The Final, Definitive Thread on Brokerage Transfer Bonuses

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spammagnet
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How often can I churn the Merrill Edge award?

Post by spammagnet »

I'm going to lose PH status because I transferred most of my ME IRA balance elsewhere for a different bonus, and can't transfer it back in time to keep PH. No matter, since P2 has PH status, will keep it, and has enough room on CCR/SGK cards to handle the cash flow that's eligible for the PH boost on rewards.

Because it's easy to open new ME accounts I may close my existing one to reduce the clutter of accounts we have open, since I don't need PH status on my credit cards and can't hold it in the short term, anyway.. If I can churn it soon, I'll keep it open but, if I have to wait awhile, I'll close it.

I know Merrill allows churning their new money bonuses and know they reduce deposits by whatever has been withdrawn in the past 24 weeks. I can't find a definitive answer about how often you can get the bonus, though. Can someone help with that information, or a link?
datascientistdude
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by datascientistdude »

hmw wrote: Thu May 11, 2023 11:19 am
datascientistdude wrote: Mon May 08, 2023 3:27 am
slinky$ wrote: Sat May 06, 2023 10:58 am
They have a $2000 for $250k tier which is interesting and it includes an investment account but I'm not entirely clear if it can be self directed and no fee.
No, the accounts to qualify for the 2k bonus cannot be self-directed investment accounts. They have to be managed by JP Morgan. However, the self-directed accounts can be used to count toward the 150k monthly minimum to waive the monthly fee.
I did this chase private client bonus a couple of years ago. Got 2k for $250k transferred. There is a no fee self direct account under the JP Morgan name.
The terms of the offer clearly state that JP Morgan self-directed accounts are ineligible for holding the money to qualify for the bonus. It has to be a managed account.
datascientistdude
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Re: How often can I churn the Merrill Edge award?

Post by datascientistdude »

spammagnet wrote: Sat May 13, 2023 9:51 am I can't find a definitive answer about how often you can get the bonus, though. Can someone help with that information, or a link?
When I asked about this last time, the ME rep told me that you can only get this bonus once per year. Unclear how the year is calculated though, whether it's per calendar year or 1 year since you last got the bonus.
spammagnet
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Re: How often can I churn the Merrill Edge award?

Post by spammagnet »

datascientistdude wrote: Sun May 14, 2023 3:41 am
spammagnet wrote: Sat May 13, 2023 9:51 amI can't find a definitive answer about how often you can get the bonus, though. Can someone help with that information, or a link?
When I asked about this last time, the ME rep told me that you can only get this bonus once per year. Unclear how the year is calculated though, whether it's per calendar year or 1 year since you last got the bonus.
Thanks
Startled Cat
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Startled Cat »

Pow wrote: Fri May 05, 2023 9:42 pm
RMO87 wrote: Fri May 05, 2023 2:33 pm It appears the higher E-Trade bonus is only for current customers, enticing them to add to their accounts.
Are you talking about REWARD23 E-Trade promotion? It is for both new and existing customers. And for both it requires a new account.

Edit: nvm, found this other offer https://us.etrade.com/promo/6000cfc-com ... 01&em=6021
I'm interested in this promo but don't have an E-Trade account yet. Has anyone tried opening an account and then applying the promo before transferring securities in?

Alternatively, would requesting a match from another brokerage make more sense? Someone mentioned successfully getting Schwab to match.
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

datascientistdude wrote: Sun May 14, 2023 3:40 am
hmw wrote: Thu May 11, 2023 11:19 am
datascientistdude wrote: Mon May 08, 2023 3:27 am
slinky$ wrote: Sat May 06, 2023 10:58 am
They have a $2000 for $250k tier which is interesting and it includes an investment account but I'm not entirely clear if it can be self directed and no fee.
No, the accounts to qualify for the 2k bonus cannot be self-directed investment accounts. They have to be managed by JP Morgan. However, the self-directed accounts can be used to count toward the 150k monthly minimum to waive the monthly fee.
I did this chase private client bonus a couple of years ago. Got 2k for $250k transferred. There is a no fee self direct account under the JP Morgan name.
The terms of the offer clearly state that JP Morgan self-directed accounts are ineligible for holding the money to qualify for the bonus. It has to be a managed account.
The terms must have changed from a few years ago.
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

datascientistdude wrote: Sun May 14, 2023 3:40 am
hmw wrote: Thu May 11, 2023 11:19 am
datascientistdude wrote: Mon May 08, 2023 3:27 am
slinky$ wrote: Sat May 06, 2023 10:58 am
They have a $2000 for $250k tier which is interesting and it includes an investment account but I'm not entirely clear if it can be self directed and no fee.
No, the accounts to qualify for the 2k bonus cannot be self-directed investment accounts. They have to be managed by JP Morgan. However, the self-directed accounts can be used to count toward the 150k monthly minimum to waive the monthly fee.
I did this chase private client bonus a couple of years ago. Got 2k for $250k transferred. There is a no fee self direct account under the JP Morgan name.
The terms of the offer clearly state that JP Morgan self-directed accounts are ineligible for holding the money to qualify for the bonus. It has to be a managed account.
According to the comment section of the doctorofcredit, the no fee JP morgan acccount (which is what I have) opend by the advisor is eligible for this promotion. The self directed You Invest is not.

https://www.doctorofcredit.com/chase-12 ... te-client/
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

Startled Cat wrote: Sun May 14, 2023 9:02 am
Pow wrote: Fri May 05, 2023 9:42 pm
RMO87 wrote: Fri May 05, 2023 2:33 pm It appears the higher E-Trade bonus is only for current customers, enticing them to add to their accounts.
Are you talking about REWARD23 E-Trade promotion? It is for both new and existing customers. And for both it requires a new account.

Edit: nvm, found this other offer https://us.etrade.com/promo/6000cfc-com ... 01&em=6021
I'm interested in this promo but don't have an E-Trade account yet. Has anyone tried opening an account and then applying the promo before transferring securities in?
I would take the path of least surprise: go to the 6000cfc promo page, and click on the "Enroll now" button. Trying something else would be tempting fate. Any reason you would not just click on the "Enroll now" button to open the account?
Startled Cat wrote: Sun May 14, 2023 9:02 am Alternatively, would requesting a match from another brokerage make more sense? Someone mentioned successfully getting Schwab to match.
Do you have a strong preference for one brokerage or another, like you intend to stick with that brokerage once you transfer assets?

If you do prefer Schwab for whatever reason, first apply for the E-Trade account and you'll receive an email saying you're enrolled. Such an email is (was) helpful getting Schwab to match an offer. If Schwab declines, so be it -- your only cost is 10 or 15 minutes of time. Then you'd transfer the assets.

If you happen to have enough assets, you could actually enroll in both. Say you had $400,000. The E-Trade offer gives you $1000 for between $200,000 and $499,999. Split the $400,000 on both promos and you'd get $2,000. If you go with just one promo, it's only $1,000.
Startled Cat
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Startled Cat »

sycamore wrote: Sun May 14, 2023 4:17 pm
Startled Cat wrote: Sun May 14, 2023 9:02 am I'm interested in this promo but don't have an E-Trade account yet. Has anyone tried opening an account and then applying the promo before transferring securities in?
I would take the path of least surprise: go to the 6000cfc promo page, and click on the "Enroll now" button. Trying something else would be tempting fate. Any reason you would not just click on the "Enroll now" button to open the account?
The 6000cfc promo appears to be for existing customers only.
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UncleLeo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by UncleLeo »

Startled Cat wrote: Sun May 14, 2023 4:43 pm
sycamore wrote: Sun May 14, 2023 4:17 pm
Startled Cat wrote: Sun May 14, 2023 9:02 am I'm interested in this promo but don't have an E-Trade account yet. Has anyone tried opening an account and then applying the promo before transferring securities in?
I would take the path of least surprise: go to the 6000cfc promo page, and click on the "Enroll now" button. Trying something else would be tempting fate. Any reason you would not just click on the "Enroll now" button to open the account?
The 6000cfc promo appears to be for existing customers only.
If I only have an employer stock plan account with them (which also comes with an Individual Brokerage account that is linked to the stock plan account), am I considered an existing customer?
Also, would transferring IRA/rothIRA accounts to Etrade count?
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

Startled Cat wrote: Sun May 14, 2023 4:43 pm
sycamore wrote: Sun May 14, 2023 4:17 pm
Startled Cat wrote: Sun May 14, 2023 9:02 am I'm interested in this promo but don't have an E-Trade account yet. Has anyone tried opening an account and then applying the promo before transferring securities in?
I would take the path of least surprise: go to the 6000cfc promo page, and click on the "Enroll now" button. Trying something else would be tempting fate. Any reason you would not just click on the "Enroll now" button to open the account?
The 6000cfc promo appears to be for existing customers only.
Ah okay. I haven't done exactly that. But I would just open an account (without a promo) to establish yourself as an existing customet, wait a day, then try the 6000cfc promo. Check the terms and conditions listed at https://us.etrade.com/promo/6000cfc-com ... 01&em=6021 to see if it says anything to define "existing customer".

Good luck!
Last edited by sycamore on Mon May 15, 2023 8:44 am, edited 2 times in total.
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

UncleLeo wrote: Mon May 15, 2023 4:30 am ...
If I only have an employer stock plan account with them (which also comes with an Individual Brokerage account that is linked to the stock plan account), am I considered an existing customer?
Also, would transferring IRA/rothIRA accounts to Etrade count?
I don't know if an ESOP counts or not.

The terms and conditions at https://us.etrade.com/promo/6000cfc-com ... 01&em=6021 say that Trad and Roth accounts are eligible.
buzzz_buzzz_buzzz
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by buzzz_buzzz_buzzz »

TomatoTomahto wrote: Sat May 06, 2023 1:43 pm I assume that this thread also covers retention bonuses.

Almost a year ago, we transferred a mixture of taxable and tax deferred accounts from Vanguard to Schwab and were rewarded with $8500 in bonuses. Since then, we have added assets mostly to taxable and will in a few months get another lump sum to invest.

Has anyone figured out how to get a retention bonus? I spoke to Schwab and they said to call back when the year was up, as they could not do more than one bonus per year. I’m open to doing that, but wondered if anyone knew how best to approach them.
That's an impressive amount of bonuses. Do you mind if I ask if these were publicly available bonuses or did you negotiate with them?


On a different note, I was sad to learn today that my wife is not eligible for a Schwab promotional bonus because she has an unfunded TD account number. About a year ago I transferred funds from to Schwab as a TD customer and received the bonus, so I'm not sure when they finally started treating the two as one.
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TomatoTomahto
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by TomatoTomahto »

buzzz_buzzz_buzzz wrote: Wed May 17, 2023 12:37 pm
TomatoTomahto wrote: Sat May 06, 2023 1:43 pm I assume that this thread also covers retention bonuses.

Almost a year ago, we transferred a mixture of taxable and tax deferred accounts from Vanguard to Schwab and were rewarded with $8500 in bonuses. Since then, we have added assets mostly to taxable and will in a few months get another lump sum to invest.

Has anyone figured out how to get a retention bonus? I spoke to Schwab and they said to call back when the year was up, as they could not do more than one bonus per year. I’m open to doing that, but wondered if anyone knew how best to approach them.
That's an impressive amount of bonuses. Do you mind if I ask if these were publicly available bonuses or did you negotiate with them?
At the time, E-Trade had a generous bonus scheme and Schwab had an outstanding publicly available offer to match. So, I printed out the E-Trade bonus and in discussions with Schwab they agreed to let me use the combined total of my accounts to qualify (my wife's single account qualified). So, we were eligible for $7,000 in bonuses. I noticed three additional $500 deposits into the accounts; I asked about it and they told me that someone had noticed that we were also eligible for those benefits. I didn't ask any more questions :D
I get the FI part but not the RE part of FIRE.
BashDash
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BashDash »

Not a brokerage bonus but Key Bank is offering 100$$ cash every year for a checking account. I do all my transfers bill pay etc from there so I just changed to this type of account. All same account numbers password etcso no hassle.
BuddyJet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BuddyJet »

TomatoTomahto wrote: Wed May 17, 2023 12:52 pm
buzzz_buzzz_buzzz wrote: Wed May 17, 2023 12:37 pm
TomatoTomahto wrote: Sat May 06, 2023 1:43 pm I assume that this thread also covers retention bonuses.

Almost a year ago, we transferred a mixture of taxable and tax deferred accounts from Vanguard to Schwab and were rewarded with $8500 in bonuses. Since then, we have added assets mostly to taxable and will in a few months get another lump sum to invest.

Has anyone figured out how to get a retention bonus? I spoke to Schwab and they said to call back when the year was up, as they could not do more than one bonus per year. I’m open to doing that, but wondered if anyone knew how best to approach them.
That's an impressive amount of bonuses. Do you mind if I ask if these were publicly available bonuses or did you negotiate with them?
At the time, E-Trade had a generous bonus scheme and Schwab had an outstanding publicly available offer to match. So, I printed out the E-Trade bonus and in discussions with Schwab they agreed to let me use the combined total of my accounts to qualify (my wife's single account qualified). So, we were eligible for $7,000 in bonuses. I noticed three additional $500 deposits into the accounts; I asked about it and they told me that someone had noticed that we were also eligible for those benefits. I didn't ask any more questions :D
To get the schwab bonus, I followed what someone else suggested and registered for the bonus at the competitor, got the confirmation. And emailed schwab the confirm with a note saying before I make the transfer. Will svjwab match. Got a quick yes and then got both bonuses
Last edited by BuddyJet on Wed May 17, 2023 6:54 pm, edited 2 times in total.
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Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

BashDash wrote: Wed May 17, 2023 3:58 pm Not a brokerage bonus but Key Bank is offering 100$$ cash every year for a checking account. I do all my transfers bill pay etc from there so I just changed to this type of account. All same account numbers password etcso no hassle.
Do you mean a mere $100?
BashDash
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BashDash »

Yes. I already have an account and it took a five minute chat to change to this type. I figured it's a yearly retention bonus I wasn't getting.
marathonfi
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by marathonfi »

nalor511 wrote: Fri May 12, 2023 1:12 pm
marathonfi wrote: Thu May 11, 2023 7:05 am
marathonfi wrote: Fri Apr 28, 2023 11:38 am I got $1000 from Etrade a few months ago. My funds arrived around 12/5/2022, and I made a mistake calculating the 180 day, thinking after 5/5/2023 I would be good instead of 6/5/2023. Anyway, I'm going to risk losing the $1000 to go after Wells Fargo's $2500(I opened it at the end of March) and it has since been extended (ugh!).

What are the chances of E-trade clawing back?
Update: I transferred out partially, and for some reason didn't even get charged $25. The $1000 is safe also :sharebeer
Just curious how you determined that your $1000 is "safe"? Couldn't they just claw it back next month?
I have like $29 in that account, though I do have $100K+ in a separate account, but I imagine they would only try to take from the account with $29. I suppose it would go negative also, but I think chances are slim. :D
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Took advantage of this PNC offer.

https://www.doctorofcredit.com/pnc-up-t ... ing-bonus/

Met all the qualifications now waiting on the $400 bonus. Question for anyone who is taken advantage of this:
1) Do the direct deposits need to sit at PNC until I get the bonus, or can those be transferred out immediately before the bonus posts?
2) Does PNC only need to record and have proof of direct deposits so they could be transferred out?
Last edited by bbrock on Thu May 25, 2023 8:32 pm, edited 1 time in total.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

erp wrote: Thu Apr 20, 2023 5:11 pm
bbrock wrote: Thu Apr 20, 2023 4:41 pm s/w support rep via phone at Tastytrade. Very impressed I was able to speak with someone and he was extremely knowledgeable on the transfer process. Long story short, even filling out the ACAT from Tasty's side it is not guaranteed that the lot I want transferred will be the one that is transferred.

Also, I asked if they will refund transfer fees from other brokerages and he confirmed they would as long as a statement or proof is submitted.

Called E*Trade and transferred over the specific lot I had in mind. It now shows in that new brokerage acct. (nod to Geraniumlover for that tip :sharebeer ) at E*Trade. And, I am under way in trying to ACAT this acct. to Tasty. They won't ACAT fractional shares the rep stated, so those will be liquidated.
I don't quite understand the last 30 or so posts back and forth. I would actually prefer the non-covered shares to be transferred since then there is no cost basis to get lost/messed up.

Does Etrade charge for partial account transfers? Why do you have to close the new account? Instead you could just transfer the shares of VTI that you want to keep to the new account and ask to transfer all VTI from the old account. Mainly this is because I'd be a little wary about transferring and closing a brand new account. For one, I think there are now 2 chances of losing the basis - so at least wait till you think the new account shares are all synced up, eg by waiting 1 week or 1 statement cycle.

Finally, cost basis accounting is different from lot selection, and cost basis accounting must always be by lot with ETFs & stocks - average cost basis is not allowed. The FIFO/LIFO selection is just a trade time thing - the shares will not become permanently "locked" into one of those.
Just circling back on the saga I have had transferring cost basis for the separate E*Trade account I created merely to serve as an account to then transfer to TastyTrade (hereafter TT).

E*Trade has messed up many times on the lot I wanted transferred into the new separate account I created. They did it once, tried to undo there error and correct to what I wanted, only to incorrectly create a new error of transferred lots. Originally I only wanted one lot of covered shares, but they kept transferring lots using a mix of FIFO and LIFO.

Where things stand are that Apex has the cost basis for the incorrect lots I wanted transferred, but they all equal up to the amount of lots I did want transferred (816). While I only wanted 1 lot of 816 covered shares to be transferred, E*Trade transferred to TT/Apex 14 lots of non-covered shares. I am willingly to accept this error b/c I want this to be done and I have accounted for the 14 lots on my spreadsheet as now transferred to TT/Apex. Fortunately, I took screenshots of my main E*Trade account and separate E*Trade account before lots transferred to TT. And, even though these screenshots showed the separate E*Trade account had 14 lots that were to transfer to Apex, I was going to accept it. Then, when Apex got the cost basis, I took a screenshot of that. That matched the 14 lots that transferred from my separate E*Trade account. Ok, great, things not how I wanted but I would accept it, but wait, things get worse.

Recently, I check my main E*Trade account and see they have changed the remaining lots on my main account. It doesn't match the screenshot I took previously as many of those 14 lots are showing back up again. I called E*Trade and it is being investigated. They are insisting they will get it right this time and go back to what I originally wanted and transfer the 1 lot of 816 covered shares to TT. I gave them the screenshots I took demonstrating the 14 lots which were in the separate account, the 14 lots in TT/Apex, and the lots which were remaining in the main account. I told them even though this was not what I wanted just put things back to exactly as shown in these screenshots.

At this point I am thinking it is better that TT/Apex has these 14 lots of non-covered shares vs. 1 lot of covered shares. With non-covered, the responsibility always falls on me to maintain the cost basis which is fine since I have it on a spreadsheet, but with covered it needs to be correct from institution to institution. Given this drama, would you have E*Trade and/or TT/Apex rectify things and transfer a covered lot, or keep it as the non-covered at TT/Apex?

I have definitely had to work more for this TT bonus than I anticipated :D
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erp
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by erp »

bbrock wrote: Fri May 26, 2023 11:36 am At this point I am thinking it is better that TT/Apex has these 14 lots of non-covered shares vs. 1 lot of covered shares. With non-covered, the responsibility always falls on me to maintain the cost basis which is fine since I have it on a spreadsheet, but with covered it needs to be correct from institution to institution. Given this drama, would you have E*Trade and/or TT/Apex rectify things and transfer a covered lot, or keep it as the non-covered at TT/Apex?
I agree with this. Someone complained about either Tasty or Public not copying over their basis correctly (and even repeatedly undoing it each time he got them to fix it), so having non-covered shares there seems best.

Then the split account idea wouldn't have been necessary, since the xfer of partial shares should be FIFO. But if you still wanted to split the lots to be sure of which lots got ACATed, pulling from the old account just seems safer (ie move the lots you want to keep to the new account). That's just because there seem to be a lot of nightmare stories by people who opened accounts and then immediately tried to pull/withdraw from them.

Maybe neither problem is exactly the one you got hit with (ie it was on etrade's internal transfer this time), but you should continue to monitor the basis in both accounts. If etrade decides to update things and push the new basis to Apex again, who knows how messed up things might get!
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

erp wrote: Fri May 26, 2023 7:03 pm
bbrock wrote: Fri May 26, 2023 11:36 am At this point I am thinking it is better that TT/Apex has these 14 lots of non-covered shares vs. 1 lot of covered shares. With non-covered, the responsibility always falls on me to maintain the cost basis which is fine since I have it on a spreadsheet, but with covered it needs to be correct from institution to institution. Given this drama, would you have E*Trade and/or TT/Apex rectify things and transfer a covered lot, or keep it as the non-covered at TT/Apex?
I agree with this. Someone complained about either Tasty or Public not copying over their basis correctly (and even repeatedly undoing it each time he got them to fix it), so having non-covered shares there seems best.

Then the split account idea wouldn't have been necessary, since the xfer of partial shares should be FIFO. But if you still wanted to split the lots to be sure of which lots got ACATed, pulling from the old account just seems safer (ie move the lots you want to keep to the new account). That's just because there seem to be a lot of nightmare stories by people who opened accounts and then immediately tried to pull/withdraw from them.

Maybe neither problem is exactly the one you got hit with (ie it was on etrade's internal transfer this time), but you should continue to monitor the basis in both accounts. If etrade decides to update things and push the new basis to Apex again, who knows how messed up things might get!
Tx erp for the response.

I ended up telling the rep at E*Trade yesterday. I’ll give you guys one more chance to correct things to that one lot. Perhaps I shouldn’t of and stuck with the non-covered.

I didn’t think about all the stories in here of people having a hard time getting covered shares properly tracked from institution to institution. I guess my assumption was that how can they mess up on covered shares going from one firm to the next. It’s not rocket science for the firms to input the same data. But clearly Bogleheads have found this to be a problem.

Oh this $2000 tasty trade bonus is working me. LOL!
bbrock
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

M1Finance assuming “clearing house” function of its accounts (taking over from Apex-Cleaning - around July 7th .. opt-out option available ..

Anyone considering moving out of M1 ? If so, (how) have you requested to expedite "yet/un-accrued" un-deposited bonus into account prior to moving/opting out ..

Clearing broker account conversion
Hi Customer,
We are pleased to share that M1 Finance LLC ("M1"), a FINRA/SIPC member broker dealer, has developed the ability to support your account as both a carrying and clearing firm. In addition to the functions M1 performs today, including providing you with the ability to create, manage, and automate your portfolio, we believe that this transition will improve your overall experience and enhance our ability to meet your investment needs.

M1's role as your clearing agent
M1 will perform certain centralized cashiering, bookkeeping, and trading functions for your individual and joint brokerage accounts. In addition, M1 will handle the delivery and receipt of securities purchased or sold by clients, receive and distribute dividends and other distributions, and process exchange offers, tender offers, and redemptions. This includes the extension of credit in your margin account. M1 will extend credit for the purchase or sale of securities in margin accounts with the same terms as the margin agreement between you and Apex Clearing Corporation.

Timing of conversion
Over the next several months, M1 will begin moving the custody of your M1 brokerage account from Apex Clearing Corporation ("Apex") to M1 as clearing agent (the "conversion"). The first migration will occur on or about, but not sooner than July 7, 2023. Due to the transitioning of accounts over several phases, you will receive another communication from M1 with additional details approximately 7 days before the conversion of your account. Your account assets are, and following the conversion will continue to be, protected by the Securities Investor Protection Corporation ("SIPC") up to $500,000.

The conversion process
M1 will manage the conversion on your behalf, at no cost to you. You do not need to take any action with your account. Pie allocations will not change, but, behind the scenes, securities and cash will be transferred from Apex Clearing to M1 Financial LLC following the account conversion. Beginning on the date of the conversion, any recurring or one-time transfers and other account instructions will also be directed to M1. You do not need to make any changes to your linked banking instructions. We will handle this change as part of the conversion.

To reiterate, there is no action you need to take to complete this conversion and there will be no cost to you for the transfer of your account from Apex to M1.

You have the right to object to the transfer. If you do not wish to have your account transferred to M1, you should promptly make arrangements to have the cash and securities in your account transferred to another firm of your choosing. Please contact help@m1.com with the subject line "Opt-out of clearing broker account conversion" to transfer your holdings within 30 days from the date of this letter. All transfer fees will be waived before this date
earlyretire
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by earlyretire »

I just did an ETRADE transfer bonus. Are you able to withdraw any monies before the 12 month hold? Let’s say I bring in $1.2m for the $4,500 tier and want to withdraw $100k but it still leaves me in the same tier, is that acceptable?
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

earlyretire wrote: Sun May 28, 2023 9:42 am I just did an ETRADE transfer bonus. Are you able to withdraw any monies before the 12 month hold? Let’s say I bring in $1.2m for the $4,500 tier and want to withdraw $100k but it still leaves me in the same tier, is that acceptable?
Yes. I transferred in >$1.3m, and recently transferred $180k to TT. It wasn’t a problem as long as $1m remained.
bbrock
EdNorton
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EdNorton »

hmw wrote: Sun May 14, 2023 9:46 am
datascientistdude wrote: Sun May 14, 2023 3:40 am
hmw wrote: Thu May 11, 2023 11:19 am
datascientistdude wrote: Mon May 08, 2023 3:27 am
slinky$ wrote: Sat May 06, 2023 10:58 am
They have a $2000 for $250k tier which is interesting and it includes an investment account but I'm not entirely clear if it can be self directed and no fee.
No, the accounts to qualify for the 2k bonus cannot be self-directed investment accounts. They have to be managed by JP Morgan. However, the self-directed accounts can be used to count toward the 150k monthly minimum to waive the monthly fee.
I did this chase private client bonus a couple of years ago. Got 2k for $250k transferred. There is a no fee self direct account under the JP Morgan name.
The terms of the offer clearly state that JP Morgan self-directed accounts are ineligible for holding the money to qualify for the bonus. It has to be a managed account.
According to the comment section of the doctorofcredit, the no fee JP morgan acccount (which is what I have) opend by the advisor is eligible for this promotion. The self directed You Invest is not.

https://www.doctorofcredit.com/chase-12 ... te-client/
Agree, that must be what I got. I was told their were no fees and there were not. I got the $2000 bonus for transferring $250k.
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bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

sc9182 wrote: Sat May 27, 2023 5:04 pm M1Finance assuming “clearing house” function of its accounts (taking over from Apex-Cleaning - around July 7th .. opt-out option available ..

Anyone considering moving out of M1 ? If so, (how) have you requested to expedite "yet/un-accrued" un-deposited bonus into account prior to moving/opting out ..

Clearing broker account conversion
Hi Customer,
We are pleased to share that M1 Finance LLC ("M1"), a FINRA/SIPC member broker dealer, has developed the ability to support your account as both a carrying and clearing firm. In addition to the functions M1 performs today, including providing you with the ability to create, manage, and automate your portfolio, we believe that this transition will improve your overall experience and enhance our ability to meet your investment needs.

M1's role as your clearing agent
M1 will perform certain centralized cashiering, bookkeeping, and trading functions for your individual and joint brokerage accounts. In addition, M1 will handle the delivery and receipt of securities purchased or sold by clients, receive and distribute dividends and other distributions, and process exchange offers, tender offers, and redemptions. This includes the extension of credit in your margin account. M1 will extend credit for the purchase or sale of securities in margin accounts with the same terms as the margin agreement between you and Apex Clearing Corporation.

Timing of conversion
Over the next several months, M1 will begin moving the custody of your M1 brokerage account from Apex Clearing Corporation ("Apex") to M1 as clearing agent (the "conversion"). The first migration will occur on or about, but not sooner than July 7, 2023. Due to the transitioning of accounts over several phases, you will receive another communication from M1 with additional details approximately 7 days before the conversion of your account. Your account assets are, and following the conversion will continue to be, protected by the Securities Investor Protection Corporation ("SIPC") up to $500,000.

The conversion process
M1 will manage the conversion on your behalf, at no cost to you. You do not need to take any action with your account. Pie allocations will not change, but, behind the scenes, securities and cash will be transferred from Apex Clearing to M1 Financial LLC following the account conversion. Beginning on the date of the conversion, any recurring or one-time transfers and other account instructions will also be directed to M1. You do not need to make any changes to your linked banking instructions. We will handle this change as part of the conversion.

To reiterate, there is no action you need to take to complete this conversion and there will be no cost to you for the transfer of your account from Apex to M1.

You have the right to object to the transfer. If you do not wish to have your account transferred to M1, you should promptly make arrangements to have the cash and securities in your account transferred to another firm of your choosing. Please contact help@m1.com with the subject line "Opt-out of clearing broker account conversion" to transfer your holdings within 30 days from the date of this letter. All transfer fees will be waived before this date
I’ve got a small account at M1. Although their interface is clever with the pies/slices, the lack of being able to call customer service is a pain. I don’t have any bonus on the line. I’m going to take advantage of this free opportunity to transfer out to Vanguard or one of the main brokerages.
bbrock
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

I received an email from public today saying that they will give 10% profit sharing from their securities lending program. I’m really not sure what their securities lending is and turned it off when I signed up.

Here is the text of the email:
We are writing to let you know about some important updates to your brokerage account and programs. Specifically, the terms and conditions of the Apex Fully Paid Securities Lending Program are changing, effective as of June 1st, 2023.

These changes are summarized below and reflected in the updated Apex Fully Paid Master Securities Lending Agreement and Securities Lending Risk Disclosure Statement.

Please take a moment to review each of these important documents. If you’re currently enrolled in the Apex Fully Paid Securities Lending Program and remain enrolled, you agree to these updated terms.

What is changing about the program:
If you are enrolled in the Apex Fully Paid Securities Lending Program, you will now receive a monthly payment if Apex lends out any of your shares.
You’ll receive 10% of the total proceeds earned and received by Apex for lending your shares. This rate may change from time to time, but will not fall below 10% without your authorization.
If your shares are loaned out by Apex, you’ll see the payments automatically in your brokerage account the following month. No action is needed on your part. You can view the payments on the interest tab within your trade history.
You can access which of your shares are out on loan by visiting Apex Clearing at apexclearing.com. Please refer to the FAQ here for more detailed instructions.
The Apex Fully Paid Master Securities Lending Agreement, Securities Lending Risk Disclosure Statement, and Public Investing Form CRS have been updated to reflect these changes. Please take a moment to review these important documents. By keeping the program turned on, you agree to these updated terms.

The program details:
The Fully Paid Securities Lending program gives Apex Clearing the ability to loan out whole shares in your Public portfolio to investors and institutions. You maintain full economic ownership of securities on loan and are able to sell the stocks at any time. However, securities lending is not without risk, including lack of SIPC protection on loaned shares, potential adverse tax consequences, and other risks you can read about here. You can always unenroll by emailing support@public.com with “Securities Lending Opt-Out” in the subject.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
SnowBog
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SnowBog »

EnjoyIt wrote: Wed May 31, 2023 7:14 pm I received an email from public today saying that they will give 10% profit sharing from their securities lending program. I’m really not sure what their securities lending is and turned it off when I signed up.

Here is the text of the email:
We are writing to let you know about some important updates to your brokerage account and programs. Specifically, the terms and conditions of the Apex Fully Paid Securities Lending Program are changing, effective as of June 1st, 2023.

These changes are summarized below and reflected in the updated Apex Fully Paid Master Securities Lending Agreement and Securities Lending Risk Disclosure Statement.

Please take a moment to review each of these important documents. If you’re currently enrolled in the Apex Fully Paid Securities Lending Program and remain enrolled, you agree to these updated terms.

What is changing about the program:
If you are enrolled in the Apex Fully Paid Securities Lending Program, you will now receive a monthly payment if Apex lends out any of your shares.
You’ll receive 10% of the total proceeds earned and received by Apex for lending your shares. This rate may change from time to time, but will not fall below 10% without your authorization.
If your shares are loaned out by Apex, you’ll see the payments automatically in your brokerage account the following month. No action is needed on your part. You can view the payments on the interest tab within your trade history.
You can access which of your shares are out on loan by visiting Apex Clearing at apexclearing.com. Please refer to the FAQ here for more detailed instructions.
The Apex Fully Paid Master Securities Lending Agreement, Securities Lending Risk Disclosure Statement, and Public Investing Form CRS have been updated to reflect these changes. Please take a moment to review these important documents. By keeping the program turned on, you agree to these updated terms.

The program details:
The Fully Paid Securities Lending program gives Apex Clearing the ability to loan out whole shares in your Public portfolio to investors and institutions. You maintain full economic ownership of securities on loan and are able to sell the stocks at any time. However, securities lending is not without risk, including lack of SIPC protection on loaned shares, potential adverse tax consequences, and other risks you can read about here. You can always unenroll by emailing support@public.com with “Securities Lending Opt-Out” in the subject.
Not sure if this is the appropriate thread for this discussion... And I'm not familiar with Public's offering...

But in a more general sense "securities lending" is a way brokerages can make money by lending shares to others. Often this will be people doing options trading, who need to have shares to do this - and might "borrow" them instead of buying them.

From my quick read of what your posted, sounds like Public is going to pay you a minimum of 10% of what they get paid. It's unclear if that's good - or bad...

I'm more familiar with Fidelity's offering, and unless it's changed in addition to what you are paid from the program itself you also get paid enough to offset any extra taxes. As an example, let's say you were supposed to get $1000 of "qualified dividends" - but the shares were "lent out". Most programs will still pay you the $1000, but it loses its "qualified" status - meaning it's taxed at your higher "ordinary" rate. At Fidelity, they pay you "extra" to cover this tax implication.
Last edited by SnowBog on Fri Jun 02, 2023 8:30 pm, edited 1 time in total.
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

10% from Public is absolutely terrible considering Interactive Brokers would give you 50%.
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UncleLeo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by UncleLeo »

EnjoyIt wrote: Wed May 31, 2023 7:14 pm I received an email from public today saying that they will give 10% profit sharing from their securities lending program. I’m really not sure what their securities lending is and turned it off when I signed up.
I don't remember if I turned this off when signing up. Is there a way to know if I'm enrolled in this? I could find anything under the "Manage account".
Assuming I am enrolled in this, could this delay an ACAT transfer out of Public?
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

UncleLeo wrote: Fri Jun 02, 2023 12:44 pm
EnjoyIt wrote: Wed May 31, 2023 7:14 pm I received an email from public today saying that they will give 10% profit sharing from their securities lending program. I’m really not sure what their securities lending is and turned it off when I signed up.
I don't remember if I turned this off when signing up. Is there a way to know if I'm enrolled in this? I could find anything under the "Manage account".
Assuming I am enrolled in this, could this delay an ACAT transfer out of Public?
Yes there's a way... Ask them
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

SnowBog wrote: Fri Jun 02, 2023 12:29 pm
EnjoyIt wrote: Wed May 31, 2023 7:14 pm I received an email from public today saying that they will give 10% profit sharing from their securities lending program. I’m really not sure what their securities lending is and turned it off when I signed up.

Here is the text of the email:
We are writing to let you know about some important updates to your brokerage account and programs. Specifically, the terms and conditions of the Apex Fully Paid Securities Lending Program are changing, effective as of June 1st, 2023.

These changes are summarized below and reflected in the updated Apex Fully Paid Master Securities Lending Agreement and Securities Lending Risk Disclosure Statement.

Please take a moment to review each of these important documents. If you’re currently enrolled in the Apex Fully Paid Securities Lending Program and remain enrolled, you agree to these updated terms.

What is changing about the program:
If you are enrolled in the Apex Fully Paid Securities Lending Program, you will now receive a monthly payment if Apex lends out any of your shares.
You’ll receive 10% of the total proceeds earned and received by Apex for lending your shares. This rate may change from time to time, but will not fall below 10% without your authorization.
If your shares are loaned out by Apex, you’ll see the payments automatically in your brokerage account the following month. No action is needed on your part. You can view the payments on the interest tab within your trade history.
You can access which of your shares are out on loan by visiting Apex Clearing at apexclearing.com. Please refer to the FAQ here for more detailed instructions.
The Apex Fully Paid Master Securities Lending Agreement, Securities Lending Risk Disclosure Statement, and Public Investing Form CRS have been updated to reflect these changes. Please take a moment to review these important documents. By keeping the program turned on, you agree to these updated terms.

The program details:
The Fully Paid Securities Lending program gives Apex Clearing the ability to loan out whole shares in your Public portfolio to investors and institutions. You maintain full economic ownership of securities on loan and are able to sell the stocks at any time. However, securities lending is not without risk, including lack of SIPC protection on loaned shares, potential adverse tax consequences, and other risks you can read about here. You can always unenroll by emailing support@public.com with “Securities Lending Opt-Out” in the subject.
Not sure if this is the appropriate thread for this discussion... And I'm not familiar with Public's offering...

But in a more general sense "securities lending" is a way brokerages can make money by lending shares to others. Often this will be people don't options trading, who need to have shares to do this - and might "borrow" them instead of buying them.

From my quick read of what your posted, sounds like Public is going to pay you a minimum of 10% of what they get paid. It's unclear if that's good - or bad...

I'm more familiar with Fidelity's offering, and unless it's changed in addition to what you are paid from the program itself you also get paid enough to offset any extra taxes. As an example, let's say you were supposed to get $1000 of "qualified dividends" - but the shares were "lent out". Most programs will still pay you the $1000, but it loses its "qualified" status - meaning it's taxed at your higher "ordinary" rate. At Fidelity, they pay you "extra" to cover this tax implication.
Making dividends unqualified is horrible. I don’t know if 10% cuts it.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

UncleLeo wrote: Fri Jun 02, 2023 12:44 pm
EnjoyIt wrote: Wed May 31, 2023 7:14 pm I received an email from public today saying that they will give 10% profit sharing from their securities lending program. I’m really not sure what their securities lending is and turned it off when I signed up.
I don't remember if I turned this off when signing up. Is there a way to know if I'm enrolled in this? I could find anything under the "Manage account".
Assuming I am enrolled in this, could this delay an ACAT transfer out of Public?
You have to ask them to turn it off.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Enjoyit, and others:
1) I’m thinking about moving this small amount I have from M1 to Fidelity. If I just keep it in the Fidelity cash management account, wasn’t there something in this thread that I can keep it in one of the Fidelity MMF and that is used to cover overdraft in the CMA?

2) Fidelity, do you have the choice of whether you want to turn securities lending off or on? What is the default? In the application status I don’t recall it giving me an option to unenrolled.
bbrock
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UncleLeo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by UncleLeo »

Does cash balance in the outgoing brokerage account count for brokerage transfer bonuses?
Specifically, assume the following example:
- Transferring $1.1MM from Vanguard to Etrade for the $1MM bonus tier.
- In the Vanguard account, $150k is in the settlement fund.
Would this case qualify for the $1MM bonus tier?

Edit: Dang! I just noticed that the Etrade offer (link below) expired today. I was able to see the offer page just yesterday and it explicitly stated that the offer is expiring at the end of the month (as also evident by the link) and so I didn't see any rush to enroll (also to extend the 60-day window) and was preparing my outgoing accounts (for example, mutual fund to ETF conversion of Vanguard's side). Now I don't have a way to enroll.
Called their customer service number and reps were not knowledgeable (claimed that they ended all promotions in May, when there are clearly other etrade promotions currently alive (for retirement accounts)).
Do I have a chance to get them to honor the original expiration date or am I just out of luck? How often does Etrade run similar promotions (individual+IRA transfer bonuses)?

The now expired link: https://us.etrade.com/promo/6000cfc-combined-063023
Last edited by UncleLeo on Tue Jun 06, 2023 11:35 pm, edited 2 times in total.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

UncleLeo wrote: Tue Jun 06, 2023 8:19 pm Does cash balance in the outgoing brokerage account count for brokerage transfer bonuses?
Specifically, assume the following example:
- Transferring $1.1MM from Vanguard to Etrade for the $1MM bonus tier.
- In the Vanguard account, $150k is in the settlement fund.
Would this case qualify for the $1MM bonus tier?
...yes? Unless your bonus specifically excludes cash. Usually they say cash or securities
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

UncleLeo wrote: Tue Jun 06, 2023 8:19 pm Does cash balance in the outgoing brokerage account count for brokerage transfer bonuses?
Specifically, assume the following example:
- Transferring $1.1MM from Vanguard to Etrade for the $1MM bonus tier.
- In the Vanguard account, $150k is in the settlement fund.
Would this case qualify for the $1MM bonus tier?
Usually and certainly with etrade.
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UncleLeo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by UncleLeo »

GeraniumLover wrote: Thu May 11, 2023 1:29 pm
Pow wrote: Fri May 05, 2023 9:42 pm
RMO87 wrote: Fri May 05, 2023 2:33 pm It appears the higher E-Trade bonus is only for current customers, enticing them to add to their accounts.
Are you talking about REWARD23 E-Trade promotion? It is for both new and existing customers. And for both it requires a new account.

Edit: nvm, found this other offer https://us.etrade.com/promo/6000cfc-com ... 01&em=6021
FWIW, I was able to get Schwab to match this linked-to promo at the $6000/$2mil level. YMMV.
Can you elaborate on the offer matching process with Schwab, please? Specifically:
- Did you call their customer service (or another number?), or did you go in branch?
- Did they specifically ask for the confirmation email (or something else?) from etrade or would a screenshot of the offer have been enough? Did they provide you with an email to send this to?
epoche
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by epoche »

UncleLeo wrote: Tue Jun 06, 2023 8:19 pm
Do I have a chance to get them to honor the original expiration date or am I just out of luck? How often does Etrade run similar promotions (individual+IRA transfer bonuses)?

The now expired link: https://us.etrade.com/promo/6000cfc-combined-063023
From the original terms and conditions:
Offer expires June 30, 2023. Other restrictions may apply.

E*TRADE Securities reserves the right to terminate this offer at any time.
Think you're just out of luck.
As to how often, typically frequently, but that could change now that they are under the MS umbrella.
Learning2Be
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Learning2Be »

epoche wrote: Wed Jun 07, 2023 12:33 pm
UncleLeo wrote: Tue Jun 06, 2023 8:19 pm
Do I have a chance to get them to honor the original expiration date or am I just out of luck? How often does Etrade run similar promotions (individual+IRA transfer bonuses)?

The now expired link: https://us.etrade.com/promo/6000cfc-combined-063023
From the original terms and conditions:
Offer expires June 30, 2023. Other restrictions may apply.

E*TRADE Securities reserves the right to terminate this offer at any time.
Think you're just out of luck.
As to how often, typically frequently, but that could change now that they are under the MS umbrella.
I'm giving them the benefit of the doubt right now, but I think the MS merger is causing some changes at E-Trade that I don't like.

I called customer service within the last few month to ask about my contact at a branch. I won't say "local" branch because it's 3 hours away but they are the only branch in my state so they've been the ones to help me. CS told me that they were getting rid of (I believe the term was) Financial Consultants. I didn't ask anything about the bonus, but they then unprompted told me they are not doing bonuses anymore either but that may change in the future. They were very eager to tell me this when it wasn't even when I was asking about. So I get the feeling that MS-Etrade is not going to be very bonus friendly.

I was considering going for the 6000cfc bonus which was supposed to end June 30. But they ended it early. To me, that is telling. If you are able to get them to honor it, please do share that with us.
Tarkus
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Tarkus »

I signed up for the $6000 bonus at the end of May. I had an existing ETrade account, and I received a notification that I had added the promotion to my account. And just this morning I started a transfer. I fully expect to get the bonus. I previously got a $3500 bonus earlier this year.
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UncleLeo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by UncleLeo »

Tarkus wrote: Wed Jun 07, 2023 2:01 pm I signed up for the $6000 bonus at the end of May. I had an existing ETrade account, and I received a notification that I had added the promotion to my account. And just this morning I started a transfer. I fully expect to get the bonus. I previously got a $3500 bonus earlier this year.
Don't they have a rule where you can only get one bonus per year?
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

Edit to emphasize that it seems to exclude iras.

I got an email from etrade the other day promoting a bonus for morgan stanley accounts.
Get $500 or as much as $5,000 when you open a new eligible
Morgan Stanley account with $100,000 or more by June 30, 2023.
Start by requesting a complimentary consultation with a Financial Advisor from Morgan Stanley Virtual Advisor today. Offer valid for new and eligible Morgan Stanley non-retirement advisory or brokerage accounts.

Cash credits will be granted based on deposits of funds or securities made into a newly opened Morgan Stanley brokerage or advisory account (or accounts) with an MSWM Financial Advisor by June 30, 2023.

• $100,000 - $249,999 will receive $500
• $250,000 - $499,999 will receive $1,250
• $500,000 - $999,999 will receive $2,500
• $1,000,000 - $1,999,999 will receive $3,750
• $2,000,000 or more will receive $5,000
It's not clear whether only a managed account or a self directed would be eligible after the consultation but it seems to say that it would be managed.
Last edited by placeholder on Wed Jun 07, 2023 6:21 pm, edited 1 time in total.
wellboy99
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by wellboy99 »

epoche wrote: Wed Jun 07, 2023 12:33 pm
UncleLeo wrote: Tue Jun 06, 2023 8:19 pm
Do I have a chance to get them to honor the original expiration date or am I just out of luck? How often does Etrade run similar promotions (individual+IRA transfer bonuses)?

The now expired link: https://us.etrade.com/promo/6000cfc-combined-063023
From the original terms and conditions:
Offer expires June 30, 2023. Other restrictions may apply.

E*TRADE Securities reserves the right to terminate this offer at any time.
Think you're just out of luck.
As to how often, typically frequently, but that could change now that they are under the MS umbrella.
Bummer. There is only retirement account available, no brokerage anymore. Please post if anyone sees they run the retirement plus brokerage combo promotion again.

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
fr00t
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brokerage bonuses

Post by fr00t »

[Merged into ongoing discussion -- moderator oldcomputerguy]

It's a bit off topic but seems relevant to this community. What do you think about brokerage bonuses? It's pretty straightforward if you have a simple portfolio - most of my assets are in VOO. It's not much but if I do 1-2 per year that's about 1% risk-free return on my portfolio. Terms are typically something like: ~$1k bonus for ~200k transferred, holding period of a few months to a year. % returns decline as numbers increase beyond this point, but still thousands a year.

But enlighten me, is there some risk on transfer friction or something else I'm missing?
sandramjet
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Re: brokerage bonuses

Post by sandramjet »

Try looking at :
viewtopic.php?t=196884
placeholder
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Re: brokerage bonuses

Post by placeholder »

Yes the mini faq from earl should answer many of your questions.
michaeljc70
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Re: brokerage bonuses

Post by michaeljc70 »

I've gotten them many, many times. With consolidations and crack downs they are less common now. Since many of them are equal-ish in terms of quality/fees/service, go for it if it seems worthwhile. The more $$$ you have, obviously the bigger the bonus. I don't have a ton of $$$ (mostly moving mid to high 6 figures), but I would say I got $10k in bonuses over the last 10 years.
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