Such a honest Petty-Bilker !spammagnet wrote: ↑Wed Feb 09, 2022 8:35 amThe E-Trade rep just called after being notified that I transferred everything back to Fidelity. He hinted broadly at offering more bonuses. I declined. My interest in bilking investment banks out of bonus money may be renewed in the future but for now, I'm done.spammagnet wrote: ↑Tue Feb 08, 2022 3:24 pmI appreciate knowing that but I'm tiring of the bonus game. We'll transfer some to Merrill Edge to qualify for their current bonus and to maintain our PH status, and leave it there. Other than that, the rest is going back to Fidelity.
Other than Fidelity, we each have an IRA at Merrill to maintain PH status. We also have two new small accounts at TastyWorks, opened a couple of weeks ago. Those, too, will be closed after the 90 day requirement.
While at it develop good relationship with brokerage reps - lest, they might do good relationship based margin at 1% ish on your brokerage amounts - which could help pay off that pesky car loan at 4% or HELOC balance at 3.99% ..
As much as we all hate to jump around a bit - your large “account” balances could help Reps at other brokerages too - while you share your love transferring accounts to them - do allow them to reward some Bonus to you in-return
Don’t churn just for the sake - but do build good relationships (and don’t forget to get Bonus rewarded along the way) - while at it.
Not one time ever - Fidelity offered us much of any discount on Margin — until, we jumped out - then, wanted to bring back the monies - we could negotiate not only some bonus., but also, margin at 1.24% rate (btw - we hardly use margin., but good to have it handy in limited circumstances). Now our Fidelity new rep values our relationship lot more.
Have you ever gotten deserved 20-30% raise or two without switching jobs !? Did you always have great bosses