Complaints

This profile includes complaints for Vanguard Group Of Investment Companies's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  Vanguard Group Of Investment Companies

  200 Vanguard Boulevard Mail Stop G 15 Malvern, PA 19355

• 

  Vanguard Group Of Investment Companies

  455 Devon Park Dr Wayne, PA 19087-1815

• 

  Vanguard Group Of Investment Companies

  2715 W 43rd St Minneapolis, MN 55410

• 

  Vanguard Investments

  P.O. Box 3009 Monroe, WI 53566

• 

  Vanguard Group Of Investment Companies

  PO Box 2600 Valley Forge, PA 19482-2600

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:12/08/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  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.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I underwent a wrongful termination with the company I was employed by and needed funds to care for my son and myself while I seek employment. I requested that my money be withdrawn from Vanguard and sent to me. A process that should have taken two weeks has now reached a month. When they finally tried to send the check (because they refused to direct deposit) I requested it be overnighted. I need the funds asap. I am now on the fourth check request in one week! They have done everything wrong from entering the wrong information, declining it due to the wrong information being put in, not notifying me of the updates, putting the check number where it doesn’t belong, and MISPLACING the third check. I tried to escalate the issue to inform the supervisors of all of the mistakes and they said they couldn’t immediately escalate because they are highly regulated. If they are highly regulated then they wouldn’t be making so many mistakes and MISPLACING checks! Every day this week I’ve had to start all over. Now I am going to be in a bind and I’m frustrated for myself and my child. The agent called me hostile on the last call and I told him you are mistaking frustration for hostility. I’m frustrated with the lack of professionalism and understanding and I’m upset but not hostile. I never once cursed or raised my voice. I told him I need to speak to someone higher and he refused. I will never recommend a company with such a lack of understanding and empathy. With such a lack of thoroughness in protocols unless it’s convenient. I can’t even speak to someone higher in a timely fashion. I wasn’t allowed to. I was threatened with a delay on my check if I needed to do that. It’s not right.

  Business Response

  Date: 12/23/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated December 12, 2022, 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

  Date:12/06/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  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.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Made withdrawal for 30000 dollars net from my account + 20 percent for federal tax . That equals a total of 36000 dollars . Vanguard is taking out 37500 dollars . Why ?

  Business Response

  Date: 12/23/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated December 12, 2022, 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

  Date:12/03/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  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.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  11/04/2022 I submitted hardship witdrawl request Ref#********. They said needed more docments which were sent. Then same thing. I have tried 5 times. They claim only 2 faxes went through which is a lie. I have all 5 confirmations & the documents which were sent. I have called numerous times. They are frauduently denying my access to my own money! Now I have suffered additional stress & hardship. I am beyond angry! Either Vanguard can expedite my hardship claim immediately as I requested or I will have to seek a legal claim. Reading comments seems I am not the only one they lie & try fraud peoples money from. Vanguard purposely lying to avoid sending people their own money. They claim if documents not sent within 45 days the hardship claim is closed. So now as of today I have now waited for 31 days. I do have proof of each document Vanguard requested was sent & recieved each time! They sure dont give any hassles when they take my money out of my payroll check. Yet when I need it immediately I am denied access to my own money? I am researching which attorney for a lawsuit against Vanguard! Also which agency to report their actions to. Vanguard is operating under some shady tactics! I do not recommend anyone investing $1 with Vanguard if you have any choice in the matter. My employer is a government contractor so frauding me ia federal offense. However, I am positive that Vanguard will claim they never recieved this complaint either. ??. I want my hardship withdrawl to be processes immediately! Vanguard is illegally withholding my money!

  Business Response

  Date: 12/23/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated December 6, 2022, 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

  Date:12/02/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  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.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My dad died on 12/21/21. We are unable to withdraw his funds due to "spousal concent". The spouse is willing to give concent but it shouldn't matter because according to the estate lawyer "the beneficiaries that were designated superced any other claims". I have called multiple times in order to speak with someone on how to move forward but never get a call back. My stepmom is willing to give whatever spousal concent is needed but have not seen or spoken to anyone willing to give us the required documents that we may need to submit to get the account fixed. The case numbers are useless as the company and life events agents close them at will OR they get flagged a fraud even though I have ssn, address, birthday and all other pieces of information they have asked for. I was told at one point there are only 4 agents that work in the life events department. I was also unsuccessful at attempts to speak with a supervisor. I'm pretty sure it's illegal to keep a deceased person's assets. My family and I want to move on with our lives and get as far away from this nightmare company as we can. It doesn't help my step mom called using my case number and must have been upset and said the entire funds belonged to her and she demanded they withdraw the funds but the agent put it in their notes that I personally stated that which is untrue. The only answer we ever get is here is a case number someone will call you back in 3-4 days which never happens. Just tell us the necessary steps and give us whatever paperwork we need to take to get this resolved.

  Business Response

  Date: 12/08/2022

  We are unable to locate a client with the information that was provided in your complaint and are therefore unable to respond to the issues raised in their correspondence at this time. Please ask ************************;to provide the name and address of the account owner so that we may attempt to locate their information and can address their issue.

   

  Sincerely,

   

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

  Customer Answer

  Date: 12/08/2022

  Account would be under **************************. Dob 7/12/1960 zip code *****

  Business Response

  Date: 01/10/2023

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated December 27, 2022, regarding a complaint from ************************* (BBB Case No. ********).

   

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

   

  Sincerely,

   

  Vanguard Participant Services

• Initial Complaint

  Date:12/01/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  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.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Vanguard debited account fees in error Aug. 10, 2022. I spoke with Vanguard manager Dan G****** on 8-10-22 at 11:52 AM MDT on a recorded line. Mr. G****** stated he had put in a waiver of account fees and I would not be charged any account fees through the end of 2022. I asked Mr. G****** what was the process to follow in the event my accounts were charged in error. He assured me he had entered the waiver paperwork and my accounts would not be charged. On Oct, 25, 2022, Vanguard debited my retirement accounts more than $220 in error for account fees. On Oct. 26, 2022 at 9:16 AM MDT, I spoke with Vanguard account rep Eric C***** who said account fees were charged in error and would be reversed. He said there would be an 'automatic sweep' of accounts during the month of November 2022 for accounts with fees charged in error and that if the fees debited in error were not returned, someone would have to do a "manual entry" to return the funds. On Dec. 1, 2022, I spoke with agent Stephan H******* for more than an hour (8:09 AM MST-9:35 AM MST) who advised no one can do a manual reversal, and that fees debited in error would be returned sometime in December but no one knew when and I would just have to wait. I asked to speak with a supervisor and was told no one was available, nor was there an Escalation Dept. or Complaint Dept. available.

  Business Response

  Date: 12/23/2022

  December 13, 2022  
  

   

  Dear *** *******: 
  

   

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated December 5, 2022, regarding a complaint from ***** ****. For your reference, we have enclosed a  copy of your letter as Exhibit A.  
  

   

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

   

  Sincerely,  
  Vanguard Retail Investor Group 
  

• Initial Complaint

  Date:12/01/2022

  Type:Customer Service Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  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.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have had a Vanguard account for years, but started having problems when they transitioned to their "Vanguard Brokerage Account" platform. I have submitted three sets of forms to reestablish checkwriting, but still have not received my checks and their service representative can only tell me to continue to wait for their "processes" The first request was made on 11/11 and they have no record of it even though I can see it on my online account. I asked for checks to be overnighted today, but was told I would just have to wait 3-5 business days for the form submitte again today to be reviewed and another 3-4 weeks for the checks to arrive. Meanwhile I have no access to the funds in my account. Agent I spoke with today refused to transfer me to a supervisor or someone who could fix this issue.

  Business Response

  Date: 01/10/2023

  December 27, 2022  
  

   

  Dear *** *******:  
  

   

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated December 6, 2022, regarding a complaint from ******* ** *******. For your reference, we have  enclosed a copy of your letter as Exhibit A.  
  

   

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

   

  Sincerely,  
  Vanguard Retail Investor Group  
  

• Initial Complaint

  Date:11/30/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  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.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  After our divorce decree, my ex-wife and I engaged a QDRO attorney to submit a 401K QDRO request to Vanguard. Our QDRO processing agent told us that it would take “100 days to complete once our request was received by Vanguard”. But, Fidelity can process one in 30 days or less, including funds distribution. The request was sent by our attorney and received by Vanguard on June 25, 2022. This is a straightforward non-contested QDRO distribution. About 90 days after request submission, the draft was sent by Vanguard back to our attorney, who forwarded to the judge for signature. The judge signed the order on October 25, 2022. To date: No distribution IRA or qualified retirement account allowing both intra-Vanguard and inter-investment organization transfers has been created in my name as Co-Payee of the 50% balance split. The division of funds in the account has not yet occurred. We have received no formal correspondence about a final completion day despite numerous attempts by both of us. Vanguard QDRO agents are not responding timely or at all to my ex-wife the account holder. The former employer’s program administrator was also notified of these problems. There should no Vanguard-caused processing problem that negatively effects our lives and fulfillment of the court QDRO order. Vanguard has inexplicably allowed this to happen. We are all, including our legal counsels, questioning how Vanguard, as a fiduciary attempting to comply with their duties, cab subjecting us to these unreasonable delays and administrative shortcomings. For the record, 1) Vanguard has not demonstrated that they are acting in our best financial interests, and in fact acting in the opposite. 2) Vanguard has already imposed hardship on us already that could lead to further significant financial hardship, including bankruptcy for both of us unless Vanguard completes the QDRO and the required Payee and Co-Payee distributions immediately. A letter was to the Vanguard CEO similar to this statement.

  Business Response

  Date: 12/23/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated December 8, 2022, regarding a complaint (BBB Case No. ********). Vanguard has responded 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

  Date:11/28/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  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.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Vanguard is switching account platforms and has required shareholders to move to the platform. I have power of attorney over my mothers accounts as she is 94 with dementia and was repeatedly told by Vanguard that moving to the platform would not change that access. However, the minute the accounts were moved access was lost. I regained access to her retirement account after repeated calls, but i have not regained access to her individual retail account where her LTC is paid from. I have been told repeatedly that access would be restored, on the 11/8 I was told it was in progress and would be done by the end of the week. Now once again they have no record and it has not been taken care of.Vanguards customer service has repeatedly misled me, promised call backs, and indicate this was in progress for over a month and nothing has followed up on, no call backs and more importantly no access has been restored.

  Business Response

  Date: 12/23/2022

  We are writing on behalf of Vanguard Participant Services (“Vanguard”) in response to your letter dated November 28, 2022, 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 Answer

  Date: 12/24/2022

  [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 was unsatisfactory to me.  However, after several more calls to Vanguard, a client service representative actually reviewed the history related to this issue and resolved it on the day I spoke to her.  This is what should have occurred during the multiple calls and conversations I had with Vanguard representatives.  In actuality this is what they purported to do, but never did and instead were repeatedly dishonest.  This complaint can be considered closed, but not as a result of the response to this case from Vanguard, but due to a representative wh actually did their job. 
   
  Regards,
  
  *************************
  

• Initial Complaint

  Date:11/22/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  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.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have attempted to roll over MY Vanguard **** funds into an IRA rollover account which is also held at vanguard for the last 3 plus months or more however, Vanguard employees appear to be incompetent and my request cannot be processed. I have submitted several notarized forms and letters as requested by vanguard however my request still hasn't been honored. I have asked to speak with a Supervisor/ Manager and it appears that everyone is " a Senior Staff". At this point I have been given numerous information from reps which are either wrong or partially incorrect. Everything appears to be scripted therefore no one knows what to do. The account in question is Plan # ****** that is in the amount of $7123.89, Check# ********** was last issued on Nov.03.2022 and written out to the incorrect plan although several letter of instructions were mailed as requested Several communication with Vanguard advised that I send a letter of instruction and I was promised that this would resolve the matter. To my surprise it hasn't and funds have not been released to my rollover IRA account # ********. This matter had gone in for to long and I'm seeking immediate resolution

  Business Response

  Date: 11/30/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated November 22, 2022, 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

  Date:11/21/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  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.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This company took over recordkeeping the 401k plans from ****** company. They now have my 401k information that I had with ******. This company is now refusing to disclose the amount of the 401k. They are refusing to give me any information on my 401k that they took over! My 401k has basically being stolen by this company. And when I called all customer service reps say they cant find the amount of my account! they claim it is because of the age of the account but VANGUARD GROUP Inc has TAKE OVER RECORDKEEPING FOR A LARGE COMPANY if the job is to keep records. I asked for a supervisor they just said I will get a call back! I do not see how they conveniently can not even find my 401k amount! I received a letter from ****** on November 8, 2022 saying that a check should have been issued to me from the 401k plan. And that it shows UNCASHED. It says if I had not received my check that I am to contact the companies current recordkeeper THE VANGUARD GROUP INC. This company is doing Everything in its power to give as little information as possible to resolve the issue .I believe this company is trying to keep my money by refusing to provide me with adequate information so I access my funds that was supposed to be mailed. This company seems fraudulent! 

  Business Response

  Date: 11/30/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated November 22, 2022, 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