Vanguard Customer Service Issues [Should I go with Fidelity?]

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ddatl
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Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by ddatl »

Hello,

I am new to this forum. I've been a Vanguard customer for 10 years and it's been great. Up until the last 18 months. I've seen customer service levels degrade significantly. I've had numerous problems with the website not tracking information correctly, emails getting lost, and all around sloppiness. It can take 2-3 weeks to schedule time with my advisor who is a good guy but I sense has hundreds if not a thousand other customers like me. It feels like Vanguard is trying to push investors to self service tools but their systems are not ready. I love the index investing concept and low cost approach but the poor customer service is causing me to consider whether I should maybe move my retirement funds (about $2M) to Fidelity or another provider and just buy Vanguard funds there.

Has anyone else experienced a decline in service levels and any suggestions on managing the Vanguard relationship more effectively?

Thanks.....
dbr
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by dbr »

ddatl wrote: Mon Dec 06, 2021 4:48 pm
Has anyone else experienced a decline in service levels and any suggestions on managing the Vanguard relationship more effectively?

Thanks.....
Here is a search of the forum on that topic: https://www.google.com/search?sitesearc ... er+service
UpperNwGuy
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by UpperNwGuy »

Fidelity and Schwab are much better than Vanguard. The main benefit of Vanguard is to be found in the funds themselves, and those can be held at Fidelity and Schwab, and that's best done using the ETF share class of those funds.
twh
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by twh »

For one thing Vanguard isn't 24x7 phone support and Fidelity and Schwab have offices here are there you can actually go to, on those rare occasions you need to.
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Wiggums
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by Wiggums »

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Last edited by Wiggums on Mon Dec 06, 2021 11:13 pm, edited 1 time in total.
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anon_investor
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by anon_investor »

Wiggums wrote: Mon Dec 06, 2021 10:45 pm
twh wrote: Mon Dec 06, 2021 10:25 pm For one thing Vanguard isn't 24x7 phone support and Fidelity and Schwab have offices here are there you can actually go to, on those rare occasions you need to.
Vanguard office locations

U.S. offices
Charlotte, North Carolina
Scottsdale, Arizona
Valley Forge, Pennsylvania
Washington, D.C.

International offices
Amsterdam, the Netherlands
Berlin, Germany
Brisbane, Australia
Dublin, Ireland
Frankfurt, Germany
Hong Kong
London, England
Melbourne, Australia
Mexico City, Mexico
Paris, France
Shanghai, China
Sydney, Australia
Toronto, Canada
Zurich, Switzerland
Are any of those actually accessible to retail customers?
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Wiggums
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by Wiggums »

ddatl wrote: Mon Dec 06, 2021 4:48 pm Hello,

I am new to this forum. I've been a Vanguard customer for 10 years and it's been great. Up until the last 18 months. I've seen customer service levels degrade significantly. I've had numerous problems with the website not tracking information correctly, emails getting lost, and all around sloppiness. It can take 2-3 weeks to schedule time with my advisor who is a good guy but I sense has hundreds if not a thousand other customers like me. It feels like Vanguard is trying to push investors to self service tools but their systems are not ready. I love the index investing concept and low cost approach but the poor customer service is causing me to consider whether I should maybe move my retirement funds (about $2M) to Fidelity or another provider and just buy Vanguard funds there.

Has anyone else experienced a decline in service levels and any suggestions on managing the Vanguard relationship more effectively?

Thanks.....
I schedule my purchases at Vanguard and Fidelity. We hold the three fund portfolio. I have initiated online transactions at both brokers this year. For example, Roth conversions, opened new account, purchased and sold shares. I never had a reason to call either broker.
"I started with nothing and I still have most of it left."
nalor511
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by nalor511 »

UpperNwGuy wrote: Mon Dec 06, 2021 8:20 pm Fidelity and Schwab are much better than Vanguard. The main benefit of Vanguard is to be found in the funds themselves, and those can be held at Fidelity and Schwab, and that's best done using the ETF share class of those funds.
Ditto
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mhc
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by mhc »

ddatl wrote: Mon Dec 06, 2021 4:48 pm
Has anyone else experienced a decline in service levels and any suggestions on managing the Vanguard relationship more effectively?
I have not experienced a decline at Vanguard. I have never had an issue with Vanguard. I actually prefer Vanguard's website over Fidelity's site. I prefer the large selection of Vanguard mutual funds for TLH.

With that said, once I retire, I may switch to Fidelity because of the CMA. That sounds appealing to me.
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hudson
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by hudson »

I have zero problems with Vanguard.
I'm also at Fidelity to learn their system and to get their 2% credit card.
I'm always on the lookout for the best deal.
I usually don't need to call either Fidelity or Vanguard. I probably haven't called either in 2-3 years.
student
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by student »

Vanguard is fine. I left Vanguard because 24/7 customer service and/or local office is important to me. If you do move, please ask for transfer bonus. Usually $1M will get $2,500.
rkhusky
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by rkhusky »

No problems here. I haven’t needed to call in 20 years. I have communicated via secure message a couple times and those were fine.
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by LadyGeek »

I removed an off-topic interchange. As a reminder, see: General Etiquette
At all times we must conduct ourselves in a respectful manner to other posters. Attacks on individuals, insults, name calling, trolling, baiting or other attempts to sow dissension are not acceptable.
Our experienced members should read: Please Do Not Bite the Newcomers
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JimmyK
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by JimmyK »

Vanguard’s strength is their low cost funds and “tone at the top” to stay in these lost cost funds. However, their customer service model has slipped, where you now need to “pay” for better service. Vanguard is also under significant pressure on their 401k management processing as it’s a race to the bottom in fees and administrative costs with Fidelity and Schwab, whose business model provides them a distinct advantage. I strongly recommend you consider the alternatives.
monkeytypist
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Re: Vanguard Customer Service Issues [Should I go with Fidelity?]

Post by monkeytypist »

ddatl wrote: Mon Dec 06, 2021 4:48 pm Has anyone else experienced a decline in service levels and any suggestions on managing the Vanguard relationship more effectively?
Yes, I've been a Vanguard customer for many years. Most of the services I need are simple buy and sell of mutual funds, but very occasionally I need some things that can't be done online. In the past year when I've needed to speak to a customer service rep for these things, I experienced long wait times, being placed on hold by reps for hours at a time, signing up for call back only to never be called back. Moreover, their tech really worries me--I've increasingly observed incorrect tracking, and several times transactions took me to error pages. I plan to move most of my assets to Fidelity.
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