The Offer
Fidelity is currently offering a bonus when you switch your IRA to a Fidelity IRA. The maximum bonus is 10% and this match applies for the next three years. The matching bonus you’ll receive depends on the value of the qualifying transferring.
It’s unclear if you’re able to get this 10% match in addition to the other Fidelity IRA & Brokerage bonuses or not, my gut feeling is no.
The Fine Print
- Maximum reward amount is $1,950
- Not available for direct rollovers from workplace savings plans
- Available to new and existing Fidelity IRA customers
- Limited to one offer per individual per rolling 12 months
- Cannot be combined with any other offer
- New or eligible accounts must be funded with at least one qualifying direct deposit within 60 days of registration
Our Verdict
This bonus looks like it’s replacing the $2,500 cash rewards bonus that Fidelity used to offer. You can view a full list of the other Fidelity IRA bonuses here. Personally I’d never recommend making any investment decisions based on such a small bonus (maximum of $1,950).
For most people the fees charged by Fidelity will outweigh the bonus, but that will vary person to person. Let me know your thoughts on this bonus in the comments section below.
