Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Better customer service: Vanguard or Fidelity?
Old 05-21-2019, 10:15 AM   #1
Recycles dryer sheets
 
Join Date: Nov 2017
Location: St. Petersburg
Posts: 70
Better customer service: Vanguard or Fidelity?

I need to move my 401k from Wells Fargo to either an IRA with Vanguard or Fidelity. Most of what I am moving is to bland vanilla money market fund, so fund choice is not an issue here. Tie breaker is custmer service. Any suggestions or does it really not matter, they both good? Thanks!
__________________

LXEX55 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 05-21-2019, 10:23 AM   #2
Recycles dryer sheets
 
Join Date: Mar 2012
Posts: 176
I have had an outstanding experience with Fidelity for many years now. The customer service reps are professionals. My impression is that they hire smart people and provide them with extensive training.
__________________

__________________
FIRE'd---4/27/2018 @ 54. DW--RE date 03/01/19.
tdv2 is offline   Reply With Quote
Old 05-21-2019, 10:36 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
MRG's Avatar
 
Join Date: Apr 2013
Posts: 8,265
Depends on how you define best. For years I received great service from the local KC branch. Now I'm in a remote area with no branches nearby. Vanguard wins hands down for remote support.
MRG is online now   Reply With Quote
Old 05-21-2019, 11:08 AM   #4
Thinks s/he gets paid by the post
SumDay's Avatar
 
Join Date: Aug 2012
Posts: 1,568
Vanguard gets my vote. When I first moved our 401(k)'s to Vanguard IRA's I made some frantic, really annoying calls with stupid newbie questions. They are great at hand holding, and when all else fails, they'll do it for you. I see some complain about their website, but I have become pretty adept at self-service.
__________________
FIRE Class of 2018 @ 61

Old men and women sit in the shade of trees they planted long ago
SumDay is offline   Reply With Quote
Old 05-21-2019, 11:10 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 11,739
Quote:
Originally Posted by MRG View Post
Depends on how you define best. For years I received great service from the local KC branch. Now I'm in a remote area with no branches nearby. Vanguard wins hands down for remote support.
Good advice. If you live near a Fido office, it is convenient to have a face to face.
__________________
You probably mean principal not principle. Judgment only has one "e".
travelover is online now   Reply With Quote
Old 05-21-2019, 12:24 PM   #6
Thinks s/he gets paid by the post
euro's Avatar
 
Join Date: Oct 2015
Posts: 1,270
From the info you are providing I'd say: "it doesn't matter much".

I have dealt with both firms extensively and in MY experience, I'd give Fidelity a small edge over VG in terms of online and phone customer service. Obviously, a large edge if you like face to face and have a branch nearby. Fidelity website is leaps and bounds better than VG but it doesn't sound like that will matter much to you. You really can't go WRONG.
euro is online now   Reply With Quote
Old 05-21-2019, 12:41 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Location: North
Posts: 2,365
Look at VG Flagship if you have 1MM+ Otherwise I love Bogle's principles and the idea that his employees are shareholders...a little extra incentive to provide better Service IMHO...doesn't mean the human you connect with is having a grand ole day and is ready for that though.
__________________
AA (Stock/Bond/Cash ): 96.5/0/3.5% MIX (Small/Mid/Large): 25/25/50% BLEND(US/Foreign): 100/0%, REIT (Real Estate Equity): ~50% of Assets

FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
kgtest is online now   Reply With Quote
Old 05-21-2019, 12:48 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Jan 2013
Posts: 2,163
Vanguard bungled a rollover and could not find the money for six weeks... Turns out the software did not allow the money to be "seen" during the process. No one knew this, and the reps insisted they had not received it.

Never had a high level of confidence in them after that. Majority of accounts are at Fido, although I still have some managed funds at T Rowe and a relatively small taxable account at Schwab. I do have money at Vanguard, can't beat their money market rates and the missing rollover that magically reappeared is mostly in Wellington.
Another Reader is online now   Reply With Quote
Old 05-21-2019, 12:57 PM   #9
Thinks s/he gets paid by the post
ER Eddie's Avatar
 
Join Date: Mar 2013
Posts: 1,239
I find Vanguard's website more customer friendly than Fidelity's, but the one time I called Vanguard on the phone, the rep sounded like he was only half paying attention, and the transaction I was requesting never went through. It was an attempted rollover, similar to what Another Reader mentioned above.
ER Eddie is online now   Reply With Quote
Old 05-21-2019, 02:24 PM   #10
Moderator Emeritus
braumeister's Avatar
 
Join Date: Feb 2010
Location: Flyover country
Posts: 13,552
Quote:
Originally Posted by euro View Post
From the info you are providing I'd say: "it doesn't matter much".

I have dealt with both firms extensively and in MY experience, I'd give Fidelity a small edge over VG in terms of online and phone customer service. Obviously, a large edge if you like face to face and have a branch nearby. Fidelity website is leaps and bounds better than VG but it doesn't sound like that will matter much to you. You really can't go WRONG.
Same opinion here. I have accounts at Fido, Schwab, and Vanguard. Of the three, I would rank Vanguard's service lowest, but still acceptable.
__________________
I thought growing old would take longer.
braumeister is offline   Reply With Quote
Old 05-21-2019, 02:49 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 6,341
Fidelity is best.
__________________
Duck bjorn.
Brat is online now   Reply With Quote
Old 05-21-2019, 03:17 PM   #12
Recycles dryer sheets
cbo111's Avatar
 
Join Date: May 2014
Posts: 461
I have a VG Voyager-Select account, which assigns me a specific advisor that I can contact when necessary. I recently converted funds from tIRA to Roth. This was the first time I have done this, and my advisor was very helpful with the execution, including his asking a bunch of questions regarding strategies for RMD's down the road. If I don't like his advise in the future, I can select another CFP from their list. So far there have been no issues working with VG in my 10 years with them.
cbo111 is offline   Reply With Quote
Old 05-21-2019, 03:19 PM   #13
Recycles dryer sheets
 
Join Date: Sep 2016
Location: Way up North
Posts: 243
I love Vanguard investment products and almost all of my equity investment is in Vanguard index ETF's.

I dumped Vanguard as a custodian about 5 years ago and would not go back. Fidelity and Schwab (my favorite) both beat Vanguard customer service and their CSRs exhibit some bit more competence IME. I have accounts at Fidelity (401K, Mega-backdoor Roth IRA, deferred comp and company pension) and at Schwab (solo401K, taxable and regular backdoor Roth). I am not a preferred client anywhere, I only have ~$750K at both Fidelity and Schwab. I have accounts a bit more complex than simple IRAs (solo401K and mega-backdoor Roth). I wouldn't trust regular retail Vanguard CSRs to not screw up those type accounts, but think they are probably fine for plain vanilla IRAs.

IMO there is no reason to accept less than the best in customer service, and that isn't Vanguard IME. Doesn't mean I don't have a soft spot for Vanguard products and Bogle philosophy, but I can get that with better service - and good lobby coffee - at Schwab and Fidelity.
__________________
Retiring in mid 2020 at age 61 from Evil Mega Big Oil Corp (EMBO corp)
Planning on living on:
Social Security +
Modest private pension +
Modest nest egg, 60/40 indexed +
My good looks and sparkling conversation
bada bing is offline   Reply With Quote
Old 05-21-2019, 03:46 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Jan 2013
Posts: 2,163
Quote:
Originally Posted by bada bing View Post
I love Vanguard investment products and almost all of my equity investment is in Vanguard index ETF's.

I dumped Vanguard as a custodian about 5 years ago and would not go back. Fidelity and Schwab (my favorite) both beat Vanguard customer service and their CSRs exhibit some bit more competence IME. I have accounts at Fidelity (401K, Mega-backdoor Roth IRA, deferred comp and company pension) and at Schwab (solo401K, taxable and regular backdoor Roth). I am not a preferred client anywhere, I only have ~$750K at both Fidelity and Schwab. I have accounts a bit more complex than simple IRAs (solo401K and mega-backdoor Roth). I wouldn't trust regular retail Vanguard CSRs to not screw up those type accounts, but think they are probably fine for plain vanilla IRAs.

IMO there is no reason to accept less than the best in customer service, and that isn't Vanguard IME. Doesn't mean I don't have a soft spot for Vanguard products and Bogle philosophy, but I can get that with better service - and good lobby coffee - at Schwab and Fidelity.
Damn, I'm going to have to try the coffee next time I'm in the office. It's been a couple of years since I have had to make a personal visit.

T Rowe Price experimented with offices about ten years ago. There was one up in Walnut Creek I think. I believe they closed those a few years ago.
Another Reader is online now   Reply With Quote
Old 05-21-2019, 03:50 PM   #15
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 4,603
Only have dealt with Fidelity. Big thumbs up for them.
No pressure selling/truly understand the DIY crowd/receive advice for free when needed.
__________________
TGIM
Dtail is online now   Reply With Quote
Old 05-21-2019, 03:51 PM   #16
Thinks s/he gets paid by the post
 
Join Date: Nov 2011
Posts: 3,308
Much of your experience will be colored by the rep to whom you happen to be assigned. I've had excellent reps and poor ones. If you are disappointed ask for a new rep.
GrayHare is offline   Reply With Quote
Old 05-21-2019, 04:03 PM   #17
Full time employment: Posting here.
davebarnes's Avatar
 
Join Date: Dec 2015
Location: Berkeley, Denver, CO, USA
Posts: 806
I moved from Vanguard because Fidelity has a local retail office.
I moved from Janus because wider selection, lower fees and local office. (I went with Janus in the first place because they were headquartered in Denver and had a storefront. Was not happy when they closed the storefront.)
Very happy with Fido. I think the website is very good and the retirement planner is also.

The junior member of my Fido team (the one who does all the handholding) is going to be promoted soon and he is in his 30s. Hopefully, he will be my "forever" rep.
__________________
Dave Barnes
Old (71.0) Fart Nerd
AA 73/24/3, WR=4% (living dangerously), 91.6% retired, still working 1/2ish hrs/day
davebarnes is offline   Reply With Quote
Old 05-21-2019, 04:19 PM   #18
Recycles dryer sheets
 
Join Date: Oct 2013
Location: Chicago
Posts: 79
Fidelity.

20+ Years of being a satisfied customer. The reason I picked Fidelity was that they were our 401K custodian in three companies I worked in. Rolling over to IRA was a breeze. Their virtual bank is awesome and their credit card sends big cash rewards.

No reason for me to try anything else.
free2020 is offline   Reply With Quote
Old 05-21-2019, 04:25 PM   #19
Recycles dryer sheets
 
Join Date: Jun 2011
Posts: 281
Fido closed my money market account when it fell below the minimum. After that I moved out my IRA. That was 25 years ago and I never went back. I don't want to try their service again.
pjm-7 is offline   Reply With Quote
Old 05-21-2019, 04:42 PM   #20
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: NE Ohio
Posts: 1,103
We've experienced poor service with Vanguard, great service with Fidelity and Schwab.
__________________

gwraigty is offline   Reply With Quote
Reply


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
Why vanguard's expenses are so cheap, lousy customer service/hidden fees Olav23 FIRE and Money 57 03-18-2007 06:20 AM
Vanguard Customer Service Story yakers Other topics 12 08-17-2006 02:10 PM
Fidelity's stolen laptop & customer service Nords Other topics 7 03-25-2006 01:53 PM
Bad Customer Service Rant? SteveL Other topics 11 09-03-2005 12:34 PM
Fidelity vs vanguard customer service Roger_R FIRE and Money 9 07-01-2004 07:21 PM

» Quick Links

 
All times are GMT -6. The time now is 11:58 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
×