Re: MMF coupled to Stock Purchase & Sale
In Reply to: Re: MMF coupled to Stock Purchase & Sale posted by Mark on November 22, 2002 at 16:48:33:
Ok. I'll check into it. Sounds like I'll have to remove all investments from this portfolio which are not with the brokerage in question and place them in a new separate portfolio. Best Regards, Chuck
: : 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
: Hi Chuck,
: This option is available in Fund Manager. You would set up an investment
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