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

  PO Box 7800 Philadelphia, PA 19101-7800

• 

  Vanguard Group

  2525 Water Ridge Pkwy Charlotte, NC 28217-4544

• 

  The Vanguard Group, Inc

  14321 N. Northsight Blvd. Scottsdale, AZ 85260

• 

  Vanguard Group Of Investment Companies

  455 Devon Park Dr Wayne, PA 19087-1815

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:11/19/2022

  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 can log into my account, just to be greeted with “Total Vanguard assets: $0.00”, and “Data Unavailable”. I actually have a large sum in my Vanguard accounts. Other pages are unavailable or with very limited information as well. Very difficult to manage my assets. I reported the problem to Vanguard Tech Support on 10/5/22, Repair Ticket ****** was generated (I’m writing this on 11/19/22. Over a dozen calls to Tech Support… Been told the Ticket is sitting on a manager’s desk four weeks ago, have been promised three times that a tech person will call (never did), been bounced around between Tech Support and Brokerage a number of times, told to upload new browsers… all this time, and still unable to use my Vanguard portal. Moving my assets to a competitor in order to get service, my Vanguard mutual funds will have to be cashed out, resulting in a large tax consequent.

  Business Response

  Date: 12/08/2022

  December 02, 2022 

  Dear *** *******: 
  

  We are writing on behalf of The Vanguard Group Inc. (“Vanguard”) in  response to your letter dated November 21, 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

  Customer Answer

  Date: 12/08/2022

  [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 is satisfactory to me. 
  
  Regards,
  
  *****************
  

• Initial Complaint

  Date:11/18/2022

  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.

  I wired $20,000 from my ***** bank account to a new Vanguard account on Oct 2022. Due to system errors on Vanguards platform, the money did not appear in my brokerage account and in fact disappeared according to the representatives I spoke with who acknowledged this was a system error. Somehow, they opened up several brokerage accounts for me in error, and it wasnt until weeks later, around Nov 1, that they finally cleared up the error and I saw a $20k balance in 1 brokerage account. After waiting for over 1 week to make sure my money was still there, on Nov 11 (my balance was still showing $20k), I withdrew $10k due to my loss of trust in the company (via a check to my home address) and with the remaining $10k, I purchased a US Treasury bill. When I logged into my account this week Nov 14, my account was not only showing a negative balance of approx. $9,900, I received 2 emails saying that I have a negative balance in my brokerage account and I owe Vanguard money! I called Vanguard this morning, Nov 18, to explain the situation, and the representative claimed that for some reason the $20k initially deposited had been kicked back and therefore I had no money in the account. He couldn't tell me why this happened, where the money went, and he also couldn't explain why I was able to both withdraw money AND place a trade if I had no money in the account. I am currently still waiting for someone from Vanguard to call me back to explain where my money disappeared to. This experience has stressed me out considerably, and at this stage, Vanguard has essentially either LOST or STOLEN my $20k. This is no small sum to me. In fact, it is worth over 2 years of diligently accumulated savings from my modest pay check. Vanguard has not only failed at accounting for my money, I dont think they are going to take me seriously, because to them, I am a small fish. I kindly request that someone from the Better Business Bureau to help me locate my $20,000. Thank you.

  Business Response

  Date: 12/01/2022

  November 30, 2022  

  
  Dear *** ***:  

  
  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated November 21, 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  
  

  Customer Answer

  Date: 12/01/2022

  As of November 22, 2022 the situation has been resolved.  I no longer have a negative amount of $9,000 in my account. Furthermore, I was able to deposit a check for $10,000 from Vanguard into my checking account.  

  
  

  Your attention to the matter is greatly appreciated and I believe it was your scrutiny that helped to quickly resolve this issue.  I believe this issue is settled, but if anything else arises, I will be in contact.

  
  

  Thank you,

  
  

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

• Initial Complaint

  Date:11/16/2022

  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.

  I had opened a Vanguard Brokerage account almost 2 months ago. I still don't have proper online access to the Vanguard's site. Whenever I log in I can't see an overview of my account, I can't add my beneficiaries and I am not able able to use many other features of the site. I have called more than 5 times and each time they the customer service representative suggests me to use a new browser or re-register my account. I do all the things they suggest and nothing works and each time they assure me that someone will call me within 24-48 hours to resolve my issue. But to this day no one has called me and I haven't had full access to my brokerage account. Vanguards website lets me invest but doesn't let me see the overview of my account or add my beneficiary. I have been trying to get full online access to my own brokerage account for almost 2 months without success.

  Business Response

  Date: 12/08/2022

  November 28, 2022 

  Dear *** *******:  
  

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated November 21, 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  

  Customer Answer

  Date: 12/08/2022

  [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 is satisfactory to me. 
  
  Regards,
  
  *************************
  

• Initial Complaint

  Date:11/16/2022

  Type:Customer Service 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 complaint concerns on going evidence of identity theft. I have never done any business at Vanguard but yet I keep getting mail that would make you think otherwise. Vanguard has been contacted three times in the past and were asked to remove my information from their database but it never gets done. I recently received another mailing from them regarding a money market fund that I do not own. I do not do any business with Vanguard, I don't know how they ever got my name and I want my information removed from their database. I am hoping that filing this complaint will ultimately get Vanguard motivated to get that done.

  Business Response

  Date: 11/30/2022

  November 22, 2022

   

  Dear *** *******:
  
  We are writing on behalf of
  Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated November
  17, 2022, regarding a complaint from ****** ******.  For your reference, we have enclosed a copy
  of your letter as Exhibit A.
  
  Please know that Vanguard has
  previously responded to ****** ****** directly in writing concerning this
  issue. If you have additional questions, or if we can be of further assistance,
  feel free to respond to this email.
  
  Vanguard Retail
  Investor Group

• Initial Complaint

  Date:11/16/2022

  Type:Customer Service 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 name is *************************. Ph **********. Zip code ***** and account ending in ****. I need my access to the account restored.I have had Vanguard account for more than 6 months. 6 weeks ago Vanguard locked my account citing some fraud detection. I have called them more than 10 times and talked to more than 20 representatives. Everytime I reach to somebody they say research team will contact within 24-48 hours. They also say there is already a ticket filed. This has been going on for 6 weeks. I have about $40000 stuck which I need asap and cannot access. Also there is a $1000 per week which is withdrawn from connected account which I cannot stop as I dont have access to the account. None of the vanguard agents are able to close the account or stop the withdrawal or do anything else. Only thing they say is research team will contact you.

  Business Response

  Date: 11/30/2022

  November 18, 2022  
  

   

  Dear *** *******:  
  

   

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated November 17,2022, 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:11/15/2022

  Type:Product 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.

  On 9/23/2022 I sold all shares in Vanguard’s Target Retirement Fund. These shares were held in three accounts; an individual investment account, a Roth IRA account, and a Traditional IRA account. I received settlement of the individual investment account and the Roth IRA account in a timely manner. Vanguard offered to to do a “direct rollover” of the Traditional IRA funds to an existing retirement account I have with the ****** ******* **** (I am a former government employee). I filled out Vanguard’s online form with TSP’s address to enable them to complete this rollover by sending check to *** as the new custodian of these funds. The amount of this check would be $47,751.31. On 10/4/2022 I saw that these funds had not been added to my *** account yet so I called *** to inquire. They had not received check. During this discussion, I discovered that the check of $47,751.31 was sent to an older address of *** that is no longer a valid address for them. *** told me that it was unlikely that this check would be forwarded to them to their correct address and suggested I contact Vanguard to stop payment on check and request issuance of new check. I did this. Called Vanguard same day, 10/4/2022 and spoke with Michael D*******. He told me stop payment would be done and new check would be issued within 10 business days. For simplicity, I requested check to be payable to me and sent directly to me this time at my home address and I would do an “indirect rollover” myself. Never received check. Each time I call they provide no explanation and do another “stop payment/reissue.” On 10/19/22 Riley M****; “stop payment/reissue.” No check. My most recent conversation with Vanguard was on 11/11/22 with Andrew N******** who did, yet another, “stop payment/reissue.” Seeking some reassurance I asked Mr. N******** for email confirmation. He said he could not do that but provided me with a confirmation number of the call #********. This is where it stands.

  Business Response

  Date: 11/30/2022

  November 29, 2022  
  Dear *** ******* 
  We are writing on behalf of The Vanguard Group Inc. (“Vanguard”) in response to your letter dated  November 21, 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  
  
  

  Customer Answer

  Date: 12/06/2022

  [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 is satisfactory to me.   Check has been received yesterday, December 5, 2022,  by regular USPS mail.
  
  Regards,
  
  ********************************
  

• Initial Complaint

  Date:11/15/2022

  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.

  On 11/15/2022 I called Vanguard to get some information on a hardship withdrawal request and was just trying to get issue resolved of where there system had made a error. Everytime I would call I would get a representive that would give me information that was not pertaining to anything I was asking. I have never experience the most rudest customer service rep and one supervisor was rude too and he wouldn't give me his name. I had to then return a call then got back to another supervisor stated that name was ****** at 12:00pm on 11/15/2022 he stated he guess it want be problem instead of giving me reinsurance or a good resolution.

  Business Response

  Date: 11/30/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated November 21, 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: 11/30/2022

  [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 is satisfactory to me. 
  
  Regards,
  
  ***************************
  

• Initial Complaint

  Date:11/12/2022

  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 held Roth IRA account at Vanguard for over 10 years. And until recently had no issues with the company. It all changed on 11/10/2022, when I received an email suggesting I withdrew funds. I logged into my account online and saw that a $20 fee was charged to the account, for which some shares I held in a mutual fund were sold. I called Vanguard on 11/11/2022, and first spoke to a representative who suggested that a fee was charged because I failed to transfer funds to a brokerage account by some due date. But that they extended the deadline for the switch, and if I completed the transfer (by submitting an on-line request), Vanguard would return the $20 sometime in December 2022. Then upon me asking questions regarding all this, I was transferred to another representative, who suggested Vanguard has been trying to contact me via email on multiple occasions, including in September 2022. (I did not have any communications from Vanguard, email or through postal service in September. The last email I received from them was in August 2022, but nothing in that communication indicated urgency - the subject was 'Updated Vanguard fund information available'.) The rep also told me that with this new brokerage account, if I do not sign up to receive all communications electronically, they'll charge me additional fees. At this point I asked to speak to a manager. To which I was told that the manager will not be available until early-mid next week. I strongly believe that Vanguard's actions if not illegal, are highly unethical. And my trust in the company is ruined. At this point (1) I'm not interested in a brokerage account, (2) I would like my $20 back, (3) I'll be moving my money to a different financial institution.

  Business Response

  Date: 12/01/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated November 14, 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:11/11/2022

  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 made an egregious error in processing an ACATS transfer, acting beyond the written authorization I gave them. They processed an "incoming" partial ACATS transfer as a "full" transfer, thereby causing my account at the other firm to be closed and seizing assets of mine (preventing me from transacting in them myself) for weeks.Vanguard admits the error but still has not restored the assets to my old firm, despite repeated promises that the problem would be corrected by now. They have yet to reimburse a $75 fee that the other firm charged me, despite repeatedly promising to do so, because they now say the other firm has reimbursed that fee; the other firm, instead, has given me a separate compensation as a result of their own errors, which were triggered by Vanguard's errors, and that is a separate customer-service matter between me and the other firm.Moreover, Vanguard has interfered with my use of assets worth around $35,000 for at least two weeks. Under New York law, which governs the brokerage-service agreement, this is conversion, and the legal remedy in New York is 9% of the converted value for the time period of the conversion - which here would be about $200, although the final figure can't still be determined exactly because Vanguard has yet to fix the error. Vanguard will claim they couldn't fix the error earlier because my account at the contra firm had been closed. It was closed, however, only because of their mistake, and Vanguard informed me repeatedly that a "letter of indemnity" they sent to that firm would fix the problem. Moreover, Vanguard never notified me that they were having trouble sending the assets back, so the problem squarely rests with them. Through Vanguard, it is impossible to talk to a supervisor or to anyone on the ACATS-processing team. The experience has probably been the worst customer-service experience of my life.

  Business Response

  Date: 11/30/2022

  November 25, 2022  
  

   

  Dear *** ********  
  

   

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated November 14, 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  
  

  Customer Answer

  Date: 11/30/2022

  [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 is satisfactory to me. 
  
  Regards,
  
  ***** ******
  

• Initial Complaint

  Date:11/04/2022

  Type:Customer Service 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 requested a Hardship withdrawal on 10/22/22 for the purchase of a primary home. I have spoken to multiple Vanguard representatives and have received multiple text advising that my application can not be processed due to missing documents. I have sent all of the requested documents per the representative request and noted on the website. Each representative tells me something different each time and when I ask to speak to a supervisor/manager they tell me the hardship withdraw dept. is in the back room and they do not have phones and there are no managers / supervisors available. The representatives state they will note the file and I will be contacted in 48 hours. I have never been contacted by a supervisor/ manager and they keep sending emails/text that I am missing documents. Each time I send the documents that they request and I still receive missing document response and withdrawal unable to be processed. Unfortunately they have prolonged the closing of my home for over two weeks. I am extremely displeased with the treatment that I have received from Vanguard. Stop giving people the run around regarding their funds. This vastly effects people livelihoods. To purposely give people the run around and cause distress and delays is adding to the HARDSHIP. Such poor and unethical business practices.

  Business Response

  Date: 11/30/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated November 10, 2022, regarding a complaint from *************************** (BBB Case No. ********). Vanguard has responded to ******* Talley 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