Page 1 of 1

New Brokerage platform

Posted: Thu Mar 14, 2019 12:54 pm
by dickyboy
Anyone else still holding off on switching to Vanguards new brokerage platform. I have been still holding off as I can envision problems with the transition that they aren't telling about. I'm not crazy about change or the potential hassle that comes along with it.

Re: New Brokerage platform

Posted: Thu Mar 14, 2019 12:59 pm
by Chuck
I moved over last year because I didn't want to be a part of the flood of people switching at the last moment.

Nothing happened.

I got 1099's from the funds directly (from before the switch), and 1099's from VBS, so that year I had to do one additional 1099, since the VBS one has all my holdings.

It is nothing I will tell my grandchildren about.

Re: New Brokerage platform

Posted: Thu Mar 14, 2019 2:18 pm
by Doc
Chuck wrote:
Thu Mar 14, 2019 12:59 pm
I moved over last year because I didn't want to be a part of the flood of people switching at the last moment.
We moved in November 2014. I didn't want to be part of the flood either. :D

There was no hassle.

Re: New Brokerage platform

Posted: Thu Mar 14, 2019 2:43 pm
by ohai
I got this email today saying they are switching over. This causes complications for me, as I work in securities and cannot hold brokerage accounts with Vanguard. I called Vanguard and they said they want to switch people over as a long term plan, but there is not definite time line - it could be years. I didn't realize this has been going on since 2014. If this is true, I might have to change custody of my assets to somewhere else.

Re: New Brokerage platform

Posted: Thu Mar 14, 2019 3:42 pm
by runner26
We each received this message today (with no definite date of when legacy goes away):


YOUR ACCOUNT NEEDS TO BE TRANSITIONED
Dear x,

We're retiring our old investment platform, which is what you're using today.

We'll need you to take a few minutes to complete a 3-step transition to our new investment platform. It's quick and easy—just log on to vanguard.com through your web browser or use the button below to get started.

Re: New Brokerage platform

Posted: Thu Mar 14, 2019 4:18 pm
by jebmke
I moved my individual accounts. I have not moved our joint account (yet). Not a huge difference, really. The consolidated tax statement is a benefit. But the December statement for brokerage accounts does not include the full year of transactions. Other than that, I haven't seen much difference.

Re: New Brokerage platform

Posted: Mon Mar 25, 2019 8:31 pm
by ruhigste
I resisted doing it for years, but when the horse (old platform) dies, it's best to get off :happy. It was as quick and easy as Vanguard said it would be.

Re: New Brokerage platform

Posted: Mon Mar 25, 2019 8:52 pm
by TheGreyingDuke
The only "issue" I had was needing to re-state my preference for dividend reinvestment, that did not carry over.

Re: New Brokerage platform

Posted: Mon Mar 25, 2019 10:57 pm
by Dead Man Walking
I hold mutual funds at Vanguard and have not switched to the brokerage platform because I prefer the year end statements of the mutual fund platform. If I am forced to switch to the brokerage platform, I will probably maintain my IRA accounts with Vanguard; however, I may transfer my taxable accounts to my Chase YouInvest account because the transfer of funds from my Chase Bank accounts to my YouInvest account would be simpler. Since I am retired and do not have any earned income, I can no longer contribute to IRAs. I still invest new money in my taxable accounts and the simplicity of the Chase platform appeals to me. I doubt that Vanguard cares if they lose my taxable accounts.

DMW

Re: New Brokerage platform

Posted: Mon Mar 25, 2019 11:15 pm
by beyou
ohai wrote:
Thu Mar 14, 2019 2:43 pm
I got this email today saying they are switching over. This causes complications for me, as I work in securities and cannot hold brokerage accounts with Vanguard. I called Vanguard and they said they want to switch people over as a long term plan, but there is not definite time line - it could be years. I didn't realize this has been going on since 2014. If this is true, I might have to change custody of my assets to somewhere else.
Have same issue. They even let me open a new acct on old platform, for same reason. For open end funds, all the fund firms have a fund only legacy platform. Vanguard needed a brokerage platform so they can sell ETFs without losing direct client contact. I may switch after I retire from the industry, if they force me, but I don’t think it will happen.

Re: New Brokerage platform

Posted: Mon Mar 25, 2019 11:29 pm
by gmtret
I own nothing but mutual funds, and as far as I am concerned, V* can switch to the new platform when I'm dead and gone. From everything I've read there is no way they casn make you switch. :twisted: