Flagship Perks

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dcb
Posts: 138
Joined: Wed Sep 26, 2007 12:44 pm
Location: Southwest Michigan

Flagship Perks

Post by dcb »

I thought I read or was told earlier that one could include immediate family members on your flagship account and then they too would enjoy the extra perks of flagship service. However, when I recently called to link a family member's Vanguard account I was told that the family member had to reside in the same household. Is this a change or was I given mistaken information earlier?

don
prh2s
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Location: Virginia

Re: Flagship Perks

Post by prh2s »

dcb wrote:Is this a change or was I given mistaken information earlier?
It's a change in policy, which I think took effect at the same time as all the other changes Vanguard recently made to the Voyager and Flagship packages.

Patrick
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oneleaf
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Post by oneleaf »

From what I understood:
- Family members need to be in the same household in order to qualify to COMBINE assets to add up to the $1M requirement.
- Any family member (same household or not) can get the perks once you qualify per the requirement above.

Now if they changed the second policy, then that is definitely new.
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rob
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Post by rob »

Hummm... We if one was a family member that changed the address to the "same" to qualify and then shut off paper statements so the parents (or whatever) did not get a copy...... :)

Seems like a change from the past if this is now the case.
| Rob | Its a dangerous business going out your front door. - J.R.R.Tolkien
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ajtanner04
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Post by ajtanner04 »

All three of my brothers and I are flagship members because our parents are flagship members and none of us live with them. My parents became flagship members in 2002 (I think). Perhaps the policy has changed since then.
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oneleaf
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Post by oneleaf »

ajtanner04 wrote:All three of my brothers and I are flagship members because our parents are flagship members and none of us live with them. My parents became flagship members in 2002 (I think). Perhaps the policy has changed since then.
Yea, we are in the same position. I guess the question now is whether our flagship status will be taken away?
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SpringMan
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Post by SpringMan »

My guess is those that are already Flagship, would be "grandfathered". Vanguard also has recently changed the rules regarding how much is needed in Vanguard Funds/ETFs held at Vanguard. Formerly 500K was needed in VG funds, now it is 1M. Existing Flagship clients are "grandfathered in" according to Vanguard. Changing rules for the worse on existing customers does not create good will and they don't want to drive customers away.

Regards,
Best Wishes, SpringMan
Topic Author
dcb
Posts: 138
Joined: Wed Sep 26, 2007 12:44 pm
Location: Southwest Michigan

Post by dcb »

I called a Vanguard Flagship services representative a second time just to make sure I was given the correct information from the first representative. He verified that the rules have changed and a family member must reside in same household as the primary Flagship account holder. It upsets me a little because when I called 4 weeks ago in regard to my son establishing an account and rolling over a 401k from his former employer into a TIRA and linking it to my Flagship acount their was no problem. Now, after initiating the rollover we learn he can no longer link his account. Bad timing I guess.
Don
InvestingMom
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I just switched my mother

Post by InvestingMom »

You must have just missed it because I just had my mom switch over to Vanguard using my Flagship status a few weeks ago. They better keep her grandfathered! I will be very angry otherwise.
Jadzia
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Post by Jadzia »

I was able to get my mother's status after she opened up an additional joint account with both myself and my sister on it. (She wanted us to have access to some funds in case she ever had a medical emergency.)

Her account then automatically linked her status with my account, and because I also have a joint aqccount with my husband, it conferred her stauts to him as well.

So I guess you could always open up a small joint account with a family member and automatically get their status that way. 8)
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