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

Post by 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

Post by 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

Post by 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

Post by 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

Post by 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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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 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

Post by 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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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 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

Post by 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

Post by 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

Post by 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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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 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/ ... 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

Post by 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

Post by 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/ ... 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

Post by 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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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 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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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 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

Post by 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

Post by 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:

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

Post by *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/ ... 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

Post by *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

Post by *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

Post by 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 ... romotions/
*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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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *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

Post by 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

Post by 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

Post by 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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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 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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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Wed May 24, 2017 3:11 am

Have any folks had experience with Schwab's offers with different types of accounts, i.e. taxable and tax-deferred? Merrill Edge, for example, makes their offers available independently of each other, so I've been able to take advantage of bonuses from both types concurrently. I'd like to do the same now with Schwab -- but it might be a bit challenging with their 12-month rolling schedule before qualifying for another bonus. Currently have a taxable, and would like to do an IRA, as well.

They've been very good about matching the best available offer out there, as my local rep has matched me and my family members at least 3 times over the past few years. At the same time, I feel a bit guilty for contacting him, basically, only for bonus matches :P He's mentioned the 12-month rolling period to me in the past, but I've only inquired about adding more assets to the existing taxable account, not a separate tax-deferred one

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Sun Jun 04, 2017 3:53 am

Has anyone succeeded in transferring Vanguard Admiral Shares into ETrade?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Wed Jun 07, 2017 12:44 am

Is a transfer from MEdge to ETrade online or is it by paper form (or does it depend on full or partial transfer)?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Wed Jun 07, 2017 12:54 am

*3!4!/5! wrote:Is a transfer from MEdge to ETrade online or is it by paper form (or does it depend on full or partial transfer)?
Both support ACATS electronically, so should be fully electronic. I just did an Etrade transfer a few weeks ago, took only 2 days.

CapOne Investing/Sharebuilder's one of the only/few major firms that's still paper-based.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Wed Jun 07, 2017 7:32 am

pre wrote:
*3!4!/5! wrote:Is a transfer from MEdge to ETrade online or is it by paper form (or does it depend on full or partial transfer)?
Both support ACATS electronically, so should be fully electronic. I just did an Etrade transfer a few weeks ago, took only 2 days.

CapOne Investing/Sharebuilder's one of the only/few major firms that's still paper-based.
Where did you go to and from, and was the process purely online for you?

Was the "to" account newly created or already established?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Wed Jun 07, 2017 12:31 pm

*3!4!/5! wrote:Is a transfer from MEdge to ETrade online or is it by paper form (or does it depend on full or partial transfer)?
I don't think many require actual paper. As I recall, ETrade can do everything from a web form for most custodians. You'd need to check specifically for Edge, but I think so.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Gamma Ray » Fri Jun 09, 2017 12:11 pm

Hi, before I ask the question elsewhere, I thought I'd ask here. Is there a similar thread for Savings/Checking/MM new account bonus thread?

PS: I was thinking about CapitalOne 360 Checking + MM for $400 with extremely low $2000 deposit requirement, but I just read that it's targeted, despite showing up on few websites with links to the deal. I decided not to open it.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ND Fan 1 » Fri Jun 09, 2017 3:53 pm

Gamma Ray wrote:Hi, before I ask the question elsewhere, I thought I'd ask here. Is there a similar thread for Savings/Checking/MM new account bonus thread?

PS: I was thinking about CapitalOne 360 Checking + MM for $400 with extremely low $2000 deposit requirement, but I just read that it's targeted, despite showing up on few websites with links to the deal. I decided not to open it.
Below is a recent thread discussing bank bonuses, specifically Cap One 360, though other banks are discussed. Honestly the best resource for bank bonuses is Doctor Credit.

viewtopic.php?t=212865

Doctor of Credit
http://www.doctorofcredit.com/best-bank-account-bonuses

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Sun Jun 11, 2017 9:18 pm

*3!4!/5! wrote:
pre wrote:
*3!4!/5! wrote:Is a transfer from MEdge to ETrade online or is it by paper form (or does it depend on full or partial transfer)?
Both support ACATS electronically, so should be fully electronic. I just did an Etrade transfer a few weeks ago, took only 2 days.

CapOne Investing/Sharebuilder's one of the only/few major firms that's still paper-based.
Where did you go to and from, and was the process purely online for you?

Was the "to" account newly created or already established?
I transferred from Schwab, all online. I have an IRA I wanted to transfer, as well, and my local Etrade rep said I'd qualify for another bonus in 60 days, so I'll be transferring that from Merrill Edge next month.

Every time I transfer, I create a new online account profile. Just in case there's a hassle about being/having a "new" customer or account.

Schwab's the only one of the major firms that I've transferred into my previous/old account. I get my local rep to match the best competing offer at the moment, and their marketing department actually sends me a letter documenting the match (terms, amounts, etc.) a few days later. So then my rep just has me transfer directly into my existing/old/empty account. I've only done this ~3 times, and all happened to be taxable accounts.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Sun Jun 11, 2017 10:44 pm

pre wrote:
*3!4!/5! wrote:
pre wrote:
*3!4!/5! wrote:Is a transfer from MEdge to ETrade online or is it by paper form (or does it depend on full or partial transfer)?
Both support ACATS electronically, so should be fully electronic. I just did an Etrade transfer a few weeks ago, took only 2 days.

CapOne Investing/Sharebuilder's one of the only/few major firms that's still paper-based.
Where did you go to and from, and was the process purely online for you?

Was the "to" account newly created or already established?
I transferred from Schwab, all online. I have an IRA I wanted to transfer, as well, and my local Etrade rep said I'd qualify for another bonus in 60 days, so I'll be transferring that from Merrill Edge next month.

Every time I transfer, I create a new online account profile. Just in case there's a hassle about being/having a "new" customer or account.

Schwab's the only one of the major firms that I've transferred into my previous/old account. I get my local rep to match the best competing offer at the moment, and their marketing department actually sends me a letter documenting the match (terms, amounts, etc.) a few days later. So then my rep just has me transfer directly into my existing/old/empty account. I've only done this ~3 times, and all happened to be taxable accounts.
So you now have multiple accounts at ETrade? What happens each time you transfer out of ETrade (with fees etc)?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Sun Jun 11, 2017 11:53 pm

*3!4!/5! wrote:
pre wrote:
*3!4!/5! wrote:
pre wrote:
*3!4!/5! wrote:Is a transfer from MEdge to ETrade online or is it by paper form (or does it depend on full or partial transfer)?
Both support ACATS electronically, so should be fully electronic. I just did an Etrade transfer a few weeks ago, took only 2 days.

CapOne Investing/Sharebuilder's one of the only/few major firms that's still paper-based.
Where did you go to and from, and was the process purely online for you?

Was the "to" account newly created or already established?
I transferred from Schwab, all online. I have an IRA I wanted to transfer, as well, and my local Etrade rep said I'd qualify for another bonus in 60 days, so I'll be transferring that from Merrill Edge next month.

Every time I transfer, I create a new online account profile. Just in case there's a hassle about being/having a "new" customer or account.

Schwab's the only one of the major firms that I've transferred into my previous/old account. I get my local rep to match the best competing offer at the moment, and their marketing department actually sends me a letter documenting the match (terms, amounts, etc.) a few days later. So then my rep just has me transfer directly into my existing/old/empty account. I've only done this ~3 times, and all happened to be taxable accounts.
So you now have multiple accounts at ETrade? What happens each time you transfer out of ETrade (with fees etc)?
Just think of each account independently, separate outgoing transfer fees.

Most brokers will reimburse for those fees, having gained a new client.

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

Post by SlowMovingInvestor » Mon Jun 12, 2017 7:04 pm

pre wrote: Schwab's the only one of the major firms that I've transferred into my previous/old account. I get my local rep to match the best competing offer at the moment, and their marketing department actually sends me a letter documenting the match (terms, amounts, etc.) a few days later. So then my rep just has me transfer directly into my existing/old/empty account. I've only done this ~3 times, and all happened to be taxable accounts.
I have a fairly large (almost 7 figure) 401k balance at a previous employer that I'm thinking of rolling over to an IRA.

The best xfer bonus right now seems to be with TDAmeritrade (2.5K), but I'd rather not rollover to them.

if I understand this message correctly, Schwab will match a competing transfer/funding offer from another brokerage even if their web site doesn't explicitly mention it -- so they would match TDAM"s offer if I push a little ?

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

Post by pre » Mon Jun 12, 2017 7:38 pm

SlowMovingInvestor wrote:
pre wrote: Schwab's the only one of the major firms that I've transferred into my previous/old account. I get my local rep to match the best competing offer at the moment, and their marketing department actually sends me a letter documenting the match (terms, amounts, etc.) a few days later. So then my rep just has me transfer directly into my existing/old/empty account. I've only done this ~3 times, and all happened to be taxable accounts.
I have a fairly large (almost 7 figure) 401k balance at a previous employer that I'm thinking of rolling over to an IRA.

The best xfer bonus right now seems to be with TDAmeritrade (2.5K), but I'd rather not rollover to them.

if I understand this message correctly, Schwab will match a competing transfer/funding offer from another brokerage even if their web site doesn't explicitly mention it -- so they would match TDAM"s offer if I push a little ?
Do give them a call. In my experience, Schwab has tried to earn my business with matches via both their main 800-number and via my local rep (i.e. the reps at the 800-number take down my info and pass it on to my local office). Basically I provided the rep the link to the competing offer and how much I'm looking to transfer, and they'd phone/email me to state marketing had approved it before I'd proceed.

On a related note, TDA also has the other offer of $1k for $250k in assets. So if you find a particularly eager and imaginative sales rep, s/he may find you a way to stagger your account rollover in stages to further maximize your earnings -- say, four separate transfers of $250k each (4 x $1k = $4k compared to one $2.5k bonus). This would likely depend on some luck and charisma on your part, but I imagine the straight $2.5k match won't be an issue.

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

Post by Earl Lemongrab » Mon Jun 12, 2017 11:26 pm

Yeah, if it were me I'd chop that into four rollovers and see how many custodians I could get to match TD Ameritrade. And use TDA, but then I like them as a custodian.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Jun 13, 2017 6:07 pm

Earl Lemongrab wrote:Yeah, if it were me I'd chop that into four rollovers and see how many custodians I could get to match TD Ameritrade. And use TDA, but then I like them as a custodian.
But you have to leave the funds with most providers for a certain period of time (4-6 months) to get the bonus, right ? Not all providers have good cheap funds available, so I'm reluctant to leave too much money with them -- the bonus could be overwhelmed by high expense ratios in funds (although I suppose I could get ETFs).

I'm not sure if my 401k plan allows partial rollovers, so presumably I would have to do a full rollover to an IRA (actually 2 , since my 401k is part pre tax)., first, then do partials to another provider.

Also, does the bonus go to the IRAs (I.e. its not currently taxable) ?

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

Post by Earl Lemongrab » Wed Jun 14, 2017 9:22 am

SlowMovingInvestor wrote:But you have to leave the funds with most providers for a certain period of time (4-6 months) to get the bonus, right ? Not all providers have good cheap funds available, so I'm reluctant to leave too much money with them -- the bonus could be overwhelmed by high expense ratios in funds (although I suppose I could get ETFs).

I'm not sure if my 401k plan allows partial rollovers, so presumably I would have to do a full rollover to an IRA (actually 2 , since my 401k is part pre tax)., first, then do partials to another provider.

Also, does the bonus go to the IRAs (I.e. its not currently taxable) ?
1. Yes, there is a retention period.
2. I use exclusively ETFs for flexibility and cost.
3. If you have to multi-stage then it adds a bit of complexity. It wouldn't bother me, but that's something you'd need to work out for yourself. Then again, my plan allows distributions of any size.
Edit: 4. Most custodians put the bonus in the IRA. I suggest reviewing the mini-FAQ at the start of the thread.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SJR » Thu Jun 15, 2017 9:53 pm

I was browsing this thread and was wondering, for someone new to this, is there a good brokerage to start with that is easy to transfer to (with minimal headache), has a great bonus, and is able to hold admiral shares?

I was waiting for the Merrill Edge increased bonuses, but figured I may as well start elsewhere instead of waiting.

Thanks :sharebeer

1andDone
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 1andDone » Thu Jun 15, 2017 11:06 pm

SJR wrote:I was browsing this thread and was wondering, for someone new to this, is there a good brokerage to start with that is easy to transfer to (with minimal headache), has a great bonus, and is able to hold admiral shares?

I was waiting for the Merrill Edge increased bonuses, but figured I may as well start elsewhere instead of waiting.

Thanks :sharebeer
I just transferred some of my taxable account to TD Ameritrade and it was very quick and painless. Granted, I hold ETFs so I'm not sure about mutual fund shares. But I was able to do everything online and the transfer was completed and the bonus paid within a few business days. Easiest $1,000 I've ever made! :) :moneybag

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Fri Jun 16, 2017 12:35 am

SJR wrote:I was browsing this thread and was wondering, for someone new to this, is there a good brokerage to start with that is easy to transfer to (with minimal headache), has a great bonus, and is able to hold admiral shares?

I was waiting for the Merrill Edge increased bonuses, but figured I may as well start elsewhere instead of waiting.

Thanks :sharebeer
Dump your requirement for admiral shares and there are several good options. Convert to ETFs, vanguard or otherwise, and you'll find it easy to win the brokerage bonus game. I like TDA a lot but just go with the best bonus available.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by *3!4!/5! » Fri Jun 16, 2017 1:00 am

SJR wrote:I was browsing this thread and was wondering, for someone new to this, is there a good brokerage to start with that is easy to transfer to (with minimal headache), has a great bonus, and is able to hold admiral shares?

I was waiting for the Merrill Edge increased bonuses, but figured I may as well start elsewhere instead of waiting.
Multiple positive reports in these threads.
viewtopic.php?f=10&t=196884
viewtopic.php?f=2&t=150033
viewtopic.php?f=1&t=195377

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

Post by Earl Lemongrab » Fri Jun 16, 2017 11:37 am

A number allow holding existing Admiral index fund shares, even reinvesting, but buying new shares is rare. Some have had availability at one time or another. I just switched to all ETFs and that eliminates the concern for me. Some people complain about not being able to buy during the day, but most people have smart phones and a lunch break.
This week's fortune cookie: "You will do well to expand your horizons." Ow. Passive-aggressive and vaguely ominous.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Fri Jun 16, 2017 4:21 pm

Earl Lemongrab wrote:
SlowMovingInvestor wrote:But you have to leave the funds with most providers for a certain period of time (4-6 months) to get the bonus, right ? Not all providers have good cheap funds available, so I'm reluctant to leave too much money with them -- the bonus could be overwhelmed by high expense ratios in funds (although I suppose I could get ETFs).

I'm not sure if my 401k plan allows partial rollovers, so presumably I would have to do a full rollover to an IRA (actually 2 , since my 401k is part pre tax)., first, then do partials to another provider.

Also, does the bonus go to the IRAs (I.e. its not currently taxable) ?
1. Yes, there is a retention period.
2. I use exclusively ETFs for flexibility and cost.
3. If you have to multi-stage then it adds a bit of complexity. It wouldn't bother me, but that's something you'd need to work out for yourself. Then again, my plan allows distributions of any size.
Edit: 4. Most custodians put the bonus in the IRA. I suggest reviewing the mini-FAQ at the start of the thread.
Thanks for the information.

Does Fidelity do any bonus matching ? They used to have the same bonus structure as TDA, but seem to have to dropped it this quarter. An additional issue is that my 401k is with Fidelity, and they do not give any bonuses for rollovers from Fido managed 401ks. So any rep would have to override 2 Fidelity rules to offer a bonus.

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