The Final, Definitive Thread on Brokerage Transfer Bonuses

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Tg1228
Posts: 50
Joined: Thu Dec 29, 2022 5:11 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Tg1228 »

bbrock wrote: Thu Jul 04, 2024 10:55 am
Tg1228 wrote: Wed Jul 03, 2024 12:30 pm
sc9182 wrote: Wed Jun 26, 2024 6:43 am Status update on HSBC Premier bonus promotion (since expired - hopefully this/similar-one returns again !)
Ref: viewtopic.php?p=7663109#p7663109

We've both participated in HSBC Premier bonus in March 2024; (they had strict rule to finish transfer within the limited 20-days window -- which we adhered to)

My assets transfer finished in March 15th time-frame, got the full/promised bonus posted today into Premier checking account. Sweet bonus ! :D
Hopefully, spouse also get the bonus in next month or so time-frame.
Do we need to talk to/answer calls to open checking/ brokerage account?


New promo: $2500
https://www.us.hsbc.com/checking-accoun ... ationship/
After all the drama, I did receive my $2500 bonus from HSBC. I’m not touching this place again, period. Way too much time, work, and headache getting them to honor this bonus. YMMV… good luck.
Congrats on your bonus!
In what ways, did HSBC act badly?
Rant please. It would help me so much.
fmhealth
Posts: 261
Joined: Tue Mar 25, 2008 10:24 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by fmhealth »

Does anyone know if Schwab will offer the 1% deal on 3 million? Thanks in advance for any actionable insights.

Be Well,
fmhealth
sc9182
Posts: 2301
Joined: Wed Aug 17, 2016 7:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

Tg1228 wrote: Thu Jul 04, 2024 11:08 am
bbrock wrote: Thu Jul 04, 2024 10:55 am
Tg1228 wrote: Wed Jul 03, 2024 12:30 pm
sc9182 wrote: Wed Jun 26, 2024 6:43 am Status update on HSBC Premier bonus promotion (since expired - hopefully this/similar-one returns again !)
Ref: viewtopic.php?p=7663109#p7663109

We've both participated in HSBC Premier bonus in March 2024; (they had strict rule to finish transfer within the limited 20-days window -- which we adhered to)

My assets transfer finished in March 15th time-frame, got the full/promised bonus posted today into Premier checking account. Sweet bonus ! :D
Hopefully, spouse also get the bonus in next month or so time-frame.
Do we need to talk to/answer calls to open checking/ brokerage account?


New promo: $2500
https://www.us.hsbc.com/checking-accoun ... ationship/
After all the drama, I did receive my $2500 bonus from HSBC. I’m not touching this place again, period. Way too much time, work, and headache getting them to honor this bonus. YMMV… good luck.
Congrats on your bonus!
In what ways, did HSBC act badly?
Rant please. It would help me so much.
bbrock is experienced enough to have navigated the “Bonus” fun across multiple brokerages over the years. I hear his wisdom; however, ours was smooth enough that i didn’t mind (self and spouse., both) having gone thru with HSBC bonus. Spouse’s account says Bonus deposited into its Premier account - yet to see it in the account (likely that it Holiday time!?).

Unfortunately, HSBC won’t allow re-applying for bonus, as long they have you on-their-file (multiple years even after you close the account).

Years ago - i prolly went thru travails with Citi bonus — and to add salt on the wounds — they never paid/honored the bonus even with escalations (despite the fact any/many errors were caused by them/their-side).

While at it - we have some here on BH, who got Citi bonus twice ..

Agree - neither HSBC nor one Citi are nowhere as smooth as mainstream brokers..but faster bonus payout/turn-around definitely tempts :)
Last edited by sc9182 on Thu Jul 04, 2024 12:16 pm, edited 2 times in total.
nalor511
Posts: 5447
Joined: Mon Jul 27, 2015 1:00 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

fmhealth wrote: Thu Jul 04, 2024 11:55 am Does anyone know if Schwab will offer the 1% deal on 3 million? Thanks in advance for any actionable insights.

Be Well,
fmhealth
Ask the source. Nobody knows (except Schwab)
tj
Posts: 10071
Joined: Wed Dec 23, 2009 11:10 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

fmhealth wrote: Thu Jul 04, 2024 11:55 am Does anyone know if Schwab will offer the 1% deal on 3 million? Thanks in advance for any actionable insights.

Be Well,
fmhealth
Maybe if they see your outgoing transfer request and want to prevent it.
bbrock
Posts: 1626
Joined: Mon Nov 23, 2009 7:55 pm
Location: CA

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Tg1228 wrote: Thu Jul 04, 2024 11:08 am
bbrock wrote: Thu Jul 04, 2024 10:55 am
Tg1228 wrote: Wed Jul 03, 2024 12:30 pm
sc9182 wrote: Wed Jun 26, 2024 6:43 am Status update on HSBC Premier bonus promotion (since expired - hopefully this/similar-one returns again !)
Ref: viewtopic.php?p=7663109#p7663109

We've both participated in HSBC Premier bonus in March 2024; (they had strict rule to finish transfer within the limited 20-days window -- which we adhered to)

My assets transfer finished in March 15th time-frame, got the full/promised bonus posted today into Premier checking account. Sweet bonus ! :D
Hopefully, spouse also get the bonus in next month or so time-frame.
Do we need to talk to/answer calls to open checking/ brokerage account?


New promo: $2500
https://www.us.hsbc.com/checking-accoun ... ationship/
After all the drama, I did receive my $2500 bonus from HSBC. I’m not touching this place again, period. Way too much time, work, and headache getting them to honor this bonus. YMMV… good luck.
Congrats on your bonus!
In what ways, did HSBC act badly?
Rant please. It would help me so much.
Your mileage may vary. I encourage you to try, But tread carefully. I’m just trying to tell you that this was one heck of a stress load for $2500.

When I enrolled, I received the confirmation offer code of enrollment. All instructions followed, exactly as outlined, waited my term. Weeks after my term was up, I called into discuss the bonus. The rep stated no such bonus existed, I was not enrolled in anything, And that rep couldn’t find anything in their computer. Multiple reps tried to state the same thing. I escalated my case through many different managers all the way up to manager of escalations for the entire US, or purportedly that’s what she said. Over many days, and many many hours and threats on the phone, I eventually saw the bonus.

Tread carefully. Save everything. Take screenshots of the offer and the terms and conditions. Practically have PTSD even discussing this with the frustration I endured.

HSBC is a no go for me for the future. If this is representative of how Citi would be, heck no would I touch that either.
bbrock
sc9182
Posts: 2301
Joined: Wed Aug 17, 2016 7:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

bbrock wrote: Thu Jul 04, 2024 12:59 pm
Tg1228 wrote: Thu Jul 04, 2024 11:08 am
bbrock wrote: Thu Jul 04, 2024 10:55 am
Tg1228 wrote: Wed Jul 03, 2024 12:30 pm
sc9182 wrote: Wed Jun 26, 2024 6:43 am Status update on HSBC Premier bonus promotion (since expired - hopefully this/similar-one returns again !)
Ref: viewtopic.php?p=7663109#p7663109

We've both participated in HSBC Premier bonus in March 2024; (they had strict rule to finish transfer within the limited 20-days window -- which we adhered to)

My assets transfer finished in March 15th time-frame, got the full/promised bonus posted today into Premier checking account. Sweet bonus ! :D
Hopefully, spouse also get the bonus in next month or so time-frame.
Do we need to talk to/answer calls to open checking/ brokerage account?


New promo: $2500
https://www.us.hsbc.com/checking-accoun ... ationship/
After all the drama, I did receive my $2500 bonus from HSBC. I’m not touching this place again, period. Way too much time, work, and headache getting them to honor this bonus. YMMV… good luck.
Congrats on your bonus!
In what ways, did HSBC act badly?
Rant please. It would help me so much.
Your mileage may vary. I encourage you to try, But tread carefully. I’m just trying to tell you that this was one heck of a stress load for $2500.

When I enrolled, I received the confirmation offer code of enrollment. All instructions followed, exactly as outlined, waited my term. Weeks after my term was up, I called into discuss the bonus. The rep stated no such bonus existed, I was not enrolled in anything, And that rep couldn’t find anything in their computer. Multiple reps tried to state the same thing. I escalated my case through many different managers all the way up to manager of escalations for the entire US, or purportedly that’s what she said. Over many days, and many many hours and threats on the phone, I eventually saw the bonus.

Tread carefully. Save everything. Take screenshots of the offer and the terms and conditions. Practically have PTSD even discussing this with the frustration I endured.

HSBC is a no go for me for the future. If this is representative of how Citi would be, heck no would I touch that either.
Thanks for sharing! But good news is - you never have to go thru with HSBC bonus again — as HSBC practically never allows another bonus for same individual— so, less future stress!

Hope they change their bonus re-enrollment policy - so that we (self, spouse) can double-dip round trip again :)
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UncleLeo
Posts: 274
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by UncleLeo »

fmhealth wrote: Thu Jul 04, 2024 11:55 am Does anyone know if Schwab will offer the 1% deal on 3 million? Thanks in advance for any actionable insights.

Be Well,
fmhealth
Wasn't to angle here to match Robinhood's 1% offer which expired at the end of June?
tj
Posts: 10071
Joined: Wed Dec 23, 2009 11:10 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

UncleLeo wrote: Thu Jul 04, 2024 5:51 pm
fmhealth wrote: Thu Jul 04, 2024 11:55 am Does anyone know if Schwab will offer the 1% deal on 3 million? Thanks in advance for any actionable insights.

Be Well,
fmhealth
Wasn't to angle here to match Robinhood's 1% offer which expired at the end of June?
Well now you can have them match Sofi.

https://www.mymoneyblog.com/sofi-invest ... promo.html
User avatar
UncleLeo
Posts: 274
Joined: Wed Jul 12, 2017 12:43 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by UncleLeo »

tj wrote: Thu Jul 04, 2024 5:55 pm
UncleLeo wrote: Thu Jul 04, 2024 5:51 pm
fmhealth wrote: Thu Jul 04, 2024 11:55 am Does anyone know if Schwab will offer the 1% deal on 3 million? Thanks in advance for any actionable insights.

Be Well,
fmhealth
Wasn't to angle here to match Robinhood's 1% offer which expired at the end of June?
Well now you can have them match Sofi.

https://www.mymoneyblog.com/sofi-invest ... promo.html
The Sofi promo is for IRA/401k only. The discussion above was in respect to taxable accounts
bbrock
Posts: 1626
Joined: Mon Nov 23, 2009 7:55 pm
Location: CA

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

sc9182 wrote: Thu Jul 04, 2024 1:04 pm
bbrock wrote: Thu Jul 04, 2024 12:59 pm
Tg1228 wrote: Thu Jul 04, 2024 11:08 am
bbrock wrote: Thu Jul 04, 2024 10:55 am
Tg1228 wrote: Wed Jul 03, 2024 12:30 pm

Do we need to talk to/answer calls to open checking/ brokerage account?


New promo: $2500
https://www.us.hsbc.com/checking-accoun ... ationship/
After all the drama, I did receive my $2500 bonus from HSBC. I’m not touching this place again, period. Way too much time, work, and headache getting them to honor this bonus. YMMV… good luck.
Congrats on your bonus!
In what ways, did HSBC act badly?
Rant please. It would help me so much.
Your mileage may vary. I encourage you to try, But tread carefully. I’m just trying to tell you that this was one heck of a stress load for $2500.

When I enrolled, I received the confirmation offer code of enrollment. All instructions followed, exactly as outlined, waited my term. Weeks after my term was up, I called into discuss the bonus. The rep stated no such bonus existed, I was not enrolled in anything, And that rep couldn’t find anything in their computer. Multiple reps tried to state the same thing. I escalated my case through many different managers all the way up to manager of escalations for the entire US, or purportedly that’s what she said. Over many days, and many many hours and threats on the phone, I eventually saw the bonus.

Tread carefully. Save everything. Take screenshots of the offer and the terms and conditions. Practically have PTSD even discussing this with the frustration I endured.

HSBC is a no go for me for the future. If this is representative of how Citi would be, heck no would I touch that either.
Thanks for sharing! But good news is - you never have to go thru with HSBC bonus again — as HSBC practically never allows another bonus for same individual— so, less future stress!

Hope they change their bonus re-enrollment policy - so that we (self, spouse) can double-dip round trip again :)
Thx for your words sc. And, happy that you’ve only enjoyed the + side of HSBC
bbrock
Helium
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Helium »

Anyone who's gotten a retention bonus with Merrill, how did you set that up? Did you call them, and which number should I call?

My Roth IRA has been stuck at Merrill for a year since it seems like no brokerages want to do IRA bonuses right now. Thought I might as well try to get Merrill to pay me in the meanwhile :D
tj
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Joined: Wed Dec 23, 2009 11:10 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

Helium wrote: Fri Jul 05, 2024 12:49 am Anyone who's gotten a retention bonus with Merrill, how did you set that up? Did you call them, and which number should I call?

My Roth IRA has been stuck at Merrill for a year since it seems like no brokerages want to do IRA bonuses right now. Thought I might as well try to get Merrill to pay me in the meanwhile :D

I'm not aware of anyone getting "retention bonuses" from Merrill. You move your assets somewhere else for 6 months, ideally for a bonus, and then you can get a new bonus from Merrill when you bring them back.
hmw
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Joined: Sun Mar 02, 2014 10:44 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

sc9182 wrote: Thu Jul 04, 2024 12:14 pm


Years ago - i prolly went thru travails with Citi bonus — and to add salt on the wounds — they never paid/honored the bonus even with escalations (despite the fact any/many errors were caused by them/their-side).

While at it - we have some here on BH, who got Citi bonus twice ..

Agree - neither HSBC nor one Citi are nowhere as smooth as mainstream brokers..but faster bonus payout/turn-around definitely tempts :)
I have received 2 Citi bonuses so far and currently working on a 3rd one.

Problems with Citi are well known. Their technology is stuck in 2004. Setting up an account and doing ACAT transfers were very slow compared to other brokerages.

Citi did not pay my 2nd bonus on time. I called them and was told that my account was not coded for the bonus. Apparently someone at Citi dropped the ball. Citi did a review and paid me a few days later.

Pros:
-Unlike Webull, Citi is too big to fail.
-Their clearing house (Pershing) is excellent. I have never had any cost basis issues with Citi. Cost basis are easy to see on Citi's web site.
-Large bonus for short holding period and it is churnable.
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Svensk Anga
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Svensk Anga »

tj wrote: Thu Jul 04, 2024 5:55 pm
UncleLeo wrote: Thu Jul 04, 2024 5:51 pm
fmhealth wrote: Thu Jul 04, 2024 11:55 am Does anyone know if Schwab will offer the 1% deal on 3 million? Thanks in advance for any actionable insights.

Be Well,
fmhealth
Wasn't to angle here to match Robinhood's 1% offer which expired at the end of June?
Well now you can have them match Sofi.

https://www.mymoneyblog.com/sofi-invest ... promo.html
SoFi is apparently good only for 401k (or 403b) to IRA rollovers. IRA to IRA does not count. If one is holding equity in the 401k, one could easily lose more than 1% in foregone gains while the account is in cash between custodians. For fixed income, its not much of an issue. Of course, you could miss out on a short bear market in equity while your account is in transit.

I like to roll my 401k to an IRA with the 401k custodian. In my case, that is Fidelity. I'm out of the market for a day. I can then buy equities and ACAT them out to another custodian without any market risk.
Ron Ronnerson
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Location: Bay Area

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Ron Ronnerson »

Helium wrote: Fri Jul 05, 2024 12:49 am Anyone who's gotten a retention bonus with Merrill, how did you set that up? Did you call them, and which number should I call?

My Roth IRA has been stuck at Merrill for a year since it seems like no brokerages want to do IRA bonuses right now. Thought I might as well try to get Merrill to pay me in the meanwhile :D
My wife and I got Merrill to agree to giving us retention bonuses in our Roth IRA accounts in 2023 and the bonuses posted earlier this year. I just called the regular Merrill customer service number and they connected us to someone in another department with the position of Financial Solutions Advisor. That individual said he would check what they could do and get back to us.

Communication after that initial phone call occurred by email. I posted about the experience upthread and will copy it again below.

From 6/5/24:
We have our Roth IRAs at Merrill Edge as we get good usage out of the Bank of America credit cards with platinum honors. During April of 2023, my wife had a little over $200k in her account and I had about $140k in mine.

I called Merrill Edge’s customer service line and asked about a retention bonus. They connected us to someone who said he’d check and email us back.

We were offered $200 for keeping the money with Merrill Edge for 6 months. I asked what they’d offer for a longer period of time and the guy checked again and said they could do $300 for 12 months. We went with that offer.

I received my bonus in April 2024 but my wife didn’t get hers. We waited until late May and emailed the rep back with evidence of the agreement we’d made a year ago as it was all in the email thread. After a couple of messages back and forth, my wife finally got her bonus a couple of days ago.

So while the process could have been a little smoother, it was a relatively easy $600 in Roth accounts for money we didn’t intend to transfer anyhow.
MikeZ
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Joined: Sun Dec 07, 2014 8:17 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MikeZ »

So I move a IRA ($190k) and Roth ($80k) to WellsTrade for the $2,500 bonus. My math says the bonus should post on 7/7.

As far as next step bonus, is WeBull the next best bonus? I think Robinhood is dead.
tACKJAYE
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tACKJAYE »

Were you a first-time customer? I understand it's a headache but I have had an HSBC account and earned a bonus in 2018, would I qualify?

bbrock wrote: Thu Jul 04, 2024 10:55 am
Tg1228 wrote: Wed Jul 03, 2024 12:30 pm
sc9182 wrote: Wed Jun 26, 2024 6:43 am Status update on HSBC Premier bonus promotion (since expired - hopefully this/similar-one returns again !)
Ref: viewtopic.php?p=7663109#p7663109

We've both participated in HSBC Premier bonus in March 2024; (they had strict rule to finish transfer within the limited 20-days window -- which we adhered to)

My assets transfer finished in March 15th time-frame, got the full/promised bonus posted today into Premier checking account. Sweet bonus ! :D
Hopefully, spouse also get the bonus in next month or so time-frame.
Do we need to talk to/answer calls to open checking/ brokerage account?


New promo: $2500
https://www.us.hsbc.com/checking-accoun ... ationship/
After all the drama, I did receive my $2500 bonus from HSBC. I’m not touching this place again, period. Way too much time, work, and headache getting them to honor this bonus. YMMV… good luck.
glitchy
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Joined: Sun Mar 10, 2024 10:57 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by glitchy »

In case this is useful/interesting here are some recent Schwab offerings. For background: I have had a Schwab account for 10+ years, and with assets a little over the $1M mark so I have a specific person assigned at their local office. (I've actually met him, he wasn't pushy and he answered some questions I had, so far a reasonable experience.) I'm not sure if any of that specifically helps me to get these offers but it probably doesn't hurt.

Part 1:

In mid-June I asked my guy if Schwab could do anything for me if I brought new money to Schwab, and he said that they were happy to match the current (ETrade I think?) offer of $1k bonus for $500k of new assets, and I asked if they'd match the WF offer of $2500 for $250k. He said "maybe, I'll ask the bonus department", and like a day later I got "Thank you for enrolling in the Schwab Cash Bonus Award" email confirming the $2500-for-$250k terms though with a holding period of one year. (I expected that and they reportedly will not budge on it.) It may have helped the case for approval that I had already moved around $250k into Schwab earlier this year, so in effect it's somewhat of a combination new money bonus and retention bonus since I can't draw the balance down below the previous+$250k low water mark.

Part 2:

Unsolicited, and I believe unrelated to the previous offer, I got email on 6/26 with a subject line of "Earn a cash bonus of up to $6000", and the body of the email offers the following tiers of deposit bonuses, with the numbers in parens being basis points as calculated by me. Per the email one needs to call Schwab to actually take advantage of the offer. The bonuses are fixed, not percentages; anything up to $249,999.99 is still only $300:
$50k: $300 (60)
$250k: $600 (24)
$500k: $1200 (24)
$1m: $2500 (25)
$5m: $6000 (12)

After a while of not being in the bonus game hardly at all Schwab seems to be dipping their toe back in. I'm curious if everyone (or at least some large swath of clients) also got my "Part 2" email. I doubt it was anything too targeted given that I'm already enrolled in a much better offer with them!
tj
Posts: 10071
Joined: Wed Dec 23, 2009 11:10 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

glitchy wrote: Sat Jul 06, 2024 11:08 pm In case this is useful/interesting here are some recent Schwab offerings. For background: I have had a Schwab account for 10+ years, and with assets a little over the $1M mark so I have a specific person assigned at their local office. (I've actually met him, he wasn't pushy and he answered some questions I had, so far a reasonable experience.) I'm not sure if any of that specifically helps me to get these offers but it probably doesn't hurt.

Part 1:

In mid-June I asked my guy if Schwab could do anything for me if I brought new money to Schwab, and he said that they were happy to match the current (ETrade I think?) offer of $1k bonus for $500k of new assets, and I asked if they'd match the WF offer of $2500 for $250k. He said "maybe, I'll ask the bonus department", and like a day later I got "Thank you for enrolling in the Schwab Cash Bonus Award" email confirming the $2500-for-$250k terms though with a holding period of one year. (I expected that and they reportedly will not budge on it.) It may have helped the case for approval that I had already moved around $250k into Schwab earlier this year, so in effect it's somewhat of a combination new money bonus and retention bonus since I can't draw the balance down below the previous+$250k low water mark.

Part 2:

Unsolicited, and I believe unrelated to the previous offer, I got email on 6/26 with a subject line of "Earn a cash bonus of up to $6000", and the body of the email offers the following tiers of deposit bonuses, with the numbers in parens being basis points as calculated by me. Per the email one needs to call Schwab to actually take advantage of the offer. The bonuses are fixed, not percentages; anything up to $249,999.99 is still only $300:
$50k: $300 (60)
$250k: $600 (24)
$500k: $1200 (24)
$1m: $2500 (25)
$5m: $6000 (12)

After a while of not being in the bonus game hardly at all Schwab seems to be dipping their toe back in. I'm curious if everyone (or at least some large swath of clients) also got my "Part 2" email. I doubt it was anything too targeted given that I'm already enrolled in a much better offer with them!

part 2 is the public offer. Certainly not worth it if you have Part 1 as an option:

https://www.schwab.com/investor_reward
EricGold
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EricGold »

sc9182 wrote: Mon Sep 11, 2023 12:20 pm Currently using Chase CPC bonus offer. Had in-Branch CPC visit (think this is required) and met with JPM advisor (CPC coupon requires the JPM advisor facilitated full-service brokerage account opening, without AUM). Hopefully it will all be smooth sailing once Brokerage account opens up. CPC requires $150k (?) minimum funds to not incur fees. So, this bonus may be better suited for higher tiers ..(and bonus will be Taxable)

Word of caution - IRA funds are not eligible for this bonus (the coupon does mention this - but just an additional reminder..)
My wife and I each have a $250k CD currently at Wells that matures Aug 9. I expect to use about $200k total to pay Roth conversions towards the end of this year and early next year (2025) so I'm looking for a 3 month CD or other low risk fixed income investment, along with a bonus if I can swing it.

Sound like a good candidate for the Chase CPC offer ?

I think I understand that a private banker has to agree to take us on, and that if accepted I can avoid the AUM relationship (by just saying no thanks ?)
What will I find in Chase for the 3 months fixed investment ?
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

EricGold wrote: Sun Jul 07, 2024 4:42 pm
sc9182 wrote: Mon Sep 11, 2023 12:20 pm Currently using Chase CPC bonus offer. Had in-Branch CPC visit (think this is required) and met with JPM advisor (CPC coupon requires the JPM advisor facilitated full-service brokerage account opening, without AUM). Hopefully it will all be smooth sailing once Brokerage account opens up. CPC requires $150k (?) minimum funds to not incur fees. So, this bonus may be better suited for higher tiers ..(and bonus will be Taxable)

Word of caution - IRA funds are not eligible for this bonus (the coupon does mention this - but just an additional reminder..)
My wife and I each have a $250k CD currently at Wells that matures Aug 9. I expect to use about $200k total to pay Roth conversions towards the end of this year and early next year (2025) so I'm looking for a 3 month CD or other low risk fixed income investment, along with a bonus if I can swing it.

Sound like a good candidate for the Chase CPC offer ?

I think I understand that a private banker has to agree to take us on, and that if accepted I can avoid the AUM relationship (by just saying no thanks ?)
What will I find in Chase for the 3 months fixed investment ?
Truth to be told i did no banking side at Chase - other than the non-AUM brokerage investing.

But - it does appear:
https://www.chase.com/content/dam/chase ... /rdnj1.pdf

shows 2 months CD at 100k+ (89 days seems to be allowed - guessing Chase pays its 4.75% ish rate upto 89 days instead of stopping at only 60 days — do check!!)

yes - if you can get private banking monies without using brokerage non-AUM ideas — all the more welcome !! Suggest go for it and try !!
gruesome
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Joined: Tue Oct 30, 2018 12:39 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by gruesome »

Overly-long question about people's experience with the $3K-for-$500K Chase Offer:
sc9172 wrote: Sun Jul 07, 2024 4:42 pm Currently using Chase CPC bonus offer. Had in-Branch CPC visit (think this is required) and met with JPM advisor (CPC coupon requires the JPM advisor facilitated full-service brokerage account opening, without AUM).
I went to a Chase branch on Friday (was killing time while waiting on car service to complete). I asked about the $3K offer and they routed me from a "banker" to a "Private Client Advisor".

Since bringing over $500K in cash wasn't an option (I don't have that much cash sitting idle), we talked about opening a non-retirement brokerage account at Chase and ACAT'ing in $500K in equities. He said the account couldn't be a "self-directed" but had to be "serviced" by JP Morgan. I agreed having seen those terms in the offer, and wanted to get the details of what "servicing" meant.

This is what I got:
  • The advisor was openly pushy about "we don't want you to open and close an account, we're looking for year-long commitment at least", which I was fine with. Do people these days think "one year-long" is a commitment?!?
  • I asked how to avoid the 1-something% AUM and he said I could not (this was later contradicted below).
  • The advisor initially explained how the equities I transferred over would be liquidated and a new portfolio (based on my risk tolerances and financial goals) would be created.
  • When I said "that might not be good for me at tax-time due to low cost-basis" they came back with a nonsense(?) answer about using "tax-loss harvesting" to mitigate taxes.
  • I asked if I'd have final say over when any initial trades or rebalances were made: he said I could not. "The people in New York" determine when trades happen. He was unable to "guesstimate" how many trades I'd expect to see annually on a $500K portfolio -- "like 10, 100, 1000 trades?" went unanswered.
  • I mentioned some of the equities I was planning to transfer were employer stock that I could not sell due to trading-windows, he said those stocks *could* be marked as "untradeable".
  • He confirmed my employer stock wouldn't be part of any AUM fee calculations (charged monthly).
  • When I asked "what if the whole $500K transfer was employer stock?" he pushed back saying he needed at least $200K for the portfolio if I wanted the $3K bonus.
  • That $200k figure he mentioned seemed arbitrary. I *think* I got him to change that to $100K as part of our conversation.
At that point I got a text my car was ready so I thanked him for his time and to wrap up the conversation I got pretty blunt: "my focus today was to learn about the $3K bonus. I'd love to start a multi-year relationship with you as my guide to learn more about CPC's portfolio suggestions, but I don't want the equities used to qualify for this first bonus to be 1) traded or 2) subject to an AUM fee."

He said no to that (well, in sales-talk without actually saying no), and I went on my way.

What could I have done differently to achieve the "3K-for-500k-of-VTI-for-one-year" deal I was hoping for?
tj
Posts: 10071
Joined: Wed Dec 23, 2009 11:10 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

Go to a different branch that doesn't have sleazy sales person?
sc9182
Posts: 2301
Joined: Wed Aug 17, 2016 7:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

gruesome wrote: Sun Jul 07, 2024 8:35 pm Overly-long question about people's experience with the $3K-for-$500K Chase Offer:
sc9172 wrote: Sun Jul 07, 2024 4:42 pm Currently using Chase CPC bonus offer. Had in-Branch CPC visit (think this is required) and met with JPM advisor (CPC coupon requires the JPM advisor facilitated full-service brokerage account opening, without AUM).
I went to a Chase branch on Friday (was killing time while waiting on car service to complete). I asked about the $3K offer and they routed me from a "banker" to a "Private Client Advisor".

Since bringing over $500K in cash wasn't an option (I don't have that much cash sitting idle), we talked about opening a non-retirement brokerage account at Chase and ACAT'ing in $500K in equities. He said the account couldn't be a "self-directed" but had to be "serviced" by JP Morgan. I agreed having seen those terms in the offer, and wanted to get the details of what "servicing" meant.

This is what I got:
  • The advisor was openly pushy about "we don't want you to open and close an account, we're looking for year-long commitment at least", which I was fine with. Do people these days think "one year-long" is a commitment?!?
  • I asked how to avoid the 1-something% AUM and he said I could not (this was later contradicted below).
  • The advisor initially explained how the equities I transferred over would be liquidated and a new portfolio (based on my risk tolerances and financial goals) would be created.
  • When I said "that might not be good for me at tax-time due to low cost-basis" they came back with a nonsense(?) answer about using "tax-loss harvesting" to mitigate taxes.
  • I asked if I'd have final say over when any initial trades or rebalances were made: he said I could not. "The people in New York" determine when trades happen. He was unable to "guesstimate" how many trades I'd expect to see annually on a $500K portfolio -- "like 10, 100, 1000 trades?" went unanswered.
  • I mentioned some of the equities I was planning to transfer were employer stock that I could not sell due to trading-windows, he said those stocks *could* be marked as "untradeable".
  • He confirmed my employer stock wouldn't be part of any AUM fee calculations (charged monthly).
  • When I asked "what if the whole $500K transfer was employer stock?" he pushed back saying he needed at least $200K for the portfolio if I wanted the $3K bonus.
  • That $200k figure he mentioned seemed arbitrary. I *think* I got him to change that to $100K as part of our conversation.
At that point I got a text my car was ready so I thanked him for his time and to wrap up the conversation I got pretty blunt: "my focus today was to learn about the $3K bonus. I'd love to start a multi-year relationship with you as my guide to learn more about CPC's portfolio suggestions, but I don't want the equities used to qualify for this first bonus to be 1) traded or 2) subject to an AUM fee."

He said no to that (well, in sales-talk without actually saying no), and I went on my way.

What could I have done differently to achieve the "3K-for-500k-of-VTI-for-one-year" deal I was hoping for?
Sorry about your not-so-fruitful experience. Unfortunately, one of our neighbors experienced same issue from the same (as ours) advisor (AUM) - who was friendly/nice to us and to couple of our referrals about 2-3 months since. But this weekend - that advisor was firm NOT allowing non-Aum account. What gives !?

My suggestion is try your luck/time at another branch (get an online appointment). If your new private Banker is nice (and you being super nice to her/him along the way - maybe you tell the private-banker your upcoming New home purchase - and learning advantages of Chase’s great relationship banking mortgage discounts, or give high-marks about how great you/your friends feel about private-banking among other things .. the Banker need to see decent value out of you - some value-add items or not necessarily monetary, some may be accrete value in future, say when you buy a home and such !!) Once the private banker is your friend - they make non-AUM account recommendation from the advisor - lot easier (besides - you still going to be nice to the JPMC advisor). One more thing is typically off-limits is leveraged investments (such as one SSO or such) - do indicate you have now (or, will be interested to by some leveraged funds in near future with a portion of portfolio) -
it’s an Advisors/managed-professionals Kryptonite !! Likely they would understand the point - also mention, let Chase keep monies from Securities lending from your account.

Sorry for this American Novel ; mentioned most of these points to give you talking points (and additional idears).

Good luck on your next private
banker appointment!! (our friend doing the same ..)
hmw
Posts: 1320
Joined: Sun Mar 02, 2014 10:44 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

gruesome wrote: Sun Jul 07, 2024 8:35 pm Overly-long question about people's experience with the $3K-for-$500K Chase Offer:
sc9172 wrote: Sun Jul 07, 2024 4:42 pm Currently using Chase CPC bonus offer. Had in-Branch CPC visit (think this is required) and met with JPM advisor (CPC coupon requires the JPM advisor facilitated full-service brokerage account opening, without AUM).
I went to a Chase branch on Friday (was killing time while waiting on car service to complete). I asked about the $3K offer and they routed me from a "banker" to a "Private Client Advisor".

Since bringing over $500K in cash wasn't an option (I don't have that much cash sitting idle), we talked about opening a non-retirement brokerage account at Chase and ACAT'ing in $500K in equities. He said the account couldn't be a "self-directed" but had to be "serviced" by JP Morgan. I agreed having seen those terms in the offer, and wanted to get the details of what "servicing" meant.

This is what I got:
  • The advisor was openly pushy about "we don't want you to open and close an account, we're looking for year-long commitment at least", which I was fine with. Do people these days think "one year-long" is a commitment?!?
  • I asked how to avoid the 1-something% AUM and he said I could not (this was later contradicted below).
  • The advisor initially explained how the equities I transferred over would be liquidated and a new portfolio (based on my risk tolerances and financial goals) would be created.
  • When I said "that might not be good for me at tax-time due to low cost-basis" they came back with a nonsense(?) answer about using "tax-loss harvesting" to mitigate taxes.
  • I asked if I'd have final say over when any initial trades or rebalances were made: he said I could not. "The people in New York" determine when trades happen. He was unable to "guesstimate" how many trades I'd expect to see annually on a $500K portfolio -- "like 10, 100, 1000 trades?" went unanswered.
  • I mentioned some of the equities I was planning to transfer were employer stock that I could not sell due to trading-windows, he said those stocks *could* be marked as "untradeable".
  • He confirmed my employer stock wouldn't be part of any AUM fee calculations (charged monthly).
  • When I asked "what if the whole $500K transfer was employer stock?" he pushed back saying he needed at least $200K for the portfolio if I wanted the $3K bonus.
  • That $200k figure he mentioned seemed arbitrary. I *think* I got him to change that to $100K as part of our conversation.
At that point I got a text my car was ready so I thanked him for his time and to wrap up the conversation I got pretty blunt: "my focus today was to learn about the $3K bonus. I'd love to start a multi-year relationship with you as my guide to learn more about CPC's portfolio suggestions, but I don't want the equities used to qualify for this first bonus to be 1) traded or 2) subject to an AUM fee."

He said no to that (well, in sales-talk without actually saying no), and I went on my way.

What could I have done differently to achieve the "3K-for-500k-of-VTI-for-one-year" deal I was hoping for?
My experience with Chase was different. I have done this Chase bonus twice. One in 2020 and more recently in 2024. I was able to open a non-AUM brokerage account serviced by an investment advisor.

If you haven't done the Wells Fargo bonus, maybe you want to that one instead of Chase. Or try another Chase branch if you are persistent.
sc9182
Posts: 2301
Joined: Wed Aug 17, 2016 7:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

Increased Brokerage Transfer-in promo/bonus came-thru with WeBull: 2% transfer-in bonus for 2-years term (bonus accrued/vested at 1% for each year); See following for clear/full terms:

https://www.webull.com/offers-promotions/transfer-promo

Personally - we don't have much experience with WeBull, nor its possible issues with (reported by someone else) "cost-basis" or "tax-lot cost basis"
Given this bonus is for Brokerage funds - I am sure cost-basis should be lot more important to preserve/carry-forward especially during when one Transfers-out ..
If you have simple set of holdings, and/or limited tax-lots -- may be you preserve those lot/purchase-date details real-good, before you transfer-in (and the lot details could be real handy when transfer-out at new-institution - so that the new institution can do manually re-enter cost-basis/lot-basis)
nalor511
Posts: 5447
Joined: Mon Jul 27, 2015 1:00 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

sc9182 wrote: Sun Jul 07, 2024 11:57 pm Increased Brokerage Transfer-in promo/bonus came-thru with WeBull: 2% transfer-in bonus for 2-years term (bonus accrued/vested at 1% for each year); See following for clear/full terms:

https://www.webull.com/offers-promotions/transfer-promo

Personally - we don't have much experience with WeBull, nor its possible issues with (reported by someone else) "cost-basis" or "tax-lot cost basis"
Given this bonus is for Brokerage funds - I am sure cost-basis should be lot more important to preserve/carry-forward especially during when one Transfers-out ..
If you have simple set of holdings, and/or limited tax-lots -- may be you preserve those lot/purchase-date details real-good, before you transfer-in (and the lot details could be real handy when transfer-out at new-institution - so that the new institution can do manually re-enter cost-basis/lot-basis)
Good news. I am hopeful there will be a nice bonus when my hold period ends in Oct. Webull 2% bonus exp 7/31/2024
EnjoyIt
Posts: 8564
Joined: Sun Dec 29, 2013 7:06 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

I had issues with Webull transferring cost basis to Schwab. It took a few months of back and forth to get it done. Every correspondence said that they sent it but the receiving firm saying they never received it. Finally I threatened filling a complaint at the FTC and SEC. Cost basis was transferred electronically the next business day.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
ZinCO
Posts: 375
Joined: Thu Nov 05, 2015 8:42 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ZinCO »

Just got a new email offer from E-Trade, for adding assets to existing accounts. Good through July 31, 6 month hold period.

Cash credits will be granted based on deposits of new funds or securities from external accounts made within 60 days of enrollment, as follows: $5,000-$24,999 will receive $100; $25,000-$99,999 will receive $250; $100,000-$199,999 will receive $625; $200,000-$499,999 will receive $1,000; $500,000-$999,999 will receive $2,000; $1,000,000-$1,999,999 will receive $4,500; $2,000,000-$4,999,999 will receive $6,000; $5,000,000-$9,999,999 will receive $7,500; $10,000,000-$14,999,999 will receive $12,500; $15,000,000 or more will receive $17,500.
tACKJAYE
Posts: 164
Joined: Mon Nov 07, 2022 7:35 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tACKJAYE »

Great offer. Same as one that ended on 4/30/24 except that this one has three more tiers for 5M and up.
ZinCO wrote: Mon Jul 08, 2024 11:13 am Just got a new email offer from E-Trade, for adding assets to existing accounts. Good through July 31, 6 month hold period.

Cash credits will be granted based on deposits of new funds or securities from external accounts made within 60 days of enrollment, as follows: $5,000-$24,999 will receive $100; $25,000-$99,999 will receive $250; $100,000-$199,999 will receive $625; $200,000-$499,999 will receive $1,000; $500,000-$999,999 will receive $2,000; $1,000,000-$1,999,999 will receive $4,500; $2,000,000-$4,999,999 will receive $6,000; $5,000,000-$9,999,999 will receive $7,500; $10,000,000-$14,999,999 will receive $12,500; $15,000,000 or more will receive $17,500.
potatogun
Posts: 149
Joined: Thu Dec 15, 2022 11:03 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by potatogun »

For those pursuing Chase Private Client bonuses (like gruesome) and facing resistance to opening a JPM serviced account that does not have AUM % fees on top, aside from trying another advisor as already suggested, you can also tease you want to start with understanding the platform before jumping right into an AUM relationship.

You can signal you're open AUM down the road and then not proceed after being presented with the investment plan and agreement. Of course this is more awkward and annoying from an interpersonal perspective. But if you're facing resistance after multiple advisor/branch conversions, it's a tactic to consider.

Once you have a JPM wealth management brokerage account ("full service") open, it seems way easier to churn the bonus. My second go around I just opened the checking with a CPC banker and they did a follow-up on who was my advisor (again) with my existing brokerage account. I was enrolled in the promo and could self-initiate ACATS (online) at this point, so I did not really care who became my actual advisor.
nalor511
Posts: 5447
Joined: Mon Jul 27, 2015 1:00 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

potatogun wrote: Mon Jul 08, 2024 1:00 pm For those pursuing Chase Private Client bonuses (like gruesome) and facing resistance to opening a JPM serviced account that does not have AUM % fees on top, aside from trying another advisor as already suggested, you can also tease you want to start with understanding the platform before jumping right into an AUM relationship.

You can signal you're open AUM down the road and then not proceed after being presented with the investment plan and agreement. Of course this is more awkward and annoying from an interpersonal perspective. But if you're facing resistance after multiple advisor/branch conversions, it's a tactic to consider.

Once you have a JPM wealth management brokerage account ("full service") open, it seems way easier to churn the bonus. My second go around I just opened the checking with a CPC banker and they did a follow-up on who was my advisor (again) with my existing brokerage account. I was enrolled in the promo and could self-initiate ACATS (online) at this point, so I did not really care who became my actual advisor.
There are other bonuses around. It wasn't worth dealing with Chase, in my experience. The service I received processing my transfer form was abysmal, and I left (to pursue higher bonuses) and closed my accounts sans bonus
potatogun
Posts: 149
Joined: Thu Dec 15, 2022 11:03 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by potatogun »

Of course there are. People may still want to pursue it. Citi PWM, Wells Premier, HSBC Premier... also have their idiosyncrasies and may not be worth the effort to some, especially when things go awry. Astute bonus chasers (no pun intended) will prioritize the options given risk/reward/ease.
nalor511 wrote: Mon Jul 08, 2024 1:16 pm There are other bonuses around. It wasn't worth dealing with Chase, in my experience. The service I received processing my transfer form was abysmal, and I left (to pursue higher bonuses) and closed my accounts sans bonus
nalor511
Posts: 5447
Joined: Mon Jul 27, 2015 1:00 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

I've done a lot of them. Chase was the worst service I every received. Worse than Public. Anywho, YMMV
potatogun wrote: Mon Jul 08, 2024 1:58 pm Of course there are. People may still want to pursue it. Citi PWM, Wells Premier, HSBC Premier... also have their idiosyncrasies and may not be worth the effort to some, especially when things go awry. Astute bonus chasers (no pun intended) will prioritize the options given risk/reward/ease.
nalor511 wrote: Mon Jul 08, 2024 1:16 pm There are other bonuses around. It wasn't worth dealing with Chase, in my experience. The service I received processing my transfer form was abysmal, and I left (to pursue higher bonuses) and closed my accounts sans bonus
hmw
Posts: 1320
Joined: Sun Mar 02, 2014 10:44 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

EnjoyIt wrote: Mon Jul 08, 2024 9:16 am I had issues with Webull transferring cost basis to Schwab. It took a few months of back and forth to get it done. Every correspondence said that they sent it but the receiving firm saying they never received it. Finally I threatened filling a complaint at the FTC and SEC. Cost basis was transferred electronically the next business day.
I have moved money in and out of Webull a few times and I have never had a smooth experience. I keep coming back because the bonus is so juciy. :happy

Webull claimed that it had not received the cost basis from the sending firm, even after I asked the sending firm to re-send. I think in the end, I sent Webull a screens shot of my cost basis and Webull uploaded to their backoffice. I then transferred this asset to RH. Again, it took a long time for RH to receive the cost basis from Webull. After repeatedly contacting Webull, and threatening to file a complaint with FINRA, RH finally got the cost basis.

More recently, I did another transfer to Webull for their 3% bonus over 2 years. Again, Webull claimed repeatedly that it didn't receive the cost basis. I asked Fido to resend. Webull still told me that they didn't have the cost basis. Fido gave me the reference numbers for the transferred cost basis, which I forwarded to Webull. Nothing for almost 2 weeks. I then threatened to file a formal complaint with FINRA, miraculously Webull found the cost basis 2 days later.

Make sure you keep a screen shot of the cost basis before transferring to Webull, and check the cost basis againt your own record after the transfer. Prepare for frustration.
hmw
Posts: 1320
Joined: Sun Mar 02, 2014 10:44 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

sc9182 wrote: Sun Jul 07, 2024 11:57 pm Increased Brokerage Transfer-in promo/bonus came-thru with WeBull: 2% transfer-in bonus for 2-years term (bonus accrued/vested at 1% for each year); See following for clear/full terms:

https://www.webull.com/offers-promotions/transfer-promo

Personally - we don't have much experience with WeBull, nor its possible issues with (reported by someone else) "cost-basis" or "tax-lot cost basis"
Given this bonus is for Brokerage funds - I am sure cost-basis should be lot more important to preserve/carry-forward especially during when one Transfers-out ..
If you have simple set of holdings, and/or limited tax-lots -- may be you preserve those lot/purchase-date details real-good, before you transfer-in (and the lot details could be real handy when transfer-out at new-institution - so that the new institution can do manually re-enter cost-basis/lot-basis)
Webull in fact had a better offer in April this year. 3% bonus for a 2-year hold.

I have never had a smooth cost basis transfer experience with Webull. See my post above. Make sure you keep a screenshot of the cost basis before initiating the transfer and follow up with Webull to make sure the cost basis are correct. You can't see your cost basis on their app or website.
sc9182
Posts: 2301
Joined: Wed Aug 17, 2016 7:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

hmw wrote: Mon Jul 08, 2024 9:51 pm
sc9182 wrote: Sun Jul 07, 2024 11:57 pm Increased Brokerage Transfer-in promo/bonus came-thru with WeBull: 2% transfer-in bonus for 2-years term (bonus accrued/vested at 1% for each year); See following for clear/full terms:

https://www.webull.com/offers-promotions/transfer-promo

Personally - we don't have much experience with WeBull, nor its possible issues with (reported by someone else) "cost-basis" or "tax-lot cost basis"
Given this bonus is for Brokerage funds - I am sure cost-basis should be lot more important to preserve/carry-forward especially during when one Transfers-out ..
If you have simple set of holdings, and/or limited tax-lots -- may be you preserve those lot/purchase-date details real-good, before you transfer-in (and the lot details could be real handy when transfer-out at new-institution - so that the new institution can do manually re-enter cost-basis/lot-basis)
Webull in fact had a better offer in April this year. 3% bonus for a 2-year hold.

I have never had a smooth cost basis transfer experience with Webull. See my post above. Make sure you keep a screenshot of the cost basis before initiating the transfer and follow up with Webull to make sure the cost basis are correct. You can't see your cost basis on their app or website.
yup - good records (preserve cost basis of lots and respective purchase dates) - prior-to and after the transfers.

In December took part in WeBull’s 1.8% bonus on IRA for 1-year - have to hold these funds till Dec 2024. Reading from t&c for this webull 2% bonus, it looks like - one can’t have more than one ongoing bonus participation. So, couldn’t do then-3% or current 2% brokerage bonus (for the 2-years hold).

Have anyone tried/succeeded getting multiple bonus simultaneously at WeBull!? we would rather have this matched by bigger brokerage houses. Even if we get about 0.5% bonus for 6-months or for 1-year hold — from bigger firm - would love it !
kchico
Posts: 96
Joined: Wed Jul 24, 2013 6:58 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by kchico »

To get the Wells Fargo Bonus do I have to wait 90 days? My parents opened a premier account and deposit $300k into a Wells Fargo Brokerage about 35 days ago and they haven't received their bonus which I though they would get within 30 days.
jocdoc
Posts: 296
Joined: Wed Oct 30, 2013 5:29 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jocdoc »

the bonus is deposited at/after 90 days for the wf bonus.make sure the brokerage acct and the premier checking account is linked
02nz
Posts: 10722
Joined: Wed Feb 21, 2018 2:17 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz »

kchico wrote: Tue Jul 09, 2024 6:09 pm To get the Wells Fargo Bonus do I have to wait 90 days? My parents opened a premier account and deposit $300k into a Wells Fargo Brokerage about 35 days ago and they haven't received their bonus which I though they would get within 30 days.
Suggest you read the terms: https://accountoffers.wellsfargo.com/premierbonus/

Reading the terms and condtions is super important with these bonuses!
m2go
Posts: 109
Joined: Fri Jun 17, 2011 7:05 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by m2go »

whonoze wrote: Wed Jan 03, 2024 12:39 pm
tj wrote: Wed Jan 03, 2024 11:36 am
Do you really want to move 7 figures to a Chinese app brokerage?
Hmm, maybe not, but I really need to write about my recent incredibly bad experience with Wells Fargo Brokerage...
Yes, Wells Fargo sucks. Citi sucks even more IMO.
need403bhelp
Posts: 1701
Joined: Thu May 28, 2015 6:25 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by need403bhelp »

Just did test transfer from Interactive Brokers to Fidelity. Cost basis not transferred over yet but interestingly it lets me choose cost basis myself for “uncovered” shares despite all shares being covered. Is this normal and I just didn’t notice it before while cost basis is still transferring over? Or did I do something wrong at Interactive Brokers that cost basis is not being transferred correctly?

Thanks!
User avatar
sycamore
Posts: 6701
Joined: Tue May 08, 2018 12:06 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

need403bhelp wrote: Thu Jul 11, 2024 8:14 am Just did test transfer from Interactive Brokers to Fidelity. Cost basis not transferred over yet but interestingly it lets me choose cost basis myself for “uncovered” shares despite all shares being covered. Is this normal and I just didn’t notice it before while cost basis is still transferring over? Or did I do something wrong at Interactive Brokers that cost basis is not being transferred correctly?

Thanks!
It's not uncommon for transfer of cost basis info to lag transfer of the assets. Wait a week or so and then check back.
need403bhelp
Posts: 1701
Joined: Thu May 28, 2015 6:25 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by need403bhelp »

sycamore wrote: Thu Jul 11, 2024 11:25 am
need403bhelp wrote: Thu Jul 11, 2024 8:14 am Just did test transfer from Interactive Brokers to Fidelity. Cost basis not transferred over yet but interestingly it lets me choose cost basis myself for “uncovered” shares despite all shares being covered. Is this normal and I just didn’t notice it before while cost basis is still transferring over? Or did I do something wrong at Interactive Brokers that cost basis is not being transferred correctly?

Thanks!
It's not uncommon for transfer of cost basis info to lag transfer of the assets. Wait a week or so and then check back.
Ok will do thanks!
ChicagoTom
Posts: 3
Joined: Thu Feb 20, 2020 6:32 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ChicagoTom »

Has anyone successfully had Fidelity or Schwab match Webull's 3.5% match for retirement accounts?
tj
Posts: 10071
Joined: Wed Dec 23, 2009 11:10 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

ChicagoTom wrote: Thu Jul 11, 2024 4:40 pm Has anyone successfully had Fidelity or Schwab match Webull's 3.5% match for retirement accounts?
Of course not. If you want that deal, you need to go to webull.
tACKJAYE
Posts: 164
Joined: Mon Nov 07, 2022 7:35 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tACKJAYE »

Do I have to liquidate my IRA or WeBull would hold any/all securities from my Fidelity IRA? Most of the holdings are in mutual funds.
tj wrote: Thu Jul 11, 2024 4:42 pm
ChicagoTom wrote: Thu Jul 11, 2024 4:40 pm Has anyone successfully had Fidelity or Schwab match Webull's 3.5% match for retirement accounts?
Of course not. If you want that deal, you need to go to webull.
tj
Posts: 10071
Joined: Wed Dec 23, 2009 11:10 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

tACKJAYE wrote: Thu Jul 11, 2024 5:55 pm Do I have to liquidate my IRA or WeBull would hold any/all securities from my Fidelity IRA? Most of the holdings are in mutual funds.
tj wrote: Thu Jul 11, 2024 4:42 pm
ChicagoTom wrote: Thu Jul 11, 2024 4:40 pm Has anyone successfully had Fidelity or Schwab match Webull's 3.5% match for retirement accounts?
Of course not. If you want that deal, you need to go to webull.
I'm pretty sure webull does not accept mutual funds. Buy your etfs at fidelity first. If you have preferred mutual funds for years and years, why would you pursue this? The webull app kind of sucks.
tACKJAYE
Posts: 164
Joined: Mon Nov 07, 2022 7:35 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tACKJAYE »

Thanks, I was just contemplating to see if it's worth it. But the offer is ending soon and it's over 5 years, so I guess I may just hold off for now.

On a side note, if firms like WeBull go underwater, are investments protected or are they just Fintech firms?
tj wrote: Thu Jul 11, 2024 6:10 pm
tACKJAYE wrote: Thu Jul 11, 2024 5:55 pm Do I have to liquidate my IRA or WeBull would hold any/all securities from my Fidelity IRA? Most of the holdings are in mutual funds.
tj wrote: Thu Jul 11, 2024 4:42 pm
ChicagoTom wrote: Thu Jul 11, 2024 4:40 pm Has anyone successfully had Fidelity or Schwab match Webull's 3.5% match for retirement accounts?
Of course not. If you want that deal, you need to go to webull.
I'm pretty sure webull does not accept mutual funds. Buy your etfs at fidelity first. If you have preferred mutual funds for years and years, why would you pursue this? The webull app kind of sucks.
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