When VG REALLY Messes Up - How Do You Elevate/Correct?

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PGR
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When VG REALLY Messes Up - How Do You Elevate/Correct?

Post by PGR » Wed Mar 13, 2019 2:09 pm

As a general question - In the event Vanguard clearly *really* messes something up - what options do you have or have you utilized for elevating the matter? gaining visibility? getting action on fixing it? ...

stan1
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Re: When VG REALLY Messes Up - How Do You Elevate/Correct?

Post by stan1 » Wed Mar 13, 2019 2:54 pm

It might help you get a better response if you let us know the nature of the problem. I haven't had a problem in a long time but what happened about 10 years ago is once they acknowledged a problem existed I was given the name of a specialist who was empowered to fix the problem as opposed to talking only to a customer service rep who entered data into a computer and read back a response. So my answer would be insist on getting a name and contact info for someone empowered to fix the problem. Vanguard has always fixed any problems I've had. It hasn't been fast or easy but they got fixed on their schedule and workflow process.

If Vanguard disagrees with you that a problem exists in the first place you'll have to elevate up supervisory chains or write the CEO. I've never been in a situation with Vanguard where I am in disagreement with them on whether or not something is a problem. This is a harder path to be on. Vanguard is very structured on process and rigor.

megabad
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Re: When VG REALLY Messes Up - How Do You Elevate/Correct?

Post by megabad » Wed Mar 13, 2019 4:49 pm

PGR wrote:
Wed Mar 13, 2019 2:09 pm
As a general question - In the event Vanguard clearly *really* messes something up - what options do you have or have you utilized for elevating the matter? gaining visibility? getting action on fixing it? ...
I guess I am not sure the topic your are trying to address. When Vanguard "really messes" something up, I consider that a money issue. A money issue, for example is a direct mistake on Vanguard's part that directly affects the account balance (they invested in VOO instead of VTI as instructed). In my experience, money issues at Vanguard (and Fidelity) automatically get escalated very quickly so long as you have evidence that the broker acted improperly.

The last money issue I had, I went from frontline customer rep, to my advisor, to a specialist, to a VP within 4 hours (not on the phone, they had to call me back). It took maybe 2 days to fix the problem and then another 2 days for it to show up correctly in my account (everything was retroactively affected as if it never happened). It should never have happened but Vanguard escalated everything automatically. Apparently none of the people you can normally reach at Vanguard have the authority to fix what I would refer to as "really" big messups but they should transfer you quickly or get someone to call you back.

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PGR
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Re: When VG REALLY Messes Up - How Do You Elevate/Correct?

Post by PGR » Thu Mar 14, 2019 4:27 pm

I went from frontline customer rep, to my advisor, to a specialist, to a VP within 4 hours
OK - that answers my question. Next time round I'll use the escalation steps with the titles you mentioned here - thanks!

In my case they messed up a re-characterization request twice in a row. First VG denied the request citing I hadn't made Roth contributions (I to go thru trouble of proving to VG I'd made the contributions to my VG Roth account several times over the phone). Once we agreed upon those facts... on the 2nd try VG grossly messed up the amount to be re-characterized by over $37k. It's taken several weeks, many calls, messages... but I think it's fixed... I think.

thanks,

typical.investor
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Re: When VG REALLY Messes Up - How Do You Elevate/Correct?

Post by typical.investor » Thu Mar 14, 2019 4:48 pm

There is also a dispute resolution team that can see a record of every mouse click you made. It takes some time though.

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whodidntante
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Re: When VG REALLY Messes Up - How Do You Elevate/Correct?

Post by whodidntante » Thu Mar 14, 2019 6:57 pm

You can file a dispute with FINRA if the person who checks the public email for the CEO decides to blow you off.

http://www.finra.org/investors/investor ... int-center

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