I have multiple Vanguard mutual-fund-only accounts and have received no such notice.
Added… I just called and verified… I’m not being charged a fee for my mutual-fund-only accounts.
Depends on the balance. No I’m not asking.
Are you the primary account holder using e-delivery?
Just annoying process. Still thinking of moving assets instead of dealing with them.
I was a vanguard guy but after the disaster of their target funds and their no customer support on the phone , I move everything to Fidelity.
Fidelity had great website/App. They actually answered calls on their 800 number and they actually have local offices too.
Best of both worlds!
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What happened with the Target funds? I have never had a Target fund… I am more a roll your own Guy.
I am in Stocks with a nice percent in Wellington.
Wellington is my idea of a Target Fund…
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My father died in 2020 leaving a Vanguard IRA with a balance of $354. We, the heirs, have given up on ever getting this account closed.
They send me paper statements every quarter.
Vanguard now has. An app that does not work and a website full of bugs. I plan to move my funds to Fidelity.
I reported major Fidelity and Schwab charting and technical indicator bugs on Reddit r/investing yesterday. No place is perfect but seems Vanguard less perfect than others. Fidelity has a great HSA which makes it unique.
Sad part is VG had a great website but for some reason had to change it. I suspect they did it so the same gui would flow with their app. Maybe its just me or I don’t want to re-learn it but things don’t flow as easy and it takes more clicks and navigation to get the same info I used to.
FYI, Blackrock and Vanguard are two of the biggest pushers of ESG initiatives, if that makes a difference to you. Also Vanguard has been almost impossible to talk to a live human.
Ameritrade will soon be owned by Schwab. Schwab and Fidelity are a coin toss. I like Fidelity’s 52 week analysis of where the current stock price falls, but Schwab has superior tools to analyze performance. I have got accounts at both.
Use your admiral contact line. Live person first or second ring every time.
ESG refers to Environmental, Social, and Governance investing. Vanguard this month changed policy and withdrew from the NZAM, the Net Zero (emissions) Asset Managers initiative because the initiative conflicted with the role of index funds. Vanguard’s statement: An update on our engagement with NZAM | Vanguard
ESG is the new “Socially Responsible” investing buzzword and there are no standards behind the metric. Its a new feel-good label that you can put on a piece of paper…
As long as they continue supporting initiatives of racial discrimination in hiring and awarding contracts (the “social” in ESG), I am not interested in dealing with them.
Or vote on Companies’ proxies that Vanguard owns, which it does. Alongside public pension managers.
Time to pull our cash from companies that support nefarious policies to the detriment of our country
JD Power conducted a satisfaction survey with 3,723 DIY investor respondents . Vanguard and Fidelity topped the list of 12 companies with scores of 704 and 703 respectivel on a 1,000-point scale. Charles Schwab ranked 7th with a score of 661. I wonder if the TD Ameritrade component of Charles Schwab affected Schwab’s overall score.
Charles Schwab Bank Ranks #1 in Customer Satisfaction Among Both Checking and Savings Providers in J.D. Power 2025 U.S. Direct Banking Satisfaction Study
Only problem is… the interest rate is very, very low.
My Perspective on the Article
Despite growing concerns—lagging customer service, outdated tech systems, and the rollout of questionable new products—the author isn’t walking away from Vanguard. Why? In a word: trust.
While other brokerage firms like Schwab and Fidelity may offer sleeker platforms, more proactive advisors, and attractive financial incentives to switch, they also come with structural conflicts of interest. Schwab is publicly traded, and Fidelity is largely family-owned, but Vanguard is owned by its investors—a distinction that, in the author’s view (and mine), makes all the difference.
A clear example of that alignment is visible in cash yields as of late June:
- Vanguard Federal Money Market: 1.38%
- Fidelity FCASH: 0.69%
- Schwab Uninvested Cash: 0.15%
That disparity isn’t just academic—it translates to real dollars lost or gained. And Schwab’s recent $187 million SEC settlement tied to robo-advisor cash practices only reinforces the concern.
The author acknowledges Vanguard’s imperfections—particularly the lag in tech investment and customer service—but sees a firm still guided by a mission to put investors first. Despite holding accounts at both Schwab and Fidelity, they’ve chosen to keep the majority of their assets with Vanguard. That philosophy of minimizing conflicts, prioritizing transparency, and sharing profits with investors has earned their continued trust.
They leave us with a thoughtful hope: that time will validate that trust, and eventually justify writing a follow-up piece on Vanguard’s improvements.
My Personal Experience
I resonate with much of what the author expressed. I still hold investments with Vanguard and once used their advisory services, though I’ve since stepped away. To be candid, their customer service has declined—and it’s noticeable.
In contrast, I also invest through Schwab, and my experience there has been far more positive. Their platform is more robust, the tools are abundant, and the wealth advisory services I use feel meaningfully more personal. That said, I suspect I’m paying more for that personalized experience—even if it’s tough to precisely measure the difference.
When it comes down to it, choosing a financial partner is a personal decision. Whether it’s Vanguard, Schwab, Fidelity, or another firm, the best choice is the one that fits your goals, values, and the relationship you want to build. And it’s worth remembering: many independent advisors also choose one of these three to custody their clients’ assets—a reminder that none of them is a one-size-fits-all solution.
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