Hello Everyone;
My wife and I are working and contributing to our 401(k) (both held at Fidelity). Besides these, we each have two IRA accounts (held and Schwab and Fidelity). I have been doing our overall asset allocation (70/30) across all these accounts. Most of the rebalancing has been done by targeting our new contributions to underweight asset classes. I have a couple of questions and would appreciate any advice:
1- Although the overall asset allocation is reasonable, each IRA is mainly one or two ETFs. For example, one of the IRAs is almost all VTI, and another one is all BND. Should I change this so each account is balanced correctly on its own, or is it okay for me to leave it this way?
2- Should I consolidate these IRAs so each of us has only one IRA (as well as one 401(k))?
3- Since we are about seven years from retirement, we started looking for a financial advisor and earlier this year selected FACET. i liked them since they have a fixed fee (in our case $3k/yr) and not a percentage of AUM. Although they have reviewed and given asset allocation recommendations (all in low-cost indexed ETFs), they want me to move our accounts to APEX Clearing so they can manage daily. I was uncomfortable moving everything from Schwab and Fidelity into APEX, so we moved about 50% of our assets in our taxable account to them so they could manage it. I planned to try this for a couple of years and see how they do. Any additional investment in our taxable account is also going there. However, they also want us to move our IRAs to APEX. The advisor says we are already paying them to help manage our accounts, but they cannot give me rebalancing advice if they are not in APEX. Our 401(k) account has to stay in Fidelity since they are tied to our employers, so even if we move the IRAs to APEX, they cannot help manage across all of our accounts. My question is if we should consolidate and move the IRAs to APEX or just keep them in Fidelity and Schwab.
thank you in advance
Behruz...
My wife and I are working and contributing to our 401(k) (both held at Fidelity). Besides these, we each have two IRA accounts (held and Schwab and Fidelity). I have been doing our overall asset allocation (70/30) across all these accounts. Most of the rebalancing has been done by targeting our new contributions to underweight asset classes. I have a couple of questions and would appreciate any advice:
1- Although the overall asset allocation is reasonable, each IRA is mainly one or two ETFs. For example, one of the IRAs is almost all VTI, and another one is all BND. Should I change this so each account is balanced correctly on its own, or is it okay for me to leave it this way?
2- Should I consolidate these IRAs so each of us has only one IRA (as well as one 401(k))?
3- Since we are about seven years from retirement, we started looking for a financial advisor and earlier this year selected FACET. i liked them since they have a fixed fee (in our case $3k/yr) and not a percentage of AUM. Although they have reviewed and given asset allocation recommendations (all in low-cost indexed ETFs), they want me to move our accounts to APEX Clearing so they can manage daily. I was uncomfortable moving everything from Schwab and Fidelity into APEX, so we moved about 50% of our assets in our taxable account to them so they could manage it. I planned to try this for a couple of years and see how they do. Any additional investment in our taxable account is also going there. However, they also want us to move our IRAs to APEX. The advisor says we are already paying them to help manage our accounts, but they cannot give me rebalancing advice if they are not in APEX. Our 401(k) account has to stay in Fidelity since they are tied to our employers, so even if we move the IRAs to APEX, they cannot help manage across all of our accounts. My question is if we should consolidate and move the IRAs to APEX or just keep them in Fidelity and Schwab.
thank you in advance
Behruz...
Statistics: Posted by behruznassre — Sun Dec 15, 2024 10:40 am — Replies 4 — Views 86