The Final, Definitive Thread on Brokerage Transfer Bonuses

[bbrock]

For anyone out there who has a habit of moving their assets around to get brokerage bonuses, M1 has a pretty good new bonus tier.

https://m1.com/transfer/promo-15k-aug23/

Deposit: $100,000 – $249,999
Bonus: $250

Deposit: $250,000 – $499,999
Bonus: $1,000

Deposit: $500,000 – $999,999
Bonus: $2,000

Deposit: $1,000,000 – $1,999,999
Bonus: $4,000

Deposit: $2,000,000 – $4,999,999
Bonus: $10,000

Deposit: $5,000,000+
Bonus: $15,000

Taxable accounts only.

Does this mean Fidelity does not accept IRA accounts for bonus payments?

No. That is for M1. Fidelity has no public offers that I know of so it is whatever you can negotiate with them.

It appears Fido is pretty steadfast. They will not match offers from smaller companies, M1 being included.

[ChrisC]

As I mentioned in another thread I recently rolled part of my 401k to fidelity and today I received an email from a local rep and he mentioned rewards for consolidating at fidelity so I said I'd like to see the reward tiers and terms and I will report what they say and we can compare to some of the other bonuses for fidelity that have been mentioned recently.

It's a fairly low one similar to some others:

250k - 350
500k - 750
1mil - 1500
2mil - 2000
3mil - 3000
4mil - 4000
5mil - 5000

Not really too exciting and the rep also said that if it were over 1mil "We have offers greater than presented."

I and others have posted more accurate info, upthread. Here's what was relayed to me in mid-July from my Fidelity rep and recently reiterated to me that my wife can also take advantage of this bonus promotion at least until the end of the year:

"Hi Chris,

Thank you again for taking my call so late in the day. After speaking with our [Fidelity} promotions team, we would currently be willing to approve a cash incentive at the following tier for transfers to our platform (terms and conditions attached):

$1M-$2M eligible assets = $3,500 cash bonus
$2M-$4M eligible assets = $5,000 cash bonus
$4M-$5M eligible assets = $7,500 cash bonus
$5M+ eligible assets = $10,000 cash bonus

This reflects our interest in growing the relationship with you on our platform. Please don’t hesitate to reach out with any additional questions."

Good morning Chris C, and placeholder. It sounds like you both have spoken with Fidelity recently. Would you share the approximate dates that two had been in contact with Fido? That rep I spoke with last week he had stated they could go up to 3500 but most likely since I’m not churning my account and they won’t make anything the best they may be able to do is 1500. Yesterday, I sent an email to a brokerage consultant so I’m waiting to hear back but I was just hoping you’d share the dates of your conversations as it looks like there’s a difference in the $1 mil tiers.

Funds transferred on August 28. Recent talks with Fidelity on August 31 and September 7 that included, among other things, the bonus inducements. You’ve now exhausted my willingness to share other details and info so I’m bowing out of this thread. Good luck.

[Carno]

Funds transferred on August 28. Recent talks with Fidelity on August 31 and September 7 that included, among other things, the bonus inducements.

Looks like talks with Fidelity regarding any bonus offers took place after the fact (funds transfer). I wonder if this worked.

[ChrisC]

Funds transferred on August 28. Recent talks with Fidelity on August 31 and September 7 that included, among other things, the bonus inducements.

Looks like talks with Fidelity regarding any bonus offers took place after the fact (funds transfer). I wonder if this worked.

No, the talks didn’t occur about bonuses after I transferred funds. Upthread, I mentioned that the bonus offer was made to me in writing in July. My discussions in August and September covered a range of other matters with Fidelity; bonuses were not of the highest priority to me in these talks.

I wish people would actually read beyond the one post to which they reply to get the full story.

[bbrock]

As I mentioned in another thread I recently rolled part of my 401k to fidelity and today I received an email from a local rep and he mentioned rewards for consolidating at fidelity so I said I'd like to see the reward tiers and terms and I will report what they say and we can compare to some of the other bonuses for fidelity that have been mentioned recently.

It's a fairly low one similar to some others:

250k - 350
500k - 750
1mil - 1500
2mil - 2000
3mil - 3000
4mil - 4000
5mil - 5000

Not really too exciting and the rep also said that if it were over 1mil "We have offers greater than presented."

I and others have posted more accurate info, upthread. Here's what was relayed to me in mid-July from my Fidelity rep and recently reiterated to me that my wife can also take advantage of this bonus promotion at least until the end of the year:

"Hi Chris,

Thank you again for taking my call so late in the day. After speaking with our [Fidelity} promotions team, we would currently be willing to approve a cash incentive at the following tier for transfers to our platform (terms and conditions attached):

$1M-$2M eligible assets = $3,500 cash bonus
$2M-$4M eligible assets = $5,000 cash bonus
$4M-$5M eligible assets = $7,500 cash bonus
$5M+ eligible assets = $10,000 cash bonus

This reflects our interest in growing the relationship with you on our platform. Please don’t hesitate to reach out with any additional questions."

Good morning Chris C, and placeholder. It sounds like you both have spoken with Fidelity recently. Would you share the approximate dates that two had been in contact with Fido? That rep I spoke with last week he had stated they could go up to 3500 but most likely since I’m not churning my account and they won’t make anything the best they may be able to do is 1500. Yesterday, I sent an email to a brokerage consultant so I’m waiting to hear back but I was just hoping you’d share the dates of your conversations as it looks like there’s a difference in the $1 mil tiers.

Funds transferred on August 28. Recent talks with Fidelity on August 31 and September 7 that included, among other things, the bonus inducements. You’ve now exhausted my willingness to share other details and info so I’m bowing out of this thread. Good luck.

Thanks Chris C.

Let’s see what they come back with to my email from a few days ago.

[Mike14]

Anyone get Schwab to match Chase Private Client transfer offers?

They wouldn't for me. They insisted it was a checking offer (even though brokerage accounts can be used to meet the balance requirement). They did match this Public offer: https://help.public.com/en/articles/649 ... er-account

How long ago was that when you got Schwab to match public?

[02nz]

Anyone get Schwab to match Chase Private Client transfer offers?

They wouldn't for me. They insisted it was a checking offer (even though brokerage accounts can be used to meet the balance requirement). They did match this Public offer: https://help.public.com/en/articles/649 ... er-account

How long ago was that when you got Schwab to match public?

Late July this year

[Fotodog]

I did the WF bonus of $2500 for a $250k investment. Put my money in Treasuries yielding 5% that matured about the same time that the bonus was deposited, easy peasy. Only downside was having to call when placing orders fixed income, but not a big deal.

The cash is now sitting in a MM fund earning over 5%, but I’m interested in other bonus offers. Seems like Chase has the best offer for that amount, but I’m not clear what you can purchase without paying “advisor fees “ since it’s not their self directed account that offers the bonus. Does anyone have experience buying Treasuries or other fixed income? Thanks!

[yougotitdude]

One actual good thing about Wells Trade is the great selection of money market funds. They give access to the institutional level ones that you're not going to get elsewhere. Granted what's say 20bps in the grand scheme? But still it's nice

https://www08.wellsfargomedia.com/asset ... -funds.pdf

Never knew this. Thanks for sharing!

[Carno]

One actual good thing about Wells Trade is the great selection of money market funds. They give access to the institutional level ones that you're not going to get elsewhere. Granted what's say 20bps in the grand scheme? But still it's nice
https://www08.wellsfargomedia.com/asset ... -funds.pdf

Never knew this. Thanks for sharing!

What is the highest annual yield you can get among MM funds at Wells Trade?

[Carno]

I did the WF bonus of $2500 for a $250k investment. Put my money in Treasuries yielding 5% that matured about the same time that the bonus was deposited, easy peasy. Only downside was having to call when placing orders fixed income, but not a big deal.

Does this mean you have to call them for ANY type of fixed-income investment? Also, do you pay fees when calling them to purchase fixed-income investments?

[michaeljc70]

One actual good thing about Wells Trade is the great selection of money market funds. They give access to the institutional level ones that you're not going to get elsewhere. Granted what's say 20bps in the grand scheme? But still it's nice
https://www08.wellsfargomedia.com/asset ... -funds.pdf

Never knew this. Thanks for sharing!

What is the highest annual yield you can get among MM funds at Wells Trade?

I just bought the ALLSPRING MONEY MARKET FUND (WMPXX) and the 7 day SEC yield is 5.56% (or 5.46% depending on what site you believe).

[Fotodog]

I did the WF bonus of $2500 for a $250k investment. Put my money in Treasuries yielding 5% that matured about the same time that the bonus was deposited, easy peasy. Only downside was having to call when placing orders fixed income, but not a big deal.

Does this mean you have to call them for ANY type of fixed-income investment? Also, do you pay fees when call them to purchase fixed-income investments?

From my understanding, yes you have to call for all fixed income. That may not apply to bond MMF’s or ETF’s, but not sure because I have no interest in those. But there is no fee.

[Carno]

I did the WF bonus of $2500 for a $250k investment. Put my money in Treasuries yielding 5% that matured about the same time that the bonus was deposited, easy peasy. Only downside was having to call when placing orders fixed income, but not a big deal.

Does this mean you have to call them for ANY type of fixed-income investment? Also, do you pay fees when call them to purchase fixed-income investments?

From my understanding, yes you have to call for all fixed income. That may not apply to bond MMF’s or ETF’s, but not sure because I have no interest in those. But there is no fee.

I am quite sure fixed-income (bond) ETFs are actually treated (or traded) as stocks or stock ETFs. I assume you can buy individual bonds, but I guess not online but must call them.

[Carno]

One actual good thing about Wells Trade is the great selection of money market funds. They give access to the institutional level ones that you're not going to get elsewhere. Granted what's say 20bps in the grand scheme? But still it's nice
https://www08.wellsfargomedia.com/asset ... -funds.pdf

Never knew this. Thanks for sharing!

What is the highest annual yield you can get among MM funds at Wells Trade?

I just bought the ALLSPRING MONEY MARKET FUND (WMPXX) and the 7 day SEC yield is 5.56% (or 5.46% depending on what site you believe).

Looks like WMPXX has Min Initial Invest of 10M if you buy them outside of Wells Trade. https://www.cnbc.com/quotes/WMPXX

[michaeljc70]

One actual good thing about Wells Trade is the great selection of money market funds. They give access to the institutional level ones that you're not going to get elsewhere. Granted what's say 20bps in the grand scheme? But still it's nice
https://www08.wellsfargomedia.com/asset ... -funds.pdf

Never knew this. Thanks for sharing!

What is the highest annual yield you can get among MM funds at Wells Trade?

I just bought the ALLSPRING MONEY MARKET FUND (WMPXX) and the 7 day SEC yield is 5.56% (or 5.46% depending on what site you believe).

Looks like WMPXX has Min Initial Invest of 10M if you buy them outside of Wells Trade. https://www.cnbc.com/quotes/WMPXX

Correct. The yield is almost 1/2% higher than what I was getting at Fidelity. That was an automatic sweep though and they may have better yields in non-sweep funds.

[Carno]

I pointed this out in anther threat. Those who have over 1M invested in stocks or bonds or ETFs, a simple market move of 0.25% costs $2,500. This could happen easily any day and a $2,500 WF bonus is quickly erased by a single one-day market move of 0.25%, which happens now and then.

[BabaWawa]

I pointed this out in anther threat. Those who have over 1M invested in stocks or bonds or ETFs, a simple market move of 0.25% costs $2,500. This could happen easily any day and a $2,500 WF bonus is quickly erased by a single one-day market move of 0.25%, which happens now and then.

What's your point? The market moves up and down whether you transfer or not. You transfer funds in kind. At least if it moves down, I've got an extra $2500 I didn't have otherwise.

[placeholder]

I pointed this out in anther threat. Those who have over 1M invested in stocks or bonds or ETFs, a simple market move of 0.25% costs $2,500. This could happen easily any day and a $2,500 WF bonus is quickly erased by a single one-day market move of 0.25%, which happens now and then.

That's the wrong way to evaluate it because money if fungible and that would be true for any 2500 bucks you make or lose not specific to brokerage transfers so if you had 2500 in cash that you dropped somewhere you'd be unlikely to shrug and decide that it was less than a day's market move and make no effort to track it down.

[Carno]

I pointed this out in anther threat. Those who have over 1M invested in stocks or bonds or ETFs, a simple market move of 0.25% costs $2,500. This could happen easily any day and a $2,500 WF bonus is quickly erased by a single one-day market move of 0.25%, which happens now and then.

What's your point? The market moves up and down whether you transfer or not. You transfer funds in kind. At least if it moves down, I've got an extra $2500 I didn't have otherwise.

That one-time move down will be compensated by an extra $2,500 I didn't have otherwise; however, this is not a one time event. A single one-day market move of 0.25% will be happening indefinitely into the future, so that single even is only one out of many that will happen and make the total (end-result or net) of gains and losses almost negligible with or without $2,500. (Again, assuming you have $1M+ invested in the market.)

[BabaWawa]

I pointed this out in anther threat. Those who have over 1M invested in stocks or bonds or ETFs, a simple market move of 0.25% costs $2,500. This could happen easily any day and a $2,500 WF bonus is quickly erased by a single one-day market move of 0.25%, which happens now and then.

What's your point? The market moves up and down whether you transfer or not. You transfer funds in kind. At least if it moves down, I've got an extra $2500 I didn't have otherwise.

That one-time move down will be compensated by an extra $2500 I didn't have otherwise; however, this is not a one time event. A single one-day market move of 0.25% will be happening indefinitely into the future, so that single even is only one out of many that will happen and make the total (end-result) net of gains and losses almost negligible with or without $2,500.

That $2500 is separate and unrelated to what the market does after your transfer. I have a very comfortable high net worth in retirement, but $2500 extra still gets my juices going. I'll venture a guess that you've never clipped coupons at the grocery store either.

[michaeljc70]

I pointed this out in anther threat. Those who have over 1M invested in stocks or bonds or ETFs, a simple market move of 0.25% costs $2,500. This could happen easily any day and a $2,500 WF bonus is quickly erased by a single one-day market move of 0.25%, which happens now and then.

I transferred securities so that is completely false for that scenario. They don't lose anything unless the market does...which it would if I had left it where it was. If you sell, transfer and rebuy, that is different. And what if the market is up? I have no idea why you would sell securities unless the new brokerage couldn't accept them.

[sc9182]

I pointed this out in anther threat. Those who have over 1M invested in stocks or bonds or ETFs, a simple market move of 0.25% costs $2,500. This could happen easily any day and a $2,500 WF bonus is quickly erased by a single one-day market move of 0.25%, which happens now and then.

I transferred securities so that is completely false for that scenario. They don't lose anything unless the market does...which it would if I had left it where it was. If you sell, transfer and rebuy, that is different. And what if the market is up? I have no idea why you would sell securities unless the new brokerage couldn't accept them.

++1 - well said, correctly put.
ACATs transfer is in-kind securities transfer. Nobody is selling, nor buying while ACATs is on its way (may be if you are frequent trader, you may have missed a few days of active “trading”). But, nobody does active trading here on BH., right !?

[02nz]

I pointed this out in anther threat. Those who have over 1M invested in stocks or bonds or ETFs, a simple market move of 0.25% costs $2,500. This could happen easily any day and a $2,500 WF bonus is quickly erased by a single one-day market move of 0.25%, which happens now and then.

What's your point? The market moves up and down whether you transfer or not. You transfer funds in kind. At least if it moves down, I've got an extra $2500 I didn't have otherwise.

That one-time move down will be compensated by an extra $2,500 I didn't have otherwise; however, this is not a one time event. A single one-day market move of 0.25% will be happening indefinitely into the future, so that single even is only one out of many that will happen and make the total (end-result or net) of gains and losses almost negligible with or without $2,500. (Again, assuming you have $1M+ invested in the market.)

Please send me a check for $2500. After all, it'll be negligible relative to the many $2500 ups and downs your portfolio will experience for the rest of your life.

[EnjoyIt]

I pointed this out in anther threat. Those who have over 1M invested in stocks or bonds or ETFs, a simple market move of 0.25% costs $2,500. This could happen easily any day and a $2,500 WF bonus is quickly erased by a single one-day market move of 0.25%, which happens now and then.

What's your point? The market moves up and down whether you transfer or not. You transfer funds in kind. At least if it moves down, I've got an extra $2500 I didn't have otherwise.

That one-time move down will be compensated by an extra $2,500 I didn't have otherwise; however, this is not a one time event. A single one-day market move of 0.25% will be happening indefinitely into the future, so that single even is only one out of many that will happen and make the total (end-result or net) of gains and losses almost negligible with or without $2,500. (Again, assuming you have $1M+ invested in the market.)

I hope it makes sense what everyone is trying to explain to you. When we transfer $1million, we are not selling $1million worth of equities, moving the cash over and then buying at the new brokerage. Instead we already have X shares worth $1 million and simply move X shares to the new brokerage. Therefor no shares are lost or created during the transfer.

Any market movement that occurs would have the same effect no matter where the shares are held or when the shares are in transit between brokerage houses.

The only benefit is that Y months later the brokerage gives you a bonus check. That’s why so many people see it as easy money. Spend an hour or two to move some shares and make a few thousand in the process. Easy peasy.

Does that make sense?

[czaj]

Reached out to a local Schwab consultant, referencing Wells Fargo offer; I said I was considering to move about $600k. He reached out to "the appropriate team" and came back with nothing to offer.

[michaeljc70]

Reached out to a local Schwab consultant, referencing Wells Fargo offer; I said I was considering to move about $600k. He reached out to "the appropriate team" and came back with nothing to offer.

I have no idea why...but for the Wells offer you also need to open a Premier checking account in the branch so it is not quite the same.

[czaj]

Reached out to a local Schwab consultant, referencing Wells Fargo offer; I said I was considering to move about $600k. He reached out to "the appropriate team" and came back with nothing to offer.

I have no idea why...but for the Wells offer you also need to open a Premier checking account in the branch so it is not quite the same.

Yeah, I wasn't expecting him to be able to match it fully. But was hoping he could get close.

[bbrock]

Will a BH help to further explain the Chase offer? I’m a little confused because one of the ineligible options is self-directed. Isn’t that what we are all aiming for since we are DIY? I’m not looking for a Chase advisor to give me any input on the security VTI I’m gonna be moving over as I’m just looking to sit on it for the holding term.

In order to take part on the Chase offer, can I still have a advisor opened account with a self-directed option? What do I have to say or do?

[potatogun]

Will a BH help to further explain the Chase offer? I’m a little confused because one of the ineligible options is self-directed. Isn’t that what we are all aiming for since we are DIY? I’m not looking for a Chase advisor to give me any input on the security VTI I’m gonna be moving over as I’m just looking to sit on it for the holding term.

In order to take part on the Chase offer, can I still have a advisor opened account with a self-directed option? What do I have to say or do?

bbrock, I recommend looking at the DoC thread for CPC. You want an advisor opened brokerage account under the JPMorgan umbrella. You can "direct" your investing actions with that account via web and app. The commissions depend on what and how you order, but for basic stock/ETF and no load funds, you can do your own trading on web/app for no fees.

Any potential advisor fees (AUM) is only if you enrolled in a discretionary relationship with wrapper fee. The trick is getting an advisor to open an account even if you signal you're not generally interested in a high revenue (for them) relationship.

There's an element of advisor luck. Some folks try different branches to get one that will play ball.

[sc9182]

I pointed this out in anther threat. Those who have over 1M invested in stocks or bonds or ETFs, a simple market move of 0.25% costs $2,500. This could happen easily any day and a $2,500 WF bonus is quickly erased by a single one-day market move of 0.25%, which happens now and then.

What's your point? The market moves up and down whether you transfer or not. You transfer funds in kind. At least if it moves down, I've got an extra $2500 I didn't have otherwise.

That one-time move down will be compensated by an extra $2,500 I didn't have otherwise; however, this is not a one time event. A single one-day market move of 0.25% will be happening indefinitely into the future, so that single even is only one out of many that will happen and make the total (end-result or net) of gains and losses almost negligible with or without $2,500. (Again, assuming you have $1M+ invested in the market.)

I hope it makes sense what everyone is trying to explain to you. When we transfer $1million, we are not selling $1million worth of equities, moving the cash over and then buying at the new brokerage. Instead we already have X shares worth $1 million and simply move X shares to the new brokerage. Therefor no shares are lost or created during the transfer.

Any market movement that occurs would have the same effect no matter where the shares are held or when the shares are in transit between brokerage houses.

The only benefit is that Y months later the brokerage gives you a bonus check. That’s why so many people see it as easy money. Spend an hour or two to move some shares and make a few thousand in the process. Easy peasy.

Does that make sense?

LoL. Hard to explain to folks who don’t want it, don’t want to understand it. It’s ok - guessing, 99.9% population never participates in on Brokerage promotions. Life goes on ..

The way we see it - however., is its $3000 — $5k to $10k a year “free” bonus (depending on offers, and your portfolio level). That bonus amount it likely about same or more $$s than their employer’s 401k match amount .. why not get some free money - business for them, bonus for you ..

[placeholder]

It's not a new point and in fact my old buddy earl addressed it in the mini faq:

2. You get like at most $1000 for transferring $250k. That's not a very good return on your money is it?
But it's not a return. This isn't like a bank deposit bonus, where you have to put in cash and take whatever interest rate the account generates. As mentioned above, the assets transfer in-kind, so you have the same investments. The money works as hard as it ever did, there's just a bit more.

He didn't know of one paying 2500 back then.

[tj]

It's not a new point and in fact my old buddy earl addressed it in the mini faq:

2. You get like at most $1000 for transferring $250k. That's not a very good return on your money is it?
But it's not a return. This isn't like a bank deposit bonus, where you have to put in cash and take whatever interest rate the account generates. As mentioned above, the assets transfer in-kind, so you have the same investments. The money works as hard as it ever did, there's just a bit more.

He didn't know of one paying 2500 back then.

That's because there wasn't one paying $2500 for $250k back then.

[sc9182]

..
That's because there wasn't one paying $2500 for $250k back then.

WF offer has been simple, worked smoothly, and prolly best banks for buck in shortest time. Super !!

Chase Private Banking bonus is. it far
behind. our transfer so far been going smooth: found a friendly JPMC Rep - who opened up a Brokerage account (with self-manage/trading privileges.,
without AUM).

Earn $2,000 when you deposit $250,000-$499,999
( Or)
Earn $3,000 when you deposit $500,000+

in 90-120 days ..

The couple of 3 gotchas have been: finding good JPMC rep who is willing to entertain you with self-manage account, Only Brokerage assets allowed (no IRAs), and appears more restrictive set of assets allows on their platform (leveraged etfs not allowed, some mutual funds not allowed, guessing any bitcoin type funds/etc may not be allowed — didn’t check full set - but doe typical vti or voo type etfs/funds - appears fine)

Good luck with Chase CPC bonus offer - could be useful for folks who finished/finishing WF offer - waiting for something else ..

[placeholder]

He didn't know of one paying 2500 back then.

That's because there wasn't one paying $2500 for $250k back then.

Yes I'm aware just pointing out the 1000 figure was the best we'd see back in those days.

[bbrock]

Will a BH help to further explain the Chase offer? I’m a little confused because one of the ineligible options is self-directed. Isn’t that what we are all aiming for since we are DIY? I’m not looking for a Chase advisor to give me any input on the security VTI I’m gonna be moving over as I’m just looking to sit on it for the holding term.

In order to take part on the Chase offer, can I still have a advisor opened account with a self-directed option? What do I have to say or do?

bbrock, I recommend looking at the DoC thread for CPC. You want an advisor opened brokerage account under the JPMorgan umbrella. You can "direct" your investing actions with that account via web and app. The commissions depend on what and how you order, but for basic stock/ETF and no load funds, you can do your own trading on web/app for no fees.

Any potential advisor fees (AUM) is only if you enrolled in a discretionary relationship with wrapper fee. The trick is getting an advisor to open an account even if you signal you're not generally interested in a high revenue (for them) relationship.

There's an element of advisor luck. Some folks try different branches to get one that will play ball.

Awesome pototogun. Thanks for that recommendation on DoC, as well as the input.

[Bonehead3]

[Thread merged into here --admin LadyGeek]

Can anyone explain to me the process to move 1M of VTI to Tasty Trade for 5k incentive? Fees? I'm a little timid about doing this and don't want any surprises.

[02nz]

Can anyone explain to me the process to move 1M of VTI to Tasty Trade for 5k incentive? Fees? I'm a little timid about doing this and don't want any surprises.

What are your questions after reviewing their web page on this topic?

[sc9182]

Did the Chase CPC last week - but these guys only take Brokerage funds (not IRA).

Had some pocket change IRA left at Schwab - so, asked for possible bonus - and they were willing to offer $1500 for $500k assets (ie., bring additional monies to make existing IRA level to $500k) - can do ACATs (from/after WF recent offer)

[123]

Your $5,000 bonus (taxable) on a $1M transfer will improve your annual return on the account by .5% for the 12 month initial period required by the bonus.

Transferring accounts via ACATS is a simple and reliable process. One problem area that can come up is if your transfer includes non-covered shares since the new broker generally won't receive or record any cost basis information for them.

[hmw]

Did the Chase CPC last week - but these guys only take Brokerage funds (not IRA).

Had some pocket change IRA left at Schwab - so, asked for possible bonus - and they were willing to offer $1500 for $500k assets (ie., bring additional monies to make existing IRA level to $500k) - can do ACATs (from/after WF recent offer)

Did your Chase CPC account opening take an hour? My local Chase CPC banker has no opening at all for the next 2 weeks. He states that the account opening will take up to an hour.

[AlwaysLearningMore]

Is this the organization to which OP is referring?

https://tastytrade.com/

"ABOUT US
The broker centered around traders. Using our decades of combined experience, we built a platform that helps you take control of your trading journey."

"Join the Club, Genius
- Low rates and capped commissions*
- Cutting-edge risk analysis tools
- Unscripted support. No upsells"

[Bonehead3]

Is this the organization to which OP is referring?

https://tastytrade.com/

"ABOUT US
The broker centered around traders. Using our decades of combined experience, we built a platform that helps you take control of your trading journey."

"Join the Club, Genius
- Low rates and capped commissions*
- Cutting-edge risk analysis tools
- Unscripted support. No upsells"

Yes

[Bonehead3]

Your $5,000 bonus (taxable) on a $1M transfer will improve your annual return on the account by .5% for the 12 month initial period required by the bonus.

Transferring accounts via ACATS is a simple and reliable process. One problem area that can come up is if your transfer includes non-covered shares since the new broker generally won't receive or record any cost basis information for them.

I was thinking about transferring 1M of VTI shares and moving it back in a year. No sale as I understand it. Would the previous basis come with it back to VG?

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The general rule is to open the account with the offer code and verify that it's been applied then it's just a normal acats transfer.

[nalor511]

Your $5,000 bonus (taxable) on a $1M transfer will improve your annual return on the account by .5% for the 12 month initial period required by the bonus.

Transferring accounts via ACATS is a simple and reliable process. One problem area that can come up is if your transfer includes non-covered shares since the new broker generally won't receive or record any cost basis information for them.

I was thinking about transferring 1M of VTI shares and moving it back in a year. No sale as I understand it. Would the previous basis come with it back to VG?

Yes. Take screenshots before, in case you need them

[sc9182]

Did the Chase CPC last week - but these guys only take Brokerage funds (not IRA).

Had some pocket change IRA left at Schwab - so, asked for possible bonus - and they were willing to offer $1500 for $500k assets (ie., bring additional monies to make existing IRA level to $500k) - can do ACATs (from/after WF recent offer)

Did your Chase CPC account opening take an hour? My local Chase CPC banker has no opening at all for the next 2 weeks. He states that the account opening will take up to an hour.

See if you can send email to that rep:
FN.LN@chase.com and check if she/he can expedite that appointment. First, speak to CPC rep - and consider opening Private Client banking account., followed by JPMC’c brokerage account rep (self managed, with-out AUM).

In person was kind of needed for CPC opening - luckily JPMC rep was also there that day - so had quick chat during that with JPMC rep, during in-person CPC appointment. We opened CPC account right then; followed soon by one phone call by JPMC rep (KYC, know your customer), then DocuSign for JPMC brokerage account opening (co-joined with CPC banking acct). So, one visit overall, took about an hour total.

[LadyGeek]

I merged Bonehead3's thread into the ongoing discussion.

(Thanks to the member who reported the post and provided a link to this thread.)

[slinky$]

Reached out to a local Schwab consultant, referencing Wells Fargo offer; I said I was considering to move about $600k. He reached out to "the appropriate team" and came back with nothing to offer.

I had Schwab match a Merrill Edge offer over the summer, $100k in got me $350.

Just sharing as not anywhere else to really brag about this:

-Did Wells promo for $2500
-Did CPC for $2000
-Did Schwab $350
-Now doing the Merrill Edge $750 for $200k deposit
-Also doing the m1 recurring promo $50k in 5 auto transfers for $500

Great six months or so of the brokerage game

[evelynmanley]

Reached out to a local Schwab consultant, referencing Wells Fargo offer; I said I was considering to move about $600k. He reached out to "the appropriate team" and came back with nothing to offer.

I had Schwab match a Merrill Edge offer over the summer, $100k in got me $350.

Just sharing as not anywhere else to really brag about this:

-Did Wells promo for $2500
-Did CPC for $2000
-Did Schwab $350
-Now doing the Merrill Edge $750 for $200k deposit
-Also doing the m1 recurring promo $50k in 5 auto transfers for $500

Great six months or so of the brokerage game

That's fabulous! Do you have a code for the ME $750 bonus you're referring to? I was told last week by my ME rep that there are no bonuses available right now. He said the next one might be in January for opening a CMA and Preferred Deposit. Thanks!