Q: I have a 401(k), 2 IRA accounts, and I am considering consolidating them into one account. The 2 IRA’s are with 2 different financial advisers. The 401(k) is positive for the year. One IRA is down 1.7% and utilizing mostly mutual funds. The other IRA is down 7.8% and utilizing mostly ETFs. Considering that next year should be the same as this year, if I do consolidate accounts, it seems the consolidation should be into the mutual fund account. Any thoughts?
A: The performance you’ve experienced, or lack of performance, is most likely based on the asset classes you’re invested in and not the actual investment vehicle such as a mutual fund or ETF. I would be happy to have a conversation, either over the phone or in-person, to discuss strategies to help you achieve your goals regarding your personal finances.