Lately, I have met with a number of people taking advantage of our second opinion appointment. I have never seen so many accounts that have statements of 65 pages or more.
The account consists of many individual stocks and a few mutual funds. Most of these holdings have $3000 or less per stock or fund. There is no difference between the holdings in retirement accounts vs. non-retirement accounts. I find this crazy. This shows, in my opinion, that there has been very little weight given to the client’s risk tolerance or investment needs.
Diversification can be a good thing; however, you can be too diversified.

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