The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by motorcyclesarecool » Thu Mar 29, 2018 12:51 pm

Earl Lemongrab wrote:
Sun Mar 18, 2018 3:10 pm
The ones that I have as available, not showing the Edge and Etrade:

TDAmeritrade, expires 9/30/2018, holding period 12m: $50.00 (25K), $200.00 (50K), $500.00 (100K), $1,000.00 (250K)
PNC, expires 6/30/2018, holding period 12m: $50.00 (25K), $100.00 (50K), $200.00 (100K), $600.00 (250K)
FirstTrade, expires 4/17/2018, holding period 12m: $100.00 (25K), $200.00 (50K), $300.00 (100K)
Ally, expires 3/31/2018, holding period 12m: $200.00 (25K)

The TDA probably doesn't help either if you're going to be coming from them.
I can’t find TDA $500 for 100k offer. I only find $300 plus 60 days’ free trading. Should I look elsewhere?
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

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

Post by libralibra » Thu Mar 29, 2018 1:35 pm

https://www.tdameritrade.com/offer/for90days/index.html

also, if you get a referral from a friend, the offer is the same and your friend gets $50. Last year around this time TD bumped that up to $200 for the friend, so you could wait and see if that happens again.

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

Post by motorcyclesarecool » Thu Mar 29, 2018 5:16 pm

libralibra wrote:
Thu Mar 29, 2018 1:35 pm
https://www.tdameritrade.com/offer/for90days/index.html

also, if you get a referral from a friend, the offer is the same and your friend gets $50. Last year around this time TD bumped that up to $200 for the friend, so you could wait and see if that happens again.
Thank you!
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

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

Post by JustinR » Sun Apr 01, 2018 9:11 pm

Which brokerages allow you to have multiple accounts at the same time that are completely separate, allowing you to do multiple bonuses simultaneously or consecutively?

Example 1:
Year 1, I transfer Vanguard to new accounts at Schwab and TDA for bonuses.
Then in Year 2 I transfer the Schwab to a new TDA account for a bonus, and transfer the TDA to a new Schwab account for a new bonus.

Example 2:
I have $400k. Instead of transferring it all to Schwab for one bonus, I transfer $100k to four different new Schwab accounts, for four bonuses.

Mainly looking for data on TDA, Schwab, Merrill Edge, Etrade, Firstrade.

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

Post by Earl Lemongrab » Sun Apr 01, 2018 11:30 pm

I doubt any would let you do it simultaneously. Some limit the number per 12 month period and such.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by SlowMovingInvestor » Mon Apr 02, 2018 8:10 pm

Somewhat related to this thread --

I got a 1099-MISC for one of my bonuses (in a taxable account) from the broker. Income is reported in Box 3, Other Income I downloaded this into Turbo Tax, and TT is asking me a lot of questions about the 1099-MISC, and then finally told me I need to pay self employment tax on this. I guess it thinks this is for a 'job' ? Do I have to convince TT that this is not 'employment' ?

Since I've already maxed out SS, I'm assuming I would have to pay around 2.9% of bonus (twice Medicare tax) ? But otherwise, would I have had to pay the Net Investment income tax 3.8% (at my income level, I pay that on other investment income).

The reason I'm asking on this thread is that I presume some of the folks here have faced this situation, and I wonder how you dealt with it.

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

Post by rhinopylon » Mon Apr 02, 2018 8:20 pm

SlowMovingInvestor wrote:
Mon Apr 02, 2018 8:10 pm
Somewhat related to this thread --

I got a 1099-MISC for one of my bonuses (in a taxable account) from the broker. Income is reported in Box 3, Other Income I downloaded this into Turbo Tax, and TT is asking me a lot of questions about the 1099-MISC, and then finally told me I need to pay self employment tax on this. I guess it thinks this is for a 'job' ? Do I have to convince TT that this is not 'employment' ?

Since I've already maxed out SS, I'm assuming I would have to pay around 2.9% of bonus (twice Medicare tax) ? But otherwise, would I have had to pay the Net Investment income tax 3.8% (at my income level, I pay that on other investment income).

The reason I'm asking on this thread is that I presume some of the folks here have faced this situation, and I wonder how you dealt with it.
I had some problems entering in some 1099-INTs last year and the easiest way is to just delete the auto scanned version from TT and then enter it in manually.

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

Post by SlowMovingInvestor » Mon Apr 02, 2018 8:27 pm

rhinopylon wrote:
Mon Apr 02, 2018 8:20 pm
SlowMovingInvestor wrote:
Mon Apr 02, 2018 8:10 pm
Somewhat related to this thread --

I got a 1099-MISC for one of my bonuses (in a taxable account) from the broker. Income is reported in Box 3, Other Income I downloaded this into Turbo Tax, and TT is asking me a lot of questions about the 1099-MISC, and then finally told me I need to pay self employment tax on this. I guess it thinks this is for a 'job' ? Do I have to convince TT that this is not 'employment' ?

Since I've already maxed out SS, I'm assuming I would have to pay around 2.9% of bonus (twice Medicare tax) ? But otherwise, would I have had to pay the Net Investment income tax 3.8% (at my income level, I pay that on other investment income).

The reason I'm asking on this thread is that I presume some of the folks here have faced this situation, and I wonder how you dealt with it.
I had some problems entering in some 1099-INTs last year and the easiest way is to just delete the auto scanned version from TT and then enter it in manually.
I don't think it had any trouble downloading the form, since it shows up properly in TT's internal forms with the bonus reported on Box 3. My question is probably more whether a bonus reported in this manner should be subject to Self Employment tax, or to the Net Investment Income Tax or to neither ?

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

Post by indexfundfan » Mon Apr 02, 2018 8:45 pm

My understanding is that these are not self employment income. It is not from a job.
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libralibra
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by libralibra » Mon Apr 02, 2018 9:42 pm

Box 3 triggers a question like "intent to earn money" or something. Make sure you answer "no", otw it will consider it SE income.

I had a brokerage bonus show up as Interest which I was pretty unhappy to see since it adds to the Obamacare tax. Called to see if they would recategorize it as Misc, but they couldn't, so you got lucky.

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

Post by JustinR » Fri Apr 06, 2018 2:56 am

1) Has anyone moved their funds back to Vanguard? Has Vanguard ever offered to pay transfer fees?

2)Which brokerages typically offer to refund your transfer fees when you move to them?

3) Does the "free conversion from index fund to ETF" offer only exist at Vanguard? So I should do all conversions at Vanguard before moving it to a separate brokerage? The reason I ask is that certain brokerages let you transfer in Admiral funds (you just can't trade them), so I have to decide whether I should convert them first if I have to do it at Vanguard.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Nate79 » Fri Apr 06, 2018 10:00 am

JustinR wrote:
Fri Apr 06, 2018 2:56 am
1) Has anyone moved their funds back to Vanguard? Has Vanguard ever offered to pay transfer fees?

2)Which brokerages typically offer to refund your transfer fees when you move to them?

3) Does the "free conversion from index fund to ETF" offer only exist at Vanguard? So I should do all conversions at Vanguard before moving it to a separate brokerage? The reason I ask is that certain brokerages let you transfer in Admiral funds (you just can't trade them), so I have to decide whether I should convert them first if I have to do it at Vanguard.
2) I know Schwab will refund your transfer fees if you ask them. I recently did this.
3) I think this can only be done at Vanguard.

Big Dutch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Big Dutch » Fri Apr 06, 2018 10:13 am

vested1 wrote:
Wed Jan 31, 2018 10:26 am
duckcalldan wrote:
Tue Jan 30, 2018 8:28 am
vested1 wrote:
Sun Jan 28, 2018 4:20 pm
duckcalldan wrote:
Sun Jan 28, 2018 12:35 pm
Earl Lemongrab wrote:
Sat Jan 27, 2018 2:31 pm

Well, the Fidelity link contained there is:

https://rewards.fidelity.com/offers/fri ... milyoffer2

That doesn't mention a bonus, so I suspect that it is indeed incorrect. I approached Fidelity about matching other offers a while back, and they declined.
I am transferring a $1M portfolio from VG to my existing Fido account. I asked my private client rep for a bonus; after checking with his manager he approved a $2500 bonus, even though it had been about 9 months since the last bonus I received. So YMMV.
I assume that was a single account. We have 2 IRA's to transfer and, according to the rep, they can't be lumped together because one belongs to my wife and one belongs to me.
Unless the rules have changed, that’s not what I experienced. Last year I rolled over a 401k and transferred our two Roths over all to Fido. We got the full bonus, divided asset-wise between the three accounts. Try again. The right rep should be looking out for you and your business.
Update: The Fido rep finally called me back, but only because I emailed him the link that showed bonuses for various amounts. He confirmed that the link was outdated (from last year), even though it referenced 2018. He also said that "upper management" had reaffirmed no bonus would be forthcoming unless 1 million was in a single IRA, not a combination of two. I thanked him. I will be transferring the remainder of left over funds (18k) from Fidelity to Vanguard.
Huh, my parents just transferred $1mm from EJ to Fido, spread across three accounts and two account holders. I had to specifically request it, but the local Fido rep "talked to her manager" and approved a $2,500 transfer bonus. We completed this just last month, March 2018.

~Big Dutch

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by drk » Fri Apr 06, 2018 9:48 pm

JustinR wrote:
Fri Apr 06, 2018 2:56 am
1) Has anyone moved their funds back to Vanguard? Has Vanguard ever offered to pay transfer fees?
Vanguard does not pay transfer fees.

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

Post by motorcyclesarecool » Tue Apr 10, 2018 9:15 pm

Do you bonus churners use e-signed documents for your transfers, sign and mail, or sign and fax?
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

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

Post by whodidntante » Tue Apr 10, 2018 11:11 pm

motorcyclesarecool wrote:
Tue Apr 10, 2018 9:15 pm
Do you bonus churners use e-signed documents for your transfers, sign and mail, or sign and fax?
Some companies have forms online that you can fill out in 5 minutes. Maybe even most companies, but my whodidntante broker transfer survey is shoddy. I use the path of least resistance.

I can't recall needing to fax or mail something in modern times unless I'm dealing with really old people. They'll usually let you submit an image of paper forms online, even if they require a signature guarantee. Also sometimes I ignore that they "require" a signature guarantee and submit it anyway. I just did that with [broker redacted] and it went through with no problem.
Last edited by whodidntante on Tue Apr 10, 2018 11:13 pm, edited 1 time in total.

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

Post by Earl Lemongrab » Tue Apr 10, 2018 11:12 pm

motorcyclesarecool wrote:
Tue Apr 10, 2018 9:15 pm
Do you bonus churners use e-signed documents for your transfers, sign and mail, or sign and fax?
Depends on the brokerage. More and more allow setting up transfers completely online. I haven't had to fax anything in quite a while.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by privatefarmer » Wed Apr 11, 2018 2:54 am

does anyone know of any brokerage firms that will accept a transfer of DFA funds? I have DFA funds, no longer have an advisor, and would like to get me some transfer bonuses... but every time I've tried to transfer out from fidelity I have not been able to transfer the DFA funds...

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

Post by Earl Lemongrab » Fri Apr 13, 2018 12:06 am

I saw on another thread that there's a Merrill Edge "1000" offer, but it runs out 4/13:

https://www.merrilledge.com/offers/1000offer#

It's another "Expo attendee" one, so usual caveats there.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

kpd905
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by kpd905 » Sat Apr 14, 2018 1:37 pm

Does anyone here have experience with the Expo offers? Do they ask you to submit proof of your attendance?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Sat Apr 14, 2018 3:39 pm

kpd905 wrote:
Sat Apr 14, 2018 1:37 pm
Does anyone here have experience with the Expo offers? Do they ask you to submit proof of your attendance?
My DW and I were each able to use an Expo offer in Dec17 without any proof of attendance.

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

Post by Earl Lemongrab » Sat Apr 14, 2018 4:17 pm

I've never had any problem. I always open a new account using the link in the offer. The account will show the promotion applied. I don't know what would happen if you tried to contact them to get a code applied.
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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Mon Apr 16, 2018 2:41 pm

TD Ameritrade just upped the ante.

https://www.tdameritrade.com/landing-pa ... TDACDDRTVV

$100 for 25k
$400 for 100k
$800 for 250k

I see there is another offer posted above that might be better.

I have 100k that is ready to move.

I closed (through ACATS full transfer) my TDA account a few days ago. Does anyone know if their bonuses are churnable and what the restrictions are? I think I am eligible but just want to confirm.

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

Post by Earl Lemongrab » Mon Apr 16, 2018 2:47 pm

I thought TDA had an offer for $1000/250k.

Yep, here it is: https://www.tdameritrade.com/offer/tdba ... index.html
$1,500 $500,000 or more
$1,000 $250,000–$499,999
$500 $100,000–$249,999
$200 $50,000–$99,999
$50 $10,000–$49,999
Plus, get a $150 transfer fee rebate with a minimum transfer of $10,000.*
Available through 9/30/2018.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by whodidntante » Mon Apr 16, 2018 4:43 pm

Earl Lemongrab wrote:
Mon Apr 16, 2018 2:47 pm
I thought TDA had an offer for $1000/250k.

Yep, here it is: https://www.tdameritrade.com/offer/tdba ... index.html
$1,500 $500,000 or more
$1,000 $250,000–$499,999
$500 $100,000–$249,999
$200 $50,000–$99,999
$50 $10,000–$49,999
Plus, get a $150 transfer fee rebate with a minimum transfer of $10,000.*
Available through 9/30/2018.
Thanks. I also saw this offer after I posted.

https://www.tdameritrade.com/offer/for90days/index.html

I have initiated the transfer inbound from a broker I did not transfer out to when I closed the old account, so I will be the data point I want to see. My guess is it will be OK.

ETA: it was OK. My $500 bonus and free trades posted today.
Last edited by whodidntante on Thu Apr 19, 2018 7:23 pm, edited 1 time in total.

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

Post by SlowMovingInvestor » Thu Apr 19, 2018 8:16 am

I got an emailed offer from Ally Investing. I am an Ally Bank customer, so those who are customers may find the offer in the email
Free trades and

$100K --> $300
$250K -> $600
$500K -> $1200
$1M -> $2500

90 day holding period

Might be worth getting a quick bonus, although Ally Investing is new enough that I'd be worried about cost basis mess-ups. I would only transfer an IRA or the like there.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BashDash » Thu Apr 19, 2018 11:34 am

If one was to transfer over 100k to the ally brokerage from the ally savings I would imagine it to be a smooth process. However, for an emergency fund where could one park the money to keep a comparable rate that it was getting in the ally savings?

Maybe not worth the hassle for 300$?

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

Post by SlowMovingInvestor » Thu Apr 19, 2018 11:41 am

BashDash wrote:
Thu Apr 19, 2018 11:34 am
If one was to transfer over 100k to the ally brokerage from the ally savings I would imagine it to be a smooth process. However, for an emergency fund where could one park the money to keep a comparable rate that it was getting in the ally savings?

Maybe not worth the hassle for 300$?
It has to be funds outside of Ally, so you would have to round-trip it.

But I doubt that Ally Investing would give you the same rate as Ally Savings. I have no idea what Money Market Mutual Funds they offer.

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

Post by Earl Lemongrab » Thu Apr 19, 2018 12:03 pm

BashDash wrote:
Thu Apr 19, 2018 11:34 am
If one was to transfer over 100k to the ally brokerage from the ally savings I would imagine it to be a smooth process. However, for an emergency fund where could one park the money to keep a comparable rate that it was getting in the ally savings?

Maybe not worth the hassle for 300$?
Likely you would not get a bonus for transferring from Ally savings. The Ally $200 offer had this in the terms (emphasis mine):
Funding - Accounts must be opened by 04/30/2018 and funded within 15 days of account opening. The qualifying deposit to open the new account must be from outside Ally Invest. The new account must be funded with a minimum qualifying deposit of $25,000 to receive the $200 Cash Bonus or $10,000 to receive the Commission-Free Trades for up to 90 days Bonus. The minimum qualifying funds to receive either bonus offer must remain in the account (minus any trading losses) for a minimum of 90 days from the date of funding.

I suspect that this offer is the same. It's standard. They don't want to give bonuses for you shuffling between their accounts.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by 1andDone » Thu Apr 19, 2018 6:52 pm

Re: the Ally offer, make note of this stipulation in the fine print: "Once the account is credited, the bonus is not available for withdrawal for 300 days after the requirements have been met."

This seems a bit onerous, IMO. I won't be biting on this offer.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Thu Apr 19, 2018 7:21 pm

BashDash wrote:
Thu Apr 19, 2018 11:34 am
If one was to transfer over 100k to the ally brokerage from the ally savings I would imagine it to be a smooth process. However, for an emergency fund where could one park the money to keep a comparable rate that it was getting in the ally savings?

Maybe not worth the hassle for 300$?
1.45%? You can throw a rock and beat that. Buy T-bills. A 13 week bill is paying over 1.8% right now, and it's not subject to state income tax.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sesq » Sun Apr 22, 2018 8:01 am

Earl Lemongrab wrote:
Fri Apr 13, 2018 12:06 am
I saw on another thread that there's a Merrill Edge "1000" offer, but it runs out 4/13:

https://www.merrilledge.com/offers/1000offer#

It's another "Expo attendee" one, so usual caveats there.
I was on the phone with ME the other day and she told me that there a $1K incentive would be approved if I rolled over my old 401(k) with about $380K in it. Not sure I want to do it since I do the backdoor roth.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JustinR » Sun Apr 22, 2018 9:42 pm

pre wrote:
Sun Mar 18, 2018 3:44 pm
Good work! Have done this matching of a competitor a handful of times with Schwab, as well.

Two downsides, from personal experience -- 1) Schwab matches have all been for the same asset tier/bonus amount, but requires a one year holding period, even when the competitor's offer sheet is often only 45 days or 6 months, etc. and 2) my local Schwab reps are not very accommodating/proactive, so I need to be the one pushing to get marketing involved and checking on the progress.

Have also tried to do multiple accounts/types of accounts and my local rep told me any one account bonus per year :/ Merrill, TDA, Etrade, etc. will all allow multiple bonuses
Merrill, TDA, and Etrade let you do bonuses simultaneously? So you can open several accounts for these brokerages and get bonuses? That contradicts other posts I've read in this thread.
Last edited by JustinR on Sun Apr 22, 2018 10:09 pm, edited 1 time in total.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JustinR » Sun Apr 22, 2018 9:43 pm

https://www.schwab.com/public/schwab/nn ... d_sps.html

Offer valid for Charles Schwab & Co., Inc. ("Schwab") Stock Plan Services clients who make a qualifying net deposit into an eligible retail brokerage account within 45 days of enrollment in the offer.
Can someone explain to me what "Schwab Stock Plan Services" are? Is it just a regular brokerage account, which I can open a new one of? Or am I not eligible?

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

Post by whodidntante » Sun Apr 22, 2018 10:29 pm

JustinR wrote:
Sun Apr 22, 2018 9:43 pm
https://www.schwab.com/public/schwab/nn ... d_sps.html

Offer valid for Charles Schwab & Co., Inc. ("Schwab") Stock Plan Services clients who make a qualifying net deposit into an eligible retail brokerage account within 45 days of enrollment in the offer.
Can someone explain to me what "Schwab Stock Plan Services" are? Is it just a regular brokerage account, which I can open a new one of? Or am I not eligible?
It's a targeted offer, and you weren't targeted, so you run the risk of not getting bonus. I decided not to try that one. I called and tried to get them to offer me a similar deal. Schwab refused.

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

Post by JustinR » Sun Apr 22, 2018 10:48 pm

whodidntante wrote:
Sun Apr 22, 2018 10:29 pm
JustinR wrote:
Sun Apr 22, 2018 9:43 pm
https://www.schwab.com/public/schwab/nn ... d_sps.html

Offer valid for Charles Schwab & Co., Inc. ("Schwab") Stock Plan Services clients who make a qualifying net deposit into an eligible retail brokerage account within 45 days of enrollment in the offer.
Can someone explain to me what "Schwab Stock Plan Services" are? Is it just a regular brokerage account, which I can open a new one of? Or am I not eligible?
It's a targeted offer, and you weren't targeted, so you run the risk of not getting bonus. I decided not to try that one. I called and tried to get them to offer me a similar deal. Schwab refused.
Thanks!

Then it seems like Schwab doesn't have any ongoing offers at the moment, except for this $100 for $1k one? https://www.schwab.com/public/schwab/nn ... spect.html

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

Post by Earl Lemongrab » Sun Apr 22, 2018 11:38 pm

JustinR wrote:
Sun Apr 22, 2018 9:43 pm
https://www.schwab.com/public/schwab/nn ... d_sps.html

Offer valid for Charles Schwab & Co., Inc. ("Schwab") Stock Plan Services clients who make a qualifying net deposit into an eligible retail brokerage account within 45 days of enrollment in the offer.
Can someone explain to me what "Schwab Stock Plan Services" are? Is it just a regular brokerage account, which I can open a new one of? Or am I not eligible?
My information was that it's plans set up by companies for employees and not for the general public. I posted about it elsewhere. That being said, I never tried it.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by motorcyclesarecool » Mon Apr 23, 2018 8:58 pm

Initiated a transfer of a large portion of assets from a mutual fund only account at Fidelity to TDA. Fidelity just sold the (mutual fund) shares and stuck me with a $10 outgoing wire fee. Account is still open, and they could have simply sent a check. Do I have any recourse?
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

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

Post by TimeRunner » Mon Apr 23, 2018 9:36 pm

motorcyclesarecool wrote:
Mon Apr 23, 2018 8:58 pm
Initiated a transfer of a large portion of assets from a mutual fund only account at Fidelity to TDA. Fidelity just sold the (mutual fund) shares and stuck me with a $10 outgoing wire fee. Account is still open, and they could have simply sent a check. Do I have any recourse?
The $10 is likely less than what you would lose while the check is in transit and clearing, right?
"...There're just so many summers, and just so many springs." -Don Henley "What'd ya expect in an opera, a happy ending?" -Bugs Bunny

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

Post by Earl Lemongrab » Mon Apr 23, 2018 11:24 pm

Ask the receiver to cover the fee. Why didn't you transfer in-kind?
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by motorcyclesarecool » Tue Apr 24, 2018 12:40 am

Mutual Fund only account, and balance was in Money Market. I didn’t think transfer in kind was an option.
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

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

Post by student » Tue Apr 24, 2018 5:52 am

motorcyclesarecool wrote:
Tue Apr 24, 2018 12:40 am
Mutual Fund only account, and balance was in Money Market. I didn’t think transfer in kind was an option.
If it is MM, wouldn't it be easier to empty the account by ACHing it to yourself and then ACHing it to TDA? If you have a TDA office in town, you could have written a check against your MM account and brought it to TDA.

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

Post by motorcyclesarecool » Tue Apr 24, 2018 6:18 am

Roth IRA, so doing trustee-trustee transfer. Nowhere did I request a wire.
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

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

Post by student » Tue Apr 24, 2018 6:38 am

motorcyclesarecool wrote:
Tue Apr 24, 2018 6:18 am
Roth IRA, so doing trustee-trustee transfer. Nowhere did I request a wire.
I see. Did you use this form? https://www.tdameritrade.com/retail-en_ ... TDA190.pdf
It asks about the method of transfer on part 2. It has wire or check. Under wire, it says fees may apply.

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

Post by SlowMovingInvestor » Tue Apr 24, 2018 7:56 am

I've done lots of partial outgoing transfers via ACATs from Fido to multiple brokerage. No fee ever.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by LadyGeek » Tue Apr 24, 2018 3:21 pm

^^^ The wiki has some background info: Transferring funds (Securities transfer (ACATS))
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motorcyclesarecool
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by motorcyclesarecool » Tue Apr 24, 2018 5:56 pm

Well, even though I didn’t request a wire, the funds arrived with TDA quickly, and my $500 bonus was credited immediately as three separate rebates. It’s nearly all been invested and set on DRIP. I have a calendar reminder to revisit this account in a year. Thank you for this handy thread. Next move will be opening his & hers Schwab taxable accounts with $1000 each for a $100 bonus apiece.
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

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

Post by whodidntante » Tue Apr 24, 2018 6:18 pm

motorcyclesarecool wrote:
Tue Apr 24, 2018 5:56 pm
Well, even though I didn’t request a wire, the funds arrived with TDA quickly, and my $500 bonus was credited immediately as three separate rebates. It’s nearly all been invested and set on DRIP. I have a calendar reminder to revisit this account in a year. Thank you for this handy thread. Next move will be opening his & hers Schwab taxable accounts with $1000 each for a $100 bonus apiece.
I don't like DRIP because:
I like to rebalance with cash flow (I buy whatever I am short of)
I treat my dividends as positive cash flow and sometimes spend them on hamburgers
Some brokers charge a fee to liquidate partial shares (10% or whatever)
It seems wrong, abstract, and could possibly invoke foul language if I ever do anything manually

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

Post by motorcyclesarecool » Wed Apr 25, 2018 6:04 am

New question re: Merrill Edge / Bank of America...

My state has no B of A branches, although a neighboring state has some fairly easily accessible about a stone’s throw from the state line. I don’t see where BofA has any sort of internet-only account.

All that to say, I'm not sure I could derive any value from BofA super duper platinum thingy status by rolling assets to Merrill Edge. Is that fancy thingy cash back credit card only open to those with bank accounts at the Evil Empire Bank of America?
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

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

Post by student » Wed Apr 25, 2018 6:16 am

motorcyclesarecool wrote:
Wed Apr 25, 2018 6:04 am
New question re: Merrill Edge / Bank of America...

My state has no B of A branches, although a neighboring state has some fairly easily accessible about a stone’s throw from the state line. I don’t see where BofA has any sort of internet-only account.

All that to say, I'm not sure I could derive any value from BofA super duper platinum thingy status by rolling assets to Merrill Edge. Is that fancy thingy cash back credit card only open to those with bank accounts at the Evil Empire Bank of America?
BoA does have interesting bearing accounts in my state but the rate is so low that it may as well be 0. Just open one with $500 deposit. There are a number of benefits. The main one being the credit card that you have mentioned. It also give you a free small safe deposit box, free incoming domestic wire transfer, etc. https://www.bankofamerica.com/preferred ... s/details/

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