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-   -   Vanguard Notice About Fund Only Platform (https://www.early-retirement.org/forums/f28/vanguard-notice-about-fund-only-platform-104021.html)

easysurfer 05-26-2020 08:09 AM

Vanguard Notice About Fund Only Platform
 
1 Attachment(s)
I just got another email from Vanguard asking to make the transition away from Mutual Funds only to the "new and improved" :blush: investment platform.

At least now there is a year of 2022 or sooner to retire the old platform.

I'm still loitering and lingering until the deadline comes closer as funds area all I need. Index investing and rebalance once a year. Don't need the fancy stuff :).

W2R 05-26-2020 08:18 AM

Wow, I thought the year they were going to force it was 2020! If it was me, and they told me 2022, I wouldn't do it yet.

After many such emails I got suckered into making the change to a brokerage account last year. When you log in the interface looks the same, and isn't too hard to figure out, but there are a few minor differences that I don't like (such as having to keep a low interest rate money market settlement account, even though I already had Prime Money Market).

target2019 05-26-2020 08:24 AM

We are also clinging to the past, and will transition on the 5th of never. Okay, I get it, they will force it on us at some time.

easysurfer 05-26-2020 08:26 AM

Quote:

Originally Posted by target2019 (Post 2434855)
We are also clinging to the past, and will transition on the 5th of never. Okay, I get it, they will force it on us at some time.

Yep, I'm waiting until I get run out of the building :popcorn:.

REWahoo 05-26-2020 08:29 AM

You will be assimilated...

https://www.youtube.com/watch?v=yhfMMP_jx-Q

MRG 05-26-2020 08:43 AM

Probably saves them, us, 10 million every year in maintenance and support costs. Besides this allows the development team to focus on the future instead 35 year old code.

ETA: Of course this could related to third-party software they utilized in the application. If product X release Y goes out of support a responsible vendor will make sure they're able to support their customers needs. It's quite possible to code yourself into a corner when a third party solution goes away.

easysurfer 05-26-2020 08:45 AM

Quote:

Originally Posted by MRG (Post 2434865)
Probably saves them, us, 10 million every year in maintenance and support costs. Besides this allows the development team to focus on the future instead 35 year old code.


Probably all true.

But I just don't like instant replay with baseball.

target2019 05-26-2020 08:46 AM

Quote:

Originally Posted by easysurfer (Post 2434856)
Yep, I'm waiting until I get run out of the building :popcorn:.

Waiting will give me time to decide if I really want 4 Vanguard brokerage accounts...with 4 additional money funds. Maybe I'm wrong about that?

Texas Proud 05-26-2020 08:53 AM

Quote:

Originally Posted by target2019 (Post 2434868)
Waiting will give me time to decide if I really want 4 Vanguard brokerage accounts...with 4 additional money funds. Maybe I'm wrong about that?


I think I got 8 or 9 different ones...




The other BIG problem that I have is statements... I am old fashion and want paper for annual statements but that is (or at least was) not an option... before, I had only one brokerage account and the rest on the old platform... I got a consolidated stmt for all accounts and they had a total for them all.


Now, I get a stmt for each account! I called to get my consolidated back and they are sending something but it is not the same.... so when stmt time I get a bunch of paper stmts that are useless...


BTW, you can keep the Prime MM account, it is just not your sweep account anymore...

easysurfer 05-26-2020 09:37 AM

My hope is that when 2022 rolls around I'll get another email telling me to convert before the old way of doing things gets retired in around a few years after that :laugh:.

Hasn't the request to kick people out and move to the new way been going on for about 4 years now?

target2019 05-26-2020 09:47 AM

Quote:

Originally Posted by easysurfer (Post 2434887)
My hope is that when 2022 rolls around I'll get another email telling me to convert before the old way of doing things gets retired in around a few years after that :laugh:.

Hasn't the request to kick people out and move to the new way been going on for about 4 years now?

Probably at least 4 years, maybe more.

A thought I had was how our positive interactions with a competitor (Schwab) during this time has left me wondering if the Vanguard brokerage experience will leave me frustrated? Only time will tell, I suppose.

I will definitely leave 2 out of 4 accounts at Vanguard. But 2 others can be eliminated or consolidated elsewhere.

W2R 05-26-2020 10:10 AM

Quote:

Originally Posted by Texas Proud (Post 2434871)
BTW, you can keep the Prime MM account, it is just not your sweep account anymore...

Obviously they don't obliterate Prime MM when you make the big transition. So lucky me, every time any money goes into or out of my VMFXX ("Federal MM Fund", = settlement MM) account, I have to log into Vanguard and manually transfer that money to or from Prime MM if I want the slightly better interest rate it provides. >:( It's just so annoying.

Markola 05-26-2020 10:12 AM

I made this change years ago when they first requested it and donít understand what the big deal is for some. All companies their websites constantly, which is all this change feels like to me. It hasnít cost me any money that I know of.

W2R 05-26-2020 10:13 AM

Quote:

Originally Posted by easysurfer (Post 2434887)
My hope is that when 2022 rolls around I'll get another email telling me to convert before the old way of doing things gets retired in around a few years after that :laugh:.

Hasn't the request to kick people out and move to the new way been going on for about 4 years now?

At least 4 years. And they always make it seem so urgent. My guess is that your hope will become your reality in 2022.

Gumby 05-26-2020 10:27 AM

I still have the traditional Vanguard accounts, and I am unwilling to switch until I find out what the catch is. I am like Danny Moses in Michael Lewis' book "The Big Short"

Quote:

When a Wall Street firm helped him to get into a trade that seemed perfect in every way, he asked the salesman, ďI appreciate this, but I just want to know one thing: How are you going to f*** me?Ē

Heh-heh-heh, címon, weíd never do that, the trader started to say, but Danny, though perfectly polite, was insistent.

We both know that unadulterated good things like this trade donít just happen between little hedge funds and big Wall Street firms. Iíll do it, but only after you explain to me how you are going to f*** me. And the salesman explained how he was going to f*** him. And Danny did the trade.

jollystomper 05-26-2020 10:39 AM

I had already performed this action on my tIRA to allow direct transfer to a new Roth IRA, so no big deal in my view. I received the notice for my taxable account and already performed the transition. I have not noticed anything different, and it is one less thing for me to be "nagged" about. :)

They are better than Fidelity,.I still have to call to transfer funds from my tIRA to Roth IRA because my tIRA account is "too old (likely meaning non-brokerage) so I cannot do online transfers. No indication from them yet that anything can be done about it (though in truth I have not raised a fuss about it).

target2019 05-26-2020 10:42 AM

;)
So we have another line of demarcation. Those that transitioned willingly, and those of us who are like Danny Moses.

Scrapr 05-26-2020 11:56 AM

Quote:

Originally Posted by easysurfer (Post 2434866)
Probably all true.

But I just don't like instant replay with baseball.

what are your feelings on the Designated Hitter? ;D

easysurfer 05-26-2020 12:13 PM

Quote:

Originally Posted by Scrapr (Post 2434944)
what are your feelings on the Designated Hitter? ;D

Nope. I want pitchers to bat.

Back to the Vanguard thing. IMO, asking me to switch to the new method I compare to as if I'm a left-handed hitter asked to be a switched hitter. Why should I switch if I'm totally content batting on one side. Sure, there may be some advantages for some folks, but I'm happy just being who I am.

Onward 05-26-2020 12:54 PM

Quote:

Originally Posted by Markola (Post 2434912)
I made this change years ago when they first requested it and donít understand what the big deal is

+1


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