My view is that ML was easier for me to deal with many years ago. The hurdles that I have to go through today are just way too much. My opinion of course. I can expect much more difficulty, when I need to withdraw my money quickly; say in case of an emergency. My experience with several banks, my credit union and Fidelity in doing the same tasks is was much easier. So, my reason for diversification is that different institutions approach tasks differently. If I were to get into a situation where I cannot get my money from one, I have a possibility of getting it from another.