I just sent this message to the clark team but thought I would throw it here, too. I/we have a Vanguard customer-no-service horror story and are wondering what our recourse is at this point? We are trying to transfer a trust account from Vanguard to Fidelity. Due to my father’s passing in October of 2021, there have been adjustments to the trustees on the account. We have submitted the necessary paperwork, not to mention spent at least 5 hours on the phone with them, but Vanguard has still not completed the necessary changes so that the account can be transferred out and we can’t get them to explain why. Every time we try to message them through the portal, if they respond, it is by telling us that we need to call again. The account is ‘restricted’ because of all this and basically it feels like they’re holding it hostage. Is it time to get our lawyer involved?
You might try a high-profile social media campaign first. It would be a whole lot less expensive and probably faster. If you’re not up to the task yourself, try to find a family member or friend who is.
I’m sure Vanguard has a large “vanguard of lawyers” at their beck-and-call anytime they need them.
I’ve used YouTube in the past and I’m two for two for the kind of problem you describe.
The campaign sounds like a good idea to try.
Unfortunately, Vanguard horror stories are not rare. A few years ago, at Clark’s suggestion, I in turn suggested usage of Vanguard to a relative who did an IRA, as I recall. Then, after the relative expired and left it to me, is when the fun began.
I did manage to get the bulk of it, after some haranguing and ridiculous demands by Vanguard, by opening a like-styled account at another institution. Then I ordered migration to the new account. So far so good, but there were dregs. We are talking well under a hundred bucks. The baloney I went thru getting that caused me to declare that I will never voluntarily deal with them. I came really close to just abandoning it because of the sorry customer service.
Oh that reminds me, I also had a stupid Fidelity account that I had cleaned out leaving $0.00 balance but 200 shares of a pump-and-dump stock. They continued to send $0 balance statements. Perhaps they actually put it to bed, or maybe they just cannot find me…
I’ve used both for over twenty years, no problems, no complaints… excellent service from both
I always had Vanguard for my nonretirement account and fidelity for my retirement accounts. Once Mom passed a few years ago I found out that Fidelity has great customer service and Vanguard wasn’t really on the ball with things and never did anything in a timely manner. The only complaint about Fidelity is their website isn’t that friendly to navigate around so the search bar comes in very handy. We have a Fidelity Service center 2 miles down the street so it’s easy to get help anytime I need it.