If one were to open an account with $500,0000 at any of the major brokerages mentioned on this forum and receive a bonus for doing so, and then all that money is invested in a government money market fund, then 6 months later another $500,000 gets transferred-in and placed into the same government money market fund, is the brokerage generating any revenue from that account?All depends on supply and demand. I doubt fee based financial planning has anything to do with it. In fact, I've never heard of people with managed accounts being offered incentives...My question relates to bonuses of additional incoming transfers at brokerages mentioned in this thread.
Using hypothetical numbers.
Suppose brokerage A will match brokerage B's bonus offer on an incoming transfer of $500,000 cash in a regular taxable account. Let's say after 6+ months that $500,000 has just sat there in the brokerage's sweep account or in a single government money market fund. What is the likelihood of that same brokerage offering another bonus for transferring another $500,000 in cash to that account? Will the brokerage likely only offer an additional bonus if one commits to fee based financial planning services at that brokerage?
Statistics: Posted by DTalos — Wed May 15, 2024 4:46 pm — Replies 8226 — Views 1542832