The Offer
U.S. Bank Wealth Management is offering a bonus of up to $1,000. Bonus you receive depends on the balance you add by August 31, 2024. Funds must be maintained by December 31, 2024
Earn $250: When you deposit $250,000 – $499,999
Earn $500 When you deposit $500,000 – $999,999
Earn $1,000 When you deposit $1,000,000+
The Fine Print
This offer is valid for clients who are 18 years or older, who open a new investment account with a U.S. Bancorp Investments Advisor and add net new assets of at least $250,000 (the “Threshold Amount) into the new account between June 10, 2024 and August 31, 2024 and maintain the Threshold Amount through December 31, 2024. Funds currently held at U.S. Bancorp Investments are not applied to the Threshold Amount. Note that it can take up to six weeks for any external transfers to be completed.
*Please note: Offer is applicable to most non-qualified investment accounts and IRAs. The offer is not available for the following account types/products: Insurance products, annuities, Automated Investor, self-directed accounts, 529 college savings plans, estate accounts, UTMA/UGMA, Rollover IRAs coming from an employer sponsored retirement plan, and employer sponsored retirement plans (401(k), profit sharing, SEP-IRA, SIMPLE IRA and other retirement plan types).
Additional information on the brokerage and advisory services available through U.S. Bancorp Investments including associated fees is available in our Client Relationship Summary (form CRS). Limit one bonus per customer. Assets in multiple accounts will not be aggregated for purposes of meeting the Threshold Amount.
If you qualify for the Bonus Offer, and continue to meet the asset requirement, your investment account will be credited with the Bonus Amount on or about January 30, 2025. If you deposit assets into qualified account (IRA) the bonus amount will be paid to the qualified account (IRA) as earnings. The Bonus Amount you receive will depend on the dollar amount of net new assets for your investment account (the “Threshold Amount”). You must maintain the Threshold Amount deposited through December 31, 2024. If (a) you meet the other qualifications and (b) fund your investment account with a threshold amount of $250,000 to $499,999, you will qualify to receive $250, if you fund your investment account with a threshold amount of $500,000 – $999,999, you will qualify to receive $500, or if you fund your investment account with a threshold amount of $1,000,000 or more, you will qualify to receive $1,000 (each the “Bonus Amount”).
Our Verdict
Says offer is non transferrable, but looks like a public link and you need to meet with a wealth management advisor anyway so you should be able to confirm it with them before proceeding. The fee structure is as follows:
First $250,000: 2%
Next $250,000: 1.8%
Next $500,000: 1.6%
That kills the deal as even if it’s prorated you’re going to pay more in fees than you get in bonuses.