VG service ... advice welcome

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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JD1967
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VG service ... advice welcome

Post by JD1967 » Wed Mar 13, 2019 4:55 am

Hello everyone ... thanks in advance for all comments ... here goes ... VG customer service cant seem to figure this out

1. My mother is 85 ... a long time VG customer ... she lives in a facility that cares for people w dementia/Alzheimer's ...

2. I am her son ... am her full power of attorney ... and am a full agent on her VG account ... her accounts show up on my "household" account view ... I see her statements and handle her affairs as needed ... been doing this for about a year

3. Right now ... for whatever reason ... my mothers personal online account access at VG is suspended ... has been for quite some time ... its generally not a big deal bc I see everything I need about her accounts thru my own login

4. I get a lot of physical mail sent to my house from my mothers account ... I simply want my mothers stuff to be sent electronically ... no paper ... easy I thought ...

Well ... not so easy... apparently paperless delivery can only be setup thru my mothers personal online account ... I cant do it thru my account ... even though I am the full agent and already see everything ... her personal online account is suspended and can only be reactivated if VG talks to her personally ... she has Alzheimer's... that wont work ...

So ... VG ... trillions under management ... an enormously successful and effective organization simply can not switch my mom to electronic delivery of her stuff ... has to be paper delivery as well ... it's an annoyance and in the grand scheme not that big a deal ... but come on .. VG should fix this and I suspect the rep I've been working with on this just likes to say "No" ... to everything ...

Fire away ... any advice is appreciated ...

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JD1967
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Re: VG service ... advice welcome

Post by JD1967 » Wed Mar 13, 2019 5:01 am

All I want to do is turn off the paper delivery ... a win for everyone ... but, apparently a bridge too far ... any ideas on how to get this done ? :oops:

livesoft
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Re: VG service ... advice welcome

Post by livesoft » Wed Mar 13, 2019 5:01 am

OK, my advice: Give up and accept the paper mail with pleasure.

What's that expression about bigger fish to fry. If I had a twitter account, I would post an animated gif.
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RickBoglehead
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Re: VG service ... advice welcome

Post by RickBoglehead » Wed Mar 13, 2019 5:21 am

I suspect the issue you have is that you told them of her incompetence before using her online access to turn off statements.

Try sending a msg explaining that the continued mailing is a security risk.
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.

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JD1967
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Re: VG service ... advice welcome

Post by JD1967 » Wed Mar 13, 2019 6:25 am

livesoft wrote:
Wed Mar 13, 2019 5:01 am
OK, my advice: Give up and accept the paper mail with pleasure.

What's that expression about bigger fish to fry. If I had a twitter account, I would post an animated gif.
You're right ... but if I'm honest ... its turned into a pissing contest with the VG rep and it is a stupid situation that "cant be solved" (VG rep words) ... come on ... someone inside that place can look at this situation ... exercise some judgement... and solve this ...

I need a hobby

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JD1967
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Re: VG service ... advice welcome

Post by JD1967 » Wed Mar 13, 2019 6:27 am

RickBoglehead wrote:
Wed Mar 13, 2019 5:21 am
I suspect the issue you have is that you told them of her incompetence before using her online access to turn off statements.

Try sending a msg explaining that the continued mailing is a security risk.
I'll do this ... thank you

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RickBoglehead
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Re: VG service ... advice welcome

Post by RickBoglehead » Wed Mar 13, 2019 6:40 am

In short, financial institutions are very inconsistent about how they handle POA authorities. Often the specifics aren't understood by all reps.

We recently had to close a revocable trust with Ally because while they accept POAs, they don't accept them on trusts. That was fine, until in attempting to use Zelle, they realized the request was coming from a different state than the account owner lived in, because the account owner wasn't accessing the account online. They required either a change to the trust or closing of the account.

I can tell you that we have full agent authority in place for my in-laws. I did all their transactions. Given that the full agent authority was in place, when they became legally incompetent, we did not change anything at Vanguard, I continued to transact business on their behalf. I had no obligation to inform Vanguard of their changed mental status.

You should also know that assuming your mother has regular accounts (i.e. not a trust), when she finally passes away your authority vanishes immediately. Therefore, before that happens, you'll want to ensure that adequate funds are in place at the right institutions to continue to pay bills that come in while account beneficiary processing or probate processes take place. Every financial institution locks accounts immediately upon hearing that an account owner has passed.
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.

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JD1967
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Re: VG service ... advice welcome

Post by JD1967 » Wed Mar 13, 2019 7:20 am

RickBoglehead wrote:
Wed Mar 13, 2019 6:40 am
In short, financial institutions are very inconsistent about how they handle POA authorities. Often the specifics aren't understood by all reps.

We recently had to close a revocable trust with Ally because while they accept POAs, they don't accept them on trusts. That was fine, until in attempting to use Zelle, they realized the request was coming from a different state than the account owner lived in, because the account owner wasn't accessing the account online. They required either a change to the trust or closing of the account.

I can tell you that we have full agent authority in place for my in-laws. I did all their transactions. Given that the full agent authority was in place, when they became legally incompetent, we did not change anything at Vanguard, I continued to transact business on their behalf. I had no obligation to inform Vanguard of their changed mental status.

You should also know that assuming your mother has regular accounts (i.e. not a trust), when she finally passes away your authority vanishes immediately. Therefore, before that happens, you'll want to ensure that adequate funds are in place at the right institutions to continue to pay bills that come in while account beneficiary processing or probate processes take place. Every financial institution locks accounts immediately upon hearing that an account owner has passed.
Great advice ... thank you...

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Eagle33
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Re: VG service ... advice welcome

Post by Eagle33 » Wed Mar 13, 2019 8:45 pm

Ensuring correct beneficiaries on her accounts is more important than the paper delivery issue. Unfortunately cannot see nor change those from your full agent view of her accounts. Must be done thru her login. Unless VG has some legal procedure to change them, but it is probably above the normal rep's paygrade.
Rocket science is not “rocket science” to a rocket scientist, just as personal finance is not “rocket science” to a Boglehead.

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