Vanguard Customer Service Mega-thread

[Fallible]

I'm a 25+ year customer but I'm losing trust Vanguard can handle my money adequately. Is anyone else having the same feeling? ...

I'm a 34-year Vanguard customer and, yes, I am having the same feeling and for some of the same reasons - the many mistakes made in '21 and '22. There have been no mistakes since then because I've had no new dealings with them. The problem now, I'm realizing, is the confidence I've lost and whether I can get enough of it back to stay.

[pizzy]

"Not About Customer Service" before a post about customer service.

What are we doing here?

If you don't like Vanguard, leave. Why is that so hard for people that they'd rather complain?

[Unnecessary comment removed by moderator Kendall.]

[goingup]

I'm a 25+ year customer but I'm losing trust Vanguard can handle my money adequately. Is anyone else having the same feeling? ...

I'm a 34-year Vanguard customer and, yes, I am having the same feeling and for some of the same reasons - the many mistakes made in '21 and '22. There have been no mistakes since then because I've had no new dealings with them. The problem now, I'm realizing, is the confidence I've lost and whether I can get enough of it back to stay.

I have this nagging feeling that since moving from the mutual fund platform to brokerage account (and retitling that account to a Trust account) that we have lost transaction history. Well, maybe it's there and I just can't navigate like I used to. Regardless, it's frustrating.

My confidence has diminished. I see many of their changes as less than custom friendly. Not sure I see Jack's values reflected in the present-day Vanguard ethos. However, inertia has been my best quality as an investor and I have to wonder if things are really better at Schwab or Fidelity.

[MrCheapo]

I'm a 25+ year customer but I'm losing trust Vanguard can handle my money adequately. Is anyone else having the same feeling? ...

I'm a 34-year Vanguard customer and, yes, I am having the same feeling and for some of the same reasons - the many mistakes made in '21 and '22. There have been no mistakes since then because I've had no new dealings with them. The problem now, I'm realizing, is the confidence I've lost and whether I can get enough of it back to stay.

Thanks. Were you on the brokerage platform in 21/22? I'm transitioning my accounts so hoping that will fix the problem.

Also, what problems did you have exactly? Per a comment upthread, I'm keeping track of cost basis and balances to make sure they are not screwed up.

[MrCheapo]

I'm a 25+ year customer but I'm losing trust Vanguard can handle my money adequately. Is anyone else having the same feeling? ...

I'm a 34-year Vanguard customer and, yes, I am having the same feeling and for some of the same reasons - the many mistakes made in '21 and '22. There have been no mistakes since then because I've had no new dealings with them. The problem now, I'm realizing, is the confidence I've lost and whether I can get enough of it back to stay.

I have this nagging feeling that since moving from the mutual fund platform to brokerage account (and retitling that account to a Trust account) that we have lost transaction history. Well, maybe it's there and I just can't navigate like I used to. Regardless, it's frustrating.

My confidence has diminished. I see many of their changes as less than custom friendly. Not sure I see Jack's values reflected in the present-day Vanguard ethos. However, inertia has been my best quality as an investor and I have to wonder if things are really better at Schwab or Fidelity.

Good point about the transaction history. I'm copying that as well.

[ShadowRegent]

I fully understand the sentiment. I came to the same conclusion a few years ago when Vanguard completely broke my cost basis records in all of my holdings when converting from mutual funds to ETFs. It took a long time to get them to correct the error and the nature of the error caused my to question their competency. I'm a fan of Vanguard funds, but I left for another broker after that incident. I have never regretted that decision.

Can you explain how you found that out? I'm upgrading to the brokerage account and I'm presuming my cost basis will stay the same.

My situation was converting funds to ETFs (I had no issues upgrading to the brokerage account a while back). The error was very obvious, though. I converted three funds to ETFs, and they basically swapped the basis around for each in a way that made the numbers implausible. Imagine something like this:

Fund 1 - Current value $100,000 - Cost basis $80,000
Fund 2 - Current value - $20,000 - Cost basis $15,000
Fund 3 - Current value - $1,000 - Cost basis $800

After converting to ETFs, I ended up with something like:
ETF of Fund 1 - Current value $100,000 - Cost basis $800
ETF of Fund 2 - Current value - $20,000 - Cost basis $80,000
ETF of Fund 3 - Current value - $1,000 - Cost basis $15,000

As a result, I had completely wild gains and losses. These were covered shares, and if I'd have sold, these numbers would have been reported to the IRS. They eventually fixed it, but it took several months and many phone calls.

[MrCheapo]

I fully understand the sentiment. I came to the same conclusion a few years ago when Vanguard completely broke my cost basis records in all of my holdings when converting from mutual funds to ETFs. It took a long time to get them to correct the error and the nature of the error caused my to question their competency. I'm a fan of Vanguard funds, but I left for another broker after that incident. I have never regretted that decision.

Can you explain how you found that out? I'm upgrading to the brokerage account and I'm presuming my cost basis will stay the same.

My situation was converting funds to ETFs (I had no issues upgrading to the brokerage account a while back). The error was very obvious, though. I converted three funds to ETFs, and they basically swapped the basis around for each in a way that made the numbers implausible. Imagine something like this:

Fund 1 - Current value $100,000 - Cost basis $80,000
Fund 2 - Current value - $20,000 - Cost basis $15,000
Fund 3 - Current value - $1,000 - Cost basis $800

After converting to ETFs, I ended up with something like:
ETF of Fund 1 - Current value $100,000 - Cost basis $800
ETF of Fund 2 - Current value - $20,000 - Cost basis $80,000
ETF of Fund 3 - Current value - $1,000 - Cost basis $15,000

As a result, I had completely wild gains and losses. These were covered shares, and if I'd have sold, these numbers would have been reported to the IRS. They eventually fixed it, but it took several months and many phone calls.

I have the sneaking suspicion that these numbers are entered manually. Recall in my OP I mentioned two identifical MF (same ticker) in the same account. It turns out the account number differed by one digit in one compared to the other yet they are in the same account. It's just weird.

How did you print out the cost basis? Many times on the cost basis view the cost basis of the MF is missing.

[beyou]

I fully understand the sentiment. I came to the same conclusion a few years ago when Vanguard completely broke my cost basis records in all of my holdings when converting from mutual funds to ETFs. It took a long time to get them to correct the error and the nature of the error caused my to question their competency. I'm a fan of Vanguard funds, but I left for another broker after that incident. I have never regretted that decision.

Can you explain how you found that out? I'm upgrading to the brokerage account and I'm presuming my cost basis will stay the same.

You are confusing 2 different things.
Moving to brokerage involves keeping the same investments you have but held in a brokerage account that is now able to hold stocks and ETFs.
I did that transition and yes the system retained my cost basis on the mutual funds held in the mutual fund-only old accts.

What you may also do as a next step, if you so desire, is to convert a fund to it's ETF equivalent, after you do the above account transition.
You call the equity trading desk and ask them to convert, tax free, from a mutual fund to it's ETF equivalent and usually in a day or so you have the old fund removed, new ETF added with same cost basis.

The transition to brokerage was advertised as required at one time (though really isn't).
The conversion to ETF is most definitely not required.

[MrCheapo]

You are confusing 2 different things.
Moving to brokerage involves keeping the same investments you have but held in a brokerage account that is now able to hold stocks and ETFs.
I did that transition and yes the system retained my cost basis on the mutual funds held in the mutual fund-only old accts.

What you may also do as a next step, if you so desire, is to convert a fund to it's ETF equivalent, after you do the above account transition.
You call the equity trading desk and ask them to convert, tax free, from a mutual fund to it's ETF equivalent and usually in a day or so you have the old fund removed, new ETF added with same cost basis.

The transition to brokerage was advertised as required at one time (though really isn't).
The conversion to ETF is most definitely not required.

I understand that, but it's possible that the transition to brokerage could reset basis. Hence I wanted to know how he/her calculated it.

[LadyGeek]

I merged MrCheapo's thread into the ongoing discussion (customer service call is needed).

I have 1 SEP IRA account and 3 after tax accounts (1 worth $1.5M and the other two a few hundred thousand). All three (except the large after-tax account) have "transition account" buttons next to the top of the holdings. Is the size of the account the issue?

A search thru the threads here lead to automatic exchanges being an issue. I did have an automatic exchange set up which I deleted but still the transition account button does not show up. Any suggestions? Since Vanguard got ride of its Flagship representives, I often have to wait 20+ minutes for someone to answer.

[beyou]

You are confusing 2 different things.
Moving to brokerage involves keeping the same investments you have but held in a brokerage account that is now able to hold stocks and ETFs.
I did that transition and yes the system retained my cost basis on the mutual funds held in the mutual fund-only old accts.

What you may also do as a next step, if you so desire, is to convert a fund to it's ETF equivalent, after you do the above account transition.
You call the equity trading desk and ask them to convert, tax free, from a mutual fund to it's ETF equivalent and usually in a day or so you have the old fund removed, new ETF added with same cost basis.

The transition to brokerage was advertised as required at one time (though really isn't).
The conversion to ETF is most definitely not required.

I understand that, but it's possible that the transition to brokerage could reset basis. Hence I wanted to know how he/her calculated it.

The transition retainer my basis, as did the etf conversion.
I also moved brokerage holdings to a brokerage trust acct, and that retained basis. Of these 3 events, I do not recall how long each process took, but at least in one of them the basis took an extra day to update after the rest of data.

Vanguard knows what we need, but there may be manual intervention or some unusual circumstances that may lead to exceptions. But each and every change I requested ended up accurately retaining basis.

[MrCheapo]

The transition retainer my basis, as did the etf conversion.
I also moved brokerage holdings to a brokerage trust acct, and that retained basis. Of these 3 events, I do not recall how long each process took, but at least in one of them the basis took an extra day to update after the rest of data.

Vanguard knows what we need, but there may be manual intervention or some unusual circumstances that may lead to exceptions. But each and every change I requested ended up accurately retaining basis.

That's great it worked out for you but it is possible what happened to @ShadowRegency happens again.

[beyou]

The transition retainer my basis, as did the etf conversion.
I also moved brokerage holdings to a brokerage trust acct, and that retained basis. Of these 3 events, I do not recall how long each process took, but at least in one of them the basis took an extra day to update after the rest of data.

Vanguard knows what we need, but there may be manual intervention or some unusual circumstances that may lead to exceptions. But each and every change I requested ended up accurately retaining basis.

That's great it worked out for you but it is possible what happened to @ShadowRegency happens again.

Anything is possible.
It is highly likely that the process works fine for the vast majority and not some edge cases.
Take a snapshot of your holdings before any major change at any brokerage, including not just cost basis.
So if you are the edge case, you will know and can submit to your current or new brokerage if you decide to move.
This one topic is useful to warn people to be vigilant, but not useful due to the paranoia it is generating.
No brokerage or bank is perfect.

[Fallible]

I'm a 25+ year customer but I'm losing trust Vanguard can handle my money adequately. Is anyone else having the same feeling? ...

I'm a 34-year Vanguard customer and, yes, I am having the same feeling and for some of the same reasons - the many mistakes made in '21 and '22. There have been no mistakes since then because I've had no new dealings with them. The problem now, I'm realizing, is the confidence I've lost and whether I can get enough of it back to stay.

Thanks. Were you on the brokerage platform in 21/22? I'm transitioning my accounts so hoping that will fix the problem.

Also, what problems did you have exactly? Per a comment upthread, I'm keeping track of cost basis and balances to make sure they are not screwed up.

I'll just say that the mistakes mostly involved changes in estate planning while others were made during the transition to a brokerage account (like opening an account and failing to transfer funds into it until I called). When I look back on it now, the main problem was finding the right people with sufficient expertise in areas of estate planning, which then somehow got tangled up with people whose main purpose was to get mutual fund clients into brokerage accounts. Once I found the right person in estate planning, the mistakes were corrected and the changes made and I couldn't thank him enough. I then was able to deal separately with the persistent brokerage people (marketing?) and eventually the transition was made.

[Clarky]

"Not About Customer Service" before a post about customer service.

What are we doing here?

If you don't like Vanguard, leave. Why is that so hard for people that they'd rather complain?

[Unnecessary comment removed by moderator Kendall.]

It is so annoying.

[Clarky]

I'm a 25+ year customer but I'm losing trust Vanguard can handle my money adequately. Is anyone else having the same feeling? ...

I'm a 34-year Vanguard customer and, yes, I am having the same feeling and for some of the same reasons - the many mistakes made in '21 and '22. There have been no mistakes since then because I've had no new dealings with them. The problem now, I'm realizing, is the confidence I've lost and whether I can get enough of it back to stay.

I have this nagging feeling that since moving from the mutual fund platform to brokerage account (and retitling that account to a Trust account) that we have lost transaction history. Well, maybe it's there and I just can't navigate like I used to. Regardless, it's frustrating.

My confidence has diminished. I see many of their changes as less than custom friendly. Not sure I see Jack's values reflected in the present-day Vanguard ethos. However, inertia has been my best quality as an investor and I have to wonder if things are really better at Schwab or Fidelity.

Judging from my Fidelity-managed 401k, they’re not.

[Clarky]

The transition retainer my basis, as did the etf conversion.
I also moved brokerage holdings to a brokerage trust acct, and that retained basis. Of these 3 events, I do not recall how long each process took, but at least in one of them the basis took an extra day to update after the rest of data.

Vanguard knows what we need, but there may be manual intervention or some unusual circumstances that may lead to exceptions. But each and every change I requested ended up accurately retaining basis.

That's great it worked out for you but it is possible what happened to @ShadowRegency happens again.

It’s possible what happened is a lack of patience.

[MrCheapo]

[This new thread merged into thread with previous MrCheapo's discussion on same situation. Moderator Pops1860]

Has this happened to anyone else? Did it work well and what to look out for?

I have three MF platformed after-tax accounts. Two small accounts were successful transfered to the Brokerage platform, but the third larger (7 figures) could not and Vanguard just don't know how to. We've tried for several days various fixes.

Their solution is to manually fund by fund transfer from the left over MF account to one of the two Brokerage accounts. The repesentative said it was not commonly done so I'm asking if anyone here has had it done before so i can learn from your experiences.

Thanks.

[pizzy]

Their solution is to manually fund by fund transfer from the left over MF account to one of the two Brokerage accounts.

This sounds like a reasonable solution. While they are at it, you should have them combine everything into one account.

Will make it easier when you move it to Fidelity.

[stan1]

We did have a situation once where a phone rep told us to exchange a mutual fund from one taxable account to another taxable account (on the old platform not the brokerage platform). He assured us there was special logic to handle this as an in-kind transfer not a sell then buy. However, when we told him to do the transfer he refused to do it and told us we would need to do it. We did not feel comfortable taking his word that an exchange would be handled as an in-kind transfer. We did not do it, and came up with another work around.

[retiringwhen]

I have done many in-kind transfers (over 10) from one account to another for reasons other than brokerage upgrade.

Vanguard has a form I fill out to request the transaction. This has been done on both the old platform and the new brokerage platform but never from old to new. It always worked and basis,etc. all carried over.

I will note that once, there was a data entry error by the human in the loop that had to be fixed (sent to the wrong account, one of ours, but the wrong one). The lesson from that error was put each request for in-kind transfers in independently if there are different accounts involved (the CSR agreed that this was a good protection from that error).

[MrCheapo]

Thanks for your informed opinion. You use the terminology "in-kind" transfer, is this what Vanguard means when they do a manual transfer? Just want to make sure we are comparing the same transaction type because I was told this was done over the phone not via a form.

Glad to know there are data entry issues as well. I had thought this was all computer driven but I guess it's literally a human in the loop.

I have done many in-kind transfers (over 10) from one account to another for reasons other than brokerage upgrade.

Vanguard has a form I fill out to request the transaction. This has been done on both the old platform and the new brokerage platform but never from old to new. It always worked and basis,etc. all carried over.

I will note that once, there was a data entry error by the human in the loop that had to be fixed (sent to the wrong account, one of ours, but the wrong one). The lesson from that error was put each request for in-kind transfers in independently if there are different accounts involved (the CSR agreed that this was a good protection from that error).

[retiringwhen]

Thanks for your informed opinion. You use the terminology "in-kind" transfer, is this what Vanguard means when they do a manual transfer? Just want to make sure we are comparing the same transaction type because I was told this was done over the phone not via a form.

Glad to know there are data entry issues as well. I had thought this was all computer driven but I guess it's literally a human in the loop.

I have done many in-kind transfers (over 10) from one account to another for reasons other than brokerage upgrade.

Vanguard has a form I fill out to request the transaction. This has been done on both the old platform and the new brokerage platform but never from old to new. It always worked and basis,etc. all carried over.

I will note that once, there was a data entry error by the human in the loop that had to be fixed (sent to the wrong account, one of ours, but the wrong one). The lesson from that error was put each request for in-kind transfers in independently if there are different accounts involved (the CSR agreed that this was a good protection from that error).

In-kind just means they move the asset without liquidating to cash for the transfer. If you are moving a fund like VTSAX from one account to another same shares, etc. then it is an in-kind transfer.

Yes, these kinds of moves are human in the loop, in part because there needs to be a lot of checking on ownership, etc.

[swaption]

[Thread merged into here --admin LadyGeek]

I can’t believe I’m saying this, but after decades I’m considering leaving Vanguard. Interested in thoughts and experience of others. Trust is way more important than a few basis points of return.

For the past couple of years I’ve been an apologist, mostly with my kids accounts, but a recent incident was stunning. The context has been an alarmingly complex process to set up a Roth for my oldest child. I work at a FINRA firm, so there are some extra compliance steps, but all things that should be standard operating procedure. It was not, it was a train wreck. The process was so bad that my daughter actually missed the deadline for the first year of contributions. Real conversations happened where my daughter asked me how I can do business with this company. I of course gave her the standard assurances.

Fast forward, we wanted to make some changes in her UGMA. I realize I can’t, she’s now 22. So time to transfer ownership. I call, can’t do it, told she has to do it. She calls, someone walks her through ho to do it online. Figure at this point only had to do wait for the assets to move. Simple, right? Wrong.

For some reason only half the assets moved. Back on the phone with Vanguard. Now she can’t do it, but apparently I can. I call. They see the issue, but couldn’t really explain it. Indicated they would fix, and would take a few days to process. Got an email confirm the other day. Maybe we finally had this fixed? Lol!

Logged in. Frustratingly, I still see my older daughter’s UGMA assets. But strangely my younger daughter’s UGMA assets are not there! What in the world? Call Vanguard. Yes, they had done the unthinkable, they transferred my younger daughter’s assets to my older daughter’s account! They of course will fix, but once again 5-7 days. Someone has erroneous assets in their account belonging to someone else, and this takes 5-7 days?

Honestly, so many issues here. Like I said, trust is now a legitimate question. I’d be interested to hear the experiences of others.

[Jimbo Moneybags]

I can’t believe I’m saying this, but after decades I’m considering leaving Vanguard. Interested in thoughts and experience of others.

[SNIP]

I’d be interested to hear the experiences of others.

Did you read any of the hundreds of existing posts from Bogleheads expressing their dissatisfaction with VG? Those should give you plenty of reading material regarding the thoughts and experiences of others.

[kobbiemandd]

I’m with you on this. A month ago, in anticipation of having to begin RMD next year, I had a 457b plan transferred to my Vanguard rollover IRA. The online forms and instructions were straightforward but after the funds were transferred I noticed they doubled the amount. I let them know and they fixed it but this kind of thing should not happen. I read more and more of this from others to the point that I am looking into moving my assets out of there.

[Nate79]

You sound surprised.

[swaption]

I can’t believe I’m saying this, but after decades I’m considering leaving Vanguard. Interested in thoughts and experience of others.

[SNIP]

I’d be interested to hear the experiences of others.

Did you read any of the hundreds of existing posts from Bogleheads expressing their dissatisfaction with VG? Those should give you plenty of reading material regarding the thoughts and experiences of others.

Honestly, not really, maybe have seen a bit. Used to be active here and the predecessor at M*, but not much of late. It’s a real problem. The entire basis of company is that individual investors can do it on their own. Not really if there is this content concern regarding these kinds of mistakes.

[radiowave]

I can’t believe I’m saying this, but after decades I’m considering leaving Vanguard. Interested in thoughts and experience of others. Trust is way more important than a few basis points of return.

For the past couple of years I’ve been an apologist, mostly with my kids accounts, but a recent incident was stunning. The context has been an alarmingly complex process to set up a Roth for my oldest child. I work at a FINRA firm, so there are some extra compliance steps, but all things that should be standard operating procedure. It was not, it was a train wreck. The process was so bad that my daughter actually missed the deadline for the first year of contributions. Real conversations happened where my daughter asked me how I can do business with this company. I of course gave her the standard assurances.

Fast forward, we wanted to make some changes in her UGMA. I realize I can’t, she’s now 22. So time to transfer ownership. I call, can’t do it, told she has to do it. She calls, someone walks her through ho to do it online. Figure at this point only had to do wait for the assets to move. Simple, right? Wrong.

For some reason only half the assets moved. Back on the phone with Vanguard. Now she can’t do it, but apparently I can. I call. They see the issue, but couldn’t really explain it. Indicated they would fix, and would take a few days to process. Got an email confirm the other day. Maybe we finally had this fixed? Lol!

Logged in. Frustratingly, I still see my older daughter’s UGMA assets. But strangely my younger daughter’s UGMA assets are not there! What in the world? Call Vanguard. Yes, they had done the unthinkable, they transferred my younger daughter’s assets to my older daughter’s account! They of course will fix, but once again 5-7 days. Someone has erroneous assets in their account belonging to someone else, and this takes 5-7 days?

Honestly, so many issues here. Like I said, trust is now a legitimate question. I’d be interested to hear the experiences of others.

Had a related issue in transfer into VG from my DW external TIAA account. It was a cash transfer IRA to IRA. They lost/mangled the check and somehow someone decided to cover the funds from our linked bank account in our taxable account?? Spent many hours on the phone trying to get that fixed. Yes, eventually it got straightened out be we lost confidence in VG so moved everything to Schwab.

[LadyGeek]

I merged swaption's thread into the ongoing discussion. We have several ongoing threads:

For those interested in moving funds out of Vanguard, please see The Final, Definitive Thread on Brokerage Transfer Bonuses. Fidelity, Schwab, and several other brokerages are offering financial incentives to get your business.

Website: Vanguard website succumbs to "Fisher-Price" UI design

Vanguard mobile app: Vanguard's new mobile app (formerly known as "Beacon")

(Thanks to the member who reported the post and provided a link to this thread.)

[lazyday]

(snip) after decades I’m considering leaving Vanguard. Interested in thoughts and experience of others. Trust is way more important than a few basis points of return.

Vanguard was slow in IRA rollovers from and to credit union CDs. But I never noticed any mistakes or failures.

There are only three brokers I might consider using:

Vanguard’s ownership structure aligns well with investor interests, as explained by Swensen in Unconventional Success. I trust Vanguard more than others to not find creative ways to skim little bits of money from me, or trick me into making a terrible and costly decision. Especially if I suffer cognitive decline.

The culture is said to be conservative, so for example even in a financial apocalypse our accounts might be intact and available. If we avoid margin accounts, brokers are supposed to segregate customer assets, but who knows what can happen in the real world.

For anything even a little bit complicated, Vanguard might not be the best choice. Although people with bad experiences are more likely to post than those who are happy, it does seem Vanguard has a mediocre reputation these days. I believe in a recent interview, a manager admitted to problems caused by unintentional understaffing. Maybe at Morningstar.

Fidelity is a privately owned for profit company. Swensen argues that compared to publicly traded companies (I’m thinking of Schwab) private ownership better aligns interests with investors. Of course Fidelity has more conflict of interest than Vanguard.

Like at Vanguard, Fidelity cash automatically sweeps into money market funds that pay decent interest. Unless you choose CMA. Fidelity doesn’t take payment for order flow for stock/ETF shares, and seems to be more transparent about price improvement than some of the other major brokers. https://www.fidelity.com/trading/execut ... y/overview As I recall, a few years ago Fidelity already provided reports but I couldn’t find price improvement reports for Schwab, Wellstrade, and maybe for Merrill Edge.

Fidelity seems to have a good reputation for customer service.

Interactive Brokers I haven’t researched much. If I were to for example, build a passive portfolio of non-ADR foreign shares, I’d look into IB. Or if I spent a lot of time comparing secondary market Treasuries or brokered CDs, I might try IB to see if there’s any benefit to their interface or screeners. I haven’t seen any opinions on fixed income at IB.

[ClevrChico]

[Thread merged into here --admin LadyGeek]
I’d be interested to hear the experiences of others.

Vanguard for me is smooth sailing. But, I'm currently trying to resolve mistakes with a payroll processor and a large bank,which is going very slowly. Customer service is almost non-existent at many companies these days. The grass may not be greener elsewhere.

[blueskytoo]

In the past three years, I converted a 401K into a Roth IRA and a conventional IRA at Vanguard.

In order to assure that ALL, to the penny, after tax assets went into the Roth, the transfer and split was made by phone.

The first associate apologized, this was something he was not trained in, would I hold again, to speak with a specialist? Yes, of course, that is exactly what I want.
Long hold, of course.
When the specialist had completed the SETUP, he called a supervisor, who reviewed just what I intended to happen, we agreed, and he told my rep to push the button. The process was a success. All the funds were in the new accounts, in exact proportion, and the old account was empty.

I think the whole process, wait time etc. included took well over 2 hours, but done right.

I have 4 accounts at Vanguard, and am happy with them.....most of the time. But they have superior products that meet my desires.

I also have 3 accounts at Fidelity, they meet different needs, and are where my trading is done. Customer service is exceptional. Brick and mortar is a valuable feature for a customer who occasionally needs a gold signature guarantee, my banks do not have this service. Their high transaction fees for VG mutual funds keeps those funds at VG. Their statements are far superior to VG's, for easily tracking all that has happened this month, and year. Personal opinion there, son prefers VG.


There have been many errors in transactions in the Boglehead messages above, and I wonder if many of them stem from the customer failing to carefully and accurately listen to the final readback, and catch errors in account numbers, etc. I have avoided such mistakes in the past, and could have been much distressed if they had gone through as proposed. They make mistakes in hearing, and enter wrong data, we fail to correctly hear the readback, and damage occurs. Two errors, both ends of the phone call. Be certain that you are doing ALL of your part of the transaction.

The sky is not falling, we just have some sleet once in a while!