The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by seymore92 » Tue Dec 17, 2019 11:54 am

indexfundfan wrote:
Tue Dec 17, 2019 10:49 am
I recently used the promo code TDB1500 to transfer my IRAs to TDA (this is one of the few unexpired promos that works for IRA transfers). The local rep was able to successfully apply the promo code, even though I am not a TD Bank client. YMMV.

$10k : $50 bonus
$50k : $200 bonus
$100k : $500 bonus
$250k : $1000 bonus
$500k or more: $1500 bonus

https://www.tdameritrade.com/offer/tdba ... index.html
The language in the offer suggests this is automatically signing you up for TD Ameritrade Investment Management and
TD Ameritrade Investment Management, LLC, will assess an annual advisory fee of 0.30% based on the value of assets in your TD Ameritrade Investing Account. The fee will be assessed at the beginning of each quarter in advance for that quarter and will be prorated for accounts opened and closed during that quarter. TD Ameritrade, Inc. will not charge commissions for eligible securities trades placed in your TD Ameritrade Investing Account. All fees are subject to change.
Did you confirm you weren't enrolled in such a thing but still getting the offer? Just tried moving a Roth IRA there but concerned about wriggling out of this 0.30% fee and still retaining the offer.

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

Post by indexfundfan » Tue Dec 17, 2019 12:37 pm

seymore92 wrote:
Tue Dec 17, 2019 11:54 am
indexfundfan wrote:
Tue Dec 17, 2019 10:49 am
I recently used the promo code TDB1500 to transfer my IRAs to TDA (this is one of the few unexpired promos that works for IRA transfers). The local rep was able to successfully apply the promo code, even though I am not a TD Bank client. YMMV.

$10k : $50 bonus
$50k : $200 bonus
$100k : $500 bonus
$250k : $1000 bonus
$500k or more: $1500 bonus

https://www.tdameritrade.com/offer/tdba ... index.html
The language in the offer suggests this is automatically signing you up for TD Ameritrade Investment Management and
TD Ameritrade Investment Management, LLC, will assess an annual advisory fee of 0.30% based on the value of assets in your TD Ameritrade Investing Account. The fee will be assessed at the beginning of each quarter in advance for that quarter and will be prorated for accounts opened and closed during that quarter. TD Ameritrade, Inc. will not charge commissions for eligible securities trades placed in your TD Ameritrade Investing Account. All fees are subject to change.
Did you confirm you weren't enrolled in such a thing but still getting the offer? Just tried moving a Roth IRA there but concerned about wriggling out of this 0.30% fee and still retaining the offer.
The rep only applied the promo code for me. I think you would need to actively sign up for their "Managed Portfolios" to be charged their advisory fee.
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seymore92
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by seymore92 » Tue Dec 17, 2019 12:41 pm

indexfundfan wrote:
Tue Dec 17, 2019 12:37 pm
seymore92 wrote:
Tue Dec 17, 2019 11:54 am
indexfundfan wrote:
Tue Dec 17, 2019 10:49 am
I recently used the promo code TDB1500 to transfer my IRAs to TDA (this is one of the few unexpired promos that works for IRA transfers). The local rep was able to successfully apply the promo code, even though I am not a TD Bank client. YMMV.

$10k : $50 bonus
$50k : $200 bonus
$100k : $500 bonus
$250k : $1000 bonus
$500k or more: $1500 bonus

https://www.tdameritrade.com/offer/tdba ... index.html
The language in the offer suggests this is automatically signing you up for TD Ameritrade Investment Management and
TD Ameritrade Investment Management, LLC, will assess an annual advisory fee of 0.30% based on the value of assets in your TD Ameritrade Investing Account. The fee will be assessed at the beginning of each quarter in advance for that quarter and will be prorated for accounts opened and closed during that quarter. TD Ameritrade, Inc. will not charge commissions for eligible securities trades placed in your TD Ameritrade Investing Account. All fees are subject to change.
Did you confirm you weren't enrolled in such a thing but still getting the offer? Just tried moving a Roth IRA there but concerned about wriggling out of this 0.30% fee and still retaining the offer.
The rep only applied the promo code for me. I think you would need to actively sign up for their "Managed Portfolios" to be charged their advisory fee.
Ok. I hope so! The language was a little bit more specific than usual (emphasis added):
* Offer valid for one new Individual, Joint, IRA account or a new account managed by TD Ameritrade Investment Management, LLC.
and elsewhere in the terms
TD Ameritrade Investment Management, LLC, will assess an annual advisory fee of 0.30% based on the value of assets in your TD Ameritrade Investing Account.

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

Post by BuddyJet » Tue Dec 17, 2019 10:54 pm

I have a question about TDAmeritrade requirement to maintain balance for a year or they can deduct bonus.

I opened an account over a year ago and earned a bonus (deposit A). I recently added funds to the account to earn a new bonus (deposit B). Can I withdraw the funds from deposit A without jeopardizing the bonus of deposit B?

For the future, I will substantially drain the account before refill or open a new account rather than adding to existing to avoid the bonus clock reset issue.
People say nothing is impossible. I do nothing all day.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Tue Dec 17, 2019 11:22 pm

BuddyJet wrote:
Tue Dec 17, 2019 10:54 pm
I have a question about TDAmeritrade requirement to maintain balance for a year or they can deduct bonus.

I opened an account over a year ago and earned a bonus (deposit A). I recently added funds to the account to earn a new bonus (deposit B). Can I withdraw the funds from deposit A without jeopardizing the bonus of deposit B?

For the future, I will substantially drain the account before refill or open a new account rather than adding to existing to avoid the bonus clock reset issue.
I seriously doubt it.....can you even differentiate the funds?

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

Post by whodidntante » Fri Dec 20, 2019 5:15 pm

Just a note that my transfer to Tastyworks went without a hitch. No bonus yet, but it's too early to expect it also.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Fri Dec 20, 2019 6:00 pm

BuddyJet wrote:
Tue Dec 17, 2019 10:54 pm
I have a question about TDAmeritrade requirement to maintain balance for a year or they can deduct bonus.

I opened an account over a year ago and earned a bonus (deposit A). I recently added funds to the account to earn a new bonus (deposit B). Can I withdraw the funds from deposit A without jeopardizing the bonus of deposit B?

For the future, I will substantially drain the account before refill or open a new account rather than adding to existing to avoid the bonus clock reset issue.
Though I don't have direct experience doing this at TDA, I would guess if you closed/transferred the account that might trigger them looking at prior bonuses and the timing. I would also guess their system isn't programmed to make sure a certain bonus level balance is maintained for a year. This guess is based on being a customer of TDA and developing software for different investment companies and banks.

Last time I was going to transfer out (for another bonus) TDA matched the offer ($1200) and put no strings on it.

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

Post by BuddyJet » Fri Dec 20, 2019 8:55 pm

michaeljc70 wrote:
Fri Dec 20, 2019 6:00 pm
BuddyJet wrote:
Tue Dec 17, 2019 10:54 pm
I have a question about TDAmeritrade requirement to maintain balance for a year or they can deduct bonus.

I opened an account over a year ago and earned a bonus (deposit A). I recently added funds to the account to earn a new bonus (deposit B). Can I withdraw the funds from deposit A without jeopardizing the bonus of deposit B?

For the future, I will substantially drain the account before refill or open a new account rather than adding to existing to avoid the bonus clock reset issue.
Though I don't have direct experience doing this at TDA, I would guess if you closed/transferred the account that might trigger them looking at prior bonuses and the timing. I would also guess their system isn't programmed to make sure a certain bonus level balance is maintained for a year. This guess is based on being a customer of TDA and developing software for different investment companies and banks.

Last time I was going to transfer out (for another bonus) TDA matched the offer ($1200) and put no strings on it.
Thanks for the info.

I’ve decided to take this as a lesson learned, wait the full year from the recent bonus, and not risk a clawback.
People say nothing is impossible. I do nothing all day.

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Admiral Fun
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Admiral Fun » Thu Dec 26, 2019 1:06 pm

I have one joint account and one taxable account.

Typically, can I get two transfer bonuses or just one? Or does this differ between brokerages?

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

Post by neilpilot » Thu Dec 26, 2019 3:13 pm

Admiral Fun wrote:
Thu Dec 26, 2019 1:06 pm
I have one joint account and one taxable account.

Typically, can I get two transfer bonuses or just one? Or does this differ between brokerages?
Maybe it depends on the particular broker and offer. Back when we opened 5 new accounts at Scottrade, we collected a bonus on each of the 5 transfers.

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

Post by MichDad » Thu Dec 26, 2019 6:05 pm

Admiral Fun wrote:
Thu Dec 26, 2019 1:06 pm
I have one joint account and one taxable account.

Typically, can I get two transfer bonuses or just one? Or does this differ between brokerages?
My experience has been that so long as you have the minimum amounts of money in each account, you can collect separate transfer bonuses for each account. I always speak with a customer service representative, explain the situation, and get them to commit to the bonuses in a responsive email message. This way, there's no question about what was agreed to.

MichDad

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pj1983 » Thu Dec 26, 2019 6:46 pm

SlowMovingInvestor wrote:
Wed May 01, 2019 9:58 am
pre wrote:
Tue Apr 30, 2019 9:02 pm
Hopefully this $1k+ bonus will be a reoccurring offer, as the terms mention one brokerage bonus a year.
That solves the issue of whether I should try for this bonus, since I already signed up for the Sapphire 60K bonus this year.
Does anyone know (or can point me to appropriate Chase docs) how Chase tracks the yearly bonus limits? My wife sees the $1k Sapphire offer on her page when she logs into Chase, and I have a $625 YouInvest bonus on my page. We're "linked" through existing joint Chase credit cards and a checking account, but I'd like to grab both bonuses if we can.

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

Post by JustinR » Sun Dec 29, 2019 10:04 am

Which brokerages have transfer fee reimbursement programs?

I know of these so far:

TD Ameritrade - $10,000 min (part of specific promotions)
Chase You Invest - $50,000 min
Ally Invest - $2,500 minimum
Etrade - No reimbursements usually but "sometimes. Try asking for it. if you have enough $$ with them, they'll do it."
Merrill Edge - Yes?
Schwab - Yes?
Last edited by JustinR on Mon Dec 30, 2019 5:03 am, edited 1 time in total.

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

Post by SlowMovingInvestor » Sun Dec 29, 2019 1:22 pm

Etrade does reimburse transfer fees sometimes. Try asking for it. if you have enough $$ with them, they'll do it.

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

Post by snowman » Sun Dec 29, 2019 4:26 pm

Schwab and Merrill will also reimburse you.

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

Post by whodidntante » Sun Jan 05, 2020 1:56 pm

Continuing on my sub-thread of bonuses at weird brokerages, M1 has announced a brokerage transfer bonus. It's the first one that I know about at M1. M1 is not a typical broker, and you'll need to invest in "pies" of stocks/ETFs there but they can be pies that you define. So I wouldn't recommend accepting this offer unless you find their platform appealing and have a specific use in mind.

https://support.m1finance.com/hc/en-us/ ... up-to-2500

michaeljc70
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Sun Jan 05, 2020 4:17 pm

whodidntante wrote:
Sun Jan 05, 2020 1:56 pm
Continuing on my sub-thread of bonuses at weird brokerages, M1 has announced a brokerage transfer bonus. It's the first one that I know about at M1. M1 is not a typical broker, and you'll need to invest in "pies" of stocks/ETFs there but they can be pies that you define. So I wouldn't recommend accepting this offer unless you find their platform appealing and have a specific use in mind.

https://support.m1finance.com/hc/en-us/ ... up-to-2500
I don't readily see what the pie "slices" are. Can I pick the ETF for each slice or am I stuck with certain funds (can I simply use BND, VTI, VXUS)? I do not care if those aren't options - I don't care about "brands" but I do care about fees and composition.

The borrowing option is interesting. 3.5%. It is not something I have done for years, but as a short-term option that is a good rate.

There seems to be trading windows were trades are executed and I wonder if you are getting a bad execution price. I typically don't trade except to rebalance annually so probably not super important for me.

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

Post by whodidntante » Sun Jan 05, 2020 4:51 pm

michaeljc70 wrote:
Sun Jan 05, 2020 4:17 pm
whodidntante wrote:
Sun Jan 05, 2020 1:56 pm
Continuing on my sub-thread of bonuses at weird brokerages, M1 has announced a brokerage transfer bonus. It's the first one that I know about at M1. M1 is not a typical broker, and you'll need to invest in "pies" of stocks/ETFs there but they can be pies that you define. So I wouldn't recommend accepting this offer unless you find their platform appealing and have a specific use in mind.

https://support.m1finance.com/hc/en-us/ ... up-to-2500
I don't readily see what the pie "slices" are. Can I pick the ETF for each slice or am I stuck with certain funds (can I simply use BND, VTI, VXUS)? I do not care if those aren't options - I don't care about "brands" but I do care about fees and composition.

The borrowing option is interesting. 3.5%. It is not something I have done for years, but as a short-term option that is a good rate.

There seems to be trading windows were trades are executed and I wonder if you are getting a bad execution price. I typically don't trade except to rebalance annually so probably not super important for me.
I believe this video answers your question. Full disclaimer: I don't have an account at M1 and I do not currently plan to open one.

https://m.youtube.com/watch?t=2s&v=hCWDGw6O8ns

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

Post by tj » Sun Jan 05, 2020 5:37 pm

michaeljc70 wrote:
Sun Jan 05, 2020 4:17 pm
whodidntante wrote:
Sun Jan 05, 2020 1:56 pm
Continuing on my sub-thread of bonuses at weird brokerages, M1 has announced a brokerage transfer bonus. It's the first one that I know about at M1. M1 is not a typical broker, and you'll need to invest in "pies" of stocks/ETFs there but they can be pies that you define. So I wouldn't recommend accepting this offer unless you find their platform appealing and have a specific use in mind.

https://support.m1finance.com/hc/en-us/ ... up-to-2500
I don't readily see what the pie "slices" are. Can I pick the ETF for each slice or am I stuck with certain funds (can I simply use BND, VTI, VXUS)? I do not care if those aren't options - I don't care about "brands" but I do care about fees and composition.

The borrowing option is interesting. 3.5%. It is not something I have done for years, but as a short-term option that is a good rate.

There seems to be trading windows were trades are executed and I wonder if you are getting a bad execution price. I typically don't trade except to rebalance annually so probably not super important for me.

You can use whatever stock or ETF you want in whatever percentage you want.

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Admiral Fun
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Admiral Fun » Mon Jan 06, 2020 9:07 pm

I have a Merrill Edge IRA with a closure fee of around $50. I have all ETFs, no cash. Will Merrill sell a share to collect the fee? If not, how do they collect?

Edit: also curious about how other brokerages handle this situation.

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

Post by GeraniumLover » Tue Jan 07, 2020 10:20 am

Admiral Fun wrote:
Mon Jan 06, 2020 9:07 pm
I have a Merrill Edge IRA with a closure fee of around $50. I have all ETFs, no cash. Will Merrill sell a share to collect the fee? If not, how do they collect?

Edit: also curious about how other brokerages handle this situation.
I have had E*Trade refuse to transfer assets because there was not sufficient cash in the account to pay their closing fee

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by totoroto » Tue Jan 07, 2020 10:28 am

Admiral Fun wrote:
Mon Jan 06, 2020 9:07 pm
I have a Merrill Edge IRA with a closure fee of around $50. I have all ETFs, no cash. Will Merrill sell a share to collect the fee? If not, how do they collect?

Edit: also curious about how other brokerages handle this situation.
I recently had an account transfer from Merrill Edge to TDAmeritrade. Merrill Edge indeed charged $49.95 account closure fee. I had no cash in the account, so what ended up happening is that the negative balance got transferred to TD Ameritrade where I did have cash, so my cash balance went down by $49.95. TDAmeritrade was able to credit the fee after a quick call.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by veggivet » Tue Jan 07, 2020 10:47 am

TDA also reimbursed a $75 account closure fee that was imposed by Fidelity without me needing to prompt or contact them. Also, bonuses were credited within 7 days :happy
If you watch your pennies, your dollars will take care of themselves.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Tue Jan 07, 2020 11:12 am

Admiral Fun wrote:
Mon Jan 06, 2020 9:07 pm
I have a Merrill Edge IRA with a closure fee of around $50. I have all ETFs, no cash. Will Merrill sell a share to collect the fee? If not, how do they collect?

Edit: also curious about how other brokerages handle this situation.
You have couple different options to avoid any fees. The easiest one is to do a partial transfer out, there is no fee for that (unless it changed very recently). You transfer all ETFs and leave a dollar or just a few cents in cash at ME.

Second option depends on where you move it to. If TDA, for example, you can choose to do full transfer and close the account, and TDA will reimburse you (you have to call TDA for that). What I am saying is that you need to check with the new broker whether they reimburse account transfer fees or not. If not, go with option one. If yes, your choice.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by worthit » Tue Jan 07, 2020 11:25 am

snowman wrote:
Tue Jan 07, 2020 11:12 am
Admiral Fun wrote:
Mon Jan 06, 2020 9:07 pm
I have a Merrill Edge IRA with a closure fee of around $50. I have all ETFs, no cash. Will Merrill sell a share to collect the fee? If not, how do they collect?

Edit: also curious about how other brokerages handle this situation.
You have couple different options to avoid any fees. The easiest one is to do a partial transfer out, there is no fee for that (unless it changed very recently). You transfer all ETFs and leave a dollar or just a few cents in cash at ME.

Second option depends on where you move it to. If TDA, for example, you can choose to do full transfer and close the account, and TDA will reimburse you (you have to call TDA for that). What I am saying is that you need to check with the new broker whether they reimburse account transfer fees or not. If not, go with option one. If yes, your choice.
I just did a partial transfer recently (leaving behind some ETFs) from ME to TDA and didn't get charged any fees. I also called them (ME) to confirm this to make sure there were no surprises.

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[Deleted]

Post by hdas » Tue Jan 07, 2020 10:34 pm

[Deleted]
Last edited by hdas on Wed Jan 29, 2020 9:47 pm, edited 1 time in total.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 » Wed Jan 08, 2020 2:52 am

hdas wrote:
Tue Jan 07, 2020 10:34 pm
Schwab $200K, $1000 Bonus
How did you get that offer?

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Post by hdas » Wed Jan 08, 2020 7:40 pm

[Deleted]
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Post by hdas » Wed Jan 08, 2020 7:47 pm

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

Post by whodidntante » Wed Jan 08, 2020 7:55 pm

The E*Trade offer is calling my name. Time to give Chase the bad news.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Wed Jan 08, 2020 7:57 pm

hdas wrote:
Tue Jan 07, 2020 10:34 pm
Hi All,

Playin the game this year, out of Vanguard into:

Merrill $200K, $900 Bonus
Schwab $200K, $1000 Bonus

Will call TDA and eTrade to see if I can get something better than the current $300 for $100K.

Cheers :greedy
E*Trade has $500 for 100k for existing customers.

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

Post by seymore92 » Wed Jan 08, 2020 9:18 pm

hdas wrote:
Wed Jan 08, 2020 7:47 pm
seymore92 wrote:
Tue Dec 17, 2019 12:41 pm
indexfundfan wrote:
Tue Dec 17, 2019 12:37 pm
seymore92 wrote:
Tue Dec 17, 2019 11:54 am
indexfundfan wrote:
Tue Dec 17, 2019 10:49 am
I recently used the promo code TDB1500 to transfer my IRAs to TDA (this is one of the few unexpired promos that works for IRA transfers). The local rep was able to successfully apply the promo code, even though I am not a TD Bank client. YMMV.

$10k : $50 bonus
$50k : $200 bonus
$100k : $500 bonus
$250k : $1000 bonus
$500k or more: $1500 bonus

https://www.tdameritrade.com/offer/tdba ... index.html
The language in the offer suggests this is automatically signing you up for TD Ameritrade Investment Management and
TD Ameritrade Investment Management, LLC, will assess an annual advisory fee of 0.30% based on the value of assets in your TD Ameritrade Investing Account. The fee will be assessed at the beginning of each quarter in advance for that quarter and will be prorated for accounts opened and closed during that quarter. TD Ameritrade, Inc. will not charge commissions for eligible securities trades placed in your TD Ameritrade Investing Account. All fees are subject to change.
Did you confirm you weren't enrolled in such a thing but still getting the offer? Just tried moving a Roth IRA there but concerned about wriggling out of this 0.30% fee and still retaining the offer.
The rep only applied the promo code for me. I think you would need to actively sign up for their "Managed Portfolios" to be charged their advisory fee.
Ok. I hope so! The language was a little bit more specific than usual (emphasis added):
* Offer valid for one new Individual, Joint, IRA account or a new account managed by TD Ameritrade Investment Management, LLC.
and elsewhere in the terms
TD Ameritrade Investment Management, LLC, will assess an annual advisory fee of 0.30% based on the value of assets in your TD Ameritrade Investing Account.
Did u go for the bonus?.....can you confirm that the 0.3% fee and TDA Management is not an issue?
Yes I did on several accounts. It is not an issue! I also emailed them to confirm it isn't an issue and they agreed I'm not signed up for it by going through that link.

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

Post by sarabayo » Thu Jan 09, 2020 2:43 am

I took the plunge and signed up for an account at Merrill Edge so I could get the $1000 bonus they were offering. Now I have to transfer $200k of VTSAX from my Vanguard taxable account in the next 45 days, but I have a couple of dumb questions since this is my first time transferring securities in-kind from one brokerage to another.
  • I guess that most people who do brokerage transfers tend to be using ETFs. I'd prefer to stay with my mutual fund (VTSAX) shares instead of converting to VTI, but is there any particular issue with doing this, or any gotchas I should look out for?
  • When you request a partial transfer into a new account, is there any way to choose specific tax lots you want to transfer over, or does Vanguard just make some decision on which ones to move over? The transfer form on the Merrill Edge website seems to only allow me to specify a number of shares to transfer. Do different brokerages offer different options in this regard?
  • If the number of shares I request to transfer doesn't divide cleanly across my tax lots, will one of my tax lots end up being split? Is that something that can happen, and if so what are the consequences of having two different tax lots that were actually part of the same original purchase transaction? :confused
  • Just to be safe, I'm guessing I should take screenshots of my Vanguard account before requesting the transfer, so that I can check that everything matches up on Merrill Edge's end when it gets there. I've taken a screenshot of the Cost Basis page with the "Details" tab expanded (so the table of all the tax lots is showing), but is there anything else I'm forgetting that I should take a screenshot of?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover » Thu Jan 09, 2020 8:33 am

sarabayo wrote:
Thu Jan 09, 2020 2:43 am
I took the plunge and signed up for an account at Merrill Edge so I could get the $1000 bonus they were offering. Now I have to transfer $200k of VTSAX from my Vanguard taxable account in the next 45 days, but I have a couple of dumb questions since this is my first time transferring securities in-kind from one brokerage to another.
  • When you request a partial transfer into a new account, is there any way to choose specific tax lots you want to transfer over, or does Vanguard just make some decision on which ones to move over? The transfer form on the Merrill Edge website seems to only allow me to specify a number of shares to transfer. Do different brokerages offer different options in this regard?
If you want to transfer specifically identified shares, the only way I know of to guarantee that is to first move the shares you want to transfer to a new Vanguard account, then transfer that account to Merrill Edge. That should also address your concern about splitting lots.

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

Post by GeraniumLover » Fri Jan 10, 2020 6:20 pm

I just received this email offer from E*Trade: Come back! Get up to $3,000 when you open a new E*TRADE account.

Details:

Offer valid for one new E*TRADE Securities retirement accounts and excludes E*TRADE Securities brokerage, E*TRADE Futures, E*TRADE Bank, and E*TRADE Savings Bank accounts. Other restrictions may apply.

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.

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

Post by pre » Fri Jan 10, 2020 6:53 pm

GeraniumLover wrote:
Fri Jan 10, 2020 6:20 pm
I just received this email offer from E*Trade: Come back! Get up to $3,000 when you open a new E*TRADE account.

Details:

Offer valid for one new E*TRADE Securities retirement accounts and excludes E*TRADE Securities brokerage, E*TRADE Futures, E*TRADE Bank, and E*TRADE Savings Bank accounts. Other restrictions may apply.

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.
Nice -- had you previously transferred out of ETrade? How long ago was that?

Any existing accounts with them?

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

Post by GeraniumLover » Sat Jan 11, 2020 8:28 am

pre wrote:
Fri Jan 10, 2020 6:53 pm

Nice -- had you previously transferred out of ETrade? How long ago was that?

Any existing accounts with them?
Yes, I transferred out in early December. No remaining accounts.

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

Post by whodidntante » Thu Jan 16, 2020 7:19 pm

doctorofcredit.com just posted a summary of current bonuses. I guess Will is unconcerned about the final, definitive status of this thread. :happy
https://www.doctorofcredit.com/best-bro ... p-to-3500/

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

Post by SlowMovingInvestor » Sat Jan 18, 2020 6:47 pm

Merrill Edge bonus

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

For purposes of this offer, qualifying net new assets are calculated by adding total incoming assets or transfers (including cash, securities and/or margin debit balance transfers) from external accounts, and subtracting assets withdrawn or transferred out of the account within the preceding 24 weeks.

Not sure how much that is enforced ….

michaeljc70
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Sat Jan 18, 2020 6:54 pm

SlowMovingInvestor wrote:
Sat Jan 18, 2020 6:47 pm
Merrill Edge bonus

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

For purposes of this offer, qualifying net new assets are calculated by adding total incoming assets or transfers (including cash, securities and/or margin debit balance transfers) from external accounts, and subtracting assets withdrawn or transferred out of the account within the preceding 24 weeks.

Not sure how much that is enforced ….
Thanks. I've never been at Merrill. I might move $200k for $900. I was hoping to get more ($1200-$1500), but I think I might move $200k and leave the rest of my IRA to transfer elsewhere for another bonus. I've never done that before as I really hate to have 2 IRAs. Long ago I simplified and have 1 brokerage account of each account type (taxable, tIRA, Roth, HSA). If I move $200k I'd still have a chunk for another offer though. I wish eTrade would stop excluding IRAs from their offers.

Edit: It seems this (like many prior offers) requires opening another BOA account. Is that correct?

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

Post by SlowMovingInvestor » Sat Jan 18, 2020 7:42 pm

michaeljc70 wrote:
Sat Jan 18, 2020 6:54 pm

Thanks. I've never been at Merrill. I might move $200k for $900. I was hoping to get more ($1200-$1500), but I think I might move $200k and leave the rest of my IRA to transfer elsewhere for another bonus. I've never done that before as I really hate to have 2 IRAs. Long ago I simplified and have 1 brokerage account of each account type (taxable, tIRA, Roth, HSA). If I move $200k I'd still have a chunk for another offer though. I wish eTrade would stop excluding IRAs from their offers.

Edit: It seems this (like many prior offers) requires opening another BOA account. Is that correct?
Yes, I believe you need to register for Premium Rewards

ADDED: I forgot to add that if you're not already a BoA customer, you can get small bonuses for opening an account. Maybe $100 or so, to add to your ME bonus.

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

Post by whodidntante » Sun Jan 19, 2020 11:50 am

My $250 bonus for TastyWorks posted without fanfare. Did anyone else get in on it?

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

Post by pre » Sun Jan 19, 2020 1:41 pm

whodidntante wrote:
Sun Jan 19, 2020 11:50 am
My $250 bonus for TastyWorks posted without fanfare. Did anyone else get in on it?
May I ask when your assets transferred over? My ACATS was initiated (forms submitted) just before Christmas, and finally appeared in my account on January 7th.

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

Post by whodidntante » Sun Jan 19, 2020 1:47 pm

pre wrote:
Sun Jan 19, 2020 1:41 pm
whodidntante wrote:
Sun Jan 19, 2020 11:50 am
My $250 bonus for TastyWorks posted without fanfare. Did anyone else get in on it?
May I ask when your assets transferred over? My ACATS was initiated (forms submitted) just before Christmas, and finally appeared in my account on January 7th.
ACATS completed 19 December. Bonus posted 17 January.

Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 » Tue Jan 28, 2020 6:50 am

I saw an offer of a $5000 bonus for a $750,000 deposit at PNC (Bank) Brokerage. What’s the catch?

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

Post by SlowMovingInvestor » Tue Jan 28, 2020 7:25 am

Leesbro63 wrote:
Tue Jan 28, 2020 6:50 am
I saw an offer of a $5000 bonus for a $750,000 deposit at PNC (Bank) Brokerage. What’s the catch?
Must be for a managed account, i.e. you have to sign up and pay an advisory fee.

sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 » Tue Jan 28, 2020 7:28 am

SlowMovingInvestor wrote:
Tue Jan 28, 2020 7:25 am
Leesbro63 wrote:
Tue Jan 28, 2020 6:50 am
I saw an offer of a $5000 bonus for a $750,000 deposit at PNC (Bank) Brokerage. What’s the catch?
Must be for a managed account, i.e. you have to sign up and pay an advisory fee.
May be tad bit late, this promotion appears to be over, unless opened already !?

Thought it was over at the end of last year (12/31/2019). Also, Availability only in states with its branches: OH, MI, FL, AL, GA, MD, KY, IN, PA .. correct !?

You may be better off with Chase's latest offers:
Chase Sapphire Checking (linked brokerage allowed) $1,000 Cash <-- deposit and maintain net-new/average-deposits of $75K for only 90 days.
Chase Private Client $2,000 Cash <-- deposit and maintain net-new/average-deposits for $250K of only 90 days (how about one acct for you, one account for your spouse ; double the fun :-) )
Last edited by sc9182 on Tue Jan 28, 2020 7:46 am, edited 1 time in total.

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

Post by SlowMovingInvestor » Tue Jan 28, 2020 7:35 am

I verified, and the PNC bonus was/is indeed for a managed account, with a fee over 1%, indeed likely over 1.5%

Not worth it ! Unlike Chase Private Client, I'm guessing you can't do a self managed account. And you likely don't want their portfolios either.

Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 » Tue Jan 28, 2020 8:07 am

SlowMovingInvestor wrote:
Tue Jan 28, 2020 7:35 am
I verified, and the PNC bonus was/is indeed for a managed account, with a fee over 1%, indeed likely over 1.5%

Not worth it ! Unlike Chase Private Client, I'm guessing you can't do a self managed account. And you likely don't want their portfolios either.
I knew there was a catch. Thank you for sniffing this out.

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

Post by SlowMovingInvestor » Tue Jan 28, 2020 8:36 am

Leesbro63 wrote:
Tue Jan 28, 2020 8:07 am
SlowMovingInvestor wrote:
Tue Jan 28, 2020 7:35 am
I verified, and the PNC bonus was/is indeed for a managed account, with a fee over 1%, indeed likely over 1.5%

Not worth it ! Unlike Chase Private Client, I'm guessing you can't do a self managed account. And you likely don't want their portfolios either.
I knew there was a catch. Thank you for sniffing this out.
They do have this

https://www.pnc.com/en/personal-banking ... tions.html

It looks like a self managed portfolio, so possibly one could have moved to PNC and signed up for this. However, the bonus isn't available any more and in any case, if PNC was paying out way above market rates for bonuses, I am guessing they would have been very reluctant (justifiably so) to let you opt for a self managed portfolio.

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