vanguard beneficiary policy stinks

[Texas Proud]

Quote:

Originally Posted by mathjak107 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 .

But aren't ETFs even cheaper than Admiral? Maybe it is a good thing...

[mathjak107]

they were the same identical expense in this case

[Sunset]

Quote:

Originally Posted by mathjak107 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 .

Thanks for bringing up this issue.

We "accidentally" ended up with a joint account at Vanguard.

I've been on the fence about making it single, as it's a hassle and there was no clear reason, but add in the TOD issue and it becomes crystal clear now.

[nwsteve]

Quote:

Originally Posted by mathjak107 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 .

Wonder if it is not just who Vanguard considers a competitor. I was told by Fido rep that Vanguard considers Admiral proprietary and would not allow Fido to hold. In same vein, Fido does not provide any detail on Admiral shares--just the basics. Always had to go to Vanguard site to see portfolio info for example.

[youbet]

Quote:

Originally Posted by Texas Proud 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...

Yep. It's amazing how folks develop loyalty to one brokerage firm/MF company or another. They all have their pros and cons and it's simply a matter of doing business with the one that suites you. Or more than one for that matter.

I do business with Schwab because their business model suites my (and my family's) needs the best. I generally like the way Vanguard looks from my view on the outside, but they're missing some features I like/need.

It isn't a matter of which is best for everybody. It's a matter of which is best for you.

[mathjak107]

Quote:

Originally Posted by nwsteve Wonder if it is not just who Vanguard considers a competitor. I was told by Fido rep that Vanguard considers Admiral proprietary and would not allow Fido to hold. In same vein, Fido does not provide any detail on Admiral shares--just the basics. Always had to go to Vanguard site to see portfolio info for example.

the funny thing is while fidelity told me they can not handle admiral shares jpm said no problem they show them on their list as fine for transferring over.

i already had done the etf conversion so we never got to actually try it .