In the latest FINRA Investor Podcast, Dan Rutherford and Gerri Walsh discuss tips to help investors organize their financial documents and keep track of their investments. An investment portfolio can generate a great deal of paperwork, including trade confirmations, account statements, and 1099 tax records. Managing account information properly can help investors track their investments better, ensure they are being managed in accordance with their instructions, and can help alert investors in the unlikely event of identity theft or other unauthorized activities. Good recordkeeping can also help in dealings with brokers, advisers, and tax advisers and preparers.
FINRA's latest podcast provides some practical advice on how to keep and safeguard your paper and electronic investment records, including how to dispose of these sensitive documents, and how long to retain your records.
This and other FINRA Investor Podcasts are available at: http://www.finra.org/Investors/Subscriptions/Podcasts/index.htm