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Business Profile

Investment Security

Vanguard Group Of Investment Companies

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Security.

Important information

  • Customer Complaint:
    Please be advised that due to the high volume of complaints received for this business, BBB publishes 1 out of every 10 complaints handled through our conciliation process.

Complaints

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

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    Customer Complaints Summary

    • 654 total complaints in the last 3 years.
    • 176 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:10/07/2022

      Type:Service or Repair Issues
      Status:
      Resolved
      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.
      On September 15, 2020, I initiated the transfer of my parents' trust to the 3 beneficiaries on record and as per their Family Trust as both parents have passed. The process begins on a recorded line. The trust was to be distributed 33%, 33.5% and 33.5% to my daughter, my sister and myself. On September 16, the transfer must have begun with one of the beneficiaries (my daughter) only, being given the correct 33%. Then at some point later that day someone at Vanguard initiated the balance not to the other 2 beneficiaries, but didn't note that one beneficiary (my daughter) already received her 33% distribution and proceeded to distribute the balance among all three. I checked the accounts on Saturday September 17 and noticed the error. I emailed the representative who finally called me Monday the 19th. Vanguard claims they have 7-10 days for their transfer department to correct this error. In the meantime I have left continued emails as to the status and asking for Vanguard's error to be rectified immediately. As of Saturday the 24th the accounts are still not corrected. In the meantime I assume we cannot exchange of buy and sell anything in the accounts since they have to go back and transfer the trust account correctly with all the mutual funds within the account before changes can be made individually between the beneficiaries. As of today, 10/07/22 Accounts still not corrected and cash money market fund not correct.

      Customer Answer

      Date: 10/25/2022

      Vanguard has finally corrected their mistake. 

      Thank you,

      ***** ****** 

    • Initial Complaint

      Date:10/06/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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 need dental work done to my mouth immediately I tried pulling money from my plan I provided information from the doctor and all documents of what is needed I can not get services if I do not pay up front vanguard keep asking me for a eob which there is none to provide because I have to pay they money upfront and they keep telling me its nothing they can do and my teeth are literally falling out of my mouth

      Business Response

      Date: 10/25/2022

      BBB of Metro Washington DC and Eastern  Pennsylvania
      1054 Oak Street
      Scranton, PA 18508

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

       

      Re:  ID #******** (*********************)

       

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

       

      We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 6, 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:10/05/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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 was auto enrolled in a Vanguard 401k program when I joined my current employer in April 2022. After several failed attempts to register online, I called Vanguard for assistance. The Vanguard representative explained that online account registration was not possible due to a prior Vanguard account established in my name with a previous employer. He requested I call back when the system had a chance to reset the failed attempts at guessing the zip code associated with the old account. During my next customer service interaction with Vanguard, I was advised the prior account was established in 1995, and there was in fact a business process for merging the two accounts in order to resolve the conflict and proceed with registration. As instructed, I attempted to register 2 weeks later and was successful. Upon completion of registration, I received an error message indicating online account access was blocked as per my request. The message provided a contact number to call to remove the block. I have spoken to 5 different customer service agents since that time and remain unable to access my account online. On 7/27 an agent generated a letter of instruction email which I followed. In subsequent calls to inquire about fulfillment of the request as per the letter of instruction I was advised online access is unable to be granted because there is an incorrect email address linked to my Vanguard profile. I explained that email is not and has never been associated with me and raises concern of potential fraud. The agent said it could be removed later but did not remove it; rather claimed it to be the cause of the blocked access and told me I must contact my employer for resolution. Vanguard needs to resolve the system conflict prohibiting me from obtaining access to my account online. I am unable to view my account details or make changes to my contributions due to this block that was not requested by me.

      Business Response

      Date: 10/25/2022

      We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated October 14, 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:10/04/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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 Wife created a shared common brokerage account on vanguard.com for investment in April 2022, $20,000 from her personal account, but she keyed in wrong SNN number for me when creating the common account, so I cannot access to it from my profile (not shown in my profile), or she can transact within this account, or cancel this account. We found the problem immediately and tried to contact Vanguard *************) to solve the problem ever since end of April 2022 till today. It is SOOO HARD to find an agent to talk to you, then they require me to send my W9 to their prescribed address, which I did 3 times, but then the next time I manage to reach them, they always say they haven't received it. Upon our persistent pleading, they let us fax them, we did again and again based on our communication, but they just say they cannot read it. Then upon our request, we upload it online, no response from them (on the phone they agree they will either let me access to it properly or let us cancel this account upon receiving my W9 form), now I uploaded 2 times, messaged them 2 times, cannot really reach anyone who can help solve the problem. They really don't give me the confidence they will help solve the problem. They never call us back to follow up, and it looks impossible for us to reach someone from Vanguard that can really help to get our $20,000 back. My name is ***************************, my wife ***************, the common account #: ****************************************************************

      Business Response

      Date: 10/11/2022

      October 10, 2022 

       

      Dear *** *******: 

       

      We are writing on behalf of The Vanguard Group Inc. (“Vanguard”) in response to your letter dated October 4, 2022, regarding a complaint from ****** *******. For your reference, I have enclosed a copy  of your letter as Exhibit A. 

       

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

       

      Sincerely, 
      Chad B***** 
      Executive Correspondent 
      Vanguard Retail Investor Group

    • Initial Complaint

      Date:10/03/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      On March 22, 2022, I bought a total of $7000.00 on shares/investments at Vanguard Group. My investment consisted of $4000.00 in a Brokerage Account, $2000.00 in a Roth IRA and had $1000 in reserve account. Recently I encountered a family issue and I decided to liquidate all the investments with Vanguard to help me alleviate the expenses facing at the moment. On October 3, 2022, I placed a call to Vanguard Investments and I was able to liquidate the Roth IRA and Reserve account. However, when I attempted to liquidate the Brokerage Account, I was told that I this transaction was not possible and encountered major difficulties dealing with the Vanguard Representative Julia F****** who refused to make the transaction and return the funds back into my account. Due to the several unsuccessful attempts to accomplish this transaction with Ms. F******, I requested to speak with a supervisor, however, she told me that there was no supervisor on duty and refused to transfer my call to someone else that could help. Ms. F****** instead told me that someone would contact me after 24 to 72 hours. During the several attempts trying to complete this transaction, Ms. F****** demanded private and secured information from my back account and stating that in order to complete this transaction she had to have this information, otherwise, that I was not going to liquidate the account. My bank representative was informed of the requested made by Ms. F****** to be able for her to complete this transaction, and I was warned against it due to major safety concerns regarding my bank in formation. After I refused to provide the bank information Ms. F******, she told me that I was not going to be able to make the transaction unless I provide my back information. I am filing this compliant because Vanguard Group has made it impossible and had refused to complete my request and liquidate the remaining of my investments with them. Thank you.

      Business Response

      Date: 10/25/2022

      October 13, 2022 


      Dear *** *******:  

       

      We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated October 4, 2022, regarding a complaint from ***** ********. For your reference, I 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:10/03/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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 initiated a rollover from my ************ **** Roth to my Vanguard account on 7/26/2022. The money was placed into the wrong account and placed in a Traditional IRA rather than to a Roth IRA. I contacted Vanguard who requested information from ************ that this was a Roth to Roth transfer, which was forwarded to Vanguard. I contacted Vanguard again by phone who told me it was a mistake on their part and would be corrected within 5-7 business days. It has been over 4 weeks without correction. I am again trying to contact by phone but difficult to reach anyone who understands what has been going on. Also online messaging center is disabled.

      Business Response

      Date: 10/25/2022

      October 11, 2022  


      Dear *** *******,  

       

      We are writing on behalf of The Vanguard Group Inc. (“Vanguard”) in response to your letter dated  October 04, regarding a complaint from ****** ******. For your reference, I have enclosed a copy of  your letter as Exhibit A.  

       

      Please know that Vanguard has previously responded to ****** ****** directly in writing concerning  this issue. If you have additional questions, or if I can be of further assistance, feel free to contact me  directly.  

       

      Sincerely,  
      Vanguard Retail Investor Group  

    • Initial Complaint

      Date:09/28/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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 I started a hardship request July 2022 and as of today September 2022 my request is still pending additional documentation this was for medical services for dependent I have provided every possible document you can imagine as of today I provided the explanation of benefits which was the final document vanguard said they needed I just received another alert stating that they cannot process my request because I need to provide additional documentation at this point I would like for someone to specifically tell me what other document other than the explanation of benefits medical records verification of insurance proof of payment what else could you possibly need I even provided my dependence birth certificate additionally the representatives that you speak with repeat the same information over and over and over again which is more frustrating and when you need to escalate a situation such as this there is no one to talk to you even have to wait 24 hours to get a call back from a supervisor once you speak with the supervisor there is absolutely nothing they can do but take a chance on submitting the request right back to the same people who denied it causing an additional 3-day wait at this point I do not have access to my own funds through my employer sponsor plan although I have provided every document under the specific requests for medical I would like for someone at vanguard to tell me what else is needed to approve my hardship with quest which has been ongoing for 3 months. If I could remove the entire plan I would.

      Business Response

      Date: 10/11/2022

      October 6, 2022  

      Dear *** *******:  

      I am responding on Vanguard’s behalf in response to your request for information concerning complaint ID  ********. The complaint concerns an employer-sponsored retirement plan account. For your reference,  I have enclosed a copy of the complaint as Exhibit A.  

      Vanguard will be responding directly to the complainant regarding this issue, and we consider the matter  closed. We ask that the complainant please allow at least three business days to receive Vanguard's  response via secure email.  

      If you have any additional questions, or if I can be of any further assistance, please contact me by phone at ************. 

      Sincerely,  
      Vanguard Compliance Department  

    • Initial Complaint

      Date:09/28/2022

      Type:Product Issues
      Status:
      Answered
      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.
      Vanguard has withheld money from me. I have contacted them about ten times about this matter. They continue to pass me around, not pay me back, and ignore my requests. The ONE letter I did get from them in my client portal assured me the money was coming, yet it was owed to me 3-5 days upon filing the letter. This was about six weeks ago. It is obvious they are attempting to see if and when I will simply stop trying to get my money back.They put in incorrect information into my banking information, therefore messing up my withdrawal. In doing so, I had late fees at my bank. I contacted them immediately and they admitted their error and agreed to pay said overdraft fee. Since then they have "gone missing" and won't pay me. I have attached their one reply, but I can assure they have done nothing about this. Again, I was told six weeks ago it was their fault and it would be 3-5 days. They keep repeating that it's coming but do nothing.

      Business Response

      Date: 10/25/2022

      October 24, 2022 
      Dear ******** *******:  

       

      I am responding on Vanguard’s behalf in response to your request for information concerning complaint ID ********. The complaint concerns an employer-sponsored retirement plan account. For your reference, I  have enclosed a copy of the complaint as Exhibit A.  

       

      Vanguard will be responding directly to the complainant regarding this issue, and we consider the matter  closed. We ask that the complainant please allow at least three business days to receive Vanguard's response  through their Secure Message Center on our website.  

       

      If you have any additional questions, or if I can be of any further assistance, please contact me by phone at  ###-###-####. 

       

      Sincerely,  
      Vanguard Compliance Department  

    • Initial Complaint

      Date:09/28/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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 sent all docs on 20th September & called to verify it was correct. The hardship withdrawal to help with closing costs for a home for me and my three kids. And twice a representative told me they sent the information and twice hardship has said they didnt received it. Constantly being told it then again take 2-3 business days. No manager was available to help me. When asked who is lying if you say your sending it or is it hardship about receiving it? Another rep even told me THEY DONT SEE THE URGENCY of me needing to speak to a manager about this situation. I told him this is about a home for my kids and thats how vanguard feels because you represent them? Thank God for recorded lines cause I have the dates and times I called as well. You have a VA loan closing cost estimate and playing with lives. A simple transaction results in this. ??

      Business Response

      Date: 10/12/2022

      October 12, 2022  

       

      Dear *** *******:  

       

      I am responding on Vanguard’s behalf in response to your request for information concerning complaint ID ********. The complaint concerns an employer-sponsored retirement plan account. For your reference, I  have enclosed a copy of the complaint as Exhibit A.  

       

      Vanguard will be responding directly to the complainant regarding this issue, and we consider the matter closed. We ask that the complainant please allow at least three business days to receive Vanguard's response through their Secure Message Center on our website.  

       

      If you have any additional questions, or if I can be of any further assistance, please contact me by phone at ###-###-####. 

       

      Sincerely,  
      Vanguard Compliance Department  

    • Initial Complaint

      Date:09/27/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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 mother has two investment accounts with Vanguard. I have had to obtain legal guardianship in the state of New Hampshire because she is no longer able to care for herself. I received this guardianship on April 7,2022. I have sent the court documents showing my legal guardianship along with a court appointed access form 3 times to file for custodial access to these funds to pay for her care. I sent the documents twice via certified mail with return receipt with proof of receipt at their end. I then sent the documents via Overnight mail on August 27 with proof of receipt. I have called on 13 separate occasions and all parties I have spoken to have not been helpful. I have asked repeatedly to have my request forwarded to manager without success. My lawyer has also contacted them on my behalf without any response. The case numbers I have for this issue are ******* and *******.

      Business Response

      Date: 10/11/2022

      October 6, 2022 

       

      Dear *** ******* 

       

      We are writing on behalf of The Vanguard Group (“Vanguard”) in response to your letter dated September 28, 2022, regarding a complaint from ****** *****. For your reference, I have enclosed a  copy of your letter as Exhibit A. 

       

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

       

      Sincerely, 
      Vanguard Compliance Department

    Vanguard Group Of Investment Companies is NOT a BBB Accredited Business.

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