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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Fri Jan 11, 2019 10:43 pm
by sc9182
Called ETrade this afternoon to find/improvise on their published offer. One of accounts could transfer about 800k. Asked their best offer, and been referred to a intown ETrade consultant. Got promised offered of $2500 upon $800k transfer-in. 6 months retention required.

Hope this helps folks achieve better bonus $$s, especially if your balance is tad short of the magic number(s) for maximum bonus. Good luck.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Fri Jan 11, 2019 10:55 pm
by confusedinvestor
Yes, that can do that in the existing account - that's is what they are doing for me when I called them...I am getting $500 to move 100K in my existing CMA account and they will waive any initial purchase fees of Vanguard MF....hope this helps
GulfShoresBound wrote:
Fri Jan 11, 2019 10:03 am
SlowMovingInvestor wrote:
Fri Jan 11, 2019 10:01 am
GulfShoresBound wrote:
Fri Jan 11, 2019 9:31 am
SlowMovingInvestor wrote:
Fri Jan 11, 2019 7:37 am
I already have an existing CMA at Merill, so don't want to add a new account just for logistical reasons (new 1099s etc.). is there any way to get the $900 offer added to an existing account ? [ I wouldn't even try to the add the $1000 offer since I didn't attend the Expo]


FWIW - I know from personal experience that if you call Merrill, tell them you saw the $1,000 offer and ask them if they will make it available to you even though you didn't attend the expo, that they will do so . . . . 8-)
They'l make it available to an existing account ?
Not sure about an existing account - but definitely will do it (or at least did it for me) for a new account. It wouldn't hurt to call an try though. :D

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Fri Jan 11, 2019 11:01 pm
by whodidntante
venus_06 wrote:
Fri Jan 11, 2019 9:53 am
whodidntante wrote:
Thu Jan 10, 2019 10:25 pm
New bonus alert. $200 for 25k at Chase You Invest.

https://accounts.chase.com/youinvest/tr ... You+Invest
Thanks for this information. Thinking of transferring 25k over for the bonus. Do you know if they have something like the Prime Money Market fund and what the yield is?
No, sorry. I don't have an account at Chase. I'll probably do the Sapphire 60k points offer instead of this one, if it's still available after my current lockup periods end. You could certainly hold an ultrashort bond ETF like ICSH (3.04%), SHV (2.29%), or T-bills.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Fri Jan 11, 2019 11:01 pm
by JustinR
For the Chase Sapphire offer: https://accounts.chase.com/consumer/ban ... sapphireUR

It's a checking account so how does that work if you want to move securities in? Does it come linked with a brokerage account?

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 1:44 am
by FlamingoTime
Ricchan wrote:
Fri Jan 11, 2019 8:32 pm
venus_06 wrote:
Fri Jan 11, 2019 9:53 am
whodidntante wrote:
Thu Jan 10, 2019 10:25 pm
New bonus alert. $200 for 25k at Chase You Invest.

https://accounts.chase.com/youinvest/tr ... You+Invest
Thanks for this information. Thinking of transferring 25k over for the bonus. Do you know if they have something like the Prime Money Market fund and what the yield is?
I'm wondering about this as well. It would be nice if they have something comparable to VMMXX, but it seems like most places do not (in terms of yield), so I'm not setting my expectations too high. I might just end up putting the money in a short term bond fund like MINT if their money market fund offerings are not appealing.
Merrill Edge has a Preferred Deposit (1.97% a few weeks ago). It has a minimum of $100,000 initial investment. I don't think think it has to stay at that level though. Downside is you have to call to move it back to savings/settlement account - but transfer happens pretty quickly.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 7:44 am
by SlowMovingInvestor
confusedinvestor wrote:
Fri Jan 11, 2019 10:55 pm
Yes, that can do that in the existing account - that's is what they are doing for me when I called them...I am getting $500 to move 100K in my existing CMA account and they will waive any initial purchase fees of Vanguard MF....hope this helps
GulfShoresBound wrote:
Fri Jan 11, 2019 10:03 am
SlowMovingInvestor wrote:
Fri Jan 11, 2019 10:01 am
GulfShoresBound wrote:
Fri Jan 11, 2019 9:31 am
SlowMovingInvestor wrote:
Fri Jan 11, 2019 7:37 am
I already have an existing CMA at Merill, so don't want to add a new account just for logistical reasons (new 1099s etc.). is there any way to get the $900 offer added to an existing account ? [ I wouldn't even try to the add the $1000 offer since I didn't attend the Expo]


FWIW - I know from personal experience that if you call Merrill, tell them you saw the $1,000 offer and ask them if they will make it available to you even though you didn't attend the expo, that they will do so . . . . 8-)
They'l make it available to an existing account ?
Not sure about an existing account - but definitely will do it (or at least did it for me) for a new account. It wouldn't hurt to call an try though. :D
Unfortunately I already got a bonus about 7 months back in this account, and they said that only one bonus per account type per 12 months would be paid. I'm not sure what would happen if I opened an account under the radar for the 900 bonus and transferred securities there -- i.e. I am not sure their back end systems actually enforce this rule for multiple accounts with the same SS

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 12:52 pm
by Startled Cat
I'm finally about to jump on some of these offers. I'm thinking of using the $1000 Merrill Edge promo twice (IRA, and taxable), and also opening a You Invest account to hold funds for the 60,000 UR Sapphire Banking promo.

Does anyone have experience with You Invest yet? Online reviews seem to suggest it has very limited functionality. I'm curious if it supports margin accounts and selling specific tax lots. I don't want margin to use for leverage, but I find margin accounts more convenient because they avoid confusing rules about settlement that I've accidentally violated before.

The source of some of my funds will be WellsTrade. I've been increasingly disappointed with WellsTrade and taking advantages of the bonuses will be a good excuse to move away from Wells Fargo completely. I feel they've underinvested in their online platform, and it's clunky to the point of unusability. Just today I logged in and tried to sell some fractional shares of a mutual fund that were left over from an earlier transaction. These were split across cash and margin accounts for some reason, so "sell all shares" told me to go enter individual sell orders for shares in the two accounts. But "sell" won't accept a fractional number of shares! Also, a lot of things that other platforms can do online, like designating a beneficiary or requesting a rollover, require submitting a long form by mail or fax.

Anyway, Wells Fargo charges $95 to transfer out an account, and I would be moving three accounts. I seem to remember that in the past it was common for receving brokerages to reimburse these fees. Is that still a thing, or have the cash bonuses largely replaced it?

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 1:00 pm
by Earl Lemongrab
Startled Cat wrote:
Sat Jan 12, 2019 12:52 pm
Anyway, Wells Fargo charges $95 to transfer out an account, and I would be moving three accounts. I seem to remember that in the past it was common for receving brokerages to reimburse these fees. Is that still a thing, or have the cash bonuses largely replaced it?
Depends on the custodian. If it's not a part of the advertised offer, you can ask about it.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 1:05 pm
by Startled Cat
Startled Cat wrote:
Sat Jan 12, 2019 12:52 pm
Does anyone have experience with You Invest yet? Online reviews seem to suggest it has very limited functionality. I'm curious if it supports margin accounts and selling specific tax lots. I don't want margin to use for leverage, but I find margin accounts more convenient because they avoid confusing rules about settlement that I've accidentally violated before.
Another thing I'm curious about, for both You Invest and Merrill Edge, is what kind of limits they place on outgoing fund transfers. WellsTrade limited me to $25k per day (or was it per week or per month?), which was annoying and one of the reasons I want to leave WellsTrade. Fidelity's limit is $100k per transaction, and the attached checking account at Fidelity makes it straightforward to do larger transactions.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 1:06 pm
by Ricola
Startled Cat wrote:
Sat Jan 12, 2019 12:52 pm
Anyway, Wells Fargo charges $95 to transfer out an account, and I would be moving three accounts. I seem to remember that in the past it was common for receving brokerages to reimburse these fees. Is that still a thing, or have the cash bonuses largely replaced it?
Unfortunately, Wells Fargo has the highest hostage (ACAT and closing) fees that I am aware of. For awhile Fidelity and Schwab were offering some dollar incentives to move over that would have taken the sting out of Wells Fargo. Vanguard does not offer any incentives, however, they also don't charge hostage fees. https://investorjunkie.com/stock-broker ... -accounts/

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 1:22 pm
by dual
Chase You Invest (CYI) investment commissions and fees:
Stocks and ETFs $2.95 ($100 trades at $0 commission for 1 year for anyone opening and funding a You Invest Trade account)
Options not offered
Mutual funds $0
Bonds $1 per bond with $10 minimum, $250 maximum
Treasuries commission-free
Futures not offered
Automated Customer Account Transfer (ACAT) $75
Retirement Brokerage Account Termination (IRAs and SEPs) $75
Applies when all assets are distributed or transferred out of the account.
I have some TBills in other accounts so I am thinking of transferring in cash via check to my new CYI account, buying Tbill at auction, and then after the lockup period transferring out by transferring to m Chase checking account and then to my Fidelity account via ACH transfer.

Does anyone know if I can link the CYI to my Chase checking account?

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 2:01 pm
by SlowMovingInvestor
dual wrote:
Sat Jan 12, 2019 1:22 pm
Does anyone know if I can link the CYI to my Chase checking account?
Yes, it's linked. Not sure how long transfers take though. I'm guessing 1 business day ?

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 2:05 pm
by dual
SlowMovingInvestor wrote:
Sat Jan 12, 2019 2:01 pm
dual wrote:
Sat Jan 12, 2019 1:22 pm
Does anyone know if I can link the CYI to my Chase checking account?
Yes, it's linked. Not sure how long transfers take though. I'm guessing 1 business day ?
Tnx. Transfers between other Chase accounts take place immediately but I am not in a hurry.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 2:20 pm
by Earl Lemongrab
Startled Cat wrote:
Sat Jan 12, 2019 1:05 pm
Another thing I'm curious about, for both You Invest and Merrill Edge, is what kind of limits they place on outgoing fund transfers. WellsTrade limited me to $25k per day (or was it per week or per month?), which was annoying and one of the reasons I want to leave WellsTrade. Fidelity's limit is $100k per transaction, and the attached checking account at Fidelity makes it straightforward to do larger transactions.
I've never had much reason for large cash transfers, but it often differs by whether you're doing a push or a pull.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 2:21 pm
by dual
Tried applying to Chase You Invest. The website failed repeatedly when entering some personal info:
It looks like this part of our site isn't working right now. Please try again.
Oh well. $200 is right on my threshold for all the fooling around with one of these offers.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Sat Jan 12, 2019 2:24 pm
by SlowMovingInvestor
dual wrote:
Sat Jan 12, 2019 2:05 pm
SlowMovingInvestor wrote:
Sat Jan 12, 2019 2:01 pm
dual wrote:
Sat Jan 12, 2019 1:22 pm
Does anyone know if I can link the CYI to my Chase checking account?
Yes, it's linked. Not sure how long transfers take though. I'm guessing 1 business day ?
Tnx. Transfers between other Chase accounts take place immediately but I am not in a hurry.
I think the YouInvest account is a sweep style account, so I'm guessing they can't actually move funds in or out till the end of the business day. And if you have a 'purchased' money market fund like a Vanguard fund at You Invest, I'm guessing it could take up to 2 days.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Mon Jan 14, 2019 12:31 pm
by yukon50
SlowMovingInvestor wrote:
Fri Jan 11, 2019 7:37 am
b0B wrote:
Fri Jan 04, 2019 9:45 am
jeffyscott wrote:
Fri Jan 04, 2019 7:07 am
For an IRA, are there any better offers at the $50K+ level than the $225 from ME?

https://www.merrilledge.com/offers/900offer

Since this one includes additions to existing accounts, I thought I would ask Schwab to match and just add to my current account there, if they will do so.
Compare these two
https://www.merrilledge.com/offers/900offer
https://www.merrilledge.com/offers/1000offer

The ME offers say in the fine print.

Offer valid for new and existing individual Merrill Edge IRAs or Cash Management Accounts (CMAs) opened by April 30, 2019.

I already have an existing CMA at Merill, so don't want to add a new account just for logistical reasons (new 1099s etc.). is there any way to get the $900 offer added to an existing account ? [ I wouldn't even try to the add the $1000 offer since I didn't attend the Expo]
This is my question as well. Last year I did a customized offer (which was pretty much the same terms as the posted offer) and the rep said I can only do one customized offer every 12 months. How do you go about adding the promo to an existing account and does it count as a customized offer?

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Mon Jan 14, 2019 3:07 pm
by Earl Lemongrab
yukon50 wrote:
Mon Jan 14, 2019 12:31 pm
SlowMovingInvestor wrote:
Fri Jan 11, 2019 7:37 am
I already have an existing CMA at Merill, so don't want to add a new account just for logistical reasons (new 1099s etc.). is there any way to get the $900 offer added to an existing account ? [ I wouldn't even try to the add the $1000 offer since I didn't attend the Expo]
This is my question as well. Last year I did a customized offer (which was pretty much the same terms as the posted offer) and the rep said I can only do one customized offer every 12 months. How do you go about adding the promo to an existing account and does it count as a customized offer?
Your best bet is to contact Edge and see. If you had a rep contact you at some point, that's a place to start. Otherwise use the general contact methods. Opening new accounts doesn't bother me because it's easy when you already have a login ID and they will be automatically coded. You can of course combine like accounts at some point.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Mon Jan 14, 2019 5:21 pm
by Earl Lemongrab
Did anyone do the HSBC $750 offer?

https://www.us.hsbc.com/checking-accoun ... AFF0000067

I opened the checking account, but I never could figure out how to open an investment account. Every link I found either was dead or took me somewhere irrelevant.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Mon Jan 14, 2019 6:12 pm
by SlowMovingInvestor
Earl Lemongrab wrote:
Mon Jan 14, 2019 3:07 pm
yukon50 wrote:
Mon Jan 14, 2019 12:31 pm
SlowMovingInvestor wrote:
Fri Jan 11, 2019 7:37 am
I already have an existing CMA at Merill, so don't want to add a new account just for logistical reasons (new 1099s etc.). is there any way to get the $900 offer added to an existing account ? [ I wouldn't even try to the add the $1000 offer since I didn't attend the Expo]
This is my question as well. Last year I did a customized offer (which was pretty much the same terms as the posted offer) and the rep said I can only do one customized offer every 12 months. How do you go about adding the promo to an existing account and does it count as a customized offer?
Your best bet is to contact Edge and see. If you had a rep contact you at some point, that's a place to start. Otherwise use the general contact methods. Opening new accounts doesn't bother me because it's easy when you already have a login ID and they will be automatically coded. You can of course combine like accounts at some point.
I was told:
The bonus is available once every 12 months per account type (retirement/non-retirement).


But no idea whether this is actually enforced or not. And not sure all the bonuses are the 'same' -- some are $600, some $900, some $1000.

I dislike getting multiple 1099s from a brokerage, so I would prefer to avoid opening another account if it's avoidable.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Tue Jan 15, 2019 6:26 am
by motorcyclesarecool
Earl Lemongrab wrote:
Mon Jan 14, 2019 5:21 pm
Did anyone do the HSBC $750 offer?

https://www.us.hsbc.com/checking-accoun ... AFF0000067

I opened the checking account, but I never could figure out how to open an investment account. Every link I found either was dead or took me somewhere irrelevant.
It appears they really really want you to deal with an inve$tment advi$or at a local branch Also, their fees make no sense to me:

https://www.us.hsbc.com/content/dam/hsb ... hedule.pdf

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Tue Jan 15, 2019 6:40 am
by JustinR
JustinR wrote:
Fri Jan 11, 2019 11:01 pm
For the Chase Sapphire offer: https://accounts.chase.com/consumer/ban ... sapphireUR

It's a checking account so how does that work if you want to move securities in? Does it come linked with a brokerage account?
Anyone know the answer to my question? I guess you just also open a YouInvest account at the same time?

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Tue Jan 15, 2019 8:27 am
by SlowMovingInvestor
JustinR wrote:
Tue Jan 15, 2019 6:40 am
JustinR wrote:
Fri Jan 11, 2019 11:01 pm
For the Chase Sapphire offer: https://accounts.chase.com/consumer/ban ... sapphireUR

It's a checking account so how does that work if you want to move securities in? Does it come linked with a brokerage account?
Anyone know the answer to my question? I guess you just also open a YouInvest account at the same time?
Yes, you open a YouInvest account and transferr securities in. Or transfer cash in and buy a Vanguard MM fund at You Invest.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Tue Jan 15, 2019 8:09 pm
by Earl Lemongrab
motorcyclesarecool wrote:
Tue Jan 15, 2019 6:26 am
Earl Lemongrab wrote:
Mon Jan 14, 2019 5:21 pm
Did anyone do the HSBC $750 offer?

https://www.us.hsbc.com/checking-accoun ... AFF0000067

I opened the checking account, but I never could figure out how to open an investment account. Every link I found either was dead or took me somewhere irrelevant.
It appears they really really want you to deal with an inve$tment advi$or at a local branch Also, their fees make no sense to me:

https://www.us.hsbc.com/content/dam/hsb ... hedule.pdf
I'll need to call I guess. There are no local branches. If it's too hard, I'll drop it.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Tue Jan 15, 2019 8:12 pm
by Earl Lemongrab
I signed up for the $1000 Edge offer in both IRA and individual, then initiated transfers from two TDA accounts over the weekend. The transfer requests hit TDA today, and by the afternoon I had a voicemail from a local TDA rep. Got their attention!

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Wed Jan 16, 2019 11:37 am
by SlowMovingInvestor
Earl Lemongrab wrote:
Tue Jan 15, 2019 8:12 pm
I signed up for the $1000 Edge offer in both IRA and individual, then initiated transfers from two TDA accounts over the weekend. The transfer requests hit TDA today, and by the afternoon I had a voicemail from a local TDA rep. Got their attention!
Full or partial transfers ?

I'm guessing they'll match Merill Edge ..

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Wed Jan 16, 2019 12:40 pm
by marcopolo
MikeG62 wrote:
Mon Nov 12, 2018 8:12 am
marcopolo wrote:
Sun Nov 11, 2018 1:39 pm

Yeah. My 401k is administered by Fidelity. I would have preferred to roll over into fidelity IRA, but they will not give bonus for their own administered 401k rollovers. I guess i will just send to Etrade, then back to fidelity (maybe with a visit through TDA as well).
Marcopolo,

I did precisely this with Fidelity earlier this year. I called and spoke with a private client group CS rep. Said I would be rolling over my 401K to a rollover IRA and I was looking at a number of brokers, all of whom were offering bonuses for the transfer. I asked if Fidelity was willing to offer me a retention bonus to stay (said I would prefer to stay with Fidelity, but was not going to pass on a large transfer bonus if that was available to me). CS rep asked if I would mind being put on hold for a few minutes while he ran this to ground (my answer was of course no). He came back on the line and said they would give me $2,500 to rollover the funds to a Fidelity rollover IRA. Only requirement was that the funds had to remain in the rollover IRA for at least 60 days. So I went ahead and opened the rollover IRA with Fidelity and moved the funds over. The bonus posted within a week or two of my passing the 60 day mark.

I wrote about my experience in this thread back on May 1st of this year.

Ended up speaking to my private client group advisor subsequently (about something else) and he brought up the retention bonus. Said something like good to see you got the $2,500 retention bonus. Then went on to say we are not supposed to offer that to clients. However, for those who call and ask we have been doing it.

I'd call and suggest you are seriously considering moving the funds out of Fidelity. Tell them you'd like to stay with them, but can't turn a blind eye to a four figure transfer bonus (and mention you know of others who have gotten a retention bonus from Fidelity). See what they say.

Good luck.
Thanks for the suggestion, I think it saved me a lot of time and aggravation!

I received my $2.5k retention bonus from Fidelity today. Staying with them for the rollover from 401k to IRAs was definitely a good idea.
My PCG rep talked me through their "Transfer team", the whole thing took about 5 minutes on the phone, no paper work at all. The money was transferred in two days from my 401k and split between my tIRA and Roth IRA. The bonus showed up 2 days later. Given some of the stories i have read about problems and delays associated with 401k Rollovers (especially when splitting out after-tax contributions), I am really glad i stayed within one brokerage house.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Wed Jan 16, 2019 1:16 pm
by FlamingoTime
I was going to possibly bring almost $1M as a new customer/account to Fidelity, went in and spoke to them and my advisor called her boss to ask about the bonus. He said no, so I didn't move any $$ there. Too bad, would have been convenient, but they gave me no incentive.

I just had my $900 bonus post from Merrill Edge for moving $200k in. I keep $100k between them and B of A to retain Platinum Rewards status.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Wed Jan 16, 2019 1:24 pm
by Earl Lemongrab
SlowMovingInvestor wrote:
Wed Jan 16, 2019 11:37 am
Earl Lemongrab wrote:
Tue Jan 15, 2019 8:12 pm
I signed up for the $1000 Edge offer in both IRA and individual, then initiated transfers from two TDA accounts over the weekend. The transfer requests hit TDA today, and by the afternoon I had a voicemail from a local TDA rep. Got their attention!
Full or partial transfers ?
Partial. I usually do that, and always at TDA because they immediately close the account and block access to documents on a full transfer. In this case the 200k from each was significantly less than the total.
I'm guessing they'll match Merill Edge ..
Well, we won't know because I'm not stopping the transfer. In fact I see the funds are in my Edge accounts. ACATS sure is fast these days!

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Wed Jan 16, 2019 3:24 pm
by MikeG62
marcopolo wrote:
Wed Jan 16, 2019 12:40 pm
MikeG62 wrote:
Mon Nov 12, 2018 8:12 am
marcopolo wrote:
Sun Nov 11, 2018 1:39 pm

Yeah. My 401k is administered by Fidelity. I would have preferred to roll over into fidelity IRA, but they will not give bonus for their own administered 401k rollovers. I guess i will just send to Etrade, then back to fidelity (maybe with a visit through TDA as well).
Marcopolo,

I did precisely this with Fidelity earlier this year. I called and spoke with a private client group CS rep. Said I would be rolling over my 401K to a rollover IRA and I was looking at a number of brokers, all of whom were offering bonuses for the transfer. I asked if Fidelity was willing to offer me a retention bonus to stay (said I would prefer to stay with Fidelity, but was not going to pass on a large transfer bonus if that was available to me). CS rep asked if I would mind being put on hold for a few minutes while he ran this to ground (my answer was of course no). He came back on the line and said they would give me $2,500 to rollover the funds to a Fidelity rollover IRA. Only requirement was that the funds had to remain in the rollover IRA for at least 60 days. So I went ahead and opened the rollover IRA with Fidelity and moved the funds over. The bonus posted within a week or two of my passing the 60 day mark.

I wrote about my experience in this thread back on May 1st of this year.

Ended up speaking to my private client group advisor subsequently (about something else) and he brought up the retention bonus. Said something like good to see you got the $2,500 retention bonus. Then went on to say we are not supposed to offer that to clients. However, for those who call and ask we have been doing it.

I'd call and suggest you are seriously considering moving the funds out of Fidelity. Tell them you'd like to stay with them, but can't turn a blind eye to a four figure transfer bonus (and mention you know of others who have gotten a retention bonus from Fidelity). See what they say.

Good luck.
Thanks for the suggestion, I think it saved me a lot of time and aggravation!

I received my $2.5k retention bonus from Fidelity today. Staying with them for the rollover from 401k to IRAs was definitely a good idea.
My PCG rep talked me through their "Transfer team", the whole thing took about 5 minutes on the phone, no paper work at all. The money was transferred in two days from my 401k and split between my tIRA and Roth IRA. The bonus showed up 2 days later. Given some of the stories i have read about problems and delays associated with 401k Rollovers (especially when splitting out after-tax contributions), I am really glad i stayed within one brokerage house.
You are welcome!

Glad to hear your experience was positive as well. Mine was too - very simple (although I did not have the split between tIRA and Roth IRA as you did).

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 6:10 am
by sc9182
Last year already received Fidelity retention bonus (in-addition to the transfer-in bonus the year before). Requested Fidelity retention bonus this year (after 12 months passed). Was told NO. Indicated other brokerages are vying for monies, still NO retention bonus/offer. Hence, moved some rollover IRA monies (under $1MM) to ETrade - but got the promise that $2500 retention bonus be paid-out on that transfer-in. Waiting 60 days to roll brokerage monies (and hoping for additional $2500) - keeping fingers crossed.

Didn't want to jump around if Fid threw in decent retention bonus, but was told 'retention' bonus is once for lifetime of the account. So, may have to get-out (to etrade $2500 bonus); stay there for a 6-months, and and get-back-in to Fidelity (Fidelity indicated they still offer matching-bonus for net new monies), a round-trip appears more gainful than staying put. Where is the respect (monies) for the loyal customer! :-)

Will keep us posted.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 10:40 am
by BashDash
Quick question regarding Ally Invest. I believe I read here that there bonus is a headache. If one already has a ally bank account maybe it might make a transfer easier to make. I have a oversized emergency account with ally bank and was hoping to take advantage of the ally invest bonus. Would there be a "cash-like" ETF I could invest in that would have a similar 2.2% interest rate? Would it create a taxable invest to go in and out of this ETF if it did exist? I'm not sure if I am explaining this properly.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 11:28 am
by worthit
I am considering moving to Ally invest to take advantage of their promotions before Jan 31. How easy is it to move the accounts in and out of Ally? In my case it will be a brokerage account.

Anyone used them? Anything to be concerned about?

Thanks.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 12:26 pm
by Earl Lemongrab
With Ally, be aware that the brokerage bonus is a once-in-a-lifetime thing. That also includes Tradeking bonuses from before the merger.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 1:21 pm
by GeraniumLover
worthit wrote:
Thu Jan 17, 2019 11:28 am
I am considering moving to Ally invest to take advantage of their promotions before Jan 31.
Would someone please summarize or post a link to the current Ally promotions?

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 2:53 pm
by robertmcd

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 2:57 pm
by robertmcd
BashDash wrote:
Thu Jan 17, 2019 10:40 am
Quick question regarding Ally Invest. I believe I read here that there bonus is a headache. If one already has a ally bank account maybe it might make a transfer easier to make. I have a oversized emergency account with ally bank and was hoping to take advantage of the ally invest bonus. Would there be a "cash-like" ETF I could invest in that would have a similar 2.2% interest rate? Would it create a taxable invest to go in and out of this ETF if it did exist? I'm not sure if I am explaining this properly.
Plenty of ETF options like that. Yes if your shares appreciate and you want to sell it would be a capital gain, but on such short term quality securities the change in NAV will be minimal so you won't pay much.

Use the ETF.com screener and look at ultra-short term fixed income. Some of them are 100% 1-3 months t bills, some are <1 yr treasuries, and the riskier ones like GSY, ICSH, JPST include corporate, floating, MBS, etc.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 3:29 pm
by Ricchan
robertmcd wrote:
Thu Jan 17, 2019 2:57 pm
BashDash wrote:
Thu Jan 17, 2019 10:40 am
Quick question regarding Ally Invest. I believe I read here that there bonus is a headache. If one already has a ally bank account maybe it might make a transfer easier to make. I have a oversized emergency account with ally bank and was hoping to take advantage of the ally invest bonus. Would there be a "cash-like" ETF I could invest in that would have a similar 2.2% interest rate? Would it create a taxable invest to go in and out of this ETF if it did exist? I'm not sure if I am explaining this properly.
Plenty of ETF options like that. Yes if your shares appreciate and you want to sell it would be a capital gain, but on such short term quality securities the change in NAV will be minimal so you won't pay much.

Use the ETF.com screener and look at ultra-short term fixed income. Some of them are 100% 1-3 months t bills, some are <1 yr treasuries, and the riskier ones like GSY, ICSH, JPST include corporate, floating, MBS, etc.
I've used the following ETFs with the intention to hold for a couple months to a year, in order of preference:

Treasury funds: SHV (0.40 yr avg maturity), BIL (0.17 yr), and SHY (1.88 yr).
Non-treasury funds: MINT (0.34 yr) and NEAR (1.35 yr). Note that MINT is an active fund.

These are not money market funds like VMMXX, so their NAV will fluctuate. Also note that the Ally bonus requires you to keep your qualifying deposit and bonus in the account for 300+ days (emphasis mine):
Cash Bonus: The minimum qualifying deposit to receive a cash bonus is $10,000. Cash bonus levels are identified above. Accounts will be reviewed 60 days after account opening to determine the total qualifying deposit. Corresponding cash bonus will be credited to the account within 10 business days. Once the bonus is credited to the account, the bonus and qualifying deposit (minus any trading losses) is not available for withdrawal for 300 days. If the qualifying deposit is withdrawn, the bonus may be revoked.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 3:41 pm
by tj
I think I used VCHS when I held $$ at Tradeking for a couple months a year and a half ago. I don't remember if it gained or lost. It was negligible.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 3:45 pm
by Ricchan
tj wrote:
Thu Jan 17, 2019 3:41 pm
I think I used VCHS when I held $$ at Tradeking for a couple months a year and a half ago. I don't remember if it gained or lost. It was negligible.
Do you mean VGSH? I've considered that in the past, but the avg maturity of 2.0 yrs was a bit out of my range.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 3:50 pm
by robertmcd
MINT and NEAR fall more in line with short term (1-3 yr) than ultra short (<1 yr) in my opinion, but they are ok. Riskier for sure and they have kinda high ER's.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 3:52 pm
by libralibra
post removed

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 4:17 pm
by tj
Ricchan wrote:
Thu Jan 17, 2019 3:45 pm
tj wrote:
Thu Jan 17, 2019 3:41 pm
I think I used VCHS when I held $$ at Tradeking for a couple months a year and a half ago. I don't remember if it gained or lost. It was negligible.
Do you mean VGSH? I've considered that in the past, but the avg maturity of 2.0 yrs was a bit out of my range.
No I used the corporate fund. It was a very small amount of $$$ though.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 4:50 pm
by Ricchan
tj wrote:
Thu Jan 17, 2019 4:17 pm
Ricchan wrote:
Thu Jan 17, 2019 3:45 pm
tj wrote:
Thu Jan 17, 2019 3:41 pm
I think I used VCHS when I held $$ at Tradeking for a couple months a year and a half ago. I don't remember if it gained or lost. It was negligible.
Do you mean VGSH? I've considered that in the past, but the avg maturity of 2.0 yrs was a bit out of my range.
No I used the corporate fund. It was a very small amount of $$$ though.
Oh, I see, VCSH. (I had the letters mixed up when I googled for "VCHS".)

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 4:52 pm
by tj
Looks like I had the mixed up too!

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 4:55 pm
by yougotitdude
ally was horrible for me. It took many, many chats for them to credit a bonus last year. Totally not worth it.

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 5:00 pm
by Ricchan
libralibra wrote:
Thu Jan 17, 2019 3:52 pm
Ricchan wrote:
Thu Jan 17, 2019 3:29 pm
I've used the following ETFs with the intention to hold for a couple months to a year, in order of preference:

Treasury funds: SHV (0.40 yr avg maturity), BIL (0.17 yr), and SHY (1.88 yr).
Non-treasury funds: MINT (0.34 yr) and NEAR (1.35 yr). Note that MINT is an active fund.
Do you know how these Treasury ETFs are taxed? They pay an ordinary div every month, but are those 100% state tax free? Is this reported on the 1099div somehow? thx
From my memory, there was no special reporting for the Treasury ETF income in the 1099. In Turbotax, during the State section, there was an option to enter the amount of income from U.S. Government and agency obligations, which I calculated using information from the fund's website, e.g.:
https://www.ishares.com/us/library/tax
https://www.ishares.com/us/literature/t ... 364642.pdf

For SHV and SHY, the percentage was 98.74% and 99.71% for 2017, so they should be pretty close to 100% state tax free.

(I'm not a tax expert, so don't take this as official legal advice or anything.)

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 6:19 pm
by libralibra
post removed

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 6:24 pm
by oslocal
Can I get the $900 transfer bonus to Merrill Edge with a combination of taxable and IRA accounts? Or does it all have to be for one account?

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Posted: Thu Jan 17, 2019 7:41 pm
by worthit