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05-04-2022, 09:44 PM
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#201
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 1,561
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Vanguard is my 401(k) administrator.
Hadn't logged in since late 2020. Tried to do so about a month ago & realized they couldn't send me a login code because my cell phone number had changed.
A week later, I called customer service to try & update my contact info.
The initial message said wait time would be approximately 1 hour & 5 minutes. 25 minutes later it was still 1 hour & 5 minutes. Tried again the following week. Same results.
Purchased a Logitech 800 headset. Called Vanguard this past Monday. While on hold I was able to, do my dishes, do a full load of laundry, clean up the garage, sweep the floor, get all my garbage & recyclables ready to put out that night, clean the shower/toilet, & watch 1/2 hour of Judge Judy.
1 hour 52 minutes & 41 seconds to change my contact number. It's probably been close to a year since I tried to contact Fidelity. I'm going to contact them this coming Friday. If my wait time is less than 10 minutes, I'm probably going to transfer the 401(k).
Maybe it's an asset thing ? I've always received incredible customer service at Fidelity. My Vanguard 401(k) is relatively small, right around 300 K. At Fidelity my total is about 1.2 million.
I did make the call to Vanguard on a Monday, but just under 2 hours to do something as simple as change your contact number seems unacceptable.
Pretty sure this was the last straw.
__________________
"No beast so fierce but knows some touch of pity, but I know none, therefore am no beast"
Shown @ The End Of The Movie 'Runaway Train'
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05-04-2022, 10:22 PM
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#202
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Quote:
Originally Posted by ownyourfuture
.......... & watch 1/2 hour of Judge Judy..........
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Did you know she was making $40M a year on that show? - a million dollars an episode. I was petulant and preachy my whole life and never made a fraction of that.
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05-05-2022, 05:28 AM
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#203
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,930
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Quote:
Originally Posted by travelover
Did you know she was making $40M a year on that show? - a million dollars an episode. I was petulant and preachy my whole life and never made a fraction of that.
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Always better to be lucky than good.
__________________
Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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05-05-2022, 09:10 AM
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#204
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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What if I am neither lucky nor good?
Well, at least I have a lot of company.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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05-05-2022, 10:32 AM
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#205
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,327
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Quote:
Originally Posted by NW-Bound
What if I am neither lucky nor good?
Well, at least I have a lot of company.
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Don’t need to be lucky or good to buy and hold Index funds. You will have a lot of company, too
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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05-05-2022, 01:32 PM
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#206
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Thinks s/he gets paid by the post
Join Date: Oct 2015
Posts: 2,330
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Quote:
Originally Posted by ownyourfuture
Vanguard is my 401(k) administrator.
1 hour 52 minutes & 41 seconds to change my contact number. It's probably been close to a year since I tried to contact Fidelity. I'm going to contact them this coming Friday. If my wait time is less than 10 minutes, I'm probably going to transfer the 401(k).
Maybe it's an asset thing ? I've always received incredible customer service at Fidelity. My Vanguard 401(k) is relatively small, right around 300 K. At Fidelity my total is about 1.2 million.
I did make the call to Vanguard on a Monday, but just under 2 hours to do something as simple as change your contact number seems unacceptable.
Pretty sure this was the last straw.
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I have to agree, that kind of hold time is pathetic. Heck, that's worse than the government. Clearly, their priorities are no longer with their customers... or, at least not with "small fry" customers. IT is sad, because Vanguard used to be a model of customer service (not bells and whistles, but solid service) for small customers.
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05-05-2022, 07:15 PM
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#207
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Full time employment: Posting here.
Join Date: Aug 2018
Posts: 597
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Do you think today was busy at Vanguard about 3 pm!
I called, wait time was 5-15 minutes so I requested a call back. That came in about 5-6 minutes.
I needed to check something else and had to talk to an agent so I called again at about 3:30. Wait time was 3-11 minutes so I just stayed on the phone this time and I had a person in about 3-4 minutes.
If any day should have had long wait times I would have thought today would be it. Maybe I was just lucky but I seldom have to wait more than 5-10 minutes but I don't call all that often. Maybe being Flagship level gets me better treatment?
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05-05-2022, 07:41 PM
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#208
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,930
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Quote:
Originally Posted by Graybeard
Do you think today was busy at Vanguard about 3 pm!
I called, wait time was 5-15 minutes so I requested a call back. That came in about 5-6 minutes.
I needed to check something else and had to talk to an agent so I called again at about 3:30. Wait time was 3-11 minutes so I just stayed on the phone this time and I had a person in about 3-4 minutes.
If any day should have had long wait times I would have thought today would be it. Maybe I was just lucky but I seldom have to wait more than 5-10 minutes but I don't call all that often. Maybe being Flagship level gets me better treatment?
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I call rarely, but this has been my experience as well. Once reaching someone, I've been generally satisfied with the service. No, it isn't "your father's" Vanguard, but the costs keep dropping. One man's experience, so YMMV.
__________________
Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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05-05-2022, 08:42 PM
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#209
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Location: North
Posts: 4,043
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Everytime I call Vanguard I get almost instant service. I did have to wait a little while once when transferred to the 401k department, but I have a Solo 401k and I was also locked out but didn't have to update my phone #...They just reset me to a temp password, gave me the temp password over the phone and then made sure I could get to the password update screen. I have around similar assets that you have there. I think you must have had bad timing if that is a thing. What time did you call? My lockout was about a month or two ago.
__________________
Time > $$$ ~ 100% equities ~ FIRE @2031
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05-05-2022, 08:45 PM
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#210
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Location: North
Posts: 4,043
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About a month ago I needed to get transferred to the solo 401k dept to get a temp password as I was also locked out. Didn't need a phone # update though. I think the wait time was about 15 to 20min. Every other time I've called in, I get almost immediate service.
I admit I did helpdesk early in my IT career and resetting passwords was the least glamorous activity I've done in my 20 yrs of IT work. I would have co-workers pickup there phone and put it back on the hook to reset the algorithm in the queue so that it looked like they just took a call, or made a call, moving them to the bottom of the pecking order. Slimy little punks.
I think you might have hit a window of time where they were understaffed.
__________________
Time > $$$ ~ 100% equities ~ FIRE @2031
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05-05-2022, 08:55 PM
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#211
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Administrator
Join Date: Apr 2006
Posts: 23,041
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I'll repeat what I have advised before: If you want to have a smooth experience with Vanguard, Schwab, Fidelity or anyone else, keep your financial affairs as simple and standard as possible. The people answering the phone are trained to deal with the simple and standard. If you have an unusual situation or complicated question, it will take more time and you are more likely to get the wrong answer. You may think that you shouldn't have to simplify, but what would you rather do, wait on the phone for an hour and get bad information or accomplish your mission? I place a value on simplicity in getting what I want and I structure my financial life accordingly.
__________________
Living an analog life in the Digital Age.
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05-05-2022, 11:18 PM
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#212
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Full time employment: Posting here.
Join Date: Jul 2013
Location: London/UK (dual US/UK citizen)
Posts: 502
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Quote:
Originally Posted by Gumby
I'll repeat what I have advised before: If you want to have a smooth experience with Vanguard, Schwab, Fidelity or anyone else, keep your financial affairs as simple and standard as possible. The people answering the phone are trained to deal with the simple and standard. If you have an unusual situation or complicated question, it will take more time and you are more likely to get the wrong answer. You may think that you shouldn't have to simplify, but what would you rather do, wait on the phone for an hour and get bad information or accomplish your mission? I place a value on simplicity in getting what I want and I structure my financial life accordingly.
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I agree with Gumby but there’s a corollary- if for some reason you need complications, than you need to be prepared to pay for help. If my taxes were simple I’d do them myself, but because of the way we’ve lived our lives (multiple countries, companies, assets etc) they’re not so i don’t even try - I hire help. My investing is simple so Vanguard works for me and whatever help I’ve needed I’ve got easily. If I wanted complications there, I’d pay an advisor to do the necessary for me.
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05-06-2022, 03:22 PM
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#213
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,930
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Quote:
Originally Posted by Dd852
I agree with Gumby but there’s a corollary- if for some reason you need complications, than you need to be prepared to pay for help. If my taxes were simple I’d do them myself, but because of the way we’ve lived our lives (multiple countries, companies, assets etc) they’re not so i don’t even try - I hire help. My investing is simple so Vanguard works for me and whatever help I’ve needed I’ve got easily. If I wanted complications there, I’d pay an advisor to do the necessary for me.
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Yeah, even uncomplicated taxes (and mine get less complicated all the time - I'm down to only one state-tax filing from now on) I still want to pay someone else to do it for me. Some things just seem daunting to me and I'll gladly pay for help. YMMV
__________________
Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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05-07-2022, 11:10 PM
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#214
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 1,561
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Quote:
Originally Posted by kgtest
I think you must have had bad timing if that is a thing. What time did you call? My lockout was about a month or two ago.
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Monday, approximately 4 PM CDT.
__________________
"No beast so fierce but knows some touch of pity, but I know none, therefore am no beast"
Shown @ The End Of The Movie 'Runaway Train'
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05-08-2022, 05:58 AM
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#215
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Recycles dryer sheets
Join Date: Jun 2011
Posts: 297
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Have experienced with Vanguard, Fidelity, Schwab... Fido is best not only better website and phone service. Vanguard is clumsy when it comes to online website experience and customer service. Schwab website is better but still needs lots of improvement. But worse, they charge Fee for moving out my own IRA funds. Fidelity is devoid of most of such issues. So in my mind, Fido is the winner !
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05-08-2022, 07:20 AM
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#216
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Thinks s/he gets paid by the post
Join Date: Nov 2008
Posts: 3,410
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Quote:
Originally Posted by Gumby
I'll repeat what I have advised before: If you want to have a smooth experience with Vanguard, Schwab, Fidelity or anyone else, keep your financial affairs as simple and standard as possible. The people answering the phone are trained to deal with the simple and standard. If you have an unusual situation or complicated question, it will take more time and you are more likely to get the wrong answer. You may think that you shouldn't have to simplify, but what would you rather do, wait on the phone for an hour and get bad information or accomplish your mission? I place a value on simplicity in getting what I want and I structure my financial life accordingly.
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I started simplifying my and my wife's Vanguard accounts a few years ago to just IRAs with one fund each, MM account, and having our RMDs on autopilot with that money and dividends swept into MM accounts. I get monthly paper reports. Although I also have stock investments with Schwab I don't buy or sell very often. I don't see a need to make my investments any more complicated. It also makes it easier for my wife (who is not too investment savvy) to take over if I am not able.
This also makes doing taxes very easy/simple.
Cheers!
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05-08-2022, 02:24 PM
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#217
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,930
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Quote:
Originally Posted by retired1
Have experienced with Vanguard, Fidelity, Schwab... Fido is best not only better website and phone service. Vanguard is clumsy when it comes to online website experience and customer service. Schwab website is better but still needs lots of improvement. But worse, they charge Fee for moving out my own IRA funds. Fidelity is devoid of most of such issues. So in my mind, Fido is the winner !
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Wait. What? Who charges for moving IRA funds?
__________________
Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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05-08-2022, 02:40 PM
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#218
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2017
Location: City
Posts: 10,351
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Quote:
Originally Posted by Koolau
Wait. What? Who charges for moving IRA funds?
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I think most brokerage companies charge a nominal fee when an account is closed and the assets moved to another house. Maybe that is what @retired1 is referring to.
From a quick search it looks like Fast Eddie charges $95. I could not find what Schwab charges but I'd be surprised if it is zero.
__________________
Ignoramus et ignorabimus
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05-08-2022, 03:59 PM
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#219
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Full time employment: Posting here.
Join Date: Sep 2014
Posts: 600
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Quote:
Originally Posted by ownyourfuture
Vanguard is my 401(k) administrator.
Hadn't logged in since late 2020. Tried to do so about a month ago & realized they couldn't send me a login code because my cell phone number had changed.
A week later, I called customer service to try & update my contact info.
The initial message said wait time would be approximately 1 hour & 5 minutes. 25 minutes later it was still 1 hour & 5 minutes. Tried again the following week. Same results.
Purchased a Logitech 800 headset. Called Vanguard this past Monday. While on hold I was able to, do my dishes, do a full load of laundry, clean up the garage, sweep the floor, get all my garbage & recyclables ready to put out that night, clean the shower/toilet, & watch 1/2 hour of Judge Judy.
1 hour 52 minutes & 41 seconds to change my contact number. It's probably been close to a year since I tried to contact Fidelity. I'm going to contact them this coming Friday. If my wait time is less than 10 minutes, I'm probably going to transfer the 401(k).
Maybe it's an asset thing ? I've always received incredible customer service at Fidelity. My Vanguard 401(k) is relatively small, right around 300 K. At Fidelity my total is about 1.2 million.
I did make the call to Vanguard on a Monday, but just under 2 hours to do something as simple as change your contact number seems unacceptable.
Pretty sure this was the last straw.
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You should have updated your cell phone info immediately when you changed it. It's important to update your personal info.
You created the problem. Not Vanguard.
So you purchased a headset to sit on hold with Vanguard and do house work and watch crap TV? Cool story.
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05-08-2022, 04:50 PM
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#220
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,327
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Quote:
Originally Posted by Koolau
Wait. What? Who charges for moving IRA funds?
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My regional brokerage charged me when I authorized Fido to do an in-kind transfer closing the account. Fido reimbursed. I was very surprised when NASA FCU charged an IRA closure fee but they had initiated a full transfer by mistake instead of a partial as authorized.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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