Vanguard brokerage account transition

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AQ
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Vanguard brokerage account transition

Post by AQ » Sat Feb 23, 2019 4:41 pm

A while ago, this forum has a lot of complaints about many issues when they transfer from Vanguard mutual fund platform to their brokerage platform. So I decided to hold out and have not made the change yet. Things seem quiet out now... Does that suggest the brokerage platform stabilize? Now I'm asked again to move and I'd like to hold out as long as possible; but not sure if I have the option or not.

jebmke
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Re: Vanguard brokerage account transition

Post by jebmke » Sat Feb 23, 2019 5:22 pm

AQ wrote:
Sat Feb 23, 2019 4:41 pm
A while ago, this forum has a lot of complaints about many issues when they transfer from Vanguard mutual fund platform to their brokerage platform. So I decided to hold out and have not made the change yet. Things seem quiet out now... Does that suggest the brokerage platform stabilize? Now I'm asked again to move and I'd like to hold out as long as possible; but not sure if I have the option or not.
As far as I know, the objections to the brokerage vs. mutual fund structure were not mainly issues about the brokerage platform performance or stability but fundamental issues about the UI and some of the ways that money flows were treated. As far as I know, none of the structural issues cited have changed. I think they are inherent in the way brokerage accounts work vs. mutual funds.
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Artsdoctor
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Re: Vanguard brokerage account transition

Post by Artsdoctor » Sat Feb 23, 2019 5:37 pm

If you don't need to switch to the Brokerage Platform, don't do it. It would have no advantages for you and might have disadvantages.

It's not that there's an actual problem with the Brokerage Platform, it's just that it add unnecessary steps to transactions which aren't necessary if you're only using mutual funds. (For example, you won't be able to automatically reinvest dividends from one mutual fund directly into another mutual fund; you may be required to add to the account through the settlement fund and not directly to a mutual fund, etc.) These "issues" are really minor.

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Doom&Gloom
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Re: Vanguard brokerage account transition

Post by Doom&Gloom » Sat Feb 23, 2019 5:41 pm

I was a hold-out primarily due to Vanguard's nagging and the comments on this site. I recently transmogrified my Rollover IRA account expecting chaos. Much to my surprise the transition appeared seamless to me. All my settings were retained. I did have to click a few authorization forms. I noticed no subsequent changes in the UI.

I do not do any transfers among accounts, so I can't comment on that function. Settings for scheduled periodic transfers to my bank were retained. Settings for automatic RMD withdrawals were retained. My "re-invest" settings were retained. Beneficiaries, etc were retained.

A poster in an earlier thread voiced a concern that they might accidentally convert from MF to brokerage. I don't think that is possible at all as there are a few screens one must click through to continue the transition. The trail is well-marked.

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Re: Vanguard brokerage account transition

Post by radiowave » Sat Feb 23, 2019 5:43 pm

One negative switching to the brokerage is that it takes and additional 2-3 weeks to get your tax statement. If you don't have a taxable account, not an issue, but a bit annoying I had to wait a couple weeks to file my taxes this year waiting for Vanguard.
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Re: Vanguard brokerage account transition

Post by jebmke » Sat Feb 23, 2019 5:50 pm

radiowave wrote:
Sat Feb 23, 2019 5:43 pm
One negative switching to the brokerage is that it takes and additional 2-3 weeks to get your tax statement. If you don't have a taxable account, not an issue, but a bit annoying I had to wait a couple weeks to file my taxes this year waiting for Vanguard.
My brokerage statement which held only a handful of common stocks and VG ETFs came out about a week after the end of January. We have a joint one that holds some non-VG mutual funds that took longer but I think that was due to the delay of info from the non-VG fund company.
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Re: Vanguard brokerage account transition

Post by AllieTB1323 » Sat Feb 23, 2019 6:10 pm

radiowave wrote:
Sat Feb 23, 2019 5:43 pm
One negative switching to the brokerage is that it takes and additional 2-3 weeks to get your tax statement. If you don't have a taxable account, not an issue, but a bit annoying I had to wait a couple weeks to file my taxes this year waiting for Vanguard.
I downloaded my VG Brokerage 1099 on January 29, in fact the VG 1099 was a week earlier than the Fido document.

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Re: Vanguard brokerage account transition

Post by Corgitodd » Sat Feb 23, 2019 7:46 pm

I spoke with a VG rep who indicated that converting to brokerage added more SPIC (?) protection. The protection is based per account. So if you have a trust account, and an individual account it adds protection per account. Not sire if this applies to money markets accounts. I asked her where this was in writing and she didnt seem to know, but that she would send it through to customer suggestions.

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Re: Vanguard brokerage account transition

Post by radiowave » Sun Feb 24, 2019 12:31 am

AllieTB1323 wrote:
Sat Feb 23, 2019 6:10 pm
radiowave wrote:
Sat Feb 23, 2019 5:43 pm
One negative switching to the brokerage is that it takes and additional 2-3 weeks to get your tax statement. If you don't have a taxable account, not an issue, but a bit annoying I had to wait a couple weeks to file my taxes this year waiting for Vanguard.
I downloaded my VG Brokerage 1099 on January 29, in fact the VG 1099 was a week earlier than the Fido document.
You must have the old account, I kept looking every day, took until second week Feb to get tax documents.
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Re: Vanguard brokerage account transition

Post by jebmke » Sun Feb 24, 2019 10:17 am

radiowave wrote:
Sun Feb 24, 2019 12:31 am
You must have the old account, I kept looking every day, took until second week Feb to get tax documents.
I don't think there is "old" vs."new" with respect to brokerage accounts. The timing may be a function of what is held in the brokerage account."
When you discover that you are riding a dead horse, the best strategy is to dismount.

Corgitodd
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Re: Vanguard brokerage account transition

Post by Corgitodd » Sun Feb 24, 2019 11:35 am

When I did the transition, it automatically reset ALL my funds to “reinvest”. I had to manually go back and set certain funds back to “cash”.

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Re: Vanguard brokerage account transition

Post by Wiggums » Sun Feb 24, 2019 11:57 am

There are some minor changes to the UI. Also some differences to the transactional workflow. In part due to the Presence of a settlement account. You can’t convert to a brokerage account without acknowledging the change if that is your concern. In summary, I’m fine with the brokerage account.

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Re: Vanguard brokerage account transition

Post by BigJohn » Mon Feb 25, 2019 12:21 am

jebmke wrote:
Sun Feb 24, 2019 10:17 am
radiowave wrote:
Sun Feb 24, 2019 12:31 am
You must have the old account, I kept looking every day, took until second week Feb to get tax documents.
I don't think there is "old" vs."new" with respect to brokerage accounts. The timing may be a function of what is held in the brokerage account."
I have brokerage accounts opened less than a year but received my consolidated statement around 1/23. I asked my Flagship rep about it and she indicated that if the account held simple assets that were unlikely to have late results or changes they were issuing tax statements earlier this year. My account only holds VG index stock funds, a VG muni fund and some large cap individual stocks.

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VG pop-up: “Your Account Needs to be Transitioned”

Post by CoastalWinds » Mon Aug 05, 2019 4:15 pm

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

I logged into my VG account today and immediately was presented with the following pop-up message:

“Action Needed: Your Account Needs to be Transitioned. We’re retiring our old investment platform and we need you to transition to our new platform. It only takes a few minutes.”

Has anyone else encountered this and/or know what it’s all about? Since I don’t currently understand what it’s about, I closed out of the browser and did not proceed any further. I would like to better understand what the transition is and it’s implications.

Thank you for your help.

delamer
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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by delamer » Mon Aug 05, 2019 4:20 pm

Yes, this is happening to those of us who held Vanguard funds outside of a brokerage account.

Here’s the details: https://www.vanguard.com/pdf/vbafqm.pdf

And here’s an earlier thread on the same topic: viewtopic.php?t=273858#p4399085

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by jebmke » Mon Aug 05, 2019 4:21 pm

They are trying to encourage people to change from their mutual fund platform to the brokerage account platform. I have transitioned a couple of accounts but not all of them. In our case, the differences are not meaningful. Some people object to some of the characteristics of the brokerage platform.
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Tamarind
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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by Tamarind » Mon Aug 05, 2019 4:21 pm

They want to transition you to a brokerage account instead of your current mutual fund only account. All new accounts have been brokerage accounts for several years after a big technology upgrade, but they are slowly nudging harder to get long-time customers to agree to transition. You can still buy mutual funds on the new platform. For most users it is a non-event. Someone who has been through will likely be song shortly to let you know about any adverse effects.

You can ignore this for now if you don't want to bother, but you can also just click the button and be done with it (or call Vanguard customer support if you want a human to verify it's legit). If you ignore it, eventually they will force you to migrate, but that might be some time yet in the future.

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by MoneyMarathon » Mon Aug 05, 2019 4:25 pm

I once used a mutual fund only account at Vanguard because I was working for a registered financial advisor and it helped for compliance. They "nudged" me a while ago, and I moved (no longer work there). However, for most people, there's practically no difference in moving to a brokerage account.

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by retiredjg » Mon Aug 05, 2019 4:31 pm

CoastalWinds wrote:
Mon Aug 05, 2019 4:15 pm
“Action Needed: Your Account Needs to be Transitioned. We’re retiring our old investment platform and we need you to transition to our new platform. It only takes a few minutes.”
I got a very similar (maybe identical) message recently. Might have been logging on or in an email - I don't remember which.

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by Gnirk » Mon Aug 05, 2019 4:38 pm

I'm putting it off as long a possible for several reasons:

*The brokerage account doesn't allow us to automatically invest dividends from one fund to another like we currently do in the Mutual Fund accounts. In the brokerage account, dividends would have to be deposited into the cash account first, then I would have to manually purchase shares in the new fund the next day or later, depending on if funds go to a settlement fund firs, then cash. Majority of our portfolios are in taxable accounts, not tax-deferred.

*Since i am the agent on several family member's account, we will be required to submit new paperwork for each member to continue on the brokerage account. Pain in the patootie.

*Brokerage account 1099 is available much later than the mutual fund account 1099.

*I understand the switch will change all funds to automatically "reinvest", which means more housekeeping because currently some are, some are cash, some are reinvest in other mutual funds.

I personally find no advantage to switching to the Brokerage Account.
Yes, I'm spoiled.

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by student » Mon Aug 05, 2019 4:46 pm

I also do not intend to move to the brokerage side unless they force me to. My main reason is I worry about Vanguard computing the cost basis correctly.

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by Trader Joe » Mon Aug 05, 2019 7:16 pm

CoastalWinds wrote:
Mon Aug 05, 2019 4:15 pm
I logged into my VG account today and immediately was presented with the following pop-up message:

“Action Needed: Your Account Needs to be Transitioned. We’re retiring our old investment platform and we need you to transition to our new platform. It only takes a few minutes.”

Has anyone else encountered this and/or know what it’s all about? Since I don’t currently understand what it’s about, I closed out of the browser and did not proceed any further. I would like to better understand what the transition is and it’s implications.

Thank you for your help.
I have encountered this message for at least the last 6 months (most likely a lot longer). I will never transition.

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by Good Listener » Mon Aug 05, 2019 7:32 pm

Gnirk wrote:
Mon Aug 05, 2019 4:38 pm
I'm putting it off as long a possible for several reasons:

*The brokerage account doesn't allow us to automatically invest dividends from one fund to another like we currently do in the Mutual Fund accounts. In the brokerage account, dividends would have to be deposited into the cash account first, then I would have to manually purchase shares in the new fund the next day or later, depending on if funds go to a settlement fund firs, then cash. Majority of our portfolios are in taxable accounts, not tax-deferred.

*Since i am the agent on several family member's account, we will be required to submit new paperwork for each member to continue on the brokerage account. Pain in the patootie.

*Brokerage account 1099 is available much later than the mutual fund account 1099.

*I understand the switch will change all funds to automatically "reinvest", which means more housekeeping because currently some are, some are cash, some are reinvest in other mutual funds.

I personally find no advantage to switching to the Brokerage Account.
Yes, I'm spoiled.
You said it all. Well stated.

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by retiredjg » Mon Aug 05, 2019 7:46 pm

Just out of curiosity, do brokerage accounts at other providers have this "sweep" account thing? Or is that a Vanguard thing?

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by HueyLD » Mon Aug 05, 2019 7:54 pm

retiredjg wrote:
Mon Aug 05, 2019 7:46 pm
Just out of curiosity, do brokerage accounts at other providers have this "sweep" account thing? Or is that a Vanguard thing?
Yes, it is pretty much industry standard.

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by aspirit » Mon Aug 05, 2019 7:56 pm

Good Listener wrote:
Mon Aug 05, 2019 7:32 pm
Gnirk wrote:
Mon Aug 05, 2019 4:38 pm
I'm putting it off as long a possible for several reasons:

*The brokerage account doesn't allow us to automatically invest dividends from one fund to another like we currently do in the Mutual Fund accounts. In the brokerage account, dividends would have to be deposited into the cash account first, then I would have to manually purchase shares in the new fund the next day or later, depending on if funds go to a settlement fund firs, then cash. Majority of our portfolios are in taxable accounts, not tax-deferred.

*Since i am the agent on several family member's account, we will be required to submit new paperwork for each member to continue on the brokerage account. Pain in the patootie.

*Brokerage account 1099 is available much later than the mutual fund account 1099.

*I understand the switch will change all funds to automatically "reinvest", which means more housekeeping because currently some are, some are cash, some are reinvest in other mutual funds.

I personally find no advantage to switching to the Brokerage Account.
Yes, I'm spoiled.
You said it all. Well stated.
Well put:
Additionally :
After hours calls (standard market hours 9:30-4:30) on VG accounts held in brokerages cannot be not be fully addressed till the next session (brokerage is unavailable) when you must call back to speak to the brokerage directly. IME
Last edited by aspirit on Mon Aug 05, 2019 8:04 pm, edited 1 time in total.
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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by retiredjg » Mon Aug 05, 2019 8:01 pm

HueyLD wrote:
Mon Aug 05, 2019 7:54 pm
retiredjg wrote:
Mon Aug 05, 2019 7:46 pm
Just out of curiosity, do brokerage accounts at other providers have this "sweep" account thing? Or is that a Vanguard thing?
Yes, it is pretty much industry standard.
I guess I meant "settlement" account rather than "sweep" thing, but...any idea why Vanguard's generate so much discontent and I don't recall even hearing of them from other providers?

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by nisiprius » Mon Aug 05, 2019 8:05 pm

I'm putting it off. I am still unclear on how much "feature parity" there is between traditional mutual fund accounts and brokerage accounts. I'm pretty sure some functionality is lost, but I don't know what it is, exactly. I currently have an automatic RMD withdrawal set up, which draws proportionally from all mutual funds (and yes, that's what I want to do). On the one hand I'm sure you can do this with the new platform; on the other hand, I figure there's a good chance of a glitch in transitioning to the brokerage platform.

Incidentally, they used to refer to it as "upgrading." Now they just call it "transitioning." Interesting, that. It seems like the upgrade has been downgraded.
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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by abyan » Mon Aug 05, 2019 8:18 pm

Gnirk wrote:
Mon Aug 05, 2019 4:38 pm
*Since i am the agent on several family member's account, we will be required to submit new paperwork for each member to continue on the brokerage account. Pain in the patootie.
This is why I've been avoiding this. I'm an agent on my mom's account, and it was LIVING HELL getting the agent paperwork done. Vanguard kept screwing it up. And it was definitely Vanguard's fault. I had them walk me through how to fill out the paperwork, on the phone, line by line, and they screwed it up repeatedly. We had to repeat the process 3 or 4 times. So I'm not looking forward to doing that again. (That btw is my Vanguard horror story for folks who wonder if their customer service is slipping. I find it very hit or miss -- more hit than miss, but still there's no excuse for that many people telling me the wrong way to fill out the agency forms.)

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by HueyLD » Mon Aug 05, 2019 8:46 pm

retiredjg wrote:
Mon Aug 05, 2019 8:01 pm
HueyLD wrote:
Mon Aug 05, 2019 7:54 pm
retiredjg wrote:
Mon Aug 05, 2019 7:46 pm
Just out of curiosity, do brokerage accounts at other providers have this "sweep" account thing? Or is that a Vanguard thing?
Yes, it is pretty much industry standard.
I guess I meant "settlement" account rather than "sweep" thing, but...any idea why Vanguard's generate so much discontent and I don't recall even hearing of them from other providers?
I am guessing here. I think that Vanguard has not done a good job educating existing customers, especially those who have owned mutual funds only accounts for a long time.

The loss of the ability to reinvest distributions from one fund to another seems to be among the biggest complaints. And for unknown reasons, some paper work has to be redone (e.g. agent authorization) and that also has not been communicated too well.

All I can say is that I hope Vanguard will learn from its mistakes. Younger and shorter tenured customers may not be so forgiving as old timers.

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Re: VG pop-up: “Your Account Needs to be Transitioned”

Post by arcticpineapplecorp. » Mon Aug 05, 2019 9:04 pm

I'm in the traditional account as well and haven't yet upgraded, transitioned, migrated or whatever. I actually had Vanguard call me at home one evening to try to get me to do the conversion. I declined.

a year ago my mother moved her IRAs (Roth and Trad) to Vanguard in the target date retirement income fund (they were just in low yielding cds at two separate banks prior). Thought the idea of consolidation along with higher returns (with some additional risk, but still a conservate, high quality, well diversified fund of funds) was appealing.

They put her in the brokerage account obviously, because it was new.

My question is in the future if my brother and I inherit these IRAs do you think Vanguard will make me transition at that point since my mother's IRAs are in the brokerage even though mine aren't?

I just thought this might be a sneaky way for them to say something like, "Well because her accounts are in brokerage, you've got to set up brokerage to get the inherited IRAs".

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Re: Vanguard brokerage account transition

Post by LadyGeek » Mon Aug 05, 2019 9:22 pm

I merged CoastalWinds's thread into the on-going discussion. The combined thread is now in the Investing - Theory, News & General forum (general discussion).
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Re: Vanguard brokerage account transition

Post by LadyGeek » Mon Aug 05, 2019 9:23 pm

I also removed an off-topic post. Please stay focused on the investing aspects.
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AQ
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Re: Vanguard brokerage account transition

Post by AQ » Mon Aug 05, 2019 9:31 pm

I just wish I could keep my mutual fund account indefinitely, though not sure if someday Vanguard will force us to 'transition'...

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Re: Vanguard brokerage account transition

Post by koala » Mon Aug 05, 2019 10:57 pm

I’ve been getting the same pop-up message, which has caused several questions to pop-up in my mind:

What’s in it for Vanguard? It must improve their bottom-line, or why go to all the trouble and irritate so many investors? Where would any cost-savings come from (increased fees, loads, commissions, etc.)? The Disclosure Statement says there will be no new or increased fees but I may have missed some fine print. Or maybe they just expect increased efficiency in the new platform?

Will the mutual fund prospectuses be the same in mutual fund accounts vs. brokerage accounts? I just wonder if there will be any surprise changes in fund characteristics.

If everyone is moved from The Vanguard Group, Inc. into Vanguard Marketing Corporation, is the Vanguard Group going away? Did Jack Bogle (RIP) voice any opinions on this?

SIPC coverage does sound like a benefit, but why can’t SIPC coverage be applied to mutual fund accounts in the “old platform”?

For many of the reasons noted in previous posts, I’m in the “Hell no, we won’t go” camp for now. But as AQ asked, I wonder how long we can hold out before being forced to transition into brokerage accounts. Ultimately, they can force us, can’t they?

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Re: Vanguard brokerage account transition

Post by House Blend » Tue Aug 06, 2019 2:40 pm

koala wrote:
Mon Aug 05, 2019 10:57 pm
Will the mutual fund prospectuses be the same in mutual fund accounts vs. brokerage accounts? I just wonder if there will be any surprise changes in fund characteristics.
Any changes in prospectuses have already occurred.

Look for a paragraph or two that discusses "If you hold mutual fund shares directly with Vanguard,..." followed by a paragraph or two to the effect that if you hold shares of Mutual Fund X through a brokerage, then this doesn't apply and you should contact your broker regarding their policies.
SIPC coverage does sound like a benefit, but why can’t SIPC coverage be applied to mutual fund accounts in the “old platform”?
Sadly, this is marketing FUD (Fear, Uncertainty, Doubt) from Vanguard to induce you to switch. The reality is that

1. SIPC insurance is close to worthless if you are using any name-brand brokerage. Worthless in the sense that every reputable brokerage has it, so it is not a point of differentation. (If your brokerage *doesn't* have SIPC coverage, that would be a red flag...)

2. Whatever bad, uninsured things you can imagine might happen to your mutual funds held in your Old School mutual fund only account can also happen in your brokerage account, with or without SIPC coverage. In other words, SIPC coverage is protection only against bad things that your broker might do. If you don't have a broker, you don't need SIPC coverage.
For many of the reasons noted in previous posts, I’m in the “Hell no, we won’t go” camp for now. But as AQ asked, I wonder how long we can hold out before being forced to transition into brokerage accounts. Ultimately, they can force us, can’t they?
Depends on what you mean by "force". No brokerage can open an account in your name without your permission. And that's what would be happening. You'd be opening an account and transferring assets.

What they can do is [Tony Soprano voice] make you an offer that you can't refuse. For example, they can start taking away some of the features that you rely on. They can start charging fees for mutual fund accounts. I think they could even wind down the operation, meaning that you would be forced to transfer your assets *somewhere*, not necessarily Vanguard.

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Re: Vanguard brokerage account transition

Post by BigJohn » Tue Aug 06, 2019 5:10 pm

House Blend wrote:
Tue Aug 06, 2019 2:40 pm
What they can do is [Tony Soprano voice] make you an offer that you can't refuse. For example, they can start taking away some of the features that you rely on. They can start charging fees for mutual fund accounts. I think they could even wind down the operation, meaning that you would be forced to transfer your assets *somewhere*, not necessarily Vanguard.
Given VG’s philosophy of paying for the services you use without loss leaders or subsidies, at some point I think it makes good sense to charge a maintenance fee for the old style account. Those that value the differences can/should pay to maintain an old legacy system. If removal of features will lower overhead cost (eg check writing) then that would make sense at some point as well. After all, it’s not like a mutual fund account is industry standard and they are asking you to go where no one has gone before. In fact, as far as I know, no other major brokerage offers such a system.

FWIW, while I wasn’t an early adopter, once they got the bugs worked out I have transitioned a half dozen accounts without any issue. Yes, you have to verify some accounts settings and reestablish check writing but that’s a one time task and takes all of 15 minutes. Yes, there are some feature differences but I don’t think you’ll find those features elsewhere either (eg reinvest in another fund, early 1099).

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AQ
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Re: Vanguard brokerage account transition

Post by AQ » Wed Aug 07, 2019 12:17 am

A few people mentioned they transited some of their accounts. I also have a taxable account, and a couple of IRA with Vanguard. So it's not a all or nothing transition? And one could, say, transit an IRA to the brokerage side while keeping the rest in the mutual fund side? Does that require two sets of login credentials as well as two sets of statements then?

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Re: Vanguard brokerage account transition

Post by Dead Man Walking » Wed Aug 07, 2019 1:53 am

I have read all of the threads about the transition on this website. Many have made the argument that there is a cost to maintain the old platform. To date no one has documented that this is true. Vanguard is notorious for their poor customer service. I would suggest that this is just another example of their ineptness. Perhaps Vanguard is planning to move their customer service offshore and having a singular platform would be easier to train offshore customer service representatives. I would think that offshore customer service providers would be cheaper than US based customer service representatives. Costs do matter!

DMW

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Re: Vanguard brokerage account transition

Post by BigJohn » Wed Aug 07, 2019 4:48 am

AQ wrote:
Wed Aug 07, 2019 12:17 am
A few people mentioned they transited some of their accounts. I also have a taxable account, and a couple of IRA with Vanguard. So it's not a all or nothing transition? And one could, say, transit an IRA to the brokerage side while keeping the rest in the mutual fund side? Does that require two sets of login credentials as well as two sets of statements then?
I transitioned my accounts in stages and was always able to access both types of accounts with the same login ID/password. However, if you have both a tIRA and a Roth, you cannot do conversions on-line if they are not both brokerage accounts. Conversions are still possible, it just requires either a paper form or a phone call. This in what prompted my first transition as my Roth was new and a brokerage account while my tIRA was on the old mutual fund platform.

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Re: Vanguard brokerage account transition

Post by retiredjg » Wed Aug 07, 2019 5:59 am

You can do Roth conversions if both are on the old platform though.

BigJohn
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Re: Vanguard brokerage account transition

Post by BigJohn » Wed Aug 07, 2019 6:27 am

retiredjg wrote:
Wed Aug 07, 2019 5:59 am
You can do Roth conversions if both are on the old platform though.
Thanks, never had this circumstance so wasn't aware that on-line conversions was an option in this case.

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vanguard investment platform

Post by dickyboy » Sat Sep 21, 2019 10:29 am

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

Anyone else holding out on switching to Vanguard's "new" investment platform...and why. I am, and it's because in the past many times when someone tells me that a change is not going to create an additional hassle for me, that usually turns out not to be true. As in...Murphy's law.

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Re: vanguard investment platform

Post by tibbitts » Sat Sep 21, 2019 10:30 am

dickyboy wrote:
Sat Sep 21, 2019 10:29 am
Anyone else holding out on switching to Vanguard's "new" investment platform...and why. I am, and it's because in the past many times when someone tells me that a change is not going to create an additional hassle for me, that usually turns out not to be true. As in...Murphy's law.
What new platform? Do you mean brokerage vs. mutual fund?

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Re: vanguard investment platform

Post by dickyboy » Sat Sep 21, 2019 10:33 am

Yes I do.

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Re: vanguard investment platform

Post by yangtui » Sat Sep 21, 2019 10:40 am

With things like this I usually wait until I am forced to do so. Give them time to sort out the kinks.

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Re: vanguard investment platform

Post by abuss368 » Sat Sep 21, 2019 10:48 am

We have the mutual fund only accounts and everything is setup as we like and need. Importantly for us the statements are “year to date” showing all transactions for the entire year. My understanding is this account statement format is not available with the brokerage accounts.

If Vanguard provided this then it really would not bother me one way or another. There brokerage statements are a year to date running total. There is a difference. Really not sure why it is an issue and not an option. I have no desire to print or obtain the information from their website or to have twelve statements a year. Perhaps in the future they will offer one complete and comprehensive statement.
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Re: vanguard investment platform

Post by abuss368 » Sat Sep 21, 2019 10:48 am

yangtui wrote:
Sat Sep 21, 2019 10:40 am
With things like this I usually wait until I am forced to do so. Give them time to sort out the kinks.
Exactly! :beer
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Re: Vanguard brokerage account transition

Post by LadyGeek » Sun Sep 22, 2019 10:39 am

I merged dickyboy's thread into the on-going discussion.
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Re: Vanguard brokerage account transition

Post by abuss368 » Sun Sep 22, 2019 11:00 am

I am surprised no one has discussed the account statement format I raised earlier. I believe Mel (who hopefully will see this thread) has discussed this as well.
Last edited by abuss368 on Tue Sep 24, 2019 3:39 pm, edited 1 time in total.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

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