PSA: Vanguard Drops The Ball (Cost Basis Issue)

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SJR
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PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by SJR » Thu Mar 15, 2018 8:53 pm

Let me start by saying that I really do appreciate Vanguard and everything that it stands for. In 2015 when I decided to leave my FA and start anew, Vanguard was where I chose to begin again. Unfortunately, I have had quite a few issues with them in the past 8 months.

1. I chose Spec ID a few years back. Last July I discovered that it was back to Average Cost and that everything I had purchased was listed as Average Cost. If I had to guess I think the switch over to brokerage accounts (something I was forced to do), may have been the culprit. Disclaimer: It could be that I imagined the switch to Spec ID years ago and they did nothing wrong. I doubt myself on this item but I'm pretty sure I did select it.

2. I transferred assets in kind to Schwab last year and instead of transferring the specified shares, they transferred everything from the 2 accounts I was transferring and closed them out. Thankfully, Schwab was able to reverse part of the transfer and have Vanguard reopen my accounts. I believe that no data was lost but I can't be sure. It was then that I noticed all my purchased lots were average cost. There was no one to talk to so I left it for the time being.

3. I transferred some assets in kind to Vanguard from Schwab last month and after receipt of the shares, I noticed that that specific fund which I already had shares of with Vanguard, was switched to Average Cost. All previous lots. I did convert that fund to Admiral Shares after the transfer was received so not exactly sure when everything went haywire. At this point though, I realized that I am not crazy and something was up.
I sent a secure message to them, and it has been about 3 weeks of back and forth. All their deadlines for a resolution have passed. Today I received a message saying that "on their (cost basis team's) original attempt, the system did not update properly". It's hard to continue to put my faith (and my money) in (with) them.

On the other hand, Schwab has been great across the board. I hold Admiral Shares though and prefer not to switch to ETF's so I'm kind of stuck using Vanguard to rebalance and purchase new shares.

Figured I would share my experience with others here. You need to be on top of your cost basis at all times, especially with Vanguard.

JBTX
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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by JBTX » Thu Mar 15, 2018 9:19 pm

I noticed a five figure transfer the other day that I didn’t remember. I was away from home. Called vanguard on phone and there was a 20 minute wait. That is pretty pathetic given how much I have invested there. Luckily I remembered what it was before i got a rep and hung up.

I rarely need to call in and don’t ask for much. I guess you get what you pay for in customer service with vanguard.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by PhilosophyAndrew » Thu Mar 15, 2018 9:49 pm

After experiencing similar ball drops, and after decades of splitting my investments between Vanguard and Fidelity, I moved all my investments to Fidelity a couple of years ago.

I still have significant holdings in Vanguard funds, but have been pleased with Fidelity’s service and am glad I consolidated to a single brokerage house.

The final straw for me with Vanguard was an egregious cost basis error that took over three months for them to fix. Not one of the many representatives I spoke with about that seemed competently professional; they mainly seemed harried and uncaring. (I know many others have had different and more positive experiences; the single Fidelity Private Client representative I’ve been assigned has been better than any of the the Vanguard Flagship representatives I rotated through over the years.)

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zaboomafoozarg
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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by zaboomafoozarg » Thu Mar 15, 2018 10:12 pm

Vanguard is like ALDI. They offer some of the lowest prices, but at the expense of service and other frills.

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GerryL
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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by GerryL » Thu Mar 15, 2018 10:19 pm

Vanguard -- or something called "the cost basis team" at Vanguard -- seems to be having a lot of trouble getting SpecID issues handled properly. I asked my rep what they are doing to address the issue as a larger problem than just what I was experiencing since many on this site have been reporting problems, but it seems their response is to keep addressing individual problems. It's unclear that they are trying to address any systemic issues.

Last fall I executed 3 limit orders on the same stock over a period of several weeks. I noticed that the 2nd one went through as FIFO and called to get it corrected. Then I was alerted to an order placed on my account -- when I knew I hadn't requested any activity -- and found they had redone my SpecID sales to FIFO. After some heated and anxious email exchanges -- and being told "we'll see if it's possible to change them back" -- the orders were put right several days later.

TheDDC
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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by TheDDC » Thu Mar 15, 2018 10:31 pm

JBTX wrote:
Thu Mar 15, 2018 9:19 pm
I noticed a five figure transfer the other day that I didn’t remember. I was away from home. Called vanguard on phone and there was a 20 minute wait. That is pretty pathetic given how much I have invested there. Luckily I remembered what it was before i got a rep and hung up.

I rarely need to call in and don’t ask for much. I guess you get what you pay for in customer service with vanguard.
If it makes you feel any better, I had a similar wait time for my > 1.0% ER funds with Ameriprise (when I was inquiring about rolling them to Vanguard and Fido).

Poor CS stinks, but at least it's less expensive at Vanguard! :sharebeer

-TheDDC

TIAX
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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by TIAX » Thu Mar 15, 2018 11:17 pm

GerryL wrote:
Thu Mar 15, 2018 10:19 pm
Vanguard -- or something called "the cost basis team" at Vanguard -- seems to be having a lot of trouble getting SpecID issues handled properly. I asked my rep what they are doing to address the issue as a larger problem than just what I was experiencing since many on this site have been reporting problems, but it seems their response is to keep addressing individual problems. It's unclear that they are trying to address any systemic issues.
Exactly. Instead of addressing the IT issue once, they manually correct these issues thousands of times.
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JBTX
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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by JBTX » Fri Mar 16, 2018 12:06 am

Luckily I don't have to deal with cost basis issues, as all my accounts at vanguard are retirement mutual fund accounts.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by CZjc1330 » Fri Mar 16, 2018 12:34 am

I have been with Vanguard for over 30 years. I have noticed (suffered thru) a change in efficiency and service over the past 10 years. The customer service people have morphed into salespeople and try very hard to have me sign up for their managed asset program. The analysis by two different persons was very amateurish and sloppy. They suggested I sell my guaranteed 3 % TIAA assets and purchase a bond fund which of course fluctuates. Etc.
I know Mr. Bogle is no longer in the chain of command but since they have drifted away from his service-oriented modus operandi, I wonder if the complaints in this discussion should be shared with him.

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GreatOdinsRaven
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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by GreatOdinsRaven » Sat Mar 17, 2018 9:51 am

GerryL wrote:
Thu Mar 15, 2018 10:19 pm
Vanguard -- or something called "the cost basis team" at Vanguard -- seems to be having a lot of trouble getting SpecID issues handled properly. I asked my rep what they are doing to address the issue as a larger problem than just what I was experiencing since many on this site have been reporting problems, but it seems their response is to keep addressing individual problems. It's unclear that they are trying to address any systemic issues.

Last fall I executed 3 limit orders on the same stock over a period of several weeks. I noticed that the 2nd one went through as FIFO and called to get it corrected. Then I was alerted to an order placed on my account -- when I knew I hadn't requested any activity -- and found they had redone my SpecID sales to FIFO. After some heated and anxious email exchanges -- and being told "we'll see if it's possible to change them back" -- the orders were put right several days later.
Have had several issues with Vanguard brokerage over the past two years, one of which has been a recurrent Spec Id problem (I select Spec ID, then complete a sale and months later get a letter from them stating it was converted from Spec ID to FIFO) and the other was a website glitch when they transitioned our mutual fund accounts to brokerage accounts. That glitch prevented me from initiating any buying or selling (and also prevented the phone rep from buying or selling from my account That took a few weeks to resolve). Weeks later I was told the problem was because my wife and I have a joint taxable account and from that account we both had automatic monthly transfers set up for our child’s 529 accounts (one for me and one for my wife). Apparently, there was a coding problem that prevented any changes being made to the account by anyone. No buying. No selling. No setting up new automated transfers, exchanges or investments.

I love Vanguard funds, but I’m not a huge fan of their brokerage. To be fair some things about their website are great and the user interface is better than my Institutional account page at TD Ameritrade.

I still use Vanguard brokerage, but only for my TSM and Mid-Cap value exposure via monthly automated investing.

Out of frustration, i ended up signing up with an advisor who charges a very low flat rate platform access fee. Then I transferred out our Roth IRAs from Vanguard to TD Ameritrade (whom we chose as custodian). I’m now using 100% DFA funds for all of our international equity exposure and DFA for 50% of our US equity exposure (the rest coming from Vanguard). I also opened up a taxable account with TD Ameritrade as the custodian and that’s where everything else goes (except for Vanguard TSM, Vanguard Mid-cap value and our Vanguard 529s).

To be fair using TD Ameritrade hasn’t been a flawless experience. At first I used TD Ameritrade for access to the iShares S&P600 SCV fund, IJS. But a few months ago that fund went from a no transaction fee fund to a $17 fee to purchase fund. Many iShares ETFs that were previously NTF were replaced by the new State Street ETFs, including a NTF S&P600 SCV fund... I was not given any notice of the pending change.

The TDA institutional interface is extremely spartan and it’s actually not a good as Vanguard’s. But I haven’t had an access or accounting problem, yet...
"The greatest enemies of the equity investor are expenses and emotions." -John C. Bogle, Little Book of Common Sense Investing. | | "Winter is coming." Lord Eddard Stark.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by alvinsch » Sat Mar 17, 2018 10:13 am

I've had specific ID problems with Vanguard regarding one specific stock for 3 years now and they still have been unable / unwilling to fix. Back in 2016 they finally acknowledged they had a software problem that didn't allow them to handle it correctly. When I make a sale I use specific ID and it shows the correct basis on my monthly statement but when I get my 1099B they change it to something else every year. On my 2017 1099B they even managed to add in a bunch of non-existent trades to the 1099B.

They said that in addition to specific ID selection, I should send them a secure message reiterating the specific ID and that would work. Of course it didn't make any difference. In the years I've been fighting this, and them admitting that it is a software problem on their part, they have NEVER been willing to issue me a correct 1099B.

I don't trade much and so far it's only been with one security so I haven't transferred out of Vanguard but I have moved some securities to Schwab. Amazing how they can get away with not having software that meets the requirements of the IRS to track cost basis.

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GreatOdinsRaven
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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by GreatOdinsRaven » Sat Mar 17, 2018 11:14 am

alvinsch wrote:
Sat Mar 17, 2018 10:13 am
I've had specific ID problems with Vanguard regarding one specific stock for 3 years now and they still have been unable / unwilling to fix. Back in 2016 they finally acknowledged they had a software problem that didn't allow them to handle it correctly. When I make a sale I use specific ID and it shows the correct basis on my monthly statement but when I get my 1099B they change it to something else every year. On my 2017 1099B they even managed to add in a bunch of non-existent trades to the 1099B.

They said that in addition to specific ID selection, I should send them a secure message reiterating the specific ID and that would work. Of course it didn't make any difference. In the years I've been fighting this, and them admitting that it is a software problem on their part, they have NEVER been willing to issue me a correct 1099B.

I don't trade much and so far it's only been with one security so I haven't transferred out of Vanguard but I have moved some securities to Schwab. Amazing how they can get away with not having software that meets the requirements of the IRS to track cost basis.
How has your experience been at Schwab? I almost chose them as my custodian, but their fees for DFA purchases were more than TDA (TDA allows me to make automated DFA purchases, biweekly, for free. Unfortunately, non-automated purchases of DFA cost $27. Fidelity had a similar fee structure PLUS an extra $25 for DFA purchases every time a transaction took place!).

GOR
"The greatest enemies of the equity investor are expenses and emotions." -John C. Bogle, Little Book of Common Sense Investing. | | "Winter is coming." Lord Eddard Stark.

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alvinsch
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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by alvinsch » Sat Mar 17, 2018 2:09 pm

GreatOdinsRaven wrote:
Sat Mar 17, 2018 11:14 am
How has your experience been at Schwab? I almost chose them as my custodian, but their fees for DFA purchases were more than TDA (TDA allows me to make automated DFA purchases, biweekly, for free. Unfortunately, non-automated purchases of DFA cost $27. Fidelity had a similar fee structure PLUS an extra $25 for DFA purchases every time a transaction took place!).

GOR
I'd already had a legacy employee stock purchase plan that used them so I had an account already. Plus they were willing to handle a MLP's discount reinvestment plan (5%) so I transferred those shares to Schwab. Having said that, they evidently set the wrong codes to the partnerships K1 accounting firm that made the unit transfer look like a repurchase. In their favor was that they fixed it quickly so within a week I had a new correct K1.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by stan1 » Sat Mar 17, 2018 3:20 pm

I'm not sure if hardball or controversial questions are allowed when the Bogleheads Conference meets with current Vanguard executives -- but the accurate cost basis discussion has come up often enough that I'd really like to hear Vanguard management's perspective on it. It comes across like they do not take accurate record keeping serious and I'd think an executive at any financial services company would be losing a lot of sleep over that because if cost basis is incorrect what else is?

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by anil686 » Sat Mar 17, 2018 3:43 pm

stan1 wrote:
Sat Mar 17, 2018 3:20 pm
I'm not sure if hardball or controversial questions are allowed when the Bogleheads Conference meets with current Vanguard executives -- but the accurate cost basis discussion has come up often enough that I'd really like to hear Vanguard management's perspective on it. It comes across like they do not take accurate record keeping serious and I'd think an executive at any financial services company would be losing a lot of sleep over that because if cost basis is incorrect what else is?

I agree - I have my accounts at VG and now go over my statements 2 and three times b/c I am expecting errors. I have been fortunate - but I expect my luck to run out when I read threads like these...

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by GerryL » Sat Mar 17, 2018 9:02 pm

stan1 wrote:
Sat Mar 17, 2018 3:20 pm
I'm not sure if hardball or controversial questions are allowed when the Bogleheads Conference meets with current Vanguard executives -- but the accurate cost basis discussion has come up often enough that I'd really like to hear Vanguard management's perspective on it. It comes across like they do not take accurate record keeping serious and I'd think an executive at any financial services company would be losing a lot of sleep over that because if cost basis is incorrect what else is?
I have to wonder whether management has even been made aware of this problem. It would be interesting to find out. I won't be at the conference in October, but I sure would like to hear how they respond if this issue is raised. This one-off response to a repeat problem has to be costing them money.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by sambb » Sat Mar 17, 2018 9:05 pm

Yet another example of vanguard's leadership failure with regards to IT and service. It is unfortunate, and one has to wonder what they are covering up. Are these signs of a greater flaw? I hope not. Great company and great premise, but you have to wonder why this happens.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by grabiner » Tue Mar 20, 2018 7:03 pm

alvinsch wrote:
Sat Mar 17, 2018 10:13 am
They said that in addition to specific ID selection, I should send them a secure message reiterating the specific ID and that would work. Of course it didn't make any difference. In the years I've been fighting this, and them admitting that it is a software problem on their part, they have NEVER been willing to issue me a correct 1099B.
The secure message is the right way to deal with this. If you print out the secure message, and Vanguard's acknowledgement, you have proof that you requested a transaction and Vanguard confirmed it. Now, if you report on your Form 8949 that the cost basis reported by Vanguard was incorrect, and the IRS audits you, you have evidence of the transaction you actually requested. (As always, do not treat anything on this forum as tax advice; ask your tax advisor whether you have adequate documentation.)
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GerryL
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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by GerryL » Tue Mar 20, 2018 7:23 pm

grabiner wrote:
Tue Mar 20, 2018 7:03 pm
alvinsch wrote:
Sat Mar 17, 2018 10:13 am
They said that in addition to specific ID selection, I should send them a secure message reiterating the specific ID and that would work. Of course it didn't make any difference. In the years I've been fighting this, and them admitting that it is a software problem on their part, they have NEVER been willing to issue me a correct 1099B.
The secure message is the right way to deal with this. If you print out the secure message, and Vanguard's acknowledgement, you have proof that you requested a transaction and Vanguard confirmed it. Now, if you report on your Form 8949 that the cost basis reported by Vanguard was incorrect, and the IRS audits you, you have evidence of the transaction you actually requested. (As always, do not treat anything on this forum as tax advice; ask your tax advisor whether you have adequate documentation.)
Whenever I do an order to sell -- and so far I have only sold stock, on limit orders -- I capture a screen print of the order, which shows the specific IDs I am selling. That screen shot came in handy when I had to get on their case about fixing the way the sales were documented. Sent it along in the secure message to show them that it was not a mistake on my part.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by ShadowRegent » Tue Mar 20, 2018 9:10 pm

I have experienced similar cost basis issues including one when converting several mutual funds to ETF shares where they swapped around the costs of lots between different funds. I ended up with wildly incorrect cost basis information (something like -75% on one fund, +350% on another, and so forth). I supplied a map of exactly what got transposed (it seemed like the type of error you'd expect if someone was manually entering records), but it took at least a month for Resolution Services and the Cost Basis team to resolve and they never called or wrote back to let me know it was fixed.

I like Vanguard's funds, but I only keep tax-advantaged accounts with Vanguard's brokerage as a result. As many others have said, it's clear that there are systemic issues with cost basis tracking that don't seem to be getting resolved. Every time I've thought about giving Vanguard's brokerage another whirl, I come across yet another thread like this one... I do really hope they invest in resolving these issues-- accuracy of records is essential for a brokerage.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by SJR » Tue Mar 20, 2018 9:17 pm

SJR wrote:
Thu Mar 15, 2018 8:53 pm
Let me start by saying that I really do appreciate Vanguard and everything that it stands for. In 2015 when I decided to leave my FA and start anew, Vanguard was where I chose to begin again. Unfortunately, I have had quite a few issues with them in the past 8 months.

1. I chose Spec ID a few years back. Last July I discovered that it was back to Average Cost and that everything I had purchased was listed as Average Cost. If I had to guess I think the switch over to brokerage accounts (something I was forced to do), may have been the culprit. Disclaimer: It could be that I imagined the switch to Spec ID years ago and they did nothing wrong. I doubt myself on this item but I'm pretty sure I did select it.

2. I transferred assets in kind to Schwab last year and instead of transferring the specified shares, they transferred everything from the 2 accounts I was transferring and closed them out. Thankfully, Schwab was able to reverse part of the transfer and have Vanguard reopen my accounts. I believe that no data was lost but I can't be sure. It was then that I noticed all my purchased lots were average cost. There was no one to talk to so I left it for the time being.

3. I transferred some assets in kind to Vanguard from Schwab last month and after receipt of the shares, I noticed that that specific fund which I already had shares of with Vanguard, was switched to Average Cost. All previous lots. I did convert that fund to Admiral Shares after the transfer was received so not exactly sure when everything went haywire. At this point though, I realized that I am not crazy and something was up.
I sent a secure message to them, and it has been about 3 weeks of back and forth. All their deadlines for a resolution have passed. Today I received a message saying that "on their (cost basis team's) original attempt, the system did not update properly". It's hard to continue to put my faith (and my money) in (with) them.

On the other hand, Schwab has been great across the board. I hold Admiral Shares though and prefer not to switch to ETF's so I'm kind of stuck using Vanguard to rebalance and purchase new shares.

Figured I would share my experience with others here. You need to be on top of your cost basis at all times, especially with Vanguard.
I spoke with a fellow in their resolutions team yesterday, and what he told me is that whenever you convert Investor shares to Admiral shares, the system resets the cost basis to "average cost basis". He explained that you then have the option of requesting an "exception" for them to put it back to Spec ID. I don't know if this is actually the truth, but it does make some sense to me. Perhaps that's what happened years ago and I didn't notice it then. Anyhow, he sent my requests to fix everything (new and old) over to the cost basis team. We shall see how this plays out. Either way, it's utterly preposterous that they don't tell you this at the time of conversion. (and if they do and I somehow missed it, it's definitely not in big bold letters that one can easily see.... end rant)

In short, if you sell, convert, or transfer anything (in or out of VG), make sure to double check that nothing was changed. It seems as long as you stay at VG and only buy new shares, the system spares you the grief of making cost basis decisions for you.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by UpperNwGuy » Tue Mar 20, 2018 9:34 pm

SJR wrote:
Tue Mar 20, 2018 9:17 pm
I spoke with a fellow in their resolutions team yesterday, and what he told me is that whenever you convert Investor shares to Admiral shares, the system resets the cost basis to "average cost basis". He explained that you then have the option of requesting an "exception" for them to put it back to Spec ID. I don't know if this is actually the truth, but it does make some sense to me. Perhaps that's what happened years ago and I didn't notice it then. Anyhow, he sent my requests to fix everything (new and old) over to the cost basis team. We shall see how this plays out. Either way, it's utterly preposterous that they don't tell you this at the time of conversion. (and if they do and I somehow missed it, it's definitely not in big bold letters that one can easily see.... end rant)
One of my funds will be eligible for Admiral Shares in a couple of months, and I'm using Spec ID. Is this what I have to look forward to? Please keep us informed of how promptly Vanguard fixes your cost basis.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by Doc » Wed Mar 21, 2018 8:15 am

SJR wrote:
Tue Mar 20, 2018 9:17 pm
I spoke with a fellow in their resolutions team yesterday, and what he told me is that whenever you convert Investor shares to Admiral shares, the system resets the cost basis to "average cost basis".
Vague memory: I think I had a fund "change itself" to average cost during a share class change. I caught it before I made any trades and was able to switch it to Spec ID on the account maintenance page, <cost basis method> tab without any problem. However there was only one lot involved.
A scientist looks for THE answer to a problem, an engineer looks for AN answer and lawyers ONLY have opinions. Investing is not a science.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by House Blend » Wed Mar 21, 2018 8:53 am

SJR wrote:
Tue Mar 20, 2018 9:17 pm
I spoke with a fellow in their resolutions team yesterday, and what he told me is that whenever you convert Investor shares to Admiral shares, the system resets the cost basis to "average cost basis". He explained that you then have the option of requesting an "exception" for them to put it back to Spec ID. I don't know if this is actually the truth, but it does make some sense to me.
I would take that explanation with a grain or two of salt.

Another datum, from a mutual-funds-only account holder:

I've done a few Investor -> Admiral conversions, but only one since the advent of covered shares. It was in 2014, and involved going from VWITX to VWIUX (intermediate tax-exempt). Perhaps this is an easier case from VG's perspective, since both classes of this fund have the same price per share.

I had zero hitches with the conversion, and certainly would have noticed *immediately* if they had monkeyed with my SpecID election and switched my individual lots to average basis.

It's obviously possible that they have [sarcasm alert] "improved" their procedures since 2014, or have limited the scope of their "innovations" to their brokerage customers.

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Re: PSA: Vanguard Drops The Ball (Cost Basis Issue)

Post by SJR » Thu May 24, 2018 4:02 pm

UpperNwGuy wrote:
Tue Mar 20, 2018 9:34 pm
SJR wrote:
Tue Mar 20, 2018 9:17 pm
I spoke with a fellow in their resolutions team yesterday, and what he told me is that whenever you convert Investor shares to Admiral shares, the system resets the cost basis to "average cost basis". He explained that you then have the option of requesting an "exception" for them to put it back to Spec ID. I don't know if this is actually the truth, but it does make some sense to me. Perhaps that's what happened years ago and I didn't notice it then. Anyhow, he sent my requests to fix everything (new and old) over to the cost basis team. We shall see how this plays out. Either way, it's utterly preposterous that they don't tell you this at the time of conversion. (and if they do and I somehow missed it, it's definitely not in big bold letters that one can easily see.... end rant)
One of my funds will be eligible for Admiral Shares in a couple of months, and I'm using Spec ID. Is this what I have to look forward to? Please keep us informed of how promptly Vanguard fixes your cost basis.
Hi, and sorry for the delayed response. They updated it within a couple of weeks. It was a hassle but it all worked out. They clearly don't know what they are talking about though (the resolutions team). The fellow I dealt with just parrotted my requests over to the cost basis team. I'm now afraid to do anything with Vanguard other than buy more. (ie scared to transfer in or out shares, or any other "monkey business")

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