I think this might be a good idea, but just in case I wanted to run this by people before doing something stupid. Merrill Edge offers up to $600 for new accounts if you transfer enough cash/securities from other banks/brokerages. It also offers free trades if your account sum total is over 50k. I happen to have enough in my Vanguard brokerage account to qualify for both.
I'm thinking about this sequence of moves: 1) convert my vanguard mutual funds to etf's so that I can deal with them once they are transferred to merrill. 2) transfer my etf's over to merrill. 3) use the 30 free trades a month to manage my etf's going forward.
Besides the 600 bucks, I think this might be slightly more convenient in the long run too, because I happen to be a Bank of America customer. However, I've never used Merrill Edge before, so I'm a bit apprehensive. Are there any drawbacks that I'm failing to see?
Submitted September 29, 2017 at 05:49PM by Cookiemole http://ift.tt/2xE8mpW
