Vanguard brokerage account transition

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SxSW
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Re: Vanguard brokerage account transition

Post by SxSW » Sun Sep 22, 2019 11:17 am

One advantage of the brokerage platform is that if you need to transfer assets in or out, it can usually be initiated online, and completes within a few days.

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Re: Vanguard brokerage account transition

Post by Mel Lindauer » Tue Sep 24, 2019 2:39 pm

abuss368 wrote:
Sun Sep 22, 2019 11:00 am
I am surprised no one has discussed the account statement format I raised earlier. I believe Mel h(who hopefully will see this thread) has discussed this as well.
IMO, this is a major step backwards. With the old statements, they were, indeed, year-to-date so you could toss the previus statements and end up with one December statement that covered all the transactions for the year.

While the new brokerage statements claim to be year-to-date, they are, in reality, only a monthly statement. Therefore, you have to retain 12 monthly statements instad of just one to show all of your transactions for the year. That's really sad, and is certainly not an "upgrade" as it was pitched to be. I hope that Vanguard will address this sooner rather than later.
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Re: Vanguard brokerage account transition

Post by abuss368 » Tue Sep 24, 2019 3:39 pm

Mel Lindauer wrote:
Tue Sep 24, 2019 2:39 pm
abuss368 wrote:
Sun Sep 22, 2019 11:00 am
I am surprised no one has discussed the account statement format I raised earlier. I believe Mel h(who hopefully will see this thread) has discussed this as well.
IMO, this is a major step backwards. With the old statements, they were, indeed, year-to-date so you could toss the previus statements and end up with one December statement that covered all the transactions for the year.

While the new brokerage statements claim to be year-to-date, they are, in reality, only a monthly statement. Therefore, you have to retain 12 monthly statements instad of just one to show all of your transactions for the year. That's really sad, and is certainly not an "upgrade" as it was pitched to be. I hope that Vanguard will address this sooner rather than later.
Many thanks Mel for that clear explanation.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

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Re: Vanguard brokerage account transition

Post by jebmke » Tue Sep 24, 2019 3:46 pm

Mel Lindauer wrote:
Tue Sep 24, 2019 2:39 pm
With the old statements, they were, indeed, year-to-date so you could toss the previus statements and end up with one December statement that covered all the transactions for the year.
Are you still using paper statements?
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Re: vanguard investment platform

Post by asset_chaos » Tue Sep 24, 2019 4:04 pm

dickyboy wrote:
Sat Sep 21, 2019 10:29 am
Anyone else holding out on switching to Vanguard's "new" investment platform...and why. I am, and it's because in the past many times when someone tells me that a change is not going to create an additional hassle for me, that usually turns out not to be true.
I too have declined to switch to the brokerage only platform. I use dividend redirection, and the brokerage only platform does not allow that. When approached by Vanguard to switch, I've explained that when they fix the dividend redirection, I'll be ok to switch. Until then, I'm not going to volunteer to change.
Regards, | | Guy

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Re: Vanguard brokerage account transition

Post by Cheez-It Guy » Tue Sep 24, 2019 4:12 pm

I switched a couple of years ago in order to simplify / consolidate accounts (because I did and do have a couple individual stocks in the brokerage account), but I wish they would just fix these dumb and seemingly simple issues keeping folks on the old format. It SHOULD benefit us all for Vanguard to be able to turn the page and support a single account format going forward. Similarly, if they would support automatic investments in ETFs via fractional shares, and if they would allow direct conversion of VBTLX to BND (Total Bond) without triggering tax consequences, I would readily switch from mutual funds to ETFs, which seems to be the way they want us to go. Why make it hard and give people reasons not to switch?

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Re: Vanguard brokerage account transition

Post by Mel Lindauer » Tue Sep 24, 2019 5:08 pm

jebmke wrote:
Tue Sep 24, 2019 3:46 pm
Mel Lindauer wrote:
Tue Sep 24, 2019 2:39 pm
With the old statements, they were, indeed, year-to-date so you could toss the previus statements and end up with one December statement that covered all the transactions for the year.
Are you still using paper statements?
Most certainly. When systems crash and I need proof, paper is king.
Best Regards - Mel | | Semper Fi

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Re: Vanguard brokerage account transition

Post by jebmke » Tue Sep 24, 2019 5:12 pm

Mel Lindauer wrote:
Tue Sep 24, 2019 5:08 pm
jebmke wrote:
Tue Sep 24, 2019 3:46 pm
Mel Lindauer wrote:
Tue Sep 24, 2019 2:39 pm
With the old statements, they were, indeed, year-to-date so you could toss the previus statements and end up with one December statement that covered all the transactions for the year.
Are you still using paper statements?
Most certainly. When systems crash and I need proof, paper is king.
All they are is laser prints. You can store them and print them whenever you want no matter what happens to their system. I don't rely on their system either.
When you discover that you are riding a dead horse, the best strategy is to dismount.

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Re: Vanguard brokerage account transition

Post by Cheez-It Guy » Tue Sep 24, 2019 5:13 pm

Download PDFs. Keep periodic digital backup on a USB Flash drive in a fire safe. Works!

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Re: Vanguard brokerage account transition

Post by abuss368 » Tue Sep 24, 2019 6:06 pm

jebmke wrote:
Tue Sep 24, 2019 3:46 pm
Mel Lindauer wrote:
Tue Sep 24, 2019 2:39 pm
With the old statements, they were, indeed, year-to-date so you could toss the previus statements and end up with one December statement that covered all the transactions for the year.
Are you still using paper statements?
Or save the paper statement to your computer or cloud. Only have to save one rather than 12 per account.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

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Re: vanguard investment platform

Post by DorothyB » Tue Sep 24, 2019 8:16 pm

asset_chaos wrote:
Tue Sep 24, 2019 4:04 pm
I too have declined to switch to the brokerage only platform. I use dividend redirection, and the brokerage only platform does not allow that. When approached by Vanguard to switch, I've explained that when they fix the dividend redirection, I'll be ok to switch. Until then, I'm not going to volunteer to change.
I have not switched to the brokerage platform either.

I have my dividends sent to my checking account. Is that what you mean by dividend redirection?

Thanks!

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Re: vanguard investment platform

Post by abuss368 » Tue Sep 24, 2019 8:29 pm

DorothyB wrote:
Tue Sep 24, 2019 8:16 pm
asset_chaos wrote:
Tue Sep 24, 2019 4:04 pm
I too have declined to switch to the brokerage only platform. I use dividend redirection, and the brokerage only platform does not allow that. When approached by Vanguard to switch, I've explained that when they fix the dividend redirection, I'll be ok to switch. Until then, I'm not going to volunteer to change.
I have not switched to the brokerage platform either.

I have my dividends sent to my checking account. Is that what you mean by dividend redirection?

Thanks!
I think the redirection is a dividend paid from one fund is reinvested in an entirely different fund.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

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Re: Vanguard brokerage account transition

Post by abuss368 » Tue Sep 24, 2019 8:29 pm

Mel Lindauer wrote:
Tue Sep 24, 2019 5:08 pm
jebmke wrote:
Tue Sep 24, 2019 3:46 pm
Mel Lindauer wrote:
Tue Sep 24, 2019 2:39 pm
With the old statements, they were, indeed, year-to-date so you could toss the previus statements and end up with one December statement that covered all the transactions for the year.
Are you still using paper statements?
Most certainly. When systems crash and I need proof, paper is king.
Agreed! Technology is great....when it works!
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Re: Vanguard brokerage account transition

Post by abuss368 » Tue Sep 24, 2019 8:30 pm

If Vanguard would offer the same year to date statements I probably would not have as much, if any, issue converting the accounts.

Not sure there are many other differences.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

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Re: vanguard investment platform

Post by asset_chaos » Wed Sep 25, 2019 3:39 pm

DorothyB wrote:
Tue Sep 24, 2019 8:16 pm
asset_chaos wrote:
Tue Sep 24, 2019 4:04 pm
I too have declined to switch to the brokerage only platform. I use dividend redirection, and the brokerage only platform does not allow that. When approached by Vanguard to switch, I've explained that when they fix the dividend redirection, I'll be ok to switch. Until then, I'm not going to volunteer to change.
I have not switched to the brokerage platform either.

I have my dividends sent to my checking account. Is that what you mean by dividend redirection?

Thanks!
No, it means having dividends from one fund automatically reinvested in another fund, e.g. stock dividends automatically going into a bond fund. With the brokerage only account type dividends can only be moved into the sweep money market fund, then you have to log in and manually initiate a transaction to move them from the sweep account to the other fund.
Regards, | | Guy

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Re: vanguard investment platform

Post by abuss368 » Wed Sep 25, 2019 3:44 pm

asset_chaos wrote:
Wed Sep 25, 2019 3:39 pm
DorothyB wrote:
Tue Sep 24, 2019 8:16 pm
asset_chaos wrote:
Tue Sep 24, 2019 4:04 pm
I too have declined to switch to the brokerage only platform. I use dividend redirection, and the brokerage only platform does not allow that. When approached by Vanguard to switch, I've explained that when they fix the dividend redirection, I'll be ok to switch. Until then, I'm not going to volunteer to change.
I have not switched to the brokerage platform either.

I have my dividends sent to my checking account. Is that what you mean by dividend redirection?

Thanks!
No, it means having dividends from one fund automatically reinvested in another fund, e.g. stock dividends automatically going into a bond fund. With the brokerage only account type dividends can only be moved into the sweep money market fund, then you have to log in and manually initiate a transaction to move them from the sweep account to the other fund.
Does a brokerage account allow for the dividends to be deposited with your bank's checking account rather than the Vanguard money market account?
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

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Re: Vanguard brokerage account transition

Post by HomeStretch » Wed Sep 25, 2019 3:50 pm

I would prefer a true year-to-date statement for my brokerage accounts. As a work-around, I download a YTD transaction summary for each account which is easier than searching through the monthly statements.

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Re: Vanguard brokerage account transition

Post by abuss368 » Wed Sep 25, 2019 3:52 pm

HomeStretch wrote:
Wed Sep 25, 2019 3:50 pm
I would prefer a true year-to-date statement for my brokerage accounts. As a work-around, I download a YTD transaction summary for each account which is easier than searching through the monthly statements.
I have heard of the workaround before. It bothers me that in the year 2019 we are asking any company, even Vanguard, to provide this basic account statement.

Curious if many more investors would switch over if they offered that.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

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Re: vanguard investment platform

Post by asset_chaos » Wed Sep 25, 2019 5:00 pm

abuss368 wrote:
Wed Sep 25, 2019 3:44 pm
asset_chaos wrote:
Wed Sep 25, 2019 3:39 pm
DorothyB wrote:
Tue Sep 24, 2019 8:16 pm
asset_chaos wrote:
Tue Sep 24, 2019 4:04 pm
I too have declined to switch to the brokerage only platform. I use dividend redirection, and the brokerage only platform does not allow that. When approached by Vanguard to switch, I've explained that when they fix the dividend redirection, I'll be ok to switch. Until then, I'm not going to volunteer to change.
I have not switched to the brokerage platform either.

I have my dividends sent to my checking account. Is that what you mean by dividend redirection?

Thanks!
No, it means having dividends from one fund automatically reinvested in another fund, e.g. stock dividends automatically going into a bond fund. With the brokerage only account type dividends can only be moved into the sweep money market fund, then you have to log in and manually initiate a transaction to move them from the sweep account to the other fund.
Does a brokerage account allow for the dividends to be deposited with your bank's checking account rather than the Vanguard money market account?
I haven't done that, but I do also have a vanguard brokerage account for an etf or two. I'll check and find that for the etfs in the brokerage account I do see that dividend transfer to a bank account is one of the options. So, yes, brokerage does allow direct transfer to a bank account.

What's missing in the brokerage account is the dividend option that says transfer dividends to another vanguard fund which is available in the mutual fund account.
Regards, | | Guy

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Re: vanguard investment platform

Post by abuss368 » Wed Sep 25, 2019 5:15 pm

asset_chaos wrote:
Wed Sep 25, 2019 5:00 pm

I haven't done that, but I do also have a vanguard brokerage account for an etf or two. I'll check and find that for the etfs in the brokerage account I do see that dividend transfer to a bank account is one of the options. So, yes, brokerage does allow direct transfer to a bank account.

What's missing in the brokerage account is the dividend option that says transfer dividends to another vanguard fund which is available in the mutual fund account.
Thanks. That is good to know in case we all have to convert.
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Re: Vanguard brokerage account transition

Post by jebmke » Wed Sep 25, 2019 5:24 pm

abuss368 wrote:
Tue Sep 24, 2019 6:06 pm
jebmke wrote:
Tue Sep 24, 2019 3:46 pm
Mel Lindauer wrote:
Tue Sep 24, 2019 2:39 pm
With the old statements, they were, indeed, year-to-date so you could toss the previus statements and end up with one December statement that covered all the transactions for the year.
Are you still using paper statements?
Or save the paper statement to your computer or cloud. Only have to save one rather than 12 per account.
have to save any that have transactions if you want to show the transactions. But I go into their site for one reason or another every month anyway (usually just to monitor for fraud) so pulling the monthly household statement takes 30 seconds or less.
When you discover that you are riding a dead horse, the best strategy is to dismount.

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Re: vanguard investment platform

Post by BigJohn » Wed Sep 25, 2019 5:52 pm

abuss368 wrote:
Wed Sep 25, 2019 3:44 pm
asset_chaos wrote:
Wed Sep 25, 2019 3:39 pm
DorothyB wrote:
Tue Sep 24, 2019 8:16 pm
asset_chaos wrote:
Tue Sep 24, 2019 4:04 pm
I too have declined to switch to the brokerage only platform. I use dividend redirection, and the brokerage only platform does not allow that. When approached by Vanguard to switch, I've explained that when they fix the dividend redirection, I'll be ok to switch. Until then, I'm not going to volunteer to change.
I have not switched to the brokerage platform either.

I have my dividends sent to my checking account. Is that what you mean by dividend redirection?

Thanks!
No, it means having dividends from one fund automatically reinvested in another fund, e.g. stock dividends automatically going into a bond fund. With the brokerage only account type dividends can only be moved into the sweep money market fund, then you have to log in and manually initiate a transaction to move them from the sweep account to the other fund.
Does a brokerage account allow for the dividends to be deposited with your bank's checking account rather than the Vanguard money market account?
I can only speak for what I hold. Yes from a VG mutual fund direct to my checking account works. As of now, individual stocks and bonds can only go to settlement account and need to be moved manually. Fortunately not much of this left so not a major hassle.

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Re: Vanguard brokerage account transition

Post by abuss368 » Wed Sep 25, 2019 6:36 pm

Is there anyway the Bogleheads could provide a formal request to Vanguard to provide true "year to date" statements?
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Re: Vanguard brokerage account transition

Post by LadyGeek » Wed Sep 25, 2019 7:15 pm

The forum has no connection to Vanguard (nor should it).

However, there will be a visit to Vanguard during the 2019 Bogleheads Conference. If a conference attendee is interested, he/she can corral one of the Vanguard reps and express their opinion in person.
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Re: Vanguard brokerage account transition

Post by Mel Lindauer » Wed Sep 25, 2019 11:18 pm

abuss368 wrote:
Wed Sep 25, 2019 6:36 pm
Is there anyway the Bogleheads could provide a formal request to Vanguard to provide true "year to date" statements?
Vanguard folks monitor this forum regularly, so you can bet they've already seen this thread.
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Re: Vanguard brokerage account transition

Post by abuss368 » Mon Oct 07, 2019 9:52 pm

Mel Lindauer wrote:
Wed Sep 25, 2019 11:18 pm
abuss368 wrote:
Wed Sep 25, 2019 6:36 pm
Is there anyway the Bogleheads could provide a formal request to Vanguard to provide true "year to date" statements?
Vanguard folks monitor this forum regularly, so you can bet they've already seen this thread.
Thanks Mel! Hopefully they will see this and consider.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

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Re: Vanguard brokerage account transition

Post by Tadpole » Tue Nov 05, 2019 6:31 pm

Something may have gone wrong when my husband's IRA rollover was transitioned last August. He had already paid his RMD for 2019 in May before his account was transitioned. Now, Vanguard is saying that we still need to take a RMD of the same amount as we took in May 2019. A copy of his RMD withdrawal confirmation dated May 3, 2019 was in his documents. I am concerned that they messed up the old account records and didn't transition some of the vital information needed for Vanguard to provide the 1099 for the RMD. I tried to call but their line was backed up and I declined a call back since I wasn't free all afternoon.

I get an error on his account when I try to inspect the automatic yearly withdrawal established in 2017, the first year of my husbands RMD, so it appears the automatic yearly withdrawal of the RMD on May 1 every year also got lost in the transition.

I checked my own account. This is my first RMD year and I set up mine to be withdrawn on November 20, 2019 so the account was transitioned prior to withdrawal of the 2019 RMD. My account appeared to transition without any visible problems. When I inspect the RMD schedule it is still scheduled for November 20, 2019. So it has no comparable problems.

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Re: Vanguard brokerage account transition

Post by Doom&Gloom » Tue Nov 05, 2019 7:01 pm

Tadpole wrote:
Tue Nov 05, 2019 6:31 pm
Something may have gone wrong when my husband's IRA rollover was transitioned last August. He had already paid his RMD for 2019 in May before his account was transitioned. Now, Vanguard is saying that we still need to take a RMD of the same amount as we took in May 2019. A copy of his RMD withdrawal confirmation dated May 3, 2019 was in his documents. I am concerned that they messed up the old account records and didn't transition some of the vital information needed for Vanguard to provide the 1099 for the RMD. I tried to call but their line was backed up and I declined a call back since I wasn't free all afternoon.

I get an error on his account when I try to inspect the automatic yearly withdrawal established in 2017, the first year of my husbands RMD, so it appears the automatic yearly withdrawal of the RMD on May 1 every year also got lost in the transition.

I checked my own account. This is my first RMD year and I set up mine to be withdrawn on November 20, 2019 so the account was transitioned prior to withdrawal of the 2019 RMD. My account appeared to transition without any visible problems. When I inspect the RMD schedule it is still scheduled for November 20, 2019. So it has no comparable problems.
I had a similar, but less serious, issue. This was my first year to take RMDs, and I set up annual withdrawals and specified that Vanguard pull it all from one particular fund. That went fine. Shortly thereafter, I transitioned to a brokerage account. When I checked to see if that instruction had carried over, I found that the automatic withdrawals and the specified dates had been retained but it was now set to draw proportionally from all my funds. I can see no way to change that back to my earlier setting without deleting the automatic withdrawals entirely and setting them up all over again. I don't want to risk a problem or extra "paperwork", so I decided to leave it as is. Not a big deal, but it is a minor annoyance.

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Re: Vanguard brokerage account transition

Post by Tadpole » Thu Nov 07, 2019 3:00 am

I called early this morning and talked to a representatives. She saw the same thing I did and offered to fix it but when she tried to fix it she got the same error that I did. She said she would report the problem and, hopefully, I would see it fixed some time in the future.

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Re: Vanguard brokerage account transition

Post by abuss368 » Thu Nov 07, 2019 8:54 am

Tadpole wrote:
Thu Nov 07, 2019 3:00 am
I called early this morning and talked to a representatives. She saw the same thing I did and offered to fix it but when she tried to fix it she got the same error that I did. She said she would report the problem and, hopefully, I would see it fixed some time in the future.
Unfortunately it is a headache but I would expect some challenges as Vanguard transitions to the new brokerage platform from the mutual fund account platform.
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Re: Vanguard brokerage account transition

Post by njuser » Fri Nov 08, 2019 7:46 pm

I'm getting more frequent messages about transitioning my account. I was going to do it in January. Is there a deadline?

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Re: Vanguard brokerage account transition

Post by joe8d » Fri Nov 08, 2019 9:42 pm

Mel Lindauer wrote:
Tue Sep 24, 2019 5:08 pm
jebmke wrote:
Tue Sep 24, 2019 3:46 pm
Mel Lindauer wrote:
Tue Sep 24, 2019 2:39 pm
With the old statements, they were, indeed, year-to-date so you could toss the previus statements and end up with one December statement that covered all the transactions for the year.
Are you still using paper statements?
Most certainly. When systems crash and I need proof, paper is king.
:thumbsup Mel.
All the Best, | Joe

n00b
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Re: Vanguard brokerage account transition

Post by n00b » Thu Nov 14, 2019 10:00 pm

One thing I haven't seen mentioned is the Quicken Direct Connect interface. Some brokerages create transactions that do not import well into Quicken. Has anyone noticed a difference between the Mutual Fund and Brokerage accounts in that regard?

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Re: Vanguard brokerage account transition

Post by delamer » Fri Nov 15, 2019 9:51 am

n00b wrote:
Thu Nov 14, 2019 10:00 pm
One thing I haven't seen mentioned is the Quicken Direct Connect interface. Some brokerages create transactions that do not import well into Quicken. Has anyone noticed a difference between the Mutual Fund and Brokerage accounts in that regard?
I transitioned my account, and Quicken worked fine before and after.

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Re: Vanguard brokerage account transition

Post by Faith20879 » Fri Nov 15, 2019 10:05 am

njuser wrote:
Fri Nov 08, 2019 7:46 pm
I was going to do it in January. Is there a deadline?
I think January is a good month to transition, meaning before any distribution (Div/Int) happens.

We upgraded mid-year and got multiple 1099s at year-end, one for the old account and one for the new account. Kind of messy, I didn't like that.

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Re: Vanguard brokerage account transition

Post by njuser » Sat Nov 23, 2019 7:22 am

Faith20879 wrote:
Fri Nov 15, 2019 10:05 am
njuser wrote:
Fri Nov 08, 2019 7:46 pm
I was going to do it in January. Is there a deadline?
I think January is a good month to transition, meaning before any distribution (Div/Int) happens.

We upgraded mid-year and got multiple 1099s at year-end, one for the old account and one for the new account. Kind of messy, I didn't like that.
Thanks. It seems that the messages are getting more demanding. More along the lines of 'you need to transition now, we are retiring this platform'.

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Re: Vanguard brokerage account transition

Post by bengal22 » Sat Nov 23, 2019 9:08 am

I have never been asked to transition. I think I am on the same platform I have been on for over 30 years. I have a Roth, IRAs, and taxable account. Don't want to change either.
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Re: Vanguard brokerage account transition

Post by staunchlydubious » Sat Nov 23, 2019 11:51 am

For those who have done the transition to a brokerage account, are your mutual fund shares then held in street name (registered in the name of Vanguard Brokerage Services), or does your ownership interest in the shares continue to be directly registered in your name on the books and records of the fund(s) you own?

boglesmind
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Re: Vanguard brokerage account transition

Post by boglesmind » Sat Nov 23, 2019 12:10 pm

abuss368 wrote:
Mon Oct 07, 2019 9:52 pm
Mel Lindauer wrote:
Wed Sep 25, 2019 11:18 pm
abuss368 wrote:
Wed Sep 25, 2019 6:36 pm
Is there anyway the Bogleheads could provide a formal request to Vanguard to provide true "year to date" statements?
Vanguard folks monitor this forum regularly, so you can bet they've already seen this thread.
Thanks Mel! Hopefully they will see this and consider.
Another vote for "year to date" statements in brokerage accounts

Boglesmind

HomeStretch
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Re: Vanguard brokerage account transition

Post by HomeStretch » Sat Nov 23, 2019 12:12 pm

staunchlydubious wrote:
Sat Nov 23, 2019 11:51 am
For those who have done the transition to a brokerage account, are your mutual fund shares then held in street name (registered in the name of Vanguard Brokerage Services), or does your ownership interest in the shares continue to be directly registered in your name on the books and records of the fund(s) you own?
Shares in a brokerage account are held in street name. Hold your shares as paper certificates or electronically at the Company’s Transfer Agent to be a “Shareholder of Record”.
Last edited by HomeStretch on Sat Nov 23, 2019 12:15 pm, edited 1 time in total.

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Cheez-It Guy
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Re: Vanguard brokerage account transition

Post by Cheez-It Guy » Sat Nov 23, 2019 12:14 pm

^^Give the feedback to Vanguard via secure message when prompted to migrate.

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abuss368
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Re: Vanguard brokerage account transition

Post by abuss368 » Sat Nov 23, 2019 1:07 pm

boglesmind wrote:
Sat Nov 23, 2019 12:10 pm
abuss368 wrote:
Mon Oct 07, 2019 9:52 pm
Mel Lindauer wrote:
Wed Sep 25, 2019 11:18 pm
abuss368 wrote:
Wed Sep 25, 2019 6:36 pm
Is there anyway the Bogleheads could provide a formal request to Vanguard to provide true "year to date" statements?
Vanguard folks monitor this forum regularly, so you can bet they've already seen this thread.
Thanks Mel! Hopefully they will see this and consider.
Another vote for "year to date" statements in brokerage accounts

Boglesmind
Perhaps the Bogleheads as a group should collectively place one telephone call to Vanguard's client services and request actual year to date statements. I would expect that would have an impact that may possibly lead to a change?
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

staunchlydubious
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Re: Vanguard brokerage account transition

Post by staunchlydubious » Sat Nov 23, 2019 2:35 pm

HomeStretch wrote:
Sat Nov 23, 2019 12:12 pm
staunchlydubious wrote:
Sat Nov 23, 2019 11:51 am
For those who have done the transition to a brokerage account, are your mutual fund shares then held in street name (registered in the name of Vanguard Brokerage Services), or does your ownership interest in the shares continue to be directly registered in your name on the books and records of the fund(s) you own?
Shares in a brokerage account are held in street name. Hold your shares as paper certificates or electronically at the Company’s Transfer Agent to be a “Shareholder of Record”.
Will Vanguard Brokerage accommodate your request to have your mutual fund shares registered directly in your name as Shareholder of Record? The last thing you want in a SIPC insolvency liquidation is to have your shares in street name.

HomeStretch
Posts: 2921
Joined: Thu Dec 27, 2018 3:06 pm

Re: Vanguard brokerage account transition

Post by HomeStretch » Sat Nov 23, 2019 2:39 pm

staunchlydubious wrote:
Sat Nov 23, 2019 2:35 pm
HomeStretch wrote:
Sat Nov 23, 2019 12:12 pm
staunchlydubious wrote:
Sat Nov 23, 2019 11:51 am
For those who have done the transition to a brokerage account, are your mutual fund shares then held in street name (registered in the name of Vanguard Brokerage Services), or does your ownership interest in the shares continue to be directly registered in your name on the books and records of the fund(s) you own?
Shares in a brokerage account are held in street name. Hold your shares as paper certificates or electronically at the Company’s Transfer Agent to be a “Shareholder of Record”.
Will Vanguard Brokerage accommodate your request to have your mutual fund shares registered directly in your name as Shareholder of Record? The last thing you want in a SIPC insolvency liquidation is to have your shares in street name.
I don’t believe so but call and ask. Post what you find out as it may be of interest to others.

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