The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by neilpilot » Thu Jun 18, 2020 9:18 am

SlowMovingInvestor wrote:
Tue Jun 16, 2020 4:53 pm

I haven't seen anything about a clawback period in this offer, but I was going by the rather odd phrasing when they are talking about lookback period for 26/52 weeks. If one is opening a new account, then I'm not sure how you can have a lookback period on that account, unless they're talking about all assets held at ME. Or unless they say the offer applies to existing accounts as well. Of course, a clawback period for the past doesn't say anything about a holding period -- so I may be confabulating 2 separate ideas.

I do recollect that they have had holding periods in the past 90 days for the $600 offer, 180 days for the $900 offer.
A while back I moved a portion of 2 of our 5 accounts at TDA to ME, and collected a $2k offer after the 90 day holding period. When I made the move, it was to evaluate moving all of our holdings later that year.

We were extremely unhappy with ME's failure to provide customer service and decided to move all of the assets back to TDA at the end of the 90 day period. That was done with no push back or "clawback" from ME.

MikeG62
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Thu Jun 18, 2020 9:29 am

neilpilot wrote:
Thu Jun 18, 2020 9:18 am
SlowMovingInvestor wrote:
Tue Jun 16, 2020 4:53 pm

I haven't seen anything about a clawback period in this offer, but I was going by the rather odd phrasing when they are talking about lookback period for 26/52 weeks. If one is opening a new account, then I'm not sure how you can have a lookback period on that account, unless they're talking about all assets held at ME. Or unless they say the offer applies to existing accounts as well. Of course, a clawback period for the past doesn't say anything about a holding period -- so I may be confabulating 2 separate ideas.

I do recollect that they have had holding periods in the past 90 days for the $600 offer, 180 days for the $900 offer.
A while back I moved a portion of 2 of our 5 accounts at TDA to ME, and collected a $2k offer after the 90 day holding period. When I made the move, it was to evaluate moving all of our holdings later that year.

We were extremely unhappy with ME's failure to provide customer service and decided to move all of the assets back to TDA at the end of the 90 day period. That was done with no push back or "clawback" from ME.
Just curious as to what customer service you were after that they were not able to deliver?

I've been quite pleased with Merrill Edge in that I transferred in securities for the transfer bonuses (2 x $900) and they never bothered me once since. Exactly what I was looking for.

Those funds are now going to be moved to JMP/Chase for their $2,000 transfer bonus. It is already clear that JPM/Chase does not want to be as hands off as Merrill Edge. However, after some back and forth, I think I finally have them where I want them - don't call me I'll call you. Still think they will have trouble restraining themselves, but I've made it abundantly clear and they have agreed (including in e-mail responses) to leave me alone.
Real Knowledge Comes Only From Experience

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

Post by neilpilot » Thu Jun 18, 2020 9:45 am

MikeG62 wrote:
Thu Jun 18, 2020 9:29 am
Just curious as to what customer service you were after that they were not able to deliver?

I've been quite pleased with Merrill Edge in that I transferred in securities for the transfer bonuses (2 x $900) and they never bothered me once since. Exactly what I was looking for.

Those funds are now going to be moved to JMP/Chase for their $2,000 transfer bonus. It is already clear that JPM/Chase does not want to be as hands off as Merrill Edge. However, after some back and forth, I think I finally have them where I want them - don't call me I'll call you. Still think they will have trouble restraining themselves, but I've made it abundantly clear and they have agreed (including in e-mail responses) to leave me alone.
[/quote]
viewtopic.php?f=1&t=278442&p=4487408&hi ... k#p4487408

MikeG62
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Thu Jun 18, 2020 11:43 am

neilpilot wrote:
Thu Jun 18, 2020 9:45 am
MikeG62 wrote:
Thu Jun 18, 2020 9:29 am

Just curious as to what customer service you were after that they were not able to deliver?

I've been quite pleased with Merrill Edge in that I transferred in securities for the transfer bonuses (2 x $900) and they never bothered me once since. Exactly what I was looking for.

Those funds are now going to be moved to JMP/Chase for their $2,000 transfer bonus. It is already clear that JPM/Chase does not want to be as hands off as Merrill Edge. However, after some back and forth, I think I finally have them where I want them - don't call me I'll call you. Still think they will have trouble restraining themselves, but I've made it abundantly clear and they have agreed (including in e-mail responses) to leave me alone.
viewtopic.php?f=1&t=278442&p=4487408&hi ... k#p4487408
Read on our experience. It is true, there is no obvious way to link an external account at Merrill Edge. Not even going to try after reading about your saga.
Real Knowledge Comes Only From Experience

02nz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz » Thu Jun 18, 2020 12:31 pm

MikeG62 wrote:
Thu Jun 18, 2020 11:43 am
It is true, there is no obvious way to link an external account at Merrill Edge.
But to get the higher bonus you need Preferred Rewards, and that means you need a BoA checking account. You can link external account to the checking account (should show up under the same login); once the money is in the BoA account, transfers to ME should be instantaneous.

ETA: Even within ME it's possible to link an external account online: under the Accounts tab, click Transfer Money & Securities, then under the Cash tab, there's an Add Account function.

MikeG62
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Thu Jun 18, 2020 12:53 pm

02nz wrote:
Thu Jun 18, 2020 12:31 pm
MikeG62 wrote:
Thu Jun 18, 2020 11:43 am
It is true, there is no obvious way to link an external account at Merrill Edge.
But to get the higher bonus you need Preferred Rewards, and that means you need a BoA checking account. You can link external account to the checking account (should show up under the same login); once the money is in the BoA account, transfers to ME should be instantaneous.

ETA: Even within ME it's possible to link an external account online: under the Accounts tab, click Transfer Money & Securities, then under the Cash tab, there's an Add Account function.
Yes that is true - can link through BofA.

You are correct, I now see the ability to link an account where you indicate. I was trying to do it through the link external account tab and could not find a way to add an account in that area. It appears that tab is only for linking Merrill Edge and BofA accounts.
Real Knowledge Comes Only From Experience

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

Post by neilpilot » Thu Jun 18, 2020 12:58 pm

MikeG62 wrote:
Thu Jun 18, 2020 11:43 am
neilpilot wrote:
Thu Jun 18, 2020 9:45 am
MikeG62 wrote:
Thu Jun 18, 2020 9:29 am

Just curious as to what customer service you were after that they were not able to deliver?

I've been quite pleased with Merrill Edge in that I transferred in securities for the transfer bonuses (2 x $900) and they never bothered me once since. Exactly what I was looking for.

Those funds are now going to be moved to JMP/Chase for their $2,000 transfer bonus. It is already clear that JPM/Chase does not want to be as hands off as Merrill Edge. However, after some back and forth, I think I finally have them where I want them - don't call me I'll call you. Still think they will have trouble restraining themselves, but I've made it abundantly clear and they have agreed (including in e-mail responses) to leave me alone.
viewtopic.php?f=1&t=278442&p=4487408&hi ... k#p4487408
Read on our experience. It is true, there is no obvious way to link an external account at Merrill Edge. Not even going to try after reading about your saga.
Actually I wasn't trying to link an external (to ME) account, if that's what you mean by "external". Before I opened the 2 accounts (one in my name, the other in my spouse's) I asked the local BoA/ME rep who handled the account setup if I could link the 2 in one online login and he said "yes, no problem". He obviously lied. I wouldn't have opened the accounts if I had know it wasn't possible.

But that was only the start of our problems. We had many (a dozen) calls in our attempt to solve the issue. In all that time no one at ME said it couldn't be done but it still never happened. The last call they initiated, to my spouse, was so inept and frustrating that she was in tears at the end.

BTW I was able, with ease, to set up all 5 accounts on a single login with TDA, as well as with their predecessor Scottrade. So it's not like I was asking for something that was impossible in the industry.

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

Post by tj » Thu Jun 18, 2020 2:20 pm

MikeG62 wrote:
Thu Jun 18, 2020 11:43 am
neilpilot wrote:
Thu Jun 18, 2020 9:45 am
MikeG62 wrote:
Thu Jun 18, 2020 9:29 am

Just curious as to what customer service you were after that they were not able to deliver?

I've been quite pleased with Merrill Edge in that I transferred in securities for the transfer bonuses (2 x $900) and they never bothered me once since. Exactly what I was looking for.

Those funds are now going to be moved to JMP/Chase for their $2,000 transfer bonus. It is already clear that JPM/Chase does not want to be as hands off as Merrill Edge. However, after some back and forth, I think I finally have them where I want them - don't call me I'll call you. Still think they will have trouble restraining themselves, but I've made it abundantly clear and they have agreed (including in e-mail responses) to leave me alone.
viewtopic.php?f=1&t=278442&p=4487408&hi ... k#p4487408
Read on our experience. It is true, there is no obvious way to link an external account at Merrill Edge. Not even going to try after reading about your saga.
That's weird, I had no problems linking accounts at Merrill Edge. I don't know how to transfer in from an external, but I've never needed to.

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

Post by tj » Thu Jun 18, 2020 2:21 pm

neilpilot wrote:
Thu Jun 18, 2020 12:58 pm
MikeG62 wrote:
Thu Jun 18, 2020 11:43 am
neilpilot wrote:
Thu Jun 18, 2020 9:45 am
MikeG62 wrote:
Thu Jun 18, 2020 9:29 am

Just curious as to what customer service you were after that they were not able to deliver?

I've been quite pleased with Merrill Edge in that I transferred in securities for the transfer bonuses (2 x $900) and they never bothered me once since. Exactly what I was looking for.

Those funds are now going to be moved to JMP/Chase for their $2,000 transfer bonus. It is already clear that JPM/Chase does not want to be as hands off as Merrill Edge. However, after some back and forth, I think I finally have them where I want them - don't call me I'll call you. Still think they will have trouble restraining themselves, but I've made it abundantly clear and they have agreed (including in e-mail responses) to leave me alone.
viewtopic.php?f=1&t=278442&p=4487408&hi ... k#p4487408
Read on our experience. It is true, there is no obvious way to link an external account at Merrill Edge. Not even going to try after reading about your saga.
Actually I wasn't trying to link an external (to ME) account, if that's what you mean by "external". Before I opened the 2 accounts (one in my name, the other in my spouse's) I asked the local BoA/ME rep who handled the account setup if I could link the 2 in one online login and he said "yes, no problem". He obviously lied. I wouldn't have opened the accounts if I had know it wasn't possible.

But that was only the start of our problems. We had many (a dozen) calls in our attempt to solve the issue. In all that time no one at ME said it couldn't be done but it still never happened. The last call they initiated, to my spouse, was so inept and frustrating that she was in tears at the end.

BTW I was able, with ease, to set up all 5 accounts on a single login with TDA, as well as with their predecessor Scottrade. So it's not like I was asking for something that was impossible in the industry.
That's odd. I see all of my BofA and all my Merrill Edge accounts with one BofA login.

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

Post by MichDad » Thu Jun 18, 2020 2:33 pm

My wife and I each have accounts with Merrill Edge and BoA. All our accounts are linked on one login page. It's nice and simple.

MichDad

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Thu Jun 18, 2020 2:55 pm

MichDad wrote:
Thu Jun 18, 2020 2:33 pm
My wife and I each have accounts with Merrill Edge and BoA. All our accounts are linked on one login page. It's nice and simple.

MichDad
Can you execute trades in either account from that single login? If you can, then I can't explain why multiple attempts to have ME customer service provide that setup for me failed. But it did. After 4-6 weeks of trying to get to that point, I gave up and simply decided to exit ME for good after the 6 month hold.

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

Post by MichDad » Thu Jun 18, 2020 4:03 pm

neilpilot wrote:
Thu Jun 18, 2020 2:55 pm
MichDad wrote:
Thu Jun 18, 2020 2:33 pm
My wife and I each have accounts with Merrill Edge and BoA. All our accounts are linked on one login page. It's nice and simple.

MichDad
Can you execute trades in either account from that single login? If you can, then I can't explain why multiple attempts to have ME customer service provide that setup for me failed. But it did. After 4-6 weeks of trying to get to that point, I gave up and simply decided to exit ME for good after the 6 month hold.
Yes, we can. I do all the trading for both of us. I've traded both on my account and my wife's account from the Merrill Edge platform. I believe my wife signed a power of attorney type document granting me such authority when we opened our two accounts in 2018. I should add that we each received nice bonuses for transferring funds into our respective accounts.

We opened our accounts by walking into our local BoA branch, which has a Merrill Edge representative. We met with the ME representative for quite a while and explained what we wanted to do. She worked with a specific ME customer service representative via telephone and email to get everything set up for us. My wife transferred in funds from two 401(k) plans, both at Fidelity, and I transferred in funds from a Roth IRA, from Vanguard if I recall correctly. We maintained good, detailed email contacts with both these two ME representatives. While I wouldn't say it was instantaneous, I think the time everything took was reasonable. As part of the process, we each became Platinum Honors customers. We got the BoA Premium Rewards Visa card, which is now our primary credit card, and we each received free safe deposit boxes at our local BoA branch. We've used the BoA free notary services too from time to time. All-in-all, I've been very satisfied.

MichDad

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

Post by student » Thu Jun 18, 2020 4:10 pm

MikeG62 wrote:
Thu Jun 11, 2020 4:53 pm
Subject - Chase $2,000 bonus Private Client Banking Bonus
Thank you so much for the post. I enjoy reading it.

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

Post by EnjoyIt » Thu Jun 18, 2020 4:22 pm

I am going to ask again just in case some missed it. Has anyone pulled money out of ally invest before 300 days and did they claw back their bonus? I ask because their web site says “may” take back bonus.
A time to EVALUATE your jitters. | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418

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

Post by student » Thu Jun 18, 2020 4:49 pm

MichDad wrote:
Thu Jun 18, 2020 4:03 pm
neilpilot wrote:
Thu Jun 18, 2020 2:55 pm
MichDad wrote:
Thu Jun 18, 2020 2:33 pm
My wife and I each have accounts with Merrill Edge and BoA. All our accounts are linked on one login page. It's nice and simple.

MichDad
Can you execute trades in either account from that single login? If you can, then I can't explain why multiple attempts to have ME customer service provide that setup for me failed. But it did. After 4-6 weeks of trying to get to that point, I gave up and simply decided to exit ME for good after the 6 month hold.
Yes, we can. I do all the trading for both of us. I've traded both on my account and my wife's account from the Merrill Edge platform. I believe my wife signed a power of attorney type document granting me such authority when we opened our two accounts in 2018. I should add that we each received nice bonuses for transferring funds into our respective accounts.

We opened our accounts by walking into our local BoA branch, which has a Merrill Edge representative. We met with the ME representative for quite a while and explained what we wanted to do. She worked with a specific ME customer service representative via telephone and email to get everything set up for us. My wife transferred in funds from two 401(k) plans, both at Fidelity, and I transferred in funds from a Roth IRA, from Vanguard if I recall correctly. We maintained good, detailed email contacts with both these two ME representatives. While I wouldn't say it was instantaneous, I think the time everything took was reasonable. As part of the process, we each became Platinum Honors customers. We got the BoA Premium Rewards Visa card, which is now our primary credit card, and we each received free safe deposit boxes at our local BoA branch. We've used the BoA free notary services too from time to time. All-in-all, I've been very satisfied.

MichDad
I had a similar experience viewtopic.php?f=1&t=214753

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

Post by tj » Thu Jun 18, 2020 6:32 pm

EnjoyIt wrote:
Thu Jun 18, 2020 4:22 pm
I am going to ask again just in case some missed it. Has anyone pulled money out of ally invest before 300 days and did they claw back their bonus? I ask because their web site says “may” take back bonus.
Just don't pull it out. Why risk it?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Thu Jun 18, 2020 9:10 pm

student wrote:
Thu Jun 18, 2020 4:49 pm
MichDad wrote:
Thu Jun 18, 2020 4:03 pm
neilpilot wrote:
Thu Jun 18, 2020 2:55 pm
MichDad wrote:
Thu Jun 18, 2020 2:33 pm
My wife and I each have accounts with Merrill Edge and BoA. All our accounts are linked on one login page. It's nice and simple.

MichDad
Can you execute trades in either account from that single login? If you can, then I can't explain why multiple attempts to have ME customer service provide that setup for me failed. But it did. After 4-6 weeks of trying to get to that point, I gave up and simply decided to exit ME for good after the 6 month hold.
Yes, we can. I do all the trading for both of us. I've traded both on my account and my wife's account from the Merrill Edge platform. I believe my wife signed a power of attorney type document granting me such authority when we opened our two accounts in 2018. I should add that we each received nice bonuses for transferring funds into our respective accounts.

We opened our accounts by walking into our local BoA branch, which has a Merrill Edge representative. We met with the ME representative for quite a while and explained what we wanted to do. She worked with a specific ME customer service representative via telephone and email to get everything set up for us. My wife transferred in funds from two 401(k) plans, both at Fidelity, and I transferred in funds from a Roth IRA, from Vanguard if I recall correctly. We maintained good, detailed email contacts with both these two ME representatives. While I wouldn't say it was instantaneous, I think the time everything took was reasonable. As part of the process, we each became Platinum Honors customers. We got the BoA Premium Rewards Visa card, which is now our primary credit card, and we each received free safe deposit boxes at our local BoA branch. We've used the BoA free notary services too from time to time. All-in-all, I've been very satisfied.

MichDad
I had a similar experience viewtopic.php?f=1&t=214753
My experience was very similar, except for the result. I met with a local ME rep, and made it clear up front that we both would transfer assets in and I would require a single login to both accounts. Same as you, the local rep brought in a specific customer service rep. My wife went thru a POA process, which took over an hour to complete and was several orders of magnitude more complex than the POA she had executed with TDA.

However later the customer service rep assigned to me was helpless in linking the accounts in a single login. He then brought in another rep who was equally as inept. Several additional phone calls and letters followed. It never happened.

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

Post by student » Thu Jun 18, 2020 9:19 pm

neilpilot wrote:
Thu Jun 18, 2020 9:10 pm
student wrote:
Thu Jun 18, 2020 4:49 pm
MichDad wrote:
Thu Jun 18, 2020 4:03 pm
neilpilot wrote:
Thu Jun 18, 2020 2:55 pm
MichDad wrote:
Thu Jun 18, 2020 2:33 pm
My wife and I each have accounts with Merrill Edge and BoA. All our accounts are linked on one login page. It's nice and simple.

MichDad
Can you execute trades in either account from that single login? If you can, then I can't explain why multiple attempts to have ME customer service provide that setup for me failed. But it did. After 4-6 weeks of trying to get to that point, I gave up and simply decided to exit ME for good after the 6 month hold.
Yes, we can. I do all the trading for both of us. I've traded both on my account and my wife's account from the Merrill Edge platform. I believe my wife signed a power of attorney type document granting me such authority when we opened our two accounts in 2018. I should add that we each received nice bonuses for transferring funds into our respective accounts.

We opened our accounts by walking into our local BoA branch, which has a Merrill Edge representative. We met with the ME representative for quite a while and explained what we wanted to do. She worked with a specific ME customer service representative via telephone and email to get everything set up for us. My wife transferred in funds from two 401(k) plans, both at Fidelity, and I transferred in funds from a Roth IRA, from Vanguard if I recall correctly. We maintained good, detailed email contacts with both these two ME representatives. While I wouldn't say it was instantaneous, I think the time everything took was reasonable. As part of the process, we each became Platinum Honors customers. We got the BoA Premium Rewards Visa card, which is now our primary credit card, and we each received free safe deposit boxes at our local BoA branch. We've used the BoA free notary services too from time to time. All-in-all, I've been very satisfied.

MichDad
I had a similar experience viewtopic.php?f=1&t=214753
My experience was very similar, except for the result. I met with a local ME rep, and made it clear up front that we both would transfer assets in and I would require a single login to both accounts. Same as you, the local rep brought in a specific customer service rep. My wife went thru a POA process, which took over an hour to complete and was several orders of magnitude more complex than the POA she had executed with TDA.

However later the customer service rep assigned to me was helpless in linking the accounts in a single login. He then brought in another rep who was equally as inept. Several additional phone calls and letters followed. It never happened.
Interesting. I don't quite remember the setup. I think the ME login is actually a separate system. So I first created a login name for it, which I used the same as BoA. Then I linked the two accounts myself without their help.

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sperry8
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sperry8 » Wed Jul 01, 2020 11:27 pm

privatefarmer wrote:
Sun Jul 08, 2018 1:26 am
does anyone here hold DFA funds (without an advisor)?? I have some funds that are no longer being managed by an advisor and would love to get a transfer bonus however I cannot find a brokerage that will accept the transfer of DFA funds w/o an advisor attached...
Did you ever find a brokerage house to do this? I heard First Republic Bank will do it but they do have fees for your assets.
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Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 » Sat Jul 11, 2020 2:51 pm

I see that M1 Finance is offering a $2500 bonus on a $1M deposit. Do you think they are "real" enough to trust to hold $1M in assets safely?

MikeG62
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Sat Jul 11, 2020 3:19 pm

Leesbro63 wrote:
Sat Jul 11, 2020 2:51 pm
I see that M1 Finance is offering a $2500 bonus on a $1M deposit. Do you think they are "real" enough to trust to hold $1M in assets safely?
I’m in the process of getting $2,000 for $250,000 at Chase. I got $1,800 for $400,000 at Merrill Edge earlier this year. I’d suggest looking at those before committing $1.0 million to M1 Finance (never heard of them myself). If you do both you’d get $3,800 for $650,000.
Real Knowledge Comes Only From Experience

Chicago60
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Chicago60 » Sat Jul 11, 2020 3:40 pm

MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.

MikeG62
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Sat Jul 11, 2020 4:01 pm

Chicago60 wrote:
Sat Jul 11, 2020 3:40 pm
MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.
https://accounts.chase.com/consumer/ban ... vateclient
Real Knowledge Comes Only From Experience

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

Post by EnjoyIt » Sat Jul 11, 2020 4:30 pm

MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
Leesbro63 wrote:
Sat Jul 11, 2020 2:51 pm
I see that M1 Finance is offering a $2500 bonus on a $1M deposit. Do you think they are "real" enough to trust to hold $1M in assets safely?
I’m in the process of getting $2,000 for $250,000 at Chase. I got $1,800 for $400,000 at Merrill Edge earlier this year. I’d suggest looking at those before committing $1.0 million to M1 Finance (never heard of them myself). If you do both you’d get $3,800 for $650,000.
With Merrill edge, are you doing 2 x $200k bonuses to get to $1800 or is there some other promotion I don’t see?
A time to EVALUATE your jitters. | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418

MikeG62
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Sat Jul 11, 2020 4:51 pm

EnjoyIt wrote:
Sat Jul 11, 2020 4:30 pm
MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
Leesbro63 wrote:
Sat Jul 11, 2020 2:51 pm
I see that M1 Finance is offering a $2500 bonus on a $1M deposit. Do you think they are "real" enough to trust to hold $1M in assets safely?
I’m in the process of getting $2,000 for $250,000 at Chase. I got $1,800 for $400,000 at Merrill Edge earlier this year. I’d suggest looking at those before committing $1.0 million to M1 Finance (never heard of them myself). If you do both you’d get $3,800 for $650,000.
With Merrill edge, are you doing 2 x $200k bonuses to get to $1800 or is there some other promotion I don’t see?
Yes 2 x $200,000 - one is a CMA and the other an IRA.

Merrill Edge process was very smooth and easy.

Chase Private Client not as smooth so far but I’ve finally got them where I want them. I’ve written on this up thread.
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sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 » Sat Jul 11, 2020 7:05 pm

MikeG62 wrote:
Sat Jul 11, 2020 4:51 pm
Yes 2 x $200,000 - one is a CMA and the other an IRA.
Merrill Edge process was very smooth and easy.
Chase Private Client not as smooth so far but I’ve finally got them where I want them. I’ve written on this up thread.
FWIW: M1Finance Transfer-in took 15-20 days - their cust service reachable- not as fast nor knowledgeable as Fidelity (but, it’s tough for someone to match Fidelity!)

There are a few M1 gotchas - have to set up a pie; there are some Transfer-out fees. Trades occur not real-time ., but only during their 1-2 hour trading Windows :-( using Pie (bucket of sort). But I don’t Trade, I simply stay Invested and Sit/do-nothing ( also all my IRA portfolio consists of known Stocks and large ETF — so dunno their breadth of coverage)

Web interface fast/decent - not bad overall.

Took plunge with Rollover IRA Transfer-in to M1; even if by a mistake/erroneous ‘Sale/trade’ etc executed during transfer — not overly concerned; lesser implications than Taxable account.

Good news: NO errors occurred during/after transfer in about a month (for me).

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Chicago60 » Sun Jul 12, 2020 6:25 am

MikeG62 wrote:
Sat Jul 11, 2020 4:01 pm
Chicago60 wrote:
Sat Jul 11, 2020 3:40 pm
MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.
https://accounts.chase.com/consumer/ban ... vateclient
Thanks

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Rajsx » Wed Jul 15, 2020 4:05 pm

Very informative thread, following this one as I am considering a transfer of funds. Thanks
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jay22 » Thu Jul 16, 2020 6:29 pm

MikeG62 wrote:
Sat Jul 11, 2020 4:01 pm
Chicago60 wrote:
Sat Jul 11, 2020 3:40 pm
MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.
https://accounts.chase.com/consumer/ban ... vateclient
How does it work from an investment perspective? Do you need to change the funds you're invested in when you transfer?

MikeG62
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Location: New Jersey

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Thu Jul 16, 2020 7:18 pm

jay22 wrote:
Thu Jul 16, 2020 6:29 pm
MikeG62 wrote:
Sat Jul 11, 2020 4:01 pm
Chicago60 wrote:
Sat Jul 11, 2020 3:40 pm
MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.
https://accounts.chase.com/consumer/ban ... vateclient
How does it work from an investment perspective? Do you need to change the funds you're invested in when you transfer?
Nope, not unless it’s some esoteric investment that the other broker would not be able to hold (which is very unlikely).

FWIW, I transferred shares of an institutional share class bond fund (a carryover investment from my old employers 401K). Merrill Edge was able to accept the shares, even though I could not purchase additional shares of that fund on the ME platform.
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Makaveli
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Makaveli » Fri Jul 17, 2020 7:42 am

MikeG62 wrote:
Sat Jul 11, 2020 4:01 pm
Chicago60 wrote:
Sat Jul 11, 2020 3:40 pm
MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.
https://accounts.chase.com/consumer/ban ... vateclient
And I thought my $1,250 CPC bonus was good. Nice one.

The only downside on these transfers is the complete disregard of tracking & maintaining cost basis.

MikeG62
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Fri Jul 17, 2020 7:53 am

Makaveli wrote:
Fri Jul 17, 2020 7:42 am
MikeG62 wrote:
Sat Jul 11, 2020 4:01 pm
Chicago60 wrote:
Sat Jul 11, 2020 3:40 pm
MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.
https://accounts.chase.com/consumer/ban ... vateclient
And I thought my $1,250 CPC bonus was good. Nice one.

The only downside on these transfers is the complete disregard of tracking & maintaining cost basis.
In my experience this is untrue. Cost basis tracking was maintained in my transfer of securities from Fidelity to Merrill Edge and also from Merrill Edge to JPM/Chase.

The biggest downside is getting the new broker to leave you alone. This was a non-issue for Merrill Edge, but not for JPM/Chase. I've had to have more than one discussion with JPM/Chase telling them to "leave me alone". They appear to have finally gotten the message.
Real Knowledge Comes Only From Experience

worthit
Posts: 238
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by worthit » Sat Jul 18, 2020 5:12 pm

jay22 wrote:
Thu Jul 16, 2020 6:29 pm
MikeG62 wrote:
Sat Jul 11, 2020 4:01 pm
Chicago60 wrote:
Sat Jul 11, 2020 3:40 pm
MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.
https://accounts.chase.com/consumer/ban ... vateclient
How does it work from an investment perspective? Do you need to change the funds you're invested in when you transfer?
Can we move the funds after receiving the bonus of $2000 - if so, how soon after? Or do we get hit with a fee in the form of low maintenance fee? Or does the private client status simply revert back to the original tier?

MikeG62
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Location: New Jersey

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Sat Jul 18, 2020 7:02 pm

worthit wrote:
Sat Jul 18, 2020 5:12 pm
jay22 wrote:
Thu Jul 16, 2020 6:29 pm
MikeG62 wrote:
Sat Jul 11, 2020 4:01 pm
Chicago60 wrote:
Sat Jul 11, 2020 3:40 pm
MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.
https://accounts.chase.com/consumer/ban ... vateclient
How does it work from an investment perspective? Do you need to change the funds you're invested in when you transfer?
Can we move the funds after receiving the bonus of $2000 - if so, how soon after? Or do we get hit with a fee in the form of low maintenance fee? Or does the private client status simply revert back to the original tier?
To my knowledge there is no clawback post the bonus posting. However, if you move the funds out you might as well close the account(s) as you will get hit with fees as you won’t qualify for Private Client Status. There is an account closure fee for the JPM account of I believe $75.
Real Knowledge Comes Only From Experience

worthit
Posts: 238
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by worthit » Sat Jul 18, 2020 8:48 pm

Thanks MikeG62.

p.s. I like your signature :D .

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BuddyJet » Sun Jul 19, 2020 7:56 am

I can confirm a $75 Chase YouInvest closure fee. A JPM brokerage account, required for the private client bonus, might have different fees but are not likely to be less.
People say nothing is impossible. I do nothing all day.

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

Post by tj » Sun Jul 19, 2020 10:26 am

BuddyJet wrote:
Sun Jul 19, 2020 7:56 am
I can confirm a $75 Chase YouInvest closure fee. A JPM brokerage account, required for the private client bonus, might have different fees but are not likely to be less.


Why close it? I transferred out and it just sits at $0.00. there's actually a "fund your account" link. 😅 Are they really going to send someone a bill for closing it?

MikeG62
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Sun Jul 19, 2020 11:49 am

tj wrote:
Sun Jul 19, 2020 10:26 am
BuddyJet wrote:
Sun Jul 19, 2020 7:56 am
I can confirm a $75 Chase YouInvest closure fee. A JPM brokerage account, required for the private client bonus, might have different fees but are not likely to be less.


Why close it? I transferred out and it just sits at $0.00. there's actually a "fund your account" link. 😅 Are they really going to send someone a bill for closing it?
If this is the Chase Private Client $2,000 bonus, then yes you’ll be charged fees once the account falls below the minimum. This applies to the Chase Private Client checking account. Could close that account and avoid fees.

I suppose one could convert the JPM full service brokerage account to a YouInvest account once you want to move the securities elsewhere and may be able to avoid fees - although I believe they do charge partial or full account transfer fees.
Real Knowledge Comes Only From Experience

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

Post by tj » Sun Jul 19, 2020 12:31 pm

MikeG62 wrote:
Sun Jul 19, 2020 11:49 am
tj wrote:
Sun Jul 19, 2020 10:26 am
BuddyJet wrote:
Sun Jul 19, 2020 7:56 am
I can confirm a $75 Chase YouInvest closure fee. A JPM brokerage account, required for the private client bonus, might have different fees but are not likely to be less.


Why close it? I transferred out and it just sits at $0.00. there's actually a "fund your account" link. 😅 Are they really going to send someone a bill for closing it?
If this is the Chase Private Client $2,000 bonus, then yes you’ll be charged fees once the account falls below the minimum. This applies to the Chase Private Client checking account. Could close that account and avoid fees.

I suppose one could convert the JPM full service brokerage account to a YouInvest account once you want to move the securities elsewhere and may be able to avoid fees - although I believe they do charge partial or full account transfer fees.
I was referring the YouInvest account which mentioned the $75 account closure fee.

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

Post by BuddyJet » Sun Jul 19, 2020 5:22 pm

tj wrote:
Sun Jul 19, 2020 10:26 am
BuddyJet wrote:
Sun Jul 19, 2020 7:56 am
I can confirm a $75 Chase YouInvest closure fee. A JPM brokerage account, required for the private client bonus, might have different fees but are not likely to be less.


Why close it? I transferred out and it just sits at $0.00. there's actually a "fund your account" link. 😅 Are they really going to send someone a bill for closing it?
Closed the account to be eligible for future “new” account bonuses.

They actually did send a bill in a way. I had no cash in the account when I made a whole account ACAT to Schwab. After securities delivered, Chase made an ACAT request for $75 from Schwab. Schwab sent the $75 which made my account negative at Schwab so I added the $75 to Schwab.

All in all, it lowered my Youinvest bonus from $725 to $650. Still not bad and will do again next year, if possible.
People say nothing is impossible. I do nothing all day.

pre
Posts: 101
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Sun Jul 19, 2020 5:55 pm

BuddyJet wrote:
Sun Jul 19, 2020 5:22 pm
tj wrote:
Sun Jul 19, 2020 10:26 am
BuddyJet wrote:
Sun Jul 19, 2020 7:56 am
I can confirm a $75 Chase YouInvest closure fee. A JPM brokerage account, required for the private client bonus, might have different fees but are not likely to be less.


Why close it? I transferred out and it just sits at $0.00. there's actually a "fund your account" link. 😅 Are they really going to send someone a bill for closing it?
Closed the account to be eligible for future “new” account bonuses.

They actually did send a bill in a way. I had no cash in the account when I made a whole account ACAT to Schwab. After securities delivered, Chase made an ACAT request for $75 from Schwab. Schwab sent the $75 which made my account negative at Schwab so I added the $75 to Schwab.

All in all, it lowered my Youinvest bonus from $725 to $650. Still not bad and will do again next year, if possible.
Consider a chat with Schwab, the reps will usually reimburse you on the spot, without needing documentation. I've gotten at least a half dozen credits this way.

Schwab has been great for customer service, from my experience.

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

Post by hmw » Thu Jul 23, 2020 12:54 pm

MikeG62 wrote:
Sun Jul 19, 2020 11:49 am
tj wrote:
Sun Jul 19, 2020 10:26 am
BuddyJet wrote:
Sun Jul 19, 2020 7:56 am
I can confirm a $75 Chase YouInvest closure fee. A JPM brokerage account, required for the private client bonus, might have different fees but are not likely to be less.


Why close it? I transferred out and it just sits at $0.00. there's actually a "fund your account" link. 😅 Are they really going to send someone a bill for closing it?
If this is the Chase Private Client $2,000 bonus, then yes you’ll be charged fees once the account falls below the minimum. This applies to the Chase Private Client checking account. Could close that account and avoid fees.

I suppose one could convert the JPM full service brokerage account to a YouInvest account once you want to move the securities elsewhere and may be able to avoid fees - although I believe they do charge partial or full account transfer fees.
I am interested in getting the $2000 bonus. I currently have no accounts with Chase except a chase issued cc. I had opened and closed a checking and a saving account at chase within the last 12 months for the combined $600 bonus. But reading the fine print, it appear that it will be ok.

The $2000 bonus fine print says

"You can only participate in one Chase Private Client CheckingSM, Chase SapphireSM Checking or You InvestSM new money bonus in a 12 month period from the last bonus enrollment date. "

I don't think my previous opened checking account was called chase saphire checking. Can anyone confirm that?

I currently have 250k sitting in a on line saving account. For people who has done this, what accounts are available or are required to open at Chase? I am guessing that the interest rates at Chase saving account will be much lower than say Ally or Capital one. I may open a brokerage acocunt and buy some muni bond funds while it sits at Chase.

Also, do I have to physically meet a chase private client banker in person? I am sure it will be a huge sale pitch. How bad is it? Can I just say that I am here for the bonus, and please leave me alone? :D

Thanks

MikeG62
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Location: New Jersey

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeG62 » Thu Jul 23, 2020 1:05 pm

hmw wrote:
Thu Jul 23, 2020 12:54 pm
MikeG62 wrote:
Sun Jul 19, 2020 11:49 am
tj wrote:
Sun Jul 19, 2020 10:26 am
BuddyJet wrote:
Sun Jul 19, 2020 7:56 am
I can confirm a $75 Chase YouInvest closure fee. A JPM brokerage account, required for the private client bonus, might have different fees but are not likely to be less.


Why close it? I transferred out and it just sits at $0.00. there's actually a "fund your account" link. 😅 Are they really going to send someone a bill for closing it?
If this is the Chase Private Client $2,000 bonus, then yes you’ll be charged fees once the account falls below the minimum. This applies to the Chase Private Client checking account. Could close that account and avoid fees.

I suppose one could convert the JPM full service brokerage account to a YouInvest account once you want to move the securities elsewhere and may be able to avoid fees - although I believe they do charge partial or full account transfer fees.
I am interested in getting the $2000 bonus. I currently have no accounts with Chase except a chase issued cc. I had opened and closed a checking and a saving account at chase within the last 12 months for the combined $600 bonus. But reading the fine print, it appear that it will be ok.

The $2000 bonus fine print says

"You can only participate in one Chase Private Client CheckingSM, Chase SapphireSM Checking or You InvestSM new money bonus in a 12 month period from the last bonus enrollment date. "

I don't think my previous opened checking account was called chase saphire checking. Can anyone confirm that?

I currently have 250k sitting in a on line saving account. For people who has done this, what accounts are available or are required to open at Chase? I am guessing that the interest rates at Chase saving account will be much lower than say Ally or Capital one. I may open a brokerage acocunt and buy some muni bond funds while it sits at Chase.

Also, do I have to physically meet a chase private client banker in person? I am sure it will be a huge sale pitch. How bad is it? Can I just say that I am here for the bonus, and please leave me alone? :D

Thanks
I can't comment on whether your having enrolled in a different bonus plan within the last 12 months will create an issue for you. What I would say is that I'd find out the answer to that from a Chase Rep before investing time in the process for this bonus.

Please look upthread a bit for my post on this process (it's back around June 10th). Lot's of detail there to answer your question on the process.

I would not tell them I am only in it for the bonus and that's it. After all, you do need to be "approved" for this offer. I would hold out some hope that you are interested in checking out Chase and JPM and the bonus is helping to bring you in. Refuse any attempts on their part to enroll you in their asset management business. As I said, read my post upthread.

Lastly, I transferred in shares (in-kind) in one equity ETF in excess of the $250,000 threshold. Wanted to make sure even if the market pulled back it would be enough to still clear the hurdle.

My plan is to leave things alone until 30-60 days after the bonus posts. Then I will pull the securities out of JPM and close the checking account. I am not aware of any clawback relating to this bonus - no mention of it in the fine print of the offer.

Hope that helps.
Real Knowledge Comes Only From Experience

caklim00
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by caklim00 » Thu Jul 23, 2020 4:09 pm

Anyone here able to use https://www.tdameritrade.com/offer/tdba ... index.html recently? Not a TD Bank customer but heard there might be a way to use it anyway.

Also, anyone here use Tradestation? They seem to have a decent promo.

pre
Posts: 101
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Thu Jul 23, 2020 4:19 pm

caklim00 wrote:
Thu Jul 23, 2020 4:09 pm
Anyone here able to use https://www.tdameritrade.com/offer/tdba ... index.html recently? Not a TD Bank customer but heard there might be a way to use it anyway.
Yup, my family member and I did this offer in April, both our bonuses credited on day assets arrived. We're not TD banking customers

caklim00
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by caklim00 » Thu Jul 23, 2020 4:36 pm

pre wrote:
Thu Jul 23, 2020 4:19 pm
caklim00 wrote:
Thu Jul 23, 2020 4:09 pm
Anyone here able to use https://www.tdameritrade.com/offer/tdba ... index.html recently? Not a TD Bank customer but heard there might be a way to use it anyway.
Yup, my family member and I did this offer in April, both our bonuses credited on day assets arrived. We're not TD banking customers
Did you call someone or did you apply online for TDAM?

pre
Posts: 101
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Thu Jul 23, 2020 5:03 pm

caklim00 wrote:
Thu Jul 23, 2020 4:36 pm
pre wrote:
Thu Jul 23, 2020 4:19 pm
caklim00 wrote:
Thu Jul 23, 2020 4:09 pm
Anyone here able to use https://www.tdameritrade.com/offer/tdba ... index.html recently? Not a TD Bank customer but heard there might be a way to use it anyway.
Yup, my family member and I did this offer in April, both our bonuses credited on day assets arrived. We're not TD banking customers
Did you call someone or did you apply online for TDAM?
All online. I did sent a quick message between account set up and ACAT transfer to confirm we were enrolled in the offer, which they did.

I've done over 20 TDA bonus offers, and have never had an issue with them honoring the offer.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by LadyGeek » Thu Jul 23, 2020 7:24 pm

I removed a post offering a referral link. As a reminder, see: No Solicitation
Members may not post affiliate or referral links, except affiliate links in support of the forum, or ask for referrals.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj » Thu Jul 23, 2020 7:26 pm

caklim00 wrote:
Thu Jul 23, 2020 4:09 pm
Anyone here able to use https://www.tdameritrade.com/offer/tdba ... index.html recently? Not a TD Bank customer but heard there might be a way to use it anyway.

Also, anyone here use Tradestation? They seem to have a decent promo.
Never heard of Tradestation. What's the promo?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Thu Jul 23, 2020 10:33 pm

caklim00 wrote:
Thu Jul 23, 2020 4:09 pm
Anyone here able to use https://www.tdameritrade.com/offer/tdba ... index.html recently? Not a TD Bank customer but heard there might be a way to use it anyway.

Also, anyone here use Tradestation? They seem to have a decent promo.
I have completed a Tradestation bonus. Everything went as it should have. One thing to be aware of is they have different fee structures depending on the account type. I could trade free with the account I had, but I had to use a mobile phone to do so. Had I used a browser, there would have been a significant fee.

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