bkushner wrote: ↑ It looks like the CIBC account has to be kept for a year. I think the BMO one is shorter. I may move $300 000 to BMO and $100 000 to CIBC and take the 1150$ . Seems worth it for that. I have TD e series funds which I would have to sell, but I was looking at converting them to Mawer funds anyways. I am assuming I can buy Mawer funds from BMO and CIBC but I will check on that.
The CIBC deal has two components:
1) A bonus for transferring cash/securities of $200 for $50k, or $400 for $100k. According to section 9 of their terms and conditions, assets must be left at CIBC for six months; and
2) An additional bonus of 50 free trades for people who meet the cash/securities transfer requirement PLUS establish a Regular Investment Plan. According to clause 4(d)(ii) the Regular Investment Plan needs to remain active for 12 months to qualify for the 50 free trades.
The bonus for transferring securities is pretty good, but the regular investment plan looks like it would be a real nuisance to set up and then later cancel. I'd consider taking the first bonus, but I'd probably skip the free trades.