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 403 (b) Services

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

• 

  Vanguard Group Of Investment Companies

  PO Box 2600 Valley Forge, PA 19482-2600

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:09/13/2022

  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.

  Over two years ago, ************************ gave their employees the opportunity to sign up for a retirement account with Vanguard. At the time I signed up, a wrong social security number and wrong address number was entered on my application either by my employer or by Vanguard. I made numerous phone calls to get it resolved and Vanguard handled it by creating a new retirement account. I was told that in six months, the old account would automatically be dropped and only the new one would remain. That has never happened. I have made numerous calls (too. many to count) over the last two years to get this resolved. However, it is still in the same state as it was initially. I cannot access my correct account. It says user is blocked and when I attempt to do so, it says the balance is $0. I have been working with Dominga on this and she has done a great job understanding the issues but has been unable to get the tech department to make any changes to my account. Even my employer is unable to get any resolution with Vanguard. Will you please help me get this issue resolved? Two years has been too long! I have expected more professionalism from a company of this size. I am only asking that the erroneous account be dropped and for me to be able to access my correct account without further complications. Thank you for your assistance!

  Business Response

  Date: 09/28/2022

  September 26, 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 the Vanguard Secure Email Service. 
  If you have any additional questions, or if I can be of any further assistance, please contact me by phone at 800-523-1188. 
  Sincerely,  
  Vanguard Compliance Department  
  
  

• Initial Complaint

  Date:09/13/2022

  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 over $100,000 sitting in my Vanguard account I try to withdraw it because I don't like banking with Vanguard I was going to withdraw it into my bank account and transfer into my ** ********** and they restricted my account and told me that someone is going to be in contact with me within 48 to 72 hours. That never happened so I kept calling and calling and I kept getting the same answer in the same result no one calling my phone to figure out what's going on. it's been over a month and they have the audacity to still send me statements with my current $125,000 balance. I have spoken to some lawyers and I'm looking to file a lawsuit against them for damages for my money being held for this long with no reasoning.

  Business Response

  Date: 09/21/2022

  September 21, 2022 
  

   

  Dear *** *******: 
  

   

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated September 14, 2022, regarding a complaint from ******** **************. For your reference, we have enclosed a copy of your letter as Exhibit A. 

  
  We have researched the client’s complaint and discovered that *** ************** is a known fraudster.  Vanguard will therefore not be responding to *** ************** concerning this matter. If you have  additional questions, or if we can be of further assistance, feel free to contact us directly. 
  

   

  Sincerely, 
  Vanguard Compliance Department 
  
  

• Initial Complaint

  Date:09/10/2022

  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 requested a withdrawal from my 401k on 8/20/2022, the requested funds were sent to the wrong account and has not been rejected by the bank ****. I contacted **** and they said the funds didn't reject.I am still without the funds and both vendors have not responded to me nor my request for research and recovery. I have essentially been blamed for having incorrect information on file and both have stopped communicating.

  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 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 
  
  

  Customer Answer

  Date: 10/12/2022

  [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:09/09/2022

  Type:Product 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.

  My mother had a retirement account through her employer with Vanguard. My mom passed away on 11/22/21. The beneficiary on the account is my father. My father has appointed me to be his power of attorney. We had documents prepared by a licensed document preparer. I submitted the documents we had prepared and they were not enough for Vanguard. Vanguard send us their own Power of Attorney form in which we needed to fill out and have notarized. My father lives 5 hours away so I had to make a special trip to get this taken care of. I sent the documents in and heard nothing. I called back a couple months later in which I was told the documents were not received. I again had to make a 2nd trip to my dad's to have another set of forms notarized. These have been sent in. We received a response at my deceased mother's address (in which no one lives at) stating that it was the incorrect form as my dad is the beneficiary. I called on 08/31/22 and spoke with Reonne. I was told the account would be transferred to my father's name and then we could submit power of attorney. During this call I was told that Vanguard had given me misinformation and did not process our request correctly. I was told I would be contacted by Holly within 1-2 business days. I never received a call. I called this morning 09/09/22 and spoke with Ken and requested to speak to a supervisor. He stated a supervisor was unavailable and that he created an "urgent" case (Case #*******) and I should receive a call on Monday 09/12/22. During this time the stock market has declined and we have lost over $20,000 due to Vanguards errors, in which are still not resolved.

  Business Response

  Date: 09/26/2022

  September 26, 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 the Vanguard Secure Email Service. 
  

   

  If you have any additional questions, or if I can be of any further assistance, please contact me by phone at  800-523-1188. 
  

   

  Sincerely,  
  Vanguard Compliance Department  
  

  Customer Answer

  Date: 10/03/2022

  [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:
  After filling this complaint a supervisor did call and left me a message as I was at work and unable to answer.  She did not leave a call back number.  Today 10/03 I called the ************ number to follow up.  The lady on the phone could not help me and stated a supervisor would call in 1-2 business days.  This is unacceptable as I will be at work and will most likely be unable to answer the call yet again.  I cannot just answer my phone when it rings while I am at work.  She also stated I need to go through my mother's employer as this was an employer sponsored plan.  They were the ones that forwarded the Power of Attorney documents in regards to my father.  I contacted them as Vanguard stated they never received the documents after I originally sent them in.  I had to go get documents notarized yet again with my father who is hundreds of miles away from me.  I have submitted Power of attorney docs that we had prepared as well as the power of attorney documents Vanguard has requested.  It has been nearly a year since my Mother's passing and each time that I call I have to explain the situation all over again which brings more grief to the already hard situation.  I have spent numerous hours on the phone with vanguard to ultimately get no where.
  
  Regards,
  
  *****************************
  

  Business Response

  Date: 10/28/2022

  October 27, 2022  
  

   

  Dear *** *******:  
  
  I am responding on Vanguard’s behalf in response to your request for additional 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 again 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 the Vanguard Secure Email Service. 
  
  If you have any additional questions, or if I can be of any further assistance, please contact me by phone at  800-523-1188. 
  
  Sincerely,  
  Vanguard Compliance Department  
  

• Initial Complaint

  Date:09/07/2022

  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 initiated a hardship withdrawal on July 30, 2022, that following week I was advised they couldnt approve the withdrawal because I didnt send the initial form, which I understand, and I sent it, I called them to verify the item was received, the rep said yes, and I should have my funds in 1-3 days, on the 4th day, they advised I was missing other document, I sent that document, called again to verify, again I was advised everything is there and to wait again 1-3 business days, once again. On the 4th day they advised I need to send another document, sent that document as well, 4 days after that I was advised once again I missing another document, sent that as well. When I spoke to the initial rep why didnt he tell me exactly what I was missing and not advising me that they have everything and I should have my funds in 3 days(this happened multiple times) were now in September, I was advised that the loan can not be approved because the loan amount is less than $1,000, vanguard knew the amount from when I applied back in July, but made me send all these documents day after day , call after call, not 1 representative advised that it cant be approved because of the dollar amount, if that was the case, they could have denied it back in July when I applied , rather than have me send numerous documents and countless phone calls to my dr, my insurance company and vanguard. This is extremely unprofessional and a disservice to customers. I asked to speak to a manager and was advised no one can speak to me. I really wish my company would work with a different 401k company.

  Business Response

  Date: 10/05/2022

  October 4, 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:09/07/2022

  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 lost the account access information to my account with Vanguard. For several months, I have reached out to Vanguard requesting account access and I am always denied because I am unable to confirm my previous address. I have requested that a letter be sent to me that I can have certified to prove my identity and Vanguard continues to tell me that I have to reach out to my former employer. I cannot reach out to my former employer because I do not know which employer my account was through, or if it was even through an employer. This account is very old, and that is why I am unsure of how I obtained this account in the first place. Vanguard customer service tells me every time I call that "I have failed security clearance and they have no way to provide me with additional assistance" . I just want to be given the opportunity to gain access to my account by proving my identity so my funds can be transferred out of Vanguard. Vanguard is making this impossible because they only allow phone calls and when I cannot pass security, they tell me to figure it out on my own and end the call. There has to be a way to give me the opportunity to prove my identity.

  Business Response

  Date: 09/21/2022

  September 21, 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 the Vanguard Secure Email Service. 
  

   

  If you have any additional questions, or if I can be of any further assistance, please contact me by phone at  800-523-1188. 
  

   

  Sincerely,  
  Vanguard Compliance Department
  

• Initial Complaint

  Date:09/06/2022

  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.

  We receive mail for someone at our house that has not lived here for a very long time. The mail is addressed to a person who was the original owner. Vanguard needs to invest in technology / services that help it update addresses as needed. We also need Vanguard to contact the recipient so this specific address can be updated. Thank you.

  Business Response

  Date: 09/16/2022

  September 14, 2022   
  

   

  Dear *** *******:  
  

   

  I am responding on Vanguard’s behalf in response to your request for information concerning complaint ID ********. 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  
  

  Customer Answer

  Date: 09/16/2022

  [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:09/02/2022

  Type:Product 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.

  Vanguard cashed a pair of 'lost' checks that had been 'stopped' despite being advised of the situation. The reversal of subsequent account ******************** penalty was cancelled upon internal ******* **** account has a 90 day 'free ride' restriction because of the bounced checks. I rolled-over a former employer 401k fund in early July 2022. I forwarded the check received from my former employer to Vanguard on 08Jul2022. The check appeared to be lost in transit. On 20Jul2022 I cancelled the checks & ordered new ones - & advised Vanguard of the situation on the same day with instructions not to cash the original checks in case they ever received them. I forwarded the new checks, & these were successfully received by vanguard & deposited on 29Jul2022. The cover letter with the checks again explained the situation & further advised them that the original checks had been canceled & to not cash them if they ever received them. Unfortunately, the 'lost' checks did make it to vanguard after a month in **************************** attempted to cash them. The money was invested (2 accounts: **** and regular ***** I contacted Vanguard on 10Aug2022 once these erroneous transactions had been posted. Vanguard advised that the funds had NOT been invested. And there would be NO penalty as a result of the issue. On 19Aug2022 I received correspondence that my Vanguard accounts were in debt. On 22Aug2022 it was clear that the money had been invested before the checks had cashed. The issue was escalated, and ***** advised this was "a Vanguard error" and the transactions would be reversed and removed. This would take 5-7 business days and I would receive an email confirmation once completed. On 01Sep2022 Vanguard advised *****'s corrections had been cancelled upon internal review. Furthermore, my account is now subject to 90-day restriction due to the bounced checks. Vanguard advised on 02Sep2022 that the erroneous transactions, price penalty & 90-day restriction will stay on my account.

  Business Response

  Date: 09/21/2022

  September 20, 2022 
  

   

  Dear *** *******: 
  

   

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated September 6, 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 contact us directly. 
  

   

  Sincerely, 
  Vanguard Compliance Department 
  

  Customer Answer

  Date: 09/21/2022

  [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:09/02/2022

  Type:Product 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 a withdraw from my retirement plan on 8/15/22. i submitted all necessary docs on the same day. i received a denial regarding the landlord/apartment complex documentation that i needed to resubmit. i called vanguard and was told my eviction letter needed to state i can stay ion my dwelling if paid. advised representative that i been using the same eviction my landlord provided to me for a year and its always been approved. i requested to speak with a supervisor and was told i would receive a call back within 24 to 48 hours and never received a call. i went ahead and still submitted eviction stating i can stay in my dwelling if paid. i actually had to submit it 3 times and it kept being denied. I called vanguard during the process and never received a direct answer. i finally spoke with a representative on 8/26/22 and he advised the date of eviction was on 8/11/22 and it needed to have a future date. So i faxed in eviction with a future date of eviction and I received no response for a week. i called vanguard and now there stating they never received a fax. If i don't produce the money to my apartments i will get evicted this is ridiculous. i faxed document in again for the5th or 6th time and asked if it can be expedited because my apartments are not going to cont. to wait. The representative said not able to will have to go through the process. advise this is going to take another 3 to 4 business days i can't wait. Vanguards methods will have people getting evicted and the communication is horrible. I requested for a 2nd time to speak with a supervisor and was told will receive a call within 24 to 48 hours. This is crazy, this company needs to re-evaluate how they do things.

  Business Response

  Date: 09/19/2022

  September 19, 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:09/01/2022

  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 have a retirement fund with vanguard/empower retirement and they have not sent me a statement in about a year. They have sent me papers numerous papers. I called today to get a statement and they majically cant seem to find me even using my entire ssn and name. I had around 3000 one year ago and want to know where it is. please assist me in this matter.

  Business Response

  Date: 09/06/2022

  Hi *******,

   

  Good morning!  Unfortunately, we are unable to find an account for the complainant with the limited information provided.  If its possible for you to obtain additional information regarding the employer the 401(k) was with, the plan number, or copies of the documents she claims were mailed to her, we may be able to locate the account in questions.  Otherwise, we are unable to address this complaint.  It is also very possible that she doesnt have a Vanguard account since she references Empower.  Its possible she has an Empower account that holds Vanguard mutual funds.

  Customer Answer

  Date: 09/06/2022

  [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.  I connected with empower and they found my account. the letterhead had vanguard in big letters and empower in small letters in the corner. Thus the confusion. Sorry for the confusion on my part.
  
  Regards,
  
  ***********************