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Thanks to everyone for your informative posts. IRAs are very confusing!

My purpose in opening accounts with different companies is:

One of my financial new year's resolutions is to take charge of my investments, after letting them float for too long. I am most comfortable with mutual funds, and have been subscribed to the MF Champion Funds newsletter for 6 months. I'm taking an IRA account placed with mutual fund company X (created from a prior 401K rollover from a prior employer) and wish to distribute the amount to 3 different mutual funds, all of which are with different mutual fund companies. I'm shooting for better asset allocation (another resolution!) and am following some Champion Fund recommendations. My assumption is that I am just as able to do this as a discount broker, since I'm not buying individual stocks.

So, I'm getting my feet wet. And hopefully am not getting up to my you-know-what in alligators...

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