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Old 08-29-2017, 04:03 PM   #161
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remember nothing is ever a problem until it is a problem and lately it has been one problem after another with vanguard . been with fidelity 30 years and so far no problems .


Oh I had problems with Fidelity , I haven't had any with Vanguard but I don't ask for much, and I am a Voyager member so I don't go through normal call channel.
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Old 08-29-2017, 04:24 PM   #162
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we are voyager too , a lot of good it did .we got passed around like a hot potato .

unlike our fidelity rep who owns every problem , i never make a 2nd call for anything , no one at vanguard took the ball and ran with it . they just kept passing us from one person to another until finally some woman said to call her back in an hour on monday .

i called back , she did not get on the phone but left a number with someone in her department to give me when i call and told me to call it with our jpm rep ..

that is the number we called today and held on and no one ever picked up . just a recording to hold for the next available person . who evidently does not exist lol

that is in contrast to the time at fidelity our bank was going to send the funds from a mature cd to fidelity .

the bank screwed up and sent it a few days to early and when fidelity got it they noticed they hit it with a penalty .

they called me and told me and said don't bother calling them we will call them and tell them and ride herd on it until they send us the balance and they did !

when fidelity caught my wifes account info for sale on the dark web they closed everything up , contacted us and took care of every detail from checks , new accounts and new debit cards as well as re-establishing our bank and direct deposits without so much as a follow up call from us .

that is good customer service .
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Old 08-29-2017, 05:17 PM   #163
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Some day maybe we can talk about Financial Programs (now Invesco), Putnam and Janus.

I had transferred my Invesco to VG. Years later, I get a class action notice against Invesco. Like most of us do, I almost threw it in the trash. Good thing I didn't, it was the only real class action that paid. To me, that said whatever Invesco did (I didn't read the fine details), it must have been pretty bad.

Let's just say I'm happy with VG. Oh, and also Fidelity. I have a pretty good position there, primarily through our 401ks.
Haha. Google those names and Spitzer. They were all found(or pleaded) guilty in '03-'04 over market timing.

There's a lot of "good ole boy" in the industry.

If you work in the industry; You'll see a lot of people re-inventing themselves at different fund companies. Sometimes they bring good ideas, sometimes they bring nonsense from other places. It's the second most inbred industry on the planet.
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Old 08-30-2017, 08:14 AM   #164
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I'm getting the feeling some of the posters work for either Fidelity or JPM or some other financial company trying to badmouth Vanguard. We've been with Vanguard for over 30 years. I do not recognize a single one of the complaints on this thread. The customer service is knowledgable, very quick to answer our calls and they return calls quickly. We've had hour long discussions on 3 way lines. Beneficiary questions, Trust questions, how to maneuver the website questions, the list is pretty long over the years. We don't have one complaint. We're always treated with respect as our decisions.

Our statements, tax information, fund information etc are always available. We had concerns about security, they walked us through an extremely secure way to work with them on the phone and online. If we ask for any statement or letter in writing, we get it within days.
You have to understand something. The individual who started this thread also posts ad nauseam over on the city data investment/retirement forums and He is always right and You are always wrong. He is always quick to respond if you disagree with him. Some people are just like that. Best to ignore him. Vanguard is now and has been one of the best investment firms for the little guy/girl. Some people see the need to trash an investment firm because of one specific problem they have had. Ok...let them. I will put my trust in the firm Jack Bogle started versus Abigail Johnson. It is what it is. Ohhhh....wait for the response ....in 3...2...1.....
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Old 08-30-2017, 08:22 AM   #165
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3-2-1


you do know there is the ignore button on the other forum if you care not to read my posts . no one forces you to read anything .
it is what it is and it des not change the fact i had a pretty crappy experience dealing with vanguard on multiple issues as well as policies at vanguard that should be brought to light as it can effect quite a few of us
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Old 08-30-2017, 08:26 AM   #166
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Good for you that you are fully satisfied with VG. There is no reason you should consider moving your money then. What you see in this thread are individual examples of customers whose experience has been different from yours. I myself was with Vanguard for many, many years and their customer support was never their strongest suit. Acceptable, by and large, but not top notch. I was willing to cut them a good bit of slack, because they always made up for it by running the tightest ship and lowest fees. HOWEVER, the fee advantages have largely been wiped out, compared with Fidelity, Schwab, etc) now for a few years, and so it is harder to justify inferior customer service. Therefore, people leave when they have a bad experience (I did earlier this year). This doesn't mean Vanguard is the crappiest company out there - it is definitely NOT. It is still a very solid choice - just not the top choice any longer.
This is misleading. Only recently Fidelity and Schwab undercut Vanguard's Expense ratios on a few index funds by 0.5 to 1.0 basis points. Some savings! They did this because of so much "new" money coming into Vanguard and losing investment money to Vanguard.

However, when you compare ALL funds , Vanguard still has lower ER on most if not all of their actively managed, balanced , and sector funds. Fidelity's website only compares 17 index funds. Vanguard currently offers over 100 mutual funds and Fidelity has even more (at higher ER's).

Fidelity (and Schwab) got cute. They lowered their ER by 0.5 - 1.0 basis points on a few select index funds and then proclaimed: LOOK WE HAVE LOWER FEES THAN VANGUARD. Slick marketing.
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Old 08-30-2017, 08:28 AM   #167
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3-2-1


you do know there is the ignore button on the other forum if you care not to read my posts . no one forces you to read anything .
it is what it is and it des not change the fact i had a pretty crappy experience dealing with vanguard on multiple issues as well as policies at vanguard that should be brought to light as it can effect quite a few of us

Lol! That only took a whole 8 minutes! No.......you are too entertaining to be put on ignore!
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Old 08-30-2017, 08:31 AM   #168
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Old 08-30-2017, 08:37 AM   #169
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3-2-1


you do know there is the ignore button on the other forum if you care not to read my posts . no one forces you to read anything .
it is what it is and it des not change the fact i had a pretty crappy experience dealing with vanguard on multiple issues as well as policies at vanguard that should be brought to light as it can effect quite a few of us
I have no problem with you not liking Vanguard.... there is an issue with the way they do business that you do not like and you are moving.... that is the way our system is supposed to work...


Now, I will fault you on waiting over 1 hour on the phone... unless they had a recording telling you that it was an hour wait I would have called back or called some other number.... I have never waited more than a couple of minutes to get someone on the phone...


Since I do not have your problem (have zero joint accounts) I like Vanguard for the low fees etc. that they provide... and when I had to move money from Fidelity to Vanguard they were on the phone with me talking to Fidelity about what needed to be done... BTW, Fidelity would not transfer the money directly to them!!! They insisted they send me a check and I had to forward it to Vanguard...

I am sure I have had a problem with them before, but I cannot remember what it was....
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Old 08-30-2017, 08:47 AM   #170
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we had a lot of account paper work to do while waiting so we waited with them on speaker phone . in the beginning we called back a few times before waiting it out . had we had nothing to do we would have hung up quite a while prior and went home ..

no checks can be used in this case because it is a securities acat transfer .
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Old 08-30-2017, 10:22 AM   #171
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3-2-1


you do know there is the ignore button on the other forum if you care not to read my posts . no one forces you to read anything .
it is what it is and it des not change the fact i had a pretty crappy experience dealing with vanguard on multiple issues as well as policies at vanguard that should be brought to light as it can effect quite a few of us
Yes, we heard you the first 37 times in this thread.
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Old 08-30-2017, 10:44 AM   #172
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the continuing saga :
so vanguard compiles statements quarterly . the problem is the new upgraded brokerage account is not on a statement yet .

jpm said they need the statements and not a screen shot but we can't get a statement until october .

so we were advised to call the acat dept at vanguard to see if we can get a letterhead showing all the new account info .

well vanguard had us on hold for over 1 hour and 10 minutes . we tried on 2 phones to get someone to answer. we just got a recording that says thank you for holding , all representatives are busy .

are they kidding with this service , it is unacceptable . we hung up 1 hour and 16 minutes later .

chase /jpm is trying to submit a work around by using the old statement and the letterhead that shows the transfer to the upgraded account and new number .

not sure if compliance will let it go through or not . other wise i will have to wait until october to move the account .

no one answering a phone in over an hour is pathetic customer service . if i was transferring money in and calling the acat dept i would have said forget it .
In this scenario I think JPM is being unreasonable too. All they should need is the firm and the account number to do an ACAT transfer.

Like others, I have never had to wait more than 10 minutes to get a hold of someone at Vanguard. Especially on the Voyager line, and I believe you said you are a Voyager client with them (at least for now, anyway).
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Old 08-30-2017, 10:55 AM   #173
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sorry , but the statement being needed is a sec rule not jpm .

it is right here in the sec rules on their website .




https://www.sec.gov/reportspubs/inve...ctxferhtm.html


---------------------------------------------------------------------------------------------------------------------------------------------------------------------
right from securities & exchange commission website under how to avoid delays of acat transfers ..


Review the Form Carefully

"As you start filling in the transfer form, review the account statement from your old firm where your account is held. All firms require you to attach a copy of your most recent account statement to the transfer form."
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Old 08-30-2017, 10:57 AM   #174
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In this scenario I think JPM is being unreasonable too. All they should need is the firm and the account number to do an ACAT transfer.

Like others, I have never had to wait more than 10 minutes to get a hold of someone at Vanguard. Especially on the Voyager line, and I believe you said you are a Voyager client with them (at least for now, anyway).


it is a separate number in this case from those who field voyager calls in general customer service . they farmed us out to this other number
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Old 08-30-2017, 11:01 AM   #175
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I agree with you that this would be ridiculous. However, I think the person who told you this was mistaken or there was a miscommunication between the two of you.

My parents had a joint account with Vanguard and had beneficiaries on that account for decades. I am not sure why your experience was different. They do have two kinds of accounts - the "old" mutual fund kind and the "new" brokerage kind; perhaps that was it.
nope , it was not a person who was mistaken , it is their policy since 2014 .

others doubted it and contacted vanguard themselves . if you look in the previous posts there is the reply posted and reasoning vanguard gave . our beneficiaries were removed .
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Old 08-30-2017, 11:11 AM   #176
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sorry , but the statement being needed is a sec rule not jpm .

it is right here in the sec rules on their website .




https://www.sec.gov/reportspubs/inve...ctxferhtm.html


---------------------------------------------------------------------------------------------------------------------------------------------------------------------
right from securities & exchange commission website under how to avoid delays of acat transfers ..


Review the Form Carefully

As you start filling in the transfer form, review the account statement from your old firm where your account is held. All firms require you to attach a copy of your most recent account statement to the transfer form.
The link that you posted leads me to "Oops! We can't find this file".

The instructions that you posted require "a copy of your most recent account statement". So fill out the form and attach the most recent account statement... if you get statements only electronically then print out the most recent one available to you on the Vanguard website... if you get paper statements then give them the most recent one. If March 31 is the most recent statement available, so be it.... include a note explaining that it is the most recent account statement. If JPM is insisting on somethig that does not exist, then shame on them.

Seems to me that you like to complain about Vanguard more than you like solving the problem.
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Old 08-30-2017, 11:24 AM   #177
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we think we solved the issue on our own but jpm's compliance dept has to get the okay because the sec is quite specific about statements being needed . we have the latest statement but it lacks showing the new brokerage account number . the more recent statements will be compiled end of sept , early october that show the transfer to the new vanguard brokerage account which is a new number . the older statements on file only show the old mutual fund account .

so . jpm is trying to get the sec to okay the older statement showing the mutual fund account with a vanguard letterhead confirmation showing the old account number has been transferred to a new brokerage account number which of course is the account being moved ..

jpm said they know they would be okay with an original letter from vanguard stating the new account number and holdings but we failed to get someone in their acats dept to answer the phone so we could talk to someone about getting it . it is something customer service won't or can't do so they gave us another number and dept to try . key word is try , they were not even sure themselves yet they were sending us off . ..

worse come to worse i will wait until october for the new statement . but that has nothing to with the crappy customer service i experienced through this and how we were handled .

i certainly understand the issue is my doing because of the account change . i get that .

but that has nothing to do with the way vanguard passed us around to others , didn't try to help us , and of course has customers hold on phone lines they don't even answer and give them messages to continue holding .

what i would expect them to do is have the voyager rep run with the ball and try to get the info or request filled from whomever and get back to me with aye or nay .

like i say , no matter what the issue is at fidelity , i never have to make more than 1 call . no matter who or what is involved the rep sees it through from start to finish .

here is the sec link , all brokerages require a statement attached is under " review the form carefully ".
https://www.sec.gov/reportspubs/inve...ctxferhtm.html
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Old 08-30-2017, 11:43 AM   #178
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One educated guess as to what happens when an account goes unclaimed because the beneficiary never claims it. States have "escheat" laws which require certain institutions (banks, insurance companies and likely brokerages as well) to turn over unclaimed funds to the state after a certain number of years. The state, in turn, holds them and keeps a database. (See missingmoney.com) If no one claims the funds from the state, I believe the state is allowed to keep them.

My late ex-husband has 3 accounts in NJ under missingmoney.com. He was in crappy financial shape when he died so I can't imagine they're worth much but am considering sitting down with DS (his only child) and doing the paperwork to see what's there. Weird- I divorced the Ex in 1997 and he died in 2010 and I can still remember his SS number.
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Old 08-30-2017, 12:54 PM   #179
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One educated guess as to what happens when an account goes unclaimed because the beneficiary never claims it. States have "escheat" laws which require certain institutions (banks, insurance companies and likely brokerages as well) to turn over unclaimed funds to the state after a certain number of years. The state, in turn, holds them and keeps a database. (See missingmoney.com) If no one claims the funds from the state, I believe the state is allowed to keep them.
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Old 09-07-2017, 03:19 AM   #180
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the acat transfer was completed yesterday . the statement showing the old account and the confirmation showing the transfer to the new vanguard brokerage account was acceptable .

ironic thing is jpm said they show unlike fidelity who is restricted from access to admiral shares they show they are not restricted and could have transferred the admiral shares over .

i had already planned on moving them to fidelity so that is why i converted them to the etf first but decided afterwards to go for the perks at chase instead .

so it is interesting that some firms can handle admiral shares while others can't .
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