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Business Profile

Investment Security

Vanguard Group Of Investment Companies

Headquarters

This business is NOT BBB Accredited.

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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:08/10/2022

      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.
      They messed my account number up and deposit my money into the wrong account I had to wait for the money to get rejected and then come back now Im having to wait eight days or longer to get my money. After talking to two different representatives I confirm the number and they still got it wrong. Not only did the bank rejected the next day but I had to call several different times for them to tell me to keep waiting and they already knew it was rejected. They also dropped the ball on giving me two different fees for $35 each that I want back.

      Business Response

      Date: 08/22/2022

      August 22, 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:08/08/2022

      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 August 2, 2022, I opened a Vanguard account. Immediately, I verified my external bank account and deposited $12,000. The very next day, I tried to login and could not. My account was on "hold". When I called in to find out what was going on, I was greeted by a very hostile man who informed me of nothing and kept repeating that the fraud department would contact me. I think it is absolutely ridiculous that a company could open an account, take funds and then effectively shut a customer off from their money with zero explanation.

      Business Response

      Date: 08/17/2022

      August 17, 2022


      Dear *** *******: 

       

      I am writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your request dated August 9, 2022, regarding a complaint from Jermal Reed. For your reference, I have enclosed a  copy of your letter as Exhibit A. 

       

      Following our research, we have determined that the account *** **** is referencing was opened  fraudulently with an unauthorized ACH purchase by the complainant/client. Therefore, we are not going  to respond to his complaint. 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:08/04/2022

      Type:Billing 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.
      8/1/22 I have a joint brokerage account at Vanguard w/ my mother, ******************************. My mother was recently put in a nursing home. In addition to have having a joint account, I also have had agent access on her vanguard IRA account for 5 years. I filed paperwork with Vanguard for incapacitated adult agent as my mother was diagnosed w/ dementia. I included the Vanguard form completed by the physician and my durable power of attorney. Additionally, I included a court order giving me temporary guardianship of my mother that was granted on 7 July. Vanguard approved the incapacitated adult agent access on 19 July. Then on 31 July, I received an e-mail from Vanguard of a new confirmation . I confirmation told me that my incapacitated adult agent access was revoked w/ no explanation. Vanguard not only revoked that, but they also took away my access to the joint brokerage account of which I am an owner. This is very concerning as no one is managing the account and if the stocks in the account dive my mother would lose all of her life savings that are paying for her nursing home. I have been on the phone w/ Vanguard numerous times over the past few days. Case # *******. I have spoken to various agents (Michael, Natasha). I asked to speak to a supervisor, but was told the supervisor was not in on 8/1. I have asked for a call back and have not rcvd one for numerous days. I submitted the paperwork for court appointed access on 8/1 which is different than incapacitated adult agent access. However, the issue that I am asking the BBB to investigate is Vanguard taking away the account access to my joint account and have Vanguard restore my access to the joint account that I am an owner of with my mother. ***************************, **** *** (RET)

      Business Response

      Date: 08/22/2022

      August 19, 2022 

       

      Dear *** ********: 


      We are writing in response to a complaint that you recently submitted to the Better Business  Bureau (“BBB”) and the Securities and Exchange Commission (“SEC”) regarding temporary authorization for your mother’s Vanguard accounts, as she has been deemed incapacitated, and  the inability to access your Vanguard joint account that you own with your mother.


      We have reviewed the matter and determined that the documents received on July 6, 2022 and  July 18, 2022 were not in good order for multiple reasons. The first set of documents were  incomplete as a Vanguard agent form was not included. In addition, due to the presence of a  court order, the Court-Appointed Access Form is required instead of the Agent Certification for  Incapacitated Person form.  


      On August 16, 2022, Vanguard received the Court-Appointed Access Form and required  documentation for temporary access. Temporary court-appointed access was applied to ****  ******** Vanguard accounts on August 17, 2022, including the joint brokerage account. While  this is in effect, you can transact on her accounts. 
      We regret any frustration that you may have experienced regarding this matter. If you require  any additional assistance regarding your accounts, please contact Vanguard Voyager Services at  800-284-7245, Monday through Friday from 8 a.m. to 8 p.m., Eastern time.  


      Sincerely, 
      Vanguard Compliance Department 

      Customer Answer

      Date: 08/26/2022

      [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:

      (1) Vanguard has failed to explain why I do not have unrestricted access to a my Joint account with my mother.  I am a full owner of the account.

      (2) I have tried twice to conduct a transaction.  Each time I have been told there is still a restriction on the account.  If Vanguard could please explain the process of how I am to conduct transactions. 

      (3) My mother's IRA account does not show up in my profile.  

      Request 

      (1) Vanguard explain why I do not have full unrestricted transaction ability on the joint account that I own with my mother.

      (2) Vanguard explain the transaction process as I have been unable to conduct transactions twice now.

      (3) Vanguard confirm that I do not pay a fee for phone stock trades as Vanguard does not permit me to conduct online trades.

      (4) Vanguard add my mother's IRA account to my profile.  

      Regards,

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

      Business Response

      Date: 09/21/2022

      September 19, 2022 

       

      Dear *** *******: 

       

      We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated September 9, 2022, regarding a complaint from ***** ********. For your reference, I have  enclosed a copy of your letter as Exhibit A. 

       

      Vanguard has previously responded to ***** ******** concerning these questions. At this time  Vanguard considers the matter closed and will respond to further correspondence about this issue at our  discretion. 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:08/04/2022

      Type:Product 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.
      I mailed a rolled over 401K check from ******* ***** and my former place of employment, ******** ****, to Vanguard so they could place the check in my newly established traditional IRA. This took place in early June and I was concerned when, by almost the end of the month, I still didn’t see it deposited in my account. I was told by more than one onboarding rep. That the check hadn’t been received - several weeks after mailing. I called in with my financial advisor on July 14th, and after asking for specifics, we found out the check had been received and processed on June 27th but had been placed in the WRONG account. Vanguard promised to have the issue resolved by the following Friday, when I’d see the check finally deposited in my account. It’s now Thursday, August 4 and the check still hasn’t been deposited in my account. Each time I‘ve called in July 14th, I’ve been told by an onboarding specialist to wait until the following Friday - only for the Friday to a pass and still see my account say “$0.00.” I’m disappointed, concerned, and frustrated. I would like Vanguard to resolve the matter as follows as soon as possible, due to the length of time this process has taken due to errors on THEIR end: - Ensure I only have one account - my traditional IRA - and place my submitted rollover check into my traditional IRA.

      Business Response

      Date: 08/17/2022

      August 17, 2022 
      Dear *** *******: 
      We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated August 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, 
      Vanguard Compliance Department 

      Customer Answer

      Date: 08/17/2022

      [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. 

      **** Please note that this matter has now been resolved and the desired outcome I wanted has been met. Thank you very much!! ******

      Regards,

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

    • Initial Complaint

      Date:08/03/2022

      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 took a loan out on my 401k through van guard on June 16 2022 I entered the wrong bank information. They re-adjusted my payment method too a check! They had the wrong address and told me to change it. They told me that when they confirmed the address through my employer they would send out a new check. I did that. The confirmation they sent by mail was dated June 27th 2022. When I called back around the July 7th they told me they never sent out the check after confirming they correct address with my employer. Again I called on the 18th of July because no check had came in the mail. I spoke with a supervisor about getting my check sent out. Once They said 7 to 10 business days. For the check to come through. I called again on July 30th 2022 the lady told me if the check isn’t there by Monday call back again. So I called today Wednesday 08/03/2022 they told me the check was sent out on July 30th of 2022! They proceed to give me the runaround. I’ve asked for a another chance at direct deposit in a bank they have used for me before and they declined because “the check is in the mail” now I’m paying on something I’ve never received.

      Business Response

      Date: 08/12/2022

      August 10, 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:08/02/2022

      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 bought stocks originally with ******* *** when they were online several years ago. I received an email from them saying that they were closing the online component of their business. Their suggestion was to move them off the site. I complied with their suggestions. I moved the stocks I had into Vanguard Group into an account I had there before. These stocks are still listed on the statement page and have been monitored by them for years. When I settled in New Mexico I called to find about the status of them. I was assured that they were still there. I called again sometime later and this time they said they did not know where they were. I called sometime later, and they said they had no idea where they were.

      Business Response

      Date: 08/22/2022

      August 19, 2022 

       

      Dear *** *******: 


      We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter  dated August 5, 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:08/02/2022

      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 have been a client of Vanguard for a few years now. I started a new job back in November 2021. My new employer uses Vanguard for their 401K plan like my previous employer so I already have an account with them. I tried registering for my new account with my new employer since the day I started my new role (9 months to be exact) I have not been able to get through to some one all 9 months. When I do get through, I get transferred and sit and wait to speak with someone for about 2 hours the longest I've waited has been 2 hours and 30 mins. Its been 9 months in my new role and I can not get through.

      Business Response

      Date: 08/19/2022

      August 18, 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:07/29/2022

      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.
      This is my first time dealing with a retirement plan with my employer. I mistakenly chose a 75% contribution. I was supposed to get paid on 07/27/2022 but my whole paycheck was taken by my 401 through Vanguard. I reached out to company and explained my situation. I have bills and I am a ***** single mother who has to go school shopping. This is an emergency situation. I was basically told that nothing could be done about it, that it was my fault. I asked to speak with a supervisor regarding situation and no one wanted to help. I got hung up on twice and the last person I spoke with David V****** was very rude and was talking to me like a child. I requested a supervisor over and over and they said I would receive a callback in one business day. I asked for corporates number and they said there was none and I had to go through chain of command. I work for a call center so I know I am entitled to speak with supervisor. David V****** kept speaking over me and kept saying that a supervisor would not come to the phone because it was my fault.

      Business Response

      Date: 08/08/2022

      August 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 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:07/28/2022

      Type:Order 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 am trying to have my 401K rolled over into another company. Every time I contact Vanguard there is another piece of paperwork or another form to fill out and they were unable to send my check to ******** *********** even after providing them with documentation and paperwork on how to issue the transfer. This paperwork was discarded as not valid and then when they filled in the information themselves and sent a check the check was returned because the paperwork wasn't correct. They have been holding my 401K hostage for months now while telling me that documents and paperwork weren't filled out correctly. This last communication was that I have to send them another letter because they have the wrong account information for the transfer and thus can't finish sending the right check.

      Business Response

      Date: 08/03/2022

      August 3, 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 

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

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