Vanguard
Reviews and Complaints

Vanguard is a piece of [censored] thief and I hate them! I send them a ridiculous amount of MY money every paycheck but they wont give it back. I should be able to use it how I want and when I want. Next they will probably go out of business and lose all our money. I will not trust them ever again and they will not get anymore of my money! Eat [censored] Vanguard!

I've had an account with Vanguard since the early 1990's

I've been complaining about their cumbersome, difficult to follow statements for years. Statements remain cumbersome & difficult to follow.

Mutual fund shares never coincide with the statement.

Unauthorized monies were removed from my IRA

10/5/22 statement neglected to state where a 2 dividends went

Other brokerages I patronize don't have these issues.

Security information has to be repeatedly given. Just today 10/5/22 I had to repeat it 3 different times

The website is a living nightmare. Too many complaints to list individually.

ie. 10/5/22 unable to complete complaint form, lost twice before completing. I gave up

8/22 Letter stating I save the money I w/b charged if I didn't download my information statement.

10/5/22 Downloaded statement printed incorrectly

Difficult to find the reports online

Something is seriously amiss at Vanguard.

Not a customer friendly

Ultimately, I will be moving my funds

I've worked hard for the monies I have & I have an issue with a company that fails to appreciate or respect their customers

account [protected], stared 10/06/97 [Vandenberg]

I am amazed to be threatened by Vanguard that if I do NOT sign up for e-delivery of reports (including the annual tax report!) I MAY be charged $20 for the privilege of seeing my reports from Vanguard on paper.

Can Vanguard explain to me how I will qualify for the "may be" as opposed to (what it seems to be) "will be" (probably their lawyers' advice!

I am disgusted that Vanguard wants to charge me for reporting to me in paper - but they make it VERY difficult to contact them. I spent 2 hours this morning holding the phone (including to Manila!) (you make it difficult for foreigners to invest in vanguard but as for employees ...) being reminded that vanguard has "A commitment to quality services", don't make me puke. They are imitating many US companies by making it almost impossible to communicate with them. At least they waited until John Bogle was dead before they started this stuff (brokerage account, outsourcing the Variable Annuity).

I would like a DETAILED explanation (it does not have to be on paper, ha ha) about what I am to be bullied into the company's preferences or being punished by a $20 fee [almost certain to be increased next year) for requiring the company to report on my investments in the same way as since 1997..

Owen Vandenberg

I was locked out of my account several months ago and was unable to provide the enhanced password. Customer service sent me a form to verify my identity which was mailed to Vanguard within a week. I called customer service after several weeks since Vanguard hadn't responded and was advised to be "patient". After an additional period of several weeks, I decided to cut my losses and transferred my account to another firm.

I recently received an advisory about a class action lawsuit which required transactional information. I called Vanguard today to seek information on my original request to reset the password and was informed the incorrect option had been selected on the form, however, Vanguard didn't reach out to me about the error (the form was in Vanguard's possession for several months by now). The customer service agent contacted today informed me she would send me an email and advise how the form could be corrected - I expected the error could be corrected through an exchange of emails but no I received a blank copy of the original form. I also asked to speak with a supervisor but was advised that wasn't possible.

It is now too late to complete the reset process in time to recovery data to participate in the class action lawsuit and quite frankly all I want to do is distance myself from Vanguard. It is interesting that similar problems at other firms are resolved in minutes.

Very same situation, I applied for a hardship withdrawal on July 30th for $900. Called them a few days later to check on status and was advised I was only missing a signature, ok no problem, faxed them the signature, that Friday (4 days later), I get a denial via text, I call them that Monday, now I’m missing an itemized bill (other rep didn’t mention this), fine I sent the form, 4 days later I get another denial saying now I’m missing the explanation of benefits, smh. Ok sent that, 4 days later I get another denial, saying I’m missing another form and signature, sent that, that following Friday (keep in mind we’re a month in now) I get a denial again saying they can’t approve it because it’s less than the $1000 limit. Not one rep told me that was a requirement, I bent over backwards to send the form and signatures for a month, I’m pretty sure they knew the amount from July 30th when I initiated the withdrawal but they continued to have me send various documents.

So Sept 5, I contact them, and they advise me to just reapply and they will copy all the forms over to the new withdrawal, confirmed on sept 7th everything was there and it’s processing, well today (sept 12) I again received a denial stating they don’t have proper documentation. Vanguard is a complete train wreck of a company and i really hope my employer switches 401k companies, they are extremely unprofessional and do nothing to help the customer with THEIR OWN MONEY.

I have not been able to sign into my Employer-Sponsored Vanguard Retirement plan for MONTHS. I have spoken to customer service several times. I have been given temporary passwords, and created entirely new log-in credentials with still no luck. After almost an hour on the phone with a representative, I was told that the issue must be on my end (which is false) and that there is nothing more they could do. I told them that this is unacceptable, and that I should be able to view my retirement account portfolio, to which I was given a simple "sorry" in response. This is incredibly frustrating and unprofessional on their part. I'm looking forward to taking my money out of Vanguard once I am able to.

I've initiated a hardship withdrawal for the sole purpose of purchasing a home and only to be given a hard time after submitting all required documentation. First it couldn't be an electronic signature (even if it contained a security code for verification), then some of the documents were not legible, and after having explained to multiple customer service representative the urgency of the request; It was been literally a "nightmare"! Finally; after awaiting each 3-5 business days only to be given the ridiculous explanation about the "market rates fluctuating" and now the amount needs to be lower. I've been living in a hotel spending money that should be going towards the purchase of my new home.

I was never given a call w/the reason for the denial until I contacted Vanguard myself (after being told that everything looked good).

I'm now going to the process all over again awaiting another 3-5 business days worth of reviews and processing turn-around time.

I've never so turn off about an organization until my experience w/Vanguard.

I have been trying to roll over my 401k from a company I use to work for, but they refuse to allow me to access, cash out, rollover, transfer etc. a single penny. The company I worked for closed, they don't exist anymore, over a decade ago. Vanguard claims that I can't do anything with my money unless I get some forms filled out by the HR department form the company that closed their doors a decade ago. When telling them again that the company doesn't exist, they then say that I need a different form from that company saying they are no longer in business. WTF They won't stop charging me fees, and my retirement account is down 40% because of this.

We are unable to access my wife's IRA because our landline number is being used to send security code and Vanguard is unable to update it to her mobile number. Vanguard told us to return their notarized form resetting all security for her account which we did and the problem remained. Two representatives told us they had reset the number but text was sent to out of service number. Vanguard changed the number on our taxable account claiming it was her IRA. I resolved that one online. A brokerage rep did take care of the MRD for us but to date the old phone number is still on file. All that is required is Vanguard replace the old number with her current number and we can do the rest online.

I have been a vanguard client for over 30 years and have several accounts with them. In the last year, they have made numerous significant mistakes involving our accounts. Never mind the fact that when you call you are on hold for over an hour on average. The clearest way to highlight the numerous mistakes is to list them numerically.

1. The most significant mistakes involve processing an order to transfer money from one account to another. They submitted the order twice, so that double the amount of money ended up getting moved from one account to another.

2. They mixed up our mailing and physical address (despite it being on file and not having changed in 20 years) so that our checks got returned to them and then they PLACED A HOLD ON OUR ACCOUNT for 2 weeks due to THEIR mistake!

3.. They repeatedly made us submit the same forms over and over, because they kept losing them.

4. They mixed up the information on my siblings when we were waiting to receive our money from our mother’s estate. We called several times over a period of months and were told something different each time we called.

Again, it was a mixup on their end, not ours.

5. After waiting over an hour on hold, the agent told me she had to transfer me but I would not have to wait on hold. LIE! I had to wait another 20 minutes, listening to possibly the worst music ever that will haunt my dreams.

6. I am not making this up-before my 97 year old mother passed away, they needed a document notarized by her and mailed in. It was a huge challenge to get her to a notary and complete the necessary forms, but we did it. 2 weeks later they said their department didn’t do a good job scanning the paperwork and they wanted us to repeat the whole process all over again. With a 97 year old frail woman! I drew the line, and told them they must find the originals, which they ended up doing. But it cost us 2 more weeks of waiting for the transaction to be completed.

There are other issues, these are just some of the most glaring ones that have happened just in the last year. As soon as I can I am switching all of our accounts out of this company.

My account # was [protected]. I had been doing some business with Vanguard for many years. Recently I was insulted to receive a letter stating that I would have to pay $20 a year for continued mailing of documents if I would not use the internet.

I use a computer a lot. But I will be 80 years old next month, and I do not trust the security of my computers. There are no financial records on my computer, and won't be. My local bank waives mailing charges for all customers over 65 years of age, and treat me like they want my business. Unlike you.

I had my brokerage move the funds in the account into their care.

Good bye.

Bob Locher

Since everyone is working remote, nobody answers phones expecting another representative to pick up. I have called 4 different days and have been on hold for 2 hours each day with nobody answering the phone. Someone needs to be accountable for their employees not doing their jobs. I am now closing my accounts and going to fidelity that has a better customer service response.

I am extremely unhappy about the new vba format that will cost me money if i do not change into

this is a scheme to make money and is being forced on me because i do not want to sign up for it

without signing up they will charge $20.00 per account and $60.00 dollars to keep in legacy format which they want to close

i do not like to do anything on computer but started to do it this morning but i felt the questions being asked were too personal and non of your business

they want to change because they want you to have a brokerage account for other vehicles they offer if i want to invest in something else i would rather call and enroll as i like and definitely not on the computer

after reading about this i will no longer invest another dime in this company and i will spread the word that you are no longer user friendly and are only out to scheme to make keemore money from your investors

i have a large investment with you and do not feel that these services should be paid for

1. Unlike other sites including the Vanguard app I continue to be required to enter a code because my iPad is not recognized as a regular user.

2. Twice last week after entering the correct code the site tells me I did not enter the correct code. After trying again access was denied. Now I must wait until Monday to call and go through an inquisition to get my account unlocked.

Complaints to Vanguard representatives result in bad advice and lying to me about my iPad being the problem.

Had Faud happen on my computer on 6-2022, called Vanguard and have not from them after four calls to them. They said to wait 72 hours and someone will call you. After four calls and waiting 72 hrs. each time, I am totally not happy with the Vanguard Group. I am still waiting for a phone call as of 7-2022.

For over 60+ days me and my husband have attempting to pull funds for the closing cost associated with the build of our new home. Mailing documents, faxing documents over and over. We learned yesterday these folds supposed reviewed our account and only offered monies no where near our closing cost. The rep agreed something just didn’t add up. We have access to way more then they are offering. Long story short we’re closing in 3 weeks and still have mo resolve. It’s ridiculous we have to fight for access to monies that begin to us. Vanguard shouldn’t be used if your seeking access to YOUR OWN monies!

Customer service on 401K is terrible. Phone calls have an average hold time of 1.5 hours. They have a call back option, but often it just them calling you back to put you on hold for another 30-45 minutes.

I attempted to rollover my 401K to another company, since I changed jobs, and they lost the paperwork. I have been trying for more than 3 months to rollover my 401K.

Vanguard bounced five valid checks I had mailed to pay bills (insurance, property taxes, utilities, etc.) and blocked my GNMA account on which these were written and which had more than sufficient funds. Four different representatives blamed the post office, and also said they could not verify my address. I dont know why this has anything to do with the fact that they bounced the checks when the payees submitted them to Vanguard for collection. They made no attempt to contact me by phone. They sent two vague emails asking me to go to my web site but these emails contained no information as to the subject of the emails, the problem, etc. I only found out about the bounced check when my utility bill arrived and said there were arrears. I phoned them and they told me Vanguard had refused to pay them. I have spoken to four Vanguard employees and none of them knew anything at all and kept referring to an 'invalid" address even though I had not sent anything to Vanguard by mail. If they had sent something to me by regular mail and it was returned, why did they not phone me or send me an email telling me what the problem was?The four people were just at home reading from scripts. None of them knew anything and they kept changing the subject. All I wanted to know was: why did they bounce five valid checks written

on a valid account? and why did they block the account without telling me?

Vanguard will not provide email communication address. Only phone number, and they keep you on hold for hours. Moved my Union Pacific 401k money to high risk fund without giving me notice. Lost money. requested my 401k be rolled over to T.D. Ameritrade Vanguard refused! I lost money in a fund they make money on. They are CROOKS!

Below is email from Union Pacific Railroad HR department

Ticket UP-[protected] has been resolved with the following solution summary:

Hello, Vanguard has advised you are able to request a rollover. Your termination date was received on the 05/04/22. Please contact Vanguard at [protected] fir assistance with the process. Thank you, Workforce Shared Services

Please retain this problem number (UP-[protected]) for reference.

I have been on hold for 3 hours each day for an entire week and cannot get ahold of someone to give me MY MONEY. THIS COMPANY IS HORRIBLE!