Adding a Cash Management Account to "Accounts"

Dmenk60

I have a Fidelity brokerage account, and within that account I have a cash management sub-account with check-writing and ATM privileges. It is essentially a checking account. It has it's own account number. I want the CMA to be listed under "Banking" as a checking account, which it is, rather than as part of my overall brokerage account. Is there any way to do this?

SRC54

There have been some workarounds that have worked for some people. I had mine set as a Savings account for a while. If you manage to do it, you have to fiddle with the dividends as Fidelity will want to download two parts and you'll only want one part to show in your "checking" account. I did it for a while, but just decided too keep it as a brokerage account.

The main problem we have in Simplifi with that is that you cannot do splits, recurring transactions or record check numbers in the Investment part of Simplifi. We've asked for these features and to be able to treat it as a checking account. If you are not too invested in Fidelity, you can try other firms because some of them do allow their CMAs to be checking accounts. I think that is the case.

The workaround, if you want to proceed, is to make your CMA a manual account. Then you create a NEW manual checking account and after you've done that, you should move any transactions from the old CMA to your new account, then delete that old account. Now using the Add Account at the top left, go through the steps of adding a new Fidelity account and when it finds your CMA, link it to the manual checking account you've just created. This sometimes works or at least used to sometimes work.

Here's a feature request you might want to vote for:

https://community.simplifimoney.com/discussion/12671/allow-users-to-classify-an-investment-account-as-a-non-investment-account

You can also read what other users have said and done. Good luck.