![[original_title]](https://rawnews.com/wp-content/uploads/2024/09/The-Final-Definitive-Thread-on-Brokerage-Transfer-Bonuses-Page.jpg)
Focus on all normal (i.e. non-personal) investing questions and points, investing information, and principle.
- Posts: 601
- Joined: Thu Could 25, 2017 11:34 am
- Contact:
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
RandomGuyOnInternet wrote: ↑Wed Sep 04, 2024 5:52 pm
Additionally, does anybody have expertise with the Wells Fargo switch bonus? A couple of questions:– Did you run into any surprising charges?
— Buy charges for ETFs?
— Account termination charges at earlier brokerage?
— Checking account charges?– How lengthy did the switch take? How lengthy was your cash “out of the market”?
Additionally, I spotted that the $2500 bonus is taxable in order that rapidly turns into an $1800 bonus.
Thanks
RandomGuy
The way in which to do any of those bonuses is switch property by way of “switch in sort”, which means that your investments are by no means out of the market and since you are not shopping for/promoting there are not any cap beneficial properties taxes to take care of. What makes this attention-grabbing is that you just’d merely switch “in-kind” from dealer A to B to C to D and gather bonuses alongside every cease.
I am unable to communicate to this particular WF deal, however I am planning on doing it myself (and partner) for $5k – taxes as you notice.
However transferring “in-kind” would keep away from nearly the entire issues you are involved about.
I weblog right here: https://www.frugalprofessor.com/
- Posts: 72
- Joined: Fri Nov 13, 2020 7:47 pm
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
FrugalProfessor wrote: ↑Wed Sep 04, 2024 10:20 pmRandomGuyOnInternet wrote: ↑Wed Sep 04, 2024 5:52 pm
Additionally, does anybody have expertise with the Wells Fargo switch bonus? A couple of questions:– Did you run into any surprising charges?
— Buy charges for ETFs?
— Account termination charges at earlier brokerage?
— Checking account charges?– How lengthy did the switch take? How lengthy was your cash “out of the market”?
Additionally, I spotted that the $2500 bonus is taxable in order that rapidly turns into an $1800 bonus.
Thanks
RandomGuyThe way in which to do any of those bonuses is switch property by way of “switch in sort”, which means that your investments are by no means out of the market and since you are not shopping for/promoting there are not any cap beneficial properties taxes to take care of. What makes this attention-grabbing is that you just’d merely switch “in-kind” from dealer A to B to C to D and gather bonuses alongside every cease.
I am unable to communicate to this particular WF deal, however I am planning on doing it myself (and partner) for $5k – taxes as you notice.
However transferring “in-kind” would keep away from nearly the entire issues you are involved about.
Good level on the switch in sort. I maintain Vanguard Admiral shares so I’ll must convert to the ETFs to do a switch in sort.
RandomGuy
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
RandomGuyOnInternet wrote: ↑Wed Sep 04, 2024 10:47 pmFrugalProfessor wrote: ↑Wed Sep 04, 2024 10:20 pmRandomGuyOnInternet wrote: ↑Wed Sep 04, 2024 5:52 pm
Additionally, does anybody have expertise with the Wells Fargo switch bonus? A couple of questions:– Did you run into any surprising charges?
— Buy charges for ETFs?
— Account termination charges at earlier brokerage?
— Checking account charges?– How lengthy did the switch take? How lengthy was your cash “out of the market”?
Additionally, I spotted that the $2500 bonus is taxable in order that rapidly turns into an $1800 bonus.
Thanks
RandomGuyThe way in which to do any of those bonuses is switch property by way of “switch in sort”, which means that your investments are by no means out of the market and since you are not shopping for/promoting there are not any cap beneficial properties taxes to take care of. What makes this attention-grabbing is that you just’d merely switch “in-kind” from dealer A to B to C to D and gather bonuses alongside every cease.
I am unable to communicate to this particular WF deal, however I am planning on doing it myself (and partner) for $5k – taxes as you notice.
However transferring “in-kind” would keep away from nearly the entire issues you are involved about.
Good level on the switch in sort. I maintain Vanguard Admiral shares so I’ll must convert to the ETFs to do a switch in sort.
RandomGuy
You presumably might switch the mutual funds, however ETF’s are actually extra moveable and extra seemingly to have the ability to be traded without spending a dime wherever you find yourself.
