The Final, Definitive Thread on Brokerage Transfer Bonuses

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need403bhelp
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by need403bhelp »

Anyone recently done an account transfer from Schwab to TDA? Any transfer fee charged on Schwab side? Thinking of doing this to avoid $50 Schwab fee since e trade won’t reimburse me.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

need403bhelp wrote: Mon Jul 25, 2022 4:21 pm Anyone recently done an account transfer from Schwab to TDA? Any transfer fee charged on Schwab side? Thinking of doing this to avoid $50 Schwab fee since e trade won’t reimburse me.
Keep trying with etrade, they should reimburse, unless you're getting a crazy bonus, in which case $50 might be cheap.
need403bhelp
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by need403bhelp »

nalor511 wrote: Mon Jul 25, 2022 4:36 pm
need403bhelp wrote: Mon Jul 25, 2022 4:21 pm Anyone recently done an account transfer from Schwab to TDA? Any transfer fee charged on Schwab side? Thinking of doing this to avoid $50 Schwab fee since e trade won’t reimburse me.
Keep trying with etrade, they should reimburse, unless you're getting a crazy bonus, in which case $50 might be cheap.
It’s only $100k being transferred, but others up thread have also mentioned not getting reimbursed. And I already have a tda Roth IRA with $5 remaining from prior ME bonus as TDA really doesn’t charge for partial transfers.

EDITED TO ADD: the questions towards bottom of this page https://welcome.schwab.com/?aff=WKV explicitly state no fee to transfer TDA to Schwab. Nothing about other direction although someone previously in this thread said no transfer fee full transfer Schwab to TDA.

ALSO EDITED TO ADD: this is for an IRA account.
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

need403bhelp wrote: Mon Jul 25, 2022 4:21 pm Anyone recently done an account transfer from Schwab to TDA? Any transfer fee charged on Schwab side? Thinking of doing this to avoid $50 Schwab fee since e trade won’t reimburse me.
Responded to your PM, but there shouldn't be any fees from Schwab to TDA, or vice versa. I've done several cash accounts and IRAs between the two, most recently in May.
need403bhelp
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by need403bhelp »

pre wrote: Mon Jul 25, 2022 6:25 pm
need403bhelp wrote: Mon Jul 25, 2022 4:21 pm Anyone recently done an account transfer from Schwab to TDA? Any transfer fee charged on Schwab side? Thinking of doing this to avoid $50 Schwab fee since e trade won’t reimburse me.
Responded to your PM, but there shouldn't be any fees from Schwab to TDA, or vice versa. I've done several cash accounts and IRAs between the two, most recently in May.
Thanks again! Looks like another E*TRADE rep that had emailed me may try to get a $50 waiver. If not, I'll probably just do Schwab -> TDA. Although maybe it makes sense to do TDA -> Schwab and close out my $5 Roth IRA at TDA if there really are no fees, then have E*Trade pull everything from Schwab.
need403bhelp
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by need403bhelp »

need403bhelp wrote: Sat Jul 23, 2022 3:52 pm If have $100k in Roth IRA and already done TD Ameritrade, Schwab, and Merrill Edge offers, what is next best offer?

So far I see:

E trade $500 6 month holding period
Interactive brokers $1k in IBKR stock 12 month holding period
CITI wealth management $500 (for $50k) 3 month holding period, must apply over phone

Any others or suggestions based on these?

EDITED TO ADD: funds currently at Schwab so will want receiving brokerage to reimburse account closure fee

EDITED TO ADD 2: DW will be following me with same amount in Roth IRA in few months so I suppose if we are able to refer each other could get extra financial incentive (IBKR I think gives $200? E trade I believe referral only for non retirement?)
Just to update it looks like interactive brokers excludes "tax-advantaged accounts" for above offer and E trade seems to actually have 12 month holding period despite promotion terms on website clearly stating six months.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Saw that, yes the fine print for E*trade reads 12 mo.
bbrock
need403bhelp
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by need403bhelp »

bbrock wrote: Tue Jul 26, 2022 2:32 pm Saw that, yes the fine print for E*trade reads 12 mo.
Offer I used still reads six months:

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

But upon enrollment given terms that said twelve
Swimmer
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Transfer bonus

Post by Swimmer »

[Thread merged into here --admin LadyGeek]

I’ve read numerous posts wrt a transfer bonus but want to be sure I have the most current info before I pull the trigger.

I want to move a $1.2 mm Roth account out of VG. I’ve spoken with Schwab who tell me they’ll match any offer or give me $2500 bonus transfer as well as waive fees on my VG funds which will be transferred in kind.

Does this offer sound good? I have a call in to Fidelity. Are there other brokerages I should try?

Thanks for any insights. If not for Bogleheads I wouldn’t have known a transfer bonus was a thing. :D

In a related matter, I’m holding VTSAX. I asked whether I should convert to VTI and they said it’s not necessary. Thoughts?

Thanks so much!
student
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Re: Transfer bonus

Post by student »

I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
nalor511
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Re: Transfer bonus

Post by nalor511 »

Swimmer wrote: Sat Jul 30, 2022 2:00 pm I’ve read numerous posts wrt a transfer bonus but want to be sure I have the most current info before I pull the trigger.

I want to move a $1.2 mm Roth account out of VG. I’ve spoken with Schwab who tell me they’ll match any offer or give me $2500 bonus transfer as well as waive fees on my VG funds which will be transferred in kind.

Does this offer sound good? I have a call in to Fidelity. Are there other brokerages I should try?

Thanks for any insights. If not for Bogleheads I wouldn’t have known a transfer bonus was a thing. :D

In a related matter, I’m holding VTSAX. I asked whether I should convert to VTI and they said it’s not necessary. Thoughts?

Thanks so much!
Do yourself a favor and convert to ETF first. I didn't and regretted it.
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Re: Transfer bonus

Post by sycamore »

Schwab might waive their mutual fund transaction fee (like for VTSAX and other Vanguard funds) if you transfer in enough assets. Ask them if they're willing to do that. It worked for me last year, but various reports indicate they may not include the fee waiver so much anymore.

If you can get it waived, you could just stick with the mutual fund format, if that's your preference.
nalor511
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Re: Transfer bonus

Post by nalor511 »

sycamore wrote: Sat Jul 30, 2022 4:08 pm Schwab might waive their mutual fund transaction fee (like for VTSAX and other Vanguard funds) if you transfer in enough assets. Ask them if they're willing to do that. It worked for me last year, but various reports indicate they may not include the fee waiver so much anymore.

If you can get it waived, you could just stick with the mutual fund format, if that's your preference.
They waived mine, and it was still far interior to ETFs@Schwab or MFs@VG - as someone who didn't and regretted it, recommend converting first.
02nz
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Re: Transfer bonus

Post by 02nz »

student wrote: Sat Jul 30, 2022 2:22 pm I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
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pre
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by pre »

need403bhelp wrote: Mon Jul 25, 2022 4:40 pm
nalor511 wrote: Mon Jul 25, 2022 4:36 pm
need403bhelp wrote: Mon Jul 25, 2022 4:21 pm Anyone recently done an account transfer from Schwab to TDA? Any transfer fee charged on Schwab side? Thinking of doing this to avoid $50 Schwab fee since e trade won’t reimburse me.
Keep trying with etrade, they should reimburse, unless you're getting a crazy bonus, in which case $50 might be cheap.
It’s only $100k being transferred, but others up thread have also mentioned not getting reimbursed. And I already have a tda Roth IRA with $5 remaining from prior ME bonus as TDA really doesn’t charge for partial transfers.
I recently transferred over an IRA. Had no problem getting the Schwab $50 fee reimbursed, only caveat being the credit had to be into my taxable account, not the IRA

Called once right before the transfer, then again after completing. Neither rep put up any resistance.

I was intending on a secure message with a Schwab history/transaction log, but Etrade's SM system seems to have eliminated the ability for attachments
need403bhelp
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by need403bhelp »

pre wrote: Sat Jul 30, 2022 9:56 pm
need403bhelp wrote: Mon Jul 25, 2022 4:40 pm
nalor511 wrote: Mon Jul 25, 2022 4:36 pm
need403bhelp wrote: Mon Jul 25, 2022 4:21 pm Anyone recently done an account transfer from Schwab to TDA? Any transfer fee charged on Schwab side? Thinking of doing this to avoid $50 Schwab fee since e trade won’t reimburse me.
Keep trying with etrade, they should reimburse, unless you're getting a crazy bonus, in which case $50 might be cheap.
It’s only $100k being transferred, but others up thread have also mentioned not getting reimbursed. And I already have a tda Roth IRA with $5 remaining from prior ME bonus as TDA really doesn’t charge for partial transfers.
I recently transferred over an IRA. Had no problem getting the Schwab $50 fee reimbursed, only caveat being the credit had to be into my taxable account, not the IRA

Called once right before the transfer, then again after completing. Neither rep put up any resistance.

I was intending on a secure message with a Schwab history/transaction log, but Etrade's SM system seems to have eliminated the ability for attachments
I see, thank you for sharing. I have been communicating with a local rep, so maybe I should try calling. With that said, when I had asked Twitter support they also specifically stated they don’t reimburse the Schwab $50 fee.
Swimmer
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Re: Transfer bonus

Post by Swimmer »

Thank you all for your advice! I’ll convert VTSAX to VTI before moving it.

One other question: my only other fund is Balanced Index Admiral for which there is no corresponding ETF. What would you suggest I do with it?

Thanks again.
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Re: Transfer bonus

Post by indexfundfan »

Swimmer wrote: Sun Jul 31, 2022 2:12 pm Thank you all for your advice! I’ll convert VTSAX to VTI before moving it.

One other question: my only other fund is Balanced Index Admiral for which there is no corresponding ETF. What would you suggest I do with it?

Thanks again.
You can sell the mutual fund and buy the ETF equivalents, roughly 60% VTI and 40% BND. Since this is an IRA, there won't be any tax consequences.
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UncleLeo
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Re: Transfer bonus

Post by UncleLeo »

I've read that $4k bonuses appear from time to time. How frequent are those and which brokers usually offer them (for transferring $1 mm and above)?
Also, am I obligated to keep the funds for a certain period of time to be eligible for the bonus? (possible scenario: downpayment for a house)
nalor511
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Re: Transfer bonus

Post by nalor511 »

UncleLeo wrote: Sun Jul 31, 2022 10:31 pm I've read that $4k bonuses appear from time to time. How frequent are those and which brokers usually offer them (for transferring $1 mm and above)?
Also, am I obligated to keep the funds for a certain period of time to be eligible for the bonus? (possible scenario: downpayment for a house)
E-Trade. 12mo.
Swimmer
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Re: Transfer bonus

Post by Swimmer »

Thanks, everyone, for your responses.

VG made significant errors wrt my late husband’s accounts. So much so that I am reluctant to ask them to do the MF—ETF conversion. I much prefer to transact myself online.

I’m thinking of selling the MF shares and then buying the ETF shares the next day. Keeping in mind this is within an IRA, is there any reason not to do this?

I confess I feel nervous moving this much money around.

Thanks again.
tj
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Re: Transfer bonus

Post by tj »

02nz wrote: Sat Jul 30, 2022 4:39 pm
student wrote: Sat Jul 30, 2022 2:22 pm I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

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

Post by anon_investor »

Swimmer wrote: Mon Aug 01, 2022 10:03 am Thanks, everyone, for your responses.

VG made significant errors wrt my late husband’s accounts. So much so that I am reluctant to ask them to do the MF—ETF conversion. I much prefer to transact myself online.

I’m thinking of selling the MF shares and then buying the ETF shares the next day. Keeping in mind this is within an IRA, is there any reason not to do this?

I confess I feel nervous moving this much money around.

Thanks again.
If it is an IRA, there are no cost basis concerns, I would just try the MF-ETF conversion. You can sell the the MF and buy ETF shares the next day, but you will be out of the market overnight, do the ETF could gain/lose at open, so you could be impacted by a large price movement up or down in the morning.
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Re: Transfer bonus

Post by 02nz »

tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm
student wrote: Sat Jul 30, 2022 2:22 pm I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Yes I've seen (I think even used) that offer, but I believe it's IRAs only, as the URL suggests. A rep can get you the same offer but across multiple accounts, incl. taxable (bonus is proportionally allocated across different accounts, based on amount transferred in).
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Just got off the phone with my local E*TRADE rep. Called the 800 number first and was told that the local financial consultant may provide a more lucrative offer. Spoke with my local rep, told him my situation, told him I was not interested in being upsold of any kind, he got back to me and they will offer $4K if I hold for 12 months. I asked at the time I close or transfer out the account, what is the fee, and he stated there’s a $75 account closure fee. I will try to get that waived at that time and/or paid by the next vendor such as Schwab or Fidelity.

1) Has anyone had success with having Schwab or Fidelity pay/reimburse for the sending institution’s transfer fee?

2) Has anyone had success with having E*TRADE waive the account closure/transfer fee?
bbrock
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

bbrock wrote: Mon Aug 01, 2022 3:33 pm Just got off the phone with my local E*TRADE rep. Called the 800 number first and was told that the local financial consultant may provide a more lucrative offer. Spoke with my local rep, told him my situation, told him I was not interested in being upsold of any kind, he got back to me and they will offer $4K if I hold for 12 months. I asked at the time I close or transfer out the account, what is the fee, and he stated there’s a $75 account closure fee. I will try to get that waived at that time and/or paid by the next vendor such as Schwab or Fidelity.

1) Has anyone had success with having Schwab or Fidelity pay/reimburse for the sending institution’s transfer fee?

2) Has anyone had success with having E*TRADE waive the account closure/transfer fee?
There's no way you are going to get a waiver on your way out
student
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by student »

bbrock wrote: Mon Aug 01, 2022 3:33 pm Just got off the phone with my local E*TRADE rep. Called the 800 number first and was told that the local financial consultant may provide a more lucrative offer. Spoke with my local rep, told him my situation, told him I was not interested in being upsold of any kind, he got back to me and they will offer $4K if I hold for 12 months. I asked at the time I close or transfer out the account, what is the fee, and he stated there’s a $75 account closure fee. I will try to get that waived at that time and/or paid by the next vendor such as Schwab or Fidelity.

1) Has anyone had success with having Schwab or Fidelity pay/reimburse for the sending institution’s transfer fee?

2) Has anyone had success with having E*TRADE waive the account closure/transfer fee?
I don't think E*trade will waive the fee. Both Schwab and Merrill Edge have reimbursed such a fee when I transferred to them.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Yeah, I was thinking the same that companies generally don’t waive outbound transfers.

Thx Student for sharing.

By the way, does Vanguard charge for outbound transfers? I would hope not.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by indexfundfan »

bbrock wrote: Mon Aug 01, 2022 4:01 pm Yeah, I was thinking the same that companies generally don’t waive outbound transfers.

Thx Student for sharing.

By the way, does Vanguard charge for outbound transfers? I would hope not.
Vanguard does not charge fees for outgoing transfers, but neither does it reimburse you the fees for incoming transfers.
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bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Thx indexfundfan.
bbrock
Swimmer
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Re: Transfer bonus

Post by Swimmer »

02nz wrote: Mon Aug 01, 2022 10:44 am
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm
student wrote: Sat Jul 30, 2022 2:22 pm I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Yes I've seen (I think even used) that offer, but I believe it's IRAs only, as the URL suggests. A rep can get you the same offer but across multiple accounts, incl. taxable (bonus is proportionally allocated across different accounts, based on amount transferred in).

Many thanks for the link. Schwab indicates they will match it. :sharebeer
placeholder
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

An account closure fee can usually be avoided by leaving some cash in the account then later withdrawing that to your back account but that works best with a non ira account.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Got it placeholder. How much though are we talking about having to be left at E*TRADE? Yes it would be a taxable brokerage account.
bbrock
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

bbrock wrote: Tue Aug 02, 2022 5:39 pm Got it placeholder. How much though are we talking about having to be left at E*TRADE? Yes it would be a taxable brokerage account.
I can't give you a definitive answer but etrade's site states that there is no account minimum and here is some fee information from their website:

Account transfers (outgoing)
$25* for partial transfers
$75 for full transfers

*Following a partial transfer, customers with a remaining account balance of greater than $5,000 will not be charged the partial transfer fee.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Got it. Thanks placeholder
bbrock
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Re: Transfer bonus

Post by UncleLeo »

tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm
student wrote: Sat Jul 30, 2022 2:22 pm I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
Freefun
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Re: Transfer bonus

Post by Freefun »

UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm
student wrote: Sat Jul 30, 2022 2:22 pm I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
Yes.

I did a transfer this year and was given the bonus based on all my accounts in addition to free waivers (VG funds).
Remember when you wanted what you currently have?
tj
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Re: Transfer bonus

Post by tj »

Freefun wrote: Tue Aug 02, 2022 6:56 pm
UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm
student wrote: Sat Jul 30, 2022 2:22 pm I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
Yes.

I did a transfer this year and was given the bonus based on all my accounts in addition to free waivers (VG funds).
E trade gave you waivers? Doesn't etrade already have vanguard on a no fee list for everyone?
Freefun
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Re: Transfer bonus

Post by Freefun »

Sorry. It was Schwab (matching E*Trade promo).
Remember when you wanted what you currently have?
UpperNwGuy
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Re: Transfer bonus

Post by UpperNwGuy »

First convert from VTSAX to VTI, then do the transfer. This really is the easiest way.
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Re: Transfer bonus

Post by whodidntante »

sycamore wrote: Sat Jul 30, 2022 4:08 pm Schwab might waive their mutual fund transaction fee (like for VTSAX and other Vanguard funds) if you transfer in enough assets. Ask them if they're willing to do that. It worked for me last year, but various reports indicate they may not include the fee waiver so much anymore.

If you can get it waived, you could just stick with the mutual fund format, if that's your preference.
You need 250k to get a fee waiver for a single fund family. I don't think there are luck requirements. It's a shame, really. I love a good gamble.
tj
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Re: Transfer bonus

Post by tj »

whodidntante wrote: Tue Aug 02, 2022 8:54 pm
sycamore wrote: Sat Jul 30, 2022 4:08 pm Schwab might waive their mutual fund transaction fee (like for VTSAX and other Vanguard funds) if you transfer in enough assets. Ask them if they're willing to do that. It worked for me last year, but various reports indicate they may not include the fee waiver so much anymore.

If you can get it waived, you could just stick with the mutual fund format, if that's your preference.
You need 250k to get a fee waiver for a single fund family. I don't think there are luck requirements. It's a shame, really. I love a good gamble.
Others have reported they were told you need $1M.
nalor511
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Re: Transfer bonus

Post by nalor511 »

tj wrote: Tue Aug 02, 2022 9:07 pm
whodidntante wrote: Tue Aug 02, 2022 8:54 pm
sycamore wrote: Sat Jul 30, 2022 4:08 pm Schwab might waive their mutual fund transaction fee (like for VTSAX and other Vanguard funds) if you transfer in enough assets. Ask them if they're willing to do that. It worked for me last year, but various reports indicate they may not include the fee waiver so much anymore.

If you can get it waived, you could just stick with the mutual fund format, if that's your preference.
You need 250k to get a fee waiver for a single fund family. I don't think there are luck requirements. It's a shame, really. I love a good gamble.
Others have reported they were told you need $1M.
I have the fee waiver, it's at your rep's discretion, and I have significantly less than 1mil. Wish I'd converted to ETF first. VG MF at Schwab are clunky
Swimmer
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Re: Transfer bonus

Post by Swimmer »

OP again. I just want to thank all of you. I did the ETFconversions. I’m moving forward with transfer to Schwab. They matched E*Trade $3500 offer and waived all fees on VG funds. I wouldn’t have even known about the bonuses without you Bogleheads. Amazing!
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Re: Transfer bonus

Post by chemocean »

Would the transfer bonus for $1 million transfer apply to the total balance a couple with each having a Traditional and Roth IRAs and a taxable joint account? Or it it for an individual?
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by LadyGeek »

I merged Swimmer's thread into the ongoing discussion.

(Thanks to the member who reported the post and provided a link to this thread.)
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Re: Transfer bonus

Post by bbrock »

UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm
student wrote: Sat Jul 30, 2022 2:22 pm I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
I called the 800 number. They told me my local financial consultant at E*Trade could offer me better deals. Spoke with local rep and in fact a better deal. $4000 for bringing in 1 mil to 1.99 = $4k bonus.
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Re: Transfer bonus

Post by whodidntante »

UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm
student wrote: Sat Jul 30, 2022 2:22 pm I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
I conducted a highly similar experiment in the name of science and posted the results to this very thread. Since no Turing-test-passing intelligence should be subjected to trying to locate things using the terrible forum software here, I'll reach back into my mental search index and save you some effort. The answer is yes, or at least, it was yes for me. Good luck.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bbrock »

Local E*Trade rep offered more
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Re: Transfer bonus

Post by UncleLeo »

whodidntante wrote: Thu Aug 04, 2022 11:23 pm
UncleLeo wrote: Tue Aug 02, 2022 6:50 pm
tj wrote: Mon Aug 01, 2022 10:05 am
02nz wrote: Sat Jul 30, 2022 4:39 pm
student wrote: Sat Jul 30, 2022 2:22 pm I think $2,500 is about standard. Etrade has the same promotion. https://us.etrade.com/what-we-offer/how-it-works/promo

Personally I would convert it to VTI as it makes it more "portable."
Call E*Trade, by phone you can typically get a better offer than the one on the website.

Agree re: converting to ETF first.
No need to call, just click the better link:

https://us.etrade.com/what-we-offer/how ... ra-cfc3500
Can the $1 mm threshold include Roth IRA accounts? For example, if I have a brokerage account and 2 roth IRA accounts with Vanguard that in total exceed $1 mm, but each is lower than that threshold would I be able to get the bonus if I transfer all accounts to the broker offering the bonus?
I conducted a highly similar experiment in the name of science and posted the results to this very thread. Since no Turing-test-passing intelligence should be subjected to trying to locate things using the terrible forum software here, I'll reach back into my mental search index and save you some effort. The answer is yes, or at least, it was yes for me. Good luck.
Thanks. Now I wonder if the transfer even has to be from the same brokerage. In other words, if I move 500k from Vanguard and another 500k from Fidelity to Etrade/Schwab within a certain time frame, would that count?
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