The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by pre » Mon Feb 26, 2018 7:42 pm

neilpilot wrote:
Mon Feb 26, 2018 7:32 pm
BashDash wrote:
Mon Feb 26, 2018 7:29 pm
Hi all,
Quick question. During 2017 I transferred from trade king to merril edge for a bonus. Do I need to get tax info from tradeking or will merril have all my tax info for the entire year ( including the time I was still with tradeking). Would the dividends earned earlier in the year be accounted for by merril in their tax info for me?

Thanks!
I don't know the answer, but suspect you will need reporting from both. If you have ME's consolidated tax summary, can't you get the answer by reading ME's report details to determine if their summary includes your dates with Trade King?
Yep, would need to separate the dividends separately. I did a few transfers last year -- for example, I got a TDA 1099 for earlier in the year, then a Merrill 1099 to conclude the calendar year

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

Post by dual » Thu Mar 01, 2018 5:32 pm

What are good websites for checking current transfer bonuses?

Here are some that I check:

https://investorjunkie.com/current-stoc ... romotions/
decent selection. Has IRA offer section.

http://www.hustlermoneyblog.com/best-brokerage-bonuses/
No separate IRA section

p.s. This is a good thread but the Bogleheads website software does not seem to allow a summary/wiki so it takes too much searching to find the latest offers.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by investor997 » Mon Mar 05, 2018 5:09 pm

I plan to transfer a taxable account out of TD Ameritrade. The new custodian already told me they'd refund me the $75 account transfer fee charged by TD Ameritrade. Are there any reasons why I wouldn't want to just transfer the entire account in-kind, or should I leave a little behind? The only thing I can think of is access to account transaction history on the website but if I export/save all that before the transfer, does it matter?

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

Post by dbr » Mon Mar 05, 2018 5:37 pm

investor997 wrote:
Mon Mar 05, 2018 5:09 pm
I plan to transfer a taxable account out of TD Ameritrade. The new custodian already told me they'd refund me the $75 account transfer fee charged by TD Ameritrade. Are there any reasons why I wouldn't want to just transfer the entire account in-kind, or should I leave a little behind? The only thing I can think of is access to account transaction history on the website but if I export/save all that before the transfer, does it matter?
I would never not leave an open account that I can access for some reason or another until I at least had all the tax data for the present year and taxes filed. It is unnerving when the assets are out and your account access ceases the very day.

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Mon Mar 05, 2018 7:01 pm

dbr wrote:
Mon Mar 05, 2018 5:37 pm
investor997 wrote:
Mon Mar 05, 2018 5:09 pm
I plan to transfer a taxable account out of TD Ameritrade. The new custodian already told me they'd refund me the $75 account transfer fee charged by TD Ameritrade. Are there any reasons why I wouldn't want to just transfer the entire account in-kind, or should I leave a little behind? The only thing I can think of is access to account transaction history on the website but if I export/save all that before the transfer, does it matter?
I would never not leave an open account that I can access for some reason or another until I at least had all the tax data for the present year and taxes filed. It is unnerving when the assets are out and your account access ceases the very day.
TD Ameritrade will close the account on total transfer and cut off access to it, so be aware of that. Others like Fidelity won't close the account and you can keep using it, even transfer more back in.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by investor997 » Mon Mar 05, 2018 8:05 pm

Earl Lemongrab wrote:
Mon Mar 05, 2018 7:01 pm
TD Ameritrade will close the account on total transfer and cut off access to it, so be aware of that. Others like Fidelity won't close the account and you can keep using it, even transfer more back in.
Good to know. I'm trying to think if there's any reason for me to leave 10 bucks over there to keep it open. I can only assume that if I don't, I'll receive a 1099 in the mail from TD Ameritrade in time for next tax season. The reality is I was a Scottrade client who just got converted over. I would have transferred out earlier but I had to wait until just after the transfer date due to a bonus I was paid by Scottrade last year.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by overthought » Mon Mar 05, 2018 9:29 pm

investor997 wrote:
Mon Mar 05, 2018 8:05 pm
Earl Lemongrab wrote:
Mon Mar 05, 2018 7:01 pm
TD Ameritrade will close the account on total transfer and cut off access to it, so be aware of that. Others like Fidelity won't close the account and you can keep using it, even transfer more back in.
Good to know. I'm trying to think if there's any reason for me to leave 10 bucks over there to keep it open. I can only assume that if I don't, I'll receive a 1099 in the mail from TD Ameritrade in time for next tax season. The reality is I was a Scottrade client who just got converted over. I would have transferred out earlier but I had to wait until just after the transfer date due to a bonus I was paid by Scottrade last year.
Huh, I emptied two of my TDA accounts into a third while consolidating accounts, and they both remain open. I also transferred my tIRA to my 401(k), and it remained open (I didn't check the "close account" box on the transfer form).

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Tue Mar 06, 2018 3:09 pm

I have 3 questions, and a little rant. Appreciate all responses.

If you move out of TDA completely and close your accounts, and it's all in ETFs with maybe $10 in cash, how does TDA assess $75 transfer fee?

If you decide to leave the account open, does the ACAT form allow to specify amount of cash to be moved to new account so you know exactly how much you are leaving in TDA?

For other APEX guys that transferred completely out of TDA this year - did TDA waive $75/account fee automatically, or did you have to call CS to get it waived?

I was going to move my big 3 accounts out of TDA over a year ago but never did. Now that they got rid of Vanguard free ETFs there is no reason to stay. I would also like to collect ME signing bonuses.

I called TDA last week to ask if Apex is still available (so the transfer fee is waived), it took multiple times on hold to confirm that. CS wasn't able to email me anything in writing, nor pointing me to their website where the language is.

To top it all off, CS was really concerned that I was going to leave, and asked what he can do to keep me with TDA. I said I would consider retention bonus, to which he said someone from my local branch will call me to discuss it. The guy called couple hours later - asked where I was considering moving. I said ME and gave him specific bonus amounts, plus I said the CS at TDA has deteriorated greatly over the last couple of years. He made a very rude sarcastic comment about ME and hung up on me.

So at this point I would just prefer to completely cut ties with TDA, this is not how I want to be treated, especially after being their customer for 20+ years.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pshonore » Tue Mar 06, 2018 3:32 pm

Quick question - do fractional shares transfer easily? Any difference between an MF, ETF or Individual stock?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Tue Mar 06, 2018 4:09 pm

pshonore wrote:
Tue Mar 06, 2018 3:32 pm
Quick question - do fractional shares transfer easily? Any difference between an MF, ETF or Individual stock?
MFs, yes. For Stocks and ETFs, the sending brokerage typically sells the fractions. I remember that one brokerage charged me $7 or so to liquidate $5 worth of a fractional share, but I sent a copy of the transaction to the receiving brokerage, and they reimbursed me.

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Tue Mar 06, 2018 4:50 pm

SlowMovingInvestor wrote:
Tue Mar 06, 2018 4:09 pm
pshonore wrote:
Tue Mar 06, 2018 3:32 pm
Quick question - do fractional shares transfer easily? Any difference between an MF, ETF or Individual stock?
MFs, yes. For Stocks and ETFs, the sending brokerage typically sells the fractions. I remember that one brokerage charged me $7 or so to liquidate $5 worth of a fractional share, but I sent a copy of the transaction to the receiving brokerage, and they reimbursed me.
That's one of the reasons that I don't reinvest ETFs, even in tax-advantaged. I prefer to have whole lots.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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

Post by SlowMovingInvestor » Tue Mar 06, 2018 5:14 pm

Earl Lemongrab wrote:
Tue Mar 06, 2018 4:50 pm
SlowMovingInvestor wrote:
Tue Mar 06, 2018 4:09 pm
pshonore wrote:
Tue Mar 06, 2018 3:32 pm
Quick question - do fractional shares transfer easily? Any difference between an MF, ETF or Individual stock?
MFs, yes. For Stocks and ETFs, the sending brokerage typically sells the fractions. I remember that one brokerage charged me $7 or so to liquidate $5 worth of a fractional share, but I sent a copy of the transaction to the receiving brokerage, and they reimbursed me.
That's one of the reasons that I don't reinvest ETFs, even in tax-advantaged. I prefer to have whole lots.
Unfortunately, if you convert Vanguard Admiral Funds to ETFs, you do end up with fractions.

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Tue Mar 06, 2018 7:27 pm

SlowMovingInvestor wrote:
Tue Mar 06, 2018 5:14 pm
Earl Lemongrab wrote:
Tue Mar 06, 2018 4:50 pm
That's one of the reasons that I don't reinvest ETFs, even in tax-advantaged. I prefer to have whole lots.
Unfortunately, if you convert Vanguard Admiral Funds to ETFs, you do end up with fractions.
That would only be a problem once, as the fractionals would be dealt with on transfer, and Vanguard wouldn't charge for the sale.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by investor997 » Tue Mar 06, 2018 8:03 pm

snowman wrote:
Tue Mar 06, 2018 3:09 pm

If you move out of TDA completely and close your accounts, and it's all in ETFs with maybe $10 in cash, how does TDA assess $75 transfer fee?
I'm about to find out. I'll post my experience here after the fact. FWIW, the new brokerage (ME) offered to pay the $75 transfer fee.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Tue Mar 06, 2018 9:20 pm

Interesting thread. I moved 3 out of 4 of my accounts from Vanguard to TDA for $1200 last year (probably posted above). Now that I am a year out, I can transfer again. I just don't know what the minimum is that would make it worth my while. Some seem to have an additional element (savings or checking account) to get the maximum bonus which is an additional aggravation.

Does anyone know if any of the brokerages limit bonuses based on previously being a customer and what the time limit is?

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

Post by whodidntante » Tue Mar 06, 2018 9:23 pm

michaeljc70 wrote:
Tue Mar 06, 2018 9:20 pm
Interesting thread. I moved 3 out of 4 of my accounts from Vanguard to TDA for $1200 last year (probably posted above). Now that I am a year out, I can transfer again. I just don't know what the minimum is that would make it worth my while. Some seem to have an additional element (savings or checking account) to get the maximum bonus which is an additional aggravation.

Does anyone know if any of the brokerages limit bonuses based on previously being a customer and what the time limit is?
I've heard that Schwab bonuses are lifetime, but other places allow repeats. You might have to open a new account rather than fund an existing account, but that isn't a big deal to me. It should be spelled out in the four point font text at the bottom.

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

Post by pre » Tue Mar 06, 2018 10:21 pm

snowman wrote:
Tue Mar 06, 2018 3:09 pm
I have 3 questions, and a little rant. Appreciate all responses.

If you move out of TDA completely and close your accounts, and it's all in ETFs with maybe $10 in cash, how does TDA assess $75 transfer fee?

If you decide to leave the account open, does the ACAT form allow to specify amount of cash to be moved to new account so you know exactly how much you are leaving in TDA?

For other APEX guys that transferred completely out of TDA this year - did TDA waive $75/account fee automatically, or did you have to call CS to get it waived?

I was going to move my big 3 accounts out of TDA over a year ago but never did. Now that they got rid of Vanguard free ETFs there is no reason to stay. I would also like to collect ME signing bonuses.

I called TDA last week to ask if Apex is still available (so the transfer fee is waived), it took multiple times on hold to confirm that. CS wasn't able to email me anything in writing, nor pointing me to their website where the language is.

To top it all off, CS was really concerned that I was going to leave, and asked what he can do to keep me with TDA. I said I would consider retention bonus, to which he said someone from my local branch will call me to discuss it. The guy called couple hours later - asked where I was considering moving. I said ME and gave him specific bonus amounts, plus I said the CS at TDA has deteriorated greatly over the last couple of years. He made a very rude sarcastic comment about ME and hung up on me.

So at this point I would just prefer to completely cut ties with TDA, this is not how I want to be treated, especially after being their customer for 20+ years.
I've done a few transfer outs from TDA, including two this past year. APEX was still active as of late last year, so not ACATS out fee for my accounts. If the transfer out fee is assessed without sufficient balance, it shows as a negative balance in the account and persists during the transfer. I had this happen a few years ago with an IRA, and it stayed negative for almost a year (!) until I made a trade at the receiving/destination broker. That said, most receiving firms will refund and credit your account with the fee after the transfer is complete -- e.g. Merrill is very willing to reimburse.

As for cash transferred -- yes, you initiate the transfer on the receiving firm's side and specific a full or partial transfer. For partials, you can specify exact assets to be moved, including the cash dollar amount.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BCNR » Wed Mar 07, 2018 7:24 am

dbr wrote:
Mon Mar 05, 2018 5:37 pm
investor997 wrote:
Mon Mar 05, 2018 5:09 pm
I plan to transfer a taxable account out of TD Ameritrade. The new custodian already told me they'd refund me the $75 account transfer fee charged by TD Ameritrade. Are there any reasons why I wouldn't want to just transfer the entire account in-kind, or should I leave a little behind? The only thing I can think of is access to account transaction history on the website but if I export/save all that before the transfer, does it matter?
I would never not leave an open account that I can access for some reason or another until I at least had all the tax data for the present year and taxes filed. It is unnerving when the assets are out and your account access ceases the very day.
I recently requested transfer of full account to Schwab while Scottrade to ameritrdae transition is occurring. They initiated my request after the transition. $75 fee Is not charged, may be because scottrade gave one-time no fee trnsfer out to everyone as account holders are forced to join Ameritrade ( in a way).

Since it’s full account transfer, the account was closed and online access to the account immediately ceased. So, there was no access to the assets for 3-4 days until they reached Schwab. When I called ameritrade yesterday that I needed to get Feb statement, they enabled temporary access to the account (48 hr). I would have to call them one more time for temporary access to download the final month statement(March). I downloaded all the tax forms and monthly statements prior to the transfer, just in case.

I did not have any fractional shares , so, not sure how that would have worked. All the assets are transferred as is, for some reason, a small cash amount did not get transferred. Ameritrade sending a check for that. So, it is zero balance now.

When I asked , if I can reactivate the account in future. They said no. Would have to open a new account.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Wed Mar 07, 2018 9:38 am

pre wrote:
Tue Mar 06, 2018 10:21 pm
I've done a few transfer outs from TDA, including two this past year. APEX was still active as of late last year, so not ACATS out fee for my accounts. If the transfer out fee is assessed without sufficient balance, it shows as a negative balance in the account and persists during the transfer. I had this happen a few years ago with an IRA, and it stayed negative for almost a year (!) until I made a trade at the receiving/destination broker. That said, most receiving firms will refund and credit your account with the fee after the transfer is complete -- e.g. Merrill is very willing to reimburse.

As for cash transferred -- yes, you initiate the transfer on the receiving firm's side and specific a full or partial transfer. For partials, you can specify exact assets to be moved, including the cash dollar amount.
Thank you, this is very helpful!

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

Post by pre » Sun Mar 18, 2018 1:41 pm

Reminder for folks that the March 30 deadline for this Money show Merrill offer is quickly approaching.

Probably the most lucrative one ongoing :slight_smile:

Alternately, the Merrill +50% bonus for IRAs only, ending April 17.

Merrill reimburses for all transfer fees

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

Post by SlowMovingInvestor » Sun Mar 18, 2018 2:36 pm

pre wrote:
Sun Mar 18, 2018 1:41 pm
Reminder for folks that the March 30 deadline for this Money show Merrill offer is quickly approaching.

Probably the most lucrative one ongoing :slight_smile:

Alternately, the Merrill +50% bonus for IRAs only, ending April 17.

Merrill reimburses for all transfer fees
I already have 2 ongoing Merill bonuses (still a few months to get them), so I'm not quite willing to try another just yet.

I do have a Scottrade account (now at TDAM) that I can likely move , and I'm wondering about a good home for it :).

Schwab seems to have a bonus only for Stock plan participants. I already collected a bonus from Fido this year. Etrade is similarly ineligible. Any other suggestions from anyone ?

I might even consider Interactive Brokers just because I'm curious about their platform, but no bonus for me, and only a minor referral bonus for the referrer.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by drk » Sun Mar 18, 2018 2:43 pm

SlowMovingInvestor wrote:
Sun Mar 18, 2018 2:36 pm
I already have 2 ongoing Merill bonuses (still a few months to get them), so I'm not quite willing to try another just yet.

I do have a Scottrade account (now at TDAM) that I can likely move , and I'm wondering about a good home for it :).

Schwab seems to have a bonus only for Stock plan participants. I already collected a bonus from Fido this year. Etrade is similarly ineligible. Any other suggestions from anyone ?

I might even consider Interactive Brokers just because I'm curious about their platform, but no bonus for me, and only a minor referral bonus for the referrer.
There's still that Ally offer.

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

Post by pre » Sun Mar 18, 2018 3:04 pm

SlowMovingInvestor wrote:
Sun Mar 18, 2018 2:36 pm
pre wrote:
Sun Mar 18, 2018 1:41 pm
Reminder for folks that the March 30 deadline for this Money show Merrill offer is quickly approaching.

Probably the most lucrative one ongoing :slight_smile:

Alternately, the Merrill +50% bonus for IRAs only, ending April 17.

Merrill reimburses for all transfer fees
I already have 2 ongoing Merill bonuses (still a few months to get them), so I'm not quite willing to try another just yet.

I do have a Scottrade account (now at TDAM) that I can likely move , and I'm wondering about a good home for it :).

Schwab seems to have a bonus only for Stock plan participants. I already collected a bonus from Fido this year. Etrade is similarly ineligible. Any other suggestions from anyone ?

I might even consider Interactive Brokers just because I'm curious about their platform, but no bonus for me, and only a minor referral bonus for the referrer.
Can always try calling Merrill or Etrade or whomever to see about an exception offer. I've done that several times, including with Etrade a few weeks ago. Just tell them how much you'd like to move, preferably in a $250k-1M+ tier. A day later, phone investment rep goes back to marketing, who responds to the phone rep/client "OK, we can code your existing account with the best currently available offer; want any help initiating the transfer today?"

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Sun Mar 18, 2018 3:10 pm

The ones that I have as available, not showing the Edge and Etrade:

TDAmeritrade, expires 9/30/2018, holding period 12m: $50.00 (25K), $200.00 (50K), $500.00 (100K), $1,000.00 (250K)
PNC, expires 6/30/2018, holding period 12m: $50.00 (25K), $100.00 (50K), $200.00 (100K), $600.00 (250K)
FirstTrade, expires 4/17/2018, holding period 12m: $100.00 (25K), $200.00 (50K), $300.00 (100K)
Ally, expires 3/31/2018, holding period 12m: $200.00 (25K)

The TDA probably doesn't help either if you're going to be coming from them.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Sun Mar 18, 2018 3:17 pm

I wanted to report that I recently received the cash bonus for an asset transfer to Schwab. I already had an existing account at Schwab; all I did was to call the local Schwab office and asked them if they will match a competitor's offer (I just had to email the link of the TDA offer to them). The local Schwab office checked with their promotion department and they agreed to match the offer and sent me the agreement in writing.

The bonus was credited about 3 weeks after the asset transfer.
My signature has been deleted.

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

Post by pre » Sun Mar 18, 2018 3:44 pm

indexfundfan wrote:
Sun Mar 18, 2018 3:17 pm
I wanted to report that I recently received the cash bonus for an asset transfer to Schwab. I already had an existing account at Schwab; all I did was to call the local Schwab office and asked them if they will match a competitor's offer (I just had to email the link of the TDA offer to them). The local Schwab office checked with their promotion department and they agreed to match the offer and sent me the agreement in writing.

The bonus was credited about 3 weeks after the asset transfer.
Good work! Have done this matching of a competitor a handful of times with Schwab, as well.

Two downsides, from personal experience -- 1) Schwab matches have all been for the same asset tier/bonus amount, but requires a one year holding period, even when the competitor's offer sheet is often only 45 days or 6 months, etc. and 2) my local Schwab reps are not very accommodating/proactive, so I need to be the one pushing to get marketing involved and checking on the progress.

Have also tried to do multiple accounts/types of accounts and my local rep told me any one account bonus per year :/ Merrill, TDA, Etrade, etc. will all allow multiple bonuses

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by LeftCoast » Sun Mar 18, 2018 4:01 pm

Just received 500 free trades at Fidelity for making a large deposit to my existing account. The free trades are good for 2 years. I'm probably going to use some of the free trades to write covered calls. Last year, I made a similar deposit and received a cash bonus of $600. Unfortunately, half of that is going to the tax man, as they sent me a 1099. I understand that they have some unpublished cash bonuses, but those are for transfers over $1 million.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Sun Mar 18, 2018 4:05 pm

Earl Lemongrab wrote:
Sun Mar 18, 2018 3:10 pm
The ones that I have as available, not showing the Edge and Etrade:

TDAmeritrade, expires 9/30/2018, holding period 12m: $50.00 (25K), $200.00 (50K), $500.00 (100K), $1,000.00 (250K)
PNC, expires 6/30/2018, holding period 12m: $50.00 (25K), $100.00 (50K), $200.00 (100K), $600.00 (250K)
FirstTrade, expires 4/17/2018, holding period 12m: $100.00 (25K), $200.00 (50K), $300.00 (100K)
Ally, expires 3/31/2018, holding period 12m: $200.00 (25K)

The TDA probably doesn't help either if you're going to be coming from them.
I got the TDA last year. I think I got $1400. On the Edge, can you only get one reward or one per type of account? I was able to get multiple at TDA moving multiple accounts. If I can get $1750 that is very tempting. For $1k, semi-tempting.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Sun Mar 18, 2018 4:51 pm

Earl Lemongrab wrote:
Sun Mar 18, 2018 3:10 pm
The ones that I have as available, not showing the Edge and Etrade:

TDAmeritrade, expires 9/30/2018, holding period 12m: $50.00 (25K), $200.00 (50K), $500.00 (100K), $1,000.00 (250K)
PNC, expires 6/30/2018, holding period 12m: $50.00 (25K), $100.00 (50K), $200.00 (100K), $600.00 (250K)
FirstTrade, expires 4/17/2018, holding period 12m: $100.00 (25K), $200.00 (50K), $300.00 (100K)
Ally, expires 3/31/2018, holding period 12m: $200.00 (25K)

The TDA probably doesn't help either if you're going to be coming from them.
Thanks. As you say, TD is out for me, and Ally and FirstTrade seem a bit on the small side. PNC might be worthwhile, but I have no idea what their brokerage is like -- even if I don't intend to use it much, it should be at least tolerable.

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Sun Mar 18, 2018 5:12 pm

SlowMovingInvestor wrote:
Sun Mar 18, 2018 4:51 pm
Thanks. As you say, TD is out for me, and Ally and FirstTrade seem a bit on the small side. PNC might be worthwhile, but I have no idea what their brokerage is like -- even if I don't intend to use it much, it should be at least tolerable.
Ally is small, but you only need 25k. You do have to make three trades as well, so I transferred in some cash I had lying about.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Sun Mar 18, 2018 5:36 pm

Earl Lemongrab wrote:
Sun Mar 18, 2018 5:12 pm
SlowMovingInvestor wrote:
Sun Mar 18, 2018 4:51 pm
Thanks. As you say, TD is out for me, and Ally and FirstTrade seem a bit on the small side. PNC might be worthwhile, but I have no idea what their brokerage is like -- even if I don't intend to use it much, it should be at least tolerable.
Ally is small, but you only need 25k. You do have to make three trades as well, so I transferred in some cash I had lying about.
How much does their 'sweep' account pay in interest ? The same as Ally Bank Checking (0.6%) ?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Sun Mar 18, 2018 7:22 pm

pre wrote:
Sun Mar 18, 2018 3:44 pm
indexfundfan wrote:
Sun Mar 18, 2018 3:17 pm
I wanted to report that I recently received the cash bonus for an asset transfer to Schwab. I already had an existing account at Schwab; all I did was to call the local Schwab office and asked them if they will match a competitor's offer (I just had to email the link of the TDA offer to them). The local Schwab office checked with their promotion department and they agreed to match the offer and sent me the agreement in writing.

The bonus was credited about 3 weeks after the asset transfer.
Good work! Have done this matching of a competitor a handful of times with Schwab, as well.

Two downsides, from personal experience -- 1) Schwab matches have all been for the same asset tier/bonus amount, but requires a one year holding period, even when the competitor's offer sheet is often only 45 days or 6 months, etc. and 2) my local Schwab reps are not very accommodating/proactive, so I need to be the one pushing to get marketing involved and checking on the progress.

Have also tried to do multiple accounts/types of accounts and my local rep told me any one account bonus per year :/ Merrill, TDA, Etrade, etc. will all allow multiple bonuses
Yeah, there is a holding period of one year, although compared to Merrill Edge, Schwab paid out the bonus quicker.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Sun Mar 18, 2018 7:23 pm

indexfundfan wrote:
Sun Mar 18, 2018 7:22 pm
pre wrote:
Sun Mar 18, 2018 3:44 pm
indexfundfan wrote:
Sun Mar 18, 2018 3:17 pm
I wanted to report that I recently received the cash bonus for an asset transfer to Schwab. I already had an existing account at Schwab; all I did was to call the local Schwab office and asked them if they will match a competitor's offer (I just had to email the link of the TDA offer to them). The local Schwab office checked with their promotion department and they agreed to match the offer and sent me the agreement in writing.

The bonus was credited about 3 weeks after the asset transfer.
Good work! Have done this matching of a competitor a handful of times with Schwab, as well.

Two downsides, from personal experience -- 1) Schwab matches have all been for the same asset tier/bonus amount, but requires a one year holding period, even when the competitor's offer sheet is often only 45 days or 6 months, etc. and 2) my local Schwab reps are not very accommodating/proactive, so I need to be the one pushing to get marketing involved and checking on the progress.

Have also tried to do multiple accounts/types of accounts and my local rep told me any one account bonus per year :/ Merrill, TDA, Etrade, etc. will all allow multiple bonuses
Yeah, there is a holding period of one year, although compared to Merrill Edge, Schwab paid out the bonus quicker.
I think the issue isn't the holding period of the one year, but whether you can actually earn a second bonus in a year, maybe by opening a new account , even possibly a new account type (brokerage vs IRA etc.)

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan » Sun Mar 18, 2018 7:28 pm

SlowMovingInvestor wrote:
Sun Mar 18, 2018 7:23 pm
I think the issue isn't the holding period of the one year, but whether you can actually earn a second bonus in a year, maybe by opening a new account , even possibly a new account type (brokerage vs IRA etc.)
I don't actively move my money around to get bonuses. This time, I closed my interactive brokers account to simplify and in doing so, I took advantage of getting a bonus from Schwab.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Sun Mar 18, 2018 7:42 pm

indexfundfan wrote:
Sun Mar 18, 2018 7:28 pm
SlowMovingInvestor wrote:
Sun Mar 18, 2018 7:23 pm
I think the issue isn't the holding period of the one year, but whether you can actually earn a second bonus in a year, maybe by opening a new account , even possibly a new account type (brokerage vs IRA etc.)
I don't actively move my money around to get bonuses. This time, I closed my interactive brokers account to simplify and in doing so, I took advantage of getting a bonus from Schwab.
I think I wasn't clear. I (and I think the OP) was wondering whether it's possible to get a second bonus from Schwab in a year by opening a new account and moving new money there (after having already got a bonus from them in the past 12 months). I gather from your answer that you only opened one new account and hence obtained one bonus in a year.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Mon Mar 19, 2018 12:14 am

SlowMovingInvestor wrote:
Sun Mar 18, 2018 5:36 pm
Earl Lemongrab wrote:
Sun Mar 18, 2018 5:12 pm
Ally is small, but you only need 25k. You do have to make three trades as well, so I transferred in some cash I had lying about.
How much does their 'sweep' account pay in interest ? The same as Ally Bank Checking (0.6%) ?
I don't know. I plan to invest it all in ETFs.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JustinR » Tue Mar 20, 2018 3:37 pm

Is it possible to only convert some shares of a fund to ETF at Vanguard?

That way I can have ETFs to move around for these bonuses, but can still invest new money using index funds.

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Earl Lemongrab
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Tue Mar 20, 2018 5:37 pm

JustinR wrote:
Tue Mar 20, 2018 3:37 pm
Is it possible to only convert some shares of a fund to ETF at Vanguard?

That way I can have ETFs to move around for these bonuses, but can still invest new money using index funds.
Not sure I understand the question. Do you mean "can you convert part of your mutual fund holdings" or "is Vanguard the only place where you can convert"?
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JustinR » Tue Mar 20, 2018 5:43 pm

Earl Lemongrab wrote:
Tue Mar 20, 2018 5:37 pm
JustinR wrote:
Tue Mar 20, 2018 3:37 pm
Is it possible to only convert some shares of a fund to ETF at Vanguard?

That way I can have ETFs to move around for these bonuses, but can still invest new money using index funds.
Not sure I understand the question. Do you mean "can you convert part of your mutual fund holdings" or "is Vanguard the only place where you can convert"?
Both. My money is with Vanguard which is why I'm asking specifically whether you can do it there.

Like if I had 200k of VTSAX but only wanted to convert 100k of it to ETF for moving to Merrill Edge.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Nate79 » Tue Mar 20, 2018 5:47 pm

Yes you can convert some to the ETF. When you call up Vanguard they will ask you how much do you want to convert. It's a very easy process.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 » Tue Mar 20, 2018 5:48 pm

TDAmeritrade has a $50 for $5000 “income tax refund” deposit. But it can be any $5000. Doesn’t appear to be any lock up. $50 bucks to run $5000 thru them, I’d do that. Dinner out for tying up $5,000 for a few days.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Tue Mar 20, 2018 5:54 pm

Leesbro63 wrote:
Tue Mar 20, 2018 5:48 pm
TDAmeritrade has a $50 for $5000 “income tax refund” deposit. But it can be any $5000. Doesn’t appear to be any lock up. $50 bucks to run $5000 thru them, I’d do that. Dinner out for tying up $5,000 for a few days.
Received the email, too, but in the fine text, suggests it has to remain for 12 months...
Offer valid for clients who respond to the offer and make a qualifying deposit to their TD Ameritrade account by 07/31/18. To receive $20 bonus, account must be funded with $2,500-$4,999. To receive $50 bonus, account must be funded with $5,000 or more. Offer is not transferable and not valid with internal transfers, accounts managed by TD Ameritrade Investment Management, LLC, TD Ameritrade Institutional accounts, or with other offers. Limit one offer per client. Account value of the qualifying account must remain equal to or greater than, the value after the net deposit was made (minus any losses due to trading or market volatility or margin debit balances) for 12 months, or TD Ameritrade may charge the account for the cost of the offer at its sole discretion. Net deposits are assets deposited into the account minus assets withdrawn from the account and transferred out of TD Ameritrade.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 » Tue Mar 20, 2018 6:52 pm

Darn. There goes my free dinner

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by michaeljc70 » Tue Mar 20, 2018 6:57 pm

pre wrote:
Sun Mar 18, 2018 3:44 pm
indexfundfan wrote:
Sun Mar 18, 2018 3:17 pm
I wanted to report that I recently received the cash bonus for an asset transfer to Schwab. I already had an existing account at Schwab; all I did was to call the local Schwab office and asked them if they will match a competitor's offer (I just had to email the link of the TDA offer to them). The local Schwab office checked with their promotion department and they agreed to match the offer and sent me the agreement in writing.

The bonus was credited about 3 weeks after the asset transfer.
Good work! Have done this matching of a competitor a handful of times with Schwab, as well.

Two downsides, from personal experience -- 1) Schwab matches have all been for the same asset tier/bonus amount, but requires a one year holding period, even when the competitor's offer sheet is often only 45 days or 6 months, etc. and 2) my local Schwab reps are not very accommodating/proactive, so I need to be the one pushing to get marketing involved and checking on the progress.

Have also tried to do multiple accounts/types of accounts and my local rep told me any one account bonus per year :/ Merrill, TDA, Etrade, etc. will all allow multiple bonuses
So, if I transfer 3 accounts I can get 3 bonuses at Merrill? Or do they aggregate and then give the bonus based on the total? I am looking for 3 separate bonuses based on the amount transferred in each account.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Mon Mar 26, 2018 2:06 pm

So I finally decided to move from TDA to ME. All I have are retirement accounts - big IRA for each of us, and small Roth for myself. I spoke with ME and was told that only one IRA per account holder qualifies for any of their bonus offer, even if the bonus offers are different. So both traditional IRAs will get $1K bonus, but the small Roth (60K) will get nothing (not even $150 bonus).

I looked at options to collect bonus on that Roth account, and the only one I was able to find was $100 at Schwab. Both Etrade and Ally offer bigger bonuses but both exclude retirement accounts.

Are there other options besides Schwab that you are aware of? If not, do you think it's worth it to call Schwab and ask to match ME bonus of $250? I have never been a client of Schwab if that matters.

Thanks!

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Tue Mar 27, 2018 12:02 am

You could get $200 at FirstTrade. Includes IRAs.

https://www.firstrade.com/landing/en-us ... conditions
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by motorcyclesarecool » Tue Mar 27, 2018 5:41 am

I’m considering moving part of our Roth retirement accounts to TDA for the bonus. Two questions:
1. Can brokered CDs be transferred in-kind to TDA or would they need to be liquidated?
2. Would the bonus count as a contribution or as some sort of earnings on the account?
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Earl Lemongrab » Tue Mar 27, 2018 10:22 am

motorcyclesarecool wrote:
Tue Mar 27, 2018 5:41 am
I’m considering moving part of our Roth retirement accounts to TDA for the bonus. Two questions:
1. Can brokered CDs be transferred in-kind to TDA or would they need to be liquidated?
2. Would the bonus count as a contribution or as some sort of earnings on the account?
I don't know about 1, but 2 is that for an IRA it would not be a contribution.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by lazyday » Tue Mar 27, 2018 10:46 am

motorcyclesarecool wrote:
Tue Mar 27, 2018 5:41 am
1. Can brokered CDs be transferred in-kind to TDA or would they need to be liquidated?
Probably ok to transfer. See the last 2 posts here: viewtopic.php?t=187401#p2843660

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Tue Mar 27, 2018 12:06 pm

Earl Lemongrab wrote:
Tue Mar 27, 2018 12:02 am
You could get $200 at FirstTrade. Includes IRAs.

https://www.firstrade.com/landing/en-us ... conditions
Thank you!

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