Opened an brokerage account, did it automatically open a Cash Managment account too?

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Hey everyone,

So I opened a Fidelity Brokerage Account only to buy ETFs, it looks like they automatically opened and connected a Cash managment account too? Is this normal? I believe the CMA is the core with the cash sweep for the SPAXX correct? I just find it weird that I only opened an indiviual brokerage account but someshow I have a Cash Managment account in my profile, but I guess thats where my uninvested money sits? I always thought these were two separate account, I never signed up for the CMA it just came with my brokerage. Normal?

UPDATE: I probably dont have a CMA, I just clicked the CMA tab on the website and it displayed my indivudual brokerage account so i mistakenly thought my balance was in a CMA.

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BobLemmo

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Posted: 6 months ago
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