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Vanguard customer service is horrible

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  • #16
    Originally posted by doctorbone View Post
    can you transfer VG mutual fund to Schwab without selling them?
    Normally it should not be problem but I am apprehensive about doing it. I fear that incompetent reps might "mishear" me and sell the mutual funds and transfer the money and I will be left holding the bag with capital gains. Right now I only have a small Roth , a UTMA for my daughter and a brokerage account at Vanguard and since I don't need that money now and have no issues with Vanguard funds ( only their customer service) I thought I will let sleeping dogs lie for a few more years.

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    • #17
      Originally posted by docnews View Post
      Calling on a weekend before tax day = bad service at every financial institution. Plus I'm willing to accept a wait to keep my basis points costs low.
      Not for me at Fidelity. 24/7 I get a live voice. Usually knowledgeable, but all departments aren’t open 24/7 (never expected that either). I do get prompt answers and at least assistance.

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      • #18
        Originally posted by doctorbone View Post

        can you transfer VG mutual fund to Schwab without selling them?
        You can transfer-in-kind so no selling occurs, you keep the shares you own. I would use the transfer form of the receiving brokerage. Typically they’ll also want a copy of the latest statement from your current VG account.

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        • #19
          Cant you also go VTSAX-->VTI (shouldnt incur capital gains at vanguard I think), then transfer the etfs in kind to an outside brokerage?

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          • #20
            https://www.inquirer.com/business/va...outputType=amp

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            • #21
              Originally posted by Hatton View Post
              I have never had a problem with VG. I assume everyone posting here has a flagship account with an assigned rep. I do not call with financial questions just account issues so I rarely call. Maybe once every other year.
              I also used to have a specific Flagship rep, but Vanguard changed their model. Now even Flagship Services forces you to a screen that first tries to get you to read some FAQs before giving you an “appropriate” number. Once you have seen it it is easy to step through with a few clicks to get a number. Not what I would label good customer service though.

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              • #22
                Originally posted by Larry Ragman View Post

                I also used to have a specific Flagship rep, but Vanguard changed their model. Now even Flagship Services forces you to a screen that first tries to get you to read some FAQs before giving you an “appropriate” number. Once you have seen it it is easy to step through with a few clicks to get a number. Not what I would label good customer service though.
                I think the bad press “might” lead to improvement.

                Who knows?

                They must have hired some morons.

                The website is fine for 99.99% of what i need.

                They need to save $, i get that but they have made foolish mistakes.

                For example they “upgraded” the iphone app and actually made it less useful.

                i cannot manipulate my solo 401k or my LP funds in the new app but could easily do this in the old app.

                Not all change is progress.

                In 2013 I had a direct line to Tom (Flagship dude) and he had a few functional neurons.

                They took away that phone # and now i go into the bs hold and push 1 for English type crap.

                VG was great in 2010, now it is not as good IMO

                Get off my lawn.

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                • #23
                  If I had $0.05 for every Vanguard customer service-bashing thread on Bogleheads…

                  Unhappy with the service? Move to Fidelity or Schwab. End of.

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                  • #24
                    Originally posted by billy View Post
                    Cant you also go VTSAX-->VTI (shouldnt incur capital gains at vanguard I think), then transfer the etfs in kind to an outside brokerage?
                    From the website below. Italic is my own highlight. But yeah, this is what I would do if I had vanguard and wanted to switch to a different brokerage by transferring in kind. You can buy ETFs for basically free anywhere. It costs quite a bit to buy vanguard mutual funds at other brokerages.

                    ---

                    Can I convert my conventional Vanguard mutual fund shares to Vanguard ETF Shares?

                    Yes. Most funds that offer ETF Shares will allow you to convert from conventional shares of the same fund to ETF Shares. (Four of our bond ETFs—Total Bond Market, Short-Term Bond, Intermediate-Term Bond, and Long-Term Bond—don't allow for conversions.)

                    Conversions are allowed from both Investor and Admiral™ Shares and are tax-free if you own your mutual fund and ETF Shares through Vanguard.

                    Keep in mind that you can't convert ETF Shares back to conventional shares. If you decide in the future to sell your Vanguard ETF Shares and repurchase conventional shares, that transaction could be taxable.

                    If you have a brokerage account at Vanguard, there's no charge to convert conventional shares to ETF Shares. If you own your Vanguard mutual fund shares through another broker, keep in mind that some brokers may not be able to convert fractional shares, which could result in a modest taxable gain for you. Other brokers may also charge a fee for a conversion. Contact your broker for more information.

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                    • #25
                      Originally posted by Bmac View Post
                      If I had $0.05 for every Vanguard customer service-bashing thread on Bogleheads…

                      Unhappy with the service? Move to Fidelity or Schwab. End of.
                      Well, it is like watching a friend's kid who was a really good kid with great grades start doing meth.

                      Sure, you could just ignore the kid and not let your kids play with him but it still is a sad situation.

                      Bogle basically founded VG to be better and more helpful and less greedy than Fid and Schwab et al. and this forced those critters to lower prices.

                      VG had low prices AND great customer service when I got starting investing in earnest circa 2009.

                      Hate to see a good kid go bad. What a waste.

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                      • #26
                        I am curious to know

                        A long time ago Schwab and Fidelity had high fees and high ER funds that helped maintain their offices and pay those FA and support staff. Vanguard had just a website and a phone number and had low or no fees.

                        Now the other two have the same no/low fees and ER as Vanguard on most shares, ETF and funds in similar tiers. So how do they make money to maintain those offices and staff and provide these services and keep low ER ratios as Vanguard and Vanguard cannot even provide proper telephone support? Where is the money going to in Vanguard.

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                        • #27
                          One of my son in law's works for Fidelity. The training they obtain is fabulous though just like any business, there are outliers. I have said for 15-20+ years that they have the best customer service of ANY company I've ever dealt with regardless of the type of business (financial, retail, cable, etc).
                          Last edited by Hawkeye225; 04-22-2022, 05:10 PM.

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                          • #28
                            Originally posted by Kamban View Post
                            I am curious to know

                            A long time ago Schwab and Fidelity had high fees and high ER funds that helped maintain their offices and pay those FA and support staff. Vanguard had just a website and a phone number and had low or no fees.

                            Now the other two have the same no/low fees and ER as Vanguard on most shares, ETF and funds in similar tiers. So how do they make money to maintain those offices and staff and provide these services and keep low ER ratios as Vanguard and Vanguard cannot even provide proper telephone support? Where is the money going to in Vanguard.
                            The messaging was that the unique legal structure, the funds actually own the parent was supposed to mean lower fees. Basically any money paid to the parent would actually then reduce the amount charged in mgt fees. The assumption is control and where the management company actually chose to spend money.
                            Jack Bogle has been gone for a long long time from Vanguard's management.

                            Well, as an owner of a significant amount of shares maybe one should call the Corporate Office and complain. The point is the ownership structure is effective "messaging". Not fiduciary, it's a brokerage.

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                            • #29
                              vanguards new app didnt allow me to buy today using my bank account- it only allowed money already in the settlement account. Big fail. I used the website, but lil things like this are slowly turning me into a fidelity person

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