The Final, Definitive Thread on Brokerage Transfer Bonuses

[tj]

If Apex doesn't provide the corrected soon, I'll just file without the foreign tax credit. What a mess.

I certainly wouldn't give up my tax credit because my broker made a mistake. Even if I had to file a FINRA/SEC/IRS complaint.

I have no idea how I would calculate the tax credit. Avantis doesn't provide it.

[aristotelian]

Apologies, yes it is $250. I believe they charge $75 for any ACATS transfer. If the market goes up I will probably cash in the shares and withdraw cash. I have some gains rolling over so it shouldn't cost me anything.

Is there a button to close your account online for Axos? Or live chat? I hate calling these places, and I'm not going to do a $75 acat-out for a $2k account. Thanks for any info

I don't think so. Like I said, my plan was to withdraw cash to zero and let them close the account. The charge is annoying but you're still coming out ahead $175 even with an ACAT.

[nalor511]

Apologies, yes it is $250. I believe they charge $75 for any ACATS transfer. If the market goes up I will probably cash in the shares and withdraw cash. I have some gains rolling over so it shouldn't cost me anything.

Is there a button to close your account online for Axos? Or live chat? I hate calling these places, and I'm not going to do a $75 acat-out for a $2k account. Thanks for any info

I don't think so. Like I said, my plan was to withdraw cash to zero and let them close the account. The charge is annoying but you're still coming out ahead $175 even with an ACAT.

Only $85 ahead after fed+state taxes here with ACAT fee, not much left

[02nz]

Thanks for sharing this. Is there anything one needs to do to link the IRA/brokerage account to the Premier checking? Reading the terms of the offer, it repeatedly refers to the "qualifying linked accounts"

I'll likely just open the IRA myself, but wonder if I need to do anything via an advisor or banker to make sure it's properly recognized for the purposes of the offer

Can't answer your question because I haven't opened the account yet. I was planning to do this in-branch and have the banker arrange/confirm the link after transferring to WellsTrade.

Opened my Premier checking this morning and the banker said she's had quite a few folks doing this offer the past week. Very smooth process as I've had previous personal accounts at WF, so she just used my existing profile with everything taking <30 minutes. She was a Premier banker, so was somewhat familiar with what accounts qualified towards the balance requirements, stating the WellsTrade accounts did.

I opened a WellsTrade tIRA at home afterwards and called about linking the account to my checking. Customer service stated WellsTrade accounts should automatically link in a day or so, as she couldn't manually link them at the moment as it was likely too new. We can verify the linking under Account summary > View benefits > Managed linked accounts. Rep also mentioned WellsTrade IRA/brokerage balances do qualify towards Premier balance requirements; she had a table/matrix of some sort showing what accounts are ineligible, so she reiterated my IRA was fine. 64 day grace period to get the balance up before any checking fees.

I then called WF Advisors to inquire about transfer of assets. Pretty straight forward for common delivery firms, all online. For lesser known firms, there's a PDF/Docusign. No reimbursement for outgoing fees by the delivery firm. $95 for full outgoing, free for partial -- first rep said minimum remaining balance of $100, but he didn't sound confident. I wanted to verify, so called again and the rep contacted his "team lead" who said minimum is $125.

Hopefully all goes smoothly!

Edit:
Quick addendum, one day after opening my accounts.

Under "Managed your linked accounts", my IRA now appears alongside my Premier checking, but it was _not_ automatically linked to my checking. I clicked the "link" option and it showed a confirmation page.

"Link more accounts to help reach or maintain the statement-ending qualifying linked balances to avoid the monthly service fee. Delink accounts you no longer want included in your relationship balance."

So for folks opening a WellsTrade account, you'll want to log back on the next day to ensure it's linked to your checking account

Thanks for the details, my experience was the same. To emphasize: the new WellsTrade IRA account will show up automatically under your existing logon, but you do still need to link the IRA by clicking on the 3 dots next to the Premier Checking account, then View Benefits, then scroll down to "Manage your linked accounts."

[UncleLeo]

I'm about to open a WF premier account for the $2.5k promotion. I'll be transferring money that is currently in VCTXX - short term, high tax bracket (CA). I found this (https://www08.wellsfargomedia.com/asset ... -funds.pdf) to be all the money market funds that Wells Trade offers.
Can someone please point me in the right direction - what would be the most appropriate fund for someone in a high tax bracket (CA) that would reflect the currently high-interest rates? Another way to ask this is - among that list, what would be the closest to VCTXX?

[whodidntante]

If Apex doesn't provide the corrected soon, I'll just file without the foreign tax credit. What a mess.

I certainly wouldn't give up my tax credit because my broker made a mistake. Even if I had to file a FINRA/SEC/IRS complaint.

I have no idea how I would calculate the tax credit. Avantis doesn't provide it.

https://res.cloudinary.com/americancent ... s-2022.xls

[tj]

If Apex doesn't provide the corrected soon, I'll just file without the foreign tax credit. What a mess.

I certainly wouldn't give up my tax credit because my broker made a mistake. Even if I had to file a FINRA/SEC/IRS complaint.

I have no idea how I would calculate the tax credit. Avantis doesn't provide it.

https://res.cloudinary.com/americancent ... s-2022.xls

Thanks for the tip, i multiplied my number of shares by the 0.018xvxvcxvxc whatever, and went ahead and e-filed. Hopefully that was correct.

[ma21n2]

Finally took the plunge and opened a ME acct for my Roth IRA. Will qualify for the $400 bonus. Initiated the ACAT for everything besides 1 share in VTI so I can keep the Vanguard Roth open.

What’s the benefit of keeping Vanguard Roth open? I’ve had my Vanguard Roth open for many years and am thinking of moving it somewhere for the first time. Thanks!

[EnjoyIt]

Finally took the plunge and opened a ME acct for my Roth IRA. Will qualify for the $400 bonus. Initiated the ACAT for everything besides 1 share in VTI so I can keep the Vanguard Roth open.

What’s the benefit of keeping Vanguard Roth open? I’ve had my Vanguard Roth open for many years and am thinking of moving it somewhere for the first time. Thanks!

The benefit is that it is easy.

Doing something else takes time and energy, but that time and energy may be worth it to you.

[bbrock]

Finally took the plunge and opened a ME acct for my Roth IRA. Will qualify for the $400 bonus. Initiated the ACAT for everything besides 1 share in VTI so I can keep the Vanguard Roth open.

What’s the benefit of keeping Vanguard Roth open? I’ve had my Vanguard Roth open for many years and am thinking of moving it somewhere for the first time. Thanks!

With an open account, I could easily contribute in future years, rather than have to go through the application process again for a new Roth.

The new Roth account at Merrill edge is simply going to sit. Vanguard is where the yearly backdoor contributions will occur.

[groomyface]

Is Citi like Merrill Edge in that you can get 1 bonus for a taxable brokerage account and 1 bonus for an IRA, or do they limit you to one bonus regardless of account type?

I've read through the terms and conditions at https://banking.citi.com/cbol/investmen ... efault.htm , and I did note the applicable verbiage below, which to me reads like one cannot do both an IRA and a brokerage account bonus simultaneously since the promotional periods for two account types cannot overlap, but nevertheless I could swear I remember reading on the forums some members (maybe Whodidntante ?) have successfully received multiple Citi bonuses in the past.

Limit one bonus per customer. If multiple accounts are funded by a customer, the offer will apply to the eligible account with the highest contribution. Multiple contributions in the name of the same beneficial owner will not be aggregated for purposes of this offer, except if one account is a non-managed brokerage account and the other account is a managed account, in which case the eligible funding from these two accounts may be aggregated for bonus qualification purposes. Any additional accounts opened or funded during the promotional period will not be eligible for bonus eligibility. If both IRA and non-IRA accounts are funded and aggregated, the bonus will be allocated between the IRA and non-IRA on a pro-rata basis based on the amount of funding. This offer cannot be combined with any other offer. All requirements of the offer, including the dates in the above chart, pertain to both the eligible managed account and brokerage account.

I guess another way to phrase my question is: is Citi truly "one bonus per customer" or is it "one bonus per customer per account type;" and in either case, is said Citi bonus per customer lifetime, or is it churnable (e.g. once every 48 months)?

Thanks in advance, Boglehead hivemind.

[mggray17]

For another point of reference, I contacted Schwab about matching bonuses for moving 500K+ from my Vanguard taxable brokerage to Schwab.
I moved my 457(b) and 457(b) Roth to Schwab from Prudential (500K < 999K level) last January after I retired and received $1800 bonus I believe.
I waited 1 year, to move the Vanguard account and request a new bonus. First, I tried to get them match the WF deal for $2500 and they said no go due to some regulations with the checking account (not sure, didn't push it). I then emailed them the link for the Citi offer ($2000 for 500K+). They got back to me in a few hours with this bonus approved.

[Morik]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

[EnjoyIt]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

From what I have seen, they may offer $1k per $1million.

[bbrock]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

[Leesbro63]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

[bbrock]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

True. I’m continuously updating my personal financial inventory document

[EnjoyIt]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

True. I’m continuously updating my personal financial inventory document

I really really need to create a document where everything is kept and how to access it.
Today I am in:
6 Brokerage accounts
2 banks
5 credit card companies

[gtrplayer]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

True. I’m continuously updating my personal financial inventory document

I really really need to create a document where everything is kept and how to access it.
Today I am in:
6 Brokerage accounts
2 banks
5 credit card companies

I started doing this in the last year and realized how many accounts I have now… but I’ve also made thousands in bonuses, so I’d say it’s been worth the effort. Eventually, I’ll have to consolidate back down, but that will be a new part time job.

[jeffyscott]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

I guess the question is: do you need/want a part time job?

I would say that I don't and I have not really chased brokerage bonuses, I just took a small detour on the consolidation route. However, I have chased credit card sign-up bonuses for years and I am not sure if I'll stop.

Remaining to be determined is whether or not I'll ever bother to stash $100K at B of A for higher ongoing rebates. We don't spend a lot, so that's only worth about $200 extra per year vs. using 3 Citi cards for most things (custom cash, double cash, and the Costco card).

[Leesbro63]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

I guess the question is: do you need/want a part time job?

I would say that I don't and I have not really chased brokerage bonuses, I just took a small detour on the consolidation route. However, I have chased credit card sign-up bonuses for years and I am not sure if I'll stop.

Remaining to be determined is whether or not I'll ever bother to stash $100K at B of A for higher ongoing rebates. We don't spend a lot, so that's only worth about $200 extra per year vs. using 3 Citi cards for most things (custom cash, double cash, and the Costco card).

If you have a three or more million to move around, the payoff per minute worked is much greater than for credit card bunuses.

[jeffyscott]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

I guess the question is: do you need/want a part time job?

I would say that I don't and I have not really chased brokerage bonuses, I just took a small detour on the consolidation route. However, I have chased credit card sign-up bonuses for years and I am not sure if I'll stop.

Remaining to be determined is whether or not I'll ever bother to stash $100K at B of A for higher ongoing rebates. We don't spend a lot, so that's only worth about $200 extra per year vs. using 3 Citi cards for most things (custom cash, double cash, and the Costco card).

If you have a three or more million to move around, the payoff per minute worked is much greater than for credit card bunuses.

I don't have that amount. But if I did, I would have even less need for more. What would be my motivation to put any time and effort into collecting another few thousand, if I am never going to use the multi-millions I already have?

[Leesbro63]

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

I guess the question is: do you need/want a part time job?

I would say that I don't and I have not really chased brokerage bonuses, I just took a small detour on the consolidation route. However, I have chased credit card sign-up bonuses for years and I am not sure if I'll stop.

Remaining to be determined is whether or not I'll ever bother to stash $100K at B of A for higher ongoing rebates. We don't spend a lot, so that's only worth about $200 extra per year vs. using 3 Citi cards for most things (custom cash, double cash, and the Costco card).

If you have a three or more million to move around, the payoff per minute worked is much greater than for credit card bunuses.

I don't have that amount. But if I did, I would have even less need for more. What would be my motivation to put any time and effort into collecting another few thousand, if I am never going to use the multi-millions I already have?

I dunno. It’s low lying fruit. Would you bend over to pick up a penny? A dollar? A $20? A$50?

[EnjoyIt]

Cost basis woes:
1) I did a transfer from Chase You Invest to Public in Nov. 4 items were transferred 2 index funds and 2 legacy stocks I have with a low cost basis which I don't want to sell due to taxes.

2) Transfered in Nov.

3) Cost basis for only the index funds transferred. Contacted Public in Dec to get the cost basis. They contacted me back saying chase still hasn't sent it after a few weeks.

4) January still no cost basis. I contacted Chase and after 1 week they transferred only 1 of the 2 stocks.

5) I had to contact Chase multiple times but finally they transferred cost basis for my last stock to me and I sent it to Public.

I would say I spent a few hours dealing with this over the course of a few months but still worth the $10k bonus.

[beezlebub]

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

I guess the question is: do you need/want a part time job?

I would say that I don't and I have not really chased brokerage bonuses, I just took a small detour on the consolidation route. However, I have chased credit card sign-up bonuses for years and I am not sure if I'll stop.

Remaining to be determined is whether or not I'll ever bother to stash $100K at B of A for higher ongoing rebates. We don't spend a lot, so that's only worth about $200 extra per year vs. using 3 Citi cards for most things (custom cash, double cash, and the Costco card).

If you have a three or more million to move around, the payoff per minute worked is much greater than for credit card bunuses.

I don't have that amount. But if I did, I would have even less need for more. What would be my motivation to put any time and effort into collecting another few thousand, if I am never going to use the multi-millions I already have?

I have much less than that amount, and still don't find brokerage bonus chasing worth it.With large amounts it's worth it even less due to the risk of mistakes being much more expensive and having a greater impact. For example, look at the amount of complaints with Public reporting something as simple as a 1099 correctly, and I am certain these folks only tried out Public to receive the generous promotional bonuses offered: viewtopic.php?p=7147389#p7147389

Credit card bonuses are easy and essentially risk free, so those are an easy win in my book. But moving huge stacks of my money around for brokerage and/or bank bonuses is too anxiety inducing and potentially expensive in mistakes and time wasted correcting those mistakes.

[erp]

I would say I spent a few hours dealing with this over the course of a few months but still worth the $10k bonus.

The public.com deal just seemed like they needed beta testers to get their bugs out. I skipped it for now.

[Leesbro63]

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

I guess the question is: do you need/want a part time job?

I would say that I don't and I have not really chased brokerage bonuses, I just took a small detour on the consolidation route. However, I have chased credit card sign-up bonuses for years and I am not sure if I'll stop.

Remaining to be determined is whether or not I'll ever bother to stash $100K at B of A for higher ongoing rebates. We don't spend a lot, so that's only worth about $200 extra per year vs. using 3 Citi cards for most things (custom cash, double cash, and the Costco card).

If you have a three or more million to move around, the payoff per minute worked is much greater than for credit card bunuses.

I don't have that amount. But if I did, I would have even less need for more. What would be my motivation to put any time and effort into collecting another few thousand, if I am never going to use the multi-millions I already have?

I have much less than that amount, and still don't find brokerage bonus chasing worth it.With large amounts it's worth it even less due to the risk of mistakes being much more expensive and having a greater impact. For example, look at the amount of complaints with Public reporting something as simple as a 1099 correctly, and I am certain these folks only tried out Public to receive the generous promotional bonuses offered: viewtopic.php?p=7147389#p7147389

Credit card bonuses are easy and essentially risk free, so those are an easy win in my book. But moving huge stacks of my money around for brokerage and/or bank bonuses is too anxiety inducing and potentially expensive in mistakes and time wasted correcting those mistakes.

I had a fear of mistakes too. Been doing this since 2012, however and so far it’s gone flawlessly. I will say I stick to large established brokers, except for the too juicy to resist $2000 Tastyworks bonus for $100,000.

[tj]

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

I guess the question is: do you need/want a part time job?

I would say that I don't and I have not really chased brokerage bonuses, I just took a small detour on the consolidation route. However, I have chased credit card sign-up bonuses for years and I am not sure if I'll stop.

Remaining to be determined is whether or not I'll ever bother to stash $100K at B of A for higher ongoing rebates. We don't spend a lot, so that's only worth about $200 extra per year vs. using 3 Citi cards for most things (custom cash, double cash, and the Costco card).

If you have a three or more million to move around, the payoff per minute worked is much greater than for credit card bunuses.

I don't have that amount. But if I did, I would have even less need for more. What would be my motivation to put any time and effort into collecting another few thousand, if I am never going to use the multi-millions I already have?

I have much less than that amount, and still don't find brokerage bonus chasing worth it.With large amounts it's worth it even less due to the risk of mistakes being much more expensive and having a greater impact. For example, look at the amount of complaints with Public reporting something as simple as a 1099 correctly, and I am certain these folks only tried out Public to receive the generous promotional bonuses offered: viewtopic.php?p=7147389#p7147389

Credit card bonuses are easy and essentially risk free, so those are an easy win in my book. But moving huge stacks of my money around for brokerage and/or bank bonuses is too anxiety inducing and potentially expensive in mistakes and time wasted correcting those mistakes.

The 1099 shenanigans were absolutely worth the $2000 that public threw at me. My 6 months at public are almost up and I'll be transferring to somebody else.

[whodidntante]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

True. I’m continuously updating my personal financial inventory document

I really really need to create a document where everything is kept and how to access it.
Today I am in:
6 Brokerage accounts
2 banks
5 credit card companies

These are the columns of my tracking Google sheet.

Account Description
Expected Payout
Tax Year of Payout
Taxable?
Date Account Opened
Date that Lockup Ends
Date Closed
Date Payout Expected
Date Bonus Paid
To do/notes

[EnjoyIt]

I would say I spent a few hours dealing with this over the course of a few months but still worth the $10k bonus.

The public.com deal just seemed like they needed beta testers to get their bugs out. I skipped it for now.

I don't think it was Public's deal. It was Chase. They kept giving me the run around and even one person told me that they don't have to send the cost basis since I did not originally buy those shares at Chase. Seriously!

[erp]

For another point of reference, I contacted Schwab about matching bonuses for moving 500K+ from my Vanguard taxable brokerage to Schwab.
I moved my 457(b) and 457(b) Roth to Schwab from Prudential (500K < 999K level) last January after I retired and received $1800 bonus I believe.
I waited 1 year, to move the Vanguard account and request a new bonus. First, I tried to get them match the WF deal for $2500 and they said no go due to some regulations with the checking account (not sure, didn't push it). I then emailed them the link for the Citi offer ($2000 for 500K+). They got back to me in a few hours with this bonus approved.

Thanks for the info. Is the Citi offer the one that required a wealth advisor (with aum fees I assume), and they still matched it?

[BuddyJet]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

Simplicity in balancing along with eventual spousal management leads me towards consolidation but the easy bonus money is too good.

To make things easier, I move core etf holdings like vti to meet the bonus. I also try to set dividends to be transferred automatically to my main account or dividend reinvestment to avoid cash buildup at “secondary” brokerages.

[bbrock]

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

True. I’m continuously updating my personal financial inventory document

I really really need to create a document where everything is kept and how to access it.
Today I am in:
6 Brokerage accounts
2 banks
5 credit card companies

These are the columns of my tracking Google sheet.

Account Description
Expected Payout
Tax Year of Payout
Taxable?
Date Account Opened
Date that Lockup Ends
Date Closed
Date Payout Expected
Date Bonus Paid
To do/notes

nice system. I like that better than adding a calendar event on my iPhone for when the payout is expected

[bbrock]

I've been thinking about just consolidating everything at Fidelity and no longer chasing bonuses/etc.
If I'm xferring low 7 figures (across multiple accounts) to Fidelity, does anyone know whether they may provide some un-advertised xfer bonus? I assume I'd need to call them and see, but wanted to check others' experiences first.

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

Simplicity in balancing along with eventual spousal management leads me towards consolidation but the easy bonus money is too good.

To make things easier, I move core etf holdings like vti to meet the bonus. I also try to set dividends to be transferred automatically to my main account or dividend reinvestment to avoid cash buildup at “secondary” brokerages.

Rt on buddyjet. Thanks for sharing

[spammagnet]

I guess the question is: do you need/want a part time job?

I would say that I don't and I have not really chased brokerage bonuses, I just took a small detour on the consolidation route. However, I have chased credit card sign-up bonuses for years and I am not sure if I'll stop.

Remaining to be determined is whether or not I'll ever bother to stash $100K at B of A for higher ongoing rebates. We don't spend a lot, so that's only worth about $200 extra per year vs. using 3 Citi cards for most things (custom cash, double cash, and the Costco card).

This is a part-time job with very little demand on your time and it's entirely at your discretion as to if/when you choose to work.

In my experience, on average, new brokerage account bonuses don't take more time than new credit card bonuses. It's almost all online. I have to go into Wells-Fargo Monday for the first time to open a new premier checking account. (The bonus is for opening a checking account but I'm able to achieve the required minimum balance only by transferring assets in an IRA.)

[EnjoyIt]

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

True. I’m continuously updating my personal financial inventory document

I really really need to create a document where everything is kept and how to access it.
Today I am in:
6 Brokerage accounts
2 banks
5 credit card companies

These are the columns of my tracking Google sheet.

Account Description
Expected Payout
Tax Year of Payout
Taxable?
Date Account Opened
Date that Lockup Ends
Date Closed
Date Payout Expected
Date Bonus Paid
To do/notes

I have something similar. What I was talking about is some form of spreadsheet that shows all my accounts in case I die or become incapacitated.

[nalor511]

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

True. I’m continuously updating my personal financial inventory document

I really really need to create a document where everything is kept and how to access it.
Today I am in:
6 Brokerage accounts
2 banks
5 credit card companies

These are the columns of my tracking Google sheet.

Account Description
Expected Payout
Tax Year of Payout
Taxable?
Date Account Opened
Date that Lockup Ends
Date Closed
Date Payout Expected
Date Bonus Paid
To do/notes

I have something similar. What I was talking about is some form of spreadsheet that shows all my accounts in case I die or become incapacitated.

You could fairly easily just save a statement for each account once a year, to be the reference, for your heirs

[placeholder]

I only started this bonus chasing last fall. I often ponder if it’s worth vs. the benefits of consolidating, especially to make things smoother for my wife in the event something was to happen to me. But for now, chasing seems to win.

If I may ask, what was the main factor for you to want to consolidate?

I don't really see much value in consolidation other than I would be able to update my monthly spreadsheet a few minutes faster but compared to thousands of dollars that's not important to me.

[the_wiki]

It's a part time job. But pays well. All that matters if your wife needs to step in is what you have currently and where it is.

I guess the question is: do you need/want a part time job?

I would say that I don't and I have not really chased brokerage bonuses, I just took a small detour on the consolidation route. However, I have chased credit card sign-up bonuses for years and I am not sure if I'll stop.

Remaining to be determined is whether or not I'll ever bother to stash $100K at B of A for higher ongoing rebates. We don't spend a lot, so that's only worth about $200 extra per year vs. using 3 Citi cards for most things (custom cash, double cash, and the Costco card).

If you have a three or more million to move around, the payoff per minute worked is much greater than for credit card bunuses.

I don't have that amount. But if I did, I would have even less need for more. What would be my motivation to put any time and effort into collecting another few thousand, if I am never going to use the multi-millions I already have?

I dunno. It’s low lying fruit. Would you bend over to pick up a penny? A dollar? A $20? A$50?

If I pick up a coin off the ground, my work is done.

If I transfer my brokerage account, it's something new to babysit, potential headaches and work on both ends, another accounting trail with possible errors. another entity with literally all my sensitive information.