The Final, Definitive Thread on Brokerage Transfer Bonuses

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Earl Lemongrab » Wed May 03, 2017 10:30 am

The web form transfer into TDA is relatively new. I don't which custodians they have set up to do that with. Merrill Edge for sure, as that's the source of this latest one.

Even when they had the forms you had to sign, it wasn't necessary to mail them. You could scan and attach to a secure message.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby MisterBill » Wed May 03, 2017 10:02 pm

Has anyone ever managed to get a bonus after adding the funds? I added $160k to my Fidelity account about a month ago, never even thought about signing up for a bonus until now (I know, stupid me, we got a check from an estate distribution and I was in a hurry to deposit it). I was thinking of emailing my Premium Services rep to see if there was anything she could do if I signed up now.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby topofthebellcurve » Thu May 04, 2017 8:30 am

I've been in this same situation with Fidelity. I wasn't able to get the transfer bonus (you have to register in advance), though I did get some free trades.

One solution is to take the money out for X months (whatever length of time the funds need to be out of the system to quality as "new" money -- I think it's 7 or 9 months), and then put it back in.

I've got 150K in a separate Fidelity account in my wife's name that I've been looking to merge into my main Fidelity brokerage. I'm waiting for a good transfer bonus from another bank (ideally from HSBC), so I can move the funds there, collect the bonus, and then 9 months later shift into Fidelity for a 2nd bonus.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby michaeljc70 » Thu May 04, 2017 8:34 am

MisterBill wrote:Has anyone ever managed to get a bonus after adding the funds? I added $160k to my Fidelity account about a month ago, never even thought about signing up for a bonus until now (I know, stupid me, we got a check from an estate distribution and I was in a hurry to deposit it). I was thinking of emailing my Premium Services rep to see if there was anything she could do if I signed up now.


I haven't. They want new accounts so I think it is unlikely. One time about 3 years ago though I put in a transfer from Etrade to TD for $600. Etrade called me and said they would give me $600 to stay, so I did (for a while).

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Earl Lemongrab » Thu May 04, 2017 9:21 am

MisterBill wrote:Has anyone ever managed to get a bonus after adding the funds? I added $160k to my Fidelity account about a month ago, never even thought about signing up for a bonus until now (I know, stupid me, we got a check from an estate distribution and I was in a hurry to deposit it). I was thinking of emailing my Premium Services rep to see if there was anything she could do if I signed up now.

Your best bet is to contact them, tell them you were unaware of the bonus program, and let them know that if you can't get one there you have an offer at TD Ameritrade that you will take advantage of. They might do something, they might not.
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MisterBill
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby MisterBill » Fri May 05, 2017 3:39 pm

michaeljc70 wrote:I haven't. They want new accounts so I think it is unlikely. One time about 3 years ago though I put in a transfer from Etrade to TD for $600. Etrade called me and said they would give me $600 to stay, so I did (for a while).

They want new money, not necessarily new clients. Fidelity offers the bonus once a year if you add extra money. I would have qualified.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby MisterBill » Fri May 05, 2017 3:41 pm

Earl Lemongrab wrote:Your best bet is to contact them, tell them you were unaware of the bonus program, and let them know that if you can't get one there you have an offer at TD Ameritrade that you will take advantage of. They might do something, they might not.

Except I got $1200 from them last year so I clearly know about the bonuses. In fact I had asked my rep about the timing (whether the 12 months was from the date I signed up for it, the date I qualified or the date it was paid -- it was the latter) a few months earlier. At that point I was still within the 12 months of having received the previous offer.

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Earl Lemongrab » Fri May 05, 2017 5:44 pm

Well, I would contact them and see. I don't know what else to tell you.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby diy60 » Fri May 05, 2017 8:47 pm

After registering my accounts at Fidelity and starting the transfers I realized I forgot an account. I called Fidelity within a few days and they negated the registration for me, sent me a new link, and I was able to re-register all of the accounts for the bonus.
+1, It never hurts to ask.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby whodidntante » Sun May 07, 2017 2:16 pm

I have a 55k IRA that is currently at Fidelity and I'm looking for a new home. What's the best offer that is currently available? Looking around, I only see the standard offers.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby student » Sun May 07, 2017 2:27 pm

whodidntante wrote:I have a 55k IRA that is currently at Fidelity and I'm looking for a new home. What's the best offer that is currently available? Looking around, I only see the standard offers.


I think most special offers come around March as many people are thinking about IRA when they are doing taxes.

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Earl Lemongrab » Sun May 07, 2017 5:29 pm

Schwab is offering $300, which is better than most.

http://www.schwab.com/public/schwab/nn/new_client_award.html

Note that this is only for "new customers". I'm not sure how firm they are with that.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby zeugmite » Sun May 07, 2017 9:24 pm

Earl Lemongrab wrote:I just completed a $1000 offer into a Roth IRA at TD Ameritrade. It's nice that they have instituted web-form transfers for at least some source custodians. I did the account opening and transfer on Saturday, and the assets posted today. As it's TDA, they also paid the bonus immediately. There was discussion earlier about how the bonuses are designated in Roths. Here is the transaction log from today:

05/03/2017  10:31:31 REBATE 500
05/03/2017  10:31:31 REBATE 300
05/03/2017  10:31:31 REBATE 100
05/03/2017  10:31:31 REBATE 100

So they call it a "rebate".


So they do pay in tiers! Very nice to know. They never got back to me on my message to them (not happy about that), but the way they post reassures me on the bonus at least.

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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby whodidntante » Fri May 12, 2017 9:35 pm

Earl Lemongrab wrote:Schwab is offering $300, which is better than most.

http://www.schwab.com/public/schwab/nn/new_client_award.html

Note that this is only for "new customers". I'm not sure how firm they are with that.


That is perfect, thanks.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Outafter20 » Sun May 14, 2017 11:31 pm

A question for anyone who has done a transfer into Ameritrade recently. If someone was to rollover an IRA into Ameritrade and receive a bonus (say $250,000 for $600), how long would they have to wait until the could rollover a second IRA to receive a second bonus?

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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby whodidntante » Mon May 15, 2017 12:17 am

Outafter20 wrote:A question for anyone who has done a transfer into Ameritrade recently. If someone was to rollover an IRA into Ameritrade and receive a bonus (say $250,000 for $600), how long would they have to wait until the could rollover a second IRA to receive a second bonus?


I would and I do:
a) wait until I am no longer any restriction to withdraw/transfer funds. For the TDA bonus I accepted, that meant waiting 12 months from when the bonus posted.
b) read the T and C of the new offer to see if there are any restrictions.

It would also be a good idea to ask via secure message so you have a record of them telling that you are eligible for a second bonus.

I have so far found TDA to go above and beyond. They essentially gave me $150 just because I asked them to. I had made a referral under a $50 bonus offer that got them a new client, and within a week or two they upped the referral offer to $200. I asked for the difference and they gave it to me easily. I had no leg to stand on; I was taking a shot in the dark and they impressed me.

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Earl Lemongrab » Mon May 15, 2017 10:06 am

The good thing about TDA is that they pay the bonus immediately in most cases. You have a pretty good idea whether it worked or not.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Outafter20 » Mon May 15, 2017 10:12 am

I know this question has been asked further up in the thread but has anyone recently rolled over an IRA to Ameritrade and received a $600+ bonus recently? I need to make sure they don't count this as a contribution for the tax year.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Earl Lemongrab » Mon May 15, 2017 1:10 pm

Outafter20 wrote:I know this question has been asked further up in the thread but has anyone recently rolled over an IRA to Ameritrade and received a $600+ bonus recently? I need to make sure they don't count this as a contribution for the tax year.

None of the majors do. Here is my post from earlier in the month:

https://www.bogleheads.org/forum/viewtopic.php?f=10&t=196884&p=3353450#p3353450

If they did count it as a contribution, then anyone not eligible for a contribution would need a corrective.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby *3!4!/5! » Fri May 19, 2017 7:16 pm

whodidntante wrote:I have a 55k IRA that is currently at Fidelity and I'm looking for a new home. What's the best offer that is currently available? Looking around, I only see the standard offers.
Earl Lemongrab wrote:Schwab is offering $300, which is better than most.
http://www.schwab.com/public/schwab/nn/new_client_award.html
Note that this is only for "new customers". I'm not sure how firm they are with that.
From what I have read, it is once per lifetime, only for "new customers", and they are absolutely firm about it.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby *3!4!/5! » Sat May 20, 2017 11:50 pm

What are the datapoints on which brokerage transfer bonuses require new accounts, as opposed to just new assets transferred into an existing account?

I realize that creating a new account often won't be that hard, but if you do this repeatedly, it seems you could end up with multiple accounts at various custodians (and closing them may require a fee, unless you can merge the accounts together fee free sometimes). So, do brokerage bonus "veterans" experience a proliferation of used "new" accounts, and if so, what do you do about it?

Another question: when leaving a little bit of assets in an account (after transferring out, to keep it open to maybe use later, and to avoid closing fee) are there any minimum balance requirements at certain custodians to be aware of?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby *3!4!/5! » Sun May 21, 2017 12:04 am

Earl Lemongrab wrote:
siamond wrote:Here is a nice Web page which compares various offers. This seems pretty much up to date.
https://investorjunkie.com/promotions/

I find that one to be tedious and poorly laid out, but to each their own.

I did a search for brokerage transfer bonus listings and found these. Any thoughts on which lists are "better". Did I miss any good ones?

http://www.doughroller.net/investing/br ... d-bonuses/
http://www.brokerage-review.com/article ... tions.aspx
https://www.creditdonkey.com/brokerage-promotions.html
http://www.moneysmylife.com/stock-broker-promotions/
http://www.stockbrokers.com/offers
https://investorjunkie.com/current-stoc ... romotions/
http://www.maximizingmoney.com/category ... rtunities/
http://www.hustlermoneyblog.com/best-brokerage-bonuses/
http://www.bankcheckingsavings.com/best ... romotions/

Also, is seems there are a relatively small number of "main players" and the offers are relatively stable over time, though there are occasionally improved offers. Is this right? What's the best way to get news of those occasional improved offers?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Earl Lemongrab » Sun May 21, 2017 12:08 pm

*3!4!/5! wrote:I did a search for brokerage transfer bonus listings and found these. Any thoughts on which lists are "better". Did I miss any good ones?

This is the one I use most of the time. When I come across other offers that aren't there, I send them to Anthony and he updates the lists.

http://www.hustlermoneyblog.com/best-brokerage-bonuses/

This one is run by the same guy as the one above, and I think the list is the same.

http://www.bankcheckingsavings.com/best-stock-broker-promotions/

*3!4!/5! wrote:Also, is seems there are a relatively small number of "main players" and the offers are relatively stable over time, though there are occasionally improved offers. Is this right? What's the best way to get news of those occasional improved offers?

I'd like this thread to be a good resource. I'll make every effort to report any new, improved, offers I see.
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*3!4!/5!
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby *3!4!/5! » Sun May 21, 2017 5:52 pm

*3!4!/5! wrote:What are the datapoints on which brokerage transfer bonuses require new accounts, as opposed to just new assets transferred into an existing account?

I realize that creating a new account often won't be that hard, but if you do this repeatedly, it seems you could end up with multiple accounts at various custodians (and closing them may require a fee, unless you can merge the accounts together fee free sometimes). So, do brokerage bonus "veterans" experience a proliferation of used "new" accounts, and if so, what do you do about it?

Another question: when leaving a little bit of assets in an account (after transferring out, to keep it open to maybe use later, and to avoid closing fee) are there any minimum balance requirements at certain custodians to be aware of?
Bump.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby tj » Sun May 21, 2017 6:09 pm

*3!4!/5! wrote:
*3!4!/5! wrote:What are the datapoints on which brokerage transfer bonuses require new accounts, as opposed to just new assets transferred into an existing account?

I realize that creating a new account often won't be that hard, but if you do this repeatedly, it seems you could end up with multiple accounts at various custodians (and closing them may require a fee, unless you can merge the accounts together fee free sometimes). So, do brokerage bonus "veterans" experience a proliferation of used "new" accounts, and if so, what do you do about it?

Another question: when leaving a little bit of assets in an account (after transferring out, to keep it open to maybe use later, and to avoid closing fee) are there any minimum balance requirements at certain custodians to be aware of?
Bump.


As far as I know, only Ameritrade requires a new account. Fidelity definitely lets you use the existing account.

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Earl Lemongrab » Sun May 21, 2017 8:00 pm

*3!4!/5! wrote:Another question: when leaving a little bit of assets in an account (after transferring out, to keep it open to maybe use later, and to avoid closing fee) are there any minimum balance requirements at certain custodians to be aware of?

The only one I know of is Scottrade. I mention that somewhere upthread. It's fairly high, like $1500. I have a Fidelity account with $1.10.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby obafgkm » Mon May 22, 2017 6:04 am

I'm considering doing a transfer of my Roth IRA from Vanguard and TIAA to Fidelity and take advantage of the “IRA Match” from Fidelity. Three questions:

I notice that at the moment Fidelity does not seem to have any bonus offers. How often are the bonuses made available (and when), generally?

As long as the amount transferred is above some threshold, the bonus still "works", right? Even if the threshold can be made only by the money coming from multiple sources? (As an example, I would like to transfer $260 grand from TIAA and Vanguard, and exceed a $250 grand threshold).

For the IRA Match offer I'm interested in, it will match up to three years. Are those just calendar years, or 36 months from the time of the transfer for the bonus to go in?

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Postby Earl Lemongrab » Mon May 22, 2017 9:41 am

Interesting. The main Fidelity offers, including the IRA match, now seem to be gone. I haven't used the match one as for the amount needed you can do better moving around between custodians. As the offer isn't up I can't check the fine print, but I would assume (you know how that can go) that it means three yearly IRA contributions regardless of calendar year. However, I would check with Fidelity to see if the offer is even available and if so what the terms are.
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