Timing on Merging Investment Accounts is Very Important

Tue Feb 20, 2007 8:58:37 am by Dustin
Filed under Finance, General, a little about life

I have had an investment account with Raymond James since I was 7 or so.  Basically I have had it for a really long time.  This last December I graduated from college and made one of my New Years Resolution to get my finances in order.

One of my steps in doing so was to move my Raymond James account to Ameritrade (where I also have an IRA) – since Raymond James is still in the Stone Age of investing.  This last weekend, I filled out the paperwork to do so, making my Raymond James account to be all but inaccessible while the funds are being transfered.

This was a process in the correct direction but did not take place at the right time.  I have been watching the news behind Sirius and XM lately in the hopes to profit off the merger of the two satellite radio systems.  I knew this was going to go through; it was just a matter of when and how large of a profit one would be able to take.  Well today the two announced the merger.  Instantly, both stock prices grew dramatically.  As of now XM is up about 12% and Sirius is up ~9%.  This would have been an easy profit to take for a days work.  Most people are not able to make a 12% profit in a given year.  The transfer of my accounts came at a completely horrible time.

The moral of the story is to know when you are going to need your money before making it inaccessible.  I will have to remember this in the future.  Does anybody out there have any other suggestions?


  1. Brandon

    Ouch. Well, at least you had an investment fund at 7… You win some, you lose some.