Horrendous customer service at Vanguard

Leaving Vanguard. Looking for better customer service.

My experience is Vanguard's Customer Service has gone downhill over the years. I used to be able to call up my assigned representative directly and he answered the phone, and I also had an advisor for investing questions (complementary). Now that they've recently converted their business to a brokerage firm, I find it even harder to get a real person on the phone without a long hold and several transfers.

Many people consider Schwab and Fidelity the comparable favorites. I like them too, but I'm also interested in expanding the net even wider to research additional brokerages that aren't just sales people. Does your brokerage firm have great customer service?based on your own personal experience?
 
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kgtest said:
When I call Vanguard, I always get a representative right away. They have treated me like royalty. I actually find there customer service to be best in class. Interesting that you had the opposite experience.

My DS opened inherited IRAs for my late sister's estate without issues. It was actually betterment that she had the issue with. They gave a similar experience you are describing of Vanguard. Maybe it depends on how well the person you are dealing with has been trained.
orbops said:
Have you called Vanguard in the last 18 months?
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My question as well. I’ve always searched online to find answers myself first. When I couldn’t, Vanguard used to be great with a Flagship representative. Then they started to change reps often, less knowledgeable. Then calls were fielded by a no name team who knew less, but eager to try to help. Now once you find their well hidden number, when you finally get through, you talk to a ‘stupid question screener’ who can’t answer any question. Once they’ve quickly exhausted their utility, you get to hold for 10-60 minutes or opt for a call back from someone who may or may not have an answer. You always get a satisfactory answer eventually, but they couldn’t make it any harder. And I call with a question less than once a year. YMMV

IF it was easy to find answers online, I would be fine with Vanguards current customer non service, but it’s decidedly not for anything beyond basic questions. e.g. I was just trying to find out what transactions fall under 7 day hold, and which don’t - couldn’t find anything useful. So I sent a message, we’ll see what I get back, it’s been 48 hours so far…
 
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I am following this post, Most of my investments are at Fido but have accounts at Edwards and Vanguard i would like to combine and move. I also not impressed anymore with VG customer service or lack of.
 
One reason you'll hear Schwab, Fidelity, and Vanguard referred to as the big three is their anti-fraud guarantee. Make sure you're not losing valuable protection for a cheerful person.

The folks at American Funds always brag about how they treat their investors, you'll throw away fraud protection.
 
I like the service at Vanguard and Fido where I have accounts. They are not the same, but the differences are minor for me as I don't require much from either one. I value trust over immediate service so I may have different requirements in a brokerage.

VW
 
Midpack said:
My question as well. I’ve always searched online to find answers myself first. When I couldn’t, Vanguard used to be great with a Flagship representative. Then they started to change reps often, less knowledgeable. Then calls were fielded by a no name team who knew less, but eager to try to help. Now once you find their well hidden number, when you finally get through, you talk to a ‘stupid question screener’ who can’t answer any question. Once they’ve quickly exhausted their utility, you get to hold for 10-60 minutes or opt for a call back from someone who may or may not have an answer. You always get a satisfactory answer eventually, but they couldn’t make it any harder. And I call with a question less than once a year. YMMV

IF it was easy to find answers online, I would be fine with Vanguards current customer non service, but it’s decidedly not for anything beyond basic questions. e.g. I was just trying to find out what transactions fall under 7 day hold, and which don’t - couldn’t find anything useful. So I sent a message, we’ll see what I get back, it’s been 48 hours so far…
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When I transferred fund over to Vanguard - I was able to buy Vanguard funds immediately, but could not withdraw money or buy T-bills. I tried to buy a T bill.

(I want to say that I was limited to buying Vanguard products, but am not sure that I am remembering this correctly. After I wrote to Vanguard about the hold, a canned message showed up on the screen explaining the hold.)
 
I've been with Fido for over 40 years. Always had good service.
 
Brook2 said:
My experience is Vanguard's Customer Service has gone downhill over the years. I used to be able to call up my assigned representative directly and he answered the phone, and I also had an advisor for investing questions (complementary). Now that they've recently converted their business to a brokerage firm, I find it even harder to get a real person on the phone without a long hold and several transfers.
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I understand your issue with VG. We had the same personalized service years ago but our assigned rep was very basic as far as his advice. That advice was great and we had lengthy discussions. But now, we're at the stage where we know what we want as far as diversification, how our tIRA is set up, what stock funds to keep, etc. We're staying 50% in stock mutual funds. A rep would have tried to talk us out of selling our bond funds to move to CD, treasury ladders.

The bond desk is super busy, understandably these days. I have no problem waiting for a call back from a specialized bond trader. They've helped me so much and once I reached them, they spend as much time as needed until I understood this massive change in our strategy. They are the nuts and bolts and not trying to strategize with me. I want this ladder, with this interest and coupon cash flow.

We no longer need someone explaining diversification or best funds etc. I know how to research that stuff myself. Frankly, this forum helps more than a rep at VG. VG is a brokerage company that helps me do what I want. We're not beginners anymore.
 
MRG said:
One reason you'll hear Schwab, Fidelity, and Vanguard referred to as the big three is their anti-fraud guarantee. Make sure you're not losing valuable protection for a cheerful person.

The folks at American Funds always brag about how they treat their investors, you'll throw away fraud protection.
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Curious, is Merrill Edge considered the big four on this list and would you consider ME brokerage as an option?
 
I dont have to call much anymore but when i call VG I NEED to talk to someone. Its been hard to get a live person lately.
 
Maybe the mods will combine this thread with the other current one so we all don’t have to repeat our comments.
 
Markola said:
Maybe the mods will combine this thread with the other current one so we all don’t have to repeat our comments.
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A good idea, and it has been done.
 
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Gumby said:
A good idea, and it has been done.
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I'm OK with that except my goal is not to vent about VG. I'm actually asking about a wider net of options to look into and (even even beyond Scwab and Fidelity), where people have actually experienced great customers service. I probably should have not put VG in the title when I posted.
 
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Healthy Lifestyle said:
Curious, is Merrill Edge considered the big four on this list and would you consider ME brokerage as an option?
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They do have similar verbiage to the other providers. Buddy of mine did business with Merrill. He is a big roller who is still happy with them. I'm not familiar with their products or services, so 5 minutes of research and a few lunchtime conversations is my extent of knowledge.
 
orbops said:
Have you called Vanguard in the last 18 months?
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10 days ago. Very good service though I spoke to a person who was obviously not English-as-first-language person. I had to have her repeat a few things, but she was gracious to a fault. Accomplished my mission in total of less than 15 minutes from first ring to last goodbye. YMMV
 
A bit off/topic….just loaded VG app. It is super basic. Not much functionality compared to Fido but at least they have mobil check deposit which is what I need.
 
I had the same issue with T. Rowe Price when my father passed away. Extremely frustrating for something that should be simple.
 
DW finally got her $2.5K life insurance check from AIG. Only took 10 weeks of constant attempts. VG was really bad, but they were great compared to AIG. On the bright side, they did pay $3.87 in interest for our troubles.
 
Brook2 said:
I'm OK with that except my goal is not to vent about VG. I'm actually asking about a wider net of options to look into and (even even beyond Scwab and Fidelity), where people have actually experienced great customers service. I probably should have not put VG in the title when I posted.
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I started using a 'Fidelity Brokerage Link' in my 401K about a year ago. I am very impressed with the quick answers, no hold-time service I get. I'm not used to it. I feel spoiled !
 
For me:

Pro's: The VG index funds and also the VINEX somewhat active international small fund. I like the behavior of these funds in my investment approach. Backtesting, I don't find better choices. I think it would be more costly to use Schwab and Fido to access these funds.

Con's: I agree the service sucks nowadays. Probably goes along with all the recent turmoil in delivery and services (slow,slow, slow). The economy is peddle to the metal (low unemployment) and there is not enough gas in the tank.

Also the revamp of the VG web site has more con's then I like. Probably will get fixed someday :rolleyes:
 
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