I am 40 years old, and I have been investing with Edward Jones exclusively. I currently have about $415K invested with EJ ($200K in mostly ETFs, plus about $215K in retirement across traditional, SEP, and Roth IRAs).
I have another $185K ($125K cash and $60K 401-K rollover) that I am considering investing, and I would like some advice on what to do with it. The easiest option of course is to take it to EJ and ask them to invest it for me. So far, my EJ adviser seems reasonable and I have been relatively happy with EJ so far, but I am beginning to fear putting all my eggs in one basket. For example, what if EJ or my adviser turns out to be a massive fraud? In that case, wouldn't it be better to have some investments in a completely different firm?
Therefore, I am considering taking this $185K somewhere else and investing until I reach about the level I currently have in EJ. Is this a good or bad idea? If it's a good idea, what do you recommend? Also, please consider that I unfortunately have very little time or financial understanding, and so I realistically cannot manage this money myself, which is why I currently believe a management firm is a good option for me, although I am certainly willing to reevaluate this based on your advice.
Thanks!
Submitted January 22, 2019 at 10:20AM by TheTaillessWunder http://bit.ly/2FFQzDe
