The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by SlowMovingInvestor » Fri Oct 04, 2019 7:38 pm

Schwab actually has it's first bonus in a while for existing customers

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

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.

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

Post by student » Fri Oct 04, 2019 7:58 pm

SlowMovingInvestor wrote:
Fri Oct 04, 2019 7:38 pm
Schwab actually has it's first bonus in a while for existing customers

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

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.
I just saw the news. Too bad I have nothing to transfer. This may not be available often in the future.

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

Post by SlowMovingInvestor » Sat Oct 05, 2019 7:53 am

Has anyone checked whether the 'referral bonus' can be used by previous (but not current Schwab customers) ?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Sat Oct 05, 2019 8:00 am

student wrote:
Fri Oct 04, 2019 7:58 pm
SlowMovingInvestor wrote:
Fri Oct 04, 2019 7:38 pm
Schwab actually has it's first bonus in a while for existing customers

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

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.
I just saw the news. Too bad I have nothing to transfer. This may not be available often in the future.
Me too. Every bonus worthy chunk of securities is currently earning me a bonus somewhere.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover » Thu Oct 10, 2019 11:00 am

Given that trades are free at most brokerages now (Vanguard and MerrillEdge seem to be the holdouts), it seems that brokers will have to offer incentives other than free trades to attract new investments. Hopefully this will set off a new round of cash bonuses, including from Fidelity.

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

Post by SlowMovingInvestor » Thu Oct 10, 2019 6:57 pm

SlowMovingInvestor wrote:
Fri Oct 04, 2019 7:38 pm
Schwab actually has it's first bonus in a while for existing customers

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

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.
Doctor of Credit reports a user saying that a Schwab agent said this bonus may last only a short while because of demand. Could be standard sales pitch, of course.

I'll have to check if Schwab will pro-rate the bonus over 2 accounts (IRA + regular).

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover » Fri Oct 11, 2019 8:55 am

SlowMovingInvestor wrote:
Thu Oct 10, 2019 6:57 pm
SlowMovingInvestor wrote:
Fri Oct 04, 2019 7:38 pm
Schwab actually has it's first bonus in a while for existing customers

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

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.
Doctor of Credit reports a user saying that a Schwab agent said this bonus may last only a short while because of demand. Could be standard sales pitch, of course.
If that's the case, it probably make sense if you are interested in this offer to apply for the account ASAP and decide over the next 45 days whether to keep it.

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

Post by SlowMovingInvestor » Fri Oct 11, 2019 5:07 pm

A Schwab rep told me that they could move Vanguard Admiral Funds over, but would not allow transactions (I.e. no sales). Surprising, frankly.

I am not sure the rep was correct. Anyone have any experience in this ?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Fri Oct 11, 2019 9:31 pm

SlowMovingInvestor wrote:
Fri Oct 11, 2019 5:07 pm
A Schwab rep told me that they could move Vanguard Admiral Funds over, but would not allow transactions (I.e. no sales). Surprising, frankly.

I am not sure the rep was correct. Anyone have any experience in this ?
Really? I suspect you can hold Admiral funds in your Schwartz account, sell them as well, but not buy more. That’s the way it was with another broker I used.

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

Post by SlowMovingInvestor » Sat Oct 12, 2019 5:13 pm

neilpilot wrote:
Fri Oct 11, 2019 9:31 pm
SlowMovingInvestor wrote:
Fri Oct 11, 2019 5:07 pm
A Schwab rep told me that they could move Vanguard Admiral Funds over, but would not allow transactions (I.e. no sales). Surprising, frankly.

I am not sure the rep was correct. Anyone have any experience in this ?
Really? I suspect you can hold Admiral funds in your Schwartz account, sell them as well, but not buy more. That’s the way it was with another broker I used.
That's what I would have figured too. I think the rep made a mistake. He did say that dividends can be reinvested (although I wasn't interested in that).

Not much point in allowing transfer of a fund that you can't sell !

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by aristotelian » Sat Oct 12, 2019 5:50 pm

SlowMovingInvestor wrote:
Fri Oct 11, 2019 5:07 pm
A Schwab rep told me that they could move Vanguard Admiral Funds over, but would not allow transactions (I.e. no sales). Surprising, frankly.

I am not sure the rep was correct. Anyone have any experience in this ?
That doesn't sound right to me either, but if it's true a workaround would be to call Vanguard and ask them to switch to the ETF. Unfortunately you do need to call but my understanding is they will now convert mutual fund to ETF with no taxable event.

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

Post by SlowMovingInvestor » Sat Oct 12, 2019 5:54 pm

aristotelian wrote:
Sat Oct 12, 2019 5:50 pm
SlowMovingInvestor wrote:
Fri Oct 11, 2019 5:07 pm
A Schwab rep told me that they could move Vanguard Admiral Funds over, but would not allow transactions (I.e. no sales). Surprising, frankly.

I am not sure the rep was correct. Anyone have any experience in this ?
That doesn't sound right to me either, but if it's true a workaround would be to call Vanguard and ask them to switch to the ETF. Unfortunately you do need to call but my understanding is they will now convert mutual fund to ETF with no taxable event.
These are some of VG's MFs (active) that have no equivalent ETFs and are not convertible. Too much embedded gain to sell too.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Sun Oct 13, 2019 2:22 pm

SlowMovingInvestor wrote:
Fri Sep 06, 2019 12:26 pm
Not a bad Schwab bonus,

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

You do need a referral.
Thank you. Got the latest Merrill bonus 2 weeks ago, and was just wondering where to move my IRA next. Opened my first ever Schwab account last week using this link. I find $300 bonus for $50K asset transfer generous, and now it comes with $0 commissions as well. Thanks again.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Sun Oct 13, 2019 2:28 pm

snowman wrote:
Tue Mar 05, 2019 3:56 pm
Do you guys know from experience if this is allowed to collect the bonus at ME?

I opened new Rollover IRA and funded it April 2018. Bonus showed up 3 months later. I moved the account back to TDA last month, and there is some residual money left in the account. Is it possible to keep that account open, and open new Rollover IRA with the latest bonus code ORLMS19, and collect the bonus 6 months later?

Reading the small print it seems this should be allowed (it is new account after all), but I don’t want to take the chance, and I certainly don’t want to call ME. Hoping that some of you veterans have done it before and know the answer.

Thanks again!
I am answering my own question here for the benefit of this community. Based on my own personal experience, the answer to question above is yes.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by CoastalWinds » Sun Oct 13, 2019 2:38 pm

Following ...

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Sun Oct 13, 2019 6:04 pm

I have opened a number of Edge accounts for new bonuses as I try to get some every year.

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

Post by SlowMovingInvestor » Sun Oct 13, 2019 7:49 pm

snowman wrote:
Sun Oct 13, 2019 2:22 pm
SlowMovingInvestor wrote:
Fri Sep 06, 2019 12:26 pm
Not a bad Schwab bonus,

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

You do need a referral.
Thank you. Got the latest Merrill bonus 2 weeks ago, and was just wondering where to move my IRA next. Opened my first ever Schwab account last week using this link. I find $300 bonus for $50K asset transfer generous, and now it comes with $0 commissions as well. Thanks again.
I wonder if one can use the referral Schwab bonus to get one bonus, then use the transfer to account bonus to get another bonus for that account.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by LuigiLikesPizza » Tue Oct 15, 2019 2:03 pm

I'm likely to have about $200K to rollover/bring into a new brokerage in the next few weeks.

Is this Schwab offer, currently the most beneficial? anyone know? thanks

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Oct 15, 2019 3:38 pm

LuigiLikesPizza wrote:
Tue Oct 15, 2019 2:03 pm
I'm likely to have about $200K to rollover/bring into a new brokerage in the next few weeks.

Is this Schwab offer, currently the most beneficial? anyone know? thanks
You could split it into 2, 100K to Schwab for referral offer, 100K to Merill Edge for $600.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Tue Oct 29, 2019 11:36 am

TDA has some pretty good transfer incentives for the taxable account, but expiring soon.

$50k transfer : bonus $300
$100k transfer : bonus $700
$250k transfer : bonus $1,300
$500k transfer : bonus $1,900

$1m transfer : bonus $3,500
$2m transfer : bonus $6,600
$5m transfer : bonus $12,700

https://www.tdameritrade.com/gametime

You probably need to talk to a rep to have the promo coded to your account.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover » Tue Oct 29, 2019 12:00 pm

indexfundfan wrote:
Tue Oct 29, 2019 11:36 am
TDA has some pretty good transfer incentives for the taxable account, but expiring soon.

$50k transfer : bonus $300
$100k transfer : bonus $700
$250k transfer : bonus $1,300
$500k transfer : bonus $1,900

$1m transfer : bonus $3,500
$2m transfer : bonus $6,600
$5m transfer : bonus $12,700

https://www.tdameritrade.com/gametime

You probably need to talk to a rep to have the promo coded to your account.
Maybe I missed it but I didn't read anything about how long the funds need to stay at TDA

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Oct 29, 2019 12:19 pm

GeraniumLover wrote:
Tue Oct 29, 2019 12:00 pm
indexfundfan wrote:
Tue Oct 29, 2019 11:36 am
TDA has some pretty good transfer incentives for the taxable account, but expiring soon.

$50k transfer : bonus $300
$100k transfer : bonus $700
$250k transfer : bonus $1,300
$500k transfer : bonus $1,900

$1m transfer : bonus $3,500
$2m transfer : bonus $6,600
$5m transfer : bonus $12,700

https://www.tdameritrade.com/gametime

You probably need to talk to a rep to have the promo coded to your account.
Maybe I missed it but I didn't read anything about how long the funds need to stay at TDA
Account value of the qualifying account must remain equal to, or greater than, the value after the net deposit was made (minus any losses due to trading or market volatility or margin debit balances) for 12 months,

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Oct 29, 2019 12:32 pm

indexfundfan wrote:
Tue Oct 29, 2019 11:36 am
TDA has some pretty good transfer incentives for the taxable account, but expiring soon.

$50k transfer : bonus $300
$100k transfer : bonus $700
$250k transfer : bonus $1,300
$500k transfer : bonus $1,900

$1m transfer : bonus $3,500
$2m transfer : bonus $6,600
$5m transfer : bonus $12,700

https://www.tdameritrade.com/gametime

You probably need to talk to a rep to have the promo coded to your account.
What if you're doing an IRA -- will they put the $700 into the IRA or only $200 ?

I am also wondering what sort of lookback period they have, because I just pulled a fair amount from another TDAM account :(

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Tue Oct 29, 2019 12:35 pm

SlowMovingInvestor wrote:
Tue Oct 29, 2019 12:32 pm
indexfundfan wrote:
Tue Oct 29, 2019 11:36 am
TDA has some pretty good transfer incentives for the taxable account, but expiring soon.

$50k transfer : bonus $300
$100k transfer : bonus $700
$250k transfer : bonus $1,300
$500k transfer : bonus $1,900

$1m transfer : bonus $3,500
$2m transfer : bonus $6,600
$5m transfer : bonus $12,700

https://www.tdameritrade.com/gametime

You probably need to talk to a rep to have the promo coded to your account.
What if you're doing an IRA -- will they put the $700 into the IRA or only $200 ?

I am also wondering what sort of lookback period they have, because I just pulled a fair amount from another TDAM account :(
Offer not valid for IRAs.
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SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Oct 29, 2019 12:45 pm

For TDAM, actual transfer needs to be completed by Oct 8th. Not just initiating transfer.

Not much time -- it takes a few days for ACATs. Disappointing that the board missed this earlier :(

ADDED: *Offer valid for preselected clients who respond to the offer.

So not clear they would honor it if you're not preselected.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by fire_maybe » Tue Oct 29, 2019 12:56 pm

SlowMovingInvestor wrote:
Fri Oct 04, 2019 7:38 pm
Schwab actually has it's first bonus in a while for existing customers

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

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.
Two questions...

(1) Which brokerages generally only allow one bonus per customer ever? The TD bonus seems like the best deal in a long time and some brokerages seem willing to match the offer and my inclination would be to use it on a brokerage that doesn't tend to allow churning of bonuses.

(2) The annoying thing is that offers get worse dollar-for-dollar, especially above $1M or $2M. I could make more by splitting up my money which is annoying, but if I'm going to get pushback trying to get a second bonus in the future, it would make sense to never split up my money and maximize bonuses. What strategy do you all use when deciding whether to split or consolidate?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Tue Oct 29, 2019 12:59 pm

SlowMovingInvestor wrote:
Tue Oct 29, 2019 12:45 pm
For TDAM, actual transfer needs to be completed by Oct 8th. Not just initiating transfer.

Not much time -- it takes a few days for ACATs. Disappointing that the board missed this earlier :(

ADDED: *Offer valid for preselected clients who respond to the offer.

So not clear they would honor it if you're not preselected.
If you want to get on, you need to talk to a rep from your local office immediately. If your account title is not complicated (individual or joint), the transfer should complete in 3 or 4 business days.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Oct 29, 2019 1:03 pm

indexfundfan wrote:
Tue Oct 29, 2019 12:59 pm

If you want to get on, you need to talk to a rep from your local office immediately. If your account title is not complicated (individual or joint), the transfer should complete in 3 or 4 business days.
I can do it if I open a new account from that page, right ? My problem is I have a bonus in another regular account and the retention period for that is still running :(.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Oct 29, 2019 1:05 pm

fire_maybe wrote:
Tue Oct 29, 2019 12:56 pm
SlowMovingInvestor wrote:
Fri Oct 04, 2019 7:38 pm
Schwab actually has it's first bonus in a while for existing customers

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

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.
Two questions...

(1) Which brokerages generally only allow one bonus per customer ever? The TD bonus seems like the best deal in a long time and some brokerages seem willing to match the offer and my inclination would be to use it on a brokerage that doesn't tend to allow churning of bonuses.
Fido in recent years unless you're bringing a really hefty sum over.

Schwab was that way for 2 years or so, but just offered this bonuses for existing customers and the referral bonus for previous customers.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by boglewow » Tue Oct 29, 2019 1:05 pm

SlowMovingInvestor wrote:
Tue Oct 29, 2019 12:45 pm
For TDAM, actual transfer needs to be completed by Oct 8th. Not just initiating transfer.

Not much time -- it takes a few days for ACATs. Disappointing that the board missed this earlier :(

ADDED: *Offer valid for preselected clients who respond to the offer.

So not clear they would honor it if you're not preselected.
Just confirmed with TD rep: you do not have to be preselected, any deposit will trigger the bonus. If not, just call the TD client desk.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Tue Oct 29, 2019 1:06 pm

SlowMovingInvestor wrote:
Tue Oct 29, 2019 1:03 pm
indexfundfan wrote:
Tue Oct 29, 2019 12:59 pm

If you want to get on, you need to talk to a rep from your local office immediately. If your account title is not complicated (individual or joint), the transfer should complete in 3 or 4 business days.
I can do it if I open a new account from that page, right ? My problem is I have a bonus in another regular account and the retention period for that is still running :(.
No idea.
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SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Oct 29, 2019 1:08 pm

indexfundfan wrote:
Tue Oct 29, 2019 1:06 pm
SlowMovingInvestor wrote:
Tue Oct 29, 2019 1:03 pm
indexfundfan wrote:
Tue Oct 29, 2019 12:59 pm

If you want to get on, you need to talk to a rep from your local office immediately. If your account title is not complicated (individual or joint), the transfer should complete in 3 or 4 business days.
I can do it if I open a new account from that page, right ? My problem is I have a bonus in another regular account and the retention period for that is still running :(.
No idea.
It says 'New accounts must be titled differently from any existing TD Ameritrade accounts.'. I suppose that means a new individual account wouldn't do, and no IRA accounts allowed. So only a joint account would do, which complicates matters.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by the way » Tue Oct 29, 2019 1:23 pm

btw it's strange that the last footnote says "**Cash bonus of up to $700 requires a valid transfer from another brokerage company by 11/08/19", which kind of implies the bulk of the bonus doesn't need "new money". Eg if you had an existing joint and individual account already at TD, you could just swap all the assets and get the bonus in each one.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Tue Oct 29, 2019 3:06 pm

the way wrote:
Tue Oct 29, 2019 1:23 pm
btw it's strange that the last footnote says "**Cash bonus of up to $700 requires a valid transfer from another brokerage company by 11/08/19", which kind of implies the bulk of the bonus doesn't need "new money". Eg if you had an existing joint and individual account already at TD, you could just swap all the assets and get the bonus in each one.
The rep told me that this additional bonus is for getting assets from a competitor. I assume you won't get this bonus if you simply deposit money from a bank.
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SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Oct 29, 2019 3:11 pm

indexfundfan wrote:
Tue Oct 29, 2019 3:06 pm
the way wrote:
Tue Oct 29, 2019 1:23 pm
btw it's strange that the last footnote says "**Cash bonus of up to $700 requires a valid transfer from another brokerage company by 11/08/19", which kind of implies the bulk of the bonus doesn't need "new money". Eg if you had an existing joint and individual account already at TD, you could just swap all the assets and get the bonus in each one.
The rep told me that this additional bonus is for getting assets from a competitor. I assume you won't get this bonus if you simply deposit money from a bank.
So you first ACH the cash to that competitor, then transfer it as part of the account transfer :happy

Honestly, I thought that institutions would cut back on bonuses after losing a chunk of their revenues from 0 commissions, but it seems like they're going the opposite route. [Although this TDAM promotion looks like it's been around for a while, since it says 08/19/19]

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hale2 » Tue Oct 29, 2019 3:46 pm

SlowMovingInvestor wrote:
Tue Oct 29, 2019 1:08 pm
indexfundfan wrote:
Tue Oct 29, 2019 1:06 pm
SlowMovingInvestor wrote:
Tue Oct 29, 2019 1:03 pm
indexfundfan wrote:
Tue Oct 29, 2019 12:59 pm

If you want to get on, you need to talk to a rep from your local office immediately. If your account title is not complicated (individual or joint), the transfer should complete in 3 or 4 business days.
I can do it if I open a new account from that page, right ? My problem is I have a bonus in another regular account and the retention period for that is still running :(.
No idea.
It says 'New accounts must be titled differently from any existing TD Ameritrade accounts.'. I suppose that means a new individual account wouldn't do, and no IRA accounts allowed. So only a joint account would do, which complicates matters.
I transferred funds into an account I just opened in May. Received a bonus for the May deposit as well as this one.

hale2
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hale2 » Tue Oct 29, 2019 3:51 pm

SlowMovingInvestor wrote:
Tue Oct 29, 2019 3:11 pm
So you first ACH the cash to that competitor, then transfer it as part of the account transfer :happy
[ quote fixed by admin LadyGeek]

Actually, this is exactly what I did. I had recently sold a property. To get the extra $300 bonus I transferred the funds from my bank account to a Vanguard short term bond fund. I then submitted the request to TD to transfer that fund from Vanguard. Received the bonus. I then wanted to use those funds for more long term investments, so I asked for, and received a fee waiver on selling the fund.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 557880yvi » Tue Oct 29, 2019 9:04 pm

The Schwab bonus offer ad says in fine print, that a 1099 will be issued for the bonus(es) - meaning this is taxable income. I spoke to the local Schwab office where we are considering moving funds to from Vanguard (which will get the maximum bonus currently offered). They told me that the way they put this bonus money in the account doesn't generate a 1099 (not reported to IRS). We are closely managing our taxable income won't transfer the $ if the bonus is taxable (sends us over one of those nasty tax cliffs!)

Has anyone received the Schwab bonus and was told it was not going to be reported as taxable income? Not sure they can do that so maybe someone in their office just needs to hit goals and figures we would not move the $ out because of the 12 month requirement even if it did wind up being taxable! :annoyed

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

Post by SlowMovingInvestor » Tue Oct 29, 2019 9:10 pm

557880yvi wrote:
Tue Oct 29, 2019 9:04 pm
The Schwab bonus offer ad says in fine print, that a 1099 will be issued for the bonus(es) - meaning this is taxable income. I spoke to the local Schwab office where we are considering moving funds to from Vanguard (which will get the maximum bonus currently offered). They told me that the way they put this bonus money in the account doesn't generate a 1099 (not reported to IRS). We are closely managing our taxable income won't transfer the $ if the bonus is taxable (sends us over one of those nasty tax cliffs!)
If you're transferring an IRA, it shouldn't be taxable now (or ever if Roth).

If a regular brokerage account, I don't see how it's not taxable. Even if a 1099 is not generated (and I fully expect one to be generated).

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

Post by whodidntante » Fri Nov 01, 2019 9:09 pm

E*Trade has a new (as far as I know) deposit bonus offer. If not, consider this a bump.
https://us.etrade.com/what-we-offer/how ... /brokerage

$100 -- $5,000–$24,999
$200 -- $25,000–$99,999
$300 -- $100,000–$249,999
$600 -- $250,000–$499,999
$1,200 -- $500,000–$999,999
$2,500 -- $1,000,000+

kxl19
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by kxl19 » Fri Nov 01, 2019 11:25 pm

whodidntante wrote:
Fri Nov 01, 2019 9:09 pm
E*Trade has a new (as far as I know) deposit bonus offer. If not, consider this a bump.
https://us.etrade.com/what-we-offer/how ... /brokerage

$100 -- $5,000–$24,999
$200 -- $25,000–$99,999
$300 -- $100,000–$249,999
$600 -- $250,000–$499,999
$1,200 -- $500,000–$999,999
$2,500 -- $1,000,000+
FYI - when calling my local ETrade office, I was offered a $4k bonus for $1m transfer, with a 12 month holding time. The first $2,500 is offered immediately, with the rest to follow in 3-6 months. Might be locality dependent?

grp2c
Posts: 100
Joined: Sat Mar 08, 2014 5:51 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by grp2c » Fri Nov 01, 2019 11:26 pm

whodidntante wrote:
Fri Nov 01, 2019 9:09 pm
E*Trade has a new (as far as I know) deposit bonus offer. If not, consider this a bump.
https://us.etrade.com/what-we-offer/how ... /brokerage

$100 -- $5,000–$24,999
$200 -- $25,000–$99,999
$300 -- $100,000–$249,999
$600 -- $250,000–$499,999
$1,200 -- $500,000–$999,999
$2,500 -- $1,000,000+
Slightly better offer available if you call them. They transfer you to their local office who can plug in the offer once you open the account. Just transferred assets a week ago. They reimbursed close out fees from 2 separate brokerages too.

the way
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Joined: Sat Oct 26, 2019 6:00 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by the way » Sat Nov 02, 2019 4:27 am

grp2c wrote:
Fri Nov 01, 2019 11:26 pm
Slightly better offer available if you call them. They transfer you to their local office who can plug in the offer once you open the account. Just transferred assets a week ago. They reimbursed close out fees from 2 separate brokerages too.
What city or branch was this? Any idea what promo code they used? When I tried asking my local rep (over email), he claimed to not know of anything like this.

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

Post by yougotitdude » Sat Nov 02, 2019 8:04 am

For the td offer, if you elect gift cards, items or cash, are the taxes the same?

Like if you get $1,000 in items or gift cards, I'm assuming it's the same as the $1,000 cash reward?

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

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Sat Nov 02, 2019 9:21 am

yougotitdude wrote:
Sat Nov 02, 2019 8:04 am
For the td offer, if you elect gift cards, items or cash, are the taxes the same?

Like if you get $1,000 in items or gift cards, I'm assuming it's the same as the $1,000 cash reward?
It is the same

grp2c
Posts: 100
Joined: Sat Mar 08, 2014 5:51 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by grp2c » Sat Nov 02, 2019 2:57 pm

the way wrote:
Sat Nov 02, 2019 4:27 am
grp2c wrote:
Fri Nov 01, 2019 11:26 pm
Slightly better offer available if you call them. They transfer you to their local office who can plug in the offer once you open the account. Just transferred assets a week ago. They reimbursed close out fees from 2 separate brokerages too.
What city or branch was this? Any idea what promo code they used? When I tried asking my local rep (over email), he claimed to not know of anything like this.
It was the Costa Mesa branch. Not sure of the promo code they used. Sorry.

the way
Posts: 9
Joined: Sat Oct 26, 2019 6:00 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by the way » Sat Nov 02, 2019 7:39 pm

grp2c wrote:
Sat Nov 02, 2019 2:57 pm
the way wrote:
Sat Nov 02, 2019 4:27 am
grp2c wrote:
Fri Nov 01, 2019 11:26 pm
Slightly better offer available if you call them. They transfer you to their local office who can plug in the offer once you open the account. Just transferred assets a week ago. They reimbursed close out fees from 2 separate brokerages too.
What city or branch was this? Any idea what promo code they used? When I tried asking my local rep (over email), he claimed to not know of anything like this.
It was the Costa Mesa branch. Not sure of the promo code they used. Sorry.
ok. btw I'm guessing etrade and td will merge next year. we'll see

yougotitdude
Posts: 60
Joined: Fri Sep 15, 2017 12:40 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by yougotitdude » Mon Nov 04, 2019 8:21 pm

neilpilot wrote:
Sat Nov 02, 2019 9:21 am
yougotitdude wrote:
Sat Nov 02, 2019 8:04 am
For the td offer, if you elect gift cards, items or cash, are the taxes the same?

Like if you get $1,000 in items or gift cards, I'm assuming it's the same as the $1,000 cash reward?
It is the same
Thought so. Thanks!

tj
Posts: 2633
Joined: Thu Dec 24, 2009 12:10 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj » Mon Nov 04, 2019 10:19 pm

the way wrote:
Sat Nov 02, 2019 7:39 pm
grp2c wrote:
Sat Nov 02, 2019 2:57 pm
the way wrote:
Sat Nov 02, 2019 4:27 am
grp2c wrote:
Fri Nov 01, 2019 11:26 pm
Slightly better offer available if you call them. They transfer you to their local office who can plug in the offer once you open the account. Just transferred assets a week ago. They reimbursed close out fees from 2 separate brokerages too.
What city or branch was this? Any idea what promo code they used? When I tried asking my local rep (over email), he claimed to not know of anything like this.
It was the Costa Mesa branch. Not sure of the promo code they used. Sorry.
ok. btw I'm guessing etrade and td will merge next year. we'll see
Can they afford it? Scottrade wasn't cheap!

deltaneutral83
Posts: 1312
Joined: Tue Mar 07, 2017 4:25 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by deltaneutral83 » Thu Nov 07, 2019 9:49 am

On Schwab's referral program, can I transfer in in kind from another brokerage or does it have to be cash? Terms were a little murky.

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

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