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Bad to worse

I've always found Vanguard's customer service and web platform to be pretty awful compared to the competition. When I logged on this morning I found this little chestnut: "In August, you will no longer be able to contact us through the Message Center. However, electronic statements, confirmations, and important messages from Vanguard will still be available there." On those occasions when I have been able to get accurate customer service from Vanguard it has been via that Message Center. I recently read that even the guy who writes the independent Vanguard Adviser newsletter has transferred his assets elsewhere because of Vanguard's customer service shortfalls. I'm willing to bet it's going to get worse.

Comments

  • Definitely ! If there were multiple brokerage platforms that I could purchase Vanguard Funds ntf, I would have closed my Vanguard account years ago. E-Trade and Chase You Invest are the only non-Vanguard platforms that I can purchase VWINX without a transaction fee,and I don't trust either one to keep Vanguard Funds ntf. If Schwab would offer Vanguard Funds ntf, that would be a game changer for me !
  • edited July 30
    I seldom had issues or questions where I needed to contact Vanguard.
    However, I did contact Vanguard several times via Message Center when I did have a question.
    If an immediate response is not required, Message Center is an efficient communication tool since you won't waste time on the phone. It's a shame it will be discontinued!

    Several Vanguard customer service problems were noted in the November 2019 issue of
    The Independent Advisor for Vanguard Investors newsletter:
    • Computer took money from clients' accounts without their permission
    • Some investors unable to wire money from other brokers
    • Two-factor authentication issues
    • October email that 1099 tax forms were finally available (obtainable since February)

    Dan Wiener (newsletter editor) spoke to a Vanguard insider who suggested that the company's broad use of outside contractors may be a large part of the problem. IIRC, Mr. Wiener personally owns at least one share of every non-institutional Vanguard fund to stay on top of things.
    I seriously doubt he would transfer his assets elsewhere while he is the newsletter editor.
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