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Business Profile

Investment Security

Vanguard Group Of Investment Companies

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Security.

Important information

  • Customer Complaint:
    Please be advised that due to the high volume of complaints received for this business, BBB publishes 1 out of every 10 complaints handled through our conciliation process.

Complaints

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

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Vanguard Group Of Investment Companies has 10 locations, listed below.

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    Customer Complaints Summary

    • 608 total complaints in the last 3 years.
    • 146 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:10/03/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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 March 22, 2022, I bought a total of $7000.00 on shares/investments at Vanguard Group. My investment consisted of $4000.00 in a Brokerage Account, $2000.00 in a Roth IRA and had $1000 in reserve account. Recently I encountered a family issue and I decided to liquidate all the investments with Vanguard to help me alleviate the expenses facing at the moment. On October 3, 2022, I placed a call to Vanguard Investments and I was able to liquidate the Roth IRA and Reserve account. However, when I attempted to liquidate the Brokerage Account, I was told that I this transaction was not possible and encountered major difficulties dealing with the Vanguard Representative Julia F****** who refused to make the transaction and return the funds back into my account. Due to the several unsuccessful attempts to accomplish this transaction with Ms. F******, I requested to speak with a supervisor, however, she told me that there was no supervisor on duty and refused to transfer my call to someone else that could help. Ms. F****** instead told me that someone would contact me after 24 to 72 hours. During the several attempts trying to complete this transaction, Ms. F****** demanded private and secured information from my back account and stating that in order to complete this transaction she had to have this information, otherwise, that I was not going to liquidate the account. My bank representative was informed of the requested made by Ms. F****** to be able for her to complete this transaction, and I was warned against it due to major safety concerns regarding my bank in formation. After I refused to provide the bank information Ms. F******, she told me that I was not going to be able to make the transaction unless I provide my back information. I am filing this compliant because Vanguard Group has made it impossible and had refused to complete my request and liquidate the remaining of my investments with them. Thank you.

      Business Response

      Date: 10/25/2022

      October 13, 2022 


      Dear *** *******:  

       

      We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated October 4, 2022, regarding a complaint from ***** ********. For your reference, I 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:10/03/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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 initiated a rollover from my ************ **** Roth to my Vanguard account on 7/26/2022. The money was placed into the wrong account and placed in a Traditional IRA rather than to a Roth IRA. I contacted Vanguard who requested information from ************ that this was a Roth to Roth transfer, which was forwarded to Vanguard. I contacted Vanguard again by phone who told me it was a mistake on their part and would be corrected within 5-7 business days. It has been over 4 weeks without correction. I am again trying to contact by phone but difficult to reach anyone who understands what has been going on. Also online messaging center is disabled.

      Business Response

      Date: 10/25/2022

      October 11, 2022  


      Dear *** *******,  

       

      We are writing on behalf of The Vanguard Group Inc. (“Vanguard”) in response to your letter dated  October 04, regarding a complaint from ****** ******. For your reference, I 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 I can be of further assistance, feel free to contact me  directly.  

       

      Sincerely,  
      Vanguard Retail Investor Group  

    Vanguard Group Of Investment Companies is NOT a BBB Accredited Business.

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