The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by totoroto » Sat Nov 16, 2019 11:13 am

indexfundfan wrote:
Mon Nov 11, 2019 8:29 pm
seymore92 wrote:
Mon Nov 11, 2019 7:21 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.
I haven't been following brokerage bonuses much, so are these TDA bonuses (especially in the $2m & $5m levels of $6600 and $12700 respectively) some of the largest bonuses ever seen? It sounds almost too good to pass up.
Yes, this is one of the higher bonus offer. The most common bonus for $1m transfer was $2500.

I had some questions about the money market funds and was talking to a rep from the local office when he mentioned this offer. I have no idea if a rep is needed to code the offer into your account.
I don’t have an account at TD but am looking to take advantage of this since there’s a link above that will work through 12/6.

Since this is a new account do I need to contact a rep to get this coded correctly?

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

Post by BuddyJet » Sat Nov 16, 2019 9:24 pm

With all the TDA discussion, I thought I’d tell my experience.

About a year ago, I called in to sign up for a promo, was told account coded for promo, called when promo didn’t post, was told account not coded so no promo would be given and nothing can be done. Filed transfer paperwork to move account and was then offered retention bonus amount equal to promo I was originally offered.

For this tailgate promo, called to ask account be coded for promo and confirming email, no email received, called again and was told account was coded and would send email, two days later sent secure message asking that they confirm promo amount and account coding, received response describing promo but not account coding, responded asking for account coding confirm and was received.

The transfer hit tda Friday so I expect promo next week but lesson is to get confirmations in writing and keep log of phone conversations with times, names and numbers.

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

Post by GeraniumLover » Thu Nov 21, 2019 12:01 pm

Although not as generous as those for taxable accounts, TDAmeritrade is now giving bonuses of up to $2500 for retirement accounts:

https://www.tdameritrade.com/client/retirementplanning/

I spoke with Schwab and they also said they would give a $2500 bonus for transferring a $1.0mil+ IRA.

Given the news regarding Schwab acquiring TDAmeritrade, I suspect that soon neither will be offering bonuses for transfers from the other.

the way
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by the way » Thu Nov 21, 2019 7:20 pm

ETrade might actually increase bonuses to attract more accounts as window dressing to find a buyer themselves. otw they will be left out in the cold. (btw I predicted a merger a month ago.)

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

Post by indexfundfan » Thu Nov 21, 2019 7:52 pm

the way wrote:
Thu Nov 21, 2019 7:20 pm
ETrade might actually increase bonuses to attract more accounts as window dressing to find a buyer themselves. otw they will be left out in the cold. (btw I predicted a merger a month ago.)
I just received an email from Etrade today -- $3000 for $1m transfer.

Offer valid for one new E*TRADE Securities non-retirement brokerage account opened by 12/20/19 and funded within 60 days of account opening with $5,000 or more.

Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $1,000,000 or more will receive $3,000; $500,000-$999,999 will receive $1,500; $250,000-$499,999 will receive $1,000; $100,000-$249,999 will receive $500; $25,000-$99,999 will receive $200; $5,000-$24,999 will receive $100. Once account deposits reach $5,000, your account will receive $100 within 7 days. An account deposit or deposits totaling $1,000,000 or more will receive $3,000 within 7 days. At the end of the 60-day window, your account will be credited in the aggregate for new funds deposited or transferred into your new enrolled account within one week of the close of that window. So, for example, if you deposit $5,000 when you open your account, you will receive $100 within 7 days and if you have deposited a total of $25,000 at the end of the 60 day window from account opening, you will receive another $100 (for a total of $200). New funds or securities must: be deposited or transferred within 60 days of enrollment in offer, be from accounts outside of E*TRADE, and remain in the account (minus any trading losses) for a minimum of six months or the cash credit may be surrendered. Multiple deposits made to eligible accounts will be aggregated and will receive a credit on a pro-rata basis once the new account has been funded with at least $5,000.
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GeraniumLover
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover » Thu Nov 21, 2019 9:51 pm

indexfundfan wrote:
Thu Nov 21, 2019 7:52 pm
the way wrote:
Thu Nov 21, 2019 7:20 pm
ETrade might actually increase bonuses to attract more accounts as window dressing to find a buyer themselves. otw they will be left out in the cold. (btw I predicted a merger a month ago.)
I just received an email from Etrade today -- $3000 for $1m transfer.

Offer valid for one new E*TRADE Securities non-retirement brokerage account opened by 12/20/19 and funded within 60 days of account opening with $5,000 or more.

Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $1,000,000 or more will receive $3,000; $500,000-$999,999 will receive $1,500; $250,000-$499,999 will receive $1,000; $100,000-$249,999 will receive $500; $25,000-$99,999 will receive $200; $5,000-$24,999 will receive $100. Once account deposits reach $5,000, your account will receive $100 within 7 days. An account deposit or deposits totaling $1,000,000 or more will receive $3,000 within 7 days. At the end of the 60-day window, your account will be credited in the aggregate for new funds deposited or transferred into your new enrolled account within one week of the close of that window. So, for example, if you deposit $5,000 when you open your account, you will receive $100 within 7 days and if you have deposited a total of $25,000 at the end of the 60 day window from account opening, you will receive another $100 (for a total of $200). New funds or securities must: be deposited or transferred within 60 days of enrollment in offer, be from accounts outside of E*TRADE, and remain in the account (minus any trading losses) for a minimum of six months or the cash credit may be surrendered. Multiple deposits made to eligible accounts will be aggregated and will receive a credit on a pro-rata basis once the new account has been funded with at least $5,000.
Do you have a link to this offer you can post?

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

Post by indexfundfan » Thu Nov 21, 2019 10:48 pm

GeraniumLover wrote:
Thu Nov 21, 2019 9:51 pm
indexfundfan wrote:
Thu Nov 21, 2019 7:52 pm
the way wrote:
Thu Nov 21, 2019 7:20 pm
ETrade might actually increase bonuses to attract more accounts as window dressing to find a buyer themselves. otw they will be left out in the cold. (btw I predicted a merger a month ago.)
I just received an email from Etrade today -- $3000 for $1m transfer.

Offer valid for one new E*TRADE Securities non-retirement brokerage account opened by 12/20/19 and funded within 60 days of account opening with $5,000 or more.

Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $1,000,000 or more will receive $3,000; $500,000-$999,999 will receive $1,500; $250,000-$499,999 will receive $1,000; $100,000-$249,999 will receive $500; $25,000-$99,999 will receive $200; $5,000-$24,999 will receive $100. Once account deposits reach $5,000, your account will receive $100 within 7 days. An account deposit or deposits totaling $1,000,000 or more will receive $3,000 within 7 days. At the end of the 60-day window, your account will be credited in the aggregate for new funds deposited or transferred into your new enrolled account within one week of the close of that window. So, for example, if you deposit $5,000 when you open your account, you will receive $100 within 7 days and if you have deposited a total of $25,000 at the end of the 60 day window from account opening, you will receive another $100 (for a total of $200). New funds or securities must: be deposited or transferred within 60 days of enrollment in offer, be from accounts outside of E*TRADE, and remain in the account (minus any trading losses) for a minimum of six months or the cash credit may be surrendered. Multiple deposits made to eligible accounts will be aggregated and will receive a credit on a pro-rata basis once the new account has been funded with at least $5,000.
Do you have a link to this offer you can post?
There is no public link. I think this is a targeted offer. There is only an "Open Account" button that takes you directly to the account application page.
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placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Fri Nov 22, 2019 12:37 am

I received a similar etrade one for existing accounts "consolidation" which I need to get on and get dat bonus money.

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

Post by indexfundfan » Fri Nov 22, 2019 11:01 am

GeraniumLover wrote:
Thu Nov 21, 2019 12:01 pm
Although not as generous as those for taxable accounts, TDAmeritrade is now giving bonuses of up to $2500 for retirement accounts:

https://www.tdameritrade.com/client/retirementplanning/

I spoke with Schwab and they also said they would give a $2500 bonus for transferring a $1.0mil+ IRA.

Given the news regarding Schwab acquiring TDAmeritrade, I suspect that soon neither will be offering bonuses for transfers from the other.
Thank you for this. I intend to take advantage of this TDA offer.
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snowman
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Fri Nov 22, 2019 1:10 pm

GeraniumLover wrote:
Thu Nov 21, 2019 12:01 pm
Although not as generous as those for taxable accounts, TDAmeritrade is now giving bonuses of up to $2500 for retirement accounts:

https://www.tdameritrade.com/client/retirementplanning/

I spoke with Schwab and they also said they would give a $2500 bonus for transferring a $1.0mil+ IRA.

Given the news regarding Schwab acquiring TDAmeritrade, I suspect that soon neither will be offering bonuses for transfers from the other.
Thank you! Just completed account transfer request. It's probably the last TDA bonus I will ever see...

I was transferring funds into my existing retirement account, so I just logged in and completed the form in less than 5 minutes. The problem was there was no way to enter promo code (ROLLOVER). So I called, and was told that for existing accounts, the only way to get the promo code applied is to call and they do it manually on their end. If you are an existing client, but are opening new account, you should be able to complete the request online, without calling CS. Just wanted to share with you all so you know what to expect.

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

Post by CardinalRule » Sat Nov 23, 2019 1:40 pm

Thanks to all - I just submitted my online transfer request (Fido to TDA) for a Roth IRA (I'm trying to consolidate accounts accumulated over a lifetime of working, but the bonus is nice).

As I have an existing Roth IRA account for TDAmeritrade, good to know that I will need to call in to get the promo code applied.
snowman wrote:
Fri Nov 22, 2019 1:10 pm
GeraniumLover wrote:
Thu Nov 21, 2019 12:01 pm
Although not as generous as those for taxable accounts, TDAmeritrade is now giving bonuses of up to $2500 for retirement accounts:

https://www.tdameritrade.com/client/retirementplanning/
Thank you! Just completed account transfer request. It's probably the last TDA bonus I will ever see...

I was transferring funds into my existing retirement account, so I just logged in and completed the form in less than 5 minutes. The problem was there was no way to enter promo code (ROLLOVER). So I called, and was told that for existing accounts, the only way to get the promo code applied is to call and they do it manually on their end. If you are an existing client, but are opening new account, you should be able to complete the request online, without calling CS. Just wanted to share with you all so you know what to expect.

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

Post by placeholder » Mon Nov 25, 2019 12:56 pm

Received email that Schwab is buying TD Ameritrade so that might affect future bonuses since Schwab hasn't really been a player recently and if the new merged company stops that will shut off a reliable source.

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

Post by neilpilot » Mon Nov 25, 2019 12:57 pm

placeholder wrote:
Mon Nov 25, 2019 12:56 pm
Received email that Schwab is buying TD Ameritrade so that might affect future bonuses since Schwab hasn't really been a player recently and if the new merged company stops that will shut off a reliable source.
Maybe, but just last Friday a local Schwab rep offered to match a published Etrade offer....sometimes you just have to ask.

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

Post by TXWill » Wed Nov 27, 2019 12:35 pm

Monmouth Capital
Bonus of up to $5000 for 1M xfer

Bonuses begin with $250 for 10k

The qualifying deposit must contain funds outside of Monmouth Capital Management. Monmouth Capital Management will check your deposit 30 days after your account is opened to determine the total qualifying deposit. You will receive your cash bonus within 10 business days after this review.

Anyone have any experience with this company?

Thx

557880yvi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 557880yvi » Wed Nov 27, 2019 1:24 pm

TXWill wrote:
Wed Nov 27, 2019 12:35 pm
Monmouth Capital
Bonus of up to $5000 for 1M xfer

Bonuses begin with $250 for 10k

The qualifying deposit must contain funds outside of Monmouth Capital Management. Monmouth Capital Management will check your deposit 30 days after your account is opened to determine the total qualifying deposit. You will receive your cash bonus within 10 business days after this review.

Anyone have any experience with this company?

Thx
Never heard of it so googled - this the address on the website http://www.monmouthcm.com/

If you look up this address:

Monmouth Capital Management LLC
320 Broad St. Suite E
Red Bank, NJ 07701

on googlemaps and look at street view, not sure I would feel comfortable transferring a $1M+ account there. To be fair, they could be keeping their overhead low....

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

Post by MichDad » Wed Nov 27, 2019 2:11 pm

557880yvi wrote:
Wed Nov 27, 2019 1:24 pm
TXWill wrote:
Wed Nov 27, 2019 12:35 pm
Monmouth Capital
Bonus of up to $5000 for 1M xfer

Bonuses begin with $250 for 10k

The qualifying deposit must contain funds outside of Monmouth Capital Management. Monmouth Capital Management will check your deposit 30 days after your account is opened to determine the total qualifying deposit. You will receive your cash bonus within 10 business days after this review.

Anyone have any experience with this company?

Thx
Never heard of it so googled - this the address on the website http://www.monmouthcm.com/

If you look up this address:

Monmouth Capital Management LLC
320 Broad St. Suite E
Red Bank, NJ 07701

on googlemaps and look at street view, not sure I would feel comfortable transferring a $1M+ account there. To be fair, they could be keeping their overhead low....
I've been thinking about the adage, "If it sounds too good to be true, it probably is." I found this document on the SEC's EDGAR database. It didn't leave me feeling like I should provide this firm with my hard earned money.

https://www.sec.gov/Archives/edgar/vprr ... 008358.pdf

MichDad

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

Post by pre » Wed Nov 27, 2019 3:07 pm

Just to note, TDA's long standing offer of:
Offer valid for one new Individual, Joint or IRA TD Ameritrade account. To receive $100 bonus, account must be funded with $25,000-$49,999. To receive $200 bonus, account must be funded with $50,000-$99,999. To receive $500 bonus, account must be opened with $100,000-$249,999. To receive $1,000 bonus, account must be funded with $250,000 or more.
is still active. During the application process, just enter offer code 277. Or send me a PM and I'd be glad to provide a direct link via referral, as their old page promoting the offer seems to be down.

Image

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

Post by MichDad » Mon Dec 02, 2019 8:47 am

Can someone please provide information about the tax implications of transfer bonuses? In my case, this year, I've had money added by brokerage firms to a Roth IRA, a tIRA, and a taxable brokerage account. I'm retired and have no earned income this year.

Thank you,

MichDad

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

Post by indexfundfan » Mon Dec 02, 2019 8:53 am

MichDad wrote:
Mon Dec 02, 2019 8:47 am
Can someone please provide information about the tax implications of transfer bonuses? In my case, this year, I've had money added by brokerage firms to a Roth IRA, a tIRA, and a taxable brokerage account. I'm retired and have no earned income this year.

Thank you,

MichDad
It is taxable income if the bonus is credited to a taxable brokerage account (reported on 1099-MISC).

If credited to a Roth IRA or TIRA, there is generally no tax consequence (all brokerages I know of do not report it as income nor a contribution).

But of course, the bonus is taxable when withdrawn from a TIRA, just like any TIRA distribution.
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HomeStretch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by HomeStretch » Mon Dec 02, 2019 8:54 am

MichDad wrote:
Mon Dec 02, 2019 8:47 am
Can someone please provide information about the tax implications of transfer bonuses? In my case, this year, I've had money added by brokerage firms to a Roth IRA, a tIRA, and a taxable brokerage account. I'm retired and have no earned income this year.
The bonus received in the taxable brokerage account is taxable income for which you may receive a Form 1099.

seymore92
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by seymore92 » Mon Dec 02, 2019 11:40 am

indexfundfan wrote:
Mon Dec 02, 2019 8:53 am
MichDad wrote:
Mon Dec 02, 2019 8:47 am
Can someone please provide information about the tax implications of transfer bonuses? In my case, this year, I've had money added by brokerage firms to a Roth IRA, a tIRA, and a taxable brokerage account. I'm retired and have no earned income this year.

Thank you,

MichDad
It is taxable income if the bonus is credited to a taxable brokerage account (reported on 1099-MISC).

If credited to a Roth IRA or TIRA, there is generally no tax consequence (all brokerages I know of do not report it as income nor a contribution).

But of course, the bonus is taxable when withdrawn from a TIRA, just like any TIRA distribution.
TDA credited/reimbursed me the $95 termination fee charged by my outgoing brokerage when I transferred my taxable account to TDA. Is this $95 also taxable (and likely to be reported on the 1099)? If so, can I zero it out against the $95 charged by the outgoing brokerage?

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

Post by whodidntante » Wed Dec 04, 2019 10:44 pm

I thought I would revive Earl's old thread to post a pretty good offer for existing E*Trade customers.

$100,000 - $249,999 $500
$250,000 - $499,999 $1,000
$500,000 - $999,999 $1,500
$1,000,000 - $1,999,999 $2,500
$2,000,000+ $5,000

https://us.etrade.com/promo/5000cfc-combined

T&C indicates it might be targetted, so you might want to confirm. Must enroll in December.

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

Post by CoastalWinds » Wed Dec 04, 2019 11:16 pm

Does eTrade have any current offers for new customers?

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

Post by marathonfi » Thu Dec 05, 2019 11:38 am

Does anyone know how long the funds need to stay at Charles Schwab for the $500 bonus? I moved my Roth IRA from Vanguard to Schwab recently. I have heard it's 12 months, but I do not see it in the terms and conditions.

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