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Thank you Karen,
Unfortunately, that was not the kind of Foolish reply I was looking for. I decided to keep it all in one account, basically because it was easier to transfer it into an IRA I already had setup than trying to setup several more and make multiple transfers, although that is still a possibility.
The benefits that I experienced with keeping a large amount with one broker, in this case TD Ameritrade, was that it put me into a prime category with some added benefits. First, because I transferred in a large amount I received a cash bonus. Then I also received 60 days of free trades to be able to invest in the market. In addition, as an ongoing benefit the level of account which I now have gives me lower trade costs and higher interest on cash in the account.
So keeping it all in one broker with one login keeps it simple and gains extra benefits. And if I wanted to I could create additional IRS accounts with the same broker, still have the same benefits, but break up the investments into smaller accounts. I would do this mainly to track strategies easily and separately but for now I have left it all in one account and looking at ways to track investment strategies outside of the brokerage account.
By using a more objective look at this all brokerages are pretty secure but none are guaranteed against fraudulent activities, i.e., recently ATT was duped into giving someone else the SIM ID for a phone account and they were able to drain over a million $ from someone's accounts. So nothing is exempt from fraud. That means there is still a risk having everything in one account, slightly less risk to have multiple accounts with the same broker, and even less risk to have multiple accounts with multiple brokers although less convenience with logins, trading, etc. But the advantages of having one broker with cash reward, free trades, and lower trade costs over time might be a pleasant offset to the risk involved.
My Foolish Answer,
josnfool
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