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Old Jul 9, 11, 9:22 am   #1
 
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Current bonus offers for 401K/IRA rollover

I searched and only found a really old thread without any useful responses and a couple of other threads that were not really the same question, so I thought starting a new thread was the best option, since this seems like a topic that may be of interest to others as well.

I am planning to rollover my 401K from a former employer to a rollover (traditional) IRA and was wondering what bonus offers (cash, miles, other) are available. I'm not going to make my decision solely based on the bonus, but the bonus would be a factor if there were two or more companies that basically met my needs in a similar manner. I currently have accounts with Fidelity (non-retirement, Roth IRA, and current employer 401K) and probably will open a TD Ameritrade non-retirement account for SPG points. I'm not an active trader and prefer a brokerage firm with a good selection of mutual funds and/or ETFs available for purchase online with low or no fees. I would likely buy and hold a few different funds, so I am not interested in a bonus that provides a lot of free or discounted stock trades.

I am aware of the current cash bonus offers that TD Ameritrade and e-Trade have for opening a new retirement account/rollover IRA:
1) TD Ameritrade details: http://www.tdameritrade.com/planning...aaccounts.html
2) e-Trade: I couldn't find the details of the e-Trade offer on their website but did an on-line chat with a representative who confirmed similar tiers/bonus amounts as TD Ameritrade, at least for $100K+ invested) and also found more detail on another website (don't know it or if it is reliable): http://bankvibe.com/etrade-ira-bonus-up-to-500-cash/

Any other options out there? Any experiences with specific offers?

Thanks!

Last edited by Spiff; Feb 20, 14 at 7:15 pm. Reason: Correct typo and update links
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Old Jul 9, 11, 10:03 am   #2
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the old threads included info stating that incentives for creating/rolling over iras & 401ks are prohibited by law....are you sure your sources above are offering bonuses for these?....tia...
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Last edited by clacko; Jul 9, 11 at 10:09 am.
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Old Jul 9, 11, 11:19 am   #3
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Quote:
Originally Posted by clacko View Post
the old threads included info stating that incentives for creating/rolling over iras & 401ks are prohibited by law....are you sure your sources above are offering bonuses for these?....tia...
I got a cash bonus several months ago for transferring from Fidelity over to TDAmeritrade, similar to the current posted offer. No problems.

Here's the TD Link as of today - the link above didn't work.

Last edited by Spiff; Feb 20, 14 at 7:16 pm.
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Old Jul 9, 11, 11:48 am   #4
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Originally Posted by CPRich View Post
I got a cash bonus several months ago for transferring from Fidelity over to TDAmeritrade, similar to the current posted offer. No problems.

Here's the TD Link as of today - the link above didn't work.
was this only ira/401k, or did it include other assets?.....i can understand incentives for moving investment accounts & that the ira might be also moved....

my ? is, if i have 75k in stocks & 50k in an ira, and the incentive is for 100k, will i get the incentive....if i move 100k or more + an ira, i could be rewarded w/o counting the ira....

thanks for the link....i'll call them...
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Last edited by Spiff; Feb 20, 14 at 7:16 pm.
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Old Jul 10, 11, 9:07 pm   #5
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You probably need to call. I had transfers of both types and you can only earn one bonus per calendar year, iirc, and I don't remember to which it was credited.

I think it is by account, so your 75K plus 50K would, I expect, only earn one $100 bonus for the 50K-100K tier. But 100K in one type would be better - $250.
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Old Jul 11, 11, 4:36 pm   #6
 
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interesting. I transfered assets out of my fidelity brokerage into TD Ameritrade for the SPG bonus. Got the 10K SPG points pretty quickly and will get the 2nd 10K I'm told after 6 months (although I thought fine print said 9 months?). I never thought of rolling over my 401K as well to take advantage of promotions. Great idea!

That said I do love Fidelity. Lower trading costs and better trading platform IMHO. I dislike Schwab a lot and have yet to really toy with TD's platform.
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Old Jul 11, 11, 4:47 pm   #7
 
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One idea - take 50K IRA to Citi and open a Citigold Checking for 23k plus AA with the IRA as the qualifying balance to avoid fees.

Quote:
Originally Posted by shanshan View Post
interesting. I transfered assets out of my fidelity brokerage into TD Ameritrade for the SPG bonus. Got the 10K SPG points pretty quickly and will get the 2nd 10K I'm told after 6 months (although I thought fine print said 9 months?). I never thought of rolling over my 401K as well to take advantage of promotions. Great idea!

That said I do love Fidelity. Lower trading costs and better trading platform IMHO. I dislike Schwab a lot and have yet to really toy with TD's platform.
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Old Jul 11, 11, 5:30 pm   #8
 
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Thanks everyone for the feedback

Quote:
Originally Posted by clacko View Post
my ? is, if i have 75k in stocks & 50k in an ira, and the incentive is for 100k, will i get the incentive....if i move 100k or more + an ira, i could be rewarded w/o counting the ira....
Quote:
Originally Posted by CPRich View Post
I think it is by account, so your 75K plus 50K would, I expect, only earn one $100 bonus for the 50K-100K tier. But 100K in one type would be better - $250.
If your 75K in stocks is non-retirement funds, I doubt that they would count those assets together with the 50K IRA in awarding bonuses; I think all banks and brokerage firms have to maintain very clear separation between retirement and non-retirement accounts. Nevertheless, it can't hurt to ask.

Quote:
Originally Posted by shanshan View Post
interesting. I transfered assets out of my fidelity brokerage into TD Ameritrade for the SPG bonus. Got the 10K SPG points pretty quickly and will get the 2nd 10K I'm told after 6 months (although I thought fine print said 9 months?). I never thought of rolling over my 401K as well to take advantage of promotions. Great idea!

That said I do love Fidelity. Lower trading costs and better trading platform IMHO. I dislike Schwab a lot and have yet to really toy with TD's platform.
Thanks for your thoughts on TD Ameritrade v Fido v Schwab. I have never dealt with Schwab and they don't seem to be offering any bonuses. I've basically been satisfied with Fido over the years, but I'm impressed by how proactive TD Ameritrade has been since I called them a few weeks ago about the SPG offer.

Quote:
Originally Posted by AlohaDaveKennedy View Post
One idea - take 50K IRA to Citi and open a Citigold Checking for 23k plus AA with the IRA as the qualifying balance to avoid fees.
Is the 23K AA miles one of the CB bonuses for a banking account? If so, are people getting 1099s for these? I'm wary of CB banking offers with AA miles bonuses since I got a 1099 last year on a CB USA bonus(10K miles at 2.5 cpm).

I already have Citigold checking and actually am in the process of moving a smaller former employer retirement account there to meet the 50K CG minimum. From the preliminary discussions I have had with the Citi Personal Wealth Management investment advisor who opened my IRA, it seems like Citi's fees are high compared to Fido (not really surprising). It won't matter too much to me b/c I plan to just pick one or two mutual funds or ETFs and hold them, but this might be something worth considering for a more active investor.
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Old Jul 11, 11, 7:46 pm   #9
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I'd echo the advice above - pick an investment partner you're comfortable with. A few hundred bucks or thousand points aren't worth the hassle of learning all the new tools, navigation, etc. I held on to Fidelity as long as I could, transferring a couple of weeks before regulatory/independence restrictions and sanctions kicked in.

TD seems to be on par, and recent ratings agree that they've pulled equal to the Fidelity long-time leader. But learning the new tools is a pain. I'm fortunate to have one F account that I'm allowed to keep that continues access to all the analysis tools.
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Old Jul 12, 11, 12:13 am   #10
 
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what regulatory/independence restrictions and sanctions?
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Old Jul 12, 11, 11:01 pm   #11
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Quote:
Originally Posted by AlohaDaveKennedy View Post
One idea - take 50K IRA to Citi and open a Citigold Checking for 23k plus AA with the IRA as the qualifying balance to avoid fees.
Can you explain this a little more? Thanks.
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Old Jul 13, 11, 7:12 am   #12
 
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Can you explain this a little more? Thanks.
I'm fairly sure he is referring to this offer:
http://www.flyertalk.com/forum/miles...g-account.html
To open a citigold account for 30k aa miles. To avoid the monthly fees you need a certain amount in linked accounts - those accounts could include the IRA (based on his comments), I believe it also includes home loans and maybe also credit card spend.
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Old Oct 14, 11, 12:24 am   #13
 
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Quote:
Originally Posted by clacko View Post
the old threads included info stating that incentives for creating/rolling over iras & 401ks are prohibited by law....are you sure your sources above are offering bonuses for these?....tia...
Just did a google search and for up to $600 from Schwab for IRA, so this must not be illegal. http://content.schwab.com/web/retail...ira_promotion/
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Old Jan 19, 12, 9:05 am   #14
 
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IRA bonus

I'm looking at the bonus offers and everything I'm seeing doesn't allow opening a retirement account. Does anyone know of a financial firm that gives a bonus for opening an IRA or other tax exempt instrument?
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Old Jan 19, 12, 9:09 am   #15
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Merrill Edge: Up to $500 added to your account

Not travel-related but:

http://www.merrilledge.com/m/pages/iraoffer.aspx


Quote:
To qualify for this cash offer, you must open a Merrill EdgeTM Self-directed or Merrill Edge Advisory CenterTM Traditional, Roth, Rollover or sole-proprietor SEP Individual Retirement Account ("IRA") and fund the account within 30 calendar days of account opening from sources outside Merrill Lynch and Bank of America. Assets held in Merrill Lynch administered 401k plans are excluded from this offer. The balance must be held in the account for a minimum of 90 consecutive days following the funding date. The cash reward will be paid out as follows: for funding assets of $10,000 to $24,999 in cash and/or securities, receive $50; for $25,000-$99,999, receive $100; for $100,000-$199,999, receive $250; for $200,000 or more, receive $500. The reward will be paid during the calendar month after which the 90-day funding criteria are met; only one bonus per account. Merrill Edge reserves the right to change or cancel this offer at any time. Merrill Edge does not provide legal or tax advice.

Last edited by Spiff; Feb 20, 14 at 7:17 pm. Reason: Paste in terms.
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