Vanguard

Opening a traditional IRA with Vanguard turned out to be an extremely frustrating experience. I spent over 10 days trying to set up the account, but was blocked due to a legacy account from 25 years ago that had already been closed. There seems to be no efficient way to resolve this issue. Very disappointing for a company of this reputation. I ultimately opened an account with Fidelity, where the entire process was smooth and completed in under 30 minutes.

Worst experience in 40 years dealing with any financial services company. As an attorney and CPA, I've dealt with many. The left hand does not know what the right hand is doing at Vanguard. Blast emails are inconsistent and have nothing to do with representations made by the company over the phone. The front office and back office do not communicate. Doing a simple transfer of assets is unbelievably complicated and fails terribly in comparison to Fidelity and others. I would never consider using Vanguard again, despite their so-called low cost. Customer service is horrible.

Awful. I have been trying to roll over my money for four months and it's still not done, nor is it close. I just had to restart. Customer service is awful and did nothing. If my work didn't use them, I would definitely be going elsewhere. I am actually debating just starting a personal one and transferring at this point.

Don't do it! I transferred out my entire portfolio due to a slow, outdated website and horrible customer service. They charged a $100 transfer-out fee per account. I called to get a refund, they said, "Ah, yes, sorry. It's in the terms and conditions." I said I'm putting this all over social media to warn people. The representative said, "Go ahead." Nice.

1. The "Low Cost" Myth:
They tout "low-cost investing," but it's like a magician's trick— all smoke and mirrors. Once you're in, you find fees popping up like weeds after a rainstorm. It's a low-cost facade until you read the fine print.

2. The Nonsensical Commissions:
Vanguard's commissions are like hidden landmines in a battlefield. You think you're stepping into a safe investment, but then—BOOM—a fee you never saw coming. They charge you for the privilege of giving them your money.

3. The "Investor-Owned" Lie:
They claim to be "investor-owned," but it feels more like "investor-fleeced." You own shares, but those shares seem to shrink faster than an ice cube in the Sahara due to their hidden costs.

4. The Account Fees - A Joke:
Account maintenance fees? It's like paying rent for a plot in the financial graveyard where your returns go to die. They charge you to hold onto your money, which is absurd in itself.

5. Customer Service - A Black Hole:
Trying to get customer service is like calling into a void. When you finally get through, you're met with responses that are less helpful than a broken compass. They're experts in not solving your problems.

6. The ETF Fees - A Stealth Tax:
Their ETFs come with fees so sneaky; they make ninjas look loud. You invest in what you think is a cost-effective ETF, only to find out there's a fee for every transaction.

7. The Mutual Fund Fees - A Comedy:
The mutual fund fees at Vanguard are like a stand-up comedy act where the punchline is your bank account. They've got so many layers of fees, you need a degree in archaeology to uncover them all.

8. The Transparency - As Clear as Mud:
Transparency at Vanguard is like looking through a frosted window on a foggy day. They talk about being open but hide their fees like they're protecting national secrets.

9. The Investment Returns - A Mirage:
The returns? They're like a desert mirage— you think you see water, but it's just more sand or, in this case, more fees eating away at your investment.

10. The Advisor Services - An Expensive Illusion:
Their advisor services might as well be a magic show where the only trick is making your money disappear. You pay for advice that's often as vague as a fortune cookie.

11. The Tax on Your Patience:
Their withdrawal processes are so slow, they charge you extra just for the patience you need. It's like they've got a fee for waiting, which is just another way to nickel and dime you.

12. The Performance Reports - A Fable:
Their performance reports read like folk tales. They're all about the happy ending of growth, but your actual account tells a different story, one of fees and diminishing returns.

13. The BBB Rating - A Facade:
An "A+" from the BBB? That's like giving a medal to a snail for speed. The real customer reviews are a saga of frustration, hidden costs, and unexpected charges.

14. The Security - A False Fortress:
They claim to protect your investments, but it feels like your money is in a sieve. Their security is about as reassuring as a paper umbrella in a hurricane.

15. The Investment Options - A Maze:
Choosing an investment with Vanguard is like navigating a hedge maze blindfolded. They've got so many options, but each one comes with its own set of fees, making the choice more about cost than benefit.

Conclusion:
Vanguard isn't the vanguard of your financial future; it's the vanguard of your money's disappearance. If you want to invest, you might as well toss your money into a wind tunnel—at least then you'll see where it goes.

So, if you're thinking of letting Vanguard "manage" your investments, remember, this isn't just an investment firm; it's a masterclass in how to drain your wallet with a smile.

On each of the following, Vanguard replaced my proposed investments with another generating little or no interest. With each I complained and asked to speak with a manager. Despite having very significant investments, Vanguard refused. Do not trust them with your money!
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My mother had over $500,000 in various investments. She passed at the age of 97. During her later years, when she became less savvy, Vanguard put some of her money in an essentially non-interest bearing account. They took advantage of her age and physical condition and refused to address their actions.

My mother passed on 10/20. Four times I submitted the required paperwork to forward her investments in my name. I spent hours and over a year before they FINALLY included her investments with mine, as required by law.

I invested $500,000 in 5 accounts. I indicated this in both a formal application and a telephone conversation. Two months later, my statement indicated that it was put in a non-interest bearing accountVanguard refused my request to speak with a manager, and to provide some restitution. Once again, Vanguard refused my request to speak with a manager, and to provide some restitution.
   4. On 12/27/2022 I called. I asked to invest $100,000 in Delta Airlines stock. The stock was selling at $32 a share. My statement indicated my investment instead was      put on a Vanguard money market fund. I called, and was told this was a "settlement fund." Vanguard refused my efforts to speak with a manager, and lied to me stating      their tapes did not indicate any Delta investment. I complained to FINRA. They admitted that I was told my investment in Delta was complete, and reluctantly backdated   my investment. Of course, they offered neither an apology, nor an explanation.

Vanguard has never allowed me to speak with a senior official despite my repeated requests. I have made requests for the taped conversations. Of course these requests were refused.

My father had the upmost trust in this company and now that he has passed on, I find that they are as helpful, honest and polite as he said they were. They are happy to do a bit of hand-holding with me, as I figure out how best to manage my affairs. I could not recommend them more highly !!!

Haven’t heard from customer service at all. Frustrating company to try and settle with. Paid this bill over a year ago still hurting my score

It's nearly impossible to get a hold of someone to pay. I have tried to email the company or find an online payment system. It is ridiculous!

I've been using Vanguard for 23 years now, and I don't really have anything serious to complain about.

If you're comfortable with automation and DIY financials, Vanguard is your go-to company.

For those complaining about long waits on hold, I have to agree. Recently I did need advice regarding some IRA accounts, and I did spend an inordinate amount of time on hold. They did eventually pick up and they did answer my question to my satisfaction. Not a big deal, but they could have done better with a 1+ hour hold time.

Honestly, when selecting anything the comments section is far more revealing than the number rating. Looking at the other reviews people seem to complain about the phone customer service, which is a fair complaint. I don't see any other complaints, and there's not many anyway. Most people seem to only give reviews when they're bad, and I don't see many reviews here in general. So I guess Vanguard is doing OK

Please settle with me because of the pandemic very stressful. I appreciate anything you would be willing to do. Please, I will work with you.

Did get any bills from them Get a different answer every time you talk to agent look at my credit i pay my bills if i get them I have paid them off in FULL and still have done nothing it seems to correct this

I got a call about this bill from Dr visit. Was to be covered by my ins. They sent me info & same day put it on credit report before I even had a chance to contact my insurance company!! Pretty crappy way to do this, if you ask me. They KNEW I had to contact ins comp, I TOLD them that!! Not my fault I didn't get the info they sent me on Saturday, 03/07/2020!!
I was notified by Experian Saturday night and started a Dispute thru them, a few hours later, got another email from them letting me know they had removed it from my credit report with that company!