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All assets at one brokerage house question.
Old 07-25-2011, 10:11 AM   #1
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All assets at one brokerage house question.

Does anyone feel there are any significant negative issues with having all your assets (stocks, bonds, etc. at just one MAJOR brokerage house? I have a regular IRA, Roth IRA and plan to open a taxable account with some inherited money.
I am with Schwab and it is so easy to follow my accounts, make withdrawals, transfers etc.
How much money would you feel safe with the same holder ?
500K, 1 Million, etc.
Appreciate any responses,

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Old 07-25-2011, 10:19 AM   #2
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This is discussed from time to time here so you may want to search to read more, but no harm in asking again. You'll find there are people here with all their assets in one place, and others with their assets split among two, three or even more places. There are rational arguments for both as you'll see in the other threads, best you read and decide for yourself.

Here's one recent thread to get you started All Vanguard or Vanguard AND Fidelity?

No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
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Target AA: 60% equity funds / 35% bond funds / 5% cash
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Old 07-25-2011, 11:06 AM   #3
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I'm happy to have everything at Schwab for convenience, but you would be wise to check out some of the threads that Midpack has suggested.
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

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Old 07-25-2011, 10:53 PM   #4
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I have the majority of my taxable investments with one major brokerage. My IRA and ROTH IRAs, and that of DW, is with another large company.

The rest is spread among a few banks in the form of CD's.

I have found this arrangement to be simple and easy when reconciling paperwork. It will also be easier for DW when I finally "move on".
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Old 07-26-2011, 01:35 AM   #5
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I have spread my assets among five financial institutions. I would not keep more than 500k with one financial institution only.
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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Old 07-26-2011, 02:01 AM   #6
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I use Fido and VG.

I-Bonds at Treasury Direct, other CDs and savings accounts at 3 banks.
Retired in Jan, 2010 at 55
Now it's adventure before dementia
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Old 07-26-2011, 05:01 AM   #7
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My taxable is all at Schwab. It is a significant amount. My 401k and deferred comp plans are at Wells Fargo. That would not be my choice if I had a choice, but I don't, so there it stays.

Find Joy in the Journey...
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Old 07-26-2011, 05:42 AM   #8
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Everything except my 401k, which is still with my employer, is at Schwab. The 401k will be converted to a rollover IRA at Schwab as soon as I'm done with Roth conversions. I have no concern with concentrating everything at the one brokerage. It's convenient and seems safe enough. I'm 5+ yrs into FIRE.
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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Old 07-29-2011, 01:24 PM   #9
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Of all the things to worry about, this one is way down on the list.
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Old 07-30-2011, 01:23 PM   #10
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Spread across 3 brokerages now. Mostly historical. But gradually consolidating on my discount broker. I have to do a spreadsheet every month to get a consolidated position. Although I have some private placements and seg funds that would still need to be done manually.
For the fun of it...Keith
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Old 07-30-2011, 03:02 PM   #11
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I think the only non-preferential consideration is when your assets at one firm exceed FDIC or SIPR protection limits.
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Old 07-31-2011, 12:47 PM   #12
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Originally Posted by Alan View Post
I use Fido and VG.

I-Bonds at Treasury Direct, other CDs and savings accounts at 3 banks.
I have mine the same as you (Fido being my 401K only though) except I also use E-Trade (for my casino money, so to speak).


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