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 2600 Valley Forge, PA 19482-2600

• 

  Vanguard Group Of Investment Companies

  PO Box 1103 Valley Forge, PA 19482-1103

• 

  Vanguard Group

  2525 Water Ridge Pkwy Charlotte, NC 28217-4544

• 

  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:10/21/2022

  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.

  I requested and mailed in a hardship withdrawal. It was received on Sept 20. On Sept 26, I received a letter requesting additional information. I called and was told to provide a letter from the doctor' office ot a insurance denial. I faxed this information. I then received another letter requesting additional information. I called again and they advised all I need was an explanation of benefits. I faxed this information. On Oct 13, I received yet another letter requesting more info. I called and they advised nothing else was needed and that the pay date was Oct 13 and I would receive funds within 2 to 3 business days. I called back the following week to confirm and they advised again that pay date was Oct 13 and to call back on Oct 18 if not received. I called yet again on Oct 18 and they advised that wasn't correct and they needed more information. I advised that I provided everything that had been requested to include Explaination of benefits, itemized bill, denial from insurance, and collection notice. They just advised to send the same forms. I requested to speak to someone else and they hung up. I called back and requested a supervisor and they said it would take another business day. She then transferred me over to another department who advised the previous fax was never received. Requested that I resend and it should be approved. Also advised to call and confirm fax was received. I called the following day and they confirmed it was received. Tonight I received another message indicating unable to process and needed an explanation of benefits or denial (which I have already provided). If needed I can provide all of my faxes and all the messages received by Vanguard. Please help.

  Business Response

  Date: 11/09/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 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

• Initial Complaint

  Date:10/20/2022

  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 had applied for a loan of $10,000 from my Vanguard 401K account. The loan was approved per Vanguard's message system on 9/27/22. Their website and their representative said it was supposed to be received in 7-10 business days. I have been calling since last week and have called three times including today to tell them that it has not been received. And due to unforeseen circumstances, I cannot pay back this loan as I may be forced to retire on 11/21/22, so I told them just cancel the check and put it the $10K back into my 401K. They said they cannot do that and they said even though I have not received the check I will be responsible for payments starting on 10/26/22 out of my paycheck. They said they cannot cancel the loan and that I have to go get a Fed Ex account as they canceled my check which never arrived and that I will be billed for the fed ex shipping of the check. I am very upset because they said there was no one to route my call to besides the people that the phone call goes to initially. Besides the fact of having to call them and getting hung up on, or their automated service doesn't route me to the right place, etc., I don't understand why this loan cannot be canceled if it hasn't even been received. Also, they would not give me a *** ** routing number tonight so that I can track the package and now they are telling me that it could be 3-5 business days before I receive it even though I asked them to ship it overnight with ***** so once I receive the check I can turn right back around and send them back the entire amount of money because apparently once I no longer have the job I have to pay the 401K back immediately. Please assist if possible. I am not understanding why the burden is being put on me to pay for ***** shipping when clearly this is not something I can control that they didn't send the check or put a trace on it or something. I would like to know if there is anyway that you can help. Thanks!

  Business Response

  Date: 10/31/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 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: 11/02/2022

  [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:
  I had contacted Vanguard approximately 4 times after the check was supposedly issued on 9/26, expressing to them that I needed the check right away because I was using the loan to pay off another higher payment loan that I had and I couldn't afford to pay them both on 10/26.  Every time that I called them they told me just wait even though I specifically asked them to cancel the loan and the check, they refused right up until the next to last time I called them.  I did also ask them if they could direct deposit to my checking account iat my credit union so I wouldn't be left in a bind but they said they could not.  Because of their lack of follow thru on canceling the check and because I couldn't be caught in a bind of paying two loan payments on 10/26, they told me to go get a ***** account number which I did and they overnighted the replacement check to me at a preposterous rate of $126.82 thru *****.  I feel that since they wouldn't cancel the check when I originally called beginning of October, they should have to pay the ***** charge as they left me scrambling with no alternative and I would've never thought that an overnight of a paper check would be that outrageously expensive.  Vanguard also told me that they could not delay the loan payment on October 26th even though I never had received the first check. This unwillingness to work with me on the check cancellation and repeatedly telling me to wait should firmly place the blame and resulting ***** charge on them.  Although I did finally receive the 401K loan check because of Vanguard's refusal to cancel the loan and reissue after numerous calls to them, I had to have the loan check sent ***** charged to me overnighted because they kept telling me to just wait and therefore causing me to have to pay $126.82

  Regards,

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

  Business Response

  Date: 11/09/2022

  Dear ******************:

   

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated November 3, 2022, regarding a follow-up 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:10/20/2022

  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 been attempting to roll over my 401K. It has been over two months since my funds were withdrawn, and my account closed, yet I have not received the funds. They refuse to allow me to speak to a manager or escalate the issue.

  Business Response

  Date: 11/09/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 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

• Initial Complaint

  Date:10/20/2022

  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 have been named POA of an account. Part of my POA duty is to move the account funds into a trust. Every time I call, I am told I need a form for (insert reason here) and have a form sent. I have completed all forms requested, included everything asked for such as POA legal paperwork, notary signatures, account numbers, etc. All forms have been completed and sent via registered mail and I have electronic signature of receipt. I have been told that there is no such paperwork on file. No one sees a request. I am then transferred to several other people, and told the same story. "They can't see the file, someone else in another department has to look." Basically, Vanguard will not allow me to make the transaction to remove the funds. I have been refused the option to speak with ANYONE regarding this situation. There is no customer service number, email, chat - nothing. I KNOW they got the paperwork in July 2022. We have the signature. I am VERY concerned that Vanguard is refusing to disperse for nefarious reasons. I will be filing a complaint with the SEC as well and asking for an investigation into the years of complaints along this same theme - people unable to get their money. I want an EMAIL address of someone who can actually review the file and ensure the transaction is handled. I DO NOT WANT ANOTHER USELESS PHONE NUMBER.

  Business Response

  Date: 11/09/2022

  November 1, 2022  
  

  Dear *** *******:  
  

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated October 20, 2022 regarding a complaint from Diane Helmick. 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:10/19/2022

  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.

  Trying to perform a partial roll over (in service withdrawal) from my Vanguard account to an IRA account. They issued the check to an incorrect account, an old account that was closed with another company. My previous contact at that company called me and I drove over and got the check from him. I have been trying for over a month to get it streight with ten phone calles. I have been assured 3 times that the check I have was cancelled and a new one was sent to the correct account, now I figure thet are lieing.. Funds were removed from my account and I am stuck holding a usless check.

  Business Response

  Date: 10/31/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 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

• Initial Complaint

  Date:10/18/2022

  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.

  Every month I deposit money into my 401K and we have the option to pull money as a withdrawal or a loan. I have an eviction notice and one of the withdrawal options is to prevent eviction or foreclosure, please provide the notice. I have sent them a new notice every month of the same notice as I can't catch up hence the reason why I'm requesting this withdrawal. Every month they have said it's not a clear document and they there's nothing else I can provide besides the notice to get my withdrawal. I have sent them the original document in all cases and this is their response, however, it is legible. I have asked them to get the original that I sent to confirm I have asked to speak to a supervisor on all occasions and have still yet to hear back and get this resolved. Again I am sending them the original document and the copy they upload to their system is unclear so I ask them to get the original document I send in and they say they will reach out to that department. Same thing every month. I am just asking for access to my own money. I have attached a picture of the legible document I sent them.

  Business Response

  Date: 10/31/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 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

• Initial Complaint

  Date:10/18/2022

  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 attempting to initiate a loan through Vanguard, they were supposed to send funds through bank transfer. The bank transfer failed, and rather than contact me, they issued a check that was sent to an old address and never received. It has been more than a year now, and we are still being charged interest on a loan for funds we never received. When "customer service" is called, they say that we need to sign a new form so they can send out a new check, which never arrives. They claim that there is NO other way to receive the funds, and that there is no way for them to verify that a check was sent or for us to track it. In the most recent of many calls, I spoke to Marciel T******** at a call center in Philippines who claims that they do not have any supervisors and there are no other departments that handle these issues. Since it is clearly impossible for a check to be sent properly, and they refuse to send funds any other way, there is never any way to receive the money, making the interest we are being charged essentially theft.

  Business Response

  Date: 10/31/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 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

• Initial Complaint

  Date:10/17/2022

  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.

  I left ******* in October 2021 and have asked Vanguard 3X in 2022, directly to people by phone, to CLOSE THIS ACCOUNT. Vanguard has assured me it would but continues to keep the account open and just sent me the attached statement received in today's mail. Investment firms ignore customers and keep accounts open for 2 reasons: [1] hoping customers will invest more someday; [2] as a way to hit those still-open accounts for annual fees. Not going to happen on my watch. WHAT I WANT: This account closed immediately and a printed statement just like this one from Vanguard confirming it is closed. Within two (2) weeks. DO NOT CALL. Do not send messages. Close the account and notify me in writing. Period. TO CLARIFY: I have a 401K account with Vanguard. With my NEW company who I joined in October 2021: ***********. This is NOT a request to close THAT *********** 401K account. That would be ridiculous and probably illegal. Vanguard is to close the no-longer-viable MongoDB 401K account it should have closed long ago..

  Business Response

  Date: 10/31/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 18, 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: 10/31/2022

  [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: Vanguard has not reached out to me in any way as it alleged in its response. No call, no email, no mail. Nothing. So now in addition to harassing us and leaving our account open so it can try to hit us with fees, it has lied to the BBB and to us.

  Regards,
  
  ***********************

  Business Response

  Date: 11/09/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated November 3, 2022, regarding a follow-up complaint from ***************************** (BBB Case No. ********).

   

  Vanguard has responded directly to ***************************;regarding this issue via First Class U.S. Mail, and we consider the matter closed.

  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:10/14/2022

  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’ve been a client over 20 yrs. Vanguard is misleading, actually deceitfully, trying to move their clients from their older, mutual fund platform to their VBA platform. I received a form letter that said very little except that if I do not move then Vanguard will charge an annual administrative fee. The letter and their customer services!p’ representatives state THAT NOTHING WILL CHANGE. NO SERVICES WILL BE LOST. NO COST TO CLIENT. NOT TRUE INFORMATION!!! VBA DOES NOT ALLOW ACCESS TO YOUR ACCOUNT VIA VANGUARDS AUTOMATED SYSTEM KNOW AS “TELE ACCOUNT” @ 800-662-6273 PLEASE GIVE THIS COMPLAINT TO CEO, TIM BUCKLEY. LYING AND DECEIT IS NO WAY TO RUNNA BUSINESS!!! PENALIZING CLIENTS WITH FEES IF THEY DON’T OPEN A VBA, BROKERAGE ACCOUNT IS WRONG!!!

  Business Response

  Date: 10/31/2022

  October 25, 2022  
  

   

  Dear *** *******:  
  

   

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated October 20, 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  
  

  Business Response

  Date: 11/09/2022

  We have previously responded to BBB Complaint ******** and addressed these concerns, we consider this matter closed. Please let us know if you have any additional questions.

   

  Sincerely,

   

  Retail Investor Group

   

  Monique B**********|Executive Correspondent

  Executive ***************** (ECS)

  Research & Resolution Service|Client Care|NC

  X*****

  Customer Answer

  Date: 11/10/2022

  [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 their response is not satisfactory.

  I accept closing this complaint but Vanguard has not satisfied my need to access Tele Account. Hopefully Vanguards powers to be will provide

  access to Tele Account for ALL clients ASAP!

  Regards,
  
  *************************

• Initial Complaint

  Date:10/14/2022

  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 approved loan from Vanguard was electronically sent to my bank with the incorrect routing number. I was corrected the routing number in my Vanguard Profile and called them to advise them of the error and let them know that my bank did not receive the loan payment nor were they able to track it. My bank told me to call Vanguard and see if they received a rejection notice and or If the had a tracking number. Per ** **** all accepted electronic transfers will generate a tracking number. When I called Vanguard, I was mistreated and dismissed on multiple occasions. I was told the issue would be escalated but it never was. Vanguard gave me a transaction number to give to ** **** but the number was incorrect as ** **** could not track the deposit with the number provided. Vanguard insist that the money was deposited and there is nothing they can do. I had both the bank and Vanguard on a 3 way call and Vanguard was told directly from ** **** that they need the transaction code, and if they don't have one then money was never deposited. ** **** stated that if the routing number was incorrect they would not have accepted the transaction. Despite the back and forth communication, Vanguard has yet to resolve the issue, and it has been over 3 months. I am currently paying for a loan that I do not have access to. The customer service reps for Vanguard have been very rude and dismissive and whenever I ask to speak to a manager they disregard my request and argue back and forth with me that this is a Bank issue and not a Vanguard issue. Still, Vanguard does not have the appropriate transaction code needed to verify the electronic loan deposit. This has been a miserable experience, and I still have no idea where the money is or how to gain access to it. I was told by Vanguard that this would be escalated to a department that had more access to the transactions and that they would contact the bank directly to resolve.

  Business Response

  Date: 11/09/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 18, 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