After 15 years and > $1M invested, I need to move everything to another brokerage. I have only ever used Vanguard and still believe very much in the "boglehead" approach to investing, but I will be moving all of my investments to another brokerage. Vanguard's customer service has gotten so bad that I never want to deal with it again, and thought to share my experience as Vanguard is still so frequently recommended on /r/personalfinance.
Summary of events for my recent request to transfer a Vanguard (company sponsored) 401k to my existing Vanguard IRAs:
-
6 calls
-
+2 hrs of being on hold (not including call automated call-backs)
-
+30 min on hold during which the rep was "looking up the appropriate team to transfer me to"
-
6 transfers
-
3 transfers dropped
-
3 times where I was told the correct # to call if transfer was dropped is the same exact # that I originally called (and was talking to the person transferring me from).
And then, after all of that, Vanguard's rep tried to push for having me sign up for use of a "personal investor". They only confirmed the .3% fee after I explicitly pointed out that this is not a free offering and goes against my boglehead approach to reduce fees if at all possible.
This is beyond pathetic and not a company I trust my life investments with any longer.
So which brokerage is worth moving to? Fidelity, Schwab... something else?
Submitted November 23, 2021 at 11:27AM by _work_redditor_ https://ift.tt/3DObuya
