Vanguard Transition is too much trouble

[Qs Laptop]

OP here. I logged into my Vanguard account this morning and it shows all my investments are now in a brokerage account even though when I tried to transition yesterday I got a message that it was not completed. So the transition must have worked anyway. It looks like all my info transferred over--bank info, beneficiaries, etc. It also looks like my husband is still my full agent even though my rep had said I would need notarized form for this--I have messaged the rep to confirm.

I have also asked my rep for the name of someone higher up in management at Vanguard for me to file a complaint about this transition process--it took me hours and was very frustrating. I have been with Vanguard 30 years and do not intend to move at this point but I want them to know I am unhappy about all this.

Let's see...

Conflicting information given.
Foot dragging, incomplete and ineffectual advice given by rep.
Total loss of control of the transferring of your money into a new account.

Tell us again why you don't want to move?

 

[stephenson]

Smiling.

Again, I will say that I have accounts still with Vanguard (brokerage), and with Fidelity.

In comparison, Fidelity is hot, smart, quick and effective.

 

[GrayHare]

My rep claims if you see a Transition link at your account online, it is not ready to transition. Only when you see an Update link (enabled by VG) where the Transition link used to be can you transition online. Would be nice if clicking the Transition link would reveal that information.

 

[MRG]

My rep claims if you see a Transition link at your account online, it is not ready to transition. Only when you see an Update link (enabled by VG) where the Transition link used to be can you transition online. Would be nice if clicking the Transition link would reveal that information.

That makes sense. Vanguard are doing a phased rollout. Safest way a conversion like this can be done. I've seen the opposite done before. Here's the new system for everyone, hopefully it works!

 

[Badger]

I'm not sure why someone would waste time on the website if they are having trouble navigating it when they could make a simple phone call and have a rep take care of it for you.


I was doing other business on the phone a little less than a year ago and had the rep take care of it while I was talking to them.


Cheers!

 

[gwraigty]

I'm not sure why someone would waste time on the website if they are having trouble navigating it when they could make a simple phone call and have a rep take care of it for you.


I was doing other business on the phone a little less than a year ago and had the rep take care of it while I was talking to them.


Cheers!

According to the OP, the rep didn't give that option.

 

[mitchjav]

Been seeing these threads about Vanguard transition (Here and over at Bogleheads) and I see the "transition now" button on my Vanguard home page - but I have never been contacted by phone, email or any other way to transition - that's curious to me ... anyway, if there not pushing it, leaving well enough alone...

 

[easysurfer]

Been seeing these threads about Vanguard transition (Here and over at Bogleheads) and I see the "transition now" button on my Vanguard home page - but I have never been contacted by phone, email or any other way to transition - that's curious to me ... anyway, if there not pushing it, leaving well enough alone...

+1
I'm leaning towards just ignoring and maybe will come to a time VG will do the transition for me by default .

If it ain't broke, don't fix it.

 

[harllee]

I wonder why some of us are being pushed to transition and others hear nothing from Vanguard? Could it be the size or type of account?

 

[jollystomper]

Interestingly, I have an issue with Fidelity that I do not have with Vanguard. With Vanguard I can easily transfer money from a tIRA to a Roth IRA online. With Fidelity I have to call and have an agent do this. It will not let me do this online. So far all I have gotten from then is that my tIRA is in "the wrong type of account for online transfers", and nothing about being able to change it to the right type of account.

 

[pb4uski]

Interestingly, I have an issue with Fidelity that I do not have with Vanguard. With Vanguard I can easily transfer money from a tIRA to a Roth IRA online. With Fidelity I have to call and have an agent do this. It will not let me do this online. So far all I have gotten from then is that my tIRA is in "the wrong type of account for online transfers", and nothing about being able to change it to the right type of account.

Maybe its like the airlines.... they all suck to varying degrees depending on the day.

 

[braumeister]

Interestingly, I have an issue with Fidelity that I do not have with Vanguard. With Vanguard I can easily transfer money from a tIRA to a Roth IRA online. With Fidelity I have to call and have an agent do this. It will not let me do this online. So far all I have gotten from then is that my tIRA is in "the wrong type of account for online transfers", and nothing about being able to change it to the right type of account.

I've done Roth conversions online at Fidelity many times. Been doing it for years.

Just an ordinary TIRA to an ordinary Roth. Maybe you have something different, like an inherited one?

 

[jollystomper]

I've done Roth conversions online at Fidelity many times. Been doing it for years.

Just an ordinary TIRA to an ordinary Roth. Maybe you have something different, like an inherited one?

No, this is my own tIRA, opened many years ago. Added a Roth IRA this year, when trying to transfer online get the message "you do not have any accounts you can transfer from". Called Fidelity, they said correct, we cannot set up your tIRA for online transfer to your Roth, you have to call whenever you want this done.

And I used to think everything was just a simple matter of programming...

 

[braumeister]

Do you see both accounts on your login page?

Have you taken your RMD for the year (if you're of the age)?

I just checked and the conversion option is still available to me.
Seems very strange and I would escalate the matter if I were you.

 

[jollystomper]

Do you see both accounts on your login page?

Yes, I can see all my account types without problem.

Have you taken your RMD for the year (if you're of the age)?

I am not yet RMD age (61).

I just checked and the conversion option is still available to me.
Seems very strange and I would escalate the matter if I were you.

Yeah, I will... so far have only done a couple of transactions but I will be looking into this further (weather has been too nice to spend time on it ).

 

[John Galt III]

I finally got around to attempting the transition a few months ago and there were just too many hoops to bother with, one of which I think was needing to give them my cell phone number (or maybe that was Fidelity), which I didn't want to do. Gave up. So I'm one of the 'change resisters' now I guess, lol. May try it again soon, just to see if they made it easier.

 

[ERD50]

No, this is my own tIRA, opened many years ago. Added a Roth IRA this year, when trying to transfer online get the message "you do not have any accounts you can transfer from". Called Fidelity, they said correct, we cannot set up your tIRA for online transfer to your Roth, you have to call whenever you want this done.

And I used to think everything was just a simple matter of programming...

This sounds familiar. I think the "opened many years ago" is key. I don't recall if I ever did anything about it, or just called a few times. I've converted all those old tIRAs to ROTHs, so no longer an issue for me.

-ERD50

 

[eroscott]

I was able to so my SO's account pretty easily once she got the email. I had done mine some time ago.

Note that if you user Personal Capital that you may have double the accounts (new acct number). I deleted the old ones but lost that history. No big deal as I usually only look back a year.

 

[harllee]

OP here. I just got a message in my Vanguard account from someone at Vanguard apologizing for all the trouble I had in the transition and that they are working to make it smoother. The message noted I had been with Vanguard for 27 years!

 

[reawilliams]

I've been avoiding upgrading my last IRA to brokerage because that would make my IRA total exceed the SIPC 500K protection limit. I don't know if it is any safer as a VG mutual fund account, but don't want to exceed the SIPC limit. I will probably move it to another house if VG forces me to convert.

 

[RetMD21]

I'm surprised that people are having problems with this. We did it a long time ago and it was easy (ok they considered my IRA account transfer a taxable event/ distribution but they fixed that quickly)

 

[gwraigty]

I've been avoiding upgrading my last IRA to brokerage because that would make my IRA total exceed the SIPC 500K protection limit. I don't know if it is any safer as a VG mutual fund account, but don't want to exceed the SIPC limit. I will probably move it to another house if VG forces me to convert.

I'm no Vanguard fan, but don't make decisions based on incorrect assumptions. SIPC doesn't cover your Vanguard mutual fund account. It only covers securities held in a brokerage account. Also, Vanguard has supplemental SIPC insurance, as noted on Vanguard's website:

https://investor.vanguard.com/investing/account-protection

Many brokerage firms purchase supplemental insurance.

Some basic SIPC info:

https://www.sipc.org/for-investors/what-sipc-protects

 

[The HalfBreed]

To Transition or not to transition...That is the question

I've been getting those messages for well over 6 months now, to transition my account. I have a taxable mutual fund and a ROTH IRA.
I called asking a few questions, and long story short, either he didn't understand me, or vice versa, because he didn't know.

ANYWAY ~

The Vanguard Rep told me I don't really HAVE to transition my account if I don't want to, and it's only there to give me access to other types of investments like ETF's and such.

I told him I have no interest in doing anything except holding onto those two funds, and he told me not to worry, because they can't FORCE me to transition my account if I don't want those other services, so, I'm ignoring it.

 

[UpAnchor]

I have both Vanguard and Fidelity... I don't notice one being demonstrably better than the other in my experience.... everyone seems to be gaga over Fidelity's website and tools and I've used them and just haven't been very impressed... they're ok but nothing to get excited about.

I feel the same way. Vanguard’s website (and mobile app) tells me only what I need to know without the “busy-ness” of Fidelity’s. But then I’m just a simple mutual fund investor who doesn’t trade so I’m not surprised there are others whose opinions would differ. I’m more surprised at how often Fidelity’s is highly praised while Vanguard’s is disparaged.

 

[UpAnchor]

I've been getting those messages for well over 6 months now, to transition my account. I have a taxable mutual fund and a ROTH IRA.
I called asking a few questions, and long story short, either he didn't understand me, or vice versa, because he didn't know.

ANYWAY ~

The Vanguard Rep told me I don't really HAVE to transition my account if I don't want to, and it's only there to give me access to other types of investments like ETF's and such.

I told him I have no interest in doing anything except holding onto those two funds, and he told me not to worry, because they can't FORCE me to transition my account if I don't want those other services, so, I'm ignoring it.

Interesting, since I believe emails from Vanguard pushing me to transition have indicated that it “will” happen.