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 has 10 locations, listed below.

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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:08/31/2022

  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 filed a QDRO back in 2018 have have yet to have it completed. I have called and spoke to plenty of call center personnel that cannot help me or give me any information regarding my case. When asked to speak to someone that can discuss this with me, I was told that I cannot. Numerous representatives from their call center told me that someone in the QDRO would call me back within 24-48 hours this was Tuesday 8/23/22. No one contacted me. I called back on Thursday 8/25/22 and was told that the previous call center representative did not put in a request for callback. So the request was put in on 8/25/22 and was told that it would take 24-48 hours for the callback. No response from Vanguard QDRO department through that time period. I called 8/30/22, again spoke to a call center representative and they told me that the process for callback takes 3-4 business days. As far as I can tell, the call center representatives are not getting the same training. So I waited until the 4th business (8/31/22) day for a callback, it never came. I called back to Vanguard (call center) and was told they had until 5:00pm EST to call me. I called them at 4:15pm EST. Now the call center representative (Princess K*******) said there are no guarantees anyone will call me back. All calls are “on a recorded line” so they have the proof backing up my complaint! I’m done with Vanguard and need to allocate MY retirement funds elsewhere!

  Business Response

  Date: 09/14/2022

  September 13, 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:08/29/2022

  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.

  Vanguard advised us (wife-*******) by several emails and acct messages they wanted us to transition our accounts to their brokerage Accts. We tried. Over computer we did one each and got note saying we must call. We called and talked to a rep who seemed helpful. But 2 accounts got transitioned, not all accounts. The next week we called back. Computer said wait would be 40 minutes, we could leave number and they would call back. Left number no call back. Next week called again. Same process, no call back. Today I called, but didnt leave number. Waited 3 hrs 14 minutes and vanguard disconnected me. Called tonight, similar result. No email to write customer service about problem. I want to do what they want me to do, but they are making it impossible to do, and impossible to contact them for assistance. Maybe they will talk to you, since they refuse to talk to me.

  Business Response

  Date: 09/14/2022

  September 13, 2022  
  Dear Mr. Distler:  
  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your email  dated August 30, 2022, regarding a complaint from John Casey. For your reference, I have enclosed a  copy of your request as Exhibit A.  
  Vanguard has responded to John Casey directly in writing. If you have additional questions, or if we can  be of further assistance, feel free to contact Vanguard directly.  
  Sincerely,  
  Vanguard Compliance Department  
  
  

  Customer Answer

  Date: 09/14/2022

  [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 thank both Vanguard and the BBB for helping with this.
  
  Regards,
  
  *******************
  

• Initial Complaint

  Date:08/29/2022

  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 submitted a completed IRA rollover request to vanguard over a week ago, and was notified I needed to contact them regarding my request. I've spoke to Vanguard four times, and was cut off one time and not called back, and was told on another call that they would get back to me the same day with resolution, and never heard back. The overall service, and lack of information provided has been tremendously inadequate, and frustrating. I simply want the remaining balance in my Vanguard Federal Money Market Fund (Settlement fund), sent in a check to my Principal IRA account ( all info was provided in the Vanguard IRA distribution request form).

  Business Response

  Date: 09/16/2022

  September 9, 2022  
  

   

  Dear *** *******:  
  

   

  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your email  dated August 30, 2022, regarding a complaint from ***** ********. For your reference, I have enclosed  a copy of your request 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 Vanguard directly.  
  

   

  Sincerely,  
  Vanguard Compliance Department  
  

  Customer Answer

  Date: 09/17/2022

  [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:08/26/2022

  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 filed for hardship withdrawl on 8/3/2022. I sent in supporting documentation as requested (tuition bill, birth certificate, financial aid, housing bill). Vanguard sent an email stating they didnt receive 'bc' so I resent it. Called and spoke with rep who confirmed it was received. Three days later, a second email stating need to submit documentation. Called and spoke with rep stating they have it and it is processing. This repeated several times with me re-submitting documents again and getting confirmation from several people has been received. I rec'd a third email stating to submit again. I called them back and requested a supervisor to which she called me back a day later and verbally confirmed she see documents and will be processed and approved. Another email comes in requesting same info and this time when I call back, they state they see 'bc' but no tuition bill. Of course this repeated on for a period of time just as the 'bc' issue. I requested a callback from a second supervisor. No results this supervisor failed to respond until a few days later. By this time, I request a third call back from supervisor. The second supervisor finally calls back and no resolve. I have passed the due date of when the money was needed on top of the hassle of Vanguard continuously loosing my documentation papers. For this supervisor to tell me that the hardship rep over my case states the tuition was missing certain information. After going over the information required which was ON MY BILL, he agreed. All info was there and couldn't understand why she didn't see it. Although I went through this with the first supervisor but ok. He sent the documents back to the hardship dept and I am still awaiting with no resolution. Not to mention the time I had to call every other day and still no resolve. No money, more than 40 calls to vanguard, 5 re-submissions, 3 supervisor requests, 3 open case numbers and 0 resolution.

  Business Response

  Date: 09/12/2022

   September 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  800-523-1188. 
  Sincerely,  
  Vanguard Compliance Department  
  
  

• Initial Complaint

  Date:08/26/2022

  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 a long-term Vanguard customer. Customer service had been one of the hallmarks of Vanguard: prompt response when I (infrequently) called; knowledgeable reps; effective action to address my concern. It was best-in-class, as far as I was concerned. I happily recommended Vanguard to friends and family, both due to its business (investor-owned, great low-cost offerings) and the quality of service. That has completely changed, based upon recent experience. It is now in a class by itself with respect to customer service: absolute worst, in my experience. I have kept substantial assets at Vanguard, including a family trust, for which I am the Trustee. Attempting to close this has been an exercise in frustration. After filling out the Vanguard paperwork for this a check to close the account was issued and received by me. Problem: the payee was me *as Trustee of the Trust*. First the bank holding the estate account that I maintain as Executor of my Mom's estate, and then my credit union refused to deposit it, because of the Payee designation. This prompted my call to Vanguard customer service. I did not realize I was sinking into the morass of that operation until I waited for an hour on hold to talk to a rep who merely told me that I had to talk to the "investment" side of the operation, whereupon I waited an additional hour. That was a week ago, 19 August 2022. I was told that a stop-payment order on the check would be issued...check back in a few days, request issuance of a new check with revised Payee. When a week had gone by and there was no apparent action re this (the funds did not re-appear in the Trust account) I called again, dreading the expected 1-hour wait. First: I was startled to learn that rep #1 had no notes of the previous 19 August conversation; that prompted a re-telling of my story. I was passed from rep #1 to rep #2 to rep #3 to rep #4, who startled me again by telling me the check had been "paid", despite the fact I have the check. Rep #4 was not able to resolve the contradiction: Vanguard's records indicated that the issued check was "paid" despite it still being in my possession, no bank being willing to deposit it. Remarkable for an institution like Vanguard, I would have thought. Rep #4 said that his supervisor would call me within 72 hours, a statement I have near-zero confidence in. As Trustee of this trust, I am apparently out $45,000. Atrocious.

  Business Response

  Date: 09/26/2022

  September 23, 2022 
  

   

  Dear *** *******: 
  

   

  We are writing on behalf of The Vanguard Group Inc. (“Vanguard”) in response to your letter dated August 31, 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
  

• Initial Complaint

  Date:08/25/2022

  Type:Billing 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 received a letter last week from Vanguard advising I would be charged $20 per year for each account I have ( I have many ) plus a $180 fee if I don’t switch over to the new Vanguard Brokerage Account. Not wanting to incur these fees I called on Monday Aug 22nd and spoke with a rep about moving my accounts to brokerage. I was apprehensive and needed to know if anything would change or would I lose anything I had now. The rep assured me it would be completely seamless for me and nothing would change only the names. He told me to call back in a few days to re-set up my check writing ability. When I called back on Thursday Aug 25th, the rep advised I would no longer be able to have a checkbook for both accounts, but only for one. This was not what I was told on Monday or I never would have let him switch my accounts. I asked him to flip me back to what I originally had and he said he was not able to do so. Now it seems I am stuck trying to figure out how to write checks since I no longer have the ability or the checkbooks. I do not appreciate being misled by a financial institute I have trusted for 30 years.

  Business Response

  Date: 09/01/2022

  September 1, 2022 
  Dear *** *******: 
  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated August 29, 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 
  
  

  Customer Answer

  Date: 09/02/2022

  [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:
  
  

  My complaint stands.

  Vanguard lied to me about changing my accounts to brokerage accounts.

  They advised nothing would change but the account names.

  Many things changed.

  I now have to use a very complicated system I do not fully understand and received NO information on how to use.

  I spoke with a manager at Vanguard who listened to the actual recorded conversation and fully admitted I was misled and give incorrect information by one of her agents.

  However, she refused to flip my accounts back or do anything to correct.

  Customers should know Vanguard is staffed by people who provide false information and will NOT correct mistakes THEY made.

  
  Regards,
  
  *****************************
  

  Business Response

  Date: 09/12/2022

  September 12, 2022 
  Dear *** *******: 
  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated September 2, 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 
  
  

• Initial Complaint

  Date:08/25/2022

  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.

  My mother recently passed away, so I contacted Vanguard to inform them that she had passed, that she had an IRA with them, and what steps would I need to take to move her monies from Vanguard. The representative reviewed my mothers account on her end, and informed me that since I was not a beneficiary on her account she couldn’t help me…that her husband or my brother who are the beneficiaries would have to contact Vanguard about the matter. I went on to tell her that neither of them handled her account, and that I had always handled it, knowing her logon credentials and security questions. It didn’t seem to matter to her/the rep that I spoke to. I certainly understand that there needs to be security measures within Vanguard or any other investment company when it comes to matters such as this, but when I tried to login to my mothers IRA account online later that day it would not accept the login credentials. I tried three times with no luck. My complaint is that I felt the individual I spoke with at Vanguard had no right to shut-down my mothers login credentials; certainly w/o at least letting me know she was going to do it. I felt that it was very sneaky and unprofessional on her part. Had she let me know she was going to do it, I would have asked to speak to a Supervisor about the matter, as my moms husband and my brother no nothing about how to go online to check on my moms account, and my brother had just asked me to go online to see if mom had taken her RMD for the year. I personally have a lot of money invested with Vanguard, and am thinking about moving all of it over to Vanguard’s competition, as this matter has really upset me. I believe someone higher up the chain in Vanguard should contact me to explain to me why this representative handled this matter the way that she did.

  Business Response

  Date: 09/06/2022

  September 2, 2022 
  Dear *** *******: 
  We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated August 29, 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 
  
  

• Initial Complaint

  Date:08/25/2022

  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.

  On 8/11/2022 I requested a hardship to pay my daughters college tuition for fall 2022 (due date 8/29/2022 ). My confirmation of withdrawal request form has the following information Plan #: ****** Application Date: Aug 11, 2022 Confirmation #: ***************. On 8/13/2022, I sent the required documents: Copy of my daughters birth certificate, Tuition Bill Fall 2022 ************ University, Page 3-6 of the forms requested for hardship withdrawal and the signed distribution request authorization form. The documentations was sent through *** (tracking #******************). On 8/15/2022 at 5:20 PM (EST). I received an email & text from Vanguard stating that they have received my hardship withdrawal request & allow 3 business days for review / processing begins. 8/17/2022, I received a text message (10:19 PM) and email (9:22 PM) from Vanguard stating they are unable to process my withdrawal request. I contacted Vanguard on 8/18/2022 was told that the Distribution Request Authorization Form wasn't signed but they had all the other required documents. The document was signed, I was confused as to why they said it wasn't. I resigned the document and ship it through *** (******************). I contacted Vanguard on 8/19/2022 during the am. I was told that they had all the required documentation to process my hardship request & to allow 3 business days for review and processing begins. On 8/24/2022, I contacted Vanguard to check the status, completely got the run around and everyone that I talked to said they didnt receive the signed form or I didnt send a copy of tuition bill. I called Vanguard again on 8/24/2022 at 11:42 am and I talked to ******************* at Vanguard. He told me that he see my hardship request for Confirmation # *************** with all the required documents in their system. The funds should be release on 8/25/2022. On 8/25/2022 at 9:21 PM I received an email from Vanguard stating my hardship cannot be processed. This is wrong and unethical.

  Business Response

  Date: 08/31/2022

  August 31, 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:08/24/2022

  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 a withdrawal out of my 401k in order to pay the out of pocket portion of my daughters required surgery back in June. I’ve contributed over 20k into my 401k not counting my employers contribution. Vanguard continues to deny my withdrawal and request additional documents that have already been submitted multiple times. I am given conflicting information every time I call and also told to wait 3 business days for review. I'm very disappointed in Vanguard and wish I could remove all of my money from the account. It is almost September and Vanguard is still delaying my withdrawal. Vanguard needs to approve my withdrawal immediately.

  Business Response

  Date: 09/09/2022

  September 8, 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:08/24/2022

  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 Mother passed away recently and I am the sole beneficiary of her account at vanguard. I have provided vanguard all of the documentation they require to transfer the account and have called them numerous times. When I spoke to them last week, they said it would take five more business days to process and it has still not been transferred. The person I spoke to today, Garrett H**********, said the transfer was on file and had no idea when it would be processed. This should have been a simple transaction but vanguard has dragged it out for almost two months with seemingly no end in sight.

  Customer Answer

  Date: 09/12/2022

  Dear *****************************,
  

  The complaint has been resolved. Thanks very much for your help.