Hi,
I am in my 40s and my parents generously have gifted their children with inheritance money now. I am extremely fortunate, but also overwhelmed. The gifts were given by in kind transfers of individual stocks held at Raymond James. The advisor selected stocks carefully to protect my parents' portfolio and also still provide a diverse portfolio to their children. I do not know all of the details of what they considered. The outcome is that I will receive shares in over 150 individual stocks. My investments are at Vanguard (target retirement fund and growth fund), and at TIAA target retirement funds (employer moved retirement plan from Vanguard to TIAA). I like simple portfolios and having only Vanguard and TIAA. I do not know what to do with these Raymond James stocks.
Some of my options I'm thinking about .... My instinct is to do an immediate in kind transfer to either Vanguard or TIAA, but I don't have the knowledge (yet) to figure out how to simplify the portfolio. I could slowly educate myself and try to do it on my own at Vanguard. I could transfer and enlist a Vanguard advisor for less the the RJ advisor. Or I could sit on it for a few months, asking the advisor to help simplify the RJ portfolio.
I would love to create a solid actionable plan, but I think first maybe I need just a big picture plan. I really appreciate the advice from this community.
I am in my 40s and my parents generously have gifted their children with inheritance money now. I am extremely fortunate, but also overwhelmed. The gifts were given by in kind transfers of individual stocks held at Raymond James. The advisor selected stocks carefully to protect my parents' portfolio and also still provide a diverse portfolio to their children. I do not know all of the details of what they considered. The outcome is that I will receive shares in over 150 individual stocks. My investments are at Vanguard (target retirement fund and growth fund), and at TIAA target retirement funds (employer moved retirement plan from Vanguard to TIAA). I like simple portfolios and having only Vanguard and TIAA. I do not know what to do with these Raymond James stocks.
Some of my options I'm thinking about .... My instinct is to do an immediate in kind transfer to either Vanguard or TIAA, but I don't have the knowledge (yet) to figure out how to simplify the portfolio. I could slowly educate myself and try to do it on my own at Vanguard. I could transfer and enlist a Vanguard advisor for less the the RJ advisor. Or I could sit on it for a few months, asking the advisor to help simplify the RJ portfolio.
I would love to create a solid actionable plan, but I think first maybe I need just a big picture plan. I really appreciate the advice from this community.
Statistics: Posted by oz496 — Fri Sep 06, 2024 11:55 am — Replies 2 — Views 65