[Kelly]

How many people have accounts with more thab 1 financial company?

i.e. IRA through Fidelity and a brokeragee through Schwab.
I’m curious as to what some of the reasons may be.

TIA!

[Jule]

I started my Roth IRA account with Vanguard. Then when I switched employers their 401k was with Fidelity and I rolled my previous 401k with them.

Then my RSUs were with them and that’s where a good chunk of our brokerage came from.

This year I started a new Roth IRA with Fidelity, leaving my other vanguard account intact.

[Patrick]

My tIRA and Roth IRA are at Charles Schwab. No reason other than too lazy to change. My accounts started at Scottrade, moved to TD Ameritrade and then Schwab.

My wife has her tIRA and Roth IRA are at Fidelity since her 401k was at Fidelity so it was easy to rollover.

The reason we keep a tIRA and Roth IRA at the same brokerage is the ease at doing conversions.

[Christopher]

I had an ESPP/RSU program through E*Trade, but kept my IRAs and taxable stuff at vanguard.

Later on, I found Fidelity to be more usable for my needs overall, but I don’t feel like dumping old mutual fund positions (and incurring the tax hit) to move everything over there now.

I’ve had cost basis info get lost enough that I just leave stuff where it is.

A couple 1099s a year isn’t a use issue tax-wise.

[Maura]

Work uses Fidelity and my solo 401K and some personal funds are at Schwab.

I’d guess a lot of people have accounts multiple places – I had to consolidate to get it down to two!

[Becca]

We have accounts at multiple companies. If it’s difficult for you to track, highly recommend Monarch money.

It lets you see all your accounts in one place.

[Eva]

It used to be all vanguard until they sold their retirements division. So now it’s a bit messier.

Goal is all Fidelity once they offer Roth for Solos.

[Linda]

Yep, Schwab, which used to be TD Ameritrade, Vanguard, Fidelity. I think it just mostly happens overtime with different types of accounts overtime.

I don’t think there’s any problem with consolidating into one place, but I like the probably unnecessary protection of not having all my eggs in one basket.

[Charles]

I have accounts at Schwab and Fidelity for only two reasons: (1) I did a solo 401k for my wife a few years back and Fidelity was far faster getting it set up than Schwab.

I would not have made the deadline with Schwab; and (2) Fidelity allows for an HSA that is 100% controlled by you.

Schwab you have to go through some bank they have a contract with which seemed like pain.

Since then, I have opened some more accounts at Fidelity, but have now closed them and moved everything but the 401k and HSA to Schwab.

[Ron]

I have Vanguard for IRAs and M1 for taxable. M1 has some issues, but it’s better for the greater of amount of activity and experimentation I have on the taxable side and integration with other needs, like margin loans and high yield savings.

I have a Schwab brokerage, but only for the worldwide ATM fee free debit card on the investor checking account.

I recently lived outside the US for years. I don’t use the Schwab brokerage account.

I also had Betterment at one point. It’s not bad for a certain type of investor, but after a while I felt I didn’t need its automation features.

[Author]

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