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09-22-2011, 10:36 AM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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New! From Vanguard!
Vanguard sent me an e-mail in the last day or two pointing out that there were Great New Things on my personal page (IRA).
I went there just now.
Interesting. There is a place to click for Cost Basis. I clicked it for something simple--my Berkshire Hathaway (only made one purchase). ("OK" means a value was given and it was as expected.)
Quantity and Date Acquired = OK
Cost per share = "--"
Total Cost = "unknown"
ConocoPhillips:
Quantity = OK
Date Acquired = "Various"
Total Cost = OK
They know how much I bought and at what price. Why do I get "Unknown"?
As happy as I am with V, I have the persistent feeling that they do not pay their programmers enough.
__________________
I have outlived most of the people I don't like and I am working on the rest.
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09-22-2011, 10:37 AM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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Maybe it is still in beta?
__________________
I have outlived most of the people I don't like and I am working on the rest.
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09-22-2011, 10:40 AM
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#3
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gone traveling
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
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Quote:
Originally Posted by Ed_The_Gypsy
As happy as I am with V, I have the persistent feeling that they do not pay their programmers enough.
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Maybe it's one of the ways they keep their costs low ...
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09-22-2011, 11:07 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,132
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I'm always amazed at how much useful info Vanguard can place into web pages.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
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09-22-2011, 11:33 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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09-22-2011, 11:34 AM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by Ed_The_Gypsy
Vanguard sent me an e-mail in the last day or two pointing out that there were Great New Things on my personal page (IRA).
I went there just now.
Interesting. There is a place to click for Cost Basis. I clicked it for something simple--my Berkshire Hathaway (only made one purchase). ("OK" means a value was given and it was as expected.)
Quantity and Date Acquired = OK
Cost per share = "--"
Total Cost = "unknown"
ConocoPhillips:
Quantity = OK
Date Acquired = "Various"
Total Cost = OK
They know how much I bought and at what price. Why do I get "Unknown"?
As happy as I am with V, I have the persistent feeling that they do not pay their programmers enough.
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At 15-20bp, they can't afford to hire someone to input all that, maybe they want YOU to do it??
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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09-22-2011, 11:55 AM
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#7
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
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Quote:
Originally Posted by Ed_The_Gypsy
As happy as I am with V, I have the persistent feeling that they do not pay their programmers enough.
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Quote:
Originally Posted by rescueme
Maybe it's one of the ways they keep their costs low ...
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From Vanguard, you're getting exactly what you pay for.
I'm sure some of their customers are complaining that Vanguard is wasting "their" money on more website features...
__________________
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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09-22-2011, 12:06 PM
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#8
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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Made me look. Looks like you have to sell something first. I'm seeing this on the cost-basis page:
Quote:
Short-term and long-term gains/losses will be listed as "—" if the data is unavailable, if you have not sold shares of any taxable investment (for unrealized gains/losses only), or if you have not provided tax lot information for brokerage holdings.
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and also this, so OP's IRA likely is older than 7/11/11 (of course, why send him the message about the new tool if it's only for IRA's going forward):
Quote:
Cost basis information may not be available for all accounts or holdings. Vanguard doesn't maintain cost basis information for IRAs opened before July 11, 2011. If you're looking to compare the amount you've invested with what it's worth today, you may wish to view your performance. Learn more about cost basis {fyi, this is a link}
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__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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09-22-2011, 12:49 PM
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#9
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,474
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I like the fact that they didn't change most of the webpage. I got the same e-mail and went there, and had no trouble finding out my account balances broken down by fund as always.
Since I was only at my webpage for a minute or so I didn't notice the cost basis part or anything that was different. I can see why you found the lack of information puzzling. I'd assume that they are still working on it and that there might be something there later on (or not, as BestWifeEver pointed out above).
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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09-22-2011, 12:55 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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They sent my DW (though strangely not me) a notice saying they are improving the buying interface for mutual funds. You now input all details for the transaction on one page instead of 3-4 pages previously. And they now give same day trade executions for orders placed by 4 pm Eastern and funded by bank draft. Pretty slick.
And if this "minimum level of service" is what saving 10-80 bp results in, then I am definitely ok with that, since this saves me hundreds or thousands every year in unnecessary investment expenses.
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (8, 13, and 15).
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09-22-2011, 12:58 PM
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#11
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,474
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Quote:
Originally Posted by FUEGO
And if this "minimum level of service" is what saving 10-80 bp results in, then I am definitely ok with that, since this saves me hundreds or thousands every year in unnecessary investment expenses.
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The first time I read the above, I read it as "hundreds of thousands". I thought you were quite the big-time investor!
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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09-22-2011, 01:06 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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I wish! I guess there might be a hand full of board members that could save "hundreds of thousands" by investing with vanguard over some other high cost adviser or load mutual funds. 80 bp savings on $12.5 million portfolio = $100,000 cost savings. Let's just say I have significantly less than $12.5 million with Vanguard.
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (8, 13, and 15).
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09-22-2011, 01:59 PM
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#13
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Full time employment: Posting here.
Join Date: Mar 2008
Posts: 968
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My bet is that they have to get ready for the new reporting rules that kick in next year 2012 on reporting to the IRS shares sold.
If you bought the shares from them, they should have the info I would think. If it was rolled in, then probably not....
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09-22-2011, 02:20 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 1,653
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I didn't count on them for basis reporting before and I don't intend to start. I track it myself. It is my tax return, not theirs.
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09-22-2011, 07:34 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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Quote:
and also this, so OP's IRA likely is older than 7/11/11 (of course, why send him the message about the new tool if it's only for IRA's going forward):
Quote:
Cost basis information may not be available for all accounts or holdings. Vanguard doesn't maintain cost basis information for IRAs opened before July 11, 2011. If you're looking to compare the amount you've invested with what it's worth today, you may wish to view your performance. Learn more about cost basis {fyi, this is a link}
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That is the answer! It is a LOT older than 7/11/11.
Like W2R, I am happy with the content and that they did not change the format. Just puzzled about missing info.
__________________
I have outlived most of the people I don't like and I am working on the rest.
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09-23-2011, 05:23 AM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,686
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In-laws entered new level of management with USAA, who insisted that 5 or 6 stocks be included in the fold. Good idea I thought, so that summary data for all of their holdings will be easier to find. Sure enough, there is a brokerage account, they can buy and sell, etc.
A few weeks later USAA sent a form asking for detailed information on when bought, etc. I have no idea when Auntie left AT&T stock through inheritance.
So, this is not a Vanguard only challenge. If the company doesn't know the data for a brokerage account, they can't record it.
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09-23-2011, 12:23 PM
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#17
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
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Quote:
Originally Posted by target2019
I have no idea when Auntie left AT&T stock through inheritance.
So, this is not a Vanguard only challenge. If the company doesn't know the data for a brokerage account, they can't record it.
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If you know the dates of Auntie's death and the date that the shares were actually received by the beneficiary, then the brokerage can do the rest. Of course you could do it yourself for free and give them the data, too.
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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09-23-2011, 12:48 PM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
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Vanguard, like other custodians, is probably just doing this as part of the new compliance with cost basis reporting on tax forms and to the IRS.
There have been a whole bunch of new cost-basis reporting features added on the institutional side at Schwab.
Here's an article from FP about Schwab's program.
Schwab Prepares for New Cost-Basis Rules - Financial Planning
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way
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09-23-2011, 01:09 PM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Posts: 17,205
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Quote:
Originally Posted by Nords
If you know the dates of Auntie's death and the date that the shares were actually received by the beneficiary, then the brokerage can do the rest. Of course you could do it yourself for free and give them the data, too.
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Just as an FYI, it only matters the value on date of death... they get a step up in basis on that day (if there is a gain).... that basis follows the stock even if distributed much later...
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09-23-2011, 02:24 PM
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#20
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
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Quote:
Originally Posted by Texas Proud
Just as an FYI, it only matters the value on date of death... they get a step up in basis on that day (if there is a gain).... that basis follows the stock even if distributed much later...
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I haven't had to do this since 2002, but back then I thought there was a choice on which date was used.
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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