ComplaintsforVanguard Group Of Investment Companies

Investment Security

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Customer Complaint:

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Initial Complaint
08/09/2023
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
My 92.5 year old father ***** ****** added me as co-trustee on this Trust through his estate planning attorney. In July, we both completed a Vanguard Certification of Trust and signed via docusign. We also sent Vanguard the Certification of Trust document from our attorney showing both of us as co-trustees. Since July 10th, we have spent 40 hours on the phone trying to get my name added to the Vanguard account as co-trustee. We keep getting asked to send in a letter, but the phone agents cannot explain what the letter should say. We have been promised a return phone call from **** ******* but she has not called. We finally have a case # ********. We have had no email communication in our Vanguard account since July 10th and are unable to expedite this to management for resolution. Today we have been on the phone for another hour with ****** and he could not get it done as this processor is not available. This is unacceptable and needs to be resolved immediately.
Business response
08/29/2023
We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated August 10, 2023, regarding a complaint from Marty Swartz. For your reference, we have enclosed a copy of your correspondence as Exhibit A.

Vanguard has responded to **************** directly. If you have additional questions, or if we can be of further assistance, feel free to respond to this email.

Sincerely,

Vanguard Personal Investor
Customer response
08/29/2023
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Regards,

***********************
Initial Complaint
07/19/2023
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Called vanguard re a procedure question. Have been with them for 30 years and am disgusted. The lady asked me my security questions..she had NO NEED TO GET INTO MY ACCOUNT! These security questions are old and I only remembered one answer..she said I needed two. They LOCKED my account and I have had NO ACCESS for two weeks. I wrote and sent a certified letter to the CEO, but NO Response. I am 76 yrs old and need access to my Money. PLEASE HELP.
Business response
08/10/2023
We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated July 20, 2023, regarding a complaint from *** *******. For your reference, we have enclosed a copy of your correspondence as Exhibit A.
Vanguard has responded to ********************* directly. If you have additional questions, or if we can be of further assistance, feel free to respond to this email.
Sincerely,
Vanguard Personal Investor
Initial Complaint
06/26/2023
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I just recently opened a VG brokerage account and deposited $7,000 into the account. I got a letter in the mail soon after that showed both my spouse and I listed on the account, along with a 3rd name added, which neither of us added to the account. I immediately called support and was able to reach someone. When I explained the issue that an unauthorized user was granted access to our account, the response I received was "please kindly disregard it". I mentioned a number of times I cannot disregard an unauthorized user on our account, to which the representative repeatedly said "I understand, just kindly disregard". I requested to speak to the manager and was refused and then was transferred to an office that was closed.
Customer response
06/28/2023
Hi,

I have resolved my issue with the company. Please cancel my complaint.

Thanks,
*****
Initial Complaint
06/23/2023
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unfortunately, I had occasion to contact The Vanguard Company regarding a check for $128.90 they sent to an old address back in 2017 Plan Number ******. I have tried TWICE to get money owed to me from the Vanguard company without success, and it is my intention to file CFPB and FRBOC complaints if this is not resolved immediately. I called Vanguard when I originally received the "out of the blue" letter from dated April 13, 2023. NOW CASE:*******, Trade Date 01/3/2017, Check Number ******. The question is " if The Vanguard Company already had my correct address "MY CURRENT ONE", why didn't they send me the funds I am owed after the verification "I called, verified my information, then received the letter of April 13, 2023, WITHOUT THE CHECK. Vanguard originally sent the check without verification first, "what is different now"? Vanguard managed to locate my correct address, "I want to know how "someone had to validate it"? I assume Vanguard used the CRAs to verify my identity. Regardless, my information was verified and re-verified with Vanguard agents, and now I'm chasing my tail to get a resolution. During my first call to Vanguard, the agent was better suited for his job, I was told that my check would be redirected to the new address, "so where is it"?. Now 2 months later I have spent better than a solid hour on the phone trying to get my money. The second agent I spoke with today was SARCASTIC, UNCARING, and refused to escalate my issue to her direct supervisor. In fact, the agent (6.23.2023 around 10 AM) indicated she did not report to anyone. I was told that she doesn't have a direct report, "the audio is clear: I would appreciate a call from someone with the authority to remedy this issue before I am forced to reach out to the US Federal Reserve 5th District, San Francisco Bank Oversight Commission. If I am forced to a complaint, I will request a full inquiry. This could be simple or it can be extremely difficult. Thank You
Business response
07/18/2023
We are writing on behalf of Vanguard Participant Services (“Vanguard”) in response to your letter dated June 23, 2023, regarding a complaint from ************************* (BBB Case No. ********).

Vanguard has responded to ************************* directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

Sincerely,

Vanguard Participant Services
Initial Complaint
06/15/2023
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Not doing what I paid for to manage my portfolio
Business response
07/06/2023
June 21, 2023
Dear ******** *******:
We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated 06/16/2023, regarding a complaint from **** *****. For your reference, we have enclosed a copy of your correspondence as Exhibit A.
Vanguard has responded to **** ***** directly. If you have additional questions, or if we can be of further assistance, feel free to respond to this email.
Sincerely,
Vanguard Personal Investor
Initial Complaint
05/17/2023
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I write to you today after exhausting numerous requests to fix an issue with my Vanguard account. On April 28, I reported that over $40,000 in my account disappeared from my online balance, despite having written confirmation of an exchange. Nearly three weeks later and following extensive and repeated requests to restore the balance, there has been NO progress whatsoever. In fact, today I was told by the same customer service representative, ******* ******, that my case still needs to be assigned to someone to reverse the exchange and then it will be another 7-10 days!!!! Over $40,000 is missing from my account and this is the best you can do? I have rarely experienced such incompetent customer service, and I am questioning whether to remain a customer with Vanguard. I am requesting that this be taken care of immediately.
Business response
06/06/2023
May 25, 2023
Dear ******** *******:
We are writing on behalf of The Vanguard Group Inc. (“Vanguard”) in response to your letter dated May 17, 2023, regarding a complaint from ****** *********. For your reference, we have enclosed a copy of your correspondence as Exhibit A.
Vanguard has responded to ****** ********* directly. If you have additional questions, or if we can be of further assistance, feel free to respond to this email.

Sincerely,
Vanguard Personal Investor
Initial Complaint
04/29/2023
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
In December 2022, I requested that Vanguard freeze my accounts due to a potential hack of my home computer. In Janurary 2023, I requested that Vanguard unfreeze my account. They said they began the process to do this. In April 2023, the freeze still had not been lifted. April 24, I called in and spoke to a Vanguard representative who said he initiated the unfreeze process that would take 3-5 days. Friday April 28 was the fifth day. I checked and my accounts were still frozen. April 28 I called Vanguard again. The representative said my unfreeze was "in process" and would take 7-10 days. Each time I call, I get a different estimate of how long it will take. Meantime, I'm not able to get my RMD for my retirement income. My bills are due and my money in my Vanguard accounts is still frozen.
Customer response
05/03/2023
Vanguard has now unfrozen my account.
I withdraw my complaint because
they have solved the problem.
Sincerely, **************************
Initial Complaint
04/26/2023
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I requested a withdrawal due to pay or quit notice I received for my apartment. I sent in my paperwork and was told I need to have it on a letterhead. My leasing office told me that they cannot put it on a letterhead because it is not a legal document. I did not find any IRS regulations that it had to be on a letterhead. The document was signed by the leasing office. I was still not able to get my withdrawal. I dont appreciate not being assisted and I have stopped my contributions because of this. I refuse to place my money with a company that will not assist me. I requested a supervisor with a rep name ****** A and he refused to request a supervisor and just kept talking making me more ****** off. I had to call back again and request a supervisor. I need to have this resolved and want my withdrawal honored
Customer response
04/29/2023
My address
************************************ #**
Moreno, Valley Ca *****
Business response
05/16/2023
We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated May 1, 2023, regarding a complaint from ******************************* (BBB Case No. ********).

Vanguard has responded to ********** ************** directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

Sincerely,

Vanguard Participant Services
Initial Complaint
04/10/2023
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
On February 10, 2023, when trying to roll money from my Vanguard 401k to my personal IRA, the name listed was not mine, so I called their customer service and informed them. They opened a ticket (case number *******) and informed me it would be fixed shortly. I called in a few weeks, and they informed me they were working on it. I called a week after that only to find out that they sent a request, but I had no way of receiving that request. I can only call customer service and ask for updates. I faxed my social security card and waited a few more weeks. It has been 2 months and they are now reaching out to my previous employer. They are holding my money and I am unable to get it out or contact the team working on my case. It is a terrible way to do business and they need to have a way to get requests to me and for me to see the progress of my ticket.
Business response
04/25/2023
We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated April 11, 2023, regarding a complaint from *************************** ***** (BBB Case No. ********).

Vanguard has responded to *************************** ***** directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact **.

Sincerely,

Vanguard Participant Services
Customer response
04/25/2023
[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]

Complaint: ********

I am rejecting this response because:
They have not reached out to me at this time but are actively working on my ticket. They are expect to provide an update in 5 business days and I will accept resolution then

Regards,

*************************
Business response
05/16/2023
We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated May 9, 2023, regarding a complaint submitted on April 10, 2023 from ************************* (BBB Case No. ********).

Vanguard has responded to ************************* directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

Sincerely,

Vanguard Participant Services
Customer response
05/16/2023
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Regards,

*************************
Initial Complaint
03/31/2023
Complaint Type:
Customer Service Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
On January 2023, a trust account was opened with Vanguard. After a deposit of $500 was made Vanguard has restricted my account preventing any transactions on the account. Finally, around March 10th, (TWO MONTHS LATER) they tell me the restrictions will be lifted on March 30th. For two months no one has told me whats going on and why my account is restricted. Today is March 31st. I spoke to ****************, and he can't find any information about restrictions being lifted from my account nor can he tell me anything about why my account has a restriction and am I not able to use my funds. This company lacks transparency, they lie to their customers and give false and misleading information and I wouldn't encourage anyone to do business with any company who operates this way. I'm totally disappointed with the performance of this company and from the looks of it they have a 1 star track record on BBB. I should have done more research prior.
Business response
04/25/2023
We are writing on behalf of Vanguard Participant Services ("Vanguard") in response to your letter dated March 31, 2023, regarding a complaint from ******************* (BBB Case No. ********).

Vanguard has responded to ******************* directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

Sincerely,

Vanguard Participant Services
Customer response
04/29/2023
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution has been resolved. I'm thankful for the service you provide to consumers like myself. Something that took months to resolve was completed within a few days thanks to you.

Best Regards,

*******************

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