balances.
Maybe having one on each will work?
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I'm the original poster and the one who figured out how to fix the transactions. Unfortunately what I've had to do is limit the activity on my CMA. Simplify pulls the transactions done by Bill Pay and ATMs pretty well, but others (charges done by the debit card, pulls from Venmo/PayPal, etc.) don't. Until this fixed I am using my Chase credit card for all transactions and set up PayPal/Venmo to pull from my Bank of America account. CMA is only used for Bill Pay and ATMs.
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@danielkeisling the fix suggested by @Coach Natalie worked.
I had been using the different connector because that connector was showing an incorrect balance with the Fidelity credit card. And the only way to fix the credit card was switching connectors.
But it looks like using the Akoya connector for the credit card and the Fidelity Inv & Retirement one for the CMA works as expected for both of them.
Kind of annoying but it did ultimately work.
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Is the Fidelity Inv & Retirement connection categorizing the CMA transactions correctly, unlike the Akoya?
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yes! It’s annoying to have to use the two connectors but it works.
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What 2 connectors are you using?
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So far so good with my CMA and using Fidelity Inv & Retirement… Only 2 transactions so far, but it's not trying to make my ATM withdrawal a Stock purchase 🙂
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