Not to cause panic but lets talk banks.......

[mathjak107]

No need to be snarky. He monitors my monthly cash withdrawals. I've called him when I've needed to make major withdrawals. No, he is not a mind reader.

Well like I said

what you told us made no sense about he just knows your intended use for the money without you telling him

fidelity can see every penny we withdraw but what they don’t know is we are going to buy a new car soon

so if we had an advisor which we don’t , they could never just know to take money and do something with it which is what you said he did.

in case you forgot , here was what you tried to tell us

“. Also, my financial advisor keeps track of how much cash I am using, and if he sees that there is more than I need he invests it. He recently moved $30k into investments because he saw that I wouldn't need it for a while. No bank would do that.”


then you changed that to this

”He monitors my monthly cash withdrawals. I've called him when I've needed to make major withdrawals. No, he is not a mind reader.”

if an advisor ever moved 30k of cash without asking what my intentions are for it , i would be looking for a new advisor for my money

 

[mathjak107]

i prefer a treasury money market to a bank .

preferably a treasury money market that does no repos .

FIDELITY FDLXX uses no repos .

there is a sligh difference between using repos and not in interest .

about a 1/4 point .

but if one wants to avoid fdic issues and and bank issues then fdlxx is the best way to go