90 day waiting period for Vanguard Flagship

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K72
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90 day waiting period for Vanguard Flagship

Post by K72 » Thu Mar 14, 2019 10:52 pm

I was told a week ago when I called Vanguard that they just instituted a 90-day waiting period to be enrolled into Flagship status after achieving the $1M threshold in Vanguard funds. I was lucky in that I transferred my assets just before the new rule took effect and wasn't subject to the wait. Might be wise to check into this before transferring your $.

AlphaLess
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Re: 90 day waiting period for Vanguard Flagship

Post by AlphaLess » Thu Mar 14, 2019 11:36 pm

K72 wrote:
Thu Mar 14, 2019 10:52 pm
I was told a week ago when I called Vanguard that they just instituted a 90-day waiting period to be enrolled into Flagship status after achieving the $1M threshold in Vanguard funds. I was lucky in that I transferred my assets just before the new rule took effect and wasn't subject to the wait. Might be wise to check into this before transferring your $.
I don't get it. If you are transferring in for good, then why does it matter to check?
It sucks to be waiting for 90 days, but it's not like you were transferring $1MM to Vanguard for a temporary period.
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Whakamole
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Re: 90 day waiting period for Vanguard Flagship

Post by Whakamole » Fri Mar 15, 2019 12:08 am

Maybe they think people will take advantage of Flagship benefits and then transfer out. I'm not sure which benefit.

nalor511
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Re: 90 day waiting period for Vanguard Flagship

Post by nalor511 » Fri Mar 15, 2019 12:22 am

I don't know what Flagship benefit anyone would get much use out of these days. I looked at the list, nothing I care about.

kacang
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Re: 90 day waiting period for Vanguard Flagship

Post by kacang » Fri Mar 15, 2019 12:59 am

Whakamole wrote:
Fri Mar 15, 2019 12:08 am
Maybe they think people will take advantage of Flagship benefits and then transfer out. I'm not sure which benefit.
Access to otherwise closed funds?

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RickBoglehead
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Re: 90 day waiting period for Vanguard Flagship

Post by RickBoglehead » Fri Mar 15, 2019 5:54 am

I suspect that they have an increasing volume of new customers that take advantage of the latest and greatest bonuses at other companies and constantly pull funds and go below the $1 million threshold.
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drzzzzz
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Re: 90 day waiting period for Vanguard Flagship

Post by drzzzzz » Fri Mar 15, 2019 8:51 am

I think it's poor marketing, why advertise it and then not give it to you for 90 days - sometimes things they do make no sense to me and only appear to be hurdles to the client - makes you wonder if Vanguard really appreciates your or my business.

livesoft
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Re: 90 day waiting period for Vanguard Flagship

Post by livesoft » Fri Mar 15, 2019 9:01 am

The 90-days is to make it seem more selective and important.
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letsgobobby
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Re: 90 day waiting period for Vanguard Flagship

Post by letsgobobby » Fri Mar 15, 2019 9:03 am

It doesn't seem to be worth much, so it shouldn't cost them much. It's like having a really unfriendly bouncer at the club door but claiming you welcome all comers. I don't understand.

UpperNwGuy
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Re: 90 day waiting period for Vanguard Flagship

Post by UpperNwGuy » Fri Mar 15, 2019 9:03 am

What will Flagship get me that being a regular customer won’t get me? All I want to do is to buy and hold Vanguard mutual funds with no transaction fees or account maintenance fees. Will Flagship help me do that better? Seems like it might be more of a status thing.

Whakamole
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Re: 90 day waiting period for Vanguard Flagship

Post by Whakamole » Fri Mar 15, 2019 9:04 am

drzzzzz wrote:
Fri Mar 15, 2019 8:51 am
I think it's poor marketing, why advertise it and then not give it to you for 90 days - sometimes things they do make no sense to me and only appear to be hurdles to the client - makes you wonder if Vanguard really appreciates your or my business.
I don't think they even upgrade you unless you ask. That was the case with me (albeit with a lower level than Flagship.) It mystifies me why you'd require someone who brings a lot of assets to the table to jump through additional hoops, especially with the numerous benefits and bonuses that other brokers are providing now.

Perhaps it is the case that Vanguard is more interested in running funds than being a broker.

HomeStretch
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Re: 90 day waiting period for Vanguard Flagship

Post by HomeStretch » Fri Mar 15, 2019 9:32 am

UpperNwGuy wrote:
Fri Mar 15, 2019 9:03 am
What will Flagship get me that being a regular customer won’t get me? All I want to do is to buy and hold Vanguard mutual funds with no transaction fees or account maintenance fees. Will Flagship help me do that better? Seems like it might be more of a status thing.
Flagship includes a different call center 800#, maybe an assigned Flagship rep, free trades (20/year?), can buy into some closed funds and access to a Flagship CFP for questions/plan for Vanguard portfolio. I might have missed something...

desiderium
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Re: 90 day waiting period for Vanguard Flagship

Post by desiderium » Fri Mar 15, 2019 9:36 am

OTOH, because I have made some other investments outside VG my balance has dipped below 1M for a long time and they haven't revoked my Flagship status.

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TomatoTomahto
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Re: 90 day waiting period for Vanguard Flagship

Post by TomatoTomahto » Fri Mar 15, 2019 9:40 am

We have been Flagship for years and, as far as I know, not used any features/benefits. I'm willing to rent those benefits for 90 days to anyone who is interested. :moneybag
Okay, I get it; I won't be political or controversial. The Earth is flat.

letsgobobby
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Re: 90 day waiting period for Vanguard Flagship

Post by letsgobobby » Fri Mar 15, 2019 9:58 am

TomatoTomahto wrote:
Fri Mar 15, 2019 9:40 am
We have been Flagship for years and, as far as I know, not used any features/benefits. I'm willing to rent those benefits for 90 days to anyone who is interested. :moneybag
I think the wait time is shorter when you call.

flarf
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Re: 90 day waiting period for Vanguard Flagship

Post by flarf » Fri Mar 15, 2019 10:50 am

Probably my fault. I moved some money to Vanguard in December and have already sent three free wires.

PRMECP
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Re: 90 day waiting period for Vanguard Flagship

Post by PRMECP » Fri Mar 15, 2019 11:25 am

TomatoTomahto,

I don’t have a million bucks, so I can’t access Vanguards PRIMECAP funds.
If you would rent your benefits, would you please gift me an entry position in Vanguard PRIMECAP? I will reimburse you plus a nominal extra payment for the transfer.
Thanks for your consideration of this matter,
PRMECP
Yes, I like PRIMECAP. A lot.

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TomatoTomahto
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Re: 90 day waiting period for Vanguard Flagship

Post by TomatoTomahto » Fri Mar 15, 2019 11:37 am

PRMECP wrote:
Fri Mar 15, 2019 11:25 am
TomatoTomahto,
I don’t have a million bucks, so I can’t access Vanguards PRIMECAP funds.
If you would rent your benefits, would you please gift me an entry position in Vanguard PRIMECAP? I will reimburse you plus a nominal extra payment for the transfer.
Thanks for your consideration of this matter,
PRMECP
How would the logistics work? I’m not sure that it’s flagship status that is the gatekeeper; isn’t it an existing position before the fund was closed?

Based on your user name, it’s clear that you really really like PRIMECAP :D
Okay, I get it; I won't be political or controversial. The Earth is flat.

PRMECP
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Re: 90 day waiting period for Vanguard Flagship

Post by PRMECP » Fri Mar 15, 2019 11:45 am

TomatoTomahto,

As to the logistics, see Tip #2. It may be a bit of work, but it may be possible.

https://investorplace.com/how-to-invest ... ds/closed/

Yes, I like PRIMECAP’s funds. I own a bit of PRIMECAP Odyssey Growth fund.

Thanks,

PRMECP
Yes, I like PRIMECAP. A lot.

UpperNwGuy
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Re: 90 day waiting period for Vanguard Flagship

Post by UpperNwGuy » Fri Mar 15, 2019 3:30 pm

HomeStretch wrote:
Fri Mar 15, 2019 9:32 am
UpperNwGuy wrote:
Fri Mar 15, 2019 9:03 am
What will Flagship get me that being a regular customer won’t get me? All I want to do is to buy and hold Vanguard mutual funds with no transaction fees or account maintenance fees. Will Flagship help me do that better? Seems like it might be more of a status thing.
Flagship includes a different call center 800#, maybe an assigned Flagship rep, free trades (20/year?), can buy into some closed funds and access to a Flagship CFP for questions/plan for Vanguard portfolio. I might have missed something...
I don’t think I would ever use any of that stuff, so I guess I’m happy not to be a Flagshipper.

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Doom&Gloom
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Re: 90 day waiting period for Vanguard Flagship

Post by Doom&Gloom » Fri Mar 15, 2019 4:33 pm

Much ado about nothing imo.

Wakefield1
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Re: 90 day waiting period for Vanguard Flagship

Post by Wakefield1 » Fri Mar 15, 2019 5:44 pm

Does the Flagship phone # answer faster than the other phone #s?
I thought it was rather random that someone noticed your balances and put the "Welcome to Flagship" on your logon.
My Flagship might have been on the rocks during the December foolishness but seems to have refloated without any holes in the bottom (the logon page still said "Flagship" while the balances were down)
It might be nice if Vanguard would put "Customer since (date of your first Vanguard account opening),it seems that information about the accounts' histories seems to drop off after 10 years (the 2008 era red ink seems to have disappeared from "Personal Performance")

delamer
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Re: 90 day waiting period for Vanguard Flagship

Post by delamer » Fri Mar 15, 2019 6:17 pm

About two years ago, I was told by a Vanguard rep that accounts are reviewed to determine the correct service level on a quarterly basis.

Are you sure that isn’t what you were told?

indexlover
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Re: 90 day waiting period for Vanguard Flagship

Post by indexlover » Sat Mar 16, 2019 7:17 am

delamer wrote:
Fri Mar 15, 2019 6:17 pm
About two years ago, I was told by a Vanguard rep that accounts are reviewed to determine the correct service level on a quarterly basis.

Are you sure that isn’t what you were told?
I have been a Flagship for a few years now but whenever i call ( which is very rare) i get the same mediocre service from the general pool of service reps. Even when it was an important matter of rolling over my IRA into my 401k (at my company) they botched it and some customer success person was involved from Arizona. Even then my assigned Flagship rep never called or emailed or intervened. Did nothing. This Flagship stuff is useless as far as i am concerned. Maybe helps you get into closed funds like PRIMECAP etc.
Last edited by indexlover on Sat Mar 16, 2019 7:58 pm, edited 1 time in total.
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Nutmeg
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Re: 90 day waiting period for Vanguard Flagship

Post by Nutmeg » Sat Mar 16, 2019 9:36 am

I find the Flagship service to be useful, as the Flagship reps seem better informed than the general customer service pool. If my Flagship rep isn’t available when I call, I make an appointment for him to call me back during a specific time window, and he does.

yoyo6713
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Re: 90 day waiting period for Vanguard Flagship

Post by yoyo6713 » Sat Mar 16, 2019 1:06 pm

I have some money sitting in the settlement fund and I decided to try the wire service. Today it is Saturday so I figured nothing will happen until Monday but as I soon as I clicked on submit, the money disappeared from my settlement fund which really surprised me. I will assume the fund is still sitting there earning interest for the weekend but does anyone know for sure? In the activities tab I do see a pending wire transfer.

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beyou
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Re: 90 day waiting period for Vanguard Flagship

Post by beyou » Sat Mar 16, 2019 2:08 pm

My current rep is very responsive and helpful. I am glad Vanguard is giving themselves time to staff and train properly before onboarding new clients and the number of reps needed to serve those clients. It is only fair to existing clients to avoid overloading existing reps.

Now there are minor other perks than a rep, maybe they could give other perks immediately, but talking to a Flagship rep should be a privilege for large and loyal long time clients. Maybe no waiting for closed funds and reduced commissions but even longer wait for Flagship rep. Easy to give discounts, hard to train new staff quickly.
Last edited by beyou on Sat Mar 16, 2019 7:36 pm, edited 1 time in total.

DrGoogle2017
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Re: 90 day waiting period for Vanguard Flagship

Post by DrGoogle2017 » Sat Mar 16, 2019 6:55 pm

I just have a new rep, the last one was awful, I was told she retired, such a short notice, I wonder if she was fired. But do they fire anybody at Vanguard?

quantAndHold
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Re: 90 day waiting period for Vanguard Flagship

Post by quantAndHold » Sat Mar 16, 2019 7:11 pm

letsgobobby wrote:
Fri Mar 15, 2019 9:58 am
TomatoTomahto wrote:
Fri Mar 15, 2019 9:40 am
We have been Flagship for years and, as far as I know, not used any features/benefits. I'm willing to rent those benefits for 90 days to anyone who is interested. :moneybag
I think the wait time is shorter when you call.
I use the free and $2 trades. I have no idea if I have a dedicated CS rep, I rarely need to call. Other than that, I looked at the list of benefits the last time this came up, and there was nothing I would be likely to use.

letsgobobby
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Re: 90 day waiting period for Vanguard Flagship

Post by letsgobobby » Sat Mar 16, 2019 8:38 pm

quantAndHold wrote:
Sat Mar 16, 2019 7:11 pm
I rarely need to call.
lucky you. :beer

delamer
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Re: 90 day waiting period for Vanguard Flagship

Post by delamer » Sat Mar 16, 2019 11:05 pm

DrGoogle2017 wrote:
Sat Mar 16, 2019 6:55 pm
I just have a new rep, the last one was awful, I was told she retired, such a short notice, I wonder if she was fired. But do they fire anybody at Vanguard?
Why would you think they don’t?

DrGoogle2017
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Re: 90 day waiting period for Vanguard Flagship

Post by DrGoogle2017 » Sat Mar 16, 2019 11:19 pm

delamer wrote:
Sat Mar 16, 2019 11:05 pm
DrGoogle2017 wrote:
Sat Mar 16, 2019 6:55 pm
I just have a new rep, the last one was awful, I was told she retired, such a short notice, I wonder if she was fired. But do they fire anybody at Vanguard?
Why would you think they don’t?
I asked her and she said one of my daughters doesn’t qualify.

Momus
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Re: 90 day waiting period for Vanguard Flagship

Post by Momus » Sat Mar 16, 2019 11:24 pm

I got mine a week after shooting a private message to them. It was quick. The only benefit is 25 free trades per yr vs. $2/trade. I don't trade... So there.

delamer
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Re: 90 day waiting period for Vanguard Flagship

Post by delamer » Sat Mar 16, 2019 11:25 pm

DrGoogle2017 wrote:
Sat Mar 16, 2019 11:19 pm
delamer wrote:
Sat Mar 16, 2019 11:05 pm
DrGoogle2017 wrote:
Sat Mar 16, 2019 6:55 pm
I just have a new rep, the last one was awful, I was told she retired, such a short notice, I wonder if she was fired. But do they fire anybody at Vanguard?
Why would you think they don’t?
I asked her and she said one of my daughters doesn’t qualify.
You lost me.

I was asking why you seem to think that they don’t fire people at Vanguard.

DrGoogle2017
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Re: 90 day waiting period for Vanguard Flagship

Post by DrGoogle2017 » Sat Mar 16, 2019 11:26 pm

delamer wrote:
Sat Mar 16, 2019 11:25 pm
DrGoogle2017 wrote:
Sat Mar 16, 2019 11:19 pm
delamer wrote:
Sat Mar 16, 2019 11:05 pm
DrGoogle2017 wrote:
Sat Mar 16, 2019 6:55 pm
I just have a new rep, the last one was awful, I was told she retired, such a short notice, I wonder if she was fired. But do they fire anybody at Vanguard?
Why would you think they don’t?
I asked her and she said one of my daughters doesn’t qualify.
You lost me.

I was asking why you seem to think that they don’t fire people at Vanguard.
Oops, too many thread about Vanguard, I got confused. I don’t know that’s why I asked it here.

drk
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Re: 90 day waiting period for Vanguard Flagship

Post by drk » Sat Mar 16, 2019 11:33 pm

delamer wrote:
Sat Mar 16, 2019 11:05 pm
DrGoogle2017 wrote:
Sat Mar 16, 2019 6:55 pm
I just have a new rep, the last one was awful, I was told she retired, such a short notice, I wonder if she was fired. But do they fire anybody at Vanguard?
Why would you think they don’t?
They don’t answer to shareholders, so they may not have the incentive to do so. :twisted:

delamer
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Re: 90 day waiting period for Vanguard Flagship

Post by delamer » Sat Mar 16, 2019 11:42 pm

drk wrote:
Sat Mar 16, 2019 11:33 pm
delamer wrote:
Sat Mar 16, 2019 11:05 pm
DrGoogle2017 wrote:
Sat Mar 16, 2019 6:55 pm
I just have a new rep, the last one was awful, I was told she retired, such a short notice, I wonder if she was fired. But do they fire anybody at Vanguard?
Why would you think they don’t?
They don’t answer to shareholders, so they may not have the incentive to do so. :twisted:
So companies without shareholders don’t have an incentives to fire unproductive/incompetent employees?

drk
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Re: 90 day waiting period for Vanguard Flagship

Post by drk » Sat Mar 16, 2019 11:48 pm

delamer wrote:
Sat Mar 16, 2019 11:42 pm
So companies without shareholders don’t have an incentives to fire unproductive/incompetent employees?
That’s the implication of the joke, yes.

If you’d like, I can explain the rest of the joke: Vanguard enthusiasts on this board regularly invoke other firms’ public ownership as a reason not to trust them, so it is ironic to consider that that ownership structure offers the firms an incentive to run a more efficient, and less incompetent, business.

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