Wish I could quit Vanguard for poor customer service

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reisner
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Wish I could quit Vanguard for poor customer service

Post by reisner »

I feel I must now dis-recommend Vanguard because of poor customer service. Starting in November of 2020 I initiated a gift of approximately 50 shares (VG no longer allows an exact dollar amount gift but only numbers of shares) from our Total Stock Market fund in an alas taxable brokerage account to a major charity. As of today, April 27, 2021, I am for the umpteenth time assured by the latest VG agent I talked to after an interminable time on hold (no call-back option, no updates as to hold time, same disgusting music) that I have answered their last little question, which by the way I had already answered at least twice before. I have been told a form requires one signature, then two, then one. I have encountered agents who were personable and perhaps knowledgeable and one yawning idiot who told me it was no problem that I had no further questions--I bit my tongue and wish I had not.

What is wrong with our Vanguard? I have 1.2 million with these dolts. The amount shouldn't matter to them, but it does to me.

Anybody else fed up?
colemanst13
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Re: Wish I could quit Vanguard for poor customer service

Post by colemanst13 »

I am very near moving my entire company’s 401k plan from Vanguard. The stupidity I have to deal with is astounding. I could write a book on the idiocy I’ve had to deal with being the plan administrator.

I greatly respect John Bogle but I know longer feel a connection between his legacy and the company that now exists. I think it’s extremely sad.
SnowBog
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Re: Wish I could quit Vanguard for poor customer service

Post by SnowBog »

Umm... So why can't you quit Vanguard?

I initially opened our Backdoor Roth accounts there, added a few other accounts. I didn't find anything particularly wrong with them...

But I consolidating everything to Fidelity.
Topic Author
reisner
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Re: Wish I could quit Vanguard for poor customer service

Post by reisner »

Closing out my taxable account would trigger a taxable event going back to 2009. Am I wrong?
02nz
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Re: Wish I could quit Vanguard for poor customer service

Post by 02nz »

reisner wrote: Tue Apr 27, 2021 11:01 pm Closing out my taxable account would trigger a taxable event going back to 2009. Am I wrong?
If you transfer assets in-kind to another brokerage, it's not a taxable event as you would not be selling. You might even be able to get a nice bonus for it at some place like E*Trade. If you have Vanguard mutual funds, call Vanguard to convert to ETFs at and then transfer out for greater portability (and lower cost, as in zero, to purchase additional shares at another brokerage).
Last edited by 02nz on Tue Apr 27, 2021 11:06 pm, edited 1 time in total.
Monsterflockster
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Re: Wish I could quit Vanguard for poor customer service

Post by Monsterflockster »

Does anyone have good customer service now days?
delamer
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Re: Wish I could quit Vanguard for poor customer service

Post by delamer »

reisner wrote: Tue Apr 27, 2021 11:01 pm Closing out my taxable account would trigger a taxable event going back to 2009. Am I wrong?

You should be able to transfer your assets in-kind to another custodian without triggering any taxable events.
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miket29
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Re: Wish I could quit Vanguard for poor customer service

Post by miket29 »

reisner wrote: Tue Apr 27, 2021 11:01 pm Closing out my taxable account would trigger a taxable event going back to 2009. Am I wrong?
Yes you do the transfer in-kind which simply moves the shares from one broker to another. No tax implications since there is no sale. See https://www.investopedia.com/terms/a/acat.asp The only wrinkle would be if you have invested in Vanguard mutual funds and the new brokerage house doesn't want to accept them. Check before you move. Also if the Vanguard mutual fund has an ETF equivalent then you could do a tax-free exchange into the ETF and then move that. Since ETFs are just shares, any brokerage should be willing to accept them.

As for the original complaint, I've done 3 transfers from my Vanguard regular brokerage account to Fidelity Charitable. All went smoothly. So it can work ok, although I was moving a stock and not a mutual fund.
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ResearchMed
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Re: Wish I could quit Vanguard for poor customer service

Post by ResearchMed »

delamer wrote: Tue Apr 27, 2021 11:07 pm
reisner wrote: Tue Apr 27, 2021 11:01 pm Closing out my taxable account would trigger a taxable event going back to 2009. Am I wrong?

You should be able to transfer your assets in-kind to another custodian without triggering any taxable events.
This should work fine. Just be *certain* that the order is to "transfer IN KIND".

The only problem would be if the receiving financial institution doesn't handle one (or more) of the mutual funds or fund families (and won't even accept them in kind). Then it would have to be liquidated before being transferred, so double check *before* making the arrangement that all can be handled as desired.
And if not, just check with another vendor. It's not a comman problem.

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EHEngineer
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Re: Wish I could quit Vanguard for poor customer service

Post by EHEngineer »

reisner wrote: Tue Apr 27, 2021 10:21 pm <snip>
Starting in November of 2020 I initiated a gift of approximately 50 shares (VG no longer allows an exact dollar amount gift but only numbers of shares) from our Total Stock Market fund in an alas taxable brokerage account to a major charity. As of today, April 27, 2021, I am for the umpteenth time assured by the latest VG agent <snip>
it is quite difficult to have Vanguard transfer ownership of shares to another person/entity. I've never been successful. Take some heart in that, you're unlikely to get robbed at vanguard.

Have you heard of Fidelity Charitable? Vanguard will gladly transfer your shares into another account in your own name. You can get the transfer done quickly if you first convert the shares to ETF, then transfer the ETF shares. The conversion to ETF is non-taxable. Once you have ETF shares, the transfer to Fidelity Charitable will take literally one business day. That has been my experience.

Fidelity Charitable is wonderful to use. They have every charity I've ever wanted; even small charities local to me. And they send the money quickly. They also have tracking so you can tell if they sent the money electronically or by check, and also see if the check cleared.

I highly recommend Fidelity Charitable.
The minimum to open and account is $5000, and it looks like you meet that. After you have an account, there is no minimum to keep it open. (edited to reflect corrections noted by Exhilarate)

good luck.

Here's a related thread from 2017
viewtopic.php?f=1&t=212026
Last edited by EHEngineer on Wed Apr 28, 2021 1:47 pm, edited 1 time in total.
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relativeratio
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Re: Wish I could quit Vanguard for poor customer service

Post by relativeratio »

Monsterflockster wrote: Tue Apr 27, 2021 11:06 pm Does anyone have good customer service now days?
My experience with Vanguard customer service has always been outstanding. They have consistently gone "above and beyond" over the years. You should talk to a manager if your dealing with a less then helpful representative.
dewey
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Re: Wish I could quit Vanguard for poor customer service

Post by dewey »

relativeratio wrote: Wed Apr 28, 2021 12:00 am
Monsterflockster wrote: Tue Apr 27, 2021 11:06 pm Does anyone have good customer service now days?
My experience with Vanguard customer service has always been outstanding. They have consistently gone "above and beyond" over the years. You should talk to a manager if your dealing with a less then helpful representative.
+1
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Exhilarate
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Re: Wish I could quit Vanguard for poor customer service

Post by Exhilarate »

EHEngineer wrote: Tue Apr 27, 2021 11:39 pm I highly recommend Fidelity Charitable. The minimum to open and account is $5000, and it looks like you meet that. After you have an account, there is no minimum to keep it open.
There is no minimum to open this at Fidelity. They do have a $100 minimum annual fee however, so you likely want your initial contribution well above that.
Anon1234
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Re: Wish I could quit Vanguard for poor customer service

Post by Anon1234 »

Exhilarate wrote: Wed Apr 28, 2021 12:37 am
EHEngineer wrote: Tue Apr 27, 2021 11:39 pm I highly recommend Fidelity Charitable. The minimum to open and account is $5000, and it looks like you meet that. After you have an account, there is no minimum to keep it open.
There is no minimum to open this at Fidelity. They do have a $100 minimum annual fee however, so you likely want your initial contribution well above that.
$0 minimum! I'm out of date!
I looked through my account statements and they have never charged me a fee. I'm not sure why. And I'm not going to ask :wink:
SnowBog
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Re: Wish I could quit Vanguard for poor customer service

Post by SnowBog »

reisner wrote: Tue Apr 27, 2021 11:01 pm Closing out my taxable account would trigger a taxable event going back to 2009. Am I wrong?
As others mentioned, you should be able to do an "in kind" transfer to another brokerage.

To add to my original post, I owned several Vanguard mutual funds in our brokerage account when I did an in kind transfer to Fidelity. For example, let's say when I started I had 100 shares of VTSAX in my Vanguard taxable account. After the transfer was complete, I had 100 shares of VTSAX in my Fidelity taxable account reflecting the same cost basis/gains that I originally had in my Vanguard account. (Note, it usually takes a few extra days after your can "see" the shares for the cost basis to be updated, but that's part of the transfer process.)

If I recall, all but one of my funds transferred "in kind", and IIRC the one that didn't was a money market fund (so no "gains"). But you'd want to confirm with your funds so you don't have any surprises!

I'd also strongly consider switching to ETFs where available while still at Vanguard. They can do so as a simple conversion, no tax impact. One benefit being that ETFs are far more portable. But if you are used to buying $X of a mutual fund, you may want to limit brokerage options to those that support "fractional shares" - such as Fidelity - so that you can continue to buy/sell in $ even if it's an ETF. If the broker doesn't support fractional shares, you'll be limited to buying/sell at least 1 "full" share.
SnowBog wrote: Tue Apr 27, 2021 10:43 pm Umm... So why can't you quit Vanguard?

I initially opened our Backdoor Roth accounts there, added a few other accounts. I didn't find anything particularly wrong with them...

But I consolidating everything to Fidelity.
anoop
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Re: Wish I could quit Vanguard for poor customer service

Post by anoop »

i heard all their customer service agents are quitting to become full-time passive investors. :D
Eat33
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Re: Wish I could quit Vanguard for poor customer service

Post by Eat33 »

Vanguard cost me hundreds of dollars when I attempted to transfer funds to my former wife.

Also cost me hours of time trying to explain their mistakes.

I asked for a simple e-mail or letter verifying my attempt and they refused.

Moved to Schwab and have had few problems and very good experience.
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Re: Wish I could quit Vanguard for poor customer service

Post by rossington »

reisner wrote: Tue Apr 27, 2021 10:21 pm I feel I must now dis-recommend Vanguard because of poor customer service. Starting in November of 2020 I initiated a gift of approximately 50 shares (VG no longer allows an exact dollar amount gift but only numbers of shares) from our Total Stock Market fund in an alas taxable brokerage account to a major charity. As of today, April 27, 2021, I am for the umpteenth time assured by the latest VG agent I talked to after an interminable time on hold (no call-back option, no updates as to hold time, same disgusting music) that I have answered their last little question, which by the way I had already answered at least twice before. I have been told a form requires one signature, then two, then one. I have encountered agents who were personable and perhaps knowledgeable and one yawning idiot who told me it was no problem that I had no further questions--I bit my tongue and wish I had not.

What is wrong with our Vanguard? I have 1.2 million with these dolts. The amount shouldn't matter to them, but it does to me.

Anybody else fed up?
I don't understand why this is such a complexity, why didn't you just sell what you wanted and send the money to the charity?
"Success is going from failure to failure without loss of enthusiasm." Winston Churchill.
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Cheez-It Guy
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Re: Wish I could quit Vanguard for poor customer service

Post by Cheez-It Guy »

rossington wrote: Wed Apr 28, 2021 4:41 am I don't understand why this is such a complexity, why didn't you just sell what you wanted and send the money to the charity?
Because then you pay capital gains taxes and lose the tax efficiency of giving appreciated shares (since the source is a taxable account). Also, giving through Vanguard Charitable Donor Advised Fund is dead easy. Accounts are linked and contribution is complete in a day.
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Re: Wish I could quit Vanguard for poor customer service

Post by z3r0c00l »

Maybe there are different kinds of customers with different complexities of needs. I never run afoul of issues at Vanguard, Treasury Direct, or Ally because I have never had to use their customer service, everything I need is done on the web page with a few clicks. I personally prefer this DIY option and especially if it saves me money. Then again I don't generally have that much to do but occasionally buy or sell.
karl8412
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Re: Wish I could quit Vanguard for poor customer service

Post by karl8412 »

I've had good customer service, overall, with Vanguard. I think customer service everywhere is cut back due to current pubic health conditions and remote working. Late last year they helped me through a multistep process of creating a trust account. It was complex but thanks to their help it was straightforward. I'd sit it out and expect customer service to get better. At least be sure where you're going has better customer service.
Last edited by karl8412 on Wed Apr 28, 2021 6:16 am, edited 1 time in total.
Flashes1
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Re: Wish I could quit Vanguard for poor customer service

Post by Flashes1 »

The Vanguard management team has run the company into the ground....all in the hunt for assets under management. Vanguard is supposed to be owned by the fund holders (who expect competent customer service). Instead Vanguard is run like it's owned by a hedge fund - and the management team won't even disclose their compensation? :twisted:
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Re: Wish I could quit Vanguard for poor customer service

Post by Opinika »

I've had Vanguard accts. for some years w/o any complaints. This are very simple, straightforward accts.

My Fidelity accounts, on the other hand, are complicated. Lots of transfers into/out of, transfers of custodial retirement accts, consolidation of multiple brokerage accts., stuff that I have trouble understanding. Fidelity has coordinated these things behind the scene, gotten everything arranged and contacted me when the deal was done. Thirty years of excellent customer service in a rapidly evolving industry.

Don't know how they're making money off of me.
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ClevrChico
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Re: Wish I could quit Vanguard for poor customer service

Post by ClevrChico »

For what it's worth, my 401k is with Merrill Lynch. They have no ability to electronically message them for support. It's 100% phone only. It's takes five minutes in a phone tree to reach a rep. Once you do reach a rep, they are very helpful, by I cringe every time I call having to go through the process.

I would love it to be with Vanguard instead.
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Nate79
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Re: Wish I could quit Vanguard for poor customer service

Post by Nate79 »

Just move your account to a competent broker (Fidelity, Schwab are two examples). Yes, yes you will see all the posters that say "Vanguard has always had great customer service for me". Well that is how every bad story of customer service starts.
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Re: Wish I could quit Vanguard for poor customer service

Post by sport »

Exhilarate wrote: Wed Apr 28, 2021 12:37 am
EHEngineer wrote: Tue Apr 27, 2021 11:39 pm I highly recommend Fidelity Charitable. The minimum to open and account is $5000, and it looks like you meet that. After you have an account, there is no minimum to keep it open.
There is no minimum to open this at Fidelity. They do have a $100 minimum annual fee however, so you likely want your initial contribution well above that.
Perhaps this is obvious, but in case it is not, there is a big difference between Fidelity and Fidelity Charitable. When you put money into Fidelity Charitable, you have given it away. It is no longer yours. The only thing you can do with it is designate charities to give it to.
gamboolman
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Re: Wish I could quit Vanguard for poor customer service

Post by gamboolman »

reisner
We are with Vanguard.
Sorry for your troubles.

We’ve had excellent support from VG

We established a Endowment at University in honor for our deceased son in 2020.

We transferred shares of our VG funds to the University.
It was easy and we had zero issues or problems.

The support from Vanguard for establishing the Endowment was excellent.

Hope you get satisfactory resolution soonest

gamboolman
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Wiggums
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Re: Wish I could quit Vanguard for poor customer service

Post by Wiggums »

gamboolman wrote: Wed Apr 28, 2021 9:48 am reisner
We are with Vanguard.
Sorry for your troubles.

We’ve had excellent support from VG

We established a Endowment at University in honor for our deceased son in 2020.

We transferred shares of our VG funds to the University.
It was easy and we had zero issues or problems.

The support from Vanguard for establishing the Endowment was excellent.

Hope you get satisfactory resolution soonest

gamboolman
Very sorry for your loss. I commend you for establishing an endowment at the University.
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Re: Wish I could quit Vanguard for poor customer service

Post by KyleAAA »

You can. Transferring is easy.
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Re: Wish I could quit Vanguard for poor customer service

Post by Dave55 »

I have never had a problem with Vanguard, Schwab or Fidelity. Lots of options for the OP, not satisfied, make a change.

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LilyFleur
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Re: Wish I could quit Vanguard for poor customer service

Post by LilyFleur »

Eat33 wrote: Wed Apr 28, 2021 2:37 am Vanguard cost me hundreds of dollars when I attempted to transfer funds to my former wife.

Also cost me hours of time trying to explain their mistakes.

I asked for a simple e-mail or letter verifying my attempt and they refused.

Moved to Schwab and have had few problems and very good experience.
Schwab has a nice friends and family $500 gift for you if you move to them. My ex-boyfriend and current boyfriend are doing this! My advisor was very helpful when I came to Schwab, helping me get set up with my inherited IRA. Their customer service is superb! 24-hour phone support with a call center staffed in the United States, well-trained staff, local offices to make large deposits, a well-designed app, excellent online portal for computer access. They will make the transition easy for you.
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Re: Wish I could quit Vanguard for poor customer service

Post by student »

reisner wrote: Tue Apr 27, 2021 11:01 pm Closing out my taxable account would trigger a taxable event going back to 2009. Am I wrong?
You can transfer mutual fund shares. Chase You Invest, now JP Morgan Self Direct, accept Vanguard mutual funds, and you can buy and sell most with no transaction fee. They will even give you a bonus. With 1.2 million, you will be treated well. If you go with being a Chase Private Client (no fee with your asset level and you can self-direct), you will likely get even better service. On a similar but a different topic, I had an issue getting the bonus with Sapphire Checking at Chase. I called the customer service twice, nothing was resolved. Drove to the bank, the bank manager took care of it. I must say that it was not instantaneous, as I think something was not coded correctly, but he fixed it in a few weeks.
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Re: Wish I could quit Vanguard for poor customer service

Post by student »

EHEngineer wrote: Tue Apr 27, 2021 11:39 pm it is quite difficult to have Vanguard transfer ownership of shares to another person/entity. I've never been successful. Take some heart in that, you're unlikely to get robbed at vanguard.
I was able to transfer it to Chase You Invest.
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Re: Wish I could quit Vanguard for poor customer service

Post by willthrill81 »

I moved all of my accounts from Vanguard to M1 Finance about a year ago and never looked back. My issue was that I didn't like how Vanguard was telling me what I could and couldn't own with my own money. I understand their motivation to protect investors, but we're adults who should be expected to do our own research, make our own decisions, and live with the consequences.
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Re: Wish I could quit Vanguard for poor customer service

Post by BabaWawa »

SnowBog wrote: Tue Apr 27, 2021 10:43 pm Umm... So why can't you quit Vanguard?

I initially opened our Backdoor Roth accounts there, added a few other accounts. I didn't find anything particularly wrong with them...

But I consolidating everything to Fidelity.
You will be very satisfied with Fidelity, especially if there is a local office to respond to any issues.
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Re: Wish I could quit Vanguard for poor customer service

Post by Parthenon »

A week and a half ago I called Fidelity to inquire about a 1035 exchange from Transamerica. The agent told me I'd get a call back from a licensed agent. When that didn't happen after several days I used their online request for a call back. As of today that hasn't happened yet either. So either they are inundated with requests or they don't really need the business. Apparently, poor customer service isn't limited to Vanguard.

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William Million
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Re: Wish I could quit Vanguard for poor customer service

Post by William Million »

Based on my personal experience, I would rank brokers this way (best to worst) in terms of customer service:

Fidelity
E*TRADE
Schwab
Merrill Edge
Ally
Vanguard

I only continue to use Vanguard for its low-cost fixed income - the best products on the market in that niche.

Given how awful and downright un-Bogle Vanguard has gotten in other regards, I wouldn't think of using them for equities or equity funds.
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LilyFleur
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Re: Wish I could quit Vanguard for poor customer service

Post by LilyFleur »

A friend of mine bought an annuity from his Fidelity advisor.

My Schwab advisor has never tried to sell me an annuity.
Seasonal
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Re: Wish I could quit Vanguard for poor customer service

Post by Seasonal »

Every time I see one of these threads, I wonder how common problems might be and how Vanguard compares to other brokerages and note that they do very well on the JD Powers surveys, for example, https://www.jdpower.com/business/press- ... tion-study They come out solidly on top in the latest version.
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Re: Wish I could quit Vanguard for poor customer service

Post by Wiggums »

Monsterflockster wrote: Tue Apr 27, 2021 11:06 pm Does anyone have good customer service now days?
I experienced delays when I called about my auto insurance company yesterday. Samething for my medical insurance provider. Long wait times.
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Re: Wish I could quit Vanguard for poor customer service

Post by randomguy »

Seasonal wrote: Wed Apr 28, 2021 11:29 am Every time I see one of these threads, I wonder how common problems might be and how Vanguard compares to other brokerages and note that they do very well on the JD Powers surveys, for example, https://www.jdpower.com/business/press- ... tion-study They come out solidly on top in the latest version.
My personal experience is that Vanguard does great with all the routine stuff. Phone wait times might be a bit long but no worse than most companies. It is when you go a bit off script things break down. Obviously we are talking small sample size (i.e. like 3 times for them and 1 for fidelity in the past 10 years) for these events but it doesn't change that they are frustrating when it happens to you.
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Re: Wish I could quit Vanguard for poor customer service

Post by radiowave »

reisner wrote: Tue Apr 27, 2021 11:01 pm Closing out my taxable account would trigger a taxable event going back to 2009. Am I wrong?
OP, even thought waiting hours for someone to pick up the phone, I lost confidence in Vanguard due to back office processes, losing checks, etc. Moved VG rollover IRAs and taxable to Schwab. the rIRAs moving fine in kind then converted VTSAX and VBTLX to the Schwab equiv. I was unable to get VG on the phone to convert the taxable VTSAX mutual fund to VTI the ETF version (this does not incur a taxable event), so moved VTSAX in kind to Schwab. This also was not a taxable event. I would have had more flexibility with VTI at Schwab for adding new funds, but since I'm transitioning to retirement soon, I can use VTSAX in taxable at Schwab for withdrawal purposes and there is no fee for selling VG funds at Schwab (it will incur the usual capital gains however).

and BTW, Schwab customer service has been excellent and responsive so far. You may be eligible for a $500 transfer bonus as well.
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ResearchMed
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Re: Wish I could quit Vanguard for poor customer service

Post by ResearchMed »

Seasonal wrote: Wed Apr 28, 2021 11:29 am Every time I see one of these threads, I wonder how common problems might be and how Vanguard compares to other brokerages and note that they do very well on the JD Powers surveys, for example, https://www.jdpower.com/business/press- ... tion-study They come out solidly on top in the latest version.
Perhaps a bit of a self-selection bias in a study like this...?

Those who "stay" with a vendor, especially when there's no monopoly, are likely to be more satisfied than those who leave.
Yes, this could happen with all of the vendors, but still, it muddies the waters a bit.

Now... if only we could randomly assign investors to financial firms - and make them stay there, of course! :shock:

:wink:

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RickBoglehead
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Re: Wish I could quit Vanguard for poor customer service

Post by RickBoglehead »

So of the people that complain that Vanguard's service is poor, how many of you have sent a written complaint to them, at least via your account's messaging system?

I've complained, in writing, to Vanguard, requesting my Flagship rep escalate the complaints to upper management. Recent complaints include improper balances in the Other Investments section (separate thread on this), and market update emails containing the wrong content (over 2 months now).

Like most companies, if you don't complain to management, then don't expect resolution. Vanguard has huge assets, if hundreds left from this forum they probably wouldn't notice.

I don't wan to move my assets because a) I dislike Fidelity, b) I hold mutual funds that I could no longer invest in if I moved, c) I don't know that being anywhere else would be any different.

I urge you to formalize your complaints to management.
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.
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mrspock
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Re: Wish I could quit Vanguard for poor customer service

Post by mrspock »

Schwab... the water is warm. The only down side (for my portfolio), I’ve seen is muni bond funds, as you can’t get state specific funds via an ETF, so it has 0.08% drag (VCAIX vs VCADX) or $80/yr on every $100k. For me it’s a few hundred bucks per year which is worth it to have better customer service.
illumination
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Re: Wish I could quit Vanguard for poor customer service

Post by illumination »

I've never really understood the allegiance here to Vanguard, they actually fired Jack Bogle. At least that's his side of the story in an interview.

He's also been highly critical of them.

https://riabiz.com/a/2013/6/14/john-bog ... -criticism

I'm not saying this should necessarily sway you, but I wouldn't feel any additional loyalty to Vanguard over being a "Boglehead". I also just had a bad experience with Vanguard even though I really wanted to give them the benefit of the doubt. I still though own their ETFs.
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gwe67
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Re: Wish I could quit Vanguard for poor customer service

Post by gwe67 »

Isn't this a rant that should be locked like the other one was earlier today?
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Makefile
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Re: Wish I could quit Vanguard for poor customer service

Post by Makefile »

reisner wrote: Tue Apr 27, 2021 10:21 pm I feel I must now dis-recommend Vanguard because of poor customer service. Starting in November of 2020 I initiated a gift of approximately 50 shares (VG no longer allows an exact dollar amount gift but only numbers of shares) from our Total Stock Market fund in an alas taxable brokerage account to a major charity. As of today, April 27, 2021, I am for the umpteenth time assured by the latest VG agent I talked to after an interminable time on hold (no call-back option, no updates as to hold time, same disgusting music) that I have answered their last little question, which by the way I had already answered at least twice before. I have been told a form requires one signature, then two, then one. I have encountered agents who were personable and perhaps knowledgeable and one yawning idiot who told me it was no problem that I had no further questions--I bit my tongue and wish I had not.

What is wrong with our Vanguard? I have 1.2 million with these dolts. The amount shouldn't matter to them, but it does to me.

Anybody else fed up?
Too bad you can't get 1980s style customer service at any of these brokers: https://www.youtube.com/watch?v=bwlNUpFCHTE
sport
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Re: Wish I could quit Vanguard for poor customer service

Post by sport »

gwe67 wrote: Wed Apr 28, 2021 1:07 pm I've never really understood the allegiance here to Vanguard...
Vanguard will not try to take advantage of me if I lose my mental acuity. Vanguard will not try to take advantage of my spouse nor my heirs. They have no expensive products to sell and their employees do not work on commission. In other words, I trust Vanguard more than the other companies.

I can just envision the following conversation at other brokers: Mrs. Sport, I am so sorry to learn of your loss. Please know that we are always here to help you with your investments. We have a portfolio management team ready to help you for only 1.5% per year. We have some proprietary funds that are particularly suitable for your situation and we are experts at timing the market. May I transfer you to our licensed insurance specialist to help you set up your new portfolio? Don't worry, we will take care of everything for you. :evil:
index2max
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Re: Wish I could quit Vanguard for poor customer service

Post by index2max »

Monsterflockster wrote: Tue Apr 27, 2021 11:06 pm Does anyone have good customer service now days?
Fidelity’s customer service for HSAs isn’t spectacular either. Their online form doesn’t provide an option to liquidate investments. Thankfully a phone rep told me about a paper form I could fill out, sign and upload to amend my original transfer, which I did.

What is stupid is that Fidelity’s customer service team responding to my secure messages apparently can’t see that I amended my original transfer by uploading that paper form. They keep telling me that I only sent in a transfer request to my employers HSA provider to liquidate the cash portion of my account. Why can’t they see the history?

In short, I think both Fidelity and Vanguard staff are overworked. Both companies have intelligent phone reps, but you don’t always get them. Any message I sent through the secure portal Fidelity requires at least one business day before a response. I think both of the big dogs are behind in their work
Last edited by index2max on Wed Apr 28, 2021 1:42 pm, edited 1 time in total.
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