Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Vanguard Flagship - downgraded to "Team of Advisers"
Old 08-04-2016, 02:33 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 5,615
Vanguard Flagship - downgraded to "Team of Advisers"

Not that we ever used the "personal representative," who in any event couldn't help us with our non-VG investments, which are the most troublesome for us due to tax issues - but it seems that Flagship is not quite Flagship any more:


"You'll soon interact with us differently

We want to make you aware of a change to how you'll interact with Flagship Services®. Within the next few weeks, you'll have direct access to a team of Flagship representatives rather than working exclusively with your assigned representative.

Your team of reps is ready to help you meet your needs
You'll still receive the same level of service you've come to expect from our reps—who are trained to handle the unique needs of high-net-worth investors like you.

If at any time you'd like to have an assigned representative again, please let us know.

In addition, there will be no changes to your other Flagship® benefits."
__________________

__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Amethyst is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-04-2016, 02:38 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Apr 2011
Posts: 1,438
How much do they charge for using either?
__________________

__________________
gerntz is offline   Reply With Quote
Old 08-04-2016, 02:45 PM   #3
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,341
How weird!

My "assigned representative" apparently got promoted or quit or something, because I was switched to another one just a few weeks ago. And now this. I should pay more attention to their e-mails, I suppose.

I have never contacted my "assigned representative" for anything, although she occasionally touched bases to let me know she was available if I wanted help. gerntz, I think they have always been free for Flagship members, although I haven't actually tried one to find out.
__________________
Always be yourself, express yourself, have faith in yourself; do not go out and look for a successful personality and duplicate it.

― B. Lee








W2R is offline   Reply With Quote
Old 08-04-2016, 03:07 PM   #4
Full time employment: Posting here.
 
Join Date: Apr 2014
Location: Houston
Posts: 633
Interesting. I haven't gotten that email yet. Have used my flagship rep several times in the past year and was quite happy with his help. He really was mainly a contact point to get me to a specialist who answered my questions.

Most services are free for flagship level. See link below for details.

https://investor.vanguard.com/invest...ts/at-a-glance


Sent from my iPhone using Early Retirement Forum
__________________
Whisper66 is offline   Reply With Quote
Old 08-04-2016, 03:28 PM   #5
Moderator
MBAustin's Avatar
 
Join Date: Jul 2010
Posts: 4,029
Also haven't been notified of this yet. I call our rep a couple of times a year for various things and he's always excellent to work with. He's been our rep for probably 10 years now. I sort of like seeing his name all the time when I log in, but in reality a team would work just as well for us.
__________________
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
----------------------------------
ER'd Oct. 2010 at 53. Life is good.
MBAustin is offline   Reply With Quote
Old 08-04-2016, 03:31 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Nov 2011
Posts: 2,255
Weak reps make the firm look bad, and good ones are tough to find. The few that are quality get bumped up to handle the largest accounts. Now the remaining clients can't get stuck with a weak rep, instead they'll receive "group average" service.
__________________
GrayHare is offline   Reply With Quote
Old 08-04-2016, 03:38 PM   #7
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Second City Land
Posts: 23,931
My Flagship rep wrote a week ago that she was taking a new position in Vanguard and I would be assigned a new rep, but no date was given. That's all I've heard so far.

When I need to call Vanguard I talk with the first rep available and have dealt with the assigned Flagship rep only once, on a matter that required multiple contacts over many weeks. A specific rep is not something we have a real need for.
__________________
MichaelB is offline   Reply With Quote
Old 08-04-2016, 03:47 PM   #8
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 16,309
It looks like in the OP's quote that if you want a particular rep assigned to you, all you have to do is ask. In the eight years since DH rolled his 401k to a Vanguard IRA, he has spoken to his Flagship rep exactly zero times (a rep did not handle the roll over). So we don't need an assigned rep, who was changed out three or four times, and I am sure will be able get any help we might need from the team.
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
Bestwifeever is offline   Reply With Quote
Old 08-04-2016, 04:16 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Apr 2013
Posts: 5,360
I'm not Flagship with VGI, maybe later. Sounds like this optional change fits very well into Vanguard's "Swiss Army" approach to client overflow and DR situations.

I wouldn't care if my dedicated Fidelity guy was unavailable and someone else filled in. Heck if I'm sick I'll see another doc at the same practice.
__________________
MRG is offline   Reply With Quote
Old 08-04-2016, 04:53 PM   #10
Recycles dryer sheets
 
Join Date: Jul 2014
Location: Undisclosed
Posts: 89
Haven't received this email. My rep changed in March/April when my rep went on maternity leave. I have only communicated via email with my assigned reps.
__________________
N02L84ER is offline   Reply With Quote
Old 08-04-2016, 04:57 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 5,615
Interesting observation. The rep assigned to us would have fit in the "weak" category. His descriptive blurb was heavy on his church activities, not necessarily something to inspire confidence in his skills in the "Mammon" area.

Quote:
Originally Posted by GrayHare View Post
Weak reps make the firm look bad, and good ones are tough to find. The few that are quality get bumped up to handle the largest accounts. Now the remaining clients can't get stuck with a weak rep, instead they'll receive "group average" service.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Amethyst is offline   Reply With Quote
Old 08-04-2016, 06:22 PM   #12
Thinks s/he gets paid by the post
 
Join Date: Nov 2011
Posts: 2,255
Years ago I was forced from a great rep to a poor one. Wow, did my impression of the firm change.
__________________
GrayHare is offline   Reply With Quote
Old 08-04-2016, 06:31 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: Following the nice weather
Posts: 6,245
I went through 4 or 5 assigned reps over the years without ever actually speaking to one of them. Whenever (rarely) I called in my rep was busy so I just went to the available pool. So it makes no difference to me at all.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers
DW and I - FIREd at 50 (7/06), living off assets
harley is offline   Reply With Quote
Old 08-04-2016, 06:35 PM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,080
When I finally got to this level I got a rep... he called me to talk about what I needed... well, nothing really... but he would call about once a year to make sure everything was OK...

A couple of years ago I got a new one... I do not remember him (had to look it up to make sure it was a him) calling me at all...


BUT, when I have needed any kind of info my rep was never available... talked to someone else who handled my minor request easily... so I really do not care if I have a 'team'.... heck, teams might be better service....
__________________
Texas Proud is offline   Reply With Quote
Old 08-04-2016, 07:33 PM   #15
Full time employment: Posting here.
 
Join Date: Jan 2013
Posts: 929
Don't have this problem at Fidelity...I can call and get an immediate response from staff and an in-person appointment with the assigned person if needed.
__________________
Another Reader is online now   Reply With Quote
Old 08-04-2016, 07:50 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2004
Posts: 11,600
I always thought the "personal rep" was a gimmick. A "team" will do just as well for us. It sounds like anyone that still wants a by-name person can still get one, but it also sounds like most of us really don't care. We just want somebody competent.
__________________
"Freedom begins when you tell Mrs. Grundy to go fly a kite." - R. Heinlein
samclem is online now   Reply With Quote
Old 08-04-2016, 07:57 PM   #17
Thinks s/he gets paid by the post
grasshopper's Avatar
 
Join Date: Oct 2010
Posts: 1,657
Rant on, To Vanguard, The notice that my settlement account changed is unacceptable. I received a generic email confirmation of your account profile update on August 02, 2016. It seems like I get one every so often and usually has no important information, just alerting me to a change. Except this time if I didn't transfer some money into a new account(Federal MM) I would be bouncing some ACH and bill pay payments. An account rep told me that this was a quiet transaction. Well I think that Vanguard should have shouted it out. My flagship rep really should have given me a courtesy call to advise me of this change. A 30+ year customer of Vanguard but I am losing faith in your customer service.

I never would have seen this if I had not been to the billpay page.
__________________
For me experiences are not good or bad, just different
grasshopper is offline   Reply With Quote
Old 08-04-2016, 08:15 PM   #18
Thinks s/he gets paid by the post
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 4,762
I've usually been fine with the pool answering whatever question I had. I've called my rep 4 times for more specific things:


1) To help transfer an IRA to VG. He was the go between with a specialist, and probably anyone could do it, but it felt like I was well taken care of and the transfer went smoothly.


2) To have him explain how things worked tax form wise on a Roth recharacterization. I'm pretty sure I actually called 2 years in a row with the same question, and admitted it, and he explained it well both times and said it was no problem.


3) To straighten out a cost basis issue when the wrong shares were used. He worked with the cost basis team to get it fixed, and said he'd follow up to see why it happened, but I never heard back. I mentioned it here in a thread.


4) To find out why there was a totally random (as far as I could tell) address for me in some correspondence. I'm not sure how I even got it; must've been on an inner page. Disconcerting, for sure, worse if someone was trying to get hold of my account since I never got a notice of address change. He said he'd look into that, but I never heard back. I think I started a thread for this as well.


I went through 3 or 4 reps, and all seemed competent, at least the ones I dealt with.


So I'm fine with the change, as long as someone takes ownership of any issues or questions I have and nothing gets dropped.
__________________
RunningBum is offline   Reply With Quote
Old 08-05-2016, 05:55 AM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,547
Quote:
Originally Posted by samclem View Post
I always thought the "personal rep" was a gimmick. A "team" will do just as well for us. It sounds like anyone that still wants a by-name person can still get one, but it also sounds like most of us really don't care. We just want somebody competent.
+1. My reps have been fine the few times I talked to them but I always switched over to the next available agent when the rep was busy and never could tell the difference. My guess is a team just means you get pushed to the head of the queue which is fine by me.
__________________

__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Reply

Tags
flagship, investments, taxes, vanguard


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Fidelity Private Client Gr vs Vanguard Flagship Lazyfabs FIRE and Money 31 04-01-2014 04:08 AM
Any good experiences dealing with Vanguard Flagship Services twolfy FIRE and Money 31 02-24-2013 01:54 PM
My Vanguard Flagship Services Rep Changed easysurfer FIRE and Money 36 11-23-2010 06:59 AM
Flagship Status at Vanguard Corporate ORphan FIRE and Money 11 09-28-2010 04:12 PM
Opinions of free consultation and financial plan offered by Vanguard Flagship NatureNut FIRE and Money 10 06-14-2008 10:20 PM

 

 
All times are GMT -6. The time now is 04:59 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.