Vanguard's Scottsdale office

[Willers]

The majority of our assets are with Vanguard and DW is less than interested in managing them. I have a binder written for her to help her should I pass away before she does, but the transition might be tough for her.

One idea I had was for her to actually visit the VG Scottsdale office (reasonably close to where we live) to have someone there walk her through the account consolidations and the accounts we have in place. I'm not sure she will be comfortable managing this over the phone.

Does anyone have experience with their office?

 

[Badger]

No experience with a Vanguard office even though I have our IRAs with them. But I have done the same for my wife for the same reason. Since we have stocks and CDs through Schwab and since she has met our rep that I have been working with for about 12+ years I have encouraged her to continue with him for advice. She also knows to go to our lawyer that we use for trust, will, etc. for help and/or recommendation of a few accountants for tax advice. I am also continuing to simplify our investments and provide a quarterly updated spread sheet with all information organized.

 

[TheWizard]

No experience with any Vanguard offices.
So long as everything is with Vanguard, she will be fine, with or without "consolidation".

I'd be more concerned about her seeking help from a friendly local SHARK, such as an Edward Jones rep...

 

[Chuckanut]

The majority of our assets are with Vanguard and DW is less than interested in managing them. I have a binder written for her to help her should I pass away before she does, but the transition might be tough for her.

One idea I had was for her to actually visit the VG Scottsdale office (reasonably close to where we live) to have someone there walk her through the account consolidations and the accounts we have in place. I'm not sure she will be comfortable managing this over the phone.

Does anyone have experience with their office?

I think you are smart to do what you did. I did not know that Vanguard had any offices outside of their headquarters.

I have helped a number of relatives and friends open accounts with Fidelity and Schwab. Initially it was the higher CD rates that sparked their interest. However, I was not excited to think that every time they ran into a problem or question they might call me. So, I wanted them to have an office they can walk into with a person who could help them. Vanguard has few offices so Fidelity and Schwab came out ahead.

 

[Willers]

No experience with any Vanguard offices.
So long as everything is with Vanguard, she will be fine, with or without "consolidation".

I'd be more concerned about her seeking help from a friendly local SHARK, such as an Edward Jones rep...

Luckily (unluckily?) we have family member experiences with both Ed Jones and Raymond James so she knows not to go anywhere near those guys.

Maybe if I simplify things it won't matter. She can just leave it as is.

 

[Midpack]

I’ve been with Vanguard for 20 years or so. Never seen much less been to a Vanguard office…maybe I should find one just for fun?

 

[Rianne]

I’ve been with Vanguard for 20 years or so. Never seen much less been to a Vanguard office…maybe I should find one just for fun?

+1. Most here talk about educating their wives, I'm the wife and educate DH. He has no idea about our bills, I explain the budget every month, buying CDs, SS, and Medicare, I signed us up for the ACA back in 2014, he had no clue. I sign into my password manager and explain the bank account and balance it. Every so often we go through VG and look at the progress. We have a living trust. I update his cell phone. I signed him up for Medicare and told him to talk to the man on the phone and answer his questions. I will help him sign up for social security in Jan. I show him the calculators (firecalc etc.). He left it all up to me. I could have a secret Cayman account and he would not know. But we trust each other after 40+ years. And he complains that grapes went up .10 in the grocery store.
I also review tax returns for AARP as a volunteer. This is a new learning process for me. And now I'm thinking why did we pay an accountant all these years

 

[audreyh1]

I also do all the financial planning and investment management although DH still does the annual taxes with TurboTax so he gets a bird’s eye view. He has managed his own investments in the past so he won’t be foundering. However if I go before he does he probably can leave things alone if he chooses. At some point I’ll blow off rebalancing etc.anyway and just pull from what’s highest if needed. Managing RMDs is the main challenge and he can handle that. Knowing him he’ll do it all as QCDs!

I do plan to consolidate, but as long as we’re traveling including overseas a lot, several accounts we have support travel.

 

[Chuckanut]

+1. Most here talk about educating their wives, I'm the wife and educate DH. He has no idea about our bills, I explain the budget every month, buying CDs, SS, and Medicare, I signed us up for the ACA back in 2014, he had no clue. I sign into my password manager and explain the bank account and balance it. Every so often we go through VG and look at the progress. We have a living trust. I update his cell phone. I signed him up for Medicare and told him to talk to the man on the phone and answer his questions. I will help him sign up for social security in Jan. I show him the calculators (firecalc etc.). He left it all up to me. I could have a secret Cayman account and he would not know. But we trust each other after 40+ years. And he complains that grapes went up .10 in the grocery store.
I also review tax returns for AARP as a volunteer. This is a new learning process for me. And now I'm thinking why did we pay an accountant all these years

Ben Franklin described a man with a financially savvy wife. I believe he said “She became a fortune to him”.

 

[Texas Proud]

I think you are smart to do what you did. I did not know that Vanguard had any offices outside of their headquarters.

I have helped a number of relatives and friends open accounts with Fidelity and Schwab. Initially it was the higher CD rates that sparked their interest. However, I was not excited to think that every time they ran into a problem or question they might call me. So, I wanted them to have an office they can walk into with a person who could help them. Vanguard has few offices so Fidelity and Schwab came out ahead.

Same with me... did not know they had offices...


Have accounts at Schwab and Fidelity with Schwab being the one with the better FA for DW...

 

[teej1985]

Unless you have some major big bucks, I doubt Vanguard will be meeting with people in person in Scottsdale. It's primarily a call center/corporate location. Vanguard doesn't have retail storefronts like Fidelity or Schwab.

 

[Willers]

I guess I'll give them a call and check on the availability of a meeting. I'd be surprised if they set up an facility in Scottsdale as just a call center and office. That would definitely not be a cost-effective location for those purposes. I'll see what they say.

If that isn't an option is might be time to take another look at Fido and Schwab. I've had accounts at both and consolidated away from them. Maybe it is time to move back.

 

[RunningBum]

I guess I'll give them a call and check on the availability of a meeting. I'd be surprised if they set up an facility in Scottsdale as just a call center and office. That would definitely not be a cost-effective location for those purposes. I'll see what they say.

If that isn't an option is might be time to take another look at Fido and Schwab. I've had accounts at both and consolidated away from them. Maybe it is time to move back.

Prepare to be surprised. Take a look at the facility on google maps and use street view. There are gates to the parking lot at all road entrances.

I'd guess they have this facility for west coast hours, and also to attract people who don't want to work in PA or NC. They also probably don't want everyone at one facility, in case of some kind of disaster, or even just a heavy snow that keeps people from being able to get to that office.

 

[TheWizard]

Vanguard is simply NOT a financial advisory service.
If you somehow "need" a financial advisor, then find an independent one who allows you to keep investing with Vanguard.

Vanguard answers occasional emails just fine. For instance, I wanted to fund my son's Roth IRA so they sent me a PDF form for that purpose with proper account numbers...

 

[Willers]

Vanguard is simply NOT a financial advisory service.
If you somehow "need" a financial advisor, then find an independent one who allows you to keep investing with Vanguard.

Vanguard answers occasional emails just fine. For instance, I wanted to fund my son's Roth IRA so they sent me a PDF form for that purpose with proper account numbers...

I get that, but I'm not looking at this for her as an advisory service, but rather as the option to have a real person walk her through the account consolidation and instruct her on how to navigate in their system at a time when she maybe misses me a bit and would like someone in person to make it easier for her.

They offer the VPA for investing advice. That's a different animal and not what I'm discussing her.

She could, of course, handle everything by phone or email, but so can a Schwab or Fidelity customer. They sometimes like having a branch so there is a real person they can talk to. I'm just exploring if this is an option for her.

If she wants a dedicated financial advisor I doubt I'd go to any of the big three for that. I'd rather she use a fee/hour advisor like Ferri.

 

[Texas Proud]

Vanguard is simply NOT a financial advisory service.
If you somehow "need" a financial advisor, then find an independent one who allows you to keep investing with Vanguard.

Vanguard answers occasional emails just fine. For instance, I wanted to fund my son's Roth IRA so they sent me a PDF form for that purpose with proper account numbers...

Slightly wrong... they DO have financial advisory services, just not face to face...



They have been pushing their services to me for awhile now... I just ignore them...

 

[Aerides]

I'd be surprised if they set up an facility in Scottsdale as just a call center and office.

Back some years ago, Scottsdale offered $1 annual leases to a lot of big names to encourage development - and jobs/taxes that would come to the area. BIG companies. That made it very cost effective.

 

[Willers]

Back some years ago, Scottsdale offered $1 annual leases to a lot of big names to encourage development - and jobs/taxes that would come to the area. BIG companies. That made it very cost effective.

Wow, yeah. That would definitely change the economics of that decision!

 

[OldShooter]

@Willers, I believe that the name over the door is much less important than the individual relationship you want to create. I suggest calling the office and talking to the branch manager. Have organized in your head the kind of person you prefer: age, sex, investment interest, years of experience, personality, etc. Then ask if he/she can set you up to talk to at least two of their best candidates.

When you have names, go here https://brokercheck.finra.org/ and see what you can learn.

 

[Willers]

@Willers, I believe that the name over the door is much less important than the individual relationship you want to create. I suggest calling the office and talking to the branch manager. Have organized in your head the kind of person you prefer: age, sex, investment interest, years of experience, personality, etc. Then ask if he/she can set you up to talk to at least two of their best candidates.

When you have names, go here https://brokercheck.finra.org/ and see what you can learn.

Sorry all, I'm probably stating this in a way that is suggesting a financial planner relationship with Vanguard. The vast majority of our accounts are with Vanguard so the name on the door is required for the information she'd need for what we are discussing.

This visit to the office, if available, would be about having an in-person meeting to transfer accounts, explain how to deposit/withdraw, what accounts will be in place afterward and answer any questions she has in using the accounts. Just handholding through the post-death consolidation of IRA's, step-up basis of brokerage accounts, etc. I'm not looking for financial planning advice for her in this interaction with Vanguard.

Our CPA will handle tax planning and we'll look into a separate financial planning relationship if she wants that.

 

[Aerides]

This visit to the office, if available, would be about having an in-person meeting to transfer accounts, explain how to deposit/withdraw, what accounts will be in place afterward and answer any questions she has in using the accounts. Just handholding through the post-death consolidation of IRA's, step-up basis of brokerage accounts, etc. I'm not looking for financial planning advice for her in this interaction with Vanguard.

Have you called them to see if that's a service they offer in person there? In my area I don't think I've ever seen a vanguard office, only Fido.

 

[Willers]

Have you called them to see if that's a service they offer in person there? In my area I don't think I've ever seen a vanguard office, only Fido.

Since nobody seems to have any experience with this, yes I plan to call them. If this is actually available I might even visit (we might be in the area this year) to see what is there and report back.

 

[OldShooter]

Sorry, I didn't mean to imply anything more than you asked, but there is still no reason to walk in and accept whomever is "up" on the customer visit rotation.

I would tell the branch manager exactly this:

... This visit to the office, if available, would be about having an in-person meeting to transfer accounts, explain how to deposit/withdraw, what accounts will be in place afterward and answer any questions she has in using the accounts. Just handholding through the post-death consolidation of IRA's, step-up basis of brokerage accounts, etc. I'm not looking for financial planning advice for her in this interaction with Vanguard. ...

There are certainly some people in that office who are better than others at this.

 

[Willers]

Sorry, I didn't mean to imply anything more than you asked, but there is still no reason to walk in and accept whomever is "up" on the customer visit rotation.

I would tell the branch manager exactly this:



There are certainly some people in that office who are better than others at this.

No problem, it is all good. :cheers:

 

[Willers]

OK, so I did call VG and no, there is no in-person staff available to customers at their offices. The are administration, etc. only.

The bright side is that, once I worked through the maddening automated phone menus, a rep answered the phone within 20 seconds.