Big Fidelity bonus

[firewhen]

My 401k was already at Fidelity and I transferred it to an IRA after I retired. They would not give me a bonus for that transfer since they already had that money but I do have a dedicated rep. We have spoken a bit and he offered me a bonus to move my funds from Vanguard. The good thing is it was done in-kind so I did not sell anything and still have the same funds. The funds no longer show on my Vanguard statement but are now on the Fidelity statement. This is taxable money but no tax consequences and they have my original cost basis. The bonus is taxable and is about .002% of the amount transferred depending on the amount. Practically no effort on my part and I get to see a big balance on my statement with the IRA and after-tax money now at one shop, which is another plus for me

I could not find this offer publicly, so you would need to ask and negotiate with them.

 

[COcheesehead]

They used to publish bonus info. Now you need to talk to a rep. The money moved needs to be fairly substantial.

 

[momoftwo]

Ive tried unsuccessfully to stop reading these occasional posts about Fidelity bonuses

We had two small IRAs at Fidelity 4 years ago when i retired. I moved my 403b account from Empower to an IRA at Fidelity.
A sizeable amount by any standards. Never thought a bonus was a possility, never asked.
Of course, it was never offered.

Im considering asking for a retention bonus.
Only half joking.

 

[firewhen]

Ive tried unsuccessfully to stop reading these occasional posts about Fidelity bonuses

We had two small IRAs at Fidelity 4 years ago when i retired. I moved my 403b account from Empower to an IRA at Fidelity.
A sizeable amount by any standards. Never thought a bonus was a possility, never asked.
Of course, it was never offered.

Im considering asking for a retention bonus.
Only half joking.

I did speak to Vanguard before I made the transfer, not expecting anything as I never heard of them offering a bonus to get new money let alone retain money. They were nice but said they did not offer bonuses.

 

[momoftwo]

I dont intend to move to Vanguard but Fidelity doesnt know that.

 

[Bruno]

I closed transfered my VG and EJ account to Schwab. I am suppose to get a $1000. Bonus its a refer a friend at Schwab. I had to get a code from him but he gets NOTHING? EJ did charge my $170 to close my account.

 

[Lewis Clark]

... The money moved needs to be fairly substantial.

When I asked Fidelity in 2022 about transferring funds, they told me the transfer had to be at least $1 million to qualify for any bonus.

 

[COcheesehead]

When I asked Fidelity in 2022 about transferring funds, they told me the transfer had to be at least $1 million to qualify for any bonus.

Yep and the bonus is a negotiation. They start at $1000. The rest is up to you.

They used to in the old days give Apple gift cards or airline miles for amounts as low as $100k. When I sold a house, I would deposit funds, get a $500 gift card. Rinse and repeat.

 

[PatrickA5]

I asked my Fido advisors assistant about possibly moving $800K from other places. Didn't offer a bonus, but did offer to help with the move. Ha! I went ahead and moved it anyway since I like consolidation.

I'm not sure how much I have to bring over in order to actually talk to my assigned advisor. Every email or phone call is intercepted by the assistant so I now consider him to be my advisor.

 

[retire48in2018]

I looked online and sent advisor what competition was doing, and they matched that.

Here’s an article showing benchmarks - https://www.moneycrashers.com/best-ira-rollover-promotions/

Then, they took a week and met it.

 

[Vacation4us]

Last week I was offered $3500 for $1 million. Plan on taking them up on the offer when a CD matures May 15 th. Since they already have some of my money I may have to “ borrow” up to 100k from spouse. It has to be new money to them.

 

[nobody]

0.002 times the amount you moved or 0.002%? 0.002% is = 0.00002, which is nothing. 0.002 = .2%

 

[f35phixer]

I am moving 850K from TSP to Fidelity and he said i would get 350. If i move 150K move from my saving for a million move, i could get 3500. Guess i am different, but 3500 is a small drop in bucket, i don't need to chase that.....