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You may also want to have multiple brokerage accounts of the same type, if you’re working with an investment advisor, who will be only involved with a certain portion of your portfolio. They can have a limited trading authority over just that asset amount. And usually their fees are based on assets under management. So you can have an advisor deal with stocks, options, whatever, and be compensated accordingly. Meanwhile you can have CDs, treasuries, etc. in another account for which the advisor is not involved.

Bill
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Yes, you can have multiple accounts of the same type at the same brokerage. Many of my clients do that to separate different "buckets" (such as stock, bonds, municipal bonds, options, etc. or investment vs. day-trading). It's not so relevant today under TCJA, but still comes in handy when preparing state returns where investment expenses may still be deductible.

Ira
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Thank you. That was my intention as well. Obviously you can do it within a single account but buckets make it a bit easier.
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In many states, you can arrange TODs (transfer on death) with your broker. That transfers assets to your heirs without going through probate.

I use multiple accounts to serve different sets of heirs. And to exclude some funds from TOD to pay cover final estate expenses.

Yes, Fidelity allows multiple accounts. This adds a bit of complexity at tax time, but can be useful.
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You may also want to have multiple brokerage accounts of the same type, if you’re working with an investment advisor, who will be only involved with a certain portion of your portfolio. They can have a limited trading authority over just that asset amount. And usually their fees are based on assets under management. So you can have an advisor deal with stocks, options, whatever, and be compensated accordingly. Meanwhile you can have CDs, treasuries, etc. in another account for which the advisor is not involved.

Bill
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