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I have about 84 k from previous company. I already have it's/brokerage accounts of 137k in E-Trade, 18k in Ally, 33k in fidelity. Should I combine the 84 with one of my existing or open a new account at another brokerage?
The plus of combining would be less accou nts to manage, possibly less trading fees as I could just trade my consolidated balance. Downside is not being diversified or spread out, in case something happens to my 3 accounts.
I have about 84 k from previous company. I already have it's/brokerage accounts of 137k in E-Trade, 18k in Ally, 33k in fidelity. Should I combine the 84 with one of my existing or open a new account at another brokerage?
The plus of combining would be less accou nts to manage, possibly less trading fees as I could just trade my consolidated balance. Downside is not being diversified or spread out, in case something happens to my 3 accounts.
Rolling from a 401(k) to an IRA affords you plenty of diversification options regardless of the brokerage company and are all decent so long as you research (and ask questions) regarding a specific fund. You could have all of your retirement money in Fidelity, for example, and diversify within plenty.
My personal opinion on this is to consolidate as much as you can but have separate companies handle retirement and banking/brokerage. I have retirement (401k and IRA) with one and banking and my brokerage at another. Keep things simple and easy to manage.
I like having assets at several institutions as you never know what problems could come up with someone trying to access your accounts. Fidelity and E Trade are good and I see no problem in picking one of them. If you want a new broker Vanguard might be of interest.
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