I know I have written a lot about how I like Scottrade vs. Sharebuilder, and have highlighted the benefits of Scottrade so many times. However, I got a deal from Wells Fargo that I couldn’t turn down, and I wanted to share it with you.
It is called the Wells Fargo PMA package. This is supposedly Wells Fargo’s top-of-the-line relationship package, which they charge $30 a month for unless you maintain a $25,000 minimum. However, the cool thing is that it doesn’t have to be $25,000 in assets. It can be a combination of anything, including a home loan!
So, why am I making such a big deal about this? Here is what it comes with:
- Free Interest Checking
- Free Checks (almost any style as well)
- Free cashier checks, traveler’s cheques, and money orders
- Discounts on Safe Deposit Boxes
- 100 Commission-free trades per year
- No annual brokerage fees
While I’m not taking full advantage of the free perks yet, I did move my brokerage account over. It was a quick and painless transfer that took only about 2 days, and there were no broker transfer fees from either company, which really shows how great Scottrade really is as well.
The primary driver of my move is that I trade about 10-15 times per year in my brokerage account (include both buys and sells). As a result, that would cost me $70-$105 per year in commissions at Scottrade. Now, that is completely free at Wells Fargo. I have never gone over 100 trades, and don’t plan to, so I should be enjoying free trades for a long time to come!
I do have to mention that Scottrade’s research is much easier to use than Wells Fargo, so even though I moved my account, I never closed my Scottrade account, and will be continuing to use it for their research tools!
If you are a Wells Fargo customer, this may be something you want to look into!