How many separate bank/brokerage accounts ?

[I was misinformed]

Local bank for checking
CDs at 3 different internet banks/credit unions
Brokerage accounts at Fido
Treasury direct account
Account at precious metal dealer
4 different 401K etc. employer retirement providers

So I deal with 11 financial institutions....

 

[BTravlin]

Banks:

B of A
Wells Fargo
PNC
GE Capital
Schwab

Brokerage/Mutual Funds:

American Century
Schwab
TIAA-CREF
Wells Fargo

 

[Danmar]

Only one institution for all Canadian and US bank accounts. Same bank's self directed brokerage (only in Canada) All accounts joint. Maybe 30-40 accounts all accessible through one login and visible one one page. Can transfer between all of them with a click. The Canadian banking system is much more concentrated than in the US, so one bank works much better.

 

[MichaelB]

Six

We have two bank accounts, two investment accounts, two HSA accounts.

 

[Willers]

We have a bunch:
2 credit unions/online banks
4 trad IRA accounts
2 Roth IRA accounts
3 brokerage accounts
2 mutual fund family account
1 peer lending account

14 accounts with 8 different providers. Consolidation is on my list for my first year in retirement...

 

[big-papa]

Just out of curiosity how many different bank/brokerage accounts do you have ?

I have three, Fido, Vanguard and a local bank savings/checking account.

I have 5. In decending order from amount of $
1. Fido (the majority of the taxable and tax deferred $'s) and that includes my current j*b's 401K. Mix of managed and index funds.
2. Vanguard - taxable-only account for some diversification across fund companies. Index funds only.
3. MullinsTBG - a deferred compensation account from a former employer that uses the same funds as that former employer's 401K
4. Schwab - a few k$ from back when I owned individual stocks. Was just easier to throw that into a balanced fund than close down the account. So there it sits. Maybe someday.....
5. Checking/savings account at a local credit union

Big-Papa

 

[kcowan]

One brokerage with two retirement accounts
Another brokerage with all the remaining investment accounts (9)
Eight bank accounts (2 checking, 2 savings, 2 USD, 2 Mexican)
An insurance investment account
A preferred share account
A pension account

So a grand total of 22.

 

[athena53]

Accounts at 3 brokerages. One has most of our $$ and I have an advisor there I like (and I'm very picky). I have a Fidelity account I manage myself and an Edward Jones account because DH liked the nice young man ringing our doorbell and let him in. Not much there but that could increase since it's got the 529 for our granddaughter. I've also got a checking account at USAA.


The Fidelity account has gotten all the recent rollovers as I changed jobs in 2012 and retired in 2014.

 

[Meadbh]

Including my holding company, I have over 20 accounts at two institutions.

 

[martyb]

Checking/Savings at our federal credit union

My TSP

Wife's 401k through her employer

Wife's rollover tIRA at Vanguard

Both of us have Roth IRA's at Vanguard

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[aaronc879]

I'm trying to figure out if you meant Traditional IRA or Taxable Brokerage Account.

Traditional IRA

 

[FANOFJESUS]

I am at 12 because of chasing CD rates. If I hit the lotto I would only have two but since I am low income every penny counts. I do think 12 is crazy by the way. I would love two life would be so easy.

 

[scrabbler1]

I have a brokerage and an IRA with Fido, a small brokerage account with Dreyfus (one mutual fund which has checkwriting privileges), and a checking account with a local bank which acts as a hub for my day-to-day financial activities. The brokerage account with Fido produces the monthly dividends which go to my local bank's checking account to pay the bills, with anything in excess being reinvested.

 

[MBAustin]

All bank accounts at BofA. Most investments at Vanguard but have old IRAs and taxable accounts with 3 mutual fund companies, plus some old company stock with Merrill Lynch (using this for charitable contributions to get rid of it, should be gone in 3-4 years depending on the market). Guess we're not as bad as I thought we were.

 

[FreeBear]

Wow, I don't feel too bad anymore. Looks like we're typical.

Checking/savings: 6 different accounts at 4 different banks

Brokerage:

401K at former employer's brokerage, may move before Roth conversions in 2016

2 Roths, 1 trad. IRA, 2 taxable accounts spread over 2 brokerages

May consolidate 401K to existing brokerage & eliminate 1 saving account and related bank.

 

[sheehs1]

One Brokerage with 5 separate accounts there: ( 3 IRA's, 1 taxable, 1 cash)
One Credit Union: Pen Fed, 5 CD's in separate accounts
Two Banks with 4 separate accounts (3 MMA's 1 Monthly Checking), 2 CD's

Also Daughters account with my name on them as I move stuff around for her:
Scottrade: Her Roth IRA
Two Banks: 3 accounts and 3 CD's

 

[Sue J]

I try to keep things fairly simple but now that you made me look....

2 checking and 1 savings (.05%) at local brick and mortar bank. We use cash for anything that is not bought online or paid automatically so we need a local bank.
1 checking and 2 savings (.95%) at DiscoverBank. I opened the checking because of a $75 promo last year.
1 Vanguard Roth IRA account.
CapitalOne (used to be ING) checking and savings. I used to use these but haven't in a few years.
Multiple CDs with PenFed, some are Roth IRA, some not.
1 HSA account.

These are temporary -
1 checking at Chase because of a $300 promo in May (make one direct deposit and then leave $1500 in checking for 6 mo)
1 checking and 1 savings at another local brick and mortar because of a $250 promo in June (must leave open for 6 mo)

The accounts associated with the bank promo bonus deals will be closed once the promo period is over, except for the DiscoverBank checking because I use it to pay our property taxes out of one of the savings accounts.

 

[tmm99]

Sooo many - Probably way too many.

 

[KB]

Credit union (primary bank)
Savings
Checking
Money Market

Ally Bank
Checking
Savings

Vanguard
Brokerage
IRA
Taxable account

I had other accounts but consolidated them a few years ago. I wouldn't mind having a CMA account somewhere, but don't want Wells Fargo or Merrill Lynch. Any ideas where else I can get a CMA. I'm not sure I want to move any money to Fidelity, I see they have one too.

 

[grasshopper]

I had other accounts but consolidated them a few years ago. I wouldn't mind having a CMA account somewhere, but don't want Wells Fargo or Merrill Lynch. Any ideas where else I can get a CMA. I'm not sure I want to move any money to Fidelity, I see they have one too.

I have Vanguards Advantage CMA, free because I have a bunch of money with them.

 

[KB]

Thanks grasshopper, I didn't realize they had a CMA. I'll look into it.

 

[UpAnchor]

USB - checking, savings
WF - checking, savings
CU - checking, savings
Vgd - IRA, MM
Fido - brokerage, CMA, 2 Roths, IRA, 401k
Nationwide - 401k

(15 total but expect to reduce this by at least a third in upcoming retirement)


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[Free To Canoe]

2 bank accounts, one for CDs
2 brokerage accounts
treasury direct account (no one here has mentioned this)


I have been struggling to keep this number down for years. This is as low as I want to go.

 

[kcowan]

So I guess the conclusion, Frayne, is lots!

 

[Cat-tirement]

I don't feel so bad anymore for having nine. During the recent dip, I converted the remainder of a small tIRA into my existing Roth, and a combination of DW's two rollover IRAs is in progress. After ER I left my 401k in place in case I need to tap it before 59.5, and for its legal protections. We are keeping DW's former 403b for its stable value fund, but will probably roll her current 401k into an existing account after she ERs next year.