Vanguard request to 'upgrade'

[easysurfer]

Quote:

Originally Posted by FUEGO I hope we can opt out of any consolidation. Since DW still works for a FINRA regulated entity, we can't have a brokerage account at Vanguard (because it's not one of the approved custodians with our compliance department). We have extensive MF holdings at VG but will be out of compliance if they are held in a brokerage account at VG. DW will probably quit working soon anyway, so maybe this won't impact us.

More details described on VG's pdf file. From page 7:

Quote:

When do I need to act? While you’re not required to move your assets at this time, we’re asking you to act now so that you can join the thousands who are enjoying the benefi ts of the new account structure.

http://www.vanguard.com/pdf/faqbroch_122014.pdf

I'm holding off until I have to act

[calmloki]

We swapped - no worse or better than any other company revision. We ended up with our two accounts (hers and mine, with each other as beneficiary) proper on the registration details, but with my account shown as "hers and mine" in the account list, and with her account shown as "mine and hers and mine". We are assured they will get it corrected in 3-4 days. About as fun as when the bank changes it's software and all the autopayments I have set up have to be re-entered. Or when the garbage company changes it's software and I have to re-register for all the places and set up payments again.

Somehow I suspect there is a push by companies to make all these great changes right at year end. For our convenience of course.

[pb4uski]

Quote:

Originally Posted by FUEGO I hope we can opt out of any consolidation. Since DW still works for a FINRA regulated entity, we can't have a brokerage account at Vanguard (because it's not one of the approved custodians with our compliance department). We have extensive MF holdings at VG but will be out of compliance if they are held in a brokerage account at VG. DW will probably quit working soon anyway, so maybe this won't impact us.

From the discussion I had with my rep, it is optional for existing accounts but at some point in the near future new accounts will be set up as brokerage accounts. The rep said that it may take as long as a decade to do the conversions so it didn't sound to me like they will be pushing it very hard.

We have 6 different accounts at VG (his, hers and ours taxable, his and hers Roth and his tiRA) and only my tIRA has both a mutual fund and brokerage account so perhaps I'll convert that one and leave the rest.

[pb4uski]

Quote:

Originally Posted by braumeister This is exactly the kind of thing that sent the majority of my portfolio over to Fidelity about seven or eight years ago. I've never been anything but happy with their customer service. I keep one account at Vanguard with a couple of funds in it, but that's it.

I was just kidding with the guy... its my stock line with CSRs when their company is doing something stupid that inconveniences me. I have actually had good experience with them over a 25 year relationship.

[calmloki]

Quote:

Originally Posted by calmloki We swapped - no worse or better than any other company revision. We ended up with our two accounts (hers and mine, with each other as beneficiary) proper on the registration details, but with my account shown as "hers and mine" in the account list, and with her account shown as "mine and hers and mine". We are assured they will get it corrected in 3-4 days. About as fun as when the bank changes it's software and all the autopayments I have set up have to be re-entered. Or when the garbage company changes it's software and I have to re-register for all the places and set up payments again. Somehow I suspect there is a push by companies to make all these great changes right at year end. For our convenience of course.

HEY! I"M RETIRED! So this morning Fidelity left a message to the effect that our Fidelity Amex has been compromised, but no worries - they are sending a new card which should arrive about Christmas time. On 1/6/2015 our old card numbers are no good and we need to just use the new card. Swell. So now I get to discover which bills are set to pull from the old Fidelity Amex. Kaiser insurance, Ebay, Amazon Prime, some garbage companies, ... uh uhh? what else... All I have is time, right?

[FUEGO]

Quote:

Originally Posted by calmloki HEY! I"M RETIRED! So this morning Fidelity left a message to the effect that our Fidelity Amex has been compromised, but no worries - they are sending a new card which should arrive about Christmas time. On 1/6/2015 our old card numbers are no good and we need to just use the new card. Swell. So now I get to discover which bills are set to pull from the old Fidelity Amex. Kaiser insurance, Ebay, Amazon Prime, some garbage companies, ... uh uhh? what else... All I have is time, right?

They send me a new card every 6 months or so. Minor inconvenience for 2% cashback everywhere (that takes Amex). And they are really quick to put a fraud block on my card, too.

[gauss]

2 questions about statements with Vanguard Brokerage accounts:

- If there are no trades how often are statements generated?

- Is a cumulative year to date statement still offered once a year?

I am concerned that Vanguard's moves to encourage all mutual fund holders to convert to brokerage accounts will cause more statement book keeping.

I was quite content to have quarterly statements and an annual year to date statement with my non-traded mutual funds.

Thanks
-gauss

[meierlde]

Quote:

Originally Posted by gauss 2 questions about statements with Vanguard Brokerage accounts: - If there are no trades how often are statements generated? - Is a cumulative year to date statement still offered once a year? I am concerned that Vanguard's moves to encourage all mutual fund holders to convert to brokerage accounts will cause more statement book keeping. I was quite content to have quarterly statements and an annual year to date statement with my non-traded mutual funds. Since dividends come every month for stocks (not necessarily the same stocks however) there are transactions every month, as also occurs for sweep account. Thanks -gauss

You get a monthly statement which shows at least dividends paid out. It is easy to download. The december statement is year to date for mutual funds (vanguard funds) and shows dec only for stocks and non vanguard mutual funds. It also shows dividends declared but not yet paid for the brokerage accounts.

[Livin Large in MT]

I prefer always having a brokerage account wherever I have my money because then I have the maximum options. I can buy individual stocks, ETF's, mutual funds which are not VG funds... so what you are doing now is what I did in first place.

[rayinpenn]

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