TDAmeritrade - Free Trades - ?How To?

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TallBoy29er
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TDAmeritrade - Free Trades - ?How To?

Post by TallBoy29er » Wed May 16, 2018 7:33 am

For those of you who are with TDA, and say that you get free trades on an ongoing basis, could you tell me the conversation you are having? Boiled down I have three questions:

What is the leverage point (leaving, not happy, others offer it, etc.)?
Who are you talking with (using secure email, general 800 number, your client rep)?
How often do you have the conversations?

I am trying to decide whether I want to keep adding to my positions at TDA after they changed their No Fee ETF list (I would like to stay in Vanguard funds), of if I should move. I'd rather not move if I don't have to. Something about inertia of rest.

bloom2708
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Re: TDAmeritrade - Free Trades - ?How To?

Post by bloom2708 » Wed May 16, 2018 7:58 am

For the long term, if you want Vanguard funds, move to Vanguard now.

'Free trades' imply this is some great benefit. If you are at Vanguard, there is no charge (ever) to buy Vanguard funds. No 'free trades' needed.

If you go with a Boglehead style portfolio, you don't need to "trade". You invest when you have funds to invest. Stay fully invested. Tax loss harvesting in your taxable account will require exchanges. Re-balancing requires exchanges.

ETFs and free trades are marketing to get you to buy and sell based on some feeling or number. Avoid the noise and skip the 'free trades'.
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jhfenton
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Re: TDAmeritrade - Free Trades - ?How To?

Post by jhfenton » Wed May 16, 2018 8:16 am

bloom2708 wrote:
Wed May 16, 2018 7:58 am
For the long term, if you want Vanguard funds, move to Vanguard now.
That's not always possible. I'd love to move my HSA to Vanguard, but at the moment Lively+TD Ameritrade is the best option.

When I first moved my HSA to TD Ameritrade last fall, I used secure messaging to request a few free trades. I used the just-announced dropping of Vanguard ETFs as my justification. Twice, they said that they couldn't, but I knew that they could, because they had for us in the past, so I persisted. They agreed after my third message. I was very polite. I just shot down their arguments.

When we had all our accounts at TD Ameritrade for nearly 20 years it was easier. At that time, I would call on the phone. I did it a handful (4-5 times) over the previous 10 years. I think the more that you have, the more they want to keep you happy.

I'm going to try again this fall to ask for 1-2 free trades, but I don't know how well it will go. We only have the HSA with $50+K. I need to think of a compelling reason. :beer

Bonne chance !

livesoft
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Re: TDAmeritrade - Free Trades - ?How To?

Post by livesoft » Wed May 16, 2018 8:25 am

Go sit across the desk of the person in the local TDAmeritrade office that you are supposed to deal with. Discuss your mutual future in a friendly way. Free trades flow accordingly. Most of the free trades they gave me expired unused.

You might even read "How to Win Friends and Influence People" by Dale Carnegie.
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jhfenton
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Re: TDAmeritrade - Free Trades - ?How To?

Post by jhfenton » Wed May 16, 2018 8:32 am

livesoft wrote:
Wed May 16, 2018 8:25 am
Go sit across the desk of the person in the local TDAmeritrade office that you are supposed to deal with. Discuss your mutual future in a friendly way. Free trades flow accordingly. Most of the free trades they gave me expired unused.

You might even read "How to Win Friends and Influence People" by Dale Carnegie.
+1 The likelihood of getting free trades increasing with the discomfort the person will experience in telling you no. Face-to-face nos are hardest. Over the phone is a bit easier. It's easiest to say no via email.

The tradeoff is time. I literally want 1-2 free trades a year now, so I'm not going to visit in person. If I were remaking an entire portfolio and needed a bunch of trades, I'd consider paying a visit.

TallBoy29er
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Re: TDAmeritrade - Free Trades - ?How To?

Post by TallBoy29er » Wed May 16, 2018 3:41 pm

Very helpful all, thank you. Looks like there are varied experiences based on method. The fact is, making a visit to an office isn't attractive as it's about 25 minutes (or 60+ in traffic) to get to. But if that's where I need to get to, I can at least decide on that set of facts.

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Pajamas
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Re: TDAmeritrade - Free Trades - ?How To?

Post by Pajamas » Wed May 16, 2018 3:53 pm

TallBoy29er wrote:
Wed May 16, 2018 7:33 am

I am trying to decide whether I want to keep adding to my positions at TDA after they changed their No Fee ETF list (I would like to stay in Vanguard funds), of if I should move. I'd rather not move if I don't have to. Something about inertia of rest.
I wouldn't make the decision based on free trades. If that really is the deciding factor, then tell them that you will move your account unless they give you X number of free trades a year because you prefer Vanguard ETFs.

I ended up at TD Ameritrade years ago after a series of brokerage firm buyouts but left soon after because of their terrible customer service including giving me incorrect information about when they could accept a form. That misinformation cost me several thousand dollars in taxes and they didn't care even though the call was of course recorded. So my advice would be to find a new broker, regardless. That would be especially true if you are getting no special consideration from them.

TallBoy29er
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Re: TDAmeritrade - Free Trades - ?How To?

Post by TallBoy29er » Wed May 16, 2018 3:57 pm

^^ And that's it. I'm getting no benefits from them, as I'm not an "active" trader so their trading platforms have no value to me. I do monthly taxable investments, and do shift my AA around using my Roth. So it is enough trades and $ to make me want the free trades.

Pajamas you summed it up well. With no special consideration based on assets invested, what's the point in staying.

livesoft
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Re: TDAmeritrade - Free Trades - ?How To?

Post by livesoft » Wed May 16, 2018 4:00 pm

I'm surprised you didn't transfer everything to Vanguard already.
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TallBoy29er
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Re: TDAmeritrade - Free Trades - ?How To?

Post by TallBoy29er » Wed May 16, 2018 6:22 pm

livesoft wrote:
Wed May 16, 2018 4:00 pm
I'm surprised you didn't transfer everything to Vanguard already.
Baited into this comment ( :o ), but with what I've read on here recently re Vanguard, I'm steering toward Schwab. We'll see if I can get a deal I can live with after we're done talking. If not, Vanguard may be my final resting place.

livesoft
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Re: TDAmeritrade - Free Trades - ?How To?

Post by livesoft » Wed May 16, 2018 8:06 pm

I imagine with Schwab that you will end up with Schwab ETFs and Schwab funds if you require free trades. In that case, you could stay with TDAmeritrade and use the non-Vanguard no-commission ETFs that they offer.
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whodidntante
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Re: TDAmeritrade - Free Trades - ?How To?

Post by whodidntante » Wed May 16, 2018 8:11 pm

I said "grumble grumble you changed the commission free ETF list, can I have 10 free trades?" I got a reply that said, "yes, absolutely! Here are 10 free trades!"

livesoft
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Re: TDAmeritrade - Free Trades - ?How To?

Post by livesoft » Wed May 16, 2018 8:29 pm

I will say this: Two ETFs that I use are still free trade at TDAmeritrade (and WellsTrade for me) and not at Vanguard: DGS and MTUM.
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