Horrendous customer service at Vanguard

[FREE866]

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....

 

[pb4uski]

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.

 

[FREE866]

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.....

 

[DrRoy]

Sorry that happened at such a bad time.

 

[socca]

... 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.

 

[FREE866]

"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.

 

[MRG]

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.

 

[HenryD]

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.

 

[RetiredAt55.5]

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.

 

[athena53]

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.

 

[tulak]

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!

 

[theo2]

Crapshoot? And you trust them with your money?

 

[Healthy Lifestyle]

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.

 

[MarieIG]

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 . . .

 

[Sunset]

We were able to open the accounts for inheritance at Vanguard online, no phone needed.

 

[FREE866]

Can't respond to all the responses, but thank you all very much......


calling again at 2 pm today.....need to meditate beforehand

 

[PatrickA5]

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!

 

[Echard]

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.

 

[FindingForward]

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.

 

[FREE866]

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.

 

[theo2]

They must have read this thread! LOL

 

[Car-Guy]

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.

Schwab's CS has always been good/great and I've been with them 40+ years now... But they are certainly far from prefect... Example, "my latest gripe" is when I do a ACH transfer from them to my bank it happens overnight... (Good thing) However, when I do a ACH transfer from my bank to them, it's ~4 business days before I have access to my money. Difference in banking policies between the two financial institutions.

 

[jgrdarrash]

Similar happened to my mother when Dad died in 2021. She called VG and left multiple voicemails about moving money to Fidelity who she prefers. No call backs. She finally lied to VG and said she wanted to move money to them and she gets a callback. I'll be sticking with Fidelity.

 

[trumpeting_angel]

This worries me, as I have been (and still am) 100% in Vanguard. I’ve never really had serious problems with it, although my last big move (opening an inherited IRA) was many years ago. I hate the idea of moving everything; Vanguard was, well, the vanguard in index funds and did great things. I suppose it just got too big, although that has been true for quite some time, and they should have fixed things by now.

 

[nwsteve]

When it comes to moving accounts I found Fido has what for me at least is new on line function that allows you arrange for them to transfer accounts from other brokerages/agents to them. In our case, DW inherited shares that were held at Computershare.
You find the Fido form on their site by searching "transfer shares", complete the form and use the link to upload copy of your most recent statement. Fido then takes over. They also provide the ability to track the status of the transfer on line.