TradeKing is offering to pay transfer fees up to $150 to become your new online broker. And here comes Sharebuilder sending me an email with “We’ll give you $50 to bring over your other accounts” as the subject line.  This appears as a tug of war with both these companies suggesting we forget about the other company and side with them so that they can collect more fees.

Whats required of you if you transfer?  We’ll you’d have to fill out a form, get it notarized and rush over a fax, then wait almost eight weeks for the transfer to process.  It will cost you, but the company you’re transferring to will compensate you to cover the charge.  Both companies charge $50 for a full transfer out.  The Sun’s Financial Diary gives a good explanation of a transfer process.

So what’s in it for me?  That’s the question.  All one can look forward to is a bunch of paper pushing and money moving with no reward.  Its so not worth it!   I’m happy with having an account with both companies, TradeKing and Sharebuilder.

Come on already, where’s the investor’s incentive for the hassle?

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