Secret Merrill Brokerage Bonus Of Up To $7,500

Merrill brokerage has a secret brokerage bonus with higher tiers than are publicly available. You can get this bonus by requesting it from a Merrill advisor.

Merrill Brokerage

A lot of us like to keep $100k+ in a brokerage account or retirement account with Merrill in order to get their top-tier relationship status. That gives the potential of earning  2.62% back on all credit card spend with various Bank of America credit cards.

Along the way, you can typically get a bonus for opening a new brokerage account with Merrill. The tiers vary by offer: the standard range is between $100-$600 for deposits of $20k-$250k. There’s also another version which goes in-and-out of availability, that one gives $100-$1,000 for the same deposit amount.

Secret Bonus Tiers

Interestingly, there is a similar brokerage bonus which is available exclusively via Merrill advisors and is typically available upon request. The ‘secret’ offer has mostly-similar tiers to the public offer, and also has higher tiers with a larger bonus for larger investment amounts:

• $20,000 to $49,999 – $100
• $50,000 to $99,999 – $150
• $100,000 to $199,999 – $250
• $200,000 to $299,999 – $600
• $300,000 to $499,999 – $1,000
• $500,000 to $999,999 – $1,500
• $1,000,000 or more – $2,500
• $2,000,000 or more  – $3,500
• $5,000,000 or more – $5,000
• $10,000,000 or more – $7,500

Signing Up With Merrill

When I asked a Merrill advisor about their bonuses, he casually mentioned this secret bonus offer. A reader reported the same offer some years ago; it appears to be consistently available upon request. You’ll have 30 days to open the new account after the Merrill advisor sends you the email with a signup link. And then you’ll have to fund the account within 45 days.

This bonus is working for both new and existing Merrill customers. For existing users, you should be able to keep the same Merrill account and add funds to the account to become eligible for the bonus. For example, if you have $500k in Merrill and you add $500k, you’ll be eligible for the $500k bonus tier and you’ll keep the full $1M in the account for 9 months. (From what I’ve heard, there is a 52 week look-back period, so if you pulled out $10k from the account in the past 52 weeks, you’ll have to add $510,000 in order to get the $500k tier bonus.)

Some people have had success getting this secret brokerage bonus attached to their existing Merrill account. A Merrill advisor told me instead to simply open a second Merrill brokerage account – there’s nothing stopping someone from having more than one. He advised me that if I’d like to simplify my accounts, after completing the bonus they can easily combine the two brokerage accounts into one.

Offer Details

This offer requires keeping the funds in with Merrill for 9 months. The bonus will be deposited within 2 weeks after the 9 months ends.

Tangentially, Merrill cash rewards are determined by the qualifying net new assets in your account, irrespective of any losses or gains due to trading or market volatility.

Data points indicate that Merrill does send a 1099 for bonuses above $600, and apparently not for bonuses less than that. Regardless, you’d legally have to self-report, though possibly you can deduct any transfer fees incurred. Some people like doing brokerage bonuses with IRA funds to maximize their tax-free growth. (Please consult a tax advisor for all tax related issues.)

Our Verdict

A lot of us transferred $100,000 into Public for their brokerage bonus from late last year and/or transferred $250,000 into Wells Fargo for their brokerage bonus. Some people might be considering moving on to other brokerages. Please consult our List of Best Brokerage Bonuses for all options.

This secret Merrill bonus can be another option for someone who wants to hit a higher tier which is not available publicly. The E*Trade bonus shown on our list also looks like another good option with high tiers.