Easter Sunday typically falls in April, which also happens to be Financial Literacy Month. Around this time of year, many Americans' thoughts turn to eggs – a situation BMO Financial Group has taken advantage of by releasing financial tips that warn against the dangers of putting all your eggs in one basket.

"Although no investment policy can provide certainty of positive returns, diversification of assets can help reduce portfolio volatility over short-term market cycles," said Dean Urbanski, senior vice president and national sales manager of M&I Financial Advisors, a part of BMO Financial Group. "The key to successful asset allocation is to identify your individual investment objectives which include age, goals, tolerance for risk, current financial situation and retirement timeframe."

"There should never be a moment during your lifetime when your life savings are not heavily diversified across many investment vehicles and firms," adds The Skilled Investor, noting that investment fraud stories are often categorized by the loss of victims' life savings.

So what does a diversified investment portfolio look like? A model example would include asset allocations across several asset classes, including stocks, bonds and cash. Asset classes are affected in different ways by changing economic conditions, and the individual investor's situation can also have an effect. For instance, time until retirement is used as a gauge for risk by many investors.

Of course, consumers have different comfort levels thanks to their varied financial circumstances and risk tolerances.

The idea of diversifying your financial assets may seem daunting, especially if you're unfamiliar with some of the particulars involved. If that sounds like you, a recommended course of action would be to consult a financial services adviser for some professional financial investment advice.

"Managing assets can be a daunting task, but a little guidance and education will go a long way to ensuring your investment health," said Urbanski.

That said, you should still have an active role in managing your finances, even though it may seem easier to consolidate your assets in one place and appoint someone who seems to know what they're doing to look after them. This Easter, consider diversifying your assets rather than putting all your financial eggs in one basket. This is likely to protect something else you hold close to your heart – your nest egg.