Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Horrendous customer service at Vanguard
Old 02-03-2023, 04:38 AM   #1
Full time employment: Posting here.
 
Join Date: Dec 2016
Posts: 959
Horrendous customer service at Vanguard

I've had no experience with Vanguard as all my accounts are at Schwab. Love Schwab!


Unfortunately , my nieces dad died a few months ago and one of the accounts he had was with Vanguard. A traditional IRA and a Roth IRA. Each niece gets 50%.


To make an extremely long story short we were instructed to first open up an inherited IRA and inherited Roth IRA with Vanguard and the money could move to those accounts and then we could transfer to Schwab. The long hold time , the almost inability to get a live person, the unbelievable clunkiness of the website, but then followed by an agent that seemed confused was something I never experienced. For whatever reason we were still not able to open the accounts after being on phone for three hours...really don't know what to do... theres 200k total of funds and we want this done...anyone have a by any chance a contact at vanguard in the service area or any advice on how to resolve? my anxiety ridden nieces were almost in tears......thank you very much....
__________________
Retired 1/6/2017 at 50 years old
Immensely grateful


“The most important quality for an investor is temperament, not intellect.”—Warren Buffett
FREE866 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-03-2023, 04:50 AM   #2
gone traveling
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 34,002
Your only option is to keep trying via phone and hope that on a call you get a good CSR. Or if the CSR you are talking to can't make it happen ask for a supervisor or more experienced CSR.

Many of us have had similar experiences and are no longer at Vanguard as a result. I remember way back when, I had "a guy" at Vanguard that I could call if the normal channels would not work, but those days are long gone.

I have Schwab and Fidelity as well and these days they are much better than Vanguard. I have a "gal" at Schwab that when I call she actually answers the phone. Amazing in comparison to Vanguard.
pb4uski is offline   Reply With Quote
Old 02-03-2023, 04:57 AM   #3
Full time employment: Posting here.
 
Join Date: Dec 2016
Posts: 959
Quote:
Originally Posted by pb4uski View Post
Your only option is to keep trying via phone and hope that on a call you get a good CSR. Or if the CSR you are talking to can't make it happen ask for a supervisor or more experienced CSR.

Many of us have had similar experiences and are no longer at Vanguard as a result. I remember way back when, I had "a guy" at Vanguard that I could call if the normal channels would not work, but those days are long gone.

I have Schwab and Fidelity as well and these days they are much better than Vanguard. I have a "gal" at Schwab that when I call she actually answers the phone. Amazing in comparison to Vanguard.

Thank you pb......yeah, yesterday was one of those customer experiences that just emotionally drained me and left me feeling numb....just maddening.......I live in NYC and am actually considering driving to the headquarters in Malven , PA..they dont have any storefronts in NYC.......I won't but I swear part of me feels I might have to....and I LOVE Schwab....Will be calling back today.....
__________________
Retired 1/6/2017 at 50 years old
Immensely grateful


“The most important quality for an investor is temperament, not intellect.”—Warren Buffett
FREE866 is offline   Reply With Quote
Old 02-03-2023, 04:59 AM   #4
Thinks s/he gets paid by the post
DrRoy's Avatar
 
Join Date: Dec 2015
Location: Michigan
Posts: 4,259
Sorry that happened at such a bad time.
__________________
"The mountains are calling, and I must go." John Muir
DrRoy is offline   Reply With Quote
Old 02-03-2023, 05:16 AM   #5
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Posts: 1,520
Quote:
Originally Posted by FREE866 View Post
... For whatever reason we were still not able to open the accounts after being on phone for three hours...
"For whatever reason" isn't an adequate explanation for your inability to open the new accounts. The next time around you might want to ask for a clear explanation of the problem.

Vanguard might be swamped with 1099-related questions these days. The above-average call volume may last through April. You may need to be patient.
socca is offline   Reply With Quote
Old 02-03-2023, 05:43 AM   #6
Full time employment: Posting here.
 
Join Date: Dec 2016
Posts: 959
Quote:
Originally Posted by socca View Post
"For whatever reason" isn't an adequate explanation for your inability to open the new accounts. The next time around you might want to ask for a clear explanation of the problem.

Vanguard might be swamped with 1099-related questions these days. The above-average call volume may last through April. You may need to be patient.
The gave me a long convoluted reason but I chose not to bore people with the details as the rep was even baffled. Whether it’s the system or a bad rep , me the customer shouldn’t have to be on the phone for three hours.
“ above average call volume”. Hahaha. Love when companies pull that card. They make it standard messaging as a defense to defend bad service.
FREE866 is offline   Reply With Quote
Old 02-03-2023, 05:58 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
MRG's Avatar
 
Join Date: Apr 2013
Posts: 10,936
Whenever you get poor service at Vanguard or any other fund company, ask for their supervisor. I spent years in the back offices of these organizations, and it's how you make yourself heard, get your stuff done, and its a way to identify training opportunities.

To piggyback on, this is tax season. You're going to wait.
MRG is offline   Reply With Quote
Old 02-03-2023, 07:26 AM   #8
Recycles dryer sheets
 
Join Date: Jun 2013
Posts: 294
OP, sorry to hear about yet another poor CSR experience with VG. Like so many others here I have fond memories, but this is the final straw for me. Just initiated the transfer of two rollovers, a SEP, and a Roth. My 401k will stay there for now, but I'm otherwise done. Sad day, but thanks for the inspiration.
HenryD is offline   Reply With Quote
Old 02-03-2023, 08:07 AM   #9
Full time employment: Posting here.
RetiredAt55.5's Avatar
 
Join Date: May 2017
Location: Southeastern PA
Posts: 731
Quote:
Originally Posted by FREE866 View Post
Thank you pb......yeah, yesterday was one of those customer experiences that just emotionally drained me and left me feeling numb....just maddening.......I live in NYC and am actually considering driving to the headquarters in Malven , PA..they dont have any storefronts in NYC.......I won't but I swear part of me feels I might have to....and I LOVE Schwab....Will be calling back today.....
IIRC, you can't just show up to Malvern to get in person service.

They used to have a public service center on site but that was closed many years ago.

Not sure if you can make an appointment to see someone, but please don't just show up at the main gate and expect to get in.
RetiredAt55.5 is offline   Reply With Quote
Old 02-03-2023, 08:09 AM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2014
Posts: 6,459
Quote:
Originally Posted by RetiredAt55.5 View Post
IIRC, you can't just show up to Malvern to get in person service.

They used to have a public service center on site but that was closed many years ago.

Not sure if you can make an appointment to see someone, but please don't just show up at the main gate and expect to get in.
I had that thought, too. Major companies no longer have a receptionist out front- they have security guards and may not let you in if you don't have an appointment. If you press your point they may decide you're a threat to public safety and call the police. Sad but true.

I'm really sorry to read this- Vanguard had such a good reputation for so many years. Dad died in late 2021 and had everything at Fidelity- everything got moved pretty quickly into separate accounts for the 5 of us although they did mess up and put stocks from his after-tax account into my checking account. Who does that? I was able to transfer it to my investment account on-line with no humans involved.
athena53 is offline   Reply With Quote
Old 02-03-2023, 08:27 AM   #11
Thinks s/he gets paid by the post
 
Join Date: Aug 2007
Posts: 2,522
When I dealt with an inherited IRA years ago at Vanguard, I was transferred to a group that specializes in dealing with deceased account transfers. I found this to be true at most (all?) the financial companies that I dealt with.

I wonder if Vanguard still has a group like that and if you could get transferred to them. When calling, I would ask to be transferred to a group handling deceased accounts and see what happens. If you do get transferred, I would also ask for a direct number in case you have to call back.

Otherwise, I would request to talk to a supervisor.

Keep in mind that there are good reps at Vanguard. I called them a couple of weeks ago and the experience was fine. It’s just a crapshoot on who picks up the phone.

Good luck and condolences to your family!
__________________
Eat, Drink and Be Merry.
tulak is offline   Reply With Quote
Old 02-03-2023, 08:49 AM   #12
Dryer sheet aficionado
 
Join Date: Jan 2017
Posts: 26
Crapshoot? And you trust them with your money?
theo2 is offline   Reply With Quote
Old 02-03-2023, 09:49 AM   #13
Recycles dryer sheets
 
Join Date: Dec 2022
Location: Glassboro
Posts: 87
Quote:
Originally Posted by tulak View Post
When I dealt with an inherited IRA years ago at Vanguard, I was transferred to a group that specializes in dealing with deceased account transfers. I found this to be true at most (all?) the financial companies that I dealt with.

I wonder if Vanguard still has a group like that and if you could get transferred to them. When calling, I would ask to be transferred to a group handling deceased accounts and see what happens. If you do get transferred, I would also ask for a direct number in case you have to call back.

Otherwise, I would request to talk to a supervisor.

Keep in mind that there are good reps at Vanguard. I called them a couple of weeks ago and the experience was fine. It’s just a crapshoot on who picks up the phone.

Good luck and condolences to your family!

I like this approach and would love to hear a follow up on your issue if you move in this direction.

I have a mid size position with Vanguard in Roth and Brokerage account.
I was/am considering moving a much larger 401K position to Vanguard for simplicity.
However, after reading to many negative comments about Vanguard CS and no walk in office, I will strongly consider other options (Fidelity)?

Sorry to hear of your troubles.
Healthy Lifestyle is offline   Reply With Quote
Old 02-03-2023, 09:58 AM   #14
Moderator
 
Join Date: Jul 2017
Location: Long Island
Posts: 3,588
How about contacting Schwab. Ask if you toddle on down with an original death certificate, your two nieces, and the Vanguard account info, whether they can open the inherited accounts there (although empty) and drag the funds out of Vanguard?

I found Schwab/TD to be very effective extracting funds . . .
__________________
Use it up, wear it out, make it do or do without.
MarieIG is offline   Reply With Quote
Old 02-03-2023, 10:32 AM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 15,488
We were able to open the accounts for inheritance at Vanguard online, no phone needed.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline   Reply With Quote
Old 02-03-2023, 10:46 AM   #16
Full time employment: Posting here.
 
Join Date: Dec 2016
Posts: 959
Can't respond to all the responses, but thank you all very much......


calling again at 2 pm today.....need to meditate beforehand
__________________
Retired 1/6/2017 at 50 years old
Immensely grateful


“The most important quality for an investor is temperament, not intellect.”—Warren Buffett
FREE866 is offline   Reply With Quote
Old 02-03-2023, 01:20 PM   #17
Thinks s/he gets paid by the post
 
Join Date: Nov 2006
Posts: 1,410
We're going through the same thing with FIL's account. DW and SIL are 50/50 beneficiaries of his one brokerage account (3 funds).

Try #1 Online. Got all the way through the submit button 3 times and always got a "sorry, please call this number"

Try #2 Talked to a guy in the "Account Transfers" department that specializes in inheritances. He walked us through the online process and it still didn't work. He was able to set up the account for DW and he said to email the death certificate and all will be well.

Try #3. I just didn't feel right about what guy #2 said, so a couple of days after mailing the death certificate, we called to make sure they got it. Sure enough, Girl #3 couldn't find anything and didn't know why Guy#2 did it the way he did. So, she had DW do "forms" online using docusign. She said to check the new account in 10 business days and see if the money shows up.

I imagine we'll be dealing with Guy/Gal #4 in a couple of weeks to start over. Also, we'll have to go through the same process with SIL, since she can't do any of this stuff herself (another issue!).

T Rowe Price was excellent. One phone call. Three days later logged on to new account and funds were there. Basis was right too!
PatrickA5 is offline   Reply With Quote
Old 02-03-2023, 02:03 PM   #18
Recycles dryer sheets
 
Join Date: Nov 2022
Location: Austin
Posts: 155
After multiple wrong answers on a SEP-IRA, I finally gave up and opened them elsewhere. It's sad to see such a great company fall apart.
Echard is offline   Reply With Quote
Old 02-03-2023, 02:13 PM   #19
Recycles dryer sheets
 
Join Date: Aug 2020
Posts: 173
Quote:
Originally Posted by MRG View Post
Whenever you get poor service at Vanguard or any other fund company, ask for their supervisor. I spent years in the back offices of these organizations, and it's how you make yourself heard, get your stuff done, and its a way to identify training opportunities.

To piggyback on, this is tax season. You're going to wait.
I've actually tried to do that - sometimes it works. But there have been times the rep puts me on hold, then gives the phone to someone else who claims to be a "supervisor", but is really just another call center rep. (Which I find out later, when I document the calls and mention that I spoke with a supervisor and was told I didn't.) Note: this wasn't at Vanguard...I'm just talking about csr experiences I've had in general.

These are the types of games call centers now play these days.
FindingForward is offline   Reply With Quote
Old 02-03-2023, 03:39 PM   #20
Full time employment: Posting here.
 
Join Date: Dec 2016
Posts: 959
Well, today was much better than yesterday thankfully. Rep attributed issue to quirks in system, but overnighting hard copy application for some reason and them in putting on their end should start pushing the ball forward. Didn't fully makes sense, but whatever. Thx again for your replies.
__________________
Retired 1/6/2017 at 50 years old
Immensely grateful


“The most important quality for an investor is temperament, not intellect.”—Warren Buffett
FREE866 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Customer Service Experience Vanguard vs. Schwab and Fido kevink FIRE and Money 65 02-04-2021 05:11 PM
Better customer service: Vanguard or Fidelity? LXEX55 FIRE and Money 61 06-02-2019 10:43 AM
Why vanguard's expenses are so cheap, lousy customer service/hidden fees Olav23 FIRE and Money 57 03-18-2007 05:20 AM
Vanguard Customer Service Story yakers Other topics 12 08-17-2006 01:10 PM
Fidelity vs vanguard customer service Roger_R FIRE and Money 9 07-01-2004 06:21 PM

» Quick Links

 
All times are GMT -6. The time now is 02:55 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2023, vBulletin Solutions, Inc.