The Final, Definitive Thread on Brokerage Transfer Bonuses

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jimjam600
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jimjam600 »

Does anyone have experience with pulling money after a bonus has posted but before the minimum length period? Asking specifically about TD Ameritrade and E-Trade.

Also, as a datapoint, I was able to get TD Ameritrade to match Merill's offer for $900 after depositing $200k. They initially had said they'd match e-trade's offer for $1000 after $200k, but failed to process it fast enough, and when I inquired, the e-trade offer was gone. I could have made a fuss about it (they told me one thing after all), but decided it wasn't worth the effort for $100.

Thanks in advance.
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

jimjam600 wrote: Fri Apr 02, 2021 1:10 pm Does anyone have experience with pulling money after a bonus has posted but before the minimum length period? Asking specifically about TD Ameritrade and E-Trade.
TDA will claw back any cash in the account up to the bonus amount if you fully transfer out. I accidentally did this two years ago and had like $600 of the $1000 bonus remaining and they just claimed all of that.

For the TDA offer match, may I ask who you contacted? The 800-number, or a local rep, etc.? Thanks
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

jimjam600 wrote: Fri Apr 02, 2021 1:10 pm

Also, as a datapoint, I was able to get TD Ameritrade to match Merill's offer for $900 after depositing $200k. They initially had said they'd match e-trade's offer for $1000 after $200k, but failed to process it fast enough, and when I inquired, the e-trade offer was gone. I could have made a fuss about it (they told me one thing after all), but decided it wasn't worth the effort for $100.
Who did you contact at TDA to get the Merrill Edge offer? Their 1-800 number or your local rep?

Thanks
jimjam600
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jimjam600 »

Local rep. He had to get it approved.
jimjam600
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jimjam600 »

pre wrote: Fri Apr 02, 2021 3:04 pm
jimjam600 wrote: Fri Apr 02, 2021 1:10 pm Does anyone have experience with pulling money after a bonus has posted but before the minimum length period? Asking specifically about TD Ameritrade and E-Trade.
TDA will claw back any cash in the account up to the bonus amount if you fully transfer out. I accidentally did this two years ago and had like $600 of the $1000 bonus remaining and they just claimed all of that.

For the TDA offer match, may I ask who you contacted? The 800-number, or a local rep, etc.? Thanks
What if you don't fully transfer out? (ie., only partial transfer)?
Nummerkins
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Nummerkins »

I just received my $900 bonus from Merrill Edge for the 2nd time. Time to move again!
Today's high is tomorrow's low.
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

Startled Cat wrote: Sat Mar 06, 2021 10:25 am
tj wrote: Sat Mar 06, 2021 10:20 am Because the vested price is apparently your cost basis instead of the price on the date if the gift. I guess it depends on what price they 1099 you for the free stock.
I'm not a tax expert, but I would expect that if the cost basis is the value at vesting time, that's the value they'll put on the 1099. Either way, you'd pay taxes on gains.
When I look at my monthly activity it shows grant award dates on the two dates that i transferred in funds with vesting dates 12 months after each deposit. It shows a cost basis of when it was granted. This makes me wonder if perhaps next year if I'll receive a 1099-Misc for the grant at the original value and then any growth or loss would be on a 1099-B for long term because it was held for a year?

It looks like I received a payment in lieu of dividend on my IB stock, but I don't see where I received any interest income.
sfinsf
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sfinsf »

jeffyscott wrote: Thu Mar 11, 2021 7:45 am
pre wrote: Wed Mar 10, 2021 7:55 pm
WorldWanderer wrote: Fri Apr 19, 2019 12:00 am Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $4,000,000 or more will receive $10,000; $3,000,000-$3,999,999 will receive $8,000; $2,000,000-$2,999,999 will receive $6,000; $1,000,000-$1,999,999 will receive $4,000; $500,000-$999,999 will receive $2,000.
Just wanted to share this above offer is still available with Etrade.
Where are you seeing (or how are you getting) this offer?

I found an expired one that is close for those of us who are not multi-millionaires, at $3500 for $1 mil and $1800 for $500K as the top two tiers: https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Looks like that link (up to $3500) has been reactivated, now shows good through 12/31/21. I took the advice to call to see if I could get it up to the $4000 posted above ($2k for $500k), and they gave me to a local financial consultant. He didn't even know about the $3500 one, but I sent it to him and he validated it. He also found the $4000 offer after I told him about it, but seems it has to be approved by a manager (as mentioned by @pre), so he's pushing it up to see if he can get me that. (I tried swapping out 3500 for 4000 in the URL but no luck.)

I'll post back with the outcome.
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jeffyscott
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott »

sfinsf wrote: Tue Apr 06, 2021 8:07 pm
jeffyscott wrote: Thu Mar 11, 2021 7:45 am
pre wrote: Wed Mar 10, 2021 7:55 pm
WorldWanderer wrote: Fri Apr 19, 2019 12:00 am Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $4,000,000 or more will receive $10,000; $3,000,000-$3,999,999 will receive $8,000; $2,000,000-$2,999,999 will receive $6,000; $1,000,000-$1,999,999 will receive $4,000; $500,000-$999,999 will receive $2,000.
Just wanted to share this above offer is still available with Etrade.
Where are you seeing (or how are you getting) this offer?

I found an expired one that is close for those of us who are not multi-millionaires, at $3500 for $1 mil and $1800 for $500K as the top two tiers: https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Looks like that link (up to $3500) has been reactivated, now shows good through 12/31/21. I took the advice to call to see if I could get it up to the $4000 posted above ($2k for $500k), and they gave me to a local financial consultant. He didn't even know about the $3500 one, but I sent it to him and he validated it. He also found the $4000 offer after I told him about it, but seems it has to be approved by a manager (as mentioned by @pre), so he's pushing it up to see if he can get me that. (I tried swapping out 3500 for 4000 in the URL but no luck.)

I'll post back with the outcome.
Thanks, that'll be an extra $600 to my spouse, with the $1800 vs. $1200. We will be satisfied with getting Schwab to match that public offer. Nice that there will be a payoff from the delay in getting her rollover going, due to the abysmal customer service she has been getting from T. Rowe Price.
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

The Etrade bonus is retirement accounts only ?

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
ksualum
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ksualum »

I was wondering about that too. Is it only retirement accounts or would it include taxable/brokerage accounts?
ZinCO
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ZinCO »

The old CFC3500 bonus was not restricted to IRAs only, but this one is (as reflected by the new URL - ira-cfc3500). Will be interesting to see if anyone can get them to honor this for taxable accounts?
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jeffyscott
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by jeffyscott »

Often they have parallel offers, but seems that is not the case for this one. Many expired offers for taxable accounts link to this:
https://us.etrade.com/what-we-offer/how ... /brokerage

but it's currently dead.
Mike14
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 »

I previously did a transfer from Fido to Ally, and my cost basis got mixed up as average cost (even though tracked as specific ID in Fidelity), and nobody on Fido or Ally seem to be able to fix it.
Has someone successfully transferred mutual funds to Ally while keeping SpecID cost information intact?
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

Mike14 wrote: Fri Apr 09, 2021 12:26 pm
I previously did a transfer from Fido to Ally, and my cost basis got mixed up as average cost (even though tracked as specific ID in Fidelity), and nobody on Fido or Ally seem to be able to fix it.
Has someone successfully transferred mutual funds to Ally while keeping SpecID cost information intact?
Yes, about 4-5 months ago. It took about 1 week after the transfer to get the specID
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
sfinsf
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sfinsf »

sfinsf wrote: Tue Apr 06, 2021 8:07 pm
jeffyscott wrote: Thu Mar 11, 2021 7:45 am
pre wrote: Wed Mar 10, 2021 7:55 pm
WorldWanderer wrote: Fri Apr 19, 2019 12:00 am Cash credits for eligible deposits or transfers of new funds or securities from accounts outside of E*TRADE will be made as follows: $4,000,000 or more will receive $10,000; $3,000,000-$3,999,999 will receive $8,000; $2,000,000-$2,999,999 will receive $6,000; $1,000,000-$1,999,999 will receive $4,000; $500,000-$999,999 will receive $2,000.
Just wanted to share this above offer is still available with Etrade.
Where are you seeing (or how are you getting) this offer?

I found an expired one that is close for those of us who are not multi-millionaires, at $3500 for $1 mil and $1800 for $500K as the top two tiers: https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Looks like that link (up to $3500) has been reactivated, now shows good through 12/31/21. I took the advice to call to see if I could get it up to the $4000 posted above ($2k for $500k), and they gave me to a local financial consultant. He didn't even know about the $3500 one, but I sent it to him and he validated it. He also found the $4000 offer after I told him about it, but seems it has to be approved by a manager (as mentioned by @pre), so he's pushing it up to see if he can get me that. (I tried swapping out 3500 for 4000 in the URL but no luck.)

I'll post back with the outcome.
Ah, well, it was a no go on the higher $4k max offer for me. The FC's manager apparently said it was because I was a new customer to eTrade and have no history of trading/accounts with them, so they did not have a basis for calculating my future profitability. But in any case, I got the $3.5k max offer applied, using the link https://us.etrade.com/what-we-offer/how ... ra-cfc3500.
klaus14
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by klaus14 »

I have a ~1M account in Etrade now. I moved my money there a year ago.
Do they typically match outside offers to keep your account there?
My investment algorithm: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=351899&p=6112869#p6112869
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

TRANSFER YOUR INVESTMENTS to M1Finance and EARN UP TO $4,000 bonus :

500k — $1000 bonus
$1 Million - $2500 bonus
$2 Million - $4000 bonus

Submit a transfer request from another brokerage account to M1 during promotion period (4/5/2021– 5/31/2021).
Promotional credits/bonus will be paid to eligible clients on August 31, 2021.

(Bonus sure got deposited on-time every time for me/cohorts !!)

Ref/Linky:
https://www.m1finance.com/transfer4000/

NOTE: please go thru some of the M1 Finance idiosyncrasies in previous pages of this thread — this/M1 is mostly geared for “buy and hold” type folks - not as much to “traders” ..
motorcyclesarecool
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by motorcyclesarecool »

The e*trade $25k tier seems pretty lucrative. Between my Roth and DW’s, we could earn $400 for transferring $50k. And we’d still be able to take advantage of other better six figure offers that may arise. No problem leaving $25k each with e*trade for a year. Is there something I’m not seeing here?
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.
TravelforFun
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by TravelforFun »

motorcyclesarecool wrote: Sat Apr 17, 2021 9:45 am The e*trade $25k tier seems pretty lucrative. Between my Roth and DW’s, we could earn $400 for transferring $50k. And we’d still be able to take advantage of other better six figure offers that may arise. No problem leaving $25k each with e*trade for a year. Is there something I’m not seeing here?
$400 for $50K transfer is excellent. I just got $2,500 for transferring $1 million to Fidelity which is equivalent to $125 for $50K.

TravelforFun
oliverb
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by oliverb »

hi travel for fun. is fidelity offering deposit bonuses again of $2500 for transferring $1 million? i was told several months ago by their rep that the bonus would be much much smaller. do you feel comfortable disclosing how you accomplished this. thanks
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

oliverb wrote: Sun Apr 18, 2021 10:10 am hi travel for fun. is fidelity offering deposit bonuses again of $2500 for transferring $1 million? i was told several months ago by their rep that the bonus would be much much smaller. do you feel comfortable disclosing how you accomplished this. thanks
A bud checked with Fidelity Rep -- they are now offering (and coding) account for up to $2500 per million net-new assets; 1-year holding period required.. This may be a private offer - not publicized much .. so, gotta have a word with your (any) rep ..
oliverb
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by oliverb »

very helpful. thanks for sharing!
ZinCO
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ZinCO »

Indeed. Perhaps as soon as I'm done with Merrill and E*Trade...
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

M1 finance:

For those who have transferred to them, can you please share your experience?

1) Was there any fees going in or moving out?
2) Is there a fee for buying Vanguard funds/etfs?
3) Do you have any concern regarding the SPIC insurance for only $500k. I am looking to transfer $1million.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

EnjoyIt wrote: Mon Apr 26, 2021 9:12 am M1 finance:

For those who have transferred to them, can you please share your experience?

1) Was there any fees going in or moving out?
2) Is there a fee for buying Vanguard funds/etfs?
3) Do you have any concern regarding the SPIC insurance for only $500k. I am looking to transfer $1million.
1) No fee going in, there is one moving out
2) No funds, but you can buy ETFs/stocks. No fee for ETFs, but they limit trading to 2 windows, with orders entered in advance (market orders only)
3) They say their clearing firm has more insurance. But yes, they should be clearer on this.

Their Customer Support seems overwhelmed, with long delays in callbacks
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

EnjoyIt wrote: Mon Apr 26, 2021 9:12 am M1 finance:

For those who have transferred to them, can you please share your experience?

1) Was there any fees going in or moving out?
2) Is there a fee for buying Vanguard funds/etfs?
3) Do you have any concern regarding the SPIC insurance for only $500k. I am looking to transfer $1million.
1) yes — approx $125’ish !? But when you move to new/different brokerage— you make a phone call to your new brokerage rep — 90% of that time they reimburse those pesky transfer-out fees ..
3) the funds are actually held at Apex clearing — which got longer/stable history. $500k SPIC limit - always quotes, but hardly never seen being put to use .. besides your round trip would be 3-4 months tops (lot less temporal risk that is)
2) have transferred Vanguard index ETFs (never tried mutual funds so dunno)., but sure to check what they allow for transfer-in ..

I never used M1 for trading — they trade based on portfolio model, and they only makes trades at set 9 Am or (2 ? Pm if you subscribe to their premium service) — so this should strongly dissuade you doing any trading let alone active-trading .. all I’ve done is transfer-in, wait 2-4 months, get bonus; then you decide what you want to do (definitely not trading :-)

Please read a few earlier posts (4-5 pages deep from latest) on M1 posted on this thread..

Their M1 bonus is the most-straight forward and on-time — amongst various bonuses mentioned on this thread ..
Re - customer service - hard to catch human Rep — but not impossible. Then again, which small brokerage has good customer service and significant bonus for under 3 months !?
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

sc9182 wrote: Fri Apr 23, 2021 8:24 am
oliverb wrote: Sun Apr 18, 2021 10:10 am hi travel for fun. is fidelity offering deposit bonuses again of $2500 for transferring $1 million? i was told several months ago by their rep that the bonus would be much much smaller. do you feel comfortable disclosing how you accomplished this. thanks
A bud checked with Fidelity Rep -- they are now offering (and coding) account for up to $2500 per million net-new assets; 1-year holding period required.. This may be a private offer - not publicized much .. so, gotta have a word with your (any) rep ..
My friend got the same offer. You have to talk to a rep and they need to ask higher up.
OkanePlease
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by OkanePlease »

I'm fairly new to the bonus game and am sharing a tidbit of advice/experience as well as seeking help with a question or two.

1. I opened a Merrill Edge account at $200,000 to get the $900 bonus. The initial representative told me I was all qualified after both my ME and BoA deposits, but I just noticed that I only got a $600 bonus. It turns out that I never officially enrolled in the Preferred Rewards program at BoA. A phone representative says I was indeed qualified and that he should be able to manually add $300. I offered feedback that the initial representative should have advised me that I needed to take enrollment action, so my advice here is to enroll upon getting email notification to do so. (That said, my wife never got email notification for the same situation.)

2. I'm currently looking at bonus options for deposit of $500,000 cash. When I called e*Trade yesterday to ask a couple of questions, the representative told me that a specialist would call me back and likely offer something better than the current BONUS21 promotion of $1,200 for $500,000. Is it worth awaiting this call-back? (Well, I can wait a few days, but just wondering if anyone else has gone through this same experience.)

3. I've skimmed the entirety of this helpful thread, paying special attention to posts from the past year or so. But if anyone has any new recommendations for my intended $500,000 deposit, feel free to share. As I maintain a small account at Schwab, I don't think I can do anything there, and I don't think I'm inclined to try M1 right now. I guess Ally Invest would be a comparable option.

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

Post by placeholder »

There's an etrade offer that might be what the rep is talking about which would be 1800 at that level:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500

It's not clear exactly if it's only ira or not.
OkanePlease
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by OkanePlease »

Thanks, placeholder. Looks like retirement account-only, but a good negotiating point if I get them on the phone.
placeholder wrote: Tue Apr 27, 2021 1:09 pm There's an etrade offer that might be what the rep is talking about which would be 1800 at that level:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500

It's not clear exactly if it's only ira or not.
av111
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by av111 »

Just called Merrill. Seems no promo is active at this time. Last promo expired on April 15
AV111
ZinCO
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ZinCO »

av111 wrote: Tue Apr 27, 2021 6:55 pm Just called Merrill. Seems no promo is active at this time. Last promo expired on April 15
Keep an eye on it. Since promos are reappearing at Schwab and Fidelity, you can expect them to return to Merrill as well.
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

student wrote: Mon Apr 26, 2021 9:41 am
sc9182 wrote: Fri Apr 23, 2021 8:24 am
oliverb wrote: Sun Apr 18, 2021 10:10 am hi travel for fun. is fidelity offering deposit bonuses again of $2500 for transferring $1 million? i was told several months ago by their rep that the bonus would be much much smaller. do you feel comfortable disclosing how you accomplished this. thanks
A bud checked with Fidelity Rep -- they are now offering (and coding) account for up to $2500 per million net-new assets; 1-year holding period required.. This may be a private offer - not publicized much .. so, gotta have a word with your (any) rep ..
My friend got the same offer. You have to talk to a rep and they need to ask higher up.
Is this a once in a lifetime offer ? My impression is that most larger Fido bonuses since 2018-19 have been once in a lifetime (unless you're bringing $5M+ over)
av111
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by av111 »

ZinCO wrote: Tue Apr 27, 2021 7:05 pm
av111 wrote: Tue Apr 27, 2021 6:55 pm Just called Merrill. Seems no promo is active at this time. Last promo expired on April 15
Keep an eye on it. Since promos are reappearing at Schwab and Fidelity, you can expect them to return to Merrill as well.
I plan to. However I can be tempted 😉
AV111
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

SlowMovingInvestor wrote: Tue Apr 27, 2021 7:28 pm
student wrote: Mon Apr 26, 2021 9:41 am
sc9182 wrote: Fri Apr 23, 2021 8:24 am
oliverb wrote: Sun Apr 18, 2021 10:10 am hi travel for fun. is fidelity offering deposit bonuses again of $2500 for transferring $1 million? i was told several months ago by their rep that the bonus would be much much smaller. do you feel comfortable disclosing how you accomplished this. thanks
A bud checked with Fidelity Rep -- they are now offering (and coding) account for up to $2500 per million net-new assets; 1-year holding period required.. This may be a private offer - not publicized much .. so, gotta have a word with your (any) rep ..
My friend got the same offer. You have to talk to a rep and they need to ask higher up.
Is this a once in a lifetime offer ? My impression is that most larger Fido bonuses since 2018-19 have been once in a lifetime (unless you're bringing $5M+ over)
I don't know. My friend does not play the bonus game and he just wanted to consolidate. Personally, I think such a limit on offer is good.
Nummerkins
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Nummerkins »

I just received my second $900 bonus from Merrill Edge and all of my accounts have been transferred back to Fidelity with ACAT fees reimbursed. Looking at etrade bonus next but I think they have a 1 year lockup period. Decisions decisions....
Today's high is tomorrow's low.
02nz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz »

av111 wrote: Tue Apr 27, 2021 6:55 pm Just called Merrill. Seems no promo is active at this time. Last promo expired on April 15
ZinCO wrote: Tue Apr 27, 2021 7:05 pm Keep an eye on it. Since promos are reappearing at Schwab and Fidelity, you can expect them to return to Merrill as well.
As I posted upthread (viewtopic.php?p=5887120#p5887120), I was told by two different ME reps that they've stopped giving bonuses for good. Never say never, but it sounds like they're not going to be doing more such promos any time soon.
ZinCO
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by ZinCO »

02nz wrote: Wed Apr 28, 2021 10:03 pm
av111 wrote: Tue Apr 27, 2021 6:55 pm Just called Merrill. Seems no promo is active at this time. Last promo expired on April 15
ZinCO wrote: Tue Apr 27, 2021 7:05 pm Keep an eye on it. Since promos are reappearing at Schwab and Fidelity, you can expect them to return to Merrill as well.
As I posted upthread (viewtopic.php?p=5887120#p5887120), I was told by two different ME reps that they've stopped giving bonuses for good. Never say never, but it sounds like they're not going to be doing more such promos any time soon.
When they made that decision the other big guys (E-Trade excepted) were not offering bonuses either, so it was an easy decision for them at the time. With Schwab and Fidelity offering them again, I predict ME will have to as well to compete.
02nz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz »

ZinCO wrote: Wed Apr 28, 2021 10:13 pm
02nz wrote: Wed Apr 28, 2021 10:03 pm
av111 wrote: Tue Apr 27, 2021 6:55 pm Just called Merrill. Seems no promo is active at this time. Last promo expired on April 15
ZinCO wrote: Tue Apr 27, 2021 7:05 pm Keep an eye on it. Since promos are reappearing at Schwab and Fidelity, you can expect them to return to Merrill as well.
As I posted upthread (viewtopic.php?p=5887120#p5887120), I was told by two different ME reps that they've stopped giving bonuses for good. Never say never, but it sounds like they're not going to be doing more such promos any time soon.
When they made that decision the other big guys (E-Trade excepted) were not offering bonuses either, so it was an easy decision for them at the time. With Schwab and Fidelity offering them again, I predict ME will have to as well to compete.
I understand that promotions come and go, but I was told in no uncertain terms it was a long-term decision. It's possible they were misinformed or misrepresented it, but otherwise we're not seeing ME promos any time soon.

One data point is that I was always able before this to get ME to do a custom offer for me, regardless of whether a public offer was available. That's no longer the case.
02nz
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Joined: Wed Feb 21, 2018 2:17 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz »

OkanePlease wrote: Tue Apr 27, 2021 12:05 pm I'm fairly new to the bonus game and am sharing a tidbit of advice/experience as well as seeking help with a question or two.

1. I opened a Merrill Edge account at $200,000 to get the $900 bonus. The initial representative told me I was all qualified after both my ME and BoA deposits, but I just noticed that I only got a $600 bonus. It turns out that I never officially enrolled in the Preferred Rewards program at BoA. A phone representative says I was indeed qualified and that he should be able to manually add $300. I offered feedback that the initial representative should have advised me that I needed to take enrollment action, so my advice here is to enroll upon getting email notification to do so. (That said, my wife never got email notification for the same situation.)

2. I'm currently looking at bonus options for deposit of $500,000 cash. When I called e*Trade yesterday to ask a couple of questions, the representative told me that a specialist would call me back and likely offer something better than the current BONUS21 promotion of $1,200 for $500,000. Is it worth awaiting this call-back? (Well, I can wait a few days, but just wondering if anyone else has gone through this same experience.)

3. I've skimmed the entirety of this helpful thread, paying special attention to posts from the past year or so. But if anyone has any new recommendations for my intended $500,000 deposit, feel free to share. As I maintain a small account at Schwab, I don't think I can do anything there, and I don't think I'm inclined to try M1 right now. I guess Ally Invest would be a comparable option.

Thanks!
They told me the same (that a rep would have a higher offer). The rep emailed me the offer, it's $1500 for $500K, can be a mix of retirement and taxable accounts.

I did an ETrade offer late last year and it seems there's no issue with doing another ETrade offer just months later. That suggests you might want do $250K now (my offer was for $1000) and another $250K later.

I will say that the experience - putting promo terms in writing, notifying me when the funding period was about to end, posting the bonus quickly and even notifying me in the app - was the best I've had with any brokerage thus far.
OkanePlease
Posts: 373
Joined: Tue Apr 21, 2015 12:05 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by OkanePlease »

Thanks for this, 02nz. How long did it take for you to hear back from them? They promised a call in 24-48 hours...and that was on Monday. Trying to be patient.
02nz wrote: Wed Apr 28, 2021 10:19 pm
OkanePlease wrote: Tue Apr 27, 2021 12:05 pm I'm fairly new to the bonus game and am sharing a tidbit of advice/experience as well as seeking help with a question or two.

1. I opened a Merrill Edge account at $200,000 to get the $900 bonus. The initial representative told me I was all qualified after both my ME and BoA deposits, but I just noticed that I only got a $600 bonus. It turns out that I never officially enrolled in the Preferred Rewards program at BoA. A phone representative says I was indeed qualified and that he should be able to manually add $300. I offered feedback that the initial representative should have advised me that I needed to take enrollment action, so my advice here is to enroll upon getting email notification to do so. (That said, my wife never got email notification for the same situation.)

2. I'm currently looking at bonus options for deposit of $500,000 cash. When I called e*Trade yesterday to ask a couple of questions, the representative told me that a specialist would call me back and likely offer something better than the current BONUS21 promotion of $1,200 for $500,000. Is it worth awaiting this call-back? (Well, I can wait a few days, but just wondering if anyone else has gone through this same experience.)

3. I've skimmed the entirety of this helpful thread, paying special attention to posts from the past year or so. But if anyone has any new recommendations for my intended $500,000 deposit, feel free to share. As I maintain a small account at Schwab, I don't think I can do anything there, and I don't think I'm inclined to try M1 right now. I guess Ally Invest would be a comparable option.

Thanks!
They told me the same (that a rep would have a higher offer). The rep emailed me the offer, it's $1500 for $500K, can be a mix of retirement and taxable accounts.

I did an ETrade offer late last year and it seems there's no issue with doing another ETrade offer just months later. That suggests you might want do $250K now (my offer was for $1000) and another $250K later.

I will say that the experience - putting promo terms in writing, notifying me when the funding period was about to end, posting the bonus quickly and even notifying me in the app - was the best I've had with any brokerage thus far.
02nz
Posts: 10476
Joined: Wed Feb 21, 2018 2:17 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz »

OkanePlease wrote: Wed Apr 28, 2021 10:49 pm Thanks for this, 02nz. How long did it take for you to hear back from them? They promised a call in 24-48 hours...and that was on Monday. Trying to be patient.
Just a few days, as I recall.
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

sc9182 wrote: Fri Jan 01, 2021 11:42 am Happy New Year:

M1Finance bonus - 60 days retention (prolly add 2 additional weeks for account credit)

Wouldn’t recommend lower tier than $625 credit due to higher than usual transfer fees and oddball trading platform (M1 may not be well suited for individual stock purchases and traders ..; transfer-in, hold for 60+ days, don’t trade, get bonus, and move out — unless you love it)

Account-value PromotionalCredit
$10,000 – $19,999.99 $50
$20,000 – $49,999.99 $100
$50,000 – $99,999.99 $200
$100,000 – $249,999.99 $300 + exclusive M1 swag
$250,000 – $499,999.99 $625 + exclusive M1 swag
$500,000 – $999,999.99 $1,250 + exclusive M1 swag
$1,000,000 – $1,999.999.99 $3,125 + exclusive M1 swag
$2,000,000 + $4,375 + exclusive M1 swag

https://www.m1finance.com/earn-up-to-43 ... 35&jb=7698
Kudos to M1Finance -- they not only delivered their $3125 bonus as of today, also received their swag via FedEx (nice pocketbook/diary, and Asobu Stainless Steel and Ceramic Ultimate Insulated Mug).

May have done 3 bonuses with M1 all successfully in last 12 months - between one brokerage-account and 2 IRA accounts.. Sweet !!

Don't forget their current Bonus promotion for 3 months holding period:
https://www.m1finance.com/transfer4000/

Code: Select all

Account-value           Promotional-Credit                         
...
$250,000 – $499,999  	$500
$500,000 – $999,999   	$1000
$1,000,000 – $1,999,999	$2,500
$2,000,000 +	        $4000
Wouldn't necessarily recommend Bonus opportunity for levels below $250K ($500 bonus) due to their $100 or so Transfer-out fees ..(if you are good at it - the new brokerage usually reimburses these fees when you move out to that new brokerage .. )

Amazing interest from M1Finance compared to any other brokerage - for awarding and even more importantly DELIVERING Bonuses timely, especially with their minimal holding period requirement -- Loving M1 (and their Mug & Swag too!)
Leesbro63
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Joined: Mon Nov 08, 2010 3:36 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

I wouldn’t feel safe putting more than the SPIC insured amount in M1. The recent Robinhood episode confirms that for me.
sc9182
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Joined: Wed Aug 17, 2016 7:43 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

Leesbro63 wrote: Sat May 01, 2021 1:13 pm I wouldn’t feel safe putting more than the SPIC insured amount in M1. The recent Robinhood episode confirms that for me.
Its quite alright if you are not comfortable for any other reason - SIPC limit(s) should NOT be the one of those.
M1Finance keeps accounts/investments at custodian Apex Clearing. No, APEX is neither Fidelity nor Vanguard levels. But, for medium/small-level brokerages (if I were to guess - Firstrade Securities Inc, and SoFi etc) Apex been doing this for some time., reasonably well.


Per, https://www.m1finance.com/articles-1/sipc/ :
Since we (M1) are a member of the SIPC, securities in accounts are protected up to $500,000. M1 Finance’s clearing firm (Apex Clearing) has also purchased supplemental insurance to protect our customers in the event that the SIPC limits are exhausted.

If someone worried about $500K SIPC limits, may be slightly, ought to be worried about other brokerages too.
SlowMovingInvestor
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Joined: Sun Sep 11, 2016 11:27 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

Leesbro63 wrote: Sat May 01, 2021 1:13 pm I wouldn’t feel safe putting more than the SPIC insured amount in M1. The recent Robinhood episode confirms that for me.
What RH episode ? I don't have an account in RH, but I believe they have insurance up to $1.5M. I question their business practices such as selling order flow, video game-izing options, but I wouldn't be concerned about failure leading to loss of my investments.

Since this thread is about bonuses, I will add that I did open an M1 account for the bonus. One extra benefit is the M1 Spend FDIC account, which gives a 1% rate -- well above current HYSA rates.

I don't trade much, but I do admit the lack of control over how much an order will execute for at M1 would concern me if I were to stay with them long term.
02nz
Posts: 10476
Joined: Wed Feb 21, 2018 2:17 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by 02nz »

The E*Trade offer that I received from the rep links to this: https://us.etrade.com/promo/disclaimer/2500cfc-combined

I imagine that anyone should be able to call and get this offer, which is quite a bit better than the BONUS21 public offer (https://us.etrade.com/what-we-offer/how-it-works/promo).
Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

SlowMovingInvestor wrote: Sat May 01, 2021 2:16 pm
Leesbro63 wrote: Sat May 01, 2021 1:13 pm I wouldn’t feel safe putting more than the SPIC insured amount in M1. The recent Robinhood episode confirms that for me.
What RH episode ? I don't have an account in RH, but I believe they have insurance up to $1.5M. I question their business practices such as selling order flow, video game-izing options, but I wouldn't be concerned about failure leading to loss of my investments.

Since this thread is about bonuses, I will add that I did open an M1 account for the bonus. One extra benefit is the M1 Spend FDIC account, which gives a 1% rate -- well above current HYSA rates.

I don't trade much, but I do admit the lack of control over how much an order will execute for at M1 would concern me if I were to stay with them long term.
Insurance up to $1.5M, but what is the aggregate "cap" for claims on all accounts? I admit that no one lost money, to my knowledge, at Robinhood because of any failure. I'm just saying that their inability to handle whatever happened would concern me if I had more than the SPIC limit there.
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

Leesbro63 wrote: Mon May 03, 2021 9:36 am
SlowMovingInvestor wrote: Sat May 01, 2021 2:16 pm
Leesbro63 wrote: Sat May 01, 2021 1:13 pm I wouldn’t feel safe putting more than the SPIC insured amount in M1. The recent Robinhood episode confirms that for me.
What RH episode ? I don't have an account in RH, but I believe they have insurance up to $1.5M. I question their business practices such as selling order flow, video game-izing options, but I wouldn't be concerned about failure leading to loss of my investments.
Insurance up to $1.5M, but what is the aggregate "cap" for claims on all accounts? I admit that no one lost money, to my knowledge, at Robinhood because of any failure. I'm just saying that their inability to handle whatever happened would concern me if I had more than the SPIC limit there.
I'm guessing cap is around $2B, which is the same as Fido, MS/Etrade etc. But yes, it's much safer to be at Fido or MS than RH in the event of a massive failure.
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