Spring Cleaning

I’ve come to realize that I’m a hoarder.  Not only in the random boxes stuffed in the garage, but in my portfolios as well.  There was a logical method to my madness (pun intended since it’s March) but I’ve come to realize that the amount of time managing three portfolios across (I believe eleven or twelve) platforms is a bit much.

So today, being the first day of Spring, saw my initial efforts at consolidation.  I decided to leave the IRAs and Option account alone for now and begin with one of my taxable portfolios.  It was November 2002 when I last went through this exercise so it was probably overdue anyway.  Then I had a couple of brokerage accounts.  Now I have several.  Then I owned about ten stocks.  After I finish, I should prune back to about 110.

I’ve decided to use four platforms going forward with no duplication in stocks.  For instance, KMB was held in Motif and Computershare (DRIP). With the fees being similar, Computershare gets KMB.

The four accounts are:

  1. Brokerage – limit orders, GTCs, Covered Calls
  2. DRIPs (batch)
  3. Motif (market only)
  4. Loyal3 (batch,limited selection)

Over the next few weeks I expect to complete this without significantly impacting my dividend payment flow.

Until then …

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