“Diversification” comes up in virtually every financial planning discussion. But what does it look like, really? To financial planner Brian Leslie, diversification without intention is just fragmentation. In this episode, Brian and host Michael Liersch discuss the ramifications of not reviewing your wealth holistically. Because if you’re trying to reduce risk by keeping money in several different accounts with different managers, you may not have a clear view of how you’re really doing. And what’s worse, if someone needs to handle finances on your behalf, the disorganization could delay getting access to the funds you need.

Brian and Michael also talk about how simplifying your finances may help reduce stress by putting you back in control, how people misunderstand good outcomes as good decision making for the long-term, and the rewards of getting your entire financial picture on one page.

Investing strategies, such as asset allocation, diversification or rebalancing, do not ensure or guarantee better performance and cannot eliminate the risk of investment losses. All investments have inherent risks, including loss of principal. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Past performance does not guarantee future results.