$125 to $6,000 for Current Clients — My Cash Weblog

E-Commerce is providing an elevated switch supply for present E-Commerce clients of as much as $6,000 for transferring in new belongings. This particular supply solely applies to non-retirement accounts. You could enroll within the supply first after logging into your E-Commerce account, after which fund inside 60 days. These tiers are presently higher than their supply for brand new clients.

Current E-Commerce clients (non-retirement taxable accounts solely)

  • $125 bonus with $5,000 to $24,999 in new belongings
  • $250 bonus with $25,000 to $99,999 in new belongings
  • $625 bonus with $100,000 to $199,999 in new belongings
  • $1,000 bonus with $200,000 to $499,999 in new belongings
  • $2,000 bonus with $500,000 to $999,999 in new belongings
  • $4,500 bonus with $1,000,000 to $1,999,999 in new belongings
  • $6,000 bonus with $2,000,000+ in new belongings

These are comparatively good percentages for a extra established dealer. (Morgan Stanley purchased E*Commerce in 2020, and is within the Prime 10 for belongings below administration.) Importantly, I don’t see any minimal maintain interval past holding the belongings there by way of the top of the 60-day qualification interval after enrollment.

General Brokerage Switch Suggestions

  • Many brokers will cost an “Outgoing ACAT payment” of $50 to $100 once you depart them. (Notably, Constancy and Vanguard don’t. Schwab permits free partial transfers.) I like to recommend contacting your vacation spot dealer and asking them to reimburse you for this payment, on high of any bonuses. When you qualify for one in every of these bonuses, your account might be sufficiently big for them to think about it. The worst they will say isn’t any. You will have to ship them a press release displaying the payment.
  • Earlier than shifting, I’d obtain all of your outdated statements and tax value foundation data to ensure it transfers over accurately.
  • An ACAT switch can take per week or so to finish, so that you gained’t be capable of make any promote transactions throughout that point. So long as you do an in-kind switch, you’ll simply hold the identical shares of the identical securities as earlier than.
  • Think about performing a “partial” ACAT switch the place you solely transfer over particularly designated shares (ex. solely all 455 shares of BRKB) in case you want to hold a few of your unique brokerage account open. I’d personally switch over all shares of any particular ticker, in order that the tax value foundation carries over neatly.
  • Evaluate bonuses throughout totally different brokers. Look fastidiously on the tiers, there could also be a candy spot the place the odds are higher.

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