Vanguard "Pooling" Household Accounts For Investor

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eurowizard
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Vanguard "Pooling" Household Accounts For Investor

Post by eurowizard » Wed Jan 20, 2010 1:11 pm

I'd like to hear your experience in getting VG to allow you to pool househouse accounts to increase your status to voyager/etc levels.

I believe the wording is immediate family members in the same house. Unfortunately between myself and my father we both have over $100k but he lives in another state. Has anyone gotten VG to waive the same address rule for this? My father wouldn't have gotten VG if it wasn't for my advice.

I have about $75k and he has about $60k

mikep
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Post by mikep » Wed Jan 20, 2010 1:35 pm

Vanguard wrote:See how you qualify for Flagship and Voyager Services
Membership is based on total household assets held at Vanguard, with a minimum of $100,000 to qualify for Vanguard Voyager Services®, $500,000 for Vanguard Voyager Select Services®, and $1 million for Vanguard Flagship Services®. We determine membership by aggregating assets of all eligible accounts held by the investor and his or her immediate family members who reside at the same address, including investments in Vanguard mutual funds, Vanguard ETFs™, annuities through Vanguard, The Vanguard 529 Plan, and certain small-business accounts. Assets in employer-sponsored retirement plans for which Vanguard provides recordkeeping services may be included in determining eligibility if the investor also has a Personal Investors account holding Vanguard mutual funds. Note that assets held in a Vanguard Brokerage Services® account (other than Vanguard ETFs) aren't included when determining a household's eligibility.

Qualification criteria (for example, asset levels) for Flagship and Voyager Services are subject to periodic review by Vanguard and may change at any time. Vanguard reserves the right to discontinue membership in any of these services or reassign any investor, without prior notification, to the appropriate service level if the investor fails to continue to meet the applicable qualification criteria. Vanguard reserves the right to amend or cancel selected features and benefits at any time without prior notification.

In addition, ongoing access by any particular investor to individual services, discounts, and exemptions is subject to periodic review and may be restricted based upon criteria established solely by Vanguard. While Vanguard Flagship and Voyager Services are complimentary, some underlying services may charge fees and expenses. Vanguard does not guarantee any level of service.
From https://personal.vanguard.com/us/whatwe ... andvoyager -> See how you qualify. Seems pretty cut and dry to me

What I'd like to know, if the market value of your investments dips below the threshold, do they kick you out of the club? Or once in, always in?

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White Coat Investor
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Post by White Coat Investor » Wed Jan 20, 2010 1:46 pm

They don't kick you out. But voyager doesn't give you much either so don't get worked up about it.
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jpsfranks
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Post by jpsfranks » Thu Jan 21, 2010 11:19 am

EmergDoc wrote:But voyager doesn't give you much either so don't get worked up about it.
I agree. The benefits of Voyager seem pretty much limited to not being charged for paper statements and having marginally less unreasonable VBS trading commissions if you use VBS.

However if you really want it I don't see why one of you couldn't just change your mailing address to the other's. Presumably neither of you are receiving paper statements now, so you wouldn't miss those. I have considered using in my parents' mailing address to get to Flagship, but I don't use VBS and don't particularly care about having a representative or getting a financial plan, so I haven't bothered.

GammaPoint
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Post by GammaPoint » Thu Jan 21, 2010 11:25 am

jpsfranks wrote: However if you really want it I don't see why one of you couldn't just change your mailing address to the other's. Presumably neither of you are receiving paper statements now, so you wouldn't miss those.
Has anyone done this? My father is Flagship and I'm just a lowly Investor so it'd be nice :)

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woof755
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Post by woof755 » Thu Jan 21, 2010 12:33 pm

yes, please game the system.

:roll:
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jpsfranks
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Post by jpsfranks » Thu Jan 21, 2010 2:23 pm

woof755 wrote:yes, please game the system.

:roll:
:roll: yourself.

When offered I also try to make use of my friends' various employee discounts and on occasion I borrow my parents' Costco membership. I'm such a terrible person.

GammaPoint
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Post by GammaPoint » Thu Jan 21, 2010 2:34 pm

jpsfranks wrote: :roll: yourself.

When offered I also try to make use of my friends' various employee discounts and on occasion I borrow my parents' Costco membership. I'm such a terrible person.
Yes, everyone games the system who can. If it's legal and harms no one why not? I mean, if eurowizard actually moved back in with his parents and then applied for a higher status would that somehow be better for Vanguard? The 'same household rule' is silly (there's no reason to reward those who don't leave the nest). I see no reason why those of us who don't get mom and dad to pay our rent shouldn't get the same benefit as those who do.

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Doc
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Post by Doc » Thu Jan 21, 2010 2:39 pm

jpsfranks wrote:
woof755 wrote:yes, please game the system.

:roll:
:roll: yourself.

When offered I also try to make use of my friends' various employee discounts and on occasion I borrow my parents' Costco membership. I'm such a terrible person.
I personally know employee's that have gone to jail for that. If there are enough incidents it is even a felony. Enjoy your discount.
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duhmel1
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Post by duhmel1 » Thu Jan 21, 2010 3:48 pm

jpsfranks wrote:
EmergDoc wrote:But voyager doesn't give you much either so don't get worked up about it.
I agree. The benefits of Voyager seem pretty much limited to not being charged for paper statements and having marginally less unreasonable VBS trading commissions if you use VBS.

However if you really want it I don't see why one of you couldn't just change your mailing address to the other's. Presumably neither of you are receiving paper statements now, so you wouldn't miss those. I have considered using in my parents' mailing address to get to Flagship, but I don't use VBS and don't particularly care about having a representative or getting a financial plan, so I haven't bothered.
I got a free TurboTax download. That is the extent of the perks that I have received.

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Random Musings
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Post by Random Musings » Thu Jan 21, 2010 4:44 pm

If someone in the family is Flagship status (at least in the past), others in the family were able to coat-tail on even though living at different residences. Makes marketing sense since Vanguard is probably making a reasonable assumption that assets remaining will pass on to heirs and end up in Vanguard accounts.

RM

GammaPoint
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Post by GammaPoint » Thu Jan 21, 2010 5:01 pm

Random Musings wrote:If someone in the family is Flagship status (at least in the past), others in the family were able to coat-tail on even though living at different residences.
RM, I've never heard this before. Have you done this or do you know of a thread where others claim to have done this?

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Random Musings
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Post by Random Musings » Thu Jan 21, 2010 5:07 pm

I can recall a thread regarding coat-tailing on Flagship. Also, I have been able to coat-tail myself as well as other members of the family. It took a phone call.

It would be beneficial if someone has done this recently (mine was years ago).

RM

GammaPoint
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Post by GammaPoint » Thu Jan 21, 2010 6:01 pm

Random Musings wrote:I can recall a thread regarding coat-tailing on Flagship. Also, I have been able to coat-tail myself as well as other members of the family. It took a phone call
Thanks RM. I think I found the thread (or a thread) that you were talking about here http://www.bogleheads.org/forum/viewtopic.php?p=151877.

I'll talk to my father about this and then maybe give Vanguard a call.

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IlliniGuy
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Post by IlliniGuy » Thu Jan 21, 2010 8:57 pm

Somewhat unrelated to OP's question, but interesting:

I opened a VG money market account as a teenager living with my parents. I was given special status because of their accounts.

Several years later when I had moved out and changed my address, they moved up a rung on the status ladder and took me with them. Even though we had different addresses, out accounts were still linked.

Several more years later after I got married, my wife's VG small account that she opened before we were married and had been registered at a different address suddenly had the same special status.

Its interesting how this all works and how VG connects the dots and leaves them connected as time goes by. Not that it gets me all that much in benefits....

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