Customers having difficulty accessing vanguard accounts

General Discussion on the Permanent Portfolio Strategy

Moderator: Global Moderator

Post Reply
murphy_p_t
Executive Member
Executive Member
Posts: 1675
Joined: Fri Jul 02, 2010 3:44 pm

Customers having difficulty accessing vanguard accounts

Post by murphy_p_t » Wed Dec 29, 2021 1:35 pm

Good time to have diversification, as recommended for the pp.

https://www.marketwatch.com/story/vangu ... siteid=rss
User avatar
vnatale
Executive Member
Executive Member
Posts: 9423
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

Re: Customers having difficulty accessing vanguard accounts

Post by vnatale » Wed Dec 29, 2021 4:40 pm

murphy_p_t wrote:
Wed Dec 29, 2021 1:35 pm

Good time to have diversification, as recommended for the pp.

https://www.marketwatch.com/story/vangu ... siteid=rss


Thank you for this.

Quite concerning since I have just about all at Vanguard. Was going to log in to my account today but I think I've successfully procrastinated that to tomorrow.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: Customers having difficulty accessing vanguard accounts

Post by mathjak107 » Wed Dec 29, 2021 5:10 pm

I am glad I took my money out of vanguard ….I won’t deal with them for so many reasons
User avatar
I Shrugged
Executive Member
Executive Member
Posts: 2062
Joined: Tue Dec 18, 2012 6:35 pm

Re: Customers having difficulty accessing vanguard accounts

Post by I Shrugged » Wed Dec 29, 2021 6:28 pm

I just did a transaction. It went fine.
Don
Executive Member
Executive Member
Posts: 286
Joined: Fri Apr 21, 2017 6:21 pm

Re: Customers having difficulty accessing vanguard accounts

Post by Don » Wed Dec 29, 2021 9:15 pm

mathjak107 wrote:
Wed Dec 29, 2021 5:10 pm
I am glad I took my money out of vanguard ….I won’t deal with them for so many reasons
I've never had a problem with them but I don't like that they've gone woke.
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: Customers having difficulty accessing vanguard accounts

Post by mathjak107 » Thu Dec 30, 2021 3:37 am

I have had nothing but issues with customer service as well as their ridiculous policies as well as their self serving bull shit they pull
User avatar
Hal
Executive Member
Executive Member
Posts: 1349
Joined: Tue May 03, 2011 1:50 am

Re: Customers having difficulty accessing vanguard accounts

Post by Hal » Thu Dec 30, 2021 4:41 am

mathjak107 wrote:
Thu Dec 30, 2021 3:37 am
I have had nothing but issues with customer service as well as their ridiculous policies as well as their self serving bull shit they pull
Hi Mathjak et al,
Would you be able to expand on the issues you've experienced. Just have their ETF's, so what joys will await me if I have to deal with them directly :o
Aussie GoldSmithPP - 25% PMGOLD, 75% VDCO
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: Customers having difficulty accessing vanguard accountsca

Post by mathjak107 » Thu Dec 30, 2021 4:55 am

Numours issues .

First is I log in on line one day and it tells me I have things to do , like set up beneficiaries..
What ?? We have beneficiaries listed .

So I try to add them …nope cant add them

So i write them .

The went and deleted all beneficiaries off joint accounts and never notified anyone ..

Then they handed us a line of bull shit that we all would be better served with a trust and they just happen to have a trust dept which can set that up for a hearty charge ..

Or we can split the joint account in to two separate individual accounts and then add beneficiaries..

No thanks , I don’t need a trust and I am not bothering to start splitting accounts up …my fidelity rep couldn’t believe they did that to all the joint account holders so she called to confirm ..no where else is there an issue with beneficiaries on joint accounts in case of common death in an accident or terrorist act .

So I make arrangements to start moving my money out and I have a question .

Unlike fidelity where when the rep can’t answer the question they own the call and get someone on line or to call you back , vanguard passed me around like a hot potato.

The last number someone passed me to had a recording to hold for the next rep

Well for laughs I held even though I figured out what I had a question on .

One hour and 15 minutes later I hung up as they passed me right to a number no one answers .

Whatever vanguard gets into is what they promote and push .

First the grand pappy of do it yourself investing told us all we can beat the pros .

Then they get in to money mgmt and all of a sudden a study comes out , how having your money managed by a pro can get you 1-3% better because of investor behavior.

But hey you just sold us on how we already Can beat the pros and all we need is to buy your index funds .


Then they started promoting their managed funds so now their ads are telling us their managed funds beat indexing .


Whatever they get into has the story change.

It reminds me of how Home Depot markets. ..the A items are loss leaders so you think they are cheaper over all ..then all the items that go with those A items are marked up way higher ….

They get you on the low fees at vanguard then try to steer you to more costly products or in some cases force you like telling you that you need a trust and not just beneficiaries on a simple account..

I don’t see any way to cancel a mutual fund order on their site once it’s placed either
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: Customers having difficulty accessing vanguard accounts

Post by mathjak107 » Thu Dec 30, 2021 5:42 am

Found their reply to dropping all beneficiaries


Thank you for your email regarding Transfer on Death (TOD).

Vanguard has decided that, in most cases, a TOD plan offers minimal
benefits on joint accounts. Beneficiaries on joint accounts are used to
cover the rare possibility that all the joint account owners will die
simultaneously. Such provisions are beyond the scope of Vanguard's TOD
plan.

I have reviewed this with our management, specifically surrounding the
possibility of simultaneous death of joint owners. While the TOD plan could
allow for the transfer of ownership rights in the unlikely event of
simultaneous death, it may not do so in a tax-efficient manner and may
limit the heirs' options.

Other estate-planning tools, like wills or trusts, allow investors to
utilize strategies that the TOD plan does not have room for, and they could
increase the amounts that heirs actually receive. Additionally, relying on
TOD plans increases the possibility of heirs being responsible for final
expenses, debts and taxes without adequate resources left in the estate to
cover such costs.

As you may know, a Vanguard TOD plan overrides the terms of a client's
trust, will, or other estate planning documents. However, community
property laws outline rules for ownership rights, and these laws remain
intact. This makes it more likely for assets to be transferred to an
inappropriate party and for disputes among beneficiaries. Since our TOD
plan is a Pennsylvania contract, it is interpreted under Pennsylvania law.
The laws of your state of residence may include more favorable provisions.

If you want to ensure that your assets will transfer to listed
beneficiaries for a joint account, we encourage you to contact an estate
planning professional. The estate planning professional will be able to
advise you on what steps you can take to ensure that the assets in your
joint account are transferred to the appropriate beneficiaries.
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: Customers having difficulty accessing vanguard accounts

Post by mathjak107 » Thu Dec 30, 2021 5:44 am

For the record , I do use their etfs , but I won’t deal with them directly or keep money at vanguard
User avatar
dualstow
Executive Member
Executive Member
Posts: 14231
Joined: Wed Oct 27, 2010 10:18 am
Location: synagogue of Satan
Contact:

Re: Customers having difficulty accessing vanguard accounts

Post by dualstow » Thu Dec 30, 2021 6:09 am

I saw their outage message about a third party check processor over the past few days but have been able to trade just fine.
Sam Bankman-Fried sentenced to 25 years
Don
Executive Member
Executive Member
Posts: 286
Joined: Fri Apr 21, 2017 6:21 pm

Re: Customers having difficulty accessing vanguard accounts

Post by Don » Thu Dec 30, 2021 11:58 am

dualstow wrote:
Thu Dec 30, 2021 6:09 am
I saw their outage message about a third party check processor over the past few days but have been able to trade just fine.
So have I.
User avatar
vnatale
Executive Member
Executive Member
Posts: 9423
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

Re: Customers having difficulty accessing vanguard accounts

Post by vnatale » Thu Dec 30, 2021 2:15 pm

I will be going there today just to view my account transactions / balances to insure that all agrees with what I have in Quicken. Will not be doing any transactions.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
vnatale
Executive Member
Executive Member
Posts: 9423
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

Re: Customers having difficulty accessing vanguard accounts

Post by vnatale » Thu Dec 30, 2021 6:40 pm

A short while ago I was at the Vanguard site for about a 1/2 hour .... using it the way I normally use it.

No issues with all that I did.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
vnatale
Executive Member
Executive Member
Posts: 9423
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

Re: Customers having difficulty accessing vanguard accounts

Post by vnatale » Fri Dec 31, 2021 6:19 am

Vanguard's Ongoing Website Issues May Be Its 'Worst Tech Screw-up' Ever: Source

https://www.thinkadvisor.com/2021/12/29 ... _term_tadv

“This may go down as Vanguard’s worst tech screw-up on record, though it seems as though each successive tech problem at Vanguard seems to meet that standard,” Wiener said on Wednesday in an interview with ThinkAdvisor.


Vanguard's Website Problems Are Mostly Fixed. Will They Be Forgotten?

https://www.thinkadvisor.com/2021/12/30 ... 1131071433

“This one could potentially cause more reputational damage due to the length and severity,” said Craig Iskowitz, founder and CEO of Ezra Group, a consultancy focused on technology and wealth management. “However, the odds are that it is only affecting a small and vocal group out of their 30 million customers, so I think the long-term fallout will be minimal.”

Vanguard investors tend to be very loyal to a company that has built its reputation on serving them. But the asset manager now has strong competition from other firms who also charge extremely low fees but spend more on technology, such as Fidelity, according to Wiener.

Vanguard’s CEO, Tim Buckley, has said the company spends $1 billion on technology annually. Fidelity reports spending $2.5 billion.

Iskowitz notes that website issues have plagued multiple asset managers, sometimes at the same time, as happened in November 2020 when service issues hit Fidelity, Ameritrade, Vanguard, Merrill and Schwab.

“Unfortunately, this is part of the deal when everyone relies on a small group of cloud providers,” he said. “When one goes down, it impacts dozens or even hundreds of firms simultaneously.”
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: Customers having difficulty accessing vanguard accounts

Post by mathjak107 » Fri Dec 31, 2021 6:51 am

Can you even cancel a mutual fund order on the vanguard sorted ? I don’t remember seeing an option but I left vanguard years ago
johnnywitt
Senior Member
Senior Member
Posts: 147
Joined: Fri May 08, 2020 6:06 pm

Re: Customers having difficulty accessing vanguard accounts

Post by johnnywitt » Tue Jan 04, 2022 6:02 pm

mathjak107 wrote:
Thu Dec 30, 2021 5:44 am
For the record , I do use their etfs , but I won’t deal with them directly or keep money at vanguard
Yes, all that and the MF's don't let you buy a lot of ETF's that you might want to own. They are like the Big Brother of IRA Holders. I don't have any issues with Charles Schwab: they let me buy anything that I damn well please AND I can actually get a live person on the phone when the occasional need arises.

VG is a bunch of nasty tatted up HO's. ;D
murphy_p_t
Executive Member
Executive Member
Posts: 1675
Joined: Fri Jul 02, 2010 3:44 pm

Re: Customers having difficulty accessing vanguard accounts

Post by murphy_p_t » Tue Jan 04, 2022 8:03 pm

Lol.
Post Reply