The Final, Definitive Thread on Brokerage Transfer Bonuses

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

Post by indexfundfan » Sat Sep 14, 2019 6:12 pm

newenglandpat wrote:
Sat Sep 14, 2019 5:46 pm
808 wrote:
Sat Sep 14, 2019 5:28 pm
newenglandpat wrote:
Sat Sep 14, 2019 5:22 pm
how do you get to 2.62% back with BOA cash rewards card? I see (below) 1% unlimited, 3% (up to $2500/qtr) for online making preferred rewards = 1.75% everything and 5.25% for online
Premium Rewards credit card
2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.

2.0 * 1.75 = 3.5%
1.5 * 1.75 = 2.62%

Combine this card with the Cash Rewards for 5.25% in one category (per card, you can have more than one).
true, but is the $95/year fee worth it?? I've never paid a penny for credit card fees...EVER!!
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
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frcabot
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by frcabot » Sun Sep 15, 2019 12:35 pm

It’s worth it to me even before the travel rebates. I previously had the fidelity rewards credit card, free with 2% on everything. Now, with a cash back rate of between 2.62 and 3.5%, I still get way more cash back even after a $95 annual fee (plus, my annual fee was comped this year). It all depends on your credit card spend, but mine is high enough (several thousand dollars per month) that the extra cash back easily pays for the $95 (plus there was a $500 bonus so...).

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Sun Sep 15, 2019 6:01 pm

You can get more than one cash rewards card too which will give you multiple 5.25% categories now that they let you choose so I have one for gas and one for drug stores.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by investor997 » Sun Sep 15, 2019 6:17 pm

frcabot wrote:
Sun Sep 15, 2019 12:35 pm
It’s worth it to me even before the travel rebates. I previously had the fidelity rewards credit card, free with 2% on everything. Now, with a cash back rate of between 2.62 and 3.5%, I still get way more cash back even after a $95 annual fee (plus, my annual fee was comped this year). It all depends on your credit card spend, but mine is high enough (several thousand dollars per month) that the extra cash back easily pays for the $95 (plus there was a $500 bonus so...).
How'd you get the annual fee on the Premium Rewards card comped? Did you threaten to cancel?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Eno Deb » Sun Sep 15, 2019 10:36 pm

indexfundfan wrote:
Sat Sep 14, 2019 6:12 pm
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
Can you actually transfer the points from the Travel Rewards card and if yes, where?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj » Mon Sep 16, 2019 10:33 am

Eno Deb wrote:
Sun Sep 15, 2019 10:36 pm
indexfundfan wrote:
Sat Sep 14, 2019 6:12 pm
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
Can you actually transfer the points from the Travel Rewards card and if yes, where?
BofA worldpoints or whatever they are called now. You used to be able to transfer them to the Fidelity card and redeem as cashback, but the Fidelity card moved from FIA to Elan.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Mon Sep 16, 2019 12:50 pm

Eno Deb wrote:
Sun Sep 15, 2019 10:36 pm
indexfundfan wrote:
Sat Sep 14, 2019 6:12 pm
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
Can you actually transfer the points from the Travel Rewards card and if yes, where?
I transfer them to the Premium Rewards card for cash redemption.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Mon Sep 16, 2019 12:52 pm

Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by frcabot » Mon Sep 16, 2019 1:28 pm

investor997 wrote:
Sun Sep 15, 2019 6:17 pm
frcabot wrote:
Sun Sep 15, 2019 12:35 pm
It’s worth it to me even before the travel rebates. I previously had the fidelity rewards credit card, free with 2% on everything. Now, with a cash back rate of between 2.62 and 3.5%, I still get way more cash back even after a $95 annual fee (plus, my annual fee was comped this year). It all depends on your credit card spend, but mine is high enough (several thousand dollars per month) that the extra cash back easily pays for the $95 (plus there was a $500 bonus so...).
How'd you get the annual fee on the Premium Rewards card comped? Did you threaten to cancel?
I have a big account at Merrill.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by frcabot » Mon Sep 16, 2019 1:29 pm

whodidntante wrote:
Mon Sep 16, 2019 12:52 pm
Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)
Not AFAIK but maybe the preferred reward bonus will come back. The trader expo offer expired a couple weeks ago.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Mon Sep 16, 2019 1:37 pm

whodidntante wrote:
Mon Sep 16, 2019 12:52 pm
Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)
Elevated promotion for the San Francisco Money Show is currently active, expires October 17:
https://www.merrilledge.com/offers/1000 ... w-_-sfms19

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Eno Deb » Mon Sep 16, 2019 1:55 pm

whodidntante wrote:
Mon Sep 16, 2019 12:50 pm
Eno Deb wrote:
Sun Sep 15, 2019 10:36 pm
indexfundfan wrote:
Sat Sep 14, 2019 6:12 pm
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
Can you actually transfer the points from the Travel Rewards card and if yes, where?
I transfer them to the Premium Rewards card for cash redemption.
Hm, that kind of defeats the purpose. I asked because the Travel Rewards card is a potential no-annual-fee alternative to the Premium Rewards that gets the same 2.62% for general expenses. If I had both, I could just use the Premium Rewards directly since it has the same or higher rewards rates for all types of expenses.

Is it possible to transfer points from the Travel Rewards to a Cash Rewards card too?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Mon Sep 16, 2019 2:39 pm

Eno Deb wrote:
Mon Sep 16, 2019 1:55 pm
whodidntante wrote:
Mon Sep 16, 2019 12:50 pm
Eno Deb wrote:
Sun Sep 15, 2019 10:36 pm
indexfundfan wrote:
Sat Sep 14, 2019 6:12 pm
The BofA travel rewards card has no annual fee. The rebate is 2.625% for everything you spend (after the 1.5x multiplier). You do need to redeem it for travel expenses or transfer the points elsewhere to cash out.
Can you actually transfer the points from the Travel Rewards card and if yes, where?
I transfer them to the Premium Rewards card for cash redemption.
Hm, that kind of defeats the purpose. I asked because the Travel Rewards card is a potential no-annual-fee alternative to the Premium Rewards that gets the same 2.62% for general expenses. If I had both, I could just use the Premium Rewards directly since it has the same or higher rewards rates for all types of expenses.

Is it possible to transfer points from the Travel Rewards to a Cash Rewards card too?
Depends. I recently received a targetted spending bonus on my travel rewards card. It was for an extra $100 on $5,000 in spending, above the 2.62%. So I used the card to pay my property taxes and I needed a way to convert all those points to cash.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Tue Sep 17, 2019 10:55 pm

pre wrote:
Mon Sep 16, 2019 1:37 pm
whodidntante wrote:
Mon Sep 16, 2019 12:52 pm
Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)
Elevated promotion for the San Francisco Money Show is currently active, expires October 17:
https://www.merrilledge.com/offers/1000 ... w-_-sfms19
Thanks. I grabbed this offer. I needed to bring some money over to requalify for platinum honors, so I thought I should earn a bonus while I'm at it.

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

Post by motorcyclesarecool » Wed Sep 18, 2019 5:24 am

I was hoping for a better bonus at the $100k level but clicked anyway. Looks like the bonuses just increased by a lot. Looks like I’m moving soon.

$100 ($20k)
$250 ($50k)
$500 ($100k)
$1000 ($200k)
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 placeholder » Wed Sep 18, 2019 4:18 pm

motorcyclesarecool wrote:
Wed Sep 18, 2019 5:24 am
I was hoping for a better bonus at the $100k level but clicked anyway. Looks like the bonuses just increased by a lot. Looks like I’m moving soon.

$100 ($20k)
$250 ($50k)
$500 ($100k)
$1000 ($200k)
That's the usual for the money show offers which technically say you have to attend but they don't check.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jcar » Wed Sep 18, 2019 4:56 pm

So if you move 200k now then 200k a month later does that double the bonus. Thanks

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Wed Sep 18, 2019 4:59 pm

jcar wrote:
Wed Sep 18, 2019 4:56 pm
So if you move 200k now then 200k a month later does that double the bonus. Thanks
I think they allow two bonuses per 12 months anyway I did one to individual and one to Roth in January and received 1000 in each.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre » Wed Sep 18, 2019 5:17 pm

placeholder wrote:
Wed Sep 18, 2019 4:59 pm
jcar wrote:
Wed Sep 18, 2019 4:56 pm
So if you move 200k now then 200k a month later does that double the bonus. Thanks
I think they allow two bonuses per 12 months anyway I did one to individual and one to Roth in January and received 1000 in each.
Right, it's one bonus each rolling 12 month period, for each CMA and IRA

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by motorcyclesarecool » Mon Sep 23, 2019 7:46 pm

Initiated transfer of assets from TDA to Merrill on Sunday. Got a call from local TDA rep today asking what he can do to keep our business. I told him he could give us a $500 retention bonus. He countered with $500 + $200 in cash or gift cards if we were to transfer in another six figures. I said that we could, but that some of it was in taxable brokerage accounts; where would the bonuses be credited? He indicated that in this instance it would have to be in our taxable brokerage account.

I’m weighing the value of a $700 taxable bonus for staying with TDA and rolling more money in from Fidelity and Vanguard, versus $500 in free Roth space by rolling TDA to Merrill Edge? I value the Roth space more highly. Am I crazy?
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 indexfundfan » Mon Sep 23, 2019 8:17 pm

motorcyclesarecool wrote:
Mon Sep 23, 2019 7:46 pm
Initiated transfer of assets from TDA to Merrill on Sunday. Got a call from local TDA rep today asking what he can do to keep our business. I told him he could give us a $500 retention bonus. He countered with $500 + $200 in cash or gift cards if we were to transfer in another six figures. I said that we could, but that some of it was in taxable brokerage accounts; where would the bonuses be credited? He indicated that in this instance it would have to be in our taxable brokerage account.

I’m weighing the value of a $700 taxable bonus for staying with TDA and rolling more money in from Fidelity and Vanguard, versus $500 in free Roth space by rolling TDA to Merrill Edge? I value the Roth space more highly. Am I crazy?
So in effect TDA is offering you $200 to transfer in six figures from Fidelity and Vanguard. Is this a good deal? Maybe.

If TDA is serious about matching Merrill, you could ask TDA to put the $500 bonus into the Roth, and the $200 bonus into the taxable account where you transfer in the six figures.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by rascott » Mon Sep 23, 2019 9:17 pm

pre wrote:
Mon Sep 16, 2019 1:37 pm
whodidntante wrote:
Mon Sep 16, 2019 12:52 pm
Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)
Elevated promotion for the San Francisco Money Show is currently active, expires October 17:
https://www.merrilledge.com/offers/1000 ... w-_-sfms19
Looks like they got rid of all the nonsense about having to join Preferred Rewards and open a checking account. And cleared up the free trades issues.... took me 2+ months to get free trades enabled earlier this year.

But now it's 180 days until you get the bonus.... up from 90

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

Post by tj » Mon Sep 23, 2019 10:06 pm

rascott wrote:
Mon Sep 23, 2019 9:17 pm
pre wrote:
Mon Sep 16, 2019 1:37 pm
whodidntante wrote:
Mon Sep 16, 2019 12:52 pm
Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)
Elevated promotion for the San Francisco Money Show is currently active, expires October 17:
https://www.merrilledge.com/offers/1000 ... w-_-sfms19
Looks like they got rid of all the nonsense about having to join Preferred Rewards and open a checking account. And cleared up the free trades issues.... took me 2+ months to get free trades enabled earlier this year.

But now it's 180 days until you get the bonus.... up from 90
It was always 180 for the higher bonus.

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

Post by rascott » Mon Sep 23, 2019 10:48 pm

tj wrote:
Mon Sep 23, 2019 10:06 pm
rascott wrote:
Mon Sep 23, 2019 9:17 pm
pre wrote:
Mon Sep 16, 2019 1:37 pm
whodidntante wrote:
Mon Sep 16, 2019 12:52 pm
Are there any new Merrill Edge cash bonuses that are better than the public offer?

Cash reward
$100 (20k)
$150 (50k)
$250 (100k)
$600 (200k)
Elevated promotion for the San Francisco Money Show is currently active, expires October 17:
https://www.merrilledge.com/offers/1000 ... w-_-sfms19
Looks like they got rid of all the nonsense about having to join Preferred Rewards and open a checking account. And cleared up the free trades issues.... took me 2+ months to get free trades enabled earlier this year.

But now it's 180 days until you get the bonus.... up from 90
It was always 180 for the higher bonus.
Nah...I got $900 in 90 days just a few months back.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MathIsMyWayr » Tue Sep 24, 2019 12:02 am

indexfundfan wrote:
Mon Sep 23, 2019 8:17 pm
motorcyclesarecool wrote:
Mon Sep 23, 2019 7:46 pm
Initiated transfer of assets from TDA to Merrill on Sunday. Got a call from local TDA rep today asking what he can do to keep our business. I told him he could give us a $500 retention bonus. He countered with $500 + $200 in cash or gift cards if we were to transfer in another six figures. I said that we could, but that some of it was in taxable brokerage accounts; where would the bonuses be credited? He indicated that in this instance it would have to be in our taxable brokerage account.

I’m weighing the value of a $700 taxable bonus for staying with TDA and rolling more money in from Fidelity and Vanguard, versus $500 in free Roth space by rolling TDA to Merrill Edge? I value the Roth space more highly. Am I crazy?
So in effect TDA is offering you $200 to transfer in six figures from Fidelity and Vanguard. Is this a good deal? Maybe.

If TDA is serious about matching Merrill, you could ask TDA to put the $500 bonus into the Roth, and the $200 bonus into the taxable account where you transfer in the six figures.
So, TDA has to find a way to make up for $700 from motorcyclesarecool's investment? :confused

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

Post by placeholder » Tue Sep 24, 2019 1:00 pm

rascott wrote:
Mon Sep 23, 2019 10:48 pm
Nah...I got $900 in 90 days just a few months back.
That's a different offer just the normal $600 one but boosted by 50% for Preferred Rewards while the other is $1000 and no PR needed.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Tue Oct 01, 2019 9:31 pm

Today I felt a great disturbance in the force. It's as though the marketing managers for dozens of brokers cried out and shifted to commission-free trades instead of brokerage transfer bonuses. The Great Interactive Brokening of 2019 has arrived.

I humbly suggest that if you've been eyeing a bonus, that you immediate pounce on it. It might not be there tomorrow.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by LadyGeek » Tue Oct 01, 2019 9:38 pm

The force is what gives us this power. It is an energy field created by a firm with more than $3.7 trillion in client assets. I fear something has happened.

Yes, it has: Charles Schwab (SCHW) Eliminating Commissions for Stocks, ETFs and Options Listed on U.S. or Canadian Exchanges
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by motorcyclesarecool » Wed Oct 02, 2019 3:38 am

whodidntante wrote:
Tue Oct 01, 2019 9:31 pm
Today I felt a great disturbance in the force. It's as though the marketing managers for dozens of brokers cried out and shifted to commission-free trades instead of brokerage transfer bonuses. The Great Interactive Brokening of 2019 has arrived.

I humbly suggest that if you've been eyeing a bonus, that you immediate pounce on it. It might not be there tomorrow.
Sure enough, I just received notification in my email at 2:12 this morning that TDA is introducing “commission-free online equity trades.”
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.

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

Post by placeholder » Thu Oct 03, 2019 1:44 pm

Doesn't necessarily mean that they'll be getting rid of bonuses because when everyone is zero they'll be back to figuring out how to attract assets.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by lazyday » Thu Oct 03, 2019 2:10 pm

I also wouldn't assume that bonuses will go away. Of course they could, or they could become more difficult to get if you're a "demon customer". Or maybe brokers will focus on other revenue sources.

For example, it wouldn't shock me if Fidelity is forced to raise the ER on money market funds, and cut commissions to 0. Price improvement is probably difficult to sell people on, while Schwab earns $$$ on cash balances.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Fri Oct 04, 2019 7:38 pm

Schwab actually has it's first bonus in a while for existing customers

https://www.schwab.com/public/schwab/nn ... eward.html

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student » Fri Oct 04, 2019 7:58 pm

SlowMovingInvestor wrote:
Fri Oct 04, 2019 7:38 pm
Schwab actually has it's first bonus in a while for existing customers

https://www.schwab.com/public/schwab/nn ... eward.html

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.
I just saw the news. Too bad I have nothing to transfer. This may not be available often in the future.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Sat Oct 05, 2019 7:53 am

Has anyone checked whether the 'referral bonus' can be used by previous (but not current Schwab customers) ?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante » Sat Oct 05, 2019 8:00 am

student wrote:
Fri Oct 04, 2019 7:58 pm
SlowMovingInvestor wrote:
Fri Oct 04, 2019 7:38 pm
Schwab actually has it's first bonus in a while for existing customers

https://www.schwab.com/public/schwab/nn ... eward.html

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.
I just saw the news. Too bad I have nothing to transfer. This may not be available often in the future.
Me too. Every bonus worthy chunk of securities is currently earning me a bonus somewhere.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover » Thu Oct 10, 2019 11:00 am

Given that trades are free at most brokerages now (Vanguard and MerrillEdge seem to be the holdouts), it seems that brokers will have to offer incentives other than free trades to attract new investments. Hopefully this will set off a new round of cash bonuses, including from Fidelity.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Thu Oct 10, 2019 6:57 pm

SlowMovingInvestor wrote:
Fri Oct 04, 2019 7:38 pm
Schwab actually has it's first bonus in a while for existing customers

https://www.schwab.com/public/schwab/nn ... eward.html

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.
Doctor of Credit reports a user saying that a Schwab agent said this bonus may last only a short while because of demand. Could be standard sales pitch, of course.

I'll have to check if Schwab will pro-rate the bonus over 2 accounts (IRA + regular).

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by GeraniumLover » Fri Oct 11, 2019 8:55 am

SlowMovingInvestor wrote:
Thu Oct 10, 2019 6:57 pm
SlowMovingInvestor wrote:
Fri Oct 04, 2019 7:38 pm
Schwab actually has it's first bonus in a while for existing customers

https://www.schwab.com/public/schwab/nn ... eward.html

Not that great, the Schwab referral bonus I linked to earlier is better in some ways, but that may only hold for new to Schwab customers.
Doctor of Credit reports a user saying that a Schwab agent said this bonus may last only a short while because of demand. Could be standard sales pitch, of course.
If that's the case, it probably make sense if you are interested in this offer to apply for the account ASAP and decide over the next 45 days whether to keep it.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor » Fri Oct 11, 2019 5:07 pm

A Schwab rep told me that they could move Vanguard Admiral Funds over, but would not allow transactions (I.e. no sales). Surprising, frankly.

I am not sure the rep was correct. Anyone have any experience in this ?

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by neilpilot » Fri Oct 11, 2019 9:31 pm

SlowMovingInvestor wrote:
Fri Oct 11, 2019 5:07 pm
A Schwab rep told me that they could move Vanguard Admiral Funds over, but would not allow transactions (I.e. no sales). Surprising, frankly.

I am not sure the rep was correct. Anyone have any experience in this ?
Really? I suspect you can hold Admiral funds in your Schwartz account, sell them as well, but not buy more. That’s the way it was with another broker I used.

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

Post by SlowMovingInvestor » Sat Oct 12, 2019 5:13 pm

neilpilot wrote:
Fri Oct 11, 2019 9:31 pm
SlowMovingInvestor wrote:
Fri Oct 11, 2019 5:07 pm
A Schwab rep told me that they could move Vanguard Admiral Funds over, but would not allow transactions (I.e. no sales). Surprising, frankly.

I am not sure the rep was correct. Anyone have any experience in this ?
Really? I suspect you can hold Admiral funds in your Schwartz account, sell them as well, but not buy more. That’s the way it was with another broker I used.
That's what I would have figured too. I think the rep made a mistake. He did say that dividends can be reinvested (although I wasn't interested in that).

Not much point in allowing transfer of a fund that you can't sell !

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

Post by aristotelian » Sat Oct 12, 2019 5:50 pm

SlowMovingInvestor wrote:
Fri Oct 11, 2019 5:07 pm
A Schwab rep told me that they could move Vanguard Admiral Funds over, but would not allow transactions (I.e. no sales). Surprising, frankly.

I am not sure the rep was correct. Anyone have any experience in this ?
That doesn't sound right to me either, but if it's true a workaround would be to call Vanguard and ask them to switch to the ETF. Unfortunately you do need to call but my understanding is they will now convert mutual fund to ETF with no taxable event.

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

Post by SlowMovingInvestor » Sat Oct 12, 2019 5:54 pm

aristotelian wrote:
Sat Oct 12, 2019 5:50 pm
SlowMovingInvestor wrote:
Fri Oct 11, 2019 5:07 pm
A Schwab rep told me that they could move Vanguard Admiral Funds over, but would not allow transactions (I.e. no sales). Surprising, frankly.

I am not sure the rep was correct. Anyone have any experience in this ?
That doesn't sound right to me either, but if it's true a workaround would be to call Vanguard and ask them to switch to the ETF. Unfortunately you do need to call but my understanding is they will now convert mutual fund to ETF with no taxable event.
These are some of VG's MFs (active) that have no equivalent ETFs and are not convertible. Too much embedded gain to sell too.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Sun Oct 13, 2019 2:22 pm

SlowMovingInvestor wrote:
Fri Sep 06, 2019 12:26 pm
Not a bad Schwab bonus,

https://www.schwab.com/public/schwab/nn ... spect.html

You do need a referral.
Thank you. Got the latest Merrill bonus 2 weeks ago, and was just wondering where to move my IRA next. Opened my first ever Schwab account last week using this link. I find $300 bonus for $50K asset transfer generous, and now it comes with $0 commissions as well. Thanks again.

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by snowman » Sun Oct 13, 2019 2:28 pm

snowman wrote:
Tue Mar 05, 2019 3:56 pm
Do you guys know from experience if this is allowed to collect the bonus at ME?

I opened new Rollover IRA and funded it April 2018. Bonus showed up 3 months later. I moved the account back to TDA last month, and there is some residual money left in the account. Is it possible to keep that account open, and open new Rollover IRA with the latest bonus code ORLMS19, and collect the bonus 6 months later?

Reading the small print it seems this should be allowed (it is new account after all), but I don’t want to take the chance, and I certainly don’t want to call ME. Hoping that some of you veterans have done it before and know the answer.

Thanks again!
I am answering my own question here for the benefit of this community. Based on my own personal experience, the answer to question above is yes.

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

Post by CoastalWinds » Sun Oct 13, 2019 2:38 pm

Following ...

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder » Sun Oct 13, 2019 6:04 pm

I have opened a number of Edge accounts for new bonuses as I try to get some every year.

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

Post by SlowMovingInvestor » Sun Oct 13, 2019 7:49 pm

snowman wrote:
Sun Oct 13, 2019 2:22 pm
SlowMovingInvestor wrote:
Fri Sep 06, 2019 12:26 pm
Not a bad Schwab bonus,

https://www.schwab.com/public/schwab/nn ... spect.html

You do need a referral.
Thank you. Got the latest Merrill bonus 2 weeks ago, and was just wondering where to move my IRA next. Opened my first ever Schwab account last week using this link. I find $300 bonus for $50K asset transfer generous, and now it comes with $0 commissions as well. Thanks again.
I wonder if one can use the referral Schwab bonus to get one bonus, then use the transfer to account bonus to get another bonus for that account.

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

Post by LuigiLikesPizza » Tue Oct 15, 2019 2:03 pm

I'm likely to have about $200K to rollover/bring into a new brokerage in the next few weeks.

Is this Schwab offer, currently the most beneficial? anyone know? thanks

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

Post by SlowMovingInvestor » Tue Oct 15, 2019 3:38 pm

LuigiLikesPizza wrote:
Tue Oct 15, 2019 2:03 pm
I'm likely to have about $200K to rollover/bring into a new brokerage in the next few weeks.

Is this Schwab offer, currently the most beneficial? anyone know? thanks
You could split it into 2, 100K to Schwab for referral offer, 100K to Merill Edge for $600.

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