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Negative investment costs?


DTEJD1997
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Hey all:

 

I've got a family who has a rather substantial investment portfolio.  He is a self directed investor.

 

He does not trade very often.  Most years he makes a few trades....no trades the last year or so...

 

Anyway, he uses various discount brokers and the last 3 years he has NEGATIVE costs for trading!

 

He recently received $5k to move his two accounts to Scottrade AND got 250 free trades.  Of course, he will never need anywhere near 250 free trades.  He would probably be content with 10 free trades!

 

He has done this 3 times now and his costs for trading were silly low before, something like .00015 of assets under management.  Now, he gets paid to move his accounts and gets free trades.  So no fee for the little bit of trading that he does, and the brokers pay him for the privilege!

 

Anybody else doing this?

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