Customer Service Scoreboard
First, they are not nice. Sound very harsh and sometimes rude. I had a change of address and phone number so I called to have it done. (Could not get on the website). She could not find me in the system regardless of what information I gave her. Nothing showed me having an account even though I have had one with my employer for years and have been active using it. I would not recommend this company at all.
Vanguard support has provided the absolute worse experience in the four financial organizations I have funds in. What should be a simple task of updating the date in a series of payments is their undoing. To add insult to injury when request they resolve the issue the only verbal response was is could not be done. Through written correspondence it was like writing to a robot that had no AI. All I got in response were one on two emails of their policy or they've created a case and nee 2-3 day to review. A week later no response. Back to same robotic series of emails. I'm moving my money to another financial provider. Vanguard has proven to me they are a complete failure in customer service and worse in technical know-how.
Vanguard's customer service is abysmal.
I have a difficult and complicated situation, called customer service and asked what legal paperwork needed to be completed, and followed their directions exactly. Now, after 15 business days of waiting, am being told the forms they gave me are invalid, but they will not say why.
I was told by their rep that there was no one in their department that could help me, and the department that I needed to speak with was not taking calls. To which I replied, "so you're saying you can't help me?" The rep then proceeded to argue that he was not saying that nor had ever said that.
It's absolutely ridiculous.
I call every day and get stonewalled every day.
Vanguard stopped transactions from my bank account without notifying me. I called customer service 4 times to try and resolve the problem. I got different instructions as to how to restore transactions with my bank with each call. None of the solutions offered by Vanguard reps have rectified the problem. Vanguard has not or perhaps cannot explain why they stopped transactions with my bank. My bank is a well known established one. I have been using the account for transactions with Vanguard for 10 years.
I've contacted Vanguard multiple times in the past few weeks. TWICE I called and asked a question, they gave an answer, and I followed up with another question, and they muted themselves and sat there and didn't respond to me for 2-3 minutes. I was saying are you till there? Did you hang up on me? The first time the agent hung up on me, the second time I hung up, because this appears to be a common practice. You can't ask for a supervisor, the supervisor has to call you back within 24-48 hrs. Last time I told the supervisor to call me in the morning and they called at 7pm on a Friday (EST) and I was not available. They didn't even bother to leave a message. This is by far the most incompetent, unprofessional Customer service line I have EVER had the displeasure of calling.
Vanguard customer service is non existant. Even when you call and give specific directions, it is still a hassle. Asked that my disbursement check be mailed to a different investment firm because of all the hassles. Supplied information in writing. Check was issue to the wrong firm. I called customer service and they would not transfer me to anyone, just gave me generic instructions that I had to mail everything snail mail and it would be reviewed to see IF THEY COULD CORRECT IT. Now waiting to see if they will re-issue my check. I guess I will have to get legal involved to make sure I get the money that is owed to me. I should note that this check is over $100k so it isn't a small deal. Do not do business with Vanguard. You will regret it.
Completed complicated process to become authorized agent (Legal POA said to be insufficient). Got MD letter, notarized. Waited. Did not move forward. Why: Vanguard failed to process the MD letter. Waited. Did not move forward. Why: Rep says some new form ALSO needed. Second form never mentioned before or on first form. No continuity, never know if person you are talking to really knows or if person receiving forms has a clue. Just a series of disconnected people who may or may not give accurate answers & have no obligation or f/u= exhausting & frustrating.
I have never been spoken to like I was spoken to today from a V employee in the Advisory Department. I was speaking and he began to mock me and even laughed. No need to go into the particulars,but I was so shocked at the abuse, that it ratteled me. He was an English speaking caveman.
Pretty sad to see the decline in customer service which seems to be the rule now, rather than the exception. Three phone sessions and 6 weeks trying to correct an error that Vanguard is responsible for and that could be corrected with a couple keystrokes. Along with others, I am now looking for some other place to put our (quite substantial) investments. It didn't used to be this way....I wonder if they are as proud as they used to profess....??
BEWARE OF INVESTING WITH VANGUARD
On each of the following, Vanguard replaced my proposed investments with another generating little or no interest. With each I complained and asked to speak with a manager. Despite having very significant investments, Vanguard refused. Do not trust them with your money!
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My mother had over $500,000 in various investments. She passed at the age of 97. During her later years, when she became less savvy, Vanguard put some of her money in an essentially non-interest bearing account. They took advantage of her age and physical condition and refused to address their actions.
My mother passed on 10/20. Four times I submitted the required paperwork to forward her investments in my name. I spent hours and over a year before they FINALLY included her investments with mine, as required by law.
I invested $500,000 in 5 accounts. I indicated this in both a formal application and a telephone conversation. Two months later, my statement indicated that it was put in a non-interest bearing accountVanguard refused my request to speak with a manager, and to provide some restitution. Once again, Vanguard refused my request to speak with a manager, and to provide some restitution.
4. On 12/27/2022 I called. I asked to invest $100,000 in Delta Airlines stock. The stock was selling at $32 a share. My statement indicated my investment instead was put on a Vanguard money market fund. I called, and was told this was a "settlement fund." Vanguard refused my efforts to speak with a manager, and lied to me stating their tapes did not indicate any Delta investment. I complained to FINRA. They admitted that I was told my investment in Delta was complete, and reluctantly backdated my investment. Of course, they offered neither an apology, nor an explanation.
Vanguard has never allowed me to speak with a senior official despite my repeated requests. I have made requests for the taped conversations. Of course these requests were refused.
It is apparent that Vanguard uses every opportunity to defraud their investors.
On 12/29/22 I withdraw my RMD $5,608 for the year 2022. I still did not receive my 2022 Form 1099-R. The response from Vanguard was 'Our records indicate that your Vanguard account had less than $10 of tax-reportable investment activity during the 2022 tax year. Tax statements are not issued for amounts less than $10.'
The RMD must not be reported? What is going on at Vanguard? May I rely on their service?
Vanguard eliminated the unique Flagship Representative and didn't bother to inform me. Now when I phone them, I have to go through a decision tree that takes forever and is worse than calling my cable TV company. What was once an excellent company with first-rate call service in now awful in every way. John Bogle must bust be turning over in his grave!
I haven't spoken to a Vanguard rep in over a year. I called the evening of Jan 17 and obviously was connected to someone in India who speaks "singing english." I asked if she was from Phoenix and she told me she was onshore. A lie! I could hear people talking and laughing in the background and I thought I had been connected to one of the call centers that you would reach at 3 AM, when you were ordering a mop that was advertised on TV. The witch hung up on me because I said I couldn't understand her. Vanguard, one of the largest financial institutions in the United States is now outsourcing customers calls to India. Vanguard also wants to charge you a fee if you want to continue to get your statements mailed to your home.
This is one of the worst companies I have dealt with in a long time. They hang up on you I asked for a manager they call you back in 24 to 48 hours. I did not know my hire date and year and since I'm retired I don't care anymore. I then had my husband set up an account online for me because I am not good with computers and it still is now 7 days before I can get my money. The rudest individuals you can't get a hold of anyone to talk to I wish everybody could go to a different company and get rid of this garbage
I was SO looking forward to using my thousands of dollars in RMD (Required Minimum Distribution) money for needy charities - tax free!
On the 1st of December I had come up with a list of my selected charitable recipients for many thousands of dollars.I was told the funds would be available for me to donate tax-FREE until December 31st.
When I called the "Retirement Department" I found that the "Required Minimum Distribution" had been put into my account in MARCH without my knowledge. There was ZERO available for me to donate to Charity this year without tax consequences. And I was in a much higher bracket than anticipated! More for Uncle Sam! Vanguard screwed up!!!
I would like to express appreciation to Vanguard advisor Patrick Thompson for the excellent service he provided in transitioning my accounts under your new system. He was thorough, knowledgeable and patient with me, an 83 year old not very tech savvy. I have read with amusement some complaints that Vanguard call wait time is poor I learned a long long time ago to avoid this problem by simple calling when wait time is minimal. It doesn't take a genius to figure this out. Alas, most reviews are by people who are very satisfied or very dissatisfied. My experience with Vanguard over many years has always been fair to good, but not this time. This time it was exceptional. Kudos.
I just got off with Spencer from Vanguard. I am new to the brokerage account process. I had many questions, some that needed answers repeated twice. He was respectful and patient through the whole process. I never felt rushed. He directed me step by step through the website so I could correct my mistakes.
He was knowledgeable, without having a big ego and did his job with excellence.
I really appreciated the way he treated me. That's why I'm giving a big "THANK YOU! TO SPENCER!"
Have had a brokerage account, an IRA, and a Roth IRA at Vanguard for more than one year and have been extremely happy. Their ETFs are across a wide range of industries, both domestic and international, which makes for great portfolio diversification, at a super low management rate. Customer service has been flawless. The representatives in Concierge Services always answer my questions, are very polite and knowledgeable, and I can usually ask for the same representative when I call, so that I have continuity with a Vanguard employee, with whom I can establish a relationship. Would highly recommend Vanguard. They do not rape you financially as other brokerage houses do. My portfolio was managed by a "crook in a suit" at Merrill Lynch, and other online brokerage companies have numerous hidden fees and charges, so beware. There has been none of this at Vanguard and I plan on investing a lot more with them in my brokerage account. Wire transfers are easy from my bank account into my brokerage account, and dividends are automatically reinvested, which is not the case at other brokerage houses, because they want you to pay an additional trade fee to reinvest your dividends. However, I have not transferred money out of my Vanguard account as yet, so I don't know if this will be as difficult as some of the negative comments have suggested.
I have transferred three accounts to Vanguard: from my 401(k) managed by T. Rowe Price, from an IRA from Northwestern Mutual Investment Services, and a brokerage account from RBC Wealth Management. I have received excellent service from Vanguard all three times. The last two were assisted by the same Registered Representative in Vanguard Concierge Services, whom I can't recommend highly enough. I should also mention that I prefer doing most of my business online and Vanguard has in my opinion a vastly superior website compared to the three other investment companies mentioned above. I am an extremely satisfied Vanguard customer.
I've been with Vanguard since 2000 and never had any major problems. I do all of my interacting with them online and move my money in and out with ACH. This avoids problems with mailings being late. When I first opened my IRA my initial contribution got credited to the wrong year (I didn't even notice) due to a glitch in their system. Someone called and left and message notifying me of the issues and that they had corrected it. A few years later when I moved my 401k to my IRA. I did an direct transfer and everything went without a hitch.
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