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Old 09-04-2016, 05:57 PM   #41
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I am currently transferring all of my Ameriprise funds to Vanguard.

The Vanguard transfer backlog is about 3.5 weeks. They were pretty upfront about this when I asked how long it will take.

I tracked all the forms thru Fed Ex to make sure they were received. I call Vanguard every week and they update me on the progress without much hassle. Last week they finally reviewed the documents and the money showed up in my Vanguard accounts right away. The annuity is taking longer and the money is being sent by check to Vanguard. So the funds are out of Ameriprise but not yet in Vanguard. This makes me nervous

I think what helped most was working directly the a Vanguard rep to set up the appropriate accounts prior to the transfers. These accounts have a link to get transfer status which was helpful.

Good luck and keep calling Vanguard if you need to!!
100% Vanguard for longer than I can remember. The new Wife will be this year after a little go round with her 'financial planner' of 35 years with the knowledge in the back of her mind(courtesy of me ) of how much she is paying and has paid for American Funds and a variable annuity.

heh heh heh - I expect it to be not without some slog and follow up required cause I tend to be left handed and lean a tad pessimistic.
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Old 09-04-2016, 06:12 PM   #42
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So far my dealings with Vanguard have not been too bad.

One thing I dislike about their broker page is the lack of real-time stock values, I mean the values are delayed by a day !
Sure you see the real-time value when you go to do a trade, but it is very misleading.
I of course gave them my opinion on that

But maybe all brokerages have some issue, Scottrade was hacked, and they told us an entire year later (actually I think after it came out in the news).
Had they told us at the time, I would have immediately changed my password.
I explained my unhappy reason as I moved 2 accounts.
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Old 09-04-2016, 06:26 PM   #43
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Vanguard should have been able to tell me where they were in the process and what the hold up was. Not "we have not received the request."
Hold on a minute. Put yourself in their shoes. If they have not received the request how can they tell you where you are in the process and what the hold up was. Both of those come after the request was received... for all they know it could be hung up in the mail or being returned to you for insufficient postage or bad address or whatever.

While it is reasonable for you to expect them to tell you where a request that they have received is within their process it is unreasonable for you to expect them to be able to report to you on a request that they have not yet received.
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Old 09-04-2016, 06:35 PM   #44
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Hold on a minute. Put yourself in their shoes. If they have not received the request how can they tell you where you are in the process and what the hold up was. Both of those come after the request was received... for all they know it could be hung up in the mail or being returned to you for insufficient postage or bad address or whatever.

While it is reasonable for you to expect them to tell you where a request that they have received is within their process it is unreasonable for you to expect them to be able to report to you on a request that they have not yet received.
If the processing time is 3.5 weeks, a time frame quoted to another poster, they likely did have the form but had not processed it yet. I will ask them Tuesday when they received the form.
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Old 09-04-2016, 07:15 PM   #45
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I recently helped the in-laws move 3 accounts from Merrill Lynch to Fidelity. Two IRAs, one taxable brokerage. We moved all the securities in-kind. Piece of cake. Handled completely on-line and initiated from the Fidelity side. The request was processed real time. Then every day, we logged in to check the status online at Fidelity. We knew exactly when Merrill Lynch received the request, when they approved the request, and what day the assets would move. Four days later all assets were at Fidelity. Some dividends showed up at Merrill a day or two after and Fidelity automatically swept them over a couple days later. I then helped them rearrange a few things, replace some high ER mutual funds with Vanguard ETFs, and deploy some idle cash.

I can't understand paper forms, mail rooms, phone calls, unknown status, not knowing where your money is, etc. I suppose some level of bureaucratic tolerance is necessary in these matters, but I can certainly understand the frustration. DW and I keep everything housed at Fidelity, but the portfolio is 50/50 Vanguard/iShares index ETFs. Ultra low cost and very high service levels. There's no reason you can't benefit from Vanguard's low cost but get better service elsewhere.
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Why I Don't Have Much Confidence in Vanguard
Old 09-04-2016, 10:41 PM   #46
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Why I Don't Have Much Confidence in Vanguard

We transferred 4 different accounts to Vanguard but it was done all electronically without any paperwork.

I'm thinking as long as I do things via computer instead of paper I'll be good to go. I do not really care about customer service only the lowest fees possible (and secure electronic systems).
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Old 09-04-2016, 10:55 PM   #47
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I do not really care about customer service only the lowest fees possible...
But that is not necessarily true at Vanguard, as detailed in earlier posts.
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Old 09-04-2016, 11:02 PM   #48
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But that is not necessarily true at Vanguard, as detailed in earlier posts.

Lowest fees for Wellington Admiral my only Vanguard holding.
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Old 09-05-2016, 12:23 AM   #49
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Between another company and Vanguard, it can be a real challenge to transfer accounts in a timely fashion. Even sending new funds can be a problem. That's one of the reasons I can't give Vanguard a whole-hearted recommendation. Still, for the low costs, it's the best game in town for me. You just have to stay on top of everything you do with them (trust but verify.) Also, if you see a deadline (like end of year) be certain to start the process EARLY if you want to insure success. Other than that, I've thought Vanguard had the best funds with the lowest costs of any company I've looked at. More than ever, YMMV.
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Old 09-05-2016, 05:10 AM   #50
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I made the mistake of moving money from IB to Vanguard, it literally took over 30 days from them to activate my account. Granted it was a trust account but still that is absurd. It took IB literally 3 business days and was handled beautifully. The trading interface at Vanguard is juvenile at best and they have tons of restrictions. Yes, I am not a passive buy and hold guy but use a modified Ivy Portfolio, for some of my money. I gave up on Vanguard and pulled all my money out back to IB. While I still use the Vanguard funds , I see no reason to deal with their clumsy brokerage.
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Old 09-05-2016, 09:24 AM   #51
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We transferred 4 different accounts to Vanguard but it was done all electronically without any paperwork.

I'm thinking as long as I do things via computer instead of paper I'll be good to go. I do not really care about customer service only the lowest fees possible (and secure electronic systems).
When retiring and moving my 401K through w*rk held in Fidelity to an existing Vanguard IRA, I had to do the actual check then send to Vanguard. The process went through without a hitch (I found Vanguard very helpful and we even did a 3 way conference call with Vanguard, Fido and myself to make sure we were all on the same page), and if my memory serves right, took about 2-3 weeks. Yet, just waiting was one of the most nerve wracking weeks in my entire life though just imagining something can go wrong with a huge portion of my life's savings in the mail.
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Old 09-05-2016, 09:36 AM   #52
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I started to move my Roth to them 2 months ago. Filled out forms twice and it is still not there yet. But other than that I think they are a good company.
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Old 09-05-2016, 11:19 AM   #53
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I made the mistake of moving money from IB to Vanguard, it literally took over 30 days from them to activate my account. Granted it was a trust account but still that is absurd. It took IB literally 3 business days and was handled beautifully. The trading interface at Vanguard is juvenile at best and they have tons of restrictions. Yes, I am not a passive buy and hold guy but use a modified Ivy Portfolio, for some of my money. I gave up on Vanguard and pulled all my money out back to IB. While I still use the Vanguard funds , I see no reason to deal with their clumsy brokerage.
Vanguard has never been known for their brokerage account....

I would never recommend anybody who wants to trade to use them...

But, interestingly, all new accounts are being moved into a brokerage account setup...
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Old 09-05-2016, 11:26 AM   #54
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Vanguard has never been known for their brokerage account....

I would never recommend anybody who wants to trade to use them...

But, interestingly, all new accounts are being moved into a brokerage account setup...


As a general rule, I agree... And in fact, I was considering closing it down and moving all my money since my initial attraction of their mutual funds, I do not use anymore... But then they have snagged me 4 trades in highly illiquid grey market issues that Ameritrade and Tradeking couldnt get or even find for me. Not a reason for most, but I do just enough of that so I will keep them...I was actually shocked because I originally thought they would be the last to accomplish it. But they really went the extra mile down on the trade floor to find them for me.


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Old 09-05-2016, 11:35 AM   #55
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I started to move my Roth to them 2 months ago. Filled out forms twice and it is still not there yet. But other than that I think they are a good company.
Did you talk to them? Discuss how the money was to be moved?

I rolled over 2 different accounts from 2 providers and the instructions for the rollovers were different for each. Each of the rollovers were assigned to a different specialist perhaps just personal preference.

One was a check the other wired. The manual check was twice as fast as the wire from Fidelity.

I could see the progress of each rollover by logging into Vanguard.
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Old 09-05-2016, 03:14 PM   #56
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As a general rule, I agree... And in fact, I was considering closing it down and moving all my money since my initial attraction of their mutual funds, I do not use anymore... But then they have snagged me 4 trades in highly illiquid grey market issues that Ameritrade and Tradeking couldnt get or even find for me. Not a reason for most, but I do just enough of that so I will keep them...I was actually shocked because I originally thought they would be the last to accomplish it. But they really went the extra mile down on the trade floor to find them for me.


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Interesting... glad to hear that they do offer a service that others do not..

I have not had any problem with trading with them.... it just is not as easy as other places, but every one of my trades have gone through without a hitch...

I even sold that BGL?? that was called 30 minutes or so after I bought it... it just gave me a warning that I could not use the funds until everything was settled... no problem with me...

Still, I do not think they are set up for people who trade... but, for people who just want to buy and hold for awhile they are just fine...
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Old 09-05-2016, 03:27 PM   #57
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I bet they stood on the line 20-30 minutes digging around for me each time, so I have to give them credit there....But like you say, for my regular trading I use cheaper brokerages. Since I am a nobody, their commissions are higher for me. I just keep the issues that I never trade in that account and my Roth brokerage, also (just being lazy there, and try not too trade too much in it either).
How I discovered this was an illiquid CTWSO, that rarely has any shares for sale. I knew a guy from another forum put 500 up for sale. Ameritrade and TradeKing couldnt find them and said none were available. Tradeking went as far to tell me they couldnt do it anyways as it is illegal to buy directly from someone (whatever, as it didnt have to be his anyways, I was just giving them proof there were some). Not only did Vanguard find me those the seller was selling they found me 500 more also at same price. I was amazed...


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Old 09-07-2016, 08:04 AM   #58
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Fidelity hates Vanguard, the bane of Fido's existence. They even resist sharing details of their funds on their research tool, ditto for T.Rowe (they have shown some funds to be "closed to new investors" when they were not. But Fido has had a change of heart regarding fees and now offer some funds that are even cheaper to own than Vanguard.
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Old 09-07-2016, 09:36 AM   #59
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This gets better. The money left the other company on September 2. The Vanguard website states that I can expect the transfer to take 4 to 6 weeks. WTH? I called Vanguard. No electronic transfer. A check was probably mailed. If it takes them as long to find and process the check as it did to process the request, this should take until the end of September.

Only Vanguard offers the Admiral shares of Wellington. So the rollover IRA that holds the Wellington shares will remain at Vanguard. However, I won't be sending them any other money.
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Old 09-07-2016, 09:49 AM   #60
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Been interesting to read people's experiences here and helps us watch out for issues like others have had.

Our experiences with Vanguard to date have all been good. We've had accounts with Vanguard for several years. In the last year we've transferred one 5 figure and one 7 figure account from other institutions to Vanguard without problem. In both cases, we called Vanguard and had them do most of the work. During one phone call, they filled out the paperwork for us which we reviewed and electronically approved. After the call, they contacted the other institutions and made the transfers happen. They had given us initial estimates of the time things would take and things went as planned.
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