Transition to Vanguard's new investment platform???

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hamishdad
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Transition to Vanguard's new investment platform???

Post by hamishdad » Fri Oct 05, 2018 11:22 am

I received email today stating that I need to transition my account to Vanguard's new investment platform. Is this required or optional? I don't have any interest in purchasing stocks or ETFs. Thanks.
Last edited by hamishdad on Fri Oct 05, 2018 11:26 am, edited 1 time in total.

chevca
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Re: Transition to Vanguard's new investment platform???

Post by chevca » Fri Oct 05, 2018 11:26 am

I had to do it this year with my Roth held with Vanguard. It's just the new way they're dong things. You don't have to buy individual stocks or anything. My Roth stayed in exactly the same mutual fund.

You can either do it now on your own, or they will transition you to the new set up eventually from how I understood it.

Nate79
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Re: Transition to Vanguard's new investment platform???

Post by Nate79 » Fri Oct 05, 2018 11:27 am

hamishdad wrote:
Fri Oct 05, 2018 11:22 am
I received email today stating that I need to transition my account to Vanguard's new investment platform. Is this required or optional? I don't have any interest in purchasing stocks or ETFs. Thanks.
There are many many threads on this topic. Search on brokerage account conversion.

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mhc
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Re: Transition to Vanguard's new investment platform???

Post by mhc » Fri Oct 05, 2018 11:30 am

I received an email today saying I need to switch because Vanguard will be retiring the old platform. Sounds like it is either a requirement or will become a requirement some day. I switched my taxable account at the beginning of 2018. It was painless. I guess I need to switch the IRAs and Roth IRAs.

UpperNwGuy
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Re: Transition to Vanguard's new investment platform???

Post by UpperNwGuy » Fri Oct 05, 2018 11:30 am

The brokerage platform:
A. Is no longer new.
B. Works fine.
C. Is the platform that Vanguard is committed to for the long haul.

hamishdad
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Re: Transition to Vanguard's new investment platform???

Post by hamishdad » Fri Oct 05, 2018 11:33 am

Nate79 wrote:
Fri Oct 05, 2018 11:27 am
hamishdad wrote:
Fri Oct 05, 2018 11:22 am
I received email today stating that I need to transition my account to Vanguard's new investment platform. Is this required or optional? I don't have any interest in purchasing stocks or ETFs. Thanks.
There are many many threads on this topic. Search on brokerage account conversion.
Thanks, Nate. I was just hoping for a simple answer to my question -- is it required or optional?

Nate79
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Re: Transition to Vanguard's new investment platform???

Post by Nate79 » Fri Oct 05, 2018 12:21 pm

hamishdad wrote:
Fri Oct 05, 2018 11:33 am
Nate79 wrote:
Fri Oct 05, 2018 11:27 am
hamishdad wrote:
Fri Oct 05, 2018 11:22 am
I received email today stating that I need to transition my account to Vanguard's new investment platform. Is this required or optional? I don't have any interest in purchasing stocks or ETFs. Thanks.
There are many many threads on this topic. Search on brokerage account conversion.
Thanks, Nate. I was just hoping for a simple answer to my question -- is it required or optional?
It is optional today.

sbaywriter
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Re: Transition to Vanguard's new investment platform???

Post by sbaywriter » Fri Oct 05, 2018 12:43 pm

This "transition" has been going on for years - Vanguard seems to be getting more forceful now. For a while I would see an "upgrade" button whenever I logged on. That went away. Now there is a popup window every time I log on that tells me:

"Important update needed for your account
We'll be retiring our old investment platform and, as a result, we're asking all our clients to transition to our new investment platform."

It does not say it is required though - they are still just "asking". Yes I will convert soon if this popup does not go away. Just laziness and don't like to learn new web pages.

The many earlier discussions on this mention a couple of things in the old platform that are not supported on the new platform, or at least require some workaround to accomplish, so you probably want to read up on it first to avoid surprises.

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Duckie
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Re: Transition to Vanguard's new investment platform???

Post by Duckie » Fri Oct 05, 2018 5:59 pm

hamishdad wrote:I was just hoping for a simple answer to my question -- is it required or optional?
It's optional right now. There will come a time when it won't be. You will have to either switch or leave.

stan1
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Re: Transition to Vanguard's new investment platform???

Post by stan1 » Fri Oct 05, 2018 6:11 pm

hamishdad wrote:
Fri Oct 05, 2018 11:33 am
Nate79 wrote:
Fri Oct 05, 2018 11:27 am
hamishdad wrote:
Fri Oct 05, 2018 11:22 am
I received email today stating that I need to transition my account to Vanguard's new investment platform. Is this required or optional? I don't have any interest in purchasing stocks or ETFs. Thanks.
There are many many threads on this topic. Search on brokerage account conversion.
Thanks, Nate. I was just hoping for a simple answer to my question -- is it required or optional?
Our traditional and Roth IRAs have never had the option to upgrade. I upgraded the taxable account we put ETFs in about 2 years ago. Another taxable mutual fund account that sees no activity other than dividend flow had an upgrade link at one point but now its gone. So I can't say whether its required or optional, just that some clients are not being asked to upgrade right now. We do not work in the securities industry. If you don't want to upgrade I'd just leave it alone. Maybe they will offer you $50 or $100 at some point to do the transition? If they send you a letter saying they are going to liquidate your account unless you transition they you'll know you need to. Or you can be a good citizen and do your part to keep costs low by doing the upgrade.

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mhc
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Re: Transition to Vanguard's new investment platform???

Post by mhc » Tue Oct 09, 2018 9:36 am

I upgraded my joint taxable account back in January. Piece of cake. I did my and my DW's IRA and Roth this weekend. It was easy. I then had to redo the permissions so I can manage my DW's accounts and she can view my accounts.

I did all this in less than 30 minutes while watching football in my recliner.

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Eagle33
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Re: Transition to Vanguard's new investment platform???

Post by Eagle33 » Tue Oct 09, 2018 6:52 pm

mhc wrote:
Tue Oct 09, 2018 9:36 am
I upgraded my joint taxable account back in January. Piece of cake. I did my and my DW's IRA and Roth this weekend. It was easy. I then had to redo the permissions so I can manage my DW's accounts and she can view my accounts.

I did all this in less than 30 minutes while watching football in my recliner.
mhc

Were you able to redo access permissions on-line or was it necessary to mail paper agent request forms again?
Rocket science is not “rocket science” to a rocket scientist, just as personal finance is not “rocket science” to a Boglehead.

Plz
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Re: Transition to Vanguard's new investment platform???

Post by Plz » Tue Oct 09, 2018 11:00 pm

Are there any disadvantages to switching? Seems like the costs/everything is the same, plus you get covered by SIPC?

Am I missing anything?

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mhc
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Re: Transition to Vanguard's new investment platform???

Post by mhc » Wed Oct 10, 2018 10:30 am

Eagle33 wrote:
Tue Oct 09, 2018 6:52 pm
mhc wrote:
Tue Oct 09, 2018 9:36 am
I upgraded my joint taxable account back in January. Piece of cake. I did my and my DW's IRA and Roth this weekend. It was easy. I then had to redo the permissions so I can manage my DW's accounts and she can view my accounts.

I did all this in less than 30 minutes while watching football in my recliner.
mhc

Were you able to redo access permissions on-line or was it necessary to mail paper agent request forms again?
I did it all on-line

Rupert
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Re: Transition to Vanguard's new investment platform???

Post by Rupert » Wed Oct 10, 2018 10:39 am

hamishdad wrote:
Fri Oct 05, 2018 11:22 am
I received email today stating that I need to transition my account to Vanguard's new investment platform. Is this required or optional? I don't have any interest in purchasing stocks or ETFs. Thanks.
I don't know if that email means it's no longer optional for you. Perhaps you should call them and ask. I have not received such an email and continue using the old platform for most of my accounts. I recently opened a new account and had to use the new platform. I am able to move money between the new platform and the old platform without any problems. As a result, I will not transition my old accounts until they tell me I have to.

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telemark
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Re: Transition to Vanguard's new investment platform???

Post by telemark » Thu Oct 11, 2018 9:11 am

hamishdad wrote:
Fri Oct 05, 2018 11:33 am
Nate79 wrote:
Fri Oct 05, 2018 11:27 am
hamishdad wrote:
Fri Oct 05, 2018 11:22 am
I received email today stating that I need to transition my account to Vanguard's new investment platform. Is this required or optional? I don't have any interest in purchasing stocks or ETFs. Thanks.
There are many many threads on this topic. Search on brokerage account conversion.
Thanks, Nate. I was just hoping for a simple answer to my question -- is it required or optional?
When people studiously avoid answering a question, it's often because they don't like the answer. In this case, I suspect the transition is optional but that Vanguard really wishes that it could somehow be required. In any case, only Vanguard can say for certain and they keep dancing around the question.

Another question: why can't the new investment platform support mutual fund accounts?

Nate79
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Re: Transition to Vanguard's new investment platform???

Post by Nate79 » Thu Oct 11, 2018 9:56 am

Now that Vanguard is putting in writing that they are going to retire the old platform I think the writing is on the wall that the old platform will not last soon. So reality is do you want to do it today or in the near future?

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car733
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Re: Transition to Vanguard's new investment platform???

Post by car733 » Thu Oct 11, 2018 10:42 am

is there a way to know if you are in the old or the new platform? I am pretty new to Vanguard so I don't know what the old looks like :(

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