I love people who are loyal. They stick with you through good times and bad. Unfortunately, when it comes to business, loyalty is dead. Firms will spit you out at a moment’s notice. Banks just move on to the next win once they’ve got you as a customer.
There is no loyalty when it comes to capital. Your goal should be to allocate your capital in as efficient a manner as possible. The more efficient your capital allocation, the greater your chance at financial freedom.
One of the reasons why I keep the comments section open despite the massive amount of spam I must wade through each day is that there are often nuggets of wisdom to be learned.
After publishing the educational post, how online brokerages make money if they cut trading fees to zero, one reader mentioned that Charles Schwab has a promotion where you’ll get $2,500 free if you move $1 million over to their platform. Not bad!
Then another reader chimed in that TD Ameritrade had an even better offer. So I had to take a look.
Disclosure: Financial Samurai has partnered with CardRatings for our coverage of credit card products. Financial Samurai and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.