Fidelity auto investment feature now extends beyond mutual funds, adding support for stocks, ETFs, and baskets.
As of November 2023, Fidelity customers can set up automated plans for regular stock/ETF purchases, enabling users to invest a fixed amount at regular intervals (weekly, bi-weekly, or monthly).
How Does Fidelity Auto Investing Work?
Instead of calling it auto invest, Fidelity named it “Recurring Investments,” allowing customers to set up and manage their automatic investments and recurring transactions.
The Fidelity automatic investment feature is compatible with your brokerage account, retirement account (Roth IRA, 401k), and even your HSA.
Setting Up Fidelity Automatic Investment
1. Log in to your Fidelity account through Fidelity.com (The mobile app doesn’t have this feature yet).
2. Click on Trade.
3. Choose Recurring Investments from the dropdown menu under the Trade section.
4. Once in the Recurring Investments section, you’ll be prompted to select the frequency of your investments. Options include weekly, bi-weekly, or monthly.
5. Set the specific date you prefer for the investment to occur.
6. After setting the frequency and date, you can choose the stocks, ETFs, or baskets in which you want to invest regularly.
7. Confirm the details and activate the recurring investment plan to initiate automated investments in your chosen securities or baskets.
What Can You Automate with Fidelity?
With Fidelity’s automatic investment feature, you can put your money to work by regularly purchasing more of the existing mutual funds, stocks, and ETFs in your account.
It’s a simple way to grow your investments without any manual intervention.