Fidelity Questions

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Cortopassi
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Fidelity Questions

Post by Cortopassi » Thu Oct 06, 2022 12:03 pm

Hey all, I searched for Fidelity related posts and didn't easily find answers to some questions I have for those of you with Fidelity accounts. Any responses are appreciated.

--Fidelity Cash acct vs. Brokerage cash. Cash balances seem to sweep into a money market account (currently about 2.51% plus 0.42% expense fee) in brokerage and IRA accounts, and to partner bank FDIC insured holdings (currently 1.58%, no expense fee?) for the cash account. Do any of you take advantage of keeping all your unused cash in one or the other given the interest rate differences, and do I really need to concern myself with FDIC insured vs. not?

--Still not clear to me on the need of having both a brokerage account and a cash management account. For those that have both, are there specific reasons you do?

Thanks!
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