The Final, Definitive Thread on Brokerage Transfer Bonuses

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
pre
Posts: 92
Joined: Mon Apr 04, 2011 2:14 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Thu Jun 27, 2019 10:12 pm

JustinR wrote:
Thu Jun 27, 2019 3:40 am
The fine print on the ETrade offer says "One promotion per customer."

Has anyone experienced this being enforced?
Mind sharing the link to the application page for this offer?

User avatar
Topic Author
Earl Lemongrab
Posts: 7270
Joined: Tue Jun 10, 2014 1:14 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Fri Jun 28, 2019 1:20 pm

JustinR wrote:
Thu Jun 27, 2019 9:37 pm
I literally did this exact bonus a few months ago though. Do you think that's different?
Are you sure it's the same bonus? Same offer code and all?

JustinR
Posts: 1122
Joined: Tue Apr 27, 2010 11:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JustinR » Fri Jun 28, 2019 9:57 pm

pre wrote:
Thu Jun 27, 2019 10:12 pm
JustinR wrote:
Thu Jun 27, 2019 3:40 am
The fine print on the ETrade offer says "One promotion per customer."

Has anyone experienced this being enforced?
Mind sharing the link to the application page for this offer?
There's no application page. Just call your local Etrade branch and tell them you want to open an account for X bonus (whichever bonus you want from that page). The rep will know what it is and will email you that link for the terms. Your rep will tell you to open an account, then tell them the account number and they'll apply the promo.

JustinR
Posts: 1122
Joined: Tue Apr 27, 2010 11:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JustinR » Fri Jun 28, 2019 10:00 pm

Earl Lemongrab wrote:
Fri Jun 28, 2019 1:20 pm
JustinR wrote:
Thu Jun 27, 2019 9:37 pm
I literally did this exact bonus a few months ago though. Do you think that's different?
Are you sure it's the same bonus? Same offer code and all?
There's no offer code on the terms. The actual promo code the representative enters for you may or may not be the same. I did it last year, and I think they extended the expiration date. It's the same url.

https://us.etrade.com/promo/disclaimer/dc-tf60d-2500cfc

I think that's the higher standard offer they have (than the public facing one).

ShadowRegent
Posts: 93
Joined: Sun Jan 04, 2015 12:52 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ShadowRegent » Tue Jul 02, 2019 5:32 pm

capjak wrote:
Thu Apr 04, 2019 1:26 pm
Has anyone gotten any "custom" offers from Merrill Edge and what were they?

I know they will do custom offers if you transfer higher $$$ but have to keep the money in the account longer to get it.
I just got offered $1500 for $500k with a 9 month holding period as an existing customer for a taxable brokerage account. Only downside is that they indicated I couldn't move my Rollover IRA away during this period which breaks my backdoor Roth plans a bit, but I guess I'll just wait until 2020 to covert 2019's non-deductible contributions.

TravelforFun
Posts: 1938
Joined: Tue Dec 04, 2012 11:05 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by TravelforFun » Wed Jul 03, 2019 8:29 am

ShadowRegent wrote:
Tue Jul 02, 2019 5:32 pm
capjak wrote:
Thu Apr 04, 2019 1:26 pm
Has anyone gotten any "custom" offers from Merrill Edge and what were they?

I know they will do custom offers if you transfer higher $$$ but have to keep the money in the account longer to get it.
I just got offered $1500 for $500k with a 9 month holding period as an existing customer for a taxable brokerage account. Only downside is that they indicated I couldn't move my Rollover IRA away during this period which breaks my backdoor Roth plans a bit, but I guess I'll just wait until 2020 to covert 2019's non-deductible contributions.
What so special about Merrill Edge? I transferred $1 million from Schwab to Etrade and got $3,000 within days. Etrade got tons of good mutual funds and their stock trade fee is low.

TravelforFun

ShadowRegent
Posts: 93
Joined: Sun Jan 04, 2015 12:52 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ShadowRegent » Wed Jul 03, 2019 10:34 am

TravelforFun wrote:
Wed Jul 03, 2019 8:29 am
ShadowRegent wrote:
Tue Jul 02, 2019 5:32 pm
capjak wrote:
Thu Apr 04, 2019 1:26 pm
Has anyone gotten any "custom" offers from Merrill Edge and what were they?

I know they will do custom offers if you transfer higher $$$ but have to keep the money in the account longer to get it.
I just got offered $1500 for $500k with a 9 month holding period as an existing customer for a taxable brokerage account. Only downside is that they indicated I couldn't move my Rollover IRA away during this period which breaks my backdoor Roth plans a bit, but I guess I'll just wait until 2020 to covert 2019's non-deductible contributions.
What so special about Merrill Edge? I transferred $1 million from Schwab to Etrade and got $3,000 within days. Etrade got tons of good mutual funds and their stock trade fee is low.

TravelforFun
The brokerage itself is fine (nothing special, but no real issues either). You get 100 free trades per month, 5.5% cashback in a chosen category on the Cash Rewards card (I have 3 of them, so I get 5.5% back in 3 categories), and 2.625% cashback on everything with the Premium Rewards card when you have Preferred Rewards Platinum Honors. It's a pretty decent package overall, but you only need $100k to get the rest of those benefits. My plan is to park $100k there long term and start moving the rest around to collect bonuses.

tj
Posts: 2684
Joined: Thu Dec 24, 2009 12:10 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj » Wed Jul 03, 2019 1:41 pm

5.5% cashback in a chosen category on the Cash Rewards card (I have 3 of them, so I get 5.5% back in 3 categories)
Oohhh. That's clever. How did you get so many?

ShadowRegent
Posts: 93
Joined: Sun Jan 04, 2015 12:52 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ShadowRegent » Wed Jul 03, 2019 1:55 pm

tj wrote:
Wed Jul 03, 2019 1:41 pm
5.5% cashback in a chosen category on the Cash Rewards card (I have 3 of them, so I get 5.5% back in 3 categories)
Oohhh. That's clever. How did you get so many?
I had a Travel Rewards and Cash Rewards card when I got the Premium Rewards card, so I product changed the travel one over to a second cash rewards since it was no longer useful with the Premium Rewards card. My wife also has the Cash Rewards card, so that makes 3. You can also change the category once per month which is useful. I did the math wrong, though, and it's 5.25% with Platinum Honors. Still pretty good!

investor997
Posts: 477
Joined: Tue Feb 07, 2017 3:23 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by investor997 » Mon Jul 08, 2019 1:09 am

Looks like Merrill's got the elevated transfer bonus levels again:

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

I'm thinking of moving my Roth IRA from Fidelity to Merrill to get the higher bonus. Question: Where is the bonus deposited? Directly in the Roth IRA? Is it treated as a contribution?

neilpilot
Posts: 2843
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Mon Jul 08, 2019 8:26 am

investor997 wrote:
Mon Jul 08, 2019 1:09 am
Looks like Merrill's got the elevated transfer bonus levels again:

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

I'm thinking of moving my Roth IRA from Fidelity to Merrill to get the higher bonus. Question: Where is the bonus deposited? Directly in the Roth IRA? Is it treated as a contribution?
Did this at TDA and the bonus was deposited into the Roth, treated as interest. Tax free.

User avatar
Ketawa
Posts: 2192
Joined: Mon Aug 22, 2011 1:11 am
Location: DC

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Ketawa » Mon Jul 08, 2019 11:35 am

I think I have asked this before and had it answered, but are there any issues holding AQR funds at Merrill Edge? I have QEELX, QICLX, QSMLX, and QSPIX. I also have their N shares equivalents for free rebalancing: QEENX, QICNX, QSMNX, and QSPNX.

Edit - I called Merrill Edge and they said only QSPIX/QSPNX could be held with them. Unless anyone can confirm otherwise, moving there will probably be a nonstarter for me.
Last edited by Ketawa on Mon Jul 08, 2019 11:58 am, edited 1 time in total.

User avatar
indexfundfan
Posts: 2797
Joined: Tue Feb 20, 2007 11:21 am
Contact:

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Mon Jul 08, 2019 11:56 am

investor997 wrote:
Mon Jul 08, 2019 1:09 am
Looks like Merrill's got the elevated transfer bonus levels again:

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

I'm thinking of moving my Roth IRA from Fidelity to Merrill to get the higher bonus. Question: Where is the bonus deposited? Directly in the Roth IRA? Is it treated as a contribution?
Transferred Roth to Merrill Edge a few years ago. Bonus is directly credited into the account and is NOT considered as a contribution.
My signature has been deleted.

investor997
Posts: 477
Joined: Tue Feb 07, 2017 3:23 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by investor997 » Mon Jul 08, 2019 1:16 pm

One other question on transferring a Roth to Merrill...

Should I be worried about the timing of this with respect to ex-Dividend dates of the underlying investments?

My current Roth is at Fidelity and is made up of Fidelity mutual funds (FSKAX, FTIHX, FSNAX). FSNAX just paid a dividend. The other two aren't due for dividends until December. Since these are Fidelity funds I'm thinking it'd be best to liquidate them and buy equivalent ETFs to make them more portable between brokerages. Do I need to worry about the dividend payout dates of the ETFs I buy to replace these funds? In other words, I don't want to do this work for a $500 transfer bonus only to find out I miss a dividend payout by swapping investments.

User avatar
whodidntante
Posts: 6678
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Mon Jul 08, 2019 1:20 pm

investor997 wrote:
Mon Jul 08, 2019 1:16 pm
One other question on transferring a Roth to Merrill...

Should I be worried about the timing of this with respect to ex-Dividend dates of the underlying investments?

My current Roth is at Fidelity and is made up of Fidelity mutual funds (FSKAX, FTIHX, FSNAX). FSNAX just paid a dividend. The other two aren't due for dividends until December. Since these are Fidelity funds I'm thinking it'd be best to liquidate them and buy equivalent ETFs to make them more portable between brokerages. Do I need to worry about the dividend payout dates of the ETFs I buy to replace these funds? In other words, I don't want to do this work for a $500 transfer bonus only to find out I miss a dividend payout by swapping investments.
You'll get the dividend payment regardless of the date of transfer and ex dividend dates. The only question is which broker gets it. If it's the source broker and not the destination broker, they will do a second transfer once they receive the dividends in my experience.

tj
Posts: 2684
Joined: Thu Dec 24, 2009 12:10 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj » Mon Jul 08, 2019 4:46 pm

investor997 wrote:
Mon Jul 08, 2019 1:09 am
Looks like Merrill's got the elevated transfer bonus levels again:

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

I'm thinking of moving my Roth IRA from Fidelity to Merrill to get the higher bonus. Question: Where is the bonus deposited? Directly in the Roth IRA? Is it treated as a contribution?
Looks like the Traders Expo has free admission.

https://www.moneyshow.com/registration/ ... ration.asp

Is the e-mail confirmation enough proof? :mrgreen:

neilpilot
Posts: 2843
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Mon Jul 08, 2019 8:07 pm

tj wrote:
Mon Jul 08, 2019 4:46 pm
investor997 wrote:
Mon Jul 08, 2019 1:09 am
Looks like Merrill's got the elevated transfer bonus levels again:

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

I'm thinking of moving my Roth IRA from Fidelity to Merrill to get the higher bonus. Question: Where is the bonus deposited? Directly in the Roth IRA? Is it treated as a contribution?
Looks like the Traders Expo has free admission.

https://www.moneyshow.com/registration/ ... ration.asp

Is the e-mail confirmation enough proof? :mrgreen:
Of course your experience may differ, but when ME granted us a couple of elevated bonuses 18 months ago, they never asked for any evidence of registration or attendance.

cashmoney
Posts: 316
Joined: Thu Jun 29, 2017 11:15 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by cashmoney » Wed Jul 10, 2019 10:49 am

neilpilot wrote:
Mon Jul 08, 2019 8:07 pm
tj wrote:
Mon Jul 08, 2019 4:46 pm
investor997 wrote:
Mon Jul 08, 2019 1:09 am
Looks like Merrill's got the elevated transfer bonus levels again:

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

I'm thinking of moving my Roth IRA from Fidelity to Merrill to get the higher bonus. Question: Where is the bonus deposited? Directly in the Roth IRA? Is it treated as a contribution?
Looks like the Traders Expo has free admission.

https://www.moneyshow.com/registration/ ... ration.asp

Is the e-mail confirmation enough proof? :mrgreen:
Of course your experience may differ, but when ME granted us a couple of elevated bonuses 18 months ago, they never asked for any evidence of registration or attendance.


Finally pulled the trigger to transfer a 3 fund ira from TD Ameritade and was able to use the expo code for the 1000.00 bonus .Yesterday I got a call from the local TD Ameritrade rep offering me 1000.00 to stay with free trades and access to their better sweep account for cash! However I might be better off switching now then switching back to ameritrade in 6 months for their 600.00 bonus .

neilpilot
Posts: 2843
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Wed Jul 10, 2019 10:58 am

cashmoney wrote:
Wed Jul 10, 2019 10:49 am
neilpilot wrote:
Mon Jul 08, 2019 8:07 pm
tj wrote:
Mon Jul 08, 2019 4:46 pm
investor997 wrote:
Mon Jul 08, 2019 1:09 am
Looks like Merrill's got the elevated transfer bonus levels again:

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

I'm thinking of moving my Roth IRA from Fidelity to Merrill to get the higher bonus. Question: Where is the bonus deposited? Directly in the Roth IRA? Is it treated as a contribution?
Looks like the Traders Expo has free admission.

https://www.moneyshow.com/registration/ ... ration.asp

Is the e-mail confirmation enough proof? :mrgreen:
Of course your experience may differ, but when ME granted us a couple of elevated bonuses 18 months ago, they never asked for any evidence of registration or attendance.


Finally pulled the trigger to transfer a 3 fund ira from TD Ameritade and was able to use the expo code for the 1000.00 bonus .Yesterday I got a call from the local TD Ameritrade rep offering me 1000.00 to stay with free trades and access to their better sweep account for cash! However I might be better off switching now then switching back to ameritrade in 6 months for their 600.00 bonus .
We moved only a portion of 2 TDA accounts to ME early last year, with a plan to move all remaining assets from TDA after a 6 month evaluation of ME. However we were extremely unhappy with ME’s customer service, as I posted much earlier in this thread.

So after collecting ME’s bonus 6 months after the accounts were opened, the assets were returned to our existing TDA accounts and we each collected $600 from TDA.

cashmoney
Posts: 316
Joined: Thu Jun 29, 2017 11:15 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by cashmoney » Wed Jul 10, 2019 11:23 am

neilpilot wrote:
Wed Jul 10, 2019 10:58 am
cashmoney wrote:
Wed Jul 10, 2019 10:49 am
neilpilot wrote:
Mon Jul 08, 2019 8:07 pm
tj wrote:
Mon Jul 08, 2019 4:46 pm
investor997 wrote:
Mon Jul 08, 2019 1:09 am
Looks like Merrill's got the elevated transfer bonus levels again:

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

I'm thinking of moving my Roth IRA from Fidelity to Merrill to get the higher bonus. Question: Where is the bonus deposited? Directly in the Roth IRA? Is it treated as a contribution?
Looks like the Traders Expo has free admission.

https://www.moneyshow.com/registration/ ... ration.asp

Is the e-mail confirmation enough proof? :mrgreen:
Of course your experience may differ, but when ME granted us a couple of elevated bonuses 18 months ago, they never asked for any evidence of registration or attendance.


Finally pulled the trigger to transfer a 3 fund ira from TD Ameritade and was able to use the expo code for the 1000.00 bonus .Yesterday I got a call from the local TD Ameritrade rep offering me 1000.00 to stay with free trades and access to their better sweep account for cash! However I might be better off switching now then switching back to ameritrade in 6 months for their 600.00 bonus .
We moved only a portion of 2 TDA accounts to ME early last year, with a plan to move all remaining assets from TDA after a 6 month evaluation of ME. However we were extremely unhappy with ME’s customer service, as I posted much earlier in this thread.

So after collecting ME’s bonus 6 months after the accounts were opened, the assets were returned to our existing TDA accounts and we each collected $600 from TDA.


Good to know.I was only only going to use merrill for 6 month anyway then transfer to Fidelity but I will probably just go back to Ameritrade if they are going to pay me now that they are giving be better sweep options in all my accounts there.

pre
Posts: 92
Joined: Mon Apr 04, 2011 2:14 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Wed Jul 10, 2019 11:59 am

neilpilot wrote:
Wed Jul 10, 2019 10:58 am
So after collecting ME’s bonus 6 months after the accounts were opened, the assets were returned to our existing TDA accounts and we each collected $600 from TDA.
May I ask if you opened a new TDA account to qualify for the bonus? Existing accounts don't generally have bonuses -- perhaps a local rep intervened?

neilpilot
Posts: 2843
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Wed Jul 10, 2019 12:02 pm

pre wrote:
Wed Jul 10, 2019 11:59 am
neilpilot wrote:
Wed Jul 10, 2019 10:58 am
So after collecting ME’s bonus 6 months after the accounts were opened, the assets were returned to our existing TDA accounts and we each collected $600 from TDA.
May I ask if you opened a new TDA account to qualify for the bonus? Existing accounts don't generally have bonuses -- perhaps a local rep intervened?
Returned assets to original existing accounts, and local rep intervened. Bonus came in the form of gift cards, not the usual account deposits. Since I’ve been very happy with TDA and would have transferred those assets back anyway, the $600 was a real bonus.

Ron Ronnerson
Posts: 1353
Joined: Sat Oct 26, 2013 6:53 pm
Location: Bay Area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Ron Ronnerson » Wed Jul 10, 2019 2:30 pm

pre wrote:
Wed Jul 10, 2019 11:59 am
neilpilot wrote:
Wed Jul 10, 2019 10:58 am
So after collecting ME’s bonus 6 months after the accounts were opened, the assets were returned to our existing TDA accounts and we each collected $600 from TDA.
May I ask if you opened a new TDA account to qualify for the bonus? Existing accounts don't generally have bonuses -- perhaps a local rep intervened?
At least for IRA accounts, it doesn't need to be a new account at TDA. Here is a link: https://www.tdameritrade.com/client/ret ... index.html

We (my wife and I) each did partial Roth IRA transfers from TDA to Merrill Edge and E-Trade last year. The transfer to Merrill Edge was using the link to the San Francisco Money Show for the higher bonus amount. Merrill Edge did not verify attendance but the bonus took something like 6 months to post. The bonus for the transfer to E-Trade posted in 2 months. I'm closing out the E-Trade accounts and transferring the balance back to TDA this week for more bonuses.

We're keeping the Merrill Edge accounts because of their preferred rewards program for balances above $100k. They provide 100 free trades per month and some nice Bank of America credit cards as well. For example, a few months ago, we opened up a Bank of America Premium Rewards credit card in my wife's name that gave a $500 bonus for opening the account. It provides 2.625% back on everything (and a bit higher on travel and dining) as long as the balance is kept above $100k between a Bank of America checking account and a linked Merrill Edge account. There is a $95 annual fee for the credit card but it's worth it to us. I plan to open this same credit card in my name and collect another $500 bonus later this year but will likely close that account before the year is up since we don't need two of these credit cards on an ongoing basis. That's a bit long-winded. I'm just trying to say that these brokerage bonuses can sometimes work nicely in conjunction with credit card bonuses.

jbranx
Posts: 1544
Joined: Thu Feb 09, 2017 6:57 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jbranx » Tue Jul 16, 2019 9:31 pm

{I deleted an off-topic comment}

pre
Posts: 92
Joined: Mon Apr 04, 2011 2:14 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Tue Jul 16, 2019 10:02 pm

Any folks deal with representatives from the same firm competing for your business? Basically for commission, or so it seems.

We've been planning a refinance with Bank of America, taking advantage of their various "relationship" discounts -- for example, with many lenders, at Bank of America, Chase, and Wells Fargo, they provide mortgage interest discounts of 0.125% for each $250k transferred in as "new" money.

I've been assigned a relationship manager at Merrill Edge, who I've spoken with a handful of times the past three months while planning the refinance, such that I can take advantage of the brokerage bonus concurrently with the mortgage rate discount. I'm intending on transferring over a $500k IRA for a $1500 brokerage bonus, in addition to the 0.25% interest rate discount.

The Merrill Edge relationship manager is based in Rhode Island, part of their "Platinum elite" team catering to existing Merrill clients. He's been professional and cordial, providing input on the process (it's a 401k rollover, then ACATS IRA transfer).

I finally decided to lock on the loan, but my local Bank of America branches are all vertically integrated, with their local Merrill Edge rep's desk located 10 feet from my loan officer.

Basically my loan officer is trying to sell me on using the local Merrill rep to have face-time and ease of access. She let it slip that the Merrill rep only earns a commission if any transferred assets stay for longer than two months. Some mortgage customers apparently don't care about the transfer bonus and will just transfer in $1M for 30 days while the loan closes, and transfers it back to their financial advisors.

Anyway, both the local Merrill rep and the Rhode Island relationship manager assigned to me are offering the same $1500 transfer bonus, but I feel conflicted about which rep to use.

pre
Posts: 92
Joined: Mon Apr 04, 2011 2:14 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Fri Jul 19, 2019 7:47 pm

pre wrote:
Tue Jul 16, 2019 10:02 pm
I'm intending on transferring over a $500k IRA for a $1500 brokerage bonus
Just finished opening my IRA. Here are the standard Merrill bonus tiers

Image

My Experian was frozen, so it's going to take underwriting/back office a few days to approve, per my rep. Should have just lifted the freeze, as I was immediately approved last year

User avatar
SlowMovingInvestor
Posts: 1426
Joined: Sun Sep 11, 2016 11:27 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Fri Jul 19, 2019 8:03 pm

pre wrote:
Fri Jul 19, 2019 7:47 pm
pre wrote:
Tue Jul 16, 2019 10:02 pm
I'm intending on transferring over a $500k IRA for a $1500 brokerage bonus
Just finished opening my IRA. Here are the standard Merrill bonus tiers



My Experian was frozen, so it's going to take underwriting/back office a few days to approve, per my rep. Should have just lifted the freeze, as I was immediately approved last year
$1000 for 300K seems like the sweet spot. Can we get the bonus for non-IRA accounts ?

pre
Posts: 92
Joined: Mon Apr 04, 2011 2:14 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Fri Jul 19, 2019 9:46 pm

SlowMovingInvestor wrote:
Fri Jul 19, 2019 8:03 pm
$1000 for 300K seems like the sweet spot. Can we get the bonus for non-IRA accounts ?
Yea, the above tiers apply for cash accounts, too. The "CMA" in footnote stands for Cash Management Account

neilpilot
Posts: 2843
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Fri Jul 19, 2019 9:52 pm

pre wrote:
Fri Jul 19, 2019 9:46 pm
SlowMovingInvestor wrote:
Fri Jul 19, 2019 8:03 pm
$1000 for 300K seems like the sweet spot. Can we get the bonus for non-IRA accounts ?
Yea, the above tiers apply for cash accounts, too. The "CMA" in footnote stands for Cash Management Account
Last year we received 2 new account bonuses from ME, and they matched the table above. EXCEPT the waiting period was 6 months, not 9.

pre
Posts: 92
Joined: Mon Apr 04, 2011 2:14 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Sat Jul 20, 2019 11:58 pm

neilpilot wrote:
Fri Jul 19, 2019 9:52 pm
pre wrote:
Fri Jul 19, 2019 9:46 pm
SlowMovingInvestor wrote:
Fri Jul 19, 2019 8:03 pm
$1000 for 300K seems like the sweet spot. Can we get the bonus for non-IRA accounts ?
Yea, the above tiers apply for cash accounts, too. The "CMA" in footnote stands for Cash Management Account
Last year we received 2 new account bonuses from ME, and they matched the table above. EXCEPT the waiting period was 6 months, not 9.
May I ask if those were the Money Show $1k/$200k tier offers? Those seem to consistently be six months.

I'm looking forward to doing that offer again in a few months (the Chicago expo)

neilpilot
Posts: 2843
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Sun Jul 21, 2019 12:58 am

pre wrote:
Sat Jul 20, 2019 11:58 pm
neilpilot wrote:
Fri Jul 19, 2019 9:52 pm
pre wrote:
Fri Jul 19, 2019 9:46 pm
SlowMovingInvestor wrote:
Fri Jul 19, 2019 8:03 pm
$1000 for 300K seems like the sweet spot. Can we get the bonus for non-IRA accounts ?
Yea, the above tiers apply for cash accounts, too. The "CMA" in footnote stands for Cash Management Account
Last year we received 2 new account bonuses from ME, and they matched the table above. EXCEPT the waiting period was 6 months, not 9.
May I ask if those were the Money Show $1k/$200k tier offers? Those seem to consistently be six months.

I'm looking forward to doing that offer again in a few months (the Chicago expo)
Yes, they were. But that was our first and last time we plan to open ME accounts. Wasn’t a good experience.

klaus14
Posts: 285
Joined: Sun Nov 25, 2018 7:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by klaus14 » Sun Jul 21, 2019 4:12 pm

neilpilot wrote:
Sun Jul 21, 2019 12:58 am
pre wrote:
Sat Jul 20, 2019 11:58 pm
neilpilot wrote:
Fri Jul 19, 2019 9:52 pm
pre wrote:
Fri Jul 19, 2019 9:46 pm
SlowMovingInvestor wrote:
Fri Jul 19, 2019 8:03 pm
$1000 for 300K seems like the sweet spot. Can we get the bonus for non-IRA accounts ?
Yea, the above tiers apply for cash accounts, too. The "CMA" in footnote stands for Cash Management Account
Last year we received 2 new account bonuses from ME, and they matched the table above. EXCEPT the waiting period was 6 months, not 9.
May I ask if those were the Money Show $1k/$200k tier offers? Those seem to consistently be six months.

I'm looking forward to doing that offer again in a few months (the Chicago expo)
Yes, they were. But that was our first and last time we plan to open ME accounts. Wasn’t a good experience.
Why wasn't it?

neilpilot
Posts: 2843
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Sun Jul 21, 2019 4:37 pm

klaus14 wrote:
Sun Jul 21, 2019 4:12 pm
neilpilot wrote:
Sun Jul 21, 2019 12:58 am
pre wrote:
Sat Jul 20, 2019 11:58 pm
neilpilot wrote:
Fri Jul 19, 2019 9:52 pm
pre wrote:
Fri Jul 19, 2019 9:46 pm


Yea, the above tiers apply for cash accounts, too. The "CMA" in footnote stands for Cash Management Account
Last year we received 2 new account bonuses from ME, and they matched the table above. EXCEPT the waiting period was 6 months, not 9.
May I ask if those were the Money Show $1k/$200k tier offers? Those seem to consistently be six months.

I'm looking forward to doing that offer again in a few months (the Chicago expo)
Yes, they were. But that was our first and last time we plan to open ME accounts. Wasn’t a good experience.
Why wasn't it?
viewtopic.php?f=1&t=282831&p=4583817&hi ... k#p4583817

User avatar
SlowMovingInvestor
Posts: 1426
Joined: Sun Sep 11, 2016 11:27 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Mon Jul 22, 2019 5:11 pm

Anyone have any comments on getting a bonus from a xfer to Ally Investing ?

Specifically

1) Do they accept Vanguard Funds ?
2) Do they do transfer via ACATS, and do they xfer cost basis properly ?
3) How is their year end tax reporting ?

SJR
Posts: 138
Joined: Sun Aug 02, 2015 10:51 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SJR » Tue Aug 06, 2019 7:36 am

Mike14 wrote:
Sun Oct 14, 2018 5:59 pm
SJR wrote:
Sat Oct 13, 2018 10:22 pm
Yes, I was able to get a bonus for multiple accounts. I actually had 2 joint accounts, one individual account, and a Roth. Each one received $150 in transfer credits and a bonus based on the assets within that account. I was told that the limit is 2 accounts per type, so 2 joint, 2 individual, etc. Worked out pretty well all in all.
It's my understanding that joint vs individual counts as a different customer. But did you get the bonus twice for the same account type, e.g. twice for taxable that were both jointly held?
Yes.

placeholder
Posts: 4021
Joined: Tue Aug 06, 2013 12:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Sat Aug 10, 2019 1:28 pm

I signed up for two merrill edge bonuses early in the year with the trader expo link and scored $1000 each in a taxable and a Roth.

User avatar
Admiral Fun
Posts: 64
Joined: Mon Jun 04, 2012 8:04 pm

Best bonus after Merrill Edge?

Post by Admiral Fun » Thu Aug 15, 2019 9:15 am

I am taking advantage of the $1000 signup bonus for Merrill Edge.

I have $300k worth of additional Vanguard ETFs that I would be willing to park somewhere else for a similar bonus and smooth transfer.

In August 2019, what's the recommended move after Merrill Edge?

Edit: looking back through the thread, it seems like TD Ameritrade could be a good option. There's an offer of $1000 bonus for $250,000 transfer. Any gotchas I should look out for?

placeholder
Posts: 4021
Joined: Tue Aug 06, 2013 12:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Thu Aug 15, 2019 12:35 pm

TDA is fine just know that the holding period is one year and the selection of ETFs isn't as good as edge.

neilpilot
Posts: 2843
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Thu Aug 15, 2019 3:06 pm

placeholder wrote:
Thu Aug 15, 2019 12:35 pm
TDA is fine just know that the holding period is one year and the selection of ETFs isn't as good as edge.
Actually, isn't the selection of ETFs the same?

Note, I didn't say "commission free ETFs". Unless you are a frequent trader, you should be able to get enought free trades to cover most or all commissions.

My experience is TDA has far better customer service, and less burdensome policies, than ME.

User avatar
Admiral Fun
Posts: 64
Joined: Mon Jun 04, 2012 8:04 pm

TLHing after a brokerage transfer

Post by Admiral Fun » Thu Aug 15, 2019 4:37 pm

placeholder wrote:
Thu Aug 15, 2019 12:35 pm
TDA is fine just know that the holding period is one year and the selection of ETFs isn't as good as edge.
I'm assuming all the usual Vanguard ETF pairs for tax loss harvesting are available in Merrill Edge and TDA. Correct?

Also, when doing a partial transfer from VG to ME or TDA do you get to select the lots you want to move? If not, how does it work?

User avatar
SlowMovingInvestor
Posts: 1426
Joined: Sun Sep 11, 2016 11:27 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Thu Aug 15, 2019 7:33 pm

neilpilot wrote:
Thu Aug 15, 2019 3:06 pm
placeholder wrote:
Thu Aug 15, 2019 12:35 pm
TDA is fine just know that the holding period is one year and the selection of ETFs isn't as good as edge.
Actually, isn't the selection of ETFs the same?

Note, I didn't say "commission free ETFs". Unless you are a frequent trader, you should be able to get enought free trades to cover most or all commissions.

My experience is TDA has far better customer service, and less burdensome policies, than ME.
The free trades are typically only 90 days. What happens after that ? Do you keep asking some rep to give you free trades for any DCA or tax loss selling you want to do ?

TDA does have better customer service. And their site is generally better. OTOH, ME has advantages like being able to sign up for BoA preferred Rewards program.

I would personally pick Etrade right now, since it has good service, bonuses and an very good collection of commission free ETFs/MFs.

neilpilot
Posts: 2843
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Thu Aug 15, 2019 7:47 pm

SlowMovingInvestor wrote:
Thu Aug 15, 2019 7:33 pm
neilpilot wrote:
Thu Aug 15, 2019 3:06 pm
placeholder wrote:
Thu Aug 15, 2019 12:35 pm
TDA is fine just know that the holding period is one year and the selection of ETFs isn't as good as edge.
Actually, isn't the selection of ETFs the same?

Note, I didn't say "commission free ETFs". Unless you are a frequent trader, you should be able to get enought free trades to cover most or all commissions.

My experience is TDA has far better customer service, and less burdensome policies, than ME.
The free trades are typically only 90 days. What happens after that ? Do you keep asking some rep to give you free trades for any DCA or tax loss selling you want to do ?

TDA does have better customer service. And their site is generally better. OTOH, ME has advantages like being able to sign up for BoA preferred Rewards program.

I would personally pick Etrade right now, since it has good service, bonuses and an very good collection of commission free ETFs/MFs.
Actually, I don't even have free trades anymore. Sure I could ask, but there's a limit to how cheap I can be.

With only 15-20 trades a year scattered about my various accounts, I happily pay $100-150/yr for excellent service and access to a local office. ME was truly terrible to work with and could never set up my accounts properly, although they said "no problem" when I opened those account. I couldn't wait for the 6 month hold on the bonus to end so I could get away from them.

placeholder
Posts: 4021
Joined: Tue Aug 06, 2013 12:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Thu Aug 15, 2019 8:52 pm

Sorry for any confusion for me only free ETFs are considered but all in all I prefer edge anyway.

JustinR
Posts: 1122
Joined: Tue Apr 27, 2010 11:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JustinR » Fri Aug 16, 2019 2:47 am

Earl Lemongrab wrote:
Fri Jun 28, 2019 1:20 pm
Are you sure it's the same bonus? Same offer code and all?
Hey Earl,

How churnable is Merrill in your experience?

I finished a Merrill bonus and am now transferring the funds out to Etrade.

Can I come back to Merrill right away when ETrade is done in 6 months?

Or can you do them right after another? Or even simultaneously on multiple accounts?

GeraniumLover
Posts: 187
Joined: Mon Feb 22, 2016 3:39 pm

Re: TLHing after a brokerage transfer

Post by GeraniumLover » Fri Aug 16, 2019 5:35 am

Admiral Fun wrote:
Thu Aug 15, 2019 4:37 pm
Also, when doing a partial transfer from VG to ME or TDA do you get to select the lots you want to move? If not, how does it work?
I can't speak for VG to ME or TDA, but I was unable to move specific lots from Fidelity to Etrade. The workaround was to create another account at the original broker, transfer the desired lots to the new account, then transfer the entire new account to the target brokerage.

neilpilot
Posts: 2843
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Fri Aug 16, 2019 8:40 am

JustinR wrote:
Fri Aug 16, 2019 2:47 am
Earl Lemongrab wrote:
Fri Jun 28, 2019 1:20 pm
Are you sure it's the same bonus? Same offer code and all?
Hey Earl,

How churnable is Merrill in your experience?

I finished a Merrill bonus and am now transferring the funds out to Etrade.

Can I come back to Merrill right away when ETrade is done in 6 months?

Or can you do them right after another? Or even simultaneously on multiple accounts?
I think Earl is no longer here.....he left the room in July

GeraniumLover
Posts: 187
Joined: Mon Feb 22, 2016 3:39 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover » Fri Aug 16, 2019 5:01 pm

neilpilot wrote:
Fri Aug 16, 2019 8:40 am

I think Earl is no longer here.....he left the room in July
That's too bad. If he was exiled, I hope it was by the mods and not God.

User avatar
whodidntante
Posts: 6678
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Fri Aug 16, 2019 5:06 pm

JustinR wrote:
Fri Aug 16, 2019 2:47 am
Earl Lemongrab wrote:
Fri Jun 28, 2019 1:20 pm
Are you sure it's the same bonus? Same offer code and all?
Hey Earl,

How churnable is Merrill in your experience?

I finished a Merrill bonus and am now transferring the funds out to Etrade.

Can I come back to Merrill right away when ETrade is done in 6 months?

Or can you do them right after another? Or even simultaneously on multiple accounts?
Merrill requires one year between bonus payouts (confirmed by CSR) and there is a separate clock for IRAs and taxable accounts. Also, don't transfer exactly the same assets (same tickers same quantity) out and then back in. At least run a comb through its hair first.

User avatar
whodidntante
Posts: 6678
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Fri Aug 16, 2019 5:09 pm

Deleted
Last edited by whodidntante on Sun Aug 18, 2019 8:53 am, edited 1 time in total.

JustinR
Posts: 1122
Joined: Tue Apr 27, 2010 11:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JustinR » Sat Aug 17, 2019 1:01 am

whodidntante wrote:
Fri Aug 16, 2019 5:06 pm
JustinR wrote:
Fri Aug 16, 2019 2:47 am
Earl Lemongrab wrote:
Fri Jun 28, 2019 1:20 pm
Are you sure it's the same bonus? Same offer code and all?
Hey Earl,

How churnable is Merrill in your experience?

I finished a Merrill bonus and am now transferring the funds out to Etrade.

Can I come back to Merrill right away when ETrade is done in 6 months?

Or can you do them right after another? Or even simultaneously on multiple accounts?
Merrill requires one year between bonus payouts (confirmed by CSR) and there is a separate clock for IRAs and taxable accounts. Also, don't transfer exactly the same assets (same tickers same quantity) out and then back in. At least run a comb through its hair first.
Thank you! They were specific about the clock being about payouts? So you could start your bonus earlier as long as the payout is at least a year after the last bonus was paid?

Post Reply