I think of retired investors who I know. This would be very helpful and appreciated to automate the process and not have to log into the accounts as much.
Come on Vanguard!
Best.
Tony
I think of retired investors who I know. This would be very helpful and appreciated to automate the process and not have to log into the accounts as much.
Yes! This would be a great feature.
Were you a known part of a pilot program or notified by E-Mail that this was now enabled, or none of the above and just noticed the capability had been added?roth evangelist wrote: ↑Tue Apr 05, 2022 1:47 pm This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
Can confirm the option for fractional ETF shares (based on $ amounts) for market orders of Vanguard ETFs is available as an option, at least on the mobile app. I was not involved in the pilot.roth evangelist wrote: ↑Tue Apr 05, 2022 1:47 pm This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
I never got any email about a pilot program.Cheez-It Guy wrote: ↑Tue Apr 05, 2022 1:52 pmWere you a known part of a pilot program or notified by E-Mail that this was now enabled, or none of the above and just noticed the capability had been added?roth evangelist wrote: ↑Tue Apr 05, 2022 1:47 pm This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
Is this available in the mobile app or the website?roth evangelist wrote: ↑Tue Apr 05, 2022 5:44 pmI never got any email about a pilot program.Cheez-It Guy wrote: ↑Tue Apr 05, 2022 1:52 pmWere you a known part of a pilot program or notified by E-Mail that this was now enabled, or none of the above and just noticed the capability had been added?roth evangelist wrote: ↑Tue Apr 05, 2022 1:47 pm This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
Funny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.beyou wrote: ↑Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?
Too little too late.
Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
Haven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?Fpdesignco wrote: ↑Tue Apr 05, 2022 6:21 pmFunny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.beyou wrote: ↑Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?
Too little too late.
Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
Really, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed onMakefile wrote: ↑Tue Apr 05, 2022 6:27 pmHaven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?Fpdesignco wrote: ↑Tue Apr 05, 2022 6:21 pmFunny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.beyou wrote: ↑Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?
Too little too late.
Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
Dunno, I was just googling around. Seems virtually all credit card authorizations and airline reservations are still done via IBM mainframes. And agreed there is a difference between "moving some parts of the organization to the cloud" and getting into a situation where major fund companies can't operate while us-east-1 is down or whatever.beyou wrote: ↑Tue Apr 05, 2022 8:02 pmReally, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed onMakefile wrote: ↑Tue Apr 05, 2022 6:27 pmHaven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?Fpdesignco wrote: ↑Tue Apr 05, 2022 6:21 pmFunny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.beyou wrote: ↑Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?
Too little too late.
Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
my Linux servers in a data center we controlled.
I work in the Financial Services space (transactions) and yes the major back ends still are heavily reliant on mainframes for all the brands. Also, other legacy tech (I.e. tandems) and other cloud unfriendly tech that makes the major systems very slow to move but it will eventually happen (in general microservice architecture that can go anywhere).Makefile wrote: ↑Tue Apr 05, 2022 8:35 pmDunno, I was just googling around. Seems virtually all credit card authorizations and airline reservations are still done via IBM mainframes. And agreed there is a difference between "moving some parts of the organization to the cloud" and getting into a situation where major fund companies can't operate while us-east-1 is down or whatever.beyou wrote: ↑Tue Apr 05, 2022 8:02 pmReally, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed onMakefile wrote: ↑Tue Apr 05, 2022 6:27 pmHaven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?Fpdesignco wrote: ↑Tue Apr 05, 2022 6:21 pmFunny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.beyou wrote: ↑Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?
Too little too late.
Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
my Linux servers in a data center we controlled.
Investment management firms have far more expenditure modernizing tech, mainly due to ever increasing complexity of the applications. Systems are often migrated to new applications,that can trade complex newer asset classes, and when they do, nobody is moving to a mainframe. What is more likely still on mainframes is the fund shareholder and 401k participant systems that have far less volatile bus requirements hence less common to move to new app and hence servers.Makefile wrote: ↑Tue Apr 05, 2022 8:35 pmDunno, I was just googling around. Seems virtually all credit card authorizations and airline reservations are still done via IBM mainframes. And agreed there is a difference between "moving some parts of the organization to the cloud" and getting into a situation where major fund companies can't operate while us-east-1 is down or whatever.beyou wrote: ↑Tue Apr 05, 2022 8:02 pmReally, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed onMakefile wrote: ↑Tue Apr 05, 2022 6:27 pmHaven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?Fpdesignco wrote: ↑Tue Apr 05, 2022 6:21 pmFunny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.beyou wrote: ↑Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?
Too little too late.
Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
my Linux servers in a data center we controlled.
Not sure about the app because I've never downloaded it. I do everything on my browser.lostdog wrote: ↑Tue Apr 05, 2022 6:11 pmIs this available in the mobile app or the website?roth evangelist wrote: ↑Tue Apr 05, 2022 5:44 pmI never got any email about a pilot program.Cheez-It Guy wrote: ↑Tue Apr 05, 2022 1:52 pmWere you a known part of a pilot program or notified by E-Mail that this was now enabled, or none of the above and just noticed the capability had been added?roth evangelist wrote: ↑Tue Apr 05, 2022 1:47 pm This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
There was a youtube video a couple months ago that described Vanguard’s modernization journey to cloud native on AWS. No wonder why there are changes and glitches with so much happening behind the scenes with the technology. A major undertaking on Vanguard's part while learning as they make changes. I just wonder if VG will ever announce once they are 100% cloud?Fpdesignco wrote: ↑Tue Apr 05, 2022 9:09 pmI work in the Financial Services space (transactions) and yes the major back ends still are heavily reliant on mainframes for all the brands. Also, other legacy tech (I.e. tandems) and other cloud unfriendly tech that makes the major systems very slow to move but it will eventually happen (in general microservice architecture that can go anywhere).Makefile wrote: ↑Tue Apr 05, 2022 8:35 pmDunno, I was just googling around. Seems virtually all credit card authorizations and airline reservations are still done via IBM mainframes. And agreed there is a difference between "moving some parts of the organization to the cloud" and getting into a situation where major fund companies can't operate while us-east-1 is down or whatever.beyou wrote: ↑Tue Apr 05, 2022 8:02 pmReally, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed onMakefile wrote: ↑Tue Apr 05, 2022 6:27 pmHaven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?Fpdesignco wrote: ↑Tue Apr 05, 2022 6:21 pm
Funny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.
my Linux servers in a data center we controlled.
For Vanguards-particular space though mainframes in todays world would surprise me, but then again perhaps not as most major banks are not exactly living on the cutting edge for a lot of the core systems so perhaps broker/dealers are the same ?
None of the big players in funds are 100% in the cloud and for reasons that wont change fast.Eagle33 wrote: ↑Wed Apr 06, 2022 6:40 pmThere was a youtube video a couple months ago that described Vanguard’s modernization journey to cloud native on AWS. No wonder why there are changes and glitches with so much happening behind the scenes with the technology. A major undertaking on Vanguard's part while learning as they make changes. I just wonder if VG will ever announce once they are 100% cloud?Fpdesignco wrote: ↑Tue Apr 05, 2022 9:09 pmI work in the Financial Services space (transactions) and yes the major back ends still are heavily reliant on mainframes for all the brands. Also, other legacy tech (I.e. tandems) and other cloud unfriendly tech that makes the major systems very slow to move but it will eventually happen (in general microservice architecture that can go anywhere).Makefile wrote: ↑Tue Apr 05, 2022 8:35 pmDunno, I was just googling around. Seems virtually all credit card authorizations and airline reservations are still done via IBM mainframes. And agreed there is a difference between "moving some parts of the organization to the cloud" and getting into a situation where major fund companies can't operate while us-east-1 is down or whatever.beyou wrote: ↑Tue Apr 05, 2022 8:02 pmReally, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed onMakefile wrote: ↑Tue Apr 05, 2022 6:27 pm
Haven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?
my Linux servers in a data center we controlled.
For Vanguards-particular space though mainframes in todays world would surprise me, but then again perhaps not as most major banks are not exactly living on the cutting edge for a lot of the core systems so perhaps broker/dealers are the same ?
Same here. I just used my wife's account to make MY sweep account zero and put a fractional share in VCIT. Couldn't do it on mine.
While I'll continue to transact in whole shares myself, I think this is a nice feature, especially for investors just starting out. I'm not sure whether this capability is available to everyone right now or whether there's a phased rollout.Vanguard wrote:Now you can buy and sell Vanguard ETFs based on how much you want to invest, not on how many shares you can afford. With as little as $1, you can start investing.
Example: Say you have $100 to invest in a Vanguard ETF with a share price of $150. Buying in dollars allows you to purchase just a part of that ETF share. With your $100 you can buy 0.67 shares instead of having to wait until you can afford a whole share.
Additional details
*Dollar-based orders have a $1 minimum.
*Dollar-based trading is exclusive to Vanguard ETFs.
*Vanguard ETFs are traded commission-free, like most stock & ETF trades through Vanguard Brokerage Services.
*Dollar-based orders are restricted to market orders which execute immediately (or the next market day if you place an order when the market is closed).
*SpecID (specific identification) is not available as a cost basis method for dollar-based sell orders.
You can't sell specific lots as dollar amounts. You need to sell by number of shares / entire lot.
I'm not sure. I only recently got this capability. I'm curious to see whether everyone has it now or not.
Given that it's taken 6 months to roll this out to a wider audience (not everyone has access to it yet.) I would definitely not expect it any time soon.kvdecide wrote: ↑Thu Jun 23, 2022 2:20 am Ideally, Vanguard need to let me input the following:
1) a market order for an ETF, specifying how many dollars I want to invest
2) a time when that order should be executed (range is ok)
3) how often I want that trade to execute (daily, weekly, monthly, fortnightly etc)
This will not only let me automate the purchase but also select the frequency of my DCA. I am glad they are atleast doing item 1 nowBut when will they do the items 2 and 3?