This is Unbelievable - another Vanguard customer support odyssey

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pkcrafter
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Re: This is Unbelievable - another Vanguard customer support odyssey

Post by pkcrafter » Wed May 16, 2018 1:20 pm

eucalyptus wrote:
Fri Dec 29, 2017 12:54 pm
We have invested with Vanguard for many years.

After another bad experience today, I don't dare trust Vanguard with any account I might need help with someday.

My elderly father needs to resign as trustee of a trust for my daughter. Vanguard cannot accomplish this task.

More and more of our money is moving elsewhere.

Vanguard, pretty clearly, doesn't care about any of this.
I think Vanguard employees do care, but there seems to be a serious flaw in communication across departments when more than one has to get involved. The right hand doesn't know what the left hand is doing. My best advice is NEVER try to do more than one request at a time as the odds of something going wrong seem to be very high.

Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.

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Chan_va
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Re: This is Unbelievable - another Vanguard customer support odyssey

Post by Chan_va » Wed May 16, 2018 6:42 pm

Another datapoint on Vanguard growing faster than it's support and systems can handle. I have enough assets at Vanguard to move from one tier to the next. But Vanguard wont move me since they don't have enough staff to support clients at the next tier. As someone else mentioned, I would gladly pay a few bps extra for better systems/service. At this point, all that is keeping me at Vanguard is inertia.

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jeffyscott
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Re: This is Unbelievable - another Vanguard customer support odyssey

Post by jeffyscott » Thu May 17, 2018 12:34 pm

Reading this as my first rollover attempt becomes a hassle...

I don't know why rollovers need be so convoluted in the first place...but, anyway, my employer mailed check made out to Vanguard to me, which I promptly put in the mail to them. Now 9 days later Vanguard says:
...we have no record of your rollover check being received
at Vanguard.

You may wait an additional few more days and contact us again to inquire if
we have received the check or contact the financial institution who issued
the check and request a stop payment and reissue of the check.
At least it was only a partial rollover and a fairly small amount that I was doing first to see how the process works.
press on, regardless - John C. Bogle

drzzzzz
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Re: This is Unbelievable - another Vanguard customer support odyssey

Post by drzzzzz » Thu May 17, 2018 2:24 pm

I had this problem when I was helping a family member with a rollover - it was sitting in some area in Vanguard and was ultimately returned to start over again since they either didn't have the correct paperwork or instructions weren't clear - they didn't even bother letting my niece know they were returning the check to her until the day prior (after it had been sitting there for 10 days) when they said she had to get another form from her ex-employer. I have since done two rollovers to Fidelity for my mother from a difficult annuity company and Fidelity went out of their way to get paperwork done in a timely fashion to meet pretty immediate deadlines that the other company was imposing - it was also nice to speak to a person at a local branch to explain what needed to get down as well as receiving phone calls back from Fidelity reps explaining what was happening. Lastly, their track transfer site on their accounts is a nice touch to keep you updated. Someday maybe Vanguard will get its IT and suport people up to the job - just too much money coming in to them and service suffers.

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jeffyscott
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Re: This is Unbelievable - another Vanguard customer support odyssey

Post by jeffyscott » Thu May 17, 2018 2:33 pm

In this case there's no paperwork, just a check in an envelope. And I verified before mailing that was really what I was supposed to send. I did leave the check attached to the stub, which has my address on it.

I figure I'll let it fester for another week or two. But if I ultimately have to start over, I may go elsewhere...
press on, regardless - John C. Bogle

MrPotatoHead
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Re: This is Unbelievable - another Vanguard customer support odyssey

Post by MrPotatoHead » Thu May 17, 2018 4:37 pm

Index Fan wrote:
Wed May 16, 2018 7:52 am
I think average customer service in the business world as a whole is is poor.
Once again corporate culture. You can view customer service in different ways.

For some companies it is a chance for value add to your clients, a way to cement relationships, solidify your asset base, and hopefully bring in future generations of assets to your company. In other words it is an opportunity.

Other companies view customer service as a pure cost, something to be minimized. Those firms actively monitor call volumes and try to get CSRs to empty the queue as quick as possible without regard to the quality of the service.

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