Vanguard
reviews and complaints

I contacted Vanguard online to request a loan to buy a car. First time I've ever requested a loan from any 401k.

After nearly two weeks, I still don't have my money. I can write a check at Walmart and the funds are deducted from my checking account by the time I get home, but Vanguard can't electronically transfer my money after two weeks.

All this has made me decide that I am rolling over my Vanguard money into another company 401k. Anybody but Vanguard.

Fortunately, my employer has several other companies to invest my 401k money with and none of my coworkers has any complaints about doing business with any of them except Vanguard.

Only thing Vanguard has guarded is themselves. Good luck if you want your own money.

Why does Vanguard need to hold onto my money for two weeks when everything is done online? There is no excuse to say that my money has been electronically transferred and taking all this time to actually see the money in my account.

GIVE ME MY MONEY!

Vanguard required me to change my Prime Money Market Fund to a Vanguard Cash Reserve Money Market Fund. As a result, unknown to me, there are no check writing options in the Cash Reserve Fund and my Prime checks are no longer honored.
I found this out after I put a deposit on a car and the Prime check was not not accepted. To Vanguards credit they did send me a message just in time today as I was going to pick up the car tomorrow a 100 miles away.
I, of course, quickly called the dealer to try to explain why the check bounced.
I have not bounced a check in 50 years! I did call Vanguard and was told that Vanguard did nor have checking on the cash fund they required me to move my funds from my Prime account. Because of the time I had to pay $10 to have an electronic transfer to have the funds in my local bank by tomorrow. If I bounced a check for the full amount I would no longer be your customer. Not sure what I will do now.

Approximately 3 weeks ago I sent in the required paper work to transfer my TR Price brokerage account and my wife's brokerage account to our joint Vanguard account. On three different occasions during this period I called Vanguard to check on my request. A recording noted I had an outstanding request and transferred me to a Mr. Eanoti's voice mail. None of my messages to him resulted in a return call.
Today I managed to talk with a person in your "Onboarding" department who tried to help me but indicated that things were backed up as a result of Covid . He could not even tell me if the paperwork had arrived.
My experience with Vanguard has me questioning my decision to move my investment to you company.
I request that someone with the status to accomplish something call me and advise as to what is happening
Thank you
Hubert Speckard [protected] [protected]@msn.com

VANGUARD
I hereby submit this written complaint that:
• Vanguard failed to mail my Vanguard "Proxy" letter early enough to arrive at my residence before the Vanguard Special Funds Online Meeting, apparently conducted on January 22, 2021. Specifically, I received this undated Vanguard "Proxy" letter via USPS that contained "Instructions for attending the Vanguard Funds Special Meeting of Shareholders" on January 25, 2021, after the January 22, 2021 online meeting. Specifically, these instructions included: online conference Control Number, Security Code, URL and password information.
• The Vanguard "Proxy" Letter assistance phone number: [protected] is apparently defunct.
I do not contest the Vanguard "Proxy" Letter's assertion that some or all of the aforementioned online conference access information was provided to me in November 2020. However, Vanguard's late mailing of its undated Vanguard "Proxy" Letter was nonetheless unprofessional.
I submit this complaint to prevent similar problems in conduct of future Vanguard online conferences.
Thank You,
PHIL MARTIN

I contacted Vanguard by phone today, 1/21/21, about a UGTM account I have had for years. I am the custodian and I requested them to change the delivery of statements from hard copy via USPS to an email delivery. I was told the account did not qualify for email delivery due to some vague regulation, despite that their website does specifically state that the custodian may change this feature.

I asked for the representatives' information but he denied providing that to me again quoting their regulations.

Due to this being a financial holding, I am unable to provide any specific account numbers or details. My email contact is [protected]@outlook.com

A difficult, weeks-long battle betw Computershare & Vanguard led to a compassionless, absurdly rude Vanguard rep, Meghan, scolding me about providing a wrong address (it was correct- minus the 4 digit zip code extension THEY added).
I said ‘that was pretty shi**ty'. She said because I used profanity she'd end the call. I said ‘see ya!'

I went to a doctor Monday, May 18 with a severe spider bite. My upper arm was so red, swollen, & a huge green hole in the center. The doctor gave me instructions to build my immune system by eating broccoli, beans, & drinking green tea. He said it was an ant bite & gave me topical creams & claratin. I had to go to another doctor to get anti-biotics. If a doc can't tell an ant bite from wood recluse maybe he shouldn't be a doctor!

Submitted a spousal approval form with notorized signature of spouse however forgot to sign my signature. Called as soon as I notified and was told by Jacob Smith all I needed to do is FAX copy of form with my signature along with other supporting docs. This was done the same day. Call 2 days later to make sure things were back on track and was told by cory that I need to send in form with wet signature I questioned why 2 days later I wasnt notified was told that I beat the messege. Called again to make sure all I needed was my signature and was told by kile.. I needed to send in a new fully notorized copy of spouse approval. I have yet to recieve any email verifications of any lacking actions I needed to take. It took 3 different people with 3 different solutions to fix this solution. Very incompetent to say the least. To make matters worst there is a time limit as I am in escrow. The kicker.. Kile knowing full well I was not having a good day so far had the nerve in his incompetence to smugly say " have a great day". This is an employee sponsored plan but not all the money in that plan comes from that employer I am thinking of withdrawing that amount as well as ceasing any future contributions and seeking other retirement ventures. The incompetence shown today really makes me wonder who I have investing my money.

I am extremely offended and can not believe the way I was just treated by a Daphne Taylor in your withdrawal department. I called confused as to what you need for me to file a withdrawal. She told me multiple times the call was recorded I would like the call pulled it was around 5:30. I work in customer service for Geico I think the call would amaze your management team. She was rude, condescending was talking over me the whole time, would not even answer my question then would through in my face your plan clearly states the rules if you want to read over them. So because I was trying to get clarification she wouldn't answer the question just told me to look it up basically. The fact that she was able to make me so mlthis mad is really something because I normally can keep my cool. This employee by far insulted me talked to me how ever she wanted. Come to find out because I'm a Geico employee my plan I can't speak to a supervisor which is crazy, but clearly she knew she wouldn't be held accountable for the call. When I said I would like a supervisor she didn't explain that instead just said she wasn't going to and if I want to wait on the line that's fine but that you close at 6:30. Like seriously I have never been talk to like that before and for it to be the company that handle my retirement from my company is appalling. Any help would be great thank you

I would like some form of management to listen to this call it was really bad. When I contacted vanguard about it. I'm assuming it was her supervisor or someone emailed me making excuses for the girl saying they thought she was trying to help. They did not do anything or offer any apology for the agent. The management team will not even speak to me. This is the worst company.

My father passed away in August of this year and he did not have life insurance, wasn't sure what I was going to do, so I called Vanguard to see what I could do, they explained to me that I could apply for a hardship. So they sent me the paper work, which I sent back with the information requested, Funeral information, and my birth certificate. In return they sent me a e-mail stating that my father's name was not on my birth certificate, so I contacted Vital statics about obtaining a long version of my birth certificate, received in the mail and sent it to vanguard. They stated that it would take 3 days to review, on the fourth day I did not hear from them so I called and they told me that I would need to send in my marriage license, do not know what that has to do with me withdrawing out of my account. I applied for the hard ship on 8/19/2017 and still have not received any thing, had to borrow money to bury my father and need to pay it back. They are still giving me a hard time, it is know 9/13/2017. I am furious and will never use vanguard again and will tell all my friends about this horrible experience.

i have being losing my money cause they do not have trained personal to process your problems. i have fill the w 9 form 2 times per week they give me a number for processing went i finish and put the number they give me never accepted. And i have call every time that i have the problem over a year making complain in the service number they never can help they say that they do not have no way to help only they make a report that vanguard does not take care it making fraud keeping my money and every month they are spending my money very time i have least make like 20 report to the service line with no results.

You may save on fund fees at Vanguard but take it from a 30 year successful investment professional that has his 401k with Vanguard. Fees and performance are two seperate things.
Also, service is important.
I wait an hour and am transfered several times at Vanguard before getting service.
The saying "You always get what you pay for". Sometimes you get less!

They have terrible customer service. I have been hung up on, lied to, and subjected to very condescending remarks. I have had problems with them in the past but this recent issue trumps them all. I am even more motivated to find another job just to be rid of them. They don't even know their own formulas and policies as a result they are costing me more money waiting for them to provide information on my loan availability. I am so frustrated at this point I would prefer using a loan shark at least I know what's involved ( you either pay the loan back or we break your legs). Its beyond painful when you are requesting a loan on your own money in which you yourself should have a right to. Does anyone know who actually monitors the actions of these companies? Is there an official governmental agency or non affiliate group that will investigate my issue? I don't understand how they stay in business, I have seen many negative posts about them. Beware! All that glitters is not gold, in fact your gold may never be seen again. I don't know how the people that work for them sleep at night. I wouldn't be able to knowing that the company I work for is not customer service oriented and lacks integrity. I really feel sorry for anyone who has to deal with them, and they give them the run around as they are doing to me. In this economy its difficult enough to save anything and then you have these people who work against your own personal financial goals. It horrible and I want out!

Viewing Vanguard customer service complaints 1 - 25 out of 127

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26
Jan

Posted by sunshinekat


1/26/16 11:50AM

I received a phone two days after Vanguard received my hardship withdrawl request, during the review process letting me know they needed a dependent verification. I sent the document the following Tuesday as it was a holiday weekend. They then begun the whole review process over, taking over the 1-3 day processing time they claim. That Friday I called to check the status and was informed I need to send more information. Im no genius but why didn't they let me know the previous week all the paperwork I needed to send. Now its been almost three weeks since they got the paperwork and I have been trying for two days to fax ( from different machines too) and I am constantly getting a busy signal. They claim not to have another fax and that there is nothing wrong with their fax. I requested to speak to a supervisor after I got the notice for more paperwork, they claim one will call you back in 24 hours..its been 3 business days since I made the request. This is a supposed million dollar company...you would think they could pay to get some halfway intelligent people. they won't let you email. Does anyone think we can start a class-action lawsuit against them?

It took four tries, and 3 trips to the notary public, to get an account transferred and online. Even the agents were not clear on which forms I needed (not to mention what the forms were requesting). When there was a problem, they didn't contact me - I had to call and see why the account was not opened. I never had this problem at Fedelity.

I have a 457b plan with Vanguard and I am not happy with the performance. I wanted to roll it over to a better investment plan. Even though the EGTRRA law of 2001 and IRS regulations permit transfers of 457b funds to IRAs and 401K they have refused. Their so called problem resolution rep was not interested in resolving the issue. Her attitude was pretty much FOAD and go ahead and take us to court. As the result I have been ripped off for 21K

I had a company sponsored 401K in 2001/2002. In 2002 I became unemployed after a massive stroke. I recently remembered the account and attempted to contact Vanguard about it. They wanted to know the address on the account. I gave them the last address I had used. They told me that was not the address on the account. I was advised to contact the benefits office and have them change it. I did that. I called again and gave them the new address. Was told again it was wrong. The person at Vanguard proceeded to tell me it was the address I had used before. I told him I had used that address but had been told it was wrong. He said well that was what his screen showed now. He put me through to someone so I could close the account. She proceeds to tell me the account has been closed and it has the old address. The check was never cashed so she can issue a new check but I need to send a fax stating my current address and then call back to get the monies sent to me. I do this. The next week I call back and once again am told neither the current address or the old address is correct. I must ask the benefits office to correct the address. I do that. Then I get a letter from Vanguard saying the address has been updated to the new address. I call again and they tell me my current address is not what is on file even though they sent me a letter saying it is. They finally agree to have management call me in 3 days to resolve this. Three days pass and I get the phone call. According to the manager the closing of the account, the mailing of the check to an old address and their inability to get my address correct is all my fault. Supposedly they are going to cut a new check and send it to my current address. Today I got a letter from them stating they had again changed my address but wouldn't tell me to what for security reasons. I'll believe they will get it right when I see the check. Do not do business with this bunch of clowns.

Vanguard Mutual Group out of Detroit MI used to be called Crimson lending group out of Aurora Illnois. DO NOT send wired money to this group because it is illegal for anyone to ask for upfront monthly payments for loans. It is AGAINIST the LAW to do so and these people are crooks. I was a victim of Crimson lending group which is now Vanguard Mutual Group and they will change their names as many times as possible to try to convince people that they are a an honest company trying to "help out people who wouldn't otherwise be able to get loans because of the credit crunch in banks". If anyone by the name of Ben Stevens, Steve Mayfair or Richard Smith calls, you know that they are scammers.
My story started out when a guy by the name of Steve Mayfair called me to tell me that I got a loan at a rate of 6% and that the person wanting to help me out was a "private" investor. He said that because of my previous credit problems, his "third" party company was going to help me out with the loan amount that I asked for. He faxed me documents that looked legal and he said that the documents were legal and it was bound by law. I believed it and I signed it and faxed it back to Steve Mayfair. He then told me that he needed $2346.00 to cover for four months and that I didn't have to pay for four months. He then told me that I had to wire it to Canada to a lady by the name of Barbara Galin and that I would get my loan directly deposited into the bank the next day. The loan never came and then he told me that I needed to further wire him an additional $2346.00 because of my debt to income ratio was soo high. I told him that I wanted my money back and then he said that he had to wait for the following pay period for the investor to return my money. They never returned anything and their website is no longer up. Don't fall for these guys because they are smooth and they will make you believe that they are out to help people. They are Scammers and I am going to report it to the BBB. Learn from my mistakes so PLEASE do not send them money because it is againist the law!