If you visit my Portfolio page, you'll see a composite view of several accounts (though its is not apparent!). In fact, some stocks are even split across different brokerages. For example, I own shares of Target Corporation (TGT) in a so-called JTWROS account at FolioInvesting and in a trust account at Scottrade.
Having a single view of my DivGro portfolio regardless of the account or brokerage that hosts the individual stocks, simplifies things for me. I don't have to update (or manage) multiple portfolios.
For those who are curious how I do this, I track my DivGro portfolio using a Google Sheets spreadsheet. I have one sheet for data entry and a second sheet that is automatically generated from the first. It is the automatically generated sheet that you see on my portfolio page:
The ability to auto-generate a composite view of my portfolio has another advantage. I can easily add new accounts, combine accounts, or otherwise shift things around.
As mentioned in my latest monthly review, I'm busy transferring my Scottrade account to Interactive Brokers where commission rates are more favorable for options trading. I'm also planning to transfer stocks from FolioInvesting to Interactive Brokers so I can sell covered calls on those stocks. Currently, FolioInvesting does not offer an options trading platform.
Additionally, I'm taking the following steps to consolidate IRA's that my wife and I own:
- Combine two of my IRA's at FolioInvesting into a single IRA (DivGro-IRA-Ft)
- Transfer my IRA from Wells Fargo and combine it with DivGro-IRA-Ft
- Manage my wife's IRA at FolioInvesting as part of DivGro (DivGro-IRA-Rt)
- Transfer my wife's traditional IRA from Wells Fargo and combine it with DivGro-IRA-Rt
- Transfer my wife's Roth IRA from Wells Fargo and manage it as part of DivGro (DivGro-IRA-Rr)
When completed, DivGro will be distributed over five different accounts, one trust account at Interactive Brokers and four IRA's (a traditional and a Roth IRA for me, and a traditional and Roth IRA for my wife) at FolioInvesting.
As I take these consolidation steps, I'll be "transferring" stocks and cash into DivGro and recognize past dividend income, just like I did at the beginning of last year when I brought my Scottrade holdings into the DivGro fold.
These accounts contain some stocks and funds that I don't think belong in DivGro. I'll be selling those positions and transfer the cash instead. Stay tuned!
Thanks for reading!