MMF coupled to Stock Purchase & Sale

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Mark, I have an arrangement with my broker where all moneys sent to the brokerage go into a money market fund. If I purchase stock, the money for the purchase is taken from the fund. If I sell stock, the proceeds of the sale is added to the fund. Only if I made a direct request would I be sent a check for cash to be removed from this MMF.

How can I arrange FM so that stock purchases and sales of this type will be funded through the MMF in question. Also, distributions of various stocks held in the street name by this broker are credited to this MMF (unless there is a provision for automatic re-investment of such distributions for the stock).

To date, I am handling it manually. I'd like it if there were a way that FM would automatically acquire funds for purchases and sales of designated stocks or Mutual Funds from an associated MMF.

Best Regards, Chuck Pierce

Replies:

• Re: MMF coupled to Stock Purchase & Sale Mark 16:48:33 11/22/02 (1)
  • Re: MMF coupled to Stock Purchase & Sale H. C. Piere 18:39:40 11/22/02 (0)