Consolidating Brokerage Accounts to Simplify

When I was younger, I used multiple brokerages (for diversity of benefits and safety) and created multiple accounts for different strategies.  This was helpful during the Great Recession of 08/09 when some brokerages had financial difficulties, with some even going bankrupt, such as Lehman, or money markets funds breaking the buck.  Although, we didn't lose any money, I maintained having multiple brokerages.   In addition, during the teens, at one brokerage I was experimenting with 22 different investment strategies and created an account for each one.

I've decided we have too many accounts and am working to simplify.  My goal it to get down to one brokerage with 6 accounts, titled for a Roth, Traditional IRA and Taxable account for my spouse and me.  This should make it easier to manage and trade and give us a single point of contact.

This weekend I started the process of merging and reducing accounts in our brokerages for a future transition to few brokers.  At this point, I think we can get to 2 brokers.  We shall see.

 For more on New Beginnings, check back every Sunday for a new segment.

This is not financial, brokerage, nor investment advice. Please consult a professional advisor.

Copyright © 2026 Achievement Catalyst, LLC