Multiple firms are not usually needed.
The first thing that you should realize before you decide whether or not you should go with one or multiple investment firms is that this is only important if you have enough money to make it worth it. Generally, if you are just trying to invest for your retirement plan, then there really isn’t any reason to go with multiple investment firms. This is because the decisions that you will have to make with your money are fairly simple – and there is no reason to get extra opinions.
However, if you are going to be investing a lot of money, then it might be worthwhile to look into getting more than one investment firm to look at your options. The reason for this is that every investment firm or investment broker will have a different way of figuring out whether or not a particular investment is a good idea for you. As a result, multiple firms will likely come up with slightly different solutions for you – which could make it easier for you to find the best idea (by using a bit of all of the strategies you’re presented with).
There are some disadvantages to going with multiple investment firms, however. If you do not know much about investing, then you’ll have a lot of difficulty deciding which suggestion is the best for you. If you do not think that you’ll be able to confidently pick and choose between the ideas you get from different investment firms, then you should definitely go with only one firm.
That being said, one major advantage to having more than one investment firm is that you can have the two firms deal with portions of your money. This is a good idea if you want to have an even more varied investment portfolio.
Just remember that you should make sure you need to deal with more than one investment firm before you decide to do so. The reason for that is that both firms will charge you for their services – so make sure that you have enough money that it is worth it to pay extra. More than one investment firm is not necessary for the average consumer.