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

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.

Initial Complaint
Date:01/07/2025
Type:Product Issues
Status:
UnresolvedMore 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 an order request to transfer money from my Vanguard brokerage account at 7am on 12/27/2024 and I received confirmation of the amount that would be transferred. Vanguard waited until after the close of business day to process this request rather than processing at the time of submission, resulting in a significant monetary loss. I contacted Vanguard to request the amount owed to me based on the confirmation I received at 7am, and they refused to compensate me for this difference. I am requesting Vanguard to honor the amount of the transfer.
Business Response
Date: 01/15/2025
We are writing on behalf of Vanguard ********************* (Vanguard) in response to your letter dated January 7, 2025, regarding a complaint from ******** *****. For your reference, we have enclosed a copy of your correspondence as Exhibit A.

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

Sincerely,

Vanguard Personal Investor
Customer Answer
Date: 01/16/2025
[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: 22777818

I am rejecting this response because: the order request was placed at 7am, before the start of the business day and the amount shown at the time of submission should be honored.

Regards,

******** *****
Initial Complaint
Date:01/06/2025
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.
this business has my money, they offered to mail it. however last time it was sent through mail they lost it and then took two months to get it to me. Also when trying to conduct an exchange they hung up the phone on me. They are able to conduct the transaction digitally, but apparently when you make an account for their online services they put you in a holding period that isnt mentioned in any of the paper work initially.
Business Response
Date: 01/15/2025
We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated January 7, 2025, regarding a complaint from ***** ******* (BBB Case No. 22776276).

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:01/06/2025
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.
Everyone realizes the new year occurs annually. Thus, we ll prepare in our personal & business life for such . Vanguard has erroneously & periodically charged me fees that are unjustified to learn after speaking with customer service representatives that they made errors. Example: Charged $25.00 because I had hard copy statement mailed so I opted for the no fee online (not paper statements). I'm charged again. Trying to speak with customer service for over a week. No returned phone calls despite they say , "we will call you back & you will not lose your place in line". Again, nobody calls. This time I'm on hold for 1 hour 25 minutes & still have received no assistance. One person came on the phone approximately 10 minutes ago & said, "There is no reason that fee should have been generated on your account but I need connect you to another department". My hold time is apparently going to reach over 1 1/2 hours or more with no resolution. Is this a scam? Are you merely targeting aged individuals or disabled individuals who yu think are easy targets? What appended to your values, past professionalism, and overall character?Please have upper management, a professional leader, contact me or have aboard member reach out to me via telephone. Please do not send me an email or a patent generic letter. I would like to appear at a board meeting.
Business Response
Date: 01/15/2025
We are writing on behalf of Vanguard ********************* (Vanguard) in response to your letter dated January 7, 2025, regarding a complaint from ******* ********. For your reference we have enclosed a copy of your correspondence as Exhibit A.

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

Sincerely,

Vanguard Personal Investor
Initial Complaint
Date:01/02/2025
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.
Subject: Formal Complaint Against Vanguard Dear Sirs,I am lodging a formal complaint against Vanguard with both the BBB and Mt. ******************** Commissioner for their failure to transfer my 98-year-old mothers retirement funds despite timely submission of all required legal documents. This delay has caused undue stress and financial uncertainty.Details: Account Holder: ********************* Vanguard Account #: ********** Request: On 10/5/2024, I requested a transfer of her non-qualified retirement account to **************, providing: ************* of Attorney (DPOA). Identification for myself and my mother. Medallion Guarantee. Documentation for the American Funds account.Current Status: As of 1/2/2025, Vanguard has failed to act and continues demanding unnecessary forms despite complete documentation. Their refusal to honor the **** violates their fiduciary duties and legal obligations.Vanguards refusal to honor the durable power of attorney and their stalling tactics appear to be in violation of federal and state laws governing financial institutions and their fiduciary duties. Precedents from similar cases, including Vanguard and USAA Refusals (Case Study),******** ************** *************** (*******) establish that durable power of attorney documentation must be honored unless there is clear evidence of fraud or invalidity, which is not the case here.Requested Action: Complete the transfer immediately. Provide an explanation for the delays. Ensure policies are implemented to prevent similar issues.I can provide supporting documentation upon request. Please contact me at ************ or ********************* for further information.Thank you for your prompt attention to this matter.Sincerely,*** **** ************* of Attorney for Creta *** ****
Business Response
Date: 01/15/2025
We are writing on behalf of Vanguard ********************* (Vanguard) in response to your letter dated January 3, 2025, regarding a complaint from *** ****. For your reference we have enclosed a copy of your correspondence as Exhibit A.
Vanguard has responded to the client directly. If you have additional questions, or if we can be of further assistance, feel free to respond to this email.
Sincerely,
Vanguard Personal Investor
Initial Complaint
Date:01/02/2025
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.
Vanguard migrated customer accounts to a new platform. At the beginning of December access to my accounts was restricted until I completed an online form. The form had a technical error and could not be completed. I called Vanguard and spent one hour trying to resolve the problem. The *** was unable to remove the restrictions on my account. He told me the problem would be forwarded to the IT Department. Not hearing from Vanguard I called them again. And went through the same questions and still had my accounts restricted. I've spent several hours on the phone with Vanguard. They had me download the file and send it US ************ I jumped through every hoop that Vanguard put before me. And yet, 1 month later I still do not have access to my money. It is extremely upsetting to have my life-savings blocked, not to mention the possibility of monetary loss. Vanguard is not acting in my best interests, has not acted in a timely fashion. The failure of execution is inexcusable, and certainly when it takes more than a month.
Business Response
Date: 01/15/2025
Attached please find The Vanguard Marketing Corporations response to BBB Complaint# ********. Please let us know if you have any additional questions.

Sincerely,

Vanguard Personal Investor
Customer Answer
Date: 01/16/2025
[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: 22759341

I am rejecting this response because: Vanguard has denied me access to my funds for over one month. This is in direct violation of *** rules. Had I Vanguard's money, they would have charged me for the time-value of their money. Without access to my funds, I missed out on several investing opportunities. I was unable to transfer funds to ******* ****** to make investments.

The response from Vanguard to the BBB was that they sent me a letter. That's true. After 1 month they restored my access with an email informing me of this. Nothing else. In addition to monetary loss, I wasted hours and hours on the phone with Vanguard. I had to repeat the same story over and over each time I was connected to someone new. They record all calls and have a record of this. No apology for the time and energy I spent on this. Vanguard seems particularly unrepentant.
This has been a traumatic experience for me. Vanguard denied me access to my life-savings. Scary. And they did nothing to mitigate the problem.

Regards,

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

Customer Answer
Date: 02/18/2025
A "failure to execute" violation under FINRA rules means a broker or brokerage firm did not properly follow a client's instructions to buy or sell a security, essentially failing to execute a trade as directed, which could include not executing the trade at all, not executing it in a timely manner, or not getting the best possible price for the client based on market conditions; this is considered a form of broker misconduct and is governed primarily by FINRA Rule 5310 ("Best Execution and Interpositioning") which requires firms to seek the best possible execution for their clients when trading securities.
A failure to execute means that the broker is not following your direct purchase and/or sale instructions in a proper manner. This is a form of broker misconduct. ******* broker did not allow me access to my funds for one month, therefor they did not fulfill purchase or sale instructions, she/he may have engaged in a failure to execute. The response from Vanguard, "Sorry" falls short of reasonable resolution.
Initial Complaint
Date:12/30/2024
Type:Billing 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 401k account through ****************** with BlueLinx. ******** is in the process of moving that account to ************. I received information from BlueLinx and Vanguard that the account will be blacked out starting on 12/26/2024 and liquidated on 12/31/2024 and moved to ************. I logged onto the online account on 12/28/2024 and was unable to see any record of my account. No balance, no past statements, no transaction history, nothing. It was like it never existed. I understand the black out period and that I can make no changes during this time, but why am I unable to see my balance or past statements? I made 2 calls to their service center on 12/30/2024. I was told verbally my balance but was told that no past statements were available. I was hung up on by the first representative, ******* The second rep was no further help and I was told no supervisor was available.I understand the process and the blackout period, but why would no past statements be available?
Business Response
Date: 01/15/2025
We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated December 31, 2024, regarding a complaint from ***** *********(BBB Case No. 22746781).

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
Business Response
Date: 01/15/2025
We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated December 31, 2024, regarding a complaint from ***** *********(BBB Case No. 22746781).

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

Sincerely,

Vanguard Participant Services
Customer Answer
Date: 01/16/2025
[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 still find it unacceptable that I had to go through these measures just to receive a past statement of my accounts.

Regards,

***** *********
Initial Complaint
Date:12/29/2024
Type:Product Issues
Status:
UnresolvedMore 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.
Have contacted Vanguard customer service for the last two months about the refund of my funds and I keep being told that they will let the research team to contact me in about ***** hours about this situation....the research team has not got back to me yet .....this is outrageous.......I want my money back!!!Reference # FR353188
Customer Answer
Date: 01/15/2025
About three months ago Vanguard closed my Cash Plus account ending in 8630 with 30k plus in it without giving me my money before closing the account. Since then I have been requesting the release of my funds to me by calling them at least twice a week and I have been keep telling that they are going to escalate my situation to the research team for the team to contact me within ***** hours to address my issue and to make a long story short.....the research department has not contact me at all....... I am requesting that Vanguard contact me letting me know when and how I am going to get my money back!!!.....it has been a terrible experience with Vanguard with the way they conduct business and their customer service policies.....am so frustrated with them that I don't know what else to do to get my money ASAP....... Have a reference number FR353188 as a proof that I have been reaching out to them to get my situation solved.......I want my money back ASAP......AM TIRED OF CALLING THEM TWICE A WEEK FOR THE LAST TWO AND A HALF MONTHS AND KEEP GETTING THE SAME ANSWER WITH NO RESULTS!!!!
Business Response
Date: 01/15/2025
We are writing on behalf of Vanguard ********************* (Vanguard) in response to your letter dated 12/30/2024, regarding a complaint from ***** ******. For your reference, we have enclosed a copy of your correspondence as Exhibit A.
Please know that Vanguard has identified that the complainant has been implicated in fraud and we will not respond directly to him. If you have additional questions, or if we can be of further assistance, feel free to respond to this email.
Sincerely,
Vanguard Personal Investor
Customer Answer
Date: 01/17/2025
[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: 22737262

I am rejecting this response because: I want to know when and how am going to get my $30k refunded to me that I have been asking for the last three months

Regards,

***** ******
Initial Complaint
Date:12/28/2024
Type:Customer Service Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
After many attempts, with endless conversations with multiple customer ***** I was finally sent the form: special payee withdrawal from a VBA non retirement account. I filled out the form, with the name of the special payee and their bank address. I now got vanguards confirmation of the transaction and it says the check was made out for my benefit. Completely contrary to the instructions, that I have proof of, via docusign. I used to be a voyager+ customer. That service is no longer offered. Customers are now brewing handled by people with absolutely no training. I now need to spend hours to resolve this mess. Time to switch to Fidelity.
Business Response
Date: 01/15/2025
We are writing on behalf of **************************************** (Vanguard) in response to your letter dated 12/30/2024, regarding a complaint reply from *** *****. For your reference, we have enclosed a copy of your correspondence as Exhibit A.

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

Sincerely,

Vanguard Personal Investor
Initial Complaint
Date:12/27/2024
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 needed to take a loan out to help with expenses that came up an when I applied for the loan online I put for 5 yrs repayment plan and when I checked to progress the next day I noticed that it was changed to one year I called up to vanguard and was told i only had 15 minutes after applying for the loan to modify it but they were closed when I applied so I asked to speak to a supervisor her name was **** Gabeila she said she would put a modification request in and that she would call me but she never did than I asked for another supervisor but they never called I just keep getting the run around it is not my fault that the computer glitches and turned 5 yrs into 1 yr
Business Response
Date: 01/15/2025
We are writing on behalf of Vanguard Participant Services (Vanguard) in response to your letter dated December 27, 2024, regarding a complaint from ***** ***** (BBB Case No. 22736349).

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:12/26/2024
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 opened an individual investor account with ****************** a few months ago. There was some difficulty setting it up because in the past I had a 401k through CVS, a previous employer. This account was never funded and no contributions were made. When I started opening a regular investment fund ( nonretirement) a conflict arose. A representative from vanguard worked to fix this but a mistake was made with my social security number by the vanguard employee. This caused access problems. I called vanguard again and this was fixed. I thought. I gained online access and funded the account with $100. I just put in a little to be sure no more issues arose. Soon after depositing that my account was restricted. I called the end of October to try to resolve that and was told it had gone to their investigative department and the phone representative could not give more info. Including the reason the account was restricted. But they said I should hear from them in ***** hours. About two weeks later, no word. I called again and explained the situation again and was told again I would hear something from their investigation within ***** hours. Nothing. I called again with the same result towards the end of November. And again I called twice in December. All with the same result, my account is restricted and I will hear from them in *****. I called today, 12/26/2024, and after being on hold for 20 minutes spoke with a supervisor who said the same thing. No information about why the account is locked but she created a ticket and I would hear from them in 4-5 days. I asked the first representative today for the name of their regulatory agency so I could file a complaint and that is when I was put on hold and later spoke to a supervisor. I was never provided the name of their regulatory agency. At this point I just want access to my account to get my money out and take my business to another financial institution.
Business Response
Date: 01/15/2025
We are writing on behalf of **************************************** (Vanguard) in response to your letter dated December 27, 2024, regarding a complaint from ********* ******. For your reference, we have enclosed a copy of your correspondence as Exhibit A.

Please know that Vanguard has previously responded to ********* ****** directly concerning this issue. If you have additional questions, or if we can be of further assistance, feel free to respond to this email.

Sincerely,

Vanguard Personal Investor
Customer Answer
Date: 01/23/2025
I have not received any communication from vanguard regarding this issue. I have lost access to the email I used when I opened this account. However, during my last conversation with a vanguard representative I provided an updated and active email to reach me and have received nothing. Also, from the beginning of this they have had my phone number. I have been told from the beginning a vanguard representative will call me each time I have spoken with them about this problem.
At this point all I want from vanguard is access to my account so I can withdraw my money and not have to Deal with them any more. I have no interest in dealing with them and nothing good to say about their business practices

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