Too many brokerage accounts ?
#investments #personalfinance Got a question for you guys... With my prev company RSU allocation, I started having an account with E-Trade (many years ago) To execute commission free trades, I opened an account with Robinhood (etrade trades were expensive at that time) To play with options I opened an account with TD Ameritrade (Robinhood did not support options at that time ) As I read a lot of good things about the robo advisor, I opened an account with Betterment To invest in vanguard funds, I opened an account with vanguard as well#personalfinance . I'm currently cashing out current company RSU allocation to diversify my funds. I plan to open a new brokerage account with JP Morgan. I feel it is easier for me to track the performance of current company RSU allocation funds and to train myself to be better at the RSU selling strategy in the future. Is this normal? Is it okay to have these many brokerage accounts
Yes just transfer all your stocks, funds to one place. Atleast you can transfer previous company RSUs to some other brokerage and close it. You can close Robinhood as well (many other brokerages have commission free trade). None of the reasons you gave are compelling enough to stay with that brokerage
Have you transfer RSU from one etrade account to another? Is there a fee involved in this?
Yes I transferred from Schwab to E-Trade.... Then E-Trade to E-Trade. For the first, E-Trade pays transfer fee upto some extent and I didn't had to pay. For second, no fee
I move everything to Fidelity. No more stressful
I am facing a similar problem, I have one etrade account from my previous employer and i would get a new one from my current employer. I dont want to keep two etrade accounts, but i want to retain the stocks from my previous employer, what should i do?
You can transfer the custody of all those securities to a single broker if you want.