"Vanguard converting mutual fund accounts to brokerage?

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BrandonBogle
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by BrandonBogle »

Today during the Bogleheads Conference, we met with some of the people from Vanguard about the new account structure. I explicitly asked them if conversion is manadatory (no) and if mutual fund only accounts would remain available (yes). They said this is being advertised as a convenience factor, but they have no plans to make it mandatory nor stop offering the old MF account type (good news for those with compliance restrictions from certain employers!).
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BrandonBogle
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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by BrandonBogle »

Today during the Bogleheads Conference, we met with some of the people from Vanguard about the new account structure. I explicitly asked them if conversion is manadatory (no) and if mutual fund only accounts would remain available (yes). They said this is being advertised as a convenience factor, but they have no plans to make it mandatory nor stop offering the old MF account type (good news for those with compliance restrictions from certain employers!).
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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by Angst »

Personally, I look forward to making the switch. I wish they'd let me do it now. I don't like having to wait for an ETF sale to clear to reinvest the proceeds in a mutual fund.
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by Toons »

BrandonBogle wrote:Today during the Bogleheads Conference, we met with some of the people from Vanguard about the new account structure. I explicitly asked them if conversion is manadatory (no) and if mutual fund only accounts would remain available (yes). They said this is being advertised as a convenience factor, but they have no plans to make it mandatory nor stop offering the old MF account type (good news for those with compliance restrictions from certain employers!).
Thanks for the info!
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by Angst »

Toons wrote:Thanks for the info!
+1 :happy
That should allay some fears.
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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by cfs »

BrandonBogle wrote:Today during the Bogleheads Conference, we met with some of the people from Vanguard about the new account structure. I explicitly asked them if conversion is manadatory (no) and if mutual fund only accounts would remain available (yes). They said this is being advertised as a convenience factor, but they have no plans to make it mandatory nor stop offering the old MF account type (good news for those with compliance restrictions from certain employers!).
Thanks Brandon, this is good information and this question will continue to come up (not by those reading this conversation or the other conversation from Riversider) ====> http://www.bogleheads.org/forum/viewtop ... st=2235381
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by Riversider »

BrandonBogle: thanks for your information. --Riversider :beer
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by toto238 »

That being said, they are certainly going to start migrating more and more to the new system. They'll make it so all new accounts use the new system, and then encourage people to upgrade until a vast majority of accounts are upgraded. At a certain point, they may start using the stick instead of the carrot, maybe charging an extra fee to anyone who refuses to upgrade.

Realistically speaking, I don't think they want to be maintaining, servicing, and training all their employees on two separate systems indefinitely. It's a expensive and unnecessary. And for those of us that have gotten used to the old system and some of its quirks, we may have to change our processes a bit to keep up with the changes. That's life I suppose. Life is change.

I think back to when they stopped allowing retirement trust FBO accounts. I want to say they charged people something like $100 per account to get them to switch eventually.
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by oneleaf »

I just sent a secure message to my Flagship rep asking if my accounts will eventually be eligible for conversion. Hopefully I can gain some insight into why some accounts cannot be converted yet. I will report back with any pertinent info that may affect others. Also i want to make sure the agent authorization settings will not be affected by this change.
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by Longdog »

oneleaf wrote:I just sent a secure message to my Flagship rep asking if my accounts will eventually be eligible for conversion. Hopefully I can gain some insight into why some accounts cannot be converted yet. I will report back with any pertinent info that may affect others. Also i want to make sure the agent authorization settings will not be affected by this change.
The new system does not allow distributions from one mutual fund to be reinvested in another. It also does not allow automatic exchanges between mutual funds. If you have either of those options enabled, you will not be able to do the conversion.
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by oneleaf »

SteveM wrote:
oneleaf wrote:I just sent a secure message to my Flagship rep asking if my accounts will eventually be eligible for conversion. Hopefully I can gain some insight into why some accounts cannot be converted yet. I will report back with any pertinent info that may affect others. Also i want to make sure the agent authorization settings will not be affected by this change.
The new system does not allow distributions from one mutual fund to be reinvested in another. It also does not allow automatic exchanges between mutual funds. If you have either of those options enabled, you will not be able to do the conversion.
Thanks.
Yea I have none of those options enabled, nor have I ever. I heard someone else mention that it has to do with having too many accounts and I am guessing it has to do with the agent authorization settings.
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oneleaf
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by oneleaf »

My rep stated that they are still working on the transition for Flagship clients, which seems like they are starting with smaller accounts. Any Flagshippers get transitioned yet?
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by Doc »

oneleaf wrote:My rep stated that they are still working on the transition for Flagship clients, which seems like they are starting with smaller accounts. Any Flagshippers get transitioned yet?
Does that mean they started with Flagship and haven't finished with them yet or does it means starting with small accounts and going larger? :?
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oneleaf
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by oneleaf »

Doc wrote:
oneleaf wrote:My rep stated that they are still working on the transition for Flagship clients, which seems like they are starting with smaller accounts. Any Flagshippers get transitioned yet?
Does that mean they started with Flagship and haven't finished with them yet or does it means starting with small accounts and going larger? :?
He stated that they are still working on transitioning accounts for Flagship clients. Hard to tell if that means they have already started or still planning.
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by toto238 »

Doc wrote:
oneleaf wrote:My rep stated that they are still working on the transition for Flagship clients, which seems like they are starting with smaller accounts. Any Flagshippers get transitioned yet?
Does that mean they started with Flagship and haven't finished with them yet or does it means starting with small accounts and going larger? :?
I'm thinking if I was in charge, I would start small and simple and get bigger. Start with the simplest accounts with small amounts where not a lot can go wrong. And if something does go wrong, you've only lost a small account.

They're probably savings Flagship for when all the kinks are worked out. I imagine there's probably a few Flagship people who got the upgrade who really asked for it. But I imagine they're hesitant to make it widely available for Flagship until everything is completely ironed out.

So my understanding is, starting out small, and going larger (with perhaps small exceptions here and there).
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by Doc »

oneleaf wrote:He stated that they are still working on transitioning accounts for Flagship clients.
toto238 wrote:I'm thinking if I was in charge, I would start small and simple and get bigger.
Oh great, since we are in the middle I guess we get transitioned in ~2019 when our next TIPS ladder matures. :annoyed
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oneleaf
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by oneleaf »

Doc wrote:
oneleaf wrote:He stated that they are still working on transitioning accounts for Flagship clients.
toto238 wrote:I'm thinking if I was in charge, I would start small and simple and get bigger.
Oh great, since we are in the middle I guess we get transitioned in ~2019 when our next TIPS ladder matures. :annoyed
Yea but by 2019, you will have a larger account and be pushed back to 2025. :sharebeer
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Re: Query re Vanguard letter urging brokerage account by Nov

Post by Angst »

oneleaf wrote:
Doc wrote:
oneleaf wrote:He stated that they are still working on transitioning accounts for Flagship clients.
toto238 wrote:I'm thinking if I was in charge, I would start small and simple and get bigger.
Oh great, since we are in the middle I guess we get transitioned in ~2019 when our next TIPS ladder matures. :annoyed
Yea but by 2019, you will have a larger account and be pushed back to 2025. :sharebeer
But think of how much easier it will make it for your heirs.
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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by LadyGeek »

FYI - I merged Riversider's thread into here. There may be a few duplicate / similar posts mixed in (cfs, BrandonBogle).
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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by toto238 »

Doc wrote:
oneleaf wrote:He stated that they are still working on transitioning accounts for Flagship clients.
toto238 wrote:I'm thinking if I was in charge, I would start small and simple and get bigger.
Oh great, since we are in the middle I guess we get transitioned in ~2019 when our next TIPS ladder matures. :annoyed
I think more likely is that by mid-next year virtually everyone will be ELIGIBLE to upgrade. But by the end of 2016, everyone with existing brokerage accounts will be upgraded, whether they like it or not. So I imagine you should be eligible sooner rather than later.
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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by Horton »

Does anyone know if there is a minimum balance required for the sweep account?

My prior understanding (which may have been incorrect?) is that you had to maintain a $3,000 Money Market balance to have a brokerage account.
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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by iceport »

DallasGuy wrote:Does anyone know if there is a minimum balance required for the sweep account?

My prior understanding (which may have been incorrect?) is that you had to maintain a $3,000 Money Market balance to have a brokerage account.
You need a sweep account, but I've held less that 100 bucks in the Roth IRA money market fund that serves as the sweep account for a Roth IRA brokerage account for years now, with no complaints or action from Vanguard. I also own the same money market fund in a taxable account, and there's more than $3k in that, so maybe that has something to do with it. Or maybe they just don't care too much about maintaining the minimum in the money market funds if you have lots of other funds that all meet the minimum and you're a buy-and-hold investor with few transactions.

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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by Doc »

petrico wrote:
DallasGuy wrote:Does anyone know if there is a minimum balance required for the sweep account?

My prior understanding (which may have been incorrect?) is that you had to maintain a $3,000 Money Market balance to have a brokerage account.
You need a sweep account, but I've held less that 100 bucks in the Roth IRA money market fund that serves as the sweep account for a Roth IRA brokerage account for years now, with no complaints or action from Vanguard. I also own the same money market fund in a taxable account, and there's more than $3k in that, so maybe that has something to do with it. Or maybe they just don't care too much about maintaining the minimum in the money market funds if you have lots of other funds that all meet the minimum and you're a buy-and-hold investor with few transactions.

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Minimum investment to open a Prime MM account is $3000. I often have less than $1 in my ROTH MM for long periods of time.

When Vg "eliminated" the Investor class of Treasury MM account they moved everyone to Admiral class and grandfather them in even though the balance was less than the $10k minimum to open. I had less than $10k in it for more than five years before finally closing the position.
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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by Angst »

I routinely have $0 in both my taxable and Roth MM accounts. Typically, only when dividends clear taxable funds & ETFs into the MM fund is there a balance, or when I transfer money in from my bank account. Everything in the Roth currently reinvests so the MM fund is usually at $0, except again when I transfer an annual contribution in from bank, but even that might go directly into an equity MF. This is how it has been for me for years. Vanguard would have a lot of unhappy campers if they enforced a >$0 balance requirement for the clearing account.
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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by dkturner »

DallasGuy wrote:Does anyone know if there is a minimum balance required for the sweep account?

My prior understanding (which may have been incorrect?) is that you had to maintain a $3,000 Money Market balance to have a brokerage account.
On the mutual fund side of the business that's true, but on the brokerage side of the business Vanguard requires a money market fund for each brokerage account and has never enforced a minimum balance requirement for the money market funds which are "linked" to brokerage accounts.
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Re: "Vanguard converting mutual fund accounts to brokerage?

Post by Bonnan »

I opted to upgrade and it was executed and completed in two days without a hitch. An outstanding check has also been paid.
Although much too early to make a judgement............I would warn anyone who only has mutual funds to due their home work before "upgrading". I see no benefit and it adds clutter to statement.
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Re: VBS upgrade roll out has started

Post by SailingAway »

[Thread merged into here, see below (next page), -- admin LadyGeek]

Does anyone know what the current status of this is? I checked at the embedded link and got "none of your accounts are eligible" phone home message. Not sure why, don't have any auto anythings set up. It is a flagship account, but don't think that is why.

Has anyone looked a comparison of VG liability either way? Any better protection against fraud or whatever with you assets in one house vs in both?
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Re: VBS upgrade roll out has started

Post by Doc »

JamesSFO wrote:BTW I got my account upgraded (Flagship) but it took some pestering, minimal fuss in Quicken and all is well. Much easier to have one single account like at Fidelity and elsewhere for all of my holdings of one type.
Where did you start with the pestering? I can't find the right button to push.
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Re: VBS upgrade roll out has started

Post by JamesSFO »

Doc wrote:
JamesSFO wrote:BTW I got my account upgraded (Flagship) but it took some pestering, minimal fuss in Quicken and all is well. Much easier to have one single account like at Fidelity and elsewhere for all of my holdings of one type.
Where did you start with the pestering? I can't find the right button to push.
I emailed my flagship representative multiple times and didn't take no for an answer.

EDIT: To be clear I emailed say about March/April was told no, pushed again in May, and then got a yes in August. My parents then tried in September and got no and after 3 emails got a yes...
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Re: VBS upgrade roll out has started

Post by lazyday »

"Rabbi, can't we just pretend you turned me away three times?"
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Re: VBS upgrade roll out has started

Post by JamesSFO »

lazyday wrote:"Rabbi, can't we just pretend you turned me away three times?"
LOL. :sharebeer

Yeah, I think basically it is discretionary right now for Flagship reps to do this. It's a huge help though in terms of the number of accounts I have which went down from like 8 to 3. My parents went from like 14-16 to 6.
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Re: VBS upgrade roll out has started

Post by SailingAway »

Emailed my Flagship rep on Friday about this. I'll let you know what he has to say.
Seems like they were great guns on this and it somewhat has fizzled away.

Wonder what % of accounts have been migrated over.
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Re: VBS upgrade roll out has started

Post by Kevin M »

SailingAway wrote:Emailed my Flagship rep on Friday about this. I'll let you know what he has to say.
I predict that he will say the same thing they've been saying all along. That they're migrating the accounts gradually, and they will not tell you when you will be allowed to migrate your account. But will be interested if you get any more specific info.

I used to be looking forward to the migration because of the ability to use unsettled funds from selling an ETF to buy a mutual fund on same day ETF is sold, but I've already sold the ETFs for which this would have been a factor in the near term.

Also, now that I understand that you will not be able to have dividend and cap gain distributions deposited directly to a linked bank account, I am no longer looking forward to the migration. Having fewer accounts and having brokerage and MF accounts integrated will be nice, but having to log on and manually transfer dividend distributions monthly, and keep track of when cap gain distributions are paid will pretty much offset that advantage for me personally. This is a factor not only for my accounts but also for some accounts for which I am an agent.

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Re: VBS upgrade roll out has started

Post by SailingAway »

Well Kevin, you pretty much hit it on the head.

Very vague. See below:
We are still moving forward with offering our new Vanguard Brokerage
Account to Flagship clients. At this point, the upgrade is being offered to
clients on a targeted basis, typically first to clients with the least
complex accounts and holdings. Unfortunately, clients are unable to upgrade
their accounts until they receive the offer.

Regarding the advantages of the new account, simplicity is one of the most
significant benefits of the new account structure. Having one account
number, along with one single statement and tax form for each account,
makes doing business with Vanguard easier than ever. Additional advantages
include shorter settlement times and faster bank transfers.

One potential disadvantage of upgrading at this time is the fact that not
all account options are currently available for the new account structure.
When you receive the upgrade offer and explore the upgrade process, our
website will alert you to any potential issues that you may encounter with
your current account options. You may also need to complete paperwork to
continue certain options, so it's important to carefully review the upgrade
information before making a final decision. Many of these potential issues
will be addressed as we continue to make enhancements to the new account
structure.
So, don't know much that we didn't know before I guess. I don't think I have anything particularly complicated in our accounts. No auto anythings, like someone mentioned earlier, so not sure what the deciding factors are for "eligibility".

Going back to some of the earlier posts it looks like this started well over a year ago and I haven't seen anything to indicate they are 90% or 9% of the way there. So, I guess we just sit and wait. I did ask for a little clarity on the last paragraph as to what will or won't be available and if that will be permanent.

I'll keep you posted if anything news comes of it,
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Re: VBS upgrade roll out has started

Post by Steven28 »

I will be interested to hear from quicken users as to how the Vanguard upgrade impacts them. I have just recovered from a bit of a mess with their recent issues and hope I will not have more of the same.

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Re: VBS upgrade roll out has started

Post by Doc »

Might have made progress today. Got hold of a "Brokerage" associate that managed to get 1 account (or 2 depending on how you count) converted and promised to work on the other 2 (or 4 depending on how you count) and promised to get back within the next 1 or 2 days on the others.

As background we were invited to convert in November 2013 and there was always some "glitch" that prevented it for example as in "all or none" which apparently doesn't matter (after the November 2014 election :D).
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Re: VBS upgrade roll out has started

Post by Doc »

AlanSteven wrote:I will be interested to hear from quicken users as to how the Vanguard upgrade impacts them. I have just recovered from a bit of a mess with their recent issues and hope I will not have more of the same.

Alansteven
Not to worry Intuit has a better IT department than Vanguard.

(If you are addressing the Pershing versus Vanguard account numbers yes it was a bitch for several weeks.)
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Re: VBS upgrade roll out has started

Post by JamesSFO »

If you use quicken MAKE a new account for the merged brokerage. Basically download all of the holdings into "Old Q MF" and "Old Brokerage" de-active both. And create a new account, e.g. "New Combined" and move shares of everything but your settlement account over in Quicken (move shares is a transaction type) and then activate the New Combined for download.

Just keep pushing if you get a no from your flagship rep, they have discretion, my rep did me after three times, then my parents have a different rep who said no and then kept pushing.
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Re: VBS upgrade roll out has started

Post by Steven28 »

Thanks James. The approach you describe sounds straightforward. Just curious- what is your thinking around creating a new combined account and transferring stocks and funds into it, versus just taking the existing mutual fund account and transferring the stocks into that? Alansteven
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Re: VBS upgrade roll out has started

Post by runner9 »

I got the e-mail last week, "Action requested on your accounts by XX, 2014" It seems like there's little benefit if I had no complaints and the possibility for downsides, lost ability to do things I can do now, etc.

So, how do I decline it? Just let it pass? Call the rep and say no thanks?
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Re: VBS upgrade roll out has started

Post by JamesSFO »

AlanSteven wrote:Thanks James. The approach you describe sounds straightforward. Just curious- what is your thinking around creating a new combined account and transferring stocks and funds into it, versus just taking the existing mutual fund account and transferring the stocks into that? Alansteven
Reusing either old account won't work in terms of recognizing the settlement fund, just don't do it.
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Re: VBS upgrade roll out has started

Post by toto238 »

runner9 wrote:I got the e-mail last week, "Action requested on your accounts by XX, 2014" It seems like there's little benefit if I had no complaints and the possibility for downsides, lost ability to do things I can do now, etc.

So, how do I decline it? Just let it pass? Call the rep and say no thanks?
Theoretically you can just not take action. But I don't expect that Vanguard wants to maintain two separate computer systems indefinitely. There's a number of things that Vanguard could do to pressure you into the new system.

For example:

People with the old account that call in get automatically routed to a special queue which has the lowest level grunts on the totem pole on it.
People with the old account cannot have the $20 account service fee waived no matter if they're Voyager, Flagship, etc.
People with the old account get an extra fee of $xx per year added on top of the account service fee.
People with the old account can no longer call in to place trades and must do so completely online.
The account features that the old account offers start getting taken away, one by one.

The list goes on. They're likely going to provide less and less service for the old accounts to nudge people into the new ones.

According to CSR from Vanguard, they've upgraded somewhere between 150k-200k clients so far to the new account structure. That sounds like maybe the 3-4% range of all accounts, but maybe 5-10% of all accounts that can even be upgraded.

One key feature in the new brokerage account: you can cancel vanguard mutual fund orders before the market close (before 2PM ET I believe). So if you buy a fund at 10am, then realize it was the wrong fund at noon, you can change it or delete it and replace it with the correct order. That's pretty neat.
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Re: VBS upgrade roll out has started

Post by JamesSFO »

toto238 wrote:
runner9 wrote:I got the e-mail last week, "Action requested on your accounts by XX, 2014" It seems like there's little benefit if I had no complaints and the possibility for downsides, lost ability to do things I can do now, etc.

So, how do I decline it? Just let it pass? Call the rep and say no thanks?
Theoretically you can just not take action. But I don't expect that Vanguard wants to maintain two separate computer systems indefinitely. There's a number of things that Vanguard could do to pressure you into the new system.
....
other posts about this include statements from VG that you will be able to keep a MF only account indefinitely. They might chose to try to penalize it but since the brokerage accounts are more "expensive" to service in that the phone reps need additional qualifications, my guess is that they won't or just will let it phase out over time by making it harder/less obvious for new customers to open a MF only account, etc.
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Re: VBS upgrade roll out has started

Post by runner9 »

I'd be fine to switch once some issues are worked out. I'm use to sites (like Yahoo mail) giving the option to decline for several months, then hiding the decline on a buried page, then setting a date you must switch.

That way others can work out the problems. Eventually we'll download iOS8 for our iphone and ipad, but we're content to wait a few more months:)

Thanks!
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Re: VBS upgrade roll out has started

Post by cfpyne »

I called my Vanguard rep today and he was able to initiate the VBS upgrade while we were on the phone. This will reduce 8 accounts to 4 and make things a lot simpler.
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Re: VBS upgrade roll out has started

Post by oneleaf »

I would like to know, for anyone on the new system, have you tried to do a Traditional to Roth IRA conversion? Usually this can be done online with an exchange, eliminating the need to snail mail a form. I would love to know if anyone has tried doing it with the new system?
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thedeadlybishop
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Joined: Wed Sep 17, 2014 1:44 am

Re: VBS upgrade roll out has started

Post by thedeadlybishop »

oneleaf wrote:I would like to know, for anyone on the new system, have you tried to do a Traditional to Roth IRA conversion? Usually this can be done online with an exchange, eliminating the need to snail mail a form. I would love to know if anyone has tried doing it with the new system?
I recently went through this for my DW. Her accounts have been upgraded while mine have not. It would allowed us to transfer online. However, the funds were not available to purchase securities. We had to call to make the conversion "official" - seems like a quirk of the new system. I asked the rep what to do for next year and he recommended calling to make sure there was no delay. Hope they get it resolved but a call is better than mailing in the form.
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oneleaf
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Joined: Mon Feb 19, 2007 4:48 pm

Re: VBS upgrade roll out has started

Post by oneleaf »

thedeadlybishop wrote:
oneleaf wrote:I would like to know, for anyone on the new system, have you tried to do a Traditional to Roth IRA conversion? Usually this can be done online with an exchange, eliminating the need to snail mail a form. I would love to know if anyone has tried doing it with the new system?
I recently went through this for my DW. Her accounts have been upgraded while mine have not. It would allowed us to transfer online. However, the funds were not available to purchase securities. We had to call to make the conversion "official" - seems like a quirk of the new system. I asked the rep what to do for next year and he recommended calling to make sure there was no delay. Hope they get it resolved but a call is better than mailing in the form.
Cool, thanks for the feedback. I will likely wait until this is sorted out before upgrading.
victork
Posts: 107
Joined: Fri Jul 25, 2008 2:26 pm

Re: VBS upgrade roll out has started

Post by victork »

The Declaration of Independence contains these words:
"mankind are more disposed to suffer . . . than to right themselves by abolishing the forms to which they are accustomed."
True than; true now.
I've been happy with my Vanguard accounts for about 20 years, and feel no need to change things. Indeed, as always, change can feel threatening.
My approach has been according to the Russian proverb, "Trust, but Verify."
So I spoke with a Vanguard rep, who says that the motivation for this account structure change has been to make it more current with industry practice, to omit services that are not used, and to save costs.
For me, I'm happy to give up my check writing, since I no longer use it; I like ACH transfer. I'm a bit sad to know that, eventually, the tax statements will all come in February, so that all the possible brokerage assets will have up to date information. I like to have the mutual fund statements in January, so that I know where things stand. Otherwise, no big deal.
For others, especially those who direct dividends from one fund to another, serious thought is required. Perhaps Vanguard will restore this service in the future.
And, for a few, another investment company may offer something that fits them better.

I have mutual funds, an IRA, a Roth, and a Brokerage account at Vanguard, and I started the upgrade today. I think that, given what Vanguard knows about cutting costs, it's in my interest to go with this. Also, I'm sure that, had this been the account structure 20 years ago, I'd have signed up for it without a second thought, and I'd be a happy camper with it today.
dfin
Posts: 87
Joined: Sun May 05, 2013 9:25 am

Vanguard New Account Structure

Post by dfin »

[Thread merged into here, see below. --admin LadyGeek]

I assume many of you have Vanguard accounts (yea a real stretch). I have a number of mutual funds and a brokerage account with them and a number of my mutual funds have a new account structure offering. I'm not seeing any downside but was wondering if anyone else has opted not to pursue the change.

The new structure per Vanguard is as follows:
What's new

Our new account structure offers a simple way to organize all your investments. You'll no longer need an account for Vanguard mutual funds and a separate one for brokerage products, such as exchange-traded funds (ETFs) and stocks. Each of your accounts can hold any investment you choose.

Thanks
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