When it comes to investment and retirement portfolios, many of us have an alphabet soup of financial instruments floating among different employer, brokerage and bank accounts, and often managed by multiple advisors. Consolidating those 401Ks, mutual funds, IRAs, CDs and savings accounts onto one platform can help you spell out a clearer financial future. Why? It’s as simple as A, B, C.
A. Simplify Your Life: Life is crazy enough without trying to keep up with a smorgasbord of financial accounts and their related paperwork, annual statements and online passwords, not to mention the headache of navigating several financial websites to get the information you need. One consolidated platform, under a trusted advisor, allows you to simply your financial life and the clutter that comes with it. Your life may also be made easier at tax time, because one account may make tax reporting more straightforward.¹
B. Develop a More Comprehensive Portfolio: Smart investors develop their portfolio based on their risk tolerance and retirement time horizon. Most experts suggest you rebalance your portfolio at least once a year as part of an annual portfolio review.2 Unless you’re a math wizard, it’s much harder to rebalance your portfolio percentages accurately when your holdings are scattered across various accounts and investment vehicles. A single view of your overall financial picture makes rebalancing much easier and can help you get a better handle on your long-term investment strategy. Consolidating your accounts also allows you to avoid asset duplication, unnecessary risk exposure, and improves overall portfolio efficiency.3 Simply stated, a single, consolidate platform and view of your holdings allows you and your advisor to efficiently determine your overall portfolio position and asset allocation strategy to help you better save and plan for the future.
C. Gain Flexibility: With a well-respected financial services provider, you often have greater flexibility and choices in the types of financial instruments available. You can truly diversify your portfolio to suit your needs, instead of being constrained by the limited options provided by your current employer, brokerage house or savings institution.
Once you’re ready to consolidate, consult with a financial professional to safely put all your eggs in one basket. Be aware that selling or transferring certain financial instruments early could trigger tax implications. Your financial advisor will walk you through what’s best for you.
Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.
Park Avenue Securities LLC (PAS) is an indirect, wholly-owned subsidiary of The Guardian Life Insurance Company of America (Guardian). PAS is a registered broker-dealer offering competitive investment products, as well as a registered investment adviser offering financial planning and investment advisory services.
PAS is a member of FINRA and SIPC.