Guest podcast: How many investment firms should you split your money between?
Here’s another provocative contribution from our SuperAgingNews Network partner, BabyBoomer.org. They have a great lineup of experts across all 7A’s of SuperAging, and we draw on that talent pool to bring you articles and podcasts we know you’ll find engaging. This podcast features financial planner James Conole, discussing the perils and pitfalls of thinking you’re diversified by spreading your funds across multiple institutions.
When it comes to financial planning, “diversification” is a basic concept it’s easy to endorse. But what does it actually mean when you put it into practice? Spreading your investment dollars across multiple stocks? Or multiple asset classes? How about multiple institutions?
James Conole has experienced a surprisingly high number of people with multiple accounts at multiple institutions. Does this really represent diversification? Or is it more likely to create problems? In this lively and provocative discussion, you’ll learn why he thinks the problems significantly outweigh the benefits. Is it time to reconsider your own approach?
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More SuperAging News stories on financial planning:
The Longevity Revolution: Here’s what financial advisers are hearing
How AI is revolutionizing financial planning for older investors
Investing for longevity: 4 questions to ask your financial adviser
Financial advisers warned: “You are underestimating longevity!”
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