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ario'sMiddletown, CT
Customer ServicePunctuality & Speed
Reviewed May 18, 2024
Their online website has poor self-help facilities… I can't SEARCH for a help topic. And once you place an order for mutual fund change, you can't cancel it on your own, you have to email them and hope they get to it on time. Very poor website design.
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LloydAnchorage, AK
Customer ServiceStaff
Reviewed May 17, 2024
I have called a total of four times (once in single day/ three times another day) and the reps were combative, interrupting, talk over you, refused to connect me to a supervisor, refused to assign call to a supervisor, and have a rep yell "we are not going there!" All my calls about Traditional 401K withdrawals. I reminded them I am the "customer" but I believe reps being hired are poorly trained and/or qualified. It is all very weird and unprofessional. Simple questions raise their tension. Not an issue before Covid. Guessing the quality of reps is poor.
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PopsPlymouth, WI
Reviewed May 13, 2024
Vanguard is a HORRIBLE, TERRIBLE and a VERY STRESSFUL brokerage company. Transfer of assets are VERY VERY VERY SLOW. After the 401K transferred to Vanguard there’s still 7 days hold that’s why I can’t invest more than I want.
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rickActon, MA
Staff
Reviewed April 19, 2024
Vanguard is horrible. They are useless. They do not allow buying of OTC stocks. Fidelity and Schwab allow OTC stocks and are great. I just started closing out my Vanguard account. Please do not open a Vanguard account. If you have one already close it out. Switch to Fidelity or Schwab. They are a million times better. Feel free to contact me at ** for more crap that Vanguard pulls. I could go on and on.
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AhnAtlanta, GA
Staff
Reviewed April 18, 2024
Last year I opened Vanguard to diversify my portfolio, besides having Swab. What a mistake! I recently did my first transaction of giving $1000 worth of share from it to my daughter's Bank of America savings account. BUT SHE NEVER RECIVED the money. Vanguard on boarding department and I have spoken with multiple BoA agents and indicated they never received the transaction. Vanguard told me multiple times all the accounts, DTC, electronic wiring were correct and now suddenly blaming on me and asking me to write a letter that it was my fault! I have contacted their fraud department, FINRA, and consumer financial protection Bureau. Any other places to contact...
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JohnCary, NC
Staff
Reviewed April 12, 2024
My mother passed and I was listed as a beneficiary. They make you create an account with them in order to receive funds, this includes provided employer related data that has zero to do with receiving any funds from them. They make it difficult to receive money as a beneficiary. I would never recommend them because of how complicated they make it for beneficiaries.
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JustinLa Mesa, CA
Customer Service
Reviewed March 1, 2024
After the last few phone experiences over the past two years, I decided to do some checking to see if it was just me, or if Vanguard changed how they deal with their customers. I've been investing with them for over 31 years, and in my view, there's been a huge decline. And since there's no email address for them to voice my complaints, I thought I'd make them public. I used an AI platform (Perplexity) and asked if their customer reviews have in fact declined, and they have. See link. I wonder how John Bogle would feel about this? AI Result: **.
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SeanBellevue, WA
Customer ServiceInstallation & SetupStaffProcess
Reviewed Feb. 23, 2024
If you fortunate enough to have some measure of inheritance but unfortunate enough to have those before you choose Vanguard, here is what will happen. 1) When they are notified of passing they will lock the account so you do not know what is available. You will then be forced to setup a Vanguard Inherited IRA Brokerage Account. This is lengthy and buggy process. While other institutions will quickly cash out your inheritance, Vanguard will initially attempt to setup your mandatory Inherited IRA for immediate re-investment. You will have to spend ~40 minutes with a Vanguard representative to get the account setup in a way that the money will not to immediately back to Vanguard.
2) Once you set things up you have to wait 5-7 days for the funds to transfer. They won't so you'll have to call in. They will tell you that there was a problem with the setup and have you go through it again. When you ask for email/text updates for account status they will tell you that is not available. 3) The second setup will fail. So, another 5-7 days, and wiser you will call back. You will have to work with a rep to submit the forms a 3rd time. (I spent over 90 minutes on this round in order to get myself and the other beneficiary completely registered and confirmed in the system.) 4) Your 3rd attempt will fail. By now you realize Vanguard is just trying to make whatever $ it can on your inheritance before it has to shift to holding someone else's funds. You'll call back a 4th time. You will end up on hold for at least 15 minutes while the rep "reviews" your account. The rep will then hang up. #notshocked
5) When you call back the 5th time you will learn that there is some other form that was not filled out. Vanguard could have contacted you that the form was missing after the first call. Instead, they sat on it after repeated rounds until they needed a new reason to delay the funds transfer. 6) Once you complete the suddenly missing form, you will want confirmation that the transfer is taking place. Vanguard will be unable to provide it. You can try to escalate but all of the managers will conveniently be whatever coast you are not calling from. The rep will promise someone will review your case and call back in 24-48 hours.
After a month and almost 4 hours on the phone, Vanguard will still have locked up your inheritance with no payout in site. There will be no way to see the status of your transfer on the account you were forced to setup. If there is a problem, they will not contact you. That is against their policy as it would short-circuit the artificial delays they put on inheritance payouts. If you are considering setting something up for beneficiaries. Do yourself a favor and use anyone/thing/planet than Vanguard. P.S. I wrote 90% of this review while on hold with Vanguard.
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JeanWest Chester, PA
Customer ServiceStaff
Reviewed Jan. 19, 2024
I have been a Vanguard client for at least 3 decades. Sadly, after Mr. Bogle left, the company has gone downhill. In the past, advisors were accessible, well trained, and made it clear that their first priority was to support the client. Yet, now the general attitude seems to be: with millions of investors, we are too big to bother with you! There are some exceptions, of course. I was in the end satisfied today having finally gotten through to someone in the investment department who stopped blaming me. It took all morning to decode a message found on my home page and the person at the Helpdesk seemed ill-equipped to deal with basic matters, yet held back in transferring my call.
The next representative on the investment team simply blamed me and held to what he believed to be rigid Vanguard requirements. I called back and, finally found someone who listened to my concerns. He may have solved a problem by suggesting that a fee could be refunded. I say "may" because communication is sometimes so poor, that actions benefitting the client are often delayed or not carried out! I do like Vanguard's mutual funds and decided that it is better not to distribute them into my other accounts. If one can forego any need to communicate with Vanguard or make changes in the account, it is possible to be satisfied with their low fee account. Otherwise, you can easily land in a mire of uncertainty, confusion, and costly delays. It is sometimes difficult to believe you are interacting with a financial institution. I have had better experiences in poorly run discount stores.
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JaviOzone Park, NY
Customer ServiceStaff
Reviewed Jan. 3, 2024
It's hard to get to a real life person. When you do, they don’t know what they are doing. You spend hours on hold each time you call. Sometimes you will have your call drop after long times of wait. They profit from your money and outsource jobs overseas. Red flags upon red flags. I don’t know how they are still operating.
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