Small incentive from BMO Investorline

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Small incentive from BMO Investorline

Postby Norbert Schlenker » 22 Apr 2012 12:30

New assets get a ~0.2% rebate after six month holding period.

...

The assets to the Qualifying Account must be net new assets to BMO InvestorLine. You must maintain the required net new assets (based on the calculation of all withdrawals and deposits in your account) from the start of the Promotion Period to six (6) months after funding your Qualifying Account (the “Six Month Period”) to be eligible for the Promotion. If the net new assets fall below $50,000 CDN between the start of the Promotion Period and the end of the Six Month Period due to withdrawals on your Qualifying Account, you will not qualify for the Promotion. If your net new assets fall below $50,000 CDN due to market fluctuations, you will still be eligible for the Promotion.

Required Net New Assets Cash Back Award
$50,000 CDN $100 CDN
$100,000 CDN $250 CDN
$250,000 CDN $600 CDN

If you participate in the Promotion and comply with all requirements, as outlined in these Terms and Conditions, we will, within 30 days after the Six Month Period described herein, deposit a cash back award into your Qualifying Account.
...


Runs til June 1. If you're not an existing client, you will need to enter "BONUS" in the Promotion Code field on the first page of the online application.
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Re: Small incentive from BMO Investorline

Postby ig17 » 22 Apr 2012 12:47

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Re: Small incentive from BMO Investorline

Postby Alexander Davies » 22 Apr 2012 16:13

...

The assets to the Qualifying Account must be net new assets to BMO InvestorLine. You must maintain the required net new assets (based on the calculation of all withdrawals and deposits in your account) from the start of the Promotion Period to six (6) months after funding your Qualifying Account (the “Six Month Period”) to be eligible for the Promotion. If the net new assets fall below $50,000 CDN between the start of the Promotion Period and the end of the Six Month Period due to withdrawals on your Qualifying Account, you will not qualify for the Promotion. If your net new assets fall below $50,000 CDN due to market fluctuations, you will still be eligible for the Promotion.

Required Net New Assets Cash Back Award
$50,000 CDN $100 CDN
$100,000 CDN $250 CDN
$250,000 CDN $600 CDN

If you participate in the Promotion and comply with all requirements, as outlined in these Terms and Conditions, we will, within 30 days after the Six Month Period described herein, deposit a cash back award into your Qualifying Account.
...


There's also a "Refer a Friend" bonus which can be claimed in addition to the cash back award described above. However, if you take your signed papers into a branch, as I did, be careful that they don't turn your application into an in-branch application, which isn't eligible for the referral bonus. At least the branch employee promised that they would reimburse the transfer fees in addition to the cash-back award (but, according to the website, they'll do that anyway if your total assets are high enough). It doesn't affect me too much, but my neighbour was expecting a few hundred bucks for the referral :oops:
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Re: Small incentive from BMO Investorline

Postby ockham » 22 Apr 2012 22:58

This has me wondering what my nuisance threshold is.

I moved from BMOIL to RBCDI 3-4 yrs ago when DI had its 1% promotion. I was perfectly happy with IL, but 1% made that move a no-brainer. But at $600 max per account, I have to weigh the PITA issues.

My tastes and needs are simple. PITA issues aside, are there other reasons not to do this??

I have a RBC series D Glbl Hy Yld bond fund I'd have to sell or leave behind. My sense 3-4 yrs ago was that DI had a larger GIC and prov strip inventory (which make up the backbone of my fixed income holdings) but that this did not translate into material pricing differences. Does anyone have recent experiences with DI and IL to offer as comparison??
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Re: Small incentive from BMO Investorline

Postby Springbok » 23 Apr 2012 09:11

ockham wrote:This has me wondering what my nuisance threshold is.

I moved from BMOIL to RBCDI 3-4 yrs ago when DI had its 1% promotion. I was perfectly happy with IL, but 1% made that move a no-brainer. But at $600 max per account, I have to weigh the PITA issues.

My tastes and needs are simple. PITA issues aside, are there other reasons not to do this??

I have a RBC series D Glbl Hy Yld bond fund I'd have to sell or leave behind. My sense 3-4 yrs ago was that DI had a larger GIC and prov strip inventory (which make up the backbone of my fixed income holdings) but that this did not translate into material pricing differences. Does anyone have recent experiences with DI and IL to offer as comparison??


For what it's worth, I have done the double switch.

I wanted to try RBCDI and the 1% offer was hard to resist. I kept some investments at BMOIL so had a side by side comparison. I stayed with RBCDI for a period, maybe over a year. But finally due to some frustration in dealing with RBCDI agents, I took advantage of a small incentive to switch everything back to BMOIL.

I am happy I switched back. BMOIL's site has a more intuitive interface (I am getting used to their recent upgrade!). I get Level II quotes which I did not at RBCDI. Having everything in one place is more convenient. Only downside (and not a big one) was having two sets of T-slips to enter for this year's taxes.

By the way, I switched back on a previous offer - $250Choice - I think we got $250/account plus agent threw in an extra $100/account.
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Re: Small incentive from BMO Investorline

Postby ockham » 23 Apr 2012 18:49

Springbok wrote:
For what it's worth, I have done the double switch.

I wanted to try RBCDI and the 1% offer was hard to resist. I kept some investments at BMOIL so had a side by side comparison. I stayed with RBCDI for a period, maybe over a year. But finally due to some frustration in dealing with RBCDI agents, I took advantage of a small incentive to switch everything back to BMOIL.

I am happy I switched back. BMOIL's site has a more intuitive interface (I am getting used to their recent upgrade!). I get Level II quotes which I did not at RBCDI. Having everything in one place is more convenient. Only downside (and not a big one) was having two sets of T-slips to enter for this year's taxes.

By the way, I switched back on a previous offer - $250Choice - I think we got $250/account plus agent threw in an extra $100/account.

Thanks for the info. I didn't find the previous $250/acc't offer tempting. OTOH, 5 acc'ts at $600/acc't, hmmm, has me wondering.
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