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Released: August 09, 2010

Consolidating financial accounts may not be ideal

Source: Matt Krantz, USA Today

Q: I have opened a number of accounts with several brokerages and mutual fund companies. Is it worthwhile to consolidate those accounts with a single firm?

A: There’s something to be said about financial simplicity. By keeping all your investments with one or a few brokerage firms, it should be easier for you to keep tabs on your assets. But there are some drawbacks, too.

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