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Old 04-12-2016, 09:36 AM   #21
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I have money with 11 different institutions at the moment. That is a bit out of hand; but, I do like having things spread around in case of failure (their systems) or compromise (my specific accounts) at one or more of those institutions.

This also includes some specialty locations such as TreasuryDirect and a boutique benefits manager with an old 401(k) that is my only avenue to a stable value fund. I have opened other accounts for specific benefits (MerrillEdge for free trades, Schwab for the foreign ATM benefits, etc.). At some point, I may consolidate a bit; but, I honestly do not see the need at the moment. The only real downside I have found is the 2-5 days it takes to transfer cash from one institution to another.
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Old 04-12-2016, 10:04 AM   #22
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I read where one man had a Vanguard account and a local credit union. I would like to copy that. So simple come tax time.
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Old 04-12-2016, 10:09 AM   #23
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I have money with 11 different institutions at the moment. That is a bit out of hand; but, I do like having things spread around in case of failure (their systems) or compromise (my specific accounts) at one or more of those institutions.
You realize when it comes to funds the number of systems of record can be counted on the fingers on one hand?
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Old 04-12-2016, 11:01 AM   #24
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Everything at one institution. When I log on my total investment, cash, credit cards etc is totalled up. I like it this way.
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Old 04-12-2016, 11:12 AM   #25
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Everything at one institution. When I log on my total investment net worth is totalled up. I like it this way.
You don't have to have everything at one brokerage to do this. Any brokerage worth it's salt will have a function where it totals your assets at other locations automatically, once you set it up.
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Old 04-12-2016, 11:35 AM   #26
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I use 2 banks and 3 brokers.
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Old 04-12-2016, 11:50 AM   #27
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You don't have to have everything at one brokerage to do this. Any brokerage worth it's salt will have a function where it totals your assets at other locations automatically, once you set it up.
OK but not sure available in Canada. Bank accounts too?
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Old 04-12-2016, 12:09 PM   #28
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I prefer having it in as few places as possible. My retirement is with Schwab and I have a checking and HSA at local institutions.

cd :O)
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Do you keep your investments in one place or spread them out?
Old 04-12-2016, 12:29 PM   #29
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Do you keep your investments in one place or spread them out?

I have them at a few places. My attempt to consolidate everything at Vanguard failed thanks to Vanguard. Now my husband's money is with his 401k, mine is with Vanguard, I have a trading account with Scottrade, going to open a solo401k and HSA account with TDameritrade.


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Old 04-12-2016, 12:30 PM   #30
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My retirement accounts are with one broker and I have 3 bank accounts. At some point, I may close one CU account, but will keep the other CU and national bank. I found it easier to keep track of investments with one broker.
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Old 04-12-2016, 12:36 PM   #31
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I have a few legacy accounts that my Dad set up for me years ago. I should consolidate them since neither has a large balance, but I think I keep them more for emotional reasons. They're money market accts and don't have a lot of activity, so it's not a big paper problem.

The rest of my investments are spread out among Vanguard, my work 401{k) administratior, a bank for some CDs and my IRA at a different institution. I'll eventually consolidate them more, but I like the idea of having at least three different institutions.
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Old 04-12-2016, 01:05 PM   #32
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For Stocks I had it all at 1 place.
They got hacked, which is not good but understandable, however since they didn't tell me for 1 year, so my password didn't get changed (it's really long), I could have been at risk.
Therefore, I moved a few accounts out from them.
The first move of a big account, they called and asked why, so I told them "Because they didn't tell me, I don't want all my eggs in 1 basket".
They didn't call for the second move of another large account.
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Old 04-13-2016, 02:31 AM   #33
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Why did you buy FSENX in the first place? I doubt the reason you have it in your portfolio has changed.
FSENX is in my rollover ROTH account and was under performing but today I made back a little of what I lost. It's in the ROTH for future retirement needs so I think I'll just hang on to it.
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Old 04-14-2016, 10:15 AM   #34
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I have 4 institutions plus 2 others in another country. I consolidate once a month, and can log into any one of them from instantaneous values/trades. As my tradings days are mostly over, this is not the burden it used to be as all my trading is in one of them.

DW and I have discussed this and agree that the spread across institutions is worth the trouble.
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Old 04-14-2016, 10:38 AM   #35
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All retirement accounts at Fidelity except DW's TSP. Local credit union for checking account and small savings.
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