Question on Flagship services

[fh2000]

The combined accounts for my and DW's Vanguard accounts exceed 1 M, but neither is >1 M individually. I guess they do not qualify a family total for Flagship status, right?

[MissMolly]

Quote:

Originally Posted by fh2000 The combined accounts for my and DW's Vanguard accounts exceed 1 M, but neither is >1 M individually. I guess they do not qualify a family total for Flagship status, right?

Per Vanguard website:
Eligibility is based on total household assets held at Vanguard, with a minimum $1 million to qualify for Vanguard Flagship Services®. We determine eligibility by aggregating assets of all qualifying accounts held by you and your immediate family members who reside at the same address.

[braumeister]

Quote:

Originally Posted by Scrapr I will probably take a look at Schwab & Fidelity. I've got some balls in the air that I will let settle before doing anything

I think you'll be glad if you do. I got so frustrated with the big V that I took my marbles and left several years ago. Most everything is at Fidelity, some at Schwab, only one small account at VG to hold some VWENX.

I couldn't be happier with both FIDO and Chuck.

[Another Reader]

Quote:

Originally Posted by braumeister I think you'll be glad if you do. I got so frustrated with the big V that I took my marbles and left several years ago. Most everything is at Fidelity, some at Schwab, only one small account at VG to hold some VWENX. I couldn't be happier with both FIDO and Chuck.

I'm in the exact same position. Have some legacy Vanguard funds and ETF's in a taxable account and some Wellington in a retirement account. I also have some legacy accounts at T Rowe Price. ALL of them are more customer friendly, have fewer archaic processes, and have much better websites than Vanguard.

[JoeWras]

Quote:

Originally Posted by RobbieB If it takes a "couple of calls" to even get through it ain't worth nothin'

Agree, but I seriously don't get this!

I recently just called their normal line for what I thought was a simple question. The front line person saw I was flagship, and immediately put me through to a different person who was a flagship rep. I didn't ask for that. No "couple of calls."

Second, I've used their "make an appointment" feature on the web and it always has been reliable with my rep (or now pool, I suppose) calling back. If you put some details in the question, they come back prepared. I had a couple of questions about mega-backdoor and they were ready with answers.

[racy]

Flagship clients have access to Portfolio Analysis as a free service. It'll look at your asset allocation, do a stock analysis, a bond analysis and more on any or all of the accounts you have. Find it: My Accounts > Portfolio Watch.

[Scrapr]

Quote:

Originally Posted by braumeister I think you'll be glad if you do. I got so frustrated with the big V that I took my marbles and left several years ago. Most everything is at Fidelity, some at Schwab, only one small account at VG to hold some VWENX. I couldn't be happier with both FIDO and Chuck.

I think my expectations were much higher. I expected the skies to open streaming sunshine, greeters at the gate with champagne and little crackers with cheese spread. Not velveeta either!

I'm going to have to think on this. PAS was going to be my backup for Mrs Scrapr. But the tilt towards "selling" PAS is a real turn off for me. I'm in no hurry right now as I am exploring sale of our company. And a couple family are not doing well

Does Fido or Chuckie have bonus for moving?

[VanWinkle]

I have looked at Vanguard, Fido, and Charles Schwab. There is no comparison in the # of low cost funds both active and passive. Vanguard is hands down the leader. All the frill and hand holding does not add to the bottom line. Low cost funds with proven returns is worth much more to me. If you want answers to complicated trust and tax matters, get a CPA or attorney to handle those items.

I for one will not be Vanguard bashing while sitting on a large portfolio that their funds helped me accumulate.

Just my 2 cents worth,

Dan

[Happyras]

Quote:

Originally Posted by VanWinkle I have looked at Vanguard, Fido, and Charles Schwab. There is no comparison in the # of low cost funds both active and passive. Vanguard is hands down the leader. All the frill and hand holding does not add to the bottom line. Low cost funds with proven returns is worth much more to me. If you want answers to complicated trust and tax matters, get a CPA or attorney to handle those items. I for one will not be Vanguard bashing while sitting on a large portfolio that their funds helped me accumulate. Just my 2 cents worth, Dan

+1
We had Chuck, and still have Fido, but the majority is now at VG. We have been flagship, but after a few changes we still have not found the level of services/web site we get at Fido. But to Van Winkles point, the funds you have access to, including top closed funds, is keeping us there. I did my annual allowable move $$ to some closed funds last week, and converted to Admiral shares the next day.

I lost faith in VG reps understanding when I used the term sequence of return risk, and they had no clue. My bond questions get thrown to the bond desk, so no real direct help there. Their non-PAS pitch is always a 3 or 4 fund index approach unless you pay the .3%, it seems they are not well versed on their own fund options. Certainly no help with non-VG investments. However, they at least stop there and do not try to sell you third party schemes.

I walked a majority of $ from Fido when my free adviser tried to pair me with a third party manager who wanted to "help" me invest in private mortgage backed securities to "lower" my market correlation (while paying them a hefty %).

Chuck tried to sell us similar third party approaches, including a pricey bond manager scheme which claimed they could leverage the yield curve selling at the optimal spread. They all want their fair share of our $$$ I guess.

Point is VG is not trying to sell you so much, and .3% for hand holding is low for those that need it.

[braumeister]

Quote:

Originally Posted by Scrapr Does Fido or Chuckie have bonus for moving?

Sometimes they do, and it can be substantial.
Right now I don't think there is a bonus offer beyond some free trades, but here are some they offered last year:
https://www.creditdonkey.com/promotions/fidelity/

[MRG]

I gotta tell you that my long term affair with Fidelity is quickly ending.

I called almost a month ago requesting a new(4th in a year) Privite Client rep. The branch manager was supposed to call me to discuss my desire for someone who didn't want to sell me annuities or third-party bond managers.

They were also supposed to have the third parties stop contacting me. That didn't happen, so I wrote them individually and explained I had zero interests in their services and apologized for Fidelity's failure to communicate.

I suppose it's worth one more call to Fidelity before I call Schwab.

We have a third of our assets at Vanguard, I'm in the minority cause I think they give great customer service. Frankly as good or better than Fidelity.

[MRG]

Quote:

Originally Posted by Happyras I walked a majority of $ from Fido when my free adviser tried to pair me with a third party manager who wanted to "help" me invest in private mortgage backed securities to "lower" my market correlation (while paying them a hefty %). Chuck tried to sell us similar third party approaches, including a pricey bond manager scheme which claimed they could leverage the yield curve selling at the optimal spread. They all want their fair share of our $$$ I guess.

Huh? Is this recent? I cross posted without seeing your post about the same issue.

One of the third party bond managers wrote back to say he would work with Schwab on the same basis.

[VanWinkle]

Quote:

Originally Posted by MRG I gotta tell you that my long term affair with Fidelity is quickly ending. I called almost a month ago requesting a new(4th in a year) Privite Client rep. The branch manager was supposed to call me to discuss my desire for someone who didn't want to sell me annuities or third-party bond managers. They were also supposed to have the third parties stop contacting me. That didn't happen, so I wrote them individually and explained I had zero interests in their services and apologized for Fidelity's failure to communicate. I suppose it's worth one more call to Fidelity before I call Schwab. We have a third of our assets at Vanguard, I'm in the minority cause I think they give great customer service. Frankly as good or better than Fidelity.

I don't think you are in the minority!!!

[PatrickA5]

I've had accounts at all three (VG, FIDO and Schwab).

My FIDO guy never tried a hard sell, but was kind of annoying. I finally had to tell him never to call back. My Schwab guy (in the local office) tried to sell me on some "house brand" group of funds that "would beat anything Fidelity or VG offered. After reviewing the brochure (and fees), I declined.

Over the last 18 months, we've moved everything over to VG. As others have said, customer service is a hit or miss - even with a dedicated Flagship rep, but for the most part we're very pleased overall. My Lifestrategy approach is super simple and the website works fine for what we use it for. I will consider PAS down the road for my DW, and maybe even their cheap Trust services.

[Texas Proud]

Yes, Flagship does not have a specific person 'in charge' of your account.... but there is a special number to call that are dedicated to Flagship clients..

I found no value in my advisor... I think I had one 12 months and another 18 months... cannot remember if I had a 3rd or for how long...

One of the things I did like which they took away was the free tax program.... wish they still had that...

[JoeWras]

Quote:

Originally Posted by Texas Proud One of the things I did like which they took away was the free tax program.... wish they still had that...

Like Robbie would say: "Just blow the dough" It isn't that much. But, yeah, a little perk gone.

[fritz]

Quote:

Originally Posted by VanWinkle I have looked at Vanguard, Fido, and Charles Schwab. There is no comparison in the # of low cost funds both active and passive. Vanguard is hands down the leader. All the frill and hand holding does not add to the bottom line. Low cost funds with proven returns is worth much more to me. If you want answers to complicated trust and tax matters, get a CPA or attorney to handle those items. I for one will not be Vanguard bashing while sitting on a large portfolio that their funds helped me accumulate. Just my 2 cents worth, Dan

My feelings exactly.

Don't recall how many Flagship Reps we've had over the years (probably an age related thing, but I'm only 66). I've talked to a couple of them over the years. Once was when I responded to a Flagship survey where I said I found their make an appointment to talk to my Flagship Rep annoying when I wanted to ask a question now. Ended up with an 800 number that went directly to the Flagship group. Back then the phone number on my account went directly to my assigned Flagship Rep, who was never available for the few times I ever tried it - got voicemail, so I'd hit 0 and get to the Flagship department.

After the last Flagship Rep, I received notice that I would no longer have an assigned Rep, and was given the new 800 number to the Flagship group (also listed on the top of my account after signing in now). I am very pleased with this scenario. I've called maybe 1-3 times/year, looking for information I've not found available online. They've been very good with prompt answers for the information I was looking for on their funds.

Since we retired at 58/57, I've simplified our investments so that when I'm no longer able or around to manage them - it will be easy for us/DW to leave pretty much on autopilot, unless the funds change course. I don't see that happening but you never know. I do trust VG to guide DW when I'm gone or drooling on my bib.

I also looked around when first starting to invest (and over the years) and a lot of things have changed - especially with the other guys. I recall when some offered very similar load and no-load funds, and it appeared the very similar load funds always did better back then. VG's funds offered only no-loads and at very low expenses (still do).

[Texas Proud]

Quote:

Originally Posted by VanWinkle I have looked at Vanguard, Fido, and Charles Schwab. There is no comparison in the # of low cost funds both active and passive. Vanguard is hands down the leader. All the frill and hand holding does not add to the bottom line. Low cost funds with proven returns is worth much more to me. If you want answers to complicated trust and tax matters, get a CPA or attorney to handle those items. I for one will not be Vanguard bashing while sitting on a large portfolio that their funds helped me accumulate. Just my 2 cents worth, Dan

OH... and BTW, Vanguard also forced them to lower their costs to be more competitive..... so Fido and Schwab would not be as low cost to the clients without Vanguard... so if you are there you still need to thank Vanguard for putting more money in your pocket....

[grasshopper]

You all made me look,I still have my Flagship rep, same guy for at least 5 years maybe more. And I have coffee mugs galore. The last time we spoke,I was trying to get ComputerShare to send my cost basis from 20 years ago to Vanguard. Never got the basis so I spent half an hour in Quicken to get them myself. Otherwise I can do all my transactions online. I use to get a call once a year, no more.

[bada bing]

Quote:

Originally Posted by Texas Proud OH... and BTW, Vanguard also forced them to lower their costs to be more competitive..... so Fido and Schwab would not be as low cost to the clients without Vanguard... so if you are there you still need to thank Vanguard for putting more money in your pocket....

And if you are at Vanguard, you need to thank Chuck and Fidelity for pressuring
Vanguard's mediocre customer support and archaic website to improve.

I don't have a fanboi attitude about any of them. All of them have drawbacks.
I get much better customer service from both Schwab and Fidelity. They don't
try and sell me anything, but I suspect I put off a vibe that I'm not interested in
"sold" products. I left Vanguard as an account custodian about 4 years ago and
have not the slightest regret. I still use Vanguard ETFs for about 1/2 my investments.
I don't really think it is Vanguard bashing to note the widely reported deficits
in their customer service - anymore than it is Schwab and Fidelity bashing to
note they may try and sell you something. Part of the territory with dealing
with imperfect account custodians.

If you know what you want and aren't liable to light sales pressure, you'll be happier
at a for profit discount brokerage over Vanguard. If you need some assistance,
I think you are vulnerable to substandard advice from Vanguard and a tendency for
conflict of interest sales at a for profit outfit. Your best bet is to seek a
fiduciary separate from your custodian.