Vanguard - last straw?

[JoeWras]

I'm on the brokerage platform. I can put in a limit order and cancel it later, as long as nobody grabbed it.

But the reason I'm annoyed is that sometimes I get the lipstick on a pig version of the web site, and sometimes I get the traditional, comfortable version.

I think I understand why companies feel compelled to constantly tweak their web presence... it's because of people that think "oh, modern look, must not be COBOL" hehehe

It's bad enough they're all changing their pages all the time, but just do it and get it over with!

I notice every change, even the slightest changes, because it breaks my page scraper. So now I have added lipstick logic, which might be the last straw.

Their UI has been undergoing a slow roll change for about 3 years now. In the last 4 weeks or so, they have been moving people in chunks to an even newer UI. If you haven't gotten it yet, you're in for a surprise (not necessarily in a good way either).

But just as you say, Sengsational, even if you get the newest of the new UIs, click on a link for something and there's a good chance you get thrown into the old user experience.

I'd say this is one of the poorest website changes I've ever seen.

 

[Graybeard]

When I go to Vanguard I see a mixture of old and new formats. The worst is when I look at a mutual fund, I just did that to see the interest rate of the Money Market Fund. Balances and holdings changed yesterday from the old to the new format but honestly that new format is not a problem. When I look at or buy Treasuries it still looks as it has since May when I first started to look at those. I have not looked at the cost basis screen lately. I really don't look at much on Vanguard other than the balances and holdings for my 3 accounts.

 

[JoeWras]

When I go to Vanguard I see a mixture of old and new formats. The worst is when I look at a mutual fund, I just did that to see the interest rate of the Money Market Fund. Balances and holdings changed yesterday from the old to the new format but honestly that new format is not a problem. When I look at or buy Treasuries it still looks as it has since May when I first started to look at those. I have not looked at the cost basis screen lately. I really don't look at much on Vanguard other than the balances and holdings for my 3 accounts.

The whole fixed income section is still the old UI. Get this, there's a session timeout bug that will log you out if you are only in the fixed income section. Apparently "activity" only counts in the new UI.

Oh, and they took away the market indices summary in the new UI.


It's really a mess

 

[nassa]

For those thinking of changing brokers, just a heads up on a little wrinkle I experienced recently transferring assets from Vanguard to Fidelity.

I did a full transfer of my brokerage account earlier this month. I continued to have access to my account with a zero balance until this morning. When I logged in, I had no account and no account history, at all. Luckily, I had downloaded the important account records before the transfer. However, it made me uneasy to lose complete access to my taxable account history going back years so I called Vanguard and was passed through to the right department that instructed me on how to send a “rescind letter” via fax or USPS to keep my account open. This has to be received by VG within 60 days in order to re-open the account.

The representative was helpful and I suggested he submit feedback that clients should receive notification of closure prior to Vanguard acting on their own, which he said he would.

So, for those thinking of transferring, I suggest downloading the statements and transaction history you think you might need down the road prior to the transfer. Or, don’t do a full transfer as I did so some money is left remaining in your accounts.

I’m following up on my earlier post after submitting a rescind letter to Vanguard to keep my account open. My account has been fully restored with a zero balance and includes transaction history, statements, realized gains/losses and distribution history.

 

[sengsational]

Concerning the continuity issues, if financial companies were compelled to provide customers with complete financial data (not just hard copy or printable files like PDF), it would be beneficial to customers. Like cell phone companies were compelled to allow you to change carriers without loosing your phone number, we shouldn't be locked in for fear of not having transaction history.

There is no reason why Vanguard or any other investment house couldn't provide machine readable historical data. It could be signed with a Vanguard private key so customers could prove that it's exactly what came from Vanguard. If the account was transferred, they could send a complete record of the account to the receiving financial house. Then I woke up, lol!

Here's my rant about Fidelity, in case you want more about statements: https://www.early-retirement.org/forums/f28/fidelity-html-statements-gone-111613.html#post2686270

 

[Graybeard]

The whole fixed income section is still the old UI. Get this, there's a session timeout bug that will log you out if you are only in the fixed income section. Apparently "activity" only counts in the new UI.

Oh, and they took away the market indices summary in the new UI.


It's really a mess

I'm not sure what the "fixed income section" is. There is a website timer that will log you off after 15 minutes of inactivity if you fail to click on the stay on the site button when a warning appears that you have been inactive.

 

[JoeWras]

I'm not sure what the "fixed income section" is. There is a website timer that will log you off after 15 minutes of inactivity if you fail to click on the stay on the site button when a warning appears that you have been inactive.

The fixed income section is where we've been buying T-bills, bonds, etc. It has the old format UI.

I have found that even if I am actively working there, the timer kicks and I have to click the "stay" button. It should see I am active, but it doesn't.

If I go back to the main pages, this doesn't happen as long as I am actively doing something.

 

[Graybeard]

The fixed income section is where we've been buying T-bills, bonds, etc. It has the old format UI.

Ok, never thought of it that way but it makes sense.

 

[Koolau]

Update on Vanguard Brokerage for Mutual Funds

I had about resigned myself to paying the $20 for a couple of Vanguard accounts to avoid transitioning my MFs to brokerage acts. Then I got an email stating that my "account has been restricted." I had no idea why that would be. I called the phone number they gave for questions. Turns out that one mailing had been returned (I've gotten several forwarded - no idea why this one was returned to V.)

While I had a live person (only took 3 minutes first ring to robot to person) I asked about the brokerage vs old MF platform. The nice lady informed me pretty much what we've all heard that the old platform is old and the brokerage method works better for Vanguard - kinda refreshing. I didn't ask, but assume the $20 fee is just to induce folks to switch.

Anyway, the nice lady led me by the hand through the whole process - including getting into the site (I've not been in for quite a while and had lost my PW/log in ID, etc.) I even got DW on the phone and transitioned her account as well. SO, it took quite a while (over an hour) and "we" (the nice lady and I) encountered several momentary glitches in the V web site. HER access was even problematic! She thought it could be due to transitioning so many folks to brokerage accounts slowing the system.

Bottom line. Those who have faulted V for a flawed web site are correct. You have to be patient with it - or move to another company. Those who have waited hours for help - I don't know what to tell you. It took me 3 minutes. Those who believe they have gotten bad info from V - Again, not sure what to say as I felt completely happy with the service I got and the results were in black and white on the web site before I logged off.

Oh, at the first of my call I told the nice lady that Vanguard was developing a bad reputation in the sites I visited (I didn't mention this site by name.) She said she was aware of it and that V was hopeful that the transition would help (once completed.) At the END of my call, I told the nice lady that Vanguard's reputation had improved in MY mind because of her assistance.

At this point, I'm staying with Vanguard. That could change, but I'm just not seeing the issues that many have mentioned though I don't like the way they "forced" migration by charging $20. If it had been me at the top of Vanguard, I would have sent out a letter saying that we are migrating you to brokerage acct. and here is the info we need to satisfy the SEC. Send the info in and we'll pay you $20 per account.

Just one man's experience and I understand my experience is not yours. SO, as usual, YMMV.

 

[Trailwalker]

Vanguard Customer Service Experience

I've rarely had to call Vanguard but had a less than great experience yesterday. The first hold (predicted to be 20 minutes) was actually only three minutes. But the first representative spoke very poor English and transferred us to the wrong person after another longer hold. The second person said the first person didn't ask enough questions, and we were transferred (after another hold) to a third person who handled the issue, involving the mechanics of a rollover of a small inheritance to my DW from her stepfather's high fee brokerage.

Not enough to be the last straw. But I don't understand why proficient English without a heavy accent isn't a requirement for telephone customer service to English-speaking customers. The first call wasted our time and the second rep's time. This isn't just a Vanguard problem, but it's frustrating.

 

[Koolau]

I've rarely had to call Vanguard but had a less than great experience yesterday. The first hold (predicted to be 20 minutes) was actually only three minutes. But the first representative spoke very poor English and transferred us to the wrong person after another longer hold. The second person said the first person didn't ask enough questions, and we were transferred (after another hold) to a third person who handled the issue, involving the mechanics of a rollover of a small inheritance to my DW from her stepfather's high fee brokerage.

Not enough to be the last straw. But I don't understand why proficient English without a heavy accent isn't a requirement for telephone customer service to English-speaking customers. The first call wasted our time and the second rep's time. This isn't just a Vanguard problem, but it's frustrating.

Oddly, I've come to expect thick accents whenever I call help lines. In today's situation, the nice lady spoke distinctly with what I call a "Nebraska" accent. (Nebraska is sometimes described as the most neutral English accent though YMMV.) I knew a couple from Nebraska and I would agree.

In any case, the nice lady apologized for her dog occasionally yipping. So, obviously she was working from home. A great experience though the reason for the call still irritates me about Vanguard. YMMV

 

[Gumby]

Oddly, I've come to expect thick accents whenever I call help lines. In today's situation, the nice lady spoke distinctly with what I call a "Nebraska" accent. (Nebraska is sometimes described as the most neutral English accent though YMMV.) I knew a couple from Nebraska and I would agree.

In any case, the nice lady apologized for her dog occasionally yipping. So, obviously she was working from home. A great experience though the reason for the call still irritates me about Vanguard. YMMV

The last time I had to call customer service (HP), I could tell that the guy was working from home because I could hear the roosters crowing in the background.

 

[youbet]

I've come to expect thick accents whenever I call help lines. YMMV

\

When I call Schwab, the person who answers always begins by giving their name and their location. The location is always in the USA. Indianapolis is the largest call center and that's the one I frequently get, although Denver comes up too. I really don't care where the person has their butt parked, but I'm a geezer, my hearing is getting a bit fuzzy and I need a clear, easy to understand voice to listen too.

I have noticed some variability in knowledge from person to person the last 2 - 3 years. My personal rep says it's because turnover has been higher and recruitment tougher since COVID. Most of the phone reps are good, but occasionally I'll hit a marginal situation. Sigh........

One procedure they have that I find kind of cute is that if a phone rep senses you're dissatisfied with some situation and they couldn't resolve it, they send a summary to your personal rep and you get a call from him promptly. Apparently customer retention is taken very seriously.

 

[Rianne]

I had about resigned myself to paying the $20 for a couple of Vanguard accounts to avoid transitioning my MFs to brokerage acts. Then I got an email stating that my "account has been restricted." I had no idea why that would be. I called the phone number they gave for questions. Turns out that one mailing had been returned (I've gotten several forwarded - no idea why this one was returned to V.)

While I had a live person (only took 3 minutes first ring to robot to person) I asked about the brokerage vs old MF platform. The nice lady informed me pretty much what we've all heard that the old platform is old and the brokerage method works better for Vanguard - kinda refreshing. I didn't ask, but assume the $20 fee is just to induce folks to switch.

Anyway, the nice lady led me by the hand through the whole process - including getting into the site (I've not been in for quite a while and had lost my PW/log in ID, etc.) I even got DW on the phone and transitioned her account as well. SO, it took quite a while (over an hour) and "we" (the nice lady and I) encountered several momentary glitches in the V web site. HER access was even problematic! She thought it could be due to transitioning so many folks to brokerage accounts slowing the system.

Bottom line. Those who have faulted V for a flawed web site are correct. You have to be patient with it - or move to another company. Those who have waited hours for help - I don't know what to tell you. It took me 3 minutes. Those who believe they have gotten bad info from V - Again, not sure what to say as I felt completely happy with the service I got and the results were in black and white on the web site before I logged off.

Oh, at the first of my call I told the nice lady that Vanguard was developing a bad reputation in the sites I visited (I didn't mention this site by name.) She said she was aware of it and that V was hopeful that the transition would help (once completed.) At the END of my call, I told the nice lady that Vanguard's reputation had improved in MY mind because of her assistance.

At this point, I'm staying with Vanguard. That could change, but I'm just not seeing the issues that many have mentioned though I don't like the way they "forced" migration by charging $20. If it had been me at the top of Vanguard, I would have sent out a letter saying that we are migrating you to brokerage acct. and here is the info we need to satisfy the SEC. Send the info in and we'll pay you $20 per account.

Just one man's experience and I understand my experience is not yours. SO, as usual, YMMV.

I'm with you. We've had several extended calls, very low wait times <5 minutes. The updated website takes some adjusting. NBD. We're good at VG.