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Subject:  Re: IRA rollover to more than one account Date:  1/10/2005  8:14 AM
Author:  ItGoesToEleven Number:  43957 of 90110

aktravler85 wrote, "I'm curious why you want to open accounts at different places. What would be your purpose?"

Counter - party risk.
Any individual financial institution faces the possibility of financial, technical , and/or natural disaster type failure. While they may be backed by business continuity plans and/or insurance ... who'd want to wait that long for access to funds?

Just as it's prudent to diversify the allocation of investment classes, it's prudent to spread those assets among competent fiduciaries. Don't put all your eggs in one basket, if you will.


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