Complaints

This profile includes complaints for Vanguard Group Of Investment Companies's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  Vanguard Group Of Investment Companies

  200 Vanguard Boulevard Mail Stop G 15 Malvern, PA 19355

• 

  Vanguard Group Of Investment Companies

  455 Devon Park Dr Wayne, PA 19087-1815

• 

  Vanguard Group Of Investment Companies

  2715 W 43rd St Minneapolis, MN 55410

• 

  Vanguard Group

  2525 Water Ridge Pkwy Charlotte, NC 28217-4544

• 

  Vanguard 403 (b) Services

  3201 34th St S # B-300 Saint Petersburg, FL 33711-3828

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:10/26/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I currently have a 401k thru ****** I tried to do a hardship withdrawal. I was told wrong information multiple times. I am fixing to be evicted from my home. They will not help. And keep saying I didn't send all the information when I was told different the first time and the 2nd time. They refused to let me speak to a manager and hung up on me from their call center. I want to be contacted and for my money to be distributed before I get evicted cause of their negligence.

  Business Response

  Date: 11/09/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 31, 2022, regarding a complaint from ******************************* (BBB Case No. ********).

   

  Vanguard has responded to ******************************* directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

   

  Sincerely,

   

  Vanguard Participant Services

  Customer Answer

  Date: 11/10/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  *******************************
  

• Initial Complaint

  Date:10/25/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  In August I requested a hardship withdrawal for my own 401k. Once requested I was told to submit supporting documents. I submitted my original bills. Then I received notification they also needed the EOB. So I requested this from my health insurance which took awhile to get. Once received I also sent my EOB. About time I sent the EOB the timeframe expired and i was told that withdrawal request was closed so I would have to create a new withdrawal request. I advised the representative that it was lots of documents I sent thay was the originals. I was advised by the representative that that's OK. Long as I send something in writing requesting them to transfer my personal documents to the new withdrawal request it can be done. I requested a new withdrawal request since the other closed since all documents were received by a certain. Time frame. At this point. All my documents I already sent to Vanguard, so I requested in writing them to take all my documents from my prior account and transfer to my new withdrawal account for review. I am requesting financial hardship. The goal is to help myself pay some medical bills down and off so it won't affect me paying other bills and have it cut of or evicted. With covid and hours cut short, my child has cerbal palsy I have tone of past new bill I just want to pay off to start clean before holidays. This is my 401k. I have supports to show I am in hardship. I submitted all that has been requested. I have been getting the run around and now I have been told my personal documents I submitted I can't transfer to the new claim. This is delay of processing my claim. And not okay. If I don't get these bills paid soon, I will have to leave my home, return my car which will cause no tranportation to take my disabled daughternd to her appointments. Leave my home if I can't have a clean slate by paying off off the past due medical and demtal bills. Which I should be able to when I have a hardship program under my 401k plan.

  Business Response

  Date: 11/09/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 26, 2022, regarding a complaint from ***************************** (BBB Case No. ********).

   

  Vanguard has responded to ***************************** directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

   

  Sincerely,

   

  Vanguard Participant Services

• Initial Complaint

  Date:10/24/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My husband passed away in August 2022 and I contacted Vanguard in late Sept. All the information was sent to have his account transferred. Early Oct I spoke with a representative who had me open a Vanguard account so my husband account could be transferred. I was told every thing was all set and I should see the transfer in 7-10 days. Today, October 24th I called as the money had not transferred into my account. When I called I was put on hold with a wait time for 10-20 minutes. The call was transferred to a Beneficiary specialist who looked into the account and told me that for some reason it had been placed on hold and not filed. That she would need to file it now with my permission. I would again have to wait 7-10 to see this transfer of the IRA account. During all this time no one called be to say that there was a problem or something that needed to be checked on the transfer in fact I had call the week before and was told it had only been 6 business days since the first request was processed. That all was fine. All very confusing and very unprofessional.

  Business Response

  Date: 10/31/2022

  October 27, 2022  
  

   

  Dear *** *******:  
  

   

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated October 24, 2022, regarding a complaint from ******** ********. For your reference, we have  enclosed a copy of your letter as Exhibit A.  

  
  Vanguard has responded to ******** ******** directly in writing. If you have additional questions, or if  we can be of further assistance, feel free to respond to this email.  
  

   

  Sincerely,  
  Vanguard Retail Investor Group  
  

  Customer Answer

  Date: 10/31/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  Thank you. My late husband account has been put in my name.

  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  *********************************
  

• Initial Complaint

  Date:10/21/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I requested and mailed in a hardship withdrawal. It was received on Sept 20. On Sept 26, I received a letter requesting additional information. I called and was told to provide a letter from the doctor' office ot a insurance denial. I faxed this information. I then received another letter requesting additional information. I called again and they advised all I need was an explanation of benefits. I faxed this information. On Oct 13, I received yet another letter requesting more info. I called and they advised nothing else was needed and that the pay date was Oct 13 and I would receive funds within 2 to 3 business days. I called back the following week to confirm and they advised again that pay date was Oct 13 and to call back on Oct 18 if not received. I called yet again on Oct 18 and they advised that wasn't correct and they needed more information. I advised that I provided everything that had been requested to include Explaination of benefits, itemized bill, denial from insurance, and collection notice. They just advised to send the same forms. I requested to speak to someone else and they hung up. I called back and requested a supervisor and they said it would take another business day. She then transferred me over to another department who advised the previous fax was never received. Requested that I resend and it should be approved. Also advised to call and confirm fax was received. I called the following day and they confirmed it was received. Tonight I received another message indicating unable to process and needed an explanation of benefits or denial (which I have already provided). If needed I can provide all of my faxes and all the messages received by Vanguard. Please help.

  Business Response

  Date: 11/09/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 21, 2022, regarding a complaint from *********************** (BBB Case No. ********).

   

  Vanguard has responded to *********************** directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

   

  Sincerely,

   

  Vanguard Participant Services

• Initial Complaint

  Date:10/20/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I had applied for a loan of $10,000 from my Vanguard 401K account. The loan was approved per Vanguard's message system on 9/27/22. Their website and their representative said it was supposed to be received in 7-10 business days. I have been calling since last week and have called three times including today to tell them that it has not been received. And due to unforeseen circumstances, I cannot pay back this loan as I may be forced to retire on 11/21/22, so I told them just cancel the check and put it the $10K back into my 401K. They said they cannot do that and they said even though I have not received the check I will be responsible for payments starting on 10/26/22 out of my paycheck. They said they cannot cancel the loan and that I have to go get a Fed Ex account as they canceled my check which never arrived and that I will be billed for the fed ex shipping of the check. I am very upset because they said there was no one to route my call to besides the people that the phone call goes to initially. Besides the fact of having to call them and getting hung up on, or their automated service doesn't route me to the right place, etc., I don't understand why this loan cannot be canceled if it hasn't even been received. Also, they would not give me a *** ** routing number tonight so that I can track the package and now they are telling me that it could be 3-5 business days before I receive it even though I asked them to ship it overnight with ***** so once I receive the check I can turn right back around and send them back the entire amount of money because apparently once I no longer have the job I have to pay the 401K back immediately. Please assist if possible. I am not understanding why the burden is being put on me to pay for ***** shipping when clearly this is not something I can control that they didn't send the check or put a trace on it or something. I would like to know if there is anyway that you can help. Thanks!

  Business Response

  Date: 10/31/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 21, 2022, regarding a complaint from ***************************** (BBB Case No. ********). Vanguard has responded to ***************************** directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

   

  Sincerely,

   

  Vanguard Participant Services

  Customer Answer

  Date: 11/02/2022

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because:
  I had contacted Vanguard approximately 4 times after the check was supposedly issued on 9/26, expressing to them that I needed the check right away because I was using the loan to pay off another higher payment loan that I had and I couldn't afford to pay them both on 10/26.  Every time that I called them they told me just wait even though I specifically asked them to cancel the loan and the check, they refused right up until the next to last time I called them.  I did also ask them if they could direct deposit to my checking account iat my credit union so I wouldn't be left in a bind but they said they could not.  Because of their lack of follow thru on canceling the check and because I couldn't be caught in a bind of paying two loan payments on 10/26, they told me to go get a ***** account number which I did and they overnighted the replacement check to me at a preposterous rate of $126.82 thru *****.  I feel that since they wouldn't cancel the check when I originally called beginning of October, they should have to pay the ***** charge as they left me scrambling with no alternative and I would've never thought that an overnight of a paper check would be that outrageously expensive.  Vanguard also told me that they could not delay the loan payment on October 26th even though I never had received the first check. This unwillingness to work with me on the check cancellation and repeatedly telling me to wait should firmly place the blame and resulting ***** charge on them.  Although I did finally receive the 401K loan check because of Vanguard's refusal to cancel the loan and reissue after numerous calls to them, I had to have the loan check sent ***** charged to me overnighted because they kept telling me to just wait and therefore causing me to have to pay $126.82

  Regards,

  *****************************

  Business Response

  Date: 11/09/2022

  Dear ******************:

   

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated November 3, 2022, regarding a follow-up complaint from ***************************** (BBB Case No. ********).

   

  Vanguard has responded to ***************************** directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

   

  Sincerely,

   

  Vanguard Participant Services

• Initial Complaint

  Date:10/20/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been attempting to roll over my 401K. It has been over two months since my funds were withdrawn, and my account closed, yet I have not received the funds. They refuse to allow me to speak to a manager or escalate the issue.

  Business Response

  Date: 11/09/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 21, 2022, regarding a complaint from ************************************* (BBB Case No. ********).

   

  Vanguard has responded to ************************************* directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

   

  Sincerely,

   

  Vanguard Participant Services

• Initial Complaint

  Date:10/20/2022

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been named POA of an account. Part of my POA duty is to move the account funds into a trust. Every time I call, I am told I need a form for (insert reason here) and have a form sent. I have completed all forms requested, included everything asked for such as POA legal paperwork, notary signatures, account numbers, etc. All forms have been completed and sent via registered mail and I have electronic signature of receipt. I have been told that there is no such paperwork on file. No one sees a request. I am then transferred to several other people, and told the same story. "They can't see the file, someone else in another department has to look." Basically, Vanguard will not allow me to make the transaction to remove the funds. I have been refused the option to speak with ANYONE regarding this situation. There is no customer service number, email, chat - nothing. I KNOW they got the paperwork in July 2022. We have the signature. I am VERY concerned that Vanguard is refusing to disperse for nefarious reasons. I will be filing a complaint with the SEC as well and asking for an investigation into the years of complaints along this same theme - people unable to get their money. I want an EMAIL address of someone who can actually review the file and ensure the transaction is handled. I DO NOT WANT ANOTHER USELESS PHONE NUMBER.

  Business Response

  Date: 11/09/2022

  November 1, 2022  
  

  Dear *** *******:  
  

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated October 20, 2022 regarding a complaint from Diane Helmick. For your reference, we have  enclosed a copy of your letter as Exhibit A.  
  Vanguard has responded to ***** ******* directly in writing. If you have additional questions, or if we  can be of further assistance, feel free to respond to this email.  
  

  Sincerely,  
  Vanguard Retail Investor Group  

• Initial Complaint

  Date:10/19/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Trying to perform a partial roll over (in service withdrawal) from my Vanguard account to an IRA account. They issued the check to an incorrect account, an old account that was closed with another company. My previous contact at that company called me and I drove over and got the check from him. I have been trying for over a month to get it streight with ten phone calles. I have been assured 3 times that the check I have was cancelled and a new one was sent to the correct account, now I figure thet are lieing.. Funds were removed from my account and I am stuck holding a usless check.

  Business Response

  Date: 10/31/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 21, 2022, regarding a complaint from *************************** (BBB Case No. ********). Vanguard has responded to *************************** directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

   

  Sincerely,

   

  Vanguard Participant Services

• Initial Complaint

  Date:10/18/2022

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Every month I deposit money into my 401K and we have the option to pull money as a withdrawal or a loan. I have an eviction notice and one of the withdrawal options is to prevent eviction or foreclosure, please provide the notice. I have sent them a new notice every month of the same notice as I can't catch up hence the reason why I'm requesting this withdrawal. Every month they have said it's not a clear document and they there's nothing else I can provide besides the notice to get my withdrawal. I have sent them the original document in all cases and this is their response, however, it is legible. I have asked them to get the original that I sent to confirm I have asked to speak to a supervisor on all occasions and have still yet to hear back and get this resolved. Again I am sending them the original document and the copy they upload to their system is unclear so I ask them to get the original document I send in and they say they will reach out to that department. Same thing every month. I am just asking for access to my own money. I have attached a picture of the legible document I sent them.

  Business Response

  Date: 10/31/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 21, 2022, regarding a complaint from ********************************* (BBB Case No. ********).

   

  Vanguard has responded to ********************************* directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

   

  Sincerely,

   

  Vanguard Participant Services

• Initial Complaint

  Date:10/18/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  After attempting to initiate a loan through Vanguard, they were supposed to send funds through bank transfer. The bank transfer failed, and rather than contact me, they issued a check that was sent to an old address and never received. It has been more than a year now, and we are still being charged interest on a loan for funds we never received. When "customer service" is called, they say that we need to sign a new form so they can send out a new check, which never arrives. They claim that there is NO other way to receive the funds, and that there is no way for them to verify that a check was sent or for us to track it. In the most recent of many calls, I spoke to Marciel T******** at a call center in Philippines who claims that they do not have any supervisors and there are no other departments that handle these issues. Since it is clearly impossible for a check to be sent properly, and they refuse to send funds any other way, there is never any way to receive the money, making the interest we are being charged essentially theft.

  Business Response

  Date: 10/31/2022

  We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 21, 2022, regarding a complaint from ********************* (BBB Case No. ********).

   

  Vanguard has responded to ********************* directly in writing. If you have additional questions, or if we can be of further assistance, please feel free to contact us.

   

  Sincerely,

   

  Vanguard Participant Services