Having two different financial advisors?
Breakdown of NW 400k in basically cash, super conservative investments in a trust which I can fully withdraw anytime 600k in stock managed by financial advisor 500k house paid off- don’t live there or rent it , want to sell it but don’t know what to do with the money besides stocks 50k 401k I am wanting to put more in stocks with financial advisor but concerned it’s not FDIC insured and too much money in one place. Trading account isn’t FDIC insured. Is it reasonable to have a second brokerage account with a different financial advisor , or are financial advisors supposed to divide your investments so not all through one brokerage?
how much returns are you getting from the financial advisor?
It says 19% gain since opened a few years ago but not sure how to just see yearly return
You're probably massively underperforming the market with your advisor.
FDIC only applies to cash. You can have larger stock balances and be fine.
So if I’m happy with financial advisor it would be reasonable to allocate 300k of the 400k conservative investments into the main brokerage account and leave say 100k as savings
What kind of shitty financial advisor do you have that lets you only have 50k in your 401k???
Invest in low cost index funds yourself, or even easier approach, target retirement fund. Ditch financial advisor.
I don’t really trust myself unless I’m just dumping into S&P 500 or something
Then dump it into S&P 500