Vanguard Advisor Bullied Me

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Beatnik
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Vanguard Advisor Bullied Me

Post by Beatnik » Wed Jan 17, 2018 6:43 pm

I am new to investing via a brokerage account. Previously I had only an employer-sponsored IRA. I had been managing my own holdings in the IRA and averaged an 11% return. After opening a brokerage account last summer, I was automatically set up with a personal advisor who told me that I MUST get rid of the stocks I'd done so well with, and invest in bonds. They stated that they would not work with me if I refused to do this. I was so intimidated that I went along with them. There have been multiple issues, including continued confusion by advisors about my plans and objectives. They get it wrong every quarter! Sometimes they confuse my monthly goal as yearly, sometimes they have the date wrong for planned transactions. At this point I want to drop the personal advisors and go back to managing the funds myself, but I'm not sure Vanguard will allow this. (Of course,some of the best funds are now closed to me b/c the advisor closed them.) Any suggestions would be welcome.

dbr
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Re: Vanguard Advisor Bullied Me

Post by dbr » Wed Jan 17, 2018 9:00 pm

Beatnik wrote:
Wed Jan 17, 2018 6:43 pm
I am new to investing via a brokerage account. Previously I had only an employer-sponsored IRA. I had been managing my own holdings in the IRA and averaged an 11% return. After opening a brokerage account last summer, I was automatically set up with a personal advisor who told me that I MUST get rid of the stocks I'd done so well with, and invest in bonds. They stated that they would not work with me if I refused to do this. I was so intimidated that I went along with them. There have been multiple issues, including continued confusion by advisors about my plans and objectives. They get it wrong every quarter! Sometimes they confuse my monthly goal as yearly, sometimes they have the date wrong for planned transactions. At this point I want to drop the personal advisors and go back to managing the funds myself, but I'm not sure Vanguard will allow this. (Of course,some of the best funds are now closed to me b/c the advisor closed them.) Any suggestions would be welcome.
Do you mean you signed up for Vanguard Personal Advisory Service at a cost of 0.3% AUM. If you did it could well be they would not continue to advise you unless your portfolio is in the investments they recommend. We have heard of them saying that.

However, such a thing cannot have happened automatically.

But the question is why would you want or consent to having an advisor. Just tell them you are fine without their advice and proceed to manage your affairs without one. Absolutely you can have an account at Vanguard with no advisors and you can do whatever you want with it. Normally one would access such an account online and not have to have someone do anything for you.

I would say that based on your experience a letter written as coherenly as possible to upper management would not be out of line. It probably would help to document exactly who you talked to when and what they said. If possible try to remember how you were "automatically" signed up. When was the first contact with a person at Vanguard, did you or they initiate that contact, and what did they say?

Mors
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Re: Vanguard Advisor Bullied Me

Post by Mors » Wed Jan 17, 2018 9:08 pm

You need to be more specific. Are you referring to individual stocks or stock funds?

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Tyler Aspect
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Re: Vanguard Advisor Bullied Me

Post by Tyler Aspect » Wed Jan 17, 2018 9:09 pm

I am sorry the advisory service did not work out for you.

You can open a new Vanguard Rollover IRA brokerage account online and transfer the existing managed brokerage account to the new one.

Not sure how you got accidentally signed up with PAS without your consent in the first place.
Last edited by Tyler Aspect on Wed Jan 17, 2018 9:14 pm, edited 1 time in total.
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Gill
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Re: Vanguard Advisor Bullied Me

Post by Gill » Wed Jan 17, 2018 9:10 pm

You have monthly investment goals? That may get to the heart of the problem.
Gill

tibbitts
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Re: Vanguard Advisor Bullied Me

Post by tibbitts » Wed Jan 17, 2018 9:13 pm

Beatnik wrote:
Wed Jan 17, 2018 6:43 pm
I am new to investing via a brokerage account. Previously I had only an employer-sponsored IRA. I had been managing my own holdings in the IRA and averaged an 11% return. After opening a brokerage account last summer, I was automatically set up with a personal advisor who told me that I MUST get rid of the stocks I'd done so well with, and invest in bonds. They stated that they would not work with me if I refused to do this. I was so intimidated that I went along with them. There have been multiple issues, including continued confusion by advisors about my plans and objectives. They get it wrong every quarter! Sometimes they confuse my monthly goal as yearly, sometimes they have the date wrong for planned transactions. At this point I want to drop the personal advisors and go back to managing the funds myself, but I'm not sure Vanguard will allow this. (Of course,some of the best funds are now closed to me b/c the advisor closed them.) Any suggestions would be welcome.
It will help if you can explain definitively if you signed up for PAS and are paying the .3% fee. You seem to be conflating several complaints, and I'm guessing your biggest one is that you've missed out on some equity gains because of VG's recommendations. But if you held individual stocks (you don't make it clear if you held only funds, or individual stocks), and there weren't detrimental tax implications, everyone here would have recommended you replace them with more diversified funds, so you won't get a lot of sympathy on that front. And although the 100%-equity crowd has been very vocal lately, if you'd been around here in 2008-2009 and had more than about 50% equities, you would have been slapped down for that, too.

Maybe it would help to itemize the complaints so they can be addressed individually.

MrPotatoHead
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Re: Vanguard Advisor Bullied Me

Post by MrPotatoHead » Wed Jan 17, 2018 9:19 pm

Beatnik wrote:
Wed Jan 17, 2018 6:43 pm
I am new to investing via a brokerage account. Previously I had only an employer-sponsored IRA. I had been managing my own holdings in the IRA and averaged an 11% return. After opening a brokerage account last summer, I was automatically set up with a personal advisor who told me that I MUST get rid of the stocks I'd done so well with, and invest in bonds. They stated that they would not work with me if I refused to do this. I was so intimidated that I went along with them. There have been multiple issues, including continued confusion by advisors about my plans and objectives. They get it wrong every quarter! Sometimes they confuse my monthly goal as yearly, sometimes they have the date wrong for planned transactions. At this point I want to drop the personal advisors and go back to managing the funds myself, but I'm not sure Vanguard will allow this. (Of course,some of the best funds are now closed to me b/c the advisor closed them.) Any suggestions would be welcome.
If the money is not taxable or if it is and portable without incurring a taxable event I would vote with my feet.

IMO, the issues at Vanguard systemic at this point. They may be a decent company to do business with in another 20 years or so but right now they are as customer friendly as the DMV or TSA.

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Taylor Larimore
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Re: Vanguard Advisor Bullied Me

Post by Taylor Larimore » Wed Jan 17, 2018 9:47 pm

Beatnik:

Welcome to the Bogleheads forum!
At this point I want to drop the personal advisors and go back to managing the funds myself, but I'm not sure Vanguard will allow this.
Vanguard will allow this. Just ask.

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle

barnaclebob
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Re: Vanguard Advisor Bullied Me

Post by barnaclebob » Wed Jan 17, 2018 9:54 pm

MrPotatoHead wrote:
Wed Jan 17, 2018 9:19 pm
Beatnik wrote:
Wed Jan 17, 2018 6:43 pm
I am new to investing via a brokerage account. Previously I had only an employer-sponsored IRA. I had been managing my own holdings in the IRA and averaged an 11% return. After opening a brokerage account last summer, I was automatically set up with a personal advisor who told me that I MUST get rid of the stocks I'd done so well with, and invest in bonds. They stated that they would not work with me if I refused to do this. I was so intimidated that I went along with them. There have been multiple issues, including continued confusion by advisors about my plans and objectives. They get it wrong every quarter! Sometimes they confuse my monthly goal as yearly, sometimes they have the date wrong for planned transactions. At this point I want to drop the personal advisors and go back to managing the funds myself, but I'm not sure Vanguard will allow this. (Of course,some of the best funds are now closed to me b/c the advisor closed them.) Any suggestions would be welcome.
If the money is not taxable or if it is and portable without incurring a taxable event I would vote with my feet.

IMO, the issues at Vanguard systemic at this point. They may be a decent company to do business with in another 20 years or so but right now they are as customer friendly as the DMV or TSA.
OP has posted s borderline incoherent series of events and based in his post does not have a lot of experience with investing (nothing wrong with that). Its far to early to blame Vanguard.
Last edited by barnaclebob on Thu Jan 18, 2018 11:32 am, edited 1 time in total.

inbox788
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Re: Vanguard Advisor Bullied Me

Post by inbox788 » Wed Jan 17, 2018 9:54 pm

Beatnik wrote:
Wed Jan 17, 2018 6:43 pm
I am new to investing via a brokerage account. Previously I had only an employer-sponsored IRA. I had been managing my own holdings in the IRA and averaged an 11% return. After opening a brokerage account last summer, I was automatically set up with a personal advisor who told me that I MUST get rid of the stocks I'd done so well with, and invest in bonds. They stated that they would not work with me if I refused to do this. I was so intimidated that I went along with them. There have been multiple issues, including continued confusion by advisors about my plans and objectives. They get it wrong every quarter! Sometimes they confuse my monthly goal as yearly, sometimes they have the date wrong for planned transactions. At this point I want to drop the personal advisors and go back to managing the funds myself, but I'm not sure Vanguard will allow this. (Of course,some of the best funds are now closed to me b/c the advisor closed them.) Any suggestions would be welcome.
Are you sure it's Personal Advisor Services and not another type of advisor? Of course you can change, but it's a matter of how to do it. If the changes are recent, there isn't much in terms of consequences, but a little short term capital gains. You can also leave some of the items, so long as you meet any minimum account requirements. What type of account (get the full name) and what are the minimums?

sambb
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Re: Vanguard Advisor Bullied Me

Post by sambb » Wed Jan 17, 2018 9:59 pm

If you read here, vanguard has serious customer service issues. i would do a target fund and drop the advisor.

JD
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Re: Vanguard Advisor Bullied Me

Post by JD » Wed Jan 17, 2018 10:00 pm

Gill wrote:
Wed Jan 17, 2018 9:10 pm
You have monthly investment goals? That may get to the heart of the problem.
Gill
+1

I have never heard of monthly goals as mentioned by the OP. The goal is usually "Short (1-5years), Long Term (20+years) and Mid goal which is something in between the short and the long term.
Vanguard or other brokers can not intimidate you or make you sign something that you don't understand or unwilling to sign but it looks like there are a miscommunication.. Good luck,

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randomizer
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Re: Vanguard Advisor Bullied Me

Post by randomizer » Wed Jan 17, 2018 10:07 pm

Given the advice you can receive on this forum, and the simplicity of managing a Boglehead portfolio (eg. something like a three-fund portfolio), I really don't see the point of having an advisor. Maybe if you want somebody to help you deal with behavioral issues, but even then, I'd hope that you could gradually wean yourself off it through study, discipline, and the cultivation of good habits.
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Munir
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Re: Vanguard Advisor Bullied Me

Post by Munir » Wed Jan 17, 2018 10:10 pm

The OP's story has big holes in it. You don't get assigned to advisors without you requesting or approving an advisor. I thought you get one advisor and not many. I never heard of monthly goals. Advisors cannot "close" funds for your use. With due respect, I think you have not educated yourself about basic rules of investing in Vanguard funds or this is a spam.

psteinx
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Re: Vanguard Advisor Bullied Me

Post by psteinx » Wed Jan 17, 2018 10:26 pm

OK, so let's take this piece by piece, and be gentle on the first time poster:

Beatnik wrote:
Wed Jan 17, 2018 6:43 pm
I am new to investing via a brokerage account. Previously I had only an employer-sponsored IRA. I had been managing my own holdings in the IRA and averaged an 11% return.
OK, fair 'nuff. But can you clarify a bit for the rest of us - Who sponsored the IRA (what brokerage ran it), and what were you invested in? An 11% return is good, but markets have been really strong lately, so really evaluating this performance would require more information, including the timeframe it was achieved over.

Beatnik wrote:
Wed Jan 17, 2018 6:43 pm
After opening a brokerage account last summer, I was automatically set up with a personal advisor who told me that I MUST get rid of the stocks I'd done so well with, and invest in bonds. They stated that they would not work with me if I refused to do this. I was so intimidated that I went along with them.
OK, so let's try to clarify here. Did you open a taxable brokerage account, separate from any IRA you might have? Or was the IRA changed in some fashion (either at your request or because you changed employers or your employer changed how the plan is run or what)?

Vanguard does offer different types of advisory service, with the common one being, I think, PAS. If you set up your own taxable brokerage account with Vanguard, per my understanding, you may have had the option to use PAS, but not the obligation (you could have self-managed, with many many investment options). If it's some kind of employer account, then it's harder to say. More details might allow folks here to better understand your situation and perhaps make suggestions.

Beatnik wrote:
Wed Jan 17, 2018 6:43 pm
There have been multiple issues, including continued confusion by advisors about my plans and objectives. They get it wrong every quarter! Sometimes they confuse my monthly goal as yearly, sometimes they have the date wrong for planned transactions.
Who/what are you interacting with at Vanguard? A basically automated system, or a human being? If the latter, is it the same person, or changing? How often are you interacting with them? In general, your frequency - reviewing plans and objectives quarterly and/or having monthly goals, sounds WAY too high. Most folks hear make investment plans on much longer time intervals, and don't change their plans that often.

And could you clarify your date/planned transactions issue? What kind of planned transactions are these?

Beatnik wrote:
Wed Jan 17, 2018 6:43 pm
At this point I want to drop the personal advisors and go back to managing the funds myself, but I'm not sure Vanguard will allow this. (Of course,some of the best funds are now closed to me b/c the advisor closed them.) Any suggestions would be welcome.
Again, a better explanation of the circumstances of your current account, and what changed (and led to the changes) from the previous situation you were happier with, may allow folks here to offer constructive suggestions.
Last edited by psteinx on Thu Jan 18, 2018 12:08 am, edited 1 time in total.

Beatnik
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Re: Vanguard Advisor Bullied Me

Post by Beatnik » Wed Jan 17, 2018 10:49 pm

Thanks for all the comments. Here are some clarifications:

I had/have an IRA which I’m not old enough to touch yet. I do not know the difference between individual or stock funds, sorry. Last year I opened a taxable individual brokerage account. When I called to set up the new account I was told that based on the amount involved I would have a personal advisor at 0.3% fee. I am nearly illiterate when it comes to investing, just had no idea what was typical. I thought the advisor service with low fee sounded pretty good so I agreed. I wanted 60/40 stocks/bonds, which is what I had in the IRA. The advisor said that needed to flip at the very least 60 bonds, 40 stock. The first quarterly reported showed they had changed my investments to 80/20 bonds/stocks in both accounts. My account is set up so that I cannot login and change anything myself, I have to call an advisor. First call, I was told that the advisors set up the balance and holdings in a way they feel best meets my needs. I need an allowance of about $1700/month, which I suppose they calculate quarterly.

I agree that Vanguard is a decent company and part of the problem is my lack of knowledge. Your comments have motivated me to educate myself further. Thanks.

drzzzzz
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Re: Vanguard Advisor Bullied Me

Post by drzzzzz » Wed Jan 17, 2018 11:03 pm

Beatnik wrote:
Wed Jan 17, 2018 10:49 pm
Thanks for all the comments. Here are some clarifications:

I had/have an IRA which I’m not old enough to touch yet. I do not know the difference between individual or stock funds, sorry. Last year I opened a taxable individual brokerage account. When I called to set up the new account I was told that based on the amount involved I would have a personal advisor at 0.3% fee. I am nearly illiterate when it comes to investing, just had no idea what was typical. I thought the advisor service with low fee sounded pretty good so I agreed. I wanted 60/40 stocks/bonds, which is what I had in the IRA. The advisor said that needed to flip at the very least 60 bonds, 40 stock. The first quarterly reported showed they had changed my investments to 80/20 bonds/stocks in both accounts. My account is set up so that I cannot login and change anything myself, I have to call an advisor. First call, I was told that the advisors set up the balance and holdings in a way they feel best meets my needs. I need an allowance of about $1700/month, which I suppose they calculate quarterly.

I agree that Vanguard is a decent company and part of the problem is my lack of knowledge. Your comments have motivated me to educate myself further. Thanks.
Having been with Vanguard personal advisory services in the past you can easily stop the service and the quarterly fee by just calling or emailing your advisor and letting them know that you are no longer interested in the service. When we did that, the accounts stayed as is and no new accounts needed to be opened and no new account numbers were assigned; you are also correct that you can not change any investments yourself when you use the advisory service since they don't want you to change agreed upon asset allocations (although in your case, there seems to be some confusion as to what those allocations were suppose to be). I am also guessing that they might have suggested a greater bond percentage based upon your age and/or need to withdraw money (but only a guess). If you are comfortable managing your own funds at this point you should consider that and if you are not sure about what is going on with your account with the advisor you should call him/her to explain it to you again. I would also second what others have said that there are many individuals on this site who will provide you helpful information at no cost.

dbr
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Re: Vanguard Advisor Bullied Me

Post by dbr » Wed Jan 17, 2018 11:13 pm

It is possible that if a person wants to draw down an account at the rate of $1700/month that this means using all the money in a fairly short term. In that case 60% or 80% bonds would be appropriate.

What I see here is massive miscommunication regarding the nature of the relationship between the customer and Vanguard, regarding how Vanguard operates with or without VPAS, regarding what the objectives of the investor really are/were and regarding the reasons for the asset allocation selected. It is true that if you ask for advice you will get it. The way VPAS operates seems to me to be highly proactive, which may create misunderstandings. There is still a misunderstanding about how VPAS even came to be involved.

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BL
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Re: Vanguard Advisor Bullied Me

Post by BL » Wed Jan 17, 2018 11:44 pm

I suggest you take the time to post your whole financial situation according to suggestions in the "sticky" thread, Asking Portfolio Questions. It will not only help you get better suggestions here, but will help you "see" your overall finances and let you make the best decisions.

It sounds like you are looking for regular income, which may require a different asset allocation than accumulating for retirement.

letsgobobby
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Re: Vanguard Advisor Bullied Me

Post by letsgobobby » Thu Jan 18, 2018 12:20 am

Is this IRA in a trust?

Money Market
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Re: Vanguard Advisor Bullied Me

Post by Money Market » Thu Jan 18, 2018 12:45 am

Munir wrote:
Wed Jan 17, 2018 10:10 pm
The OP's story has big holes in it. You don't get assigned to advisors without you requesting or approving an advisor. I thought you get one advisor and not many. I never heard of monthly goals. Advisors cannot "close" funds for your use. With due respect, I think you have not educated yourself about basic rules of investing in Vanguard funds or this is a spam.
I agree. This sounds more like a typical Edward Jones story instead of Vanguard. OP mentions below that the PAS advisor refused to let him rollover an IRA unless he participates in PAS. I find it odd because anyone can just open a rollover IRA account with Vanguard through their website.

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bottlecap
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Re: Vanguard Advisor Bullied Me

Post by bottlecap » Thu Jan 18, 2018 1:37 am

I gotta side with Vanguard here. No offense to the original poster, but after a post and a clarification, I still don’t have a clear enough idea of what's going on. And the written word is much easier than over the phone.

My best guess is that the OP told the advisor I need x amount from this account per year and I need it to last y years. The advisor ran the calculations and determined the OP needed 60% bonds to have a reasonable chance of success. If this is the case, it’s too bad the advisor could not explain this well.

But 60% bonds is probably a very good idea until you learn more about investing (and this is he best place to learn). Stock markets are not guaranteed and do not always go up. A falling stock market without enough bonds can put a serious crimp in your withdrawal rate.

Happy learning,

JT

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Re: Vanguard Advisor Bullied Me

Post by celia » Thu Jan 18, 2018 1:58 am

Beatnik, I have one idea that may explain what has happened.

Are you by any chance a minor and have a large inheritance now? It is ok for minors to post here and we will take that into account, if that is your situation. But, legally, minors cannot open financial accounts on their own. The deceased, if this is an inheritance, may have chosen Vanguard to manage your money for now. For your best interests since this is new to you and to protect the value of your holdings, Vanguard probably has to be conservative in your holdings. Or maybe the deceased stated that they wanted the holdings to be invested conservatively, thus giving you more bonds than you would have chosen for yourself.

If this is not a correct assumption on my part, there could be a similar explanation, involving another set of circumstances. We can help you understand why things are like they are and what your choices may be in the future. But to help you the best we can, can you respond whether you are a minor. Does this money come from an inheritance? Remember that this is a public forum and we don't need any details to identify you or where you live. We just need to understand what the circumstances are that may have contributed to what happened.


To answer one of your questions, individual stock is holding the stock of a particular company, such as Microsoft, Apple, Nike, or Starbucks. A stock fund is a collection of shares from 100 or more companies. The shares are chosen by the manager of the mutual fund, and many other mutual funds (and individual investors) also hold shares from some of the same companies. For example, if you look at what the Vanguard Total Stock Market fund holds, you can see the top ten holdings in the fund. For most people, it is better to hold mutual funds than a few of the individual stocks in the mutual fund because it gives you more diversity and less risk. If one company has a bad year and you hold the stock of that individual company, it can have a bad impact on your portfolio or net worth. But if you hold a mutual fund that owns some of the shares from that company, it doesn't have as big an impact because there will be other stocks that do well.

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Re: Vanguard Advisor Bullied Me

Post by Beatnik » Thu Jan 18, 2018 11:16 am

Yes I'm 17 and it was inheritance.

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Munir
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Re: Vanguard Advisor Bullied Me

Post by Munir » Thu Jan 18, 2018 11:29 am

Beatnik wrote:
Thu Jan 18, 2018 11:16 am
Yes I'm 17 and it was inheritance.
Thank you for sharing these facts, and I apologize for the harsh tone of my previous comment. You are receiving good advice from others on this forum.

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Re: Vanguard Advisor Bullied Me

Post by mouses » Thu Jan 18, 2018 11:34 am

Welcome, Beatnik.

I am sure you will get a lot of useful advice here.

Be sure not to post any information that would identify you, no real name, etc.

But post the details of your overall financial situation so that people can give better advice.

barnaclebob
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Re: Vanguard Advisor Bullied Me

Post by barnaclebob » Thu Jan 18, 2018 11:37 am

Beatnik wrote:
Thu Jan 18, 2018 11:16 am
Yes I'm 17 and it was inheritance.
Others will give you good advice but what you can do is start educating yourself on investments so that you can speak the same language as whoever is in charge of the account(s) (trusts?). Look at the wiki on this page to learn about asset allocation and how it effects risk, mutual funds, etc.

What do you need from this trust and how much is it? Can you post what the current investments are?

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Taylor Larimore
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Excellent Reply

Post by Taylor Larimore » Thu Jan 18, 2018 12:02 pm

Post by celia » Thu Jan 18, 2018 1:58 am

Beatnik, I have one idea that may explain what has happened.
celia:

Your "idea" was correct. Excellent post!!

Thank you and best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle

staythecourse
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Re: Vanguard Advisor Bullied Me

Post by staythecourse » Thu Jan 18, 2018 12:18 pm

Not to deviate the topic, but as a minor how do you even have a say in the money? Doesn't a trustee have to handle the money for you? Just trying to educate myself on this aspect so some clarity would be appreciated.

Thanks in advance.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

tesuzuki2002
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Re: Vanguard Advisor Bullied Me

Post by tesuzuki2002 » Thu Jan 18, 2018 12:52 pm

Beatnik wrote:
Wed Jan 17, 2018 6:43 pm
I am new to investing via a brokerage account. Previously I had only an employer-sponsored IRA. I had been managing my own holdings in the IRA and averaged an 11% return. After opening a brokerage account last summer, I was automatically set up with a personal advisor who told me that I MUST get rid of the stocks I'd done so well with, and invest in bonds. They stated that they would not work with me if I refused to do this. I was so intimidated that I went along with them. There have been multiple issues, including continued confusion by advisors about my plans and objectives. They get it wrong every quarter! Sometimes they confuse my monthly goal as yearly, sometimes they have the date wrong for planned transactions. At this point I want to drop the personal advisors and go back to managing the funds myself, but I'm not sure Vanguard will allow this. (Of course,some of the best funds are now closed to me b/c the advisor closed them.) Any suggestions would be welcome.
You should have pushed back. I don't take bullying from my investment brokerage!

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Re: Vanguard Advisor Bullied Me

Post by ResearchMed » Thu Jan 18, 2018 1:00 pm

staythecourse wrote:
Thu Jan 18, 2018 12:18 pm
Not to deviate the topic, but as a minor how do you even have a say in the money? Doesn't a trustee have to handle the money for you? Just trying to educate myself on this aspect so some clarity would be appreciated.

Thanks in advance.

Good luck.
To OP -

Because you are a minor, there are probably some restrictions on how the money is to be invested and/or disbursed.
Much or all of this may have been specified by the person from whom you inherited.

As staythecourse mentioned, is there a Trustee?

That may be someone you should get to know if you don't already, and discuss all of this.

The Vanguard rep might (not at all sure, obviously) have severe restrictions on what she/he is allowed to do, regardless of *your* instructions.
(In that case, "closing" some choices may be due to issues like trust restrictions, and not specific policies at Vanguard, other than to abide by trust terms.)

There is probably a layer of oversight here that you need to consider, and find out whether the Vanguard rep can or cannot do what you wish.
Note that in some cases, trust restrictions can continue past age 18 or 21, sometimes long past, depending upon the terms set by the person creating the trust.

This is probably all being done out of consideration of your future, and it would help if you could get more information about the underlying terms, rather than specific funds or stocks.

RM
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Re: Vanguard Advisor Bullied Me

Post by Beatnik » Thu Jan 18, 2018 1:07 pm

I know it was a uniform trust. My uncle wants me to stop posting here. Thanks for all the suggestions.

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Re: Vanguard Advisor Bullied Me

Post by triceratop » Thu Jan 18, 2018 1:12 pm

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"To play the stock market is to play musical chairs under the chord progression of a bid-ask spread."

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