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globalmethod said:   I have done this type of brokerage transfer about every 2 years for some time to get an optimized cost structure. My last broker prior to Fidelity was TradeMonster whose platform I liked but their year end tax information was a mess for both of my years with them. (my accountant threatened to charge more next year if it stayed screwed up) I moved to Fidelity and got a deal which I really have enjoyed. Essentially, I got their top trading platform (active trader pro) and commission free trading for 1 year along with enough travel miles to take a really nice vacation. (I had to bring over $300,000.00 for this) However, I am not happy with their margin rates (margin is now part of my trading strategy)so I am looking again and may consider TradeMonster again, since I read they have cleared up their end of year tax processing and their margin rates are among the lowest around (a significant difference). ALWAYS talk to someone in the active trader department to get the best options for you based on what amount you have to invest and how frequently you trade. Don't be in a rush to move as someone in their retention department will likely contact you if they are seriously thinking you will move. With Fidelity I deal with the Active Trader Pro Department and have been treated very well. IF you have new money to add to an existing account you are considering a transfer of, you are in the best position to negotiate. Most brokers will say bring the new money here and we will match what you are being offered. Good Luck.May I ask how many air miles you received for the $300k and was it for 6 months hold? tia

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globalmethod said:   I have done this type of brokerage transfer about every 2 years for some time to get an optimized cost structure. My last broker prior to Fidelity was TradeMonster whose platform I liked but their year end tax information was a mess for both of my years with them. (my accountant threatened to charge more next year if it stayed screwed up) I moved to Fidelity and got a deal which I really have enjoyed. Essentially, I got their top trading platform (active trader pro) and commission free trading for 1 year along with enough travel miles to take a really nice vacation. (I had to bring over $300,000.00 for this) However, I am not happy with their margin rates (margin is now part of my trading strategy)so I am looking again and may consider TradeMonster again, since I read they have cleared up their end of year tax processing and their margin rates are among the lowest around (a significant difference). ALWAYS talk to someone in the active trader department to get the best options for you based on what amount you have to invest and how frequently you trade. Don't be in a rush to move as someone in their retention department will likely contact you if they are seriously thinking you will move. With Fidelity I deal with the Active Trader Pro Department and have been treated very well. IF you have new money to add to an existing account you are considering a transfer of, you are in the best position to negotiate. Most brokers will say bring the new money here and we will match what you are being offered. Good Luck.

How do you know that their end of year tax form has errors? I haven't been in the habit of double checking mine

Also, earlier in this thread, I remember someone saying that when you move accounts over, you have to be careful about them still paying out dividends (if one of your stocks paid dividends). What is the easiest way to double check this?

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Bonus #2. After 90 days transfered my 100k of BRKB out from Merrill Edge to ETrade . Due $750 in total for both promos.
I will need to pick another broker to transfer to in 6 months.

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When transferring to Sharebuilder, has anyone used the option online where you have have to enter every single security that needs to transfer? I notice 2 problems. It doesn't allow decimal quantities of stocks, which is very odd. It also doesn't allow me to enter puts that I've sold. I'll chat with them on Tuesday. Was just wondering if anyone had this experience with them.

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Looks like Schwab took down all their offers.

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Has anyone been able to open a CapitalOne CD or 360 Savings account in a Sharebuilder IRA?

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Many thanks to the professor -- Merrill paid out their bonus at exactly three months of opening, while Ameritrade paid out within a week of account opening. Looking forward to ACATing over to ETrade next!

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A heads up on Sharebuilder. The fine print of the promotion says:
fine print said: The bonus from Capital One ShareBuilder is not available for withdrawal for 180 days after it is awarded to your account. Assets transferred into the account to qualify for this promotion must remain in the account (minus any losses related to trading or market volatility) for at least nine (9) months or your award may be reclaimed by ShareBuilder.

All of these time periods are from the end of the promotion, not from the time you transfer the funds. In my case, I transferred in July but the bonus did not post until Sept. 16. There is a hold on it so I cannot withdraw it, I assume, until Mar. 16, 2014. This will be just in time for me to pay the taxes on it as I think they report it on a 1099MISC.
 

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I entered my mutual funds as close as I could in ShareBuilder. In the end, one stock was transferred completely, while the other was sold out because they didn't offer an equivalent. It all went through in the end.

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monto888 said:   Many thanks to the professor -- Merrill paid out their bonus at exactly three months of opening, while Ameritrade paid out within a week of account opening. Looking forward to ACATing over to ETrade next!
ETrade paid out a week after funding.  Also reimbursed the reimbursement fees from the previous broker

Also just transferred over an IRA to Sharebuilder, and they paid out their bonus at 45 days post-funding.  No transfer fee reimbursement, however

Now looking around for the next promotion -- hopefully early next year

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My latest offer KNOCK600 expires Nov 29 (funded by Dec 31).  However Sharebuilder is still not ACAT.  Not sure if that presents transfer in problems as well as transfer out:
When you submit the transfer form, please let the receiving brokerage know that ShareBuilder is not an ACATS (Automated Customer Account Transfer System) eligible broker and that the transfer will need to be completed manually. In addition, the form must have a Medallion Signature Guarantee.

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The medallion signature guarantee is a pain. I just liquidated my sharebuilder account and did an ACH transfer to my checking account.

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Anyone tries to get $1200 from c1 by opening a new sharebuilder account with $125k deposit for $600 and then $125k deposit later for another $600? If so, it doubles what others offer.

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Bump for this very informative thread. Putting together my tax documents and noticed TD Ameritrade and ETrade reported the bonuses (cash accounts) as 1099-MISC income. Neither Sharebuilder (IRA) nor Merrill Edge (cash) reported the bonuses.

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monto888 said:   Bump for this very informative thread. Putting together my tax documents and noticed TD Ameritrade and ETrade reported the bonuses (cash accounts) as 1099-MISC income. Neither Sharebuilder (IRA) nor Merrill Edge (cash) reported the bonuses.
thanks, this is useful data.  based on what I've tried and read about:
- IRA promos are not reported
- FF mileage is not reported
- cash <$600 is not reported
- giftcards ?
- other gifts (e.g. kindle fire, ipod) ?

did you have anything that fell outside these 'rules'?  anyone have other details?  I do think some places report all cash amounts, even when <$600.
 

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lokimoki said:   My latest offer KNOCK600 expires Nov 29 (funded by Dec 31).  However Sharebuilder is still not ACAT.  Not sure if that presents transfer in problems as well as transfer out:
When you submit the transfer form, please let the receiving brokerage know that ShareBuilder is not an ACATS (Automated Customer Account Transfer System) eligible broker and that the transfer will need to be completed manually. In addition, the form must have a Medallion Signature Guarantee.

  I opened a SB account last year and as I recall the medallion guarantee was only for special cases, maybe where the registration does not match what you're transferring? I also did not like them not being on ACAT, but my transfer from Compushare took 2 days max to be received.

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libralibra said:   
monto888 said:   Bump for this very informative thread. Putting together my tax documents and noticed TD Ameritrade and ETrade reported the bonuses (cash accounts) as 1099-MISC income. Neither Sharebuilder (IRA) nor Merrill Edge (cash) reported the bonuses.
thanks, this is useful data.  based on what I've tried and read about:
- IRA promos are not reported
- FF mileage is not reported
- cash <$600 is not reported
- giftcards ?
- other gifts (e.g. kindle fire, ipod) ?

did you have anything that fell outside these 'rules'?  anyone have other details?  I do think some places report all cash amounts, even when <$600.

  Yep, my Merrill bonus was $600, but not reported

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