The Final, Definitive Thread on Brokerage Transfer Bonuses

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SlowMovingInvestor
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Re: Worth converting to ETFs for brokerage bonuses?

Post by SlowMovingInvestor »

ResearchMed wrote: Mon May 23, 2022 5:47 am
UserFace specified Chase in particular. Is Chase more restrictive than most firms in which mutual funds it will allow?
Not sure about now, but 1-2 years back, they were LESS restrictive. They even allowed purchase of Vanguard's MM funds, which no other brokerage does.

And they seemed to allow transfers of any VG fund that I had.
Last edited by SlowMovingInvestor on Fri May 27, 2022 6:27 am, edited 2 times in total.
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

I got a Tradestation bonus, a few weeks before their T&Cs say. I'm not sure I've completed 270 days.

Can I move it out right now, or should I wait a few weeks more to be safe?
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

SlowMovingInvestor wrote: Fri May 27, 2022 6:25 am I got a Tradestation bonus, a few weeks before their T&Cs say. I'm not sure I've completed 270 days.

Can I move it out right now, or should I wait a few weeks more to be safe?
Just wait a few more weeks, you don't want them to say you did not complete the terms.
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

student wrote: Fri May 27, 2022 6:38 am
SlowMovingInvestor wrote: Fri May 27, 2022 6:25 am I got a Tradestation bonus, a few weeks before their T&Cs say. I'm not sure I've completed 270 days.

Can I move it out right now, or should I wait a few weeks more to be safe?
Just wait a few more weeks, you don't want them to say you did not complete the terms.
Unfortunately, I'm going to be travelling a lot in June/July, so if I wait, I might not get a chance to withdraw till August. Still, I suppose there's no alternative.
Helium
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Helium »

I did a full account transfer from Merrill to Etrade for a Roth IRA bonus.

Fractional shares were automatically sold, but the proceeds are still at Merrill (around $100).

The Merrill account actually says closed now but the funds are still in there.

Will the funds automatically be transferred to Etrade in a followup transfer, or do I need to take some action to get it transferred?
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

Helium wrote: Thu Jun 02, 2022 5:48 am I did a full account transfer from Merrill to Etrade for a Roth IRA bonus.

Fractional shares were automatically sold, but the proceeds are still at Merrill (around $100).

The Merrill account actually says closed now but the funds are still in there.

Will the funds automatically be transferred to Etrade in a followup transfer, or do I need to take some action to get it transferred?
Is this a recent event? They usually do a second sweep a few days later in case there are residual activities so you will get the money at that time...
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

JPM/Chase Bonus, only 90 day wait

https://account.chase.com/consumer/inve ... 926Y7FZ7MJ

I already have an account at JPM, but I have some IRA $ I can transfer there to a new IRA account. I might keep that account to maintain my CPC status, while transferring my non IRA account elsewhere once the waiting period ends (to be ultra cautious).
Emptykeg
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Emptykeg »

I have a high 7 figure taxable account at Schwab. Do you think it’s worth transferring the bond portion to Ally for $3K bonus and the rest of the account to Etrade for $3500?
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

Emptykeg wrote: Thu Jun 02, 2022 4:50 pm I have a high 7 figure taxable account at Schwab. Do you think it’s worth transferring the bond portion to Ally for $3K bonus and the rest of the account to Etrade for $3500?
Would you like to have an extra $6500?
skeptical
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by skeptical »

I am curious about this also - I am also looking to transfer from Vanguard to either Schwab or Fidelity. Yesterday, Schwab has told me that they no longer offer a transfer bonus, but will match one from a competitor. I have not gotten to discussing bonuses with Fidelity yet.

For context, I am working with a local representative who would be my contact point.


Kookaburra wrote: Thu May 12, 2022 9:44 am I am looking to transfer my brokerage and IRA holdings from Vanguard to either Fidelity or Schwab. Since I have current holdings at Fidelity, I plan to start with them to see if they’ll match the best transfer offer out there. I have a couple questions related to this:

1. What / who has the best transfer deals out there right now, as the point of comparison?

2. Does anyone have recommendations, based on experience, as to how to get Fidelity to match it? What to do or say, or lessons learned on what not to do or say? I’ve read that some folks were able to get Fidelity to match the best offer out there (yay!), while others have commented they could only get the basic offer of 1K per each 1M increment (boo!). I’m trying to figure out how some had success in getting them to offer more generous terms.

3. In terms of how to approach Fidelity, for those who had success getting them to match, did you call the local branch, send a secure message through your account online, or other?

Thank you!
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

skeptical wrote: Fri Jun 03, 2022 10:59 am I am curious about this also - I am also looking to transfer from Vanguard to either Schwab or Fidelity. Yesterday, Schwab has told me that they no longer offer a transfer bonus, but will match one from a competitor. I have not gotten to discussing bonuses with Fidelity yet.

For context, I am working with a local representative who would be my contact point.


Kookaburra wrote: Thu May 12, 2022 9:44 am I am looking to transfer my brokerage and IRA holdings from Vanguard to either Fidelity or Schwab. Since I have current holdings at Fidelity, I plan to start with them to see if they’ll match the best transfer offer out there. I have a couple questions related to this:

1. What / who has the best transfer deals out there right now, as the point of comparison?

2. Does anyone have recommendations, based on experience, as to how to get Fidelity to match it? What to do or say, or lessons learned on what not to do or say? I’ve read that some folks were able to get Fidelity to match the best offer out there (yay!), while others have commented they could only get the basic offer of 1K per each 1M increment (boo!). I’m trying to figure out how some had success in getting them to offer more generous terms.

3. In terms of how to approach Fidelity, for those who had success getting them to match, did you call the local branch, send a secure message through your account online, or other?

Thank you!
Regarding Schwab, some competitor offers are:

- ETrade https://www.doctorofcredit.com/etrade-u ... -required/
Direct offer: https://us.etrade.com/what-we-offer/how ... ra-cfc3500
This is for a retirement/IRA account.
$3500 for $1M+, $1800 for $500k-$999,999, $1000 for $200k-$499,999, $500 for $100k-$199,999 and a couple other levels.

- Ally https://www.doctorofcredit.com/ally-inv ... r-90-days/
Direct offer: https://www.ally.com/go/invest/promotion/ (through 6/30/2022)
$3000 for $2M+, $2000 for $1M-$1.99MM, $1200 for $500k-$999.9k, $600 for $250k-$499.9k and a few other levels.

I'm not sure what Schwab is looking for in terms of "proof of offer" but you could try giving Schwab the direct URLs above.

Failing that, open an account with ETrade or Ally following their directions for opening an account to get the promo. You don't have to transfer assets, just opening the account should result in you getting an email from them indicating the terms for the promo. You could provide the email to Schwab for proof (again, if it comes to that).
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

sycamore wrote: Fri Jun 03, 2022 11:58 am
skeptical wrote: Fri Jun 03, 2022 10:59 am I am curious about this also - I am also looking to transfer from Vanguard to either Schwab or Fidelity. Yesterday, Schwab has told me that they no longer offer a transfer bonus, but will match one from a competitor. I have not gotten to discussing bonuses with Fidelity yet.

For context, I am working with a local representative who would be my contact point.


Kookaburra wrote: Thu May 12, 2022 9:44 am I am looking to transfer my brokerage and IRA holdings from Vanguard to either Fidelity or Schwab. Since I have current holdings at Fidelity, I plan to start with them to see if they’ll match the best transfer offer out there. I have a couple questions related to this:

1. What / who has the best transfer deals out there right now, as the point of comparison?

2. Does anyone have recommendations, based on experience, as to how to get Fidelity to match it? What to do or say, or lessons learned on what not to do or say? I’ve read that some folks were able to get Fidelity to match the best offer out there (yay!), while others have commented they could only get the basic offer of 1K per each 1M increment (boo!). I’m trying to figure out how some had success in getting them to offer more generous terms.

3. In terms of how to approach Fidelity, for those who had success getting them to match, did you call the local branch, send a secure message through your account online, or other?

Thank you!
Regarding Schwab, some competitor offers are:

- ETrade https://www.doctorofcredit.com/etrade-u ... -required/
Direct offer: https://us.etrade.com/what-we-offer/how ... ra-cfc3500
This is for a retirement/IRA account.
$3500 for $1M+, $1800 for $500k-$999,999, $1000 for $200k-$499,999, $500 for $100k-$199,999 and a couple other levels.

- Ally https://www.doctorofcredit.com/ally-inv ... r-90-days/
Direct offer: https://www.ally.com/go/invest/promotion/ (through 6/30/2022)
$3000 for $2M+, $2000 for $1M-$1.99MM, $1200 for $500k-$999.9k, $600 for $250k-$499.9k and a few other levels.

I'm not sure what Schwab is looking for in terms of "proof of offer" but you could try giving Schwab the direct URLs above.

Failing that, open an account with ETrade or Ally following their directions for opening an account to get the promo. You don't have to transfer assets, just opening the account should result in you getting an email from them indicating the terms for the promo. You could provide the email to Schwab for proof (again, if it comes to that).
Schwab did match a competitive offer for me and an URL was sufficient.
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

Emptykeg wrote: Thu Jun 02, 2022 4:50 pm I have a high 7 figure taxable account at Schwab. Do you think it’s worth transferring the bond portion to Ally for $3K bonus and the rest of the account to Etrade for $3500?
For high 7 figure you should contact MS/ETrade, Fido etc. to see how much they might give you if you transfer there.

I wouldn't be at all surprised if Etrade in particular can give you at least $6500 by itself. OR even more depending on size of transfer.
skeptical
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by skeptical »

sycamore wrote: Fri Jun 03, 2022 11:58 am
skeptical wrote: Fri Jun 03, 2022 10:59 am I am curious about this also - I am also looking to transfer from Vanguard to either Schwab or Fidelity. Yesterday, Schwab has told me that they no longer offer a transfer bonus, but will match one from a competitor. I have not gotten to discussing bonuses with Fidelity yet.

For context, I am working with a local representative who would be my contact point.


Kookaburra wrote: Thu May 12, 2022 9:44 am I am looking to transfer my brokerage and IRA holdings from Vanguard to either Fidelity or Schwab. Since I have current holdings at Fidelity, I plan to start with them to see if they’ll match the best transfer offer out there. I have a couple questions related to this:

1. What / who has the best transfer deals out there right now, as the point of comparison?

2. Does anyone have recommendations, based on experience, as to how to get Fidelity to match it? What to do or say, or lessons learned on what not to do or say? I’ve read that some folks were able to get Fidelity to match the best offer out there (yay!), while others have commented they could only get the basic offer of 1K per each 1M increment (boo!). I’m trying to figure out how some had success in getting them to offer more generous terms.

3. In terms of how to approach Fidelity, for those who had success getting them to match, did you call the local branch, send a secure message through your account online, or other?

Thank you!
Regarding Schwab, some competitor offers are:

- ETrade https://www.doctorofcredit.com/etrade-u ... -required/
Direct offer: https://us.etrade.com/what-we-offer/how ... ra-cfc3500
This is for a retirement/IRA account.
$3500 for $1M+, $1800 for $500k-$999,999, $1000 for $200k-$499,999, $500 for $100k-$199,999 and a couple other levels.

- Ally https://www.doctorofcredit.com/ally-inv ... r-90-days/
Direct offer: https://www.ally.com/go/invest/promotion/ (through 6/30/2022)
$3000 for $2M+, $2000 for $1M-$1.99MM, $1200 for $500k-$999.9k, $600 for $250k-$499.9k and a few other levels.

I'm not sure what Schwab is looking for in terms of "proof of offer" but you could try giving Schwab the direct URLs above.

Failing that, open an account with ETrade or Ally following their directions for opening an account to get the promo. You don't have to transfer assets, just opening the account should result in you getting an email from them indicating the terms for the promo. You could provide the email to Schwab for proof (again, if it comes to that).
Thank you. Schwab has said it has to be like for like (retirement vs taxable), so I could use this for etrade for that and ally for the taxable. "student"said the link was fine, I believe the reps want to give the bonuses, they cannot just offer it without basic "proof"

Not nearly as much as I was hoping for based on previous responses in this thread from a couple years ago.
vaylie
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by vaylie »

I transferred about $100k into Schwab earlier this year without realizing they matched sign-on bonuses. Is it too late to ask about it now (has anyone managed to do this retro-actively?) I feel a bit bummed about it as that's quite a lot of money and now that the markets are volatile/down, I won't be able to meet any 100k thresholds by transferring elsewhere for bonuses (this is a rollover IRA, so I don't want to contribute to it).
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

vaylie wrote: Fri Jun 03, 2022 5:57 pm I transferred about $100k into Schwab earlier this year without realizing they matched sign-on bonuses. Is it too late to ask about it now (has anyone managed to do this retro-actively?) I feel a bit bummed about it as that's quite a lot of money and now that the markets are volatile/down, I won't be able to meet any 100k thresholds by transferring elsewhere for bonuses (this is a rollover IRA, so I don't want to contribute to it).
Why don't you want to contribute to a Rollover IRA? Traditional IRA's are just as rollover-able as Rollover IRA's, what purpose is to have them separated?
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

vaylie wrote: Fri Jun 03, 2022 5:57 pm I transferred about $100k into Schwab earlier this year without realizing they matched sign-on bonuses. Is it too late to ask about it now (has anyone managed to do this retro-actively?) I feel a bit bummed about it as that's quite a lot of money and now that the markets are volatile/down, I won't be able to meet any 100k thresholds by transferring elsewhere for bonuses (this is a rollover IRA, so I don't want to contribute to it).
I think it is unlikely they will do this retroactively. But what do I know.
Nathan Drake
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Nathan Drake »

skeptical wrote: Fri Jun 03, 2022 10:59 am I am curious about this also - I am also looking to transfer from Vanguard to either Schwab or Fidelity. Yesterday, Schwab has told me that they no longer offer a transfer bonus, but will match one from a competitor. I have not gotten to discussing bonuses with Fidelity yet.

For context, I am working with a local representative who would be my contact point.


Kookaburra wrote: Thu May 12, 2022 9:44 am I am looking to transfer my brokerage and IRA holdings from Vanguard to either Fidelity or Schwab. Since I have current holdings at Fidelity, I plan to start with them to see if they’ll match the best transfer offer out there. I have a couple questions related to this:

1. What / who has the best transfer deals out there right now, as the point of comparison?

2. Does anyone have recommendations, based on experience, as to how to get Fidelity to match it? What to do or say, or lessons learned on what not to do or say? I’ve read that some folks were able to get Fidelity to match the best offer out there (yay!), while others have commented they could only get the basic offer of 1K per each 1M increment (boo!). I’m trying to figure out how some had success in getting them to offer more generous terms.

3. In terms of how to approach Fidelity, for those who had success getting them to match, did you call the local branch, send a secure message through your account online, or other?

Thank you!
I recently worked with Fidelity. You will need to get in touch with a local representative and negotiate that way. It may be very hit or miss.

They were offering $1,000 for 1M in assets and didn't seem like there was much wiggle room. I certainly pushed for them to match competitors, but they weren't willing to match that and at the end of the day I wanted to consolidate with Fidelity anyway as a "one-stop shop" and I don't really play the musical chairs game of transfer bonuses, I just wanted to move away from my other brokerage accounts and Fidelity made everything pretty easy.
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vaylie
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by vaylie »

tj wrote: Fri Jun 03, 2022 6:44 pm
vaylie wrote: Fri Jun 03, 2022 5:57 pm I transferred about $100k into Schwab earlier this year without realizing they matched sign-on bonuses. Is it too late to ask about it now (has anyone managed to do this retro-actively?) I feel a bit bummed about it as that's quite a lot of money and now that the markets are volatile/down, I won't be able to meet any 100k thresholds by transferring elsewhere for bonuses (this is a rollover IRA, so I don't want to contribute to it).
Why don't you want to contribute to a Rollover IRA? Traditional IRA's are just as rollover-able as Rollover IRA's, what purpose is to have them separated?
I guess I want to leave the option open to roll the IRA back into a 401k plan, and I was under the impression that this may not be allowed if I contributed to the rollover IRA (basically turning it into a traditional IRA). Otherwise, I'd have just rolled everything into my existing TIRA account instead of keeping a separate rollover IRA.
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

vaylie wrote: Fri Jun 03, 2022 7:04 pm I guess I want to leave the option open to roll the IRA back into a 401k plan, and I was under the impression that this may not be allowed if I contributed to the rollover IRA (basically turning it into a traditional IRA). Otherwise, I'd have just rolled everything into my existing TIRA account instead of keeping a separate rollover IRA.
While there is no restriction with regards to the law some plans still restrict incoming rollovers to rollover iras so it's probably a sound idea.
SlowMovingInvestor
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SlowMovingInvestor »

SlowMovingInvestor wrote: Thu Jun 02, 2022 6:28 am JPM/Chase Bonus, only 90 day wait

https://account.chase.com/consumer/inve ... 926Y7FZ7MJ

I already have an account at JPM, but I have some IRA $ I can transfer there to a new IRA account. I might keep that account to maintain my CPC status, while transferring my non IRA account elsewhere once the waiting period ends (to be ultra cautious).
I tried to open an IRA account with this bonus, and it said the bonus had already been redeemed, but I could open a new account if I wanted.

I have not used this bonus. I have obtained a YouInvest bonus, but that was over 12 months ago (more like 18), and the T&C say

You can only participate in one Chase Private Client CheckingSM, Chase SapphireSM Checking or J.P. Morgan Self-Directed Investing new money bonus in a 12 month period from the last bonus enrollment date

No idea what's going on. I might ping JPM Chase.

If anyone has any experience with multiple JPM bonuses, please post.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

SlowMovingInvestor wrote: Mon Jun 06, 2022 4:25 pm
SlowMovingInvestor wrote: Thu Jun 02, 2022 6:28 am JPM/Chase Bonus, only 90 day wait

https://account.chase.com/consumer/inve ... 926Y7FZ7MJ

I already have an account at JPM, but I have some IRA $ I can transfer there to a new IRA account. I might keep that account to maintain my CPC status, while transferring my non IRA account elsewhere once the waiting period ends (to be ultra cautious).
I tried to open an IRA account with this bonus, and it said the bonus had already been redeemed, but I could open a new account if I wanted.

I have not used this bonus. I have obtained a YouInvest bonus, but that was over 12 months ago (more like 18), and the T&C say

You can only participate in one Chase Private Client CheckingSM, Chase SapphireSM Checking or J.P. Morgan Self-Directed Investing new money bonus in a 12 month period from the last bonus enrollment date

No idea what's going on. I might ping JPM Chase.

If anyone has any experience with multiple JPM bonuses, please post.
I suggest you talk to someone at the branch and follow up with an email to create a paper trail. If they tell you that you are eligible and you do not get a bonus, you have a record.
bogswenbern
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bogswenbern »

What is the most anyone has had success in getting Schwab to match for transferring? Trying to get them to beat or at least match Streetbeat:

When a Qualified Customer makes a deposit into a Qualified Account, Streetbeat will provide a
Bonus Reward of up to $5,000.00. Streetbeat will award Bonus Rewards according to the
following table:
Bonus Level Net Deposit Amount($ USD) Bonus Reward ($ USD)
0 50.00 – 99.99 10.00
1 100.00 – 499.99 20.00
2 500.00 – 1,999.99 25.00
3 2,000.00 – 9,999.99 40.00
4 10,000.00 – 24,999.99 120.00
5 25,000.00 – 49,999.99 270.00
6 50,000.00 – 99,999.99 500.00
7 100,000.00 – 499,999.99 1,020.00
8 500,000.00 – 999,999.99 2,500.00
9 1,000,000.00 + 5,000.00
MapleSyrup
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by MapleSyrup »

I have a couple questions regarding the current Merrill Edge $750 transfer bonus:

1. In valuing net new assets, it says they subtract “assets withdrawn or transferred out of the account within the preceding 24 weeks.” The bonus is paid after the 90 days of funding the account. Does the 24 weeks refer to 24 weeks before the account is funded (for example if I had transferred money out of a separate Merrill account recently) and/or 24 weeks after the account is funded or both? Does it mean they count net assets across all the Merrill accounts one may have or just the new account opened for the bonus?

2. The offer says: “Your cash reward will be determined by the qualifying net new assets in your account (irrespective of any losses or gains due to trading or market volatility).”
Does this mean that if a transfer in $100,000, and after 90 days the market value has gone down, that I would still get the bonus for the $100,000 level?

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

Post by Emptykeg »

SlowMovingInvestor wrote: Fri Jun 03, 2022 3:15 pm
Emptykeg wrote: Thu Jun 02, 2022 4:50 pm I have a high 7 figure taxable account at Schwab. Do you think it’s worth transferring the bond portion to Ally for $3K bonus and the rest of the account to Etrade for $3500?
For high 7 figure you should contact MS/ETrade, Fido etc. to see how much they might give you if you transfer there.

I wouldn't be at all surprised if Etrade in particular can give you at least $6500 by itself. OR even more depending on size of transfer.

Thanks. I am shocked how much Etrade is willing to give me for the transfer!
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

I would guess with merrill edge the 24 week thing wouldn't affect moving out of a different account like move some roth money out and taxable in but I don't know for sure.
BuddyJet
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by BuddyJet »

DoctorOfCredit posted a new etrade promo for existing accounts. Up to $5k for $2mm.

https://us.etrade.com/promo/5000cfc-low-063022
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Emptykeg
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Emptykeg »

Just transferred to etrade for 16k bonus.
Kookaburra
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Kookaburra »

Emptykeg wrote: Thu Jun 16, 2022 9:49 pm Just transferred to etrade for 16k bonus.
What 16K bonus?
Kookaburra
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Kookaburra »

Is Schwab still matching transfer offers?
Emptykeg
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Emptykeg »

Deleted
zeugmite
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by zeugmite »

Does the E*Trade brokerage bonus get affected by the existence and funds in an E*Trade banking account (i.e. do they count as new funds), like BOA/Merrill are one system, or are they completely separate?
Barefootgirl
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Barefootgirl »

I'd like to open a new IRA account with Fidelity. I can't seem to find any published bonuses for them now.

Is anyone aware of a Fidelity bonus at the moment? Thanks
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by LadyGeek »

You need to call them to get the bonus. See my post here.
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J295
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by J295 »

Apparently Schwab provides $1,000 bonus for a $500k transfer (friend referral program). I'm not finding anything else online for higher transfers. Anyone have any information of higher bonuses for higher transfers? Thank you.
Statistical
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Statistical »

vaylie wrote: Fri Jun 03, 2022 7:04 pm
tj wrote: Fri Jun 03, 2022 6:44 pm
vaylie wrote: Fri Jun 03, 2022 5:57 pm I transferred about $100k into Schwab earlier this year without realizing they matched sign-on bonuses. Is it too late to ask about it now (has anyone managed to do this retro-actively?) I feel a bit bummed about it as that's quite a lot of money and now that the markets are volatile/down, I won't be able to meet any 100k thresholds by transferring elsewhere for bonuses (this is a rollover IRA, so I don't want to contribute to it).
Why don't you want to contribute to a Rollover IRA? Traditional IRA's are just as rollover-able as Rollover IRA's, what purpose is to have them separated?
I guess I want to leave the option open to roll the IRA back into a 401k plan, and I was under the impression that this may not be allowed if I contributed to the rollover IRA (basically turning it into a traditional IRA). Otherwise, I'd have just rolled everything into my existing TIRA account instead of keeping a separate rollover IRA.
At one time that was true but today almost all 401(k) custodians will take a rollover from any IRA (not Roth obviously). I mean of course they would it means more AUM which means more fees which means more money.

Today "rollover IRA" are really an account with almost no purpose. You may want to check with your current employer 401(k) custodian to confirm but unless it is some tiny niche outfit it is very unlikely they don't take rollovers from trad IRAs.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

MapleSyrup wrote: Tue Jun 07, 2022 4:56 pm I have a couple questions regarding the current Merrill Edge $750 transfer bonus:

1. In valuing net new assets, it says they subtract “assets withdrawn or transferred out of the account within the preceding 24 weeks.” The bonus is paid after the 90 days of funding the account. Does the 24 weeks refer to 24 weeks before the account is funded (for example if I had transferred money out of a separate Merrill account recently) and/or 24 weeks after the account is funded or both? Does it mean they count net assets across all the Merrill accounts one may have or just the new account opened for the bonus?

2. The offer says: “Your cash reward will be determined by the qualifying net new assets in your account (irrespective of any losses or gains due to trading or market volatility).”
Does this mean that if a transfer in $100,000, and after 90 days the market value has gone down, that I would still get the bonus for the $100,000 level?

Thanks!
For 1, it is before the account is funded. They do not want people to transfer money out, wait a few weeks and come back for another bonus.

For 2, the answer is yes. If the value has gone down due to the market, you still get the bonus.
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

bogswenbern wrote: Mon Jun 06, 2022 11:20 pm What is the most anyone has had success in getting Schwab to match for transferring? Trying to get them to beat or at least match Streetbeat:

When a Qualified Customer makes a deposit into a Qualified Account, Streetbeat will provide a
Bonus Reward of up to $5,000.00. Streetbeat will award Bonus Rewards according to the
following table:
Bonus Level Net Deposit Amount($ USD) Bonus Reward ($ USD)
0 50.00 – 99.99 10.00
1 100.00 – 499.99 20.00
2 500.00 – 1,999.99 25.00
3 2,000.00 – 9,999.99 40.00
4 10,000.00 – 24,999.99 120.00
5 25,000.00 – 49,999.99 270.00
6 50,000.00 – 99,999.99 500.00
7 100,000.00 – 499,999.99 1,020.00
8 500,000.00 – 999,999.99 2,500.00
9 1,000,000.00 + 5,000.00
I would be surprised if they match this. I would guess that there is a better chance for them to match offers from major brokerage firms.
Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

bogswenbern wrote: Mon Jun 06, 2022 11:20 pm What is the most anyone has had success in getting Schwab to match for transferring? Trying to get them to beat or at least match Streetbeat:

When a Qualified Customer makes a deposit into a Qualified Account, Streetbeat will provide a
Bonus Reward of up to $5,000.00. Streetbeat will award Bonus Rewards according to the
following table:
Bonus Level Net Deposit Amount($ USD) Bonus Reward ($ USD)
0 50.00 – 99.99 10.00
1 100.00 – 499.99 20.00
2 500.00 – 1,999.99 25.00
3 2,000.00 – 9,999.99 40.00
4 10,000.00 – 24,999.99 120.00
5 25,000.00 – 49,999.99 270.00
6 50,000.00 – 99,999.99 500.00
7 100,000.00 – 499,999.99 1,020.00
8 500,000.00 – 999,999.99 2,500.00
9 1,000,000.00 + 5,000.00

I'd like a $5,000 bonus. But "Streetbeat"? What's THAT? I wouldn't risk moving $1M there for that.
bogswenbern
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bogswenbern »

Leesbro63 wrote: Sat Jun 25, 2022 1:03 pm
bogswenbern wrote: Mon Jun 06, 2022 11:20 pm What is the most anyone has had success in getting Schwab to match for transferring? Trying to get them to beat or at least match Streetbeat:

When a Qualified Customer makes a deposit into a Qualified Account, Streetbeat will provide a
Bonus Reward of up to $5,000.00. Streetbeat will award Bonus Rewards according to the
following table:
Bonus Level Net Deposit Amount($ USD) Bonus Reward ($ USD)
0 50.00 – 99.99 10.00
1 100.00 – 499.99 20.00
2 500.00 – 1,999.99 25.00
3 2,000.00 – 9,999.99 40.00
4 10,000.00 – 24,999.99 120.00
5 25,000.00 – 49,999.99 270.00
6 50,000.00 – 99,999.99 500.00
7 100,000.00 – 499,999.99 1,020.00
8 500,000.00 – 999,999.99 2,500.00
9 1,000,000.00 + 5,000.00

I'd like a $5,000 bonus. But "Streetbeat"? What's THAT? I wouldn't risk moving $1M there for that.
Well it's legit enough to be listed on Doctor of Credit.
What is the most anyone has had success in getting Schwab to match for transferring? I'm trying to see if it is worth shooting for, and what method to use. Or I could just not transfer to Schwab, which might not be "risky" but is still a hassle.
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

Statistical wrote: Fri Jun 24, 2022 9:30 pm At one time that was true but today almost all 401(k) custodians will take a rollover from any IRA (not Roth obviously). I mean of course they would it means more AUM which means more fees which means more money.

Today "rollover IRA" are really an account with almost no purpose. You may want to check with your current employer 401(k) custodian to confirm but unless it is some tiny niche outfit it is very unlikely they don't take rollovers from trad IRAs.
Wouldn’t discount power of Rollover-IRA vs. contributory/trad IRA. i wouldn’t try/fall-for mixing/co-mingling both type of assets.

Some of the ERISA assets/lawsuits stronger protections apply to Rollover IRAs, may not avail to Trad-IRAs which are protected at lot lower amounts at state-level/weaker limits.

good many brokerages allow bonus on (mostly prorated across) Total net-new monies being brought-in across multiple accounts.
RubyTuesday
Posts: 2236
Joined: Fri Oct 19, 2012 11:24 am

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by RubyTuesday »

bogswenbern wrote: Sun Jun 26, 2022 12:56 am
Leesbro63 wrote: Sat Jun 25, 2022 1:03 pm
bogswenbern wrote: Mon Jun 06, 2022 11:20 pm What is the most anyone has had success in getting Schwab to match for transferring? Trying to get them to beat or at least match Streetbeat:

When a Qualified Customer makes a deposit into a Qualified Account, Streetbeat will provide a
Bonus Reward of up to $5,000.00. Streetbeat will award Bonus Rewards according to the
following table:
Bonus Level Net Deposit Amount($ USD) Bonus Reward ($ USD)
0 50.00 – 99.99 10.00
1 100.00 – 499.99 20.00
2 500.00 – 1,999.99 25.00
3 2,000.00 – 9,999.99 40.00
4 10,000.00 – 24,999.99 120.00
5 25,000.00 – 49,999.99 270.00
6 50,000.00 – 99,999.99 500.00
7 100,000.00 – 499,999.99 1,020.00
8 500,000.00 – 999,999.99 2,500.00
9 1,000,000.00 + 5,000.00

I'd like a $5,000 bonus. But "Streetbeat"? What's THAT? I wouldn't risk moving $1M there for that.
Well it's legit enough to be listed on Doctor of Credit.
What is the most anyone has had success in getting Schwab to match for transferring? I'm trying to see if it is worth shooting for, and what method to use. Or I could just not transfer to Schwab, which might not be "risky" but is still a hassle.
Our bonuses for 2 people over 4 accounts (one joint, 3 IRAs) totaled $8800 over about 5 months. These were all considered matches of eTrade offers FWIW.
“Doing nothing is better than being busy doing nothing.” – Lao Tzu
itworks
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by itworks »

I am studying Charles Schwab referral offer (https://www.schwab.com/client-referral). Can anyone please help with two questions?

1. In the offer QA question 'What accounts can be opened to get the Bonus Award?', it is stated that both 'retail brokerage accounts and individual retirement accounts (IRAs)'. Later, in the question 'See full terms and conditions'. it is stated that '...open and make a qualifying net deposit into an eligible retail brokerage account within 45 days of enrolling in the offer'.

I have only Roth IRA assets to transfer into Schwab for this offer. I do not want to open a 'retail brokerage account' which I assume it is taxable. The term seems saying 'net deposit into an eligible retail brokerage account', but not 'Roth IRA'. Is that just a badly-worded term? Can I still open only a Roth IRA and ACAT only IRA assets to get the offer?

2. It also states that 'For taxable accounts, you must maintain the net deposit amount (less any market losses) at Schwab for at least one year'. It does not mention IRA. How long does assets transferred in the Roth IRA account have to stay there?

Thanks!
User avatar
pre
Posts: 183
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

itworks wrote: Mon Jul 04, 2022 2:21 am I am studying Charles Schwab referral offer (https://www.schwab.com/client-referral). Can anyone please help with two questions?

1. In the offer QA question 'What accounts can be opened to get the Bonus Award?', it is stated that both 'retail brokerage accounts and individual retirement accounts (IRAs)'. Later, in the question 'See full terms and conditions'. it is stated that '...open and make a qualifying net deposit into an eligible retail brokerage account within 45 days of enrolling in the offer'.

I have only Roth IRA assets to transfer into Schwab for this offer. I do not want to open a 'retail brokerage account' which I assume it is taxable. The term seems saying 'net deposit into an eligible retail brokerage account', but not 'Roth IRA'. Is that just a badly-worded term? Can I still open only a Roth IRA and ACAT only IRA assets to get the offer?

2. It also states that 'For taxable accounts, you must maintain the net deposit amount (less any market losses) at Schwab for at least one year'. It does not mention IRA. How long does assets transferred in the Roth IRA account have to stay there?

Thanks!
If you want to consider TDA, they're offering the same bonus tiers . They are a lot more explicit about allowed accounts. During sign up, the application will verify you qualify. And when you log in to the new account, there's a "Promotions" link that you can further verify eligibility.

Roth IRA definitely qualifies -- I've done cash, traditional, and Roth this year, and all were credited appropriately.

Bonus credits after 45 days and they will claw back if transferring out before the year
CloseEnough
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Fidelity Incentives for transfer of accounts?

Post by CloseEnough »

[Thread merged into here --admin LadyGeek]

Curious if anyone has recent experience with incentives offered by Fidelity for transfer of accounts from another brokerage? Amount could be mid-6 figures. Perhaps at this level there are no incentives?
Thanks.
User avatar
galawdawg
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Location: Georgia

Re: Fidelity Incentives for transfer of accounts?

Post by galawdawg »

Have you looked or asked here? viewtopic.php?t=196884
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JoMoney
Posts: 16260
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Re: Fidelity Incentives for transfer of accounts?

Post by JoMoney »

No recent experience here, but Fidelity doesn't generally advertise transfer bonuses. They're available, but you usually have to talk with someone to get one. My recommendation is to find a transfer bonus from somewhere else that looks compelling, then talk to someone at Fidelity to see if they'll match that to move to Fidelity. I know this has worked for people transferring 7 figure balances, not sure about less, but I would expect they're at least trying to be competitive for 6 figure accounts too ;)
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
expatish
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Re: Fidelity Incentives for transfer of accounts?

Post by expatish »

Last year when I inquired they were offering $1,000 per 1M transferred.
RubyTuesday
Posts: 2236
Joined: Fri Oct 19, 2012 11:24 am

Re: Fidelity Incentives for transfer of accounts?

Post by RubyTuesday »

Here’s LadyGeek’s post with details of her transfer bonus:
viewtopic.php?p=6440111#p6440111
“Doing nothing is better than being busy doing nothing.” – Lao Tzu
CloseEnough
Posts: 1266
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Re: Fidelity Incentives for transfer of accounts?

Post by CloseEnough »

Thanks to all. Probably not much there with this smaller amount, but can't hurt to ask!
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