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Keep your eye on the ball by consolidating your accounts

Keep your eye on the ball by consolidating your accounts

If you’re like many of us here in Jackson, chances are, you’ve changed jobs a few times over the years or have relocated from somewhere else. Maybe you’ve even chosen Jackson Hole as the community that you’ll spend your retirement years in. If so, you may have left behind a string of retirement and other accounts along the way. This can make your financial life complicated and difficult to manage. More importantly, maintaining a number of accounts at a variety of different financial institutions is not the same thing as diversification. Let’s consider a few of the key benefits of consolidation: - Convenience and simplicity. Fewer accounts equal fewer statements, less paperwork at tax time, etc. - You may be paying more fees than necessary. Generally, financial providers set fees based on account size – accounts with larger balances may qualify for break points and lower fees. Merging smaller accounts with one financial institution may provide opportunities to reduce account and transaction fees. - You will be able to take control of your portfolio and manage it more effectively. If you have investments in a number of accounts, it’s difficult to see your overall asset allocation, ensure that your holdings are properly diversified, and effectively manage risk. Bringing your investments under one umbrella can provide a better view of your financial picture and allow you to see where investment opportunities – and potential risks – exist. - Having fewer IRA accounts to keep track of can help make it easier to keep your beneficiary information current-which can supersede any instructions in your will and trust. Chad Driewer and Cody Lockhart at Wells Fargo Advisors know that the task of consolidating your accounts can seem daunting, but they are here locally on Pearl Street to help make the process a breeze! Consolidating your accounts can give you greater control over your finances and allocation strategies, help lower your fees, and make managing your accounts more convenient. Please give us a call at 307-733-9155 to let us know how we can assist you in managing your accounts. #wellsfargojh #sponsored #buckrail #news