Vanguard

Vanguard

 3.8/5 (676 ratings)
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About Vanguard

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Vanguard, founded by Jeff Bogle (who invented index funds), is a long-standing investment company that offers low-cost funds and robo-advising options. Its platform is intended for long-term investors who wish to buy and hold their funds. The company offers mutual funds, stocks, ETFs and options and requires no commissions on certain trades.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Robo-advisor option
  • Free educational resources
  • Low-cost funds

Cons

  • Lacks features on platform
  • Fund minimums

Bottom Line

Vanguard is one of the largest investment companies in the world and is known for its low-cost funds and robo-advising. It doesn’t have commission fees, but it does require certain fund minimums.

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Vanguard Reviews

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Page 2 Reviews 5 - 35
Rated with 1 star
Verified Reviewer
Original review: March 28, 2022

Broken English and on hold for hours! All for them to be looking at the wrong account the entire time!!!! I have never felt so inductee about my own money before. I am truly afraid of the future of this company.

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 23, 2022

Called late February to rollover my 401k from a previous employer from Vanguard to Fidelity (thank God I could finally do that) and Vanguard supposedly sent a check to Fidelity on 02/23. It is now a month later and Fidelity never for the check. Called Vanguard customer service just now and waited for over an hour to get someone on the phone. She proceeded to tell me that she couldn't help me because she doesn't handle employer accounts. Why did I get routed to her when I had already entered all of my account information????

I tell her that before she transfers me that I want to tell her exactly why I am calling so that I don't have to wait on the phone for another hour unnecessarily. I can tell she really doesn't give a crap and I'll probably be transferred to someone else who "can't help me". So she "transfers" me and about 30 minutes later the call just ends. I spent an hour and a half waiting for nothing and now I am back on the line which is telling me that my estimated wait time is another 40 minutes. That is what it said the first time I called and it took over an hour just to get someone. I'll be overjoyed once I have severed ties with them completely.

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 14, 2022

I held for an hour and 20 minutes to speak to someone, then I was told I will have to speak to a Senior Specialist which is now put me on 2 hours 15 minutes and I am still holding!!! This is not the first time I have held this long. This is UNACCEPTABLE!!

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 11, 2022

It is now March 11. I'm on hold for customer service for the THIRD time to get my Form 1099-R, so I can file my income taxes. First two calls to Vanguard resulted in promises to send info I need, with no results. Vanguard web page directs me to a page to download my 1099-R, and when I go to that page, it says there are no tax forms available. Vanguard also says this form (1099-R) has been available for download since January 27!

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 8, 2022

This is by far the worst company I have ever had to deal with and cannot wait to transfer all of the accounts out of this company. Completely understaffed, poorly prepared and trained agents with an archaic system. IT should not take over multiple months, at least a dozen phone calls and over 50 + hours of time with customer service to change ownership of accounts. I would never recommend or use this company in the future and would warn anyone else to stay away as they may never be able to access or use their funds. Their website is always not working, glitches that they are trying to repair which would make me not even trust their online security. Do not go near this company. There are much better advanced financial institutions to use.

3 people found this review helpful
Rated with 3 stars
Verified Reviewer
Original review: Feb. 23, 2022

I have invested with Vanguard. There are so many bad reviews here that I am afraid I made the wrong choice. Is Vanguard really this bad. I know that their customer service is not very good. Now you have to make callback appointments. Seems they operate with very few employees. The Stock Market has been down for a while now, so a lot of money has been lost. Can't change companies now. Hope it gets better.

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 16, 2022

I separated from my employer with loan against 401K. Arrangements were made to pay monthly from checking account. All was fine for a few years until Vanguard attempted to withdraw payment a day earlier than set forth in loan agreement. I deposited money on the proper day knowing it was due. No notice of insufficient funds or any problems. My first clue was a letter from IRS about disbursement penalties, fees, and interest of about $15,000. Found out they didn't retry draw or make notice, just took funds from 401K and paid off loan. When I contacted Vanguard they couldn't seem to produce any correspondence with me or the original loan contract showing payment date. Bottom line is that Vanguard isn't interested in actively managing your account so you need to be double checking always.

3 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Jan. 31, 2022

I have been invested in Vanguard for several decades. The last couple of years, the service has deteriorated. Long waits on hold, occasionally bad advice, menu driven system that is annoying, inability to talk to someone higher than the assigned advisor about issues. I have previously advised others to use Vanguard but would not do so today. At one point, I got so annoyed I wrote a letter to the CEO; no one responded.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 29, 2022

Wanted to transfer my 401k over. Was on hold from various different departments from 430 until they closed at 9. Worst customer services I have ever experienced. Thank god this is going to be one of my last experiences with them...

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 27, 2022

Trouble from the beginning. First thing: confusing website led to bank transfer problem and they locked me out for months! Next thing: I complained to an agent about the "First thing" and someone listened in and called me back to scold me about getting upset with the poor handling by the agent! Final straw: 2021 performance horrible: lost $3K (~4%) but will have to pay about $800 in tax for dividends/CGD; closed account! Avoid this horrible company.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 27, 2022

If you have a choice, and your employer has not already selected them, do not put your money here. They have trillions under management but will not invest in taking care of specific needs and any interaction with them is going to cost a huge investment in time and trouble. And you won't be likely to DIY your trouble yourself on their website. Plant to be on hold in excess of an hour if you call them. They really are unimaginably bad. When I called even their phone system couldn't hold the line properly.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 18, 2022

It would take pages to review all of the ways Vanguard -- once the industry leader -- has fallen to last place in supporting individual investors. I still have a Vanguard account because it is more efficient to retain a few old Vanguard funds there. I never look forward to transactions at Vanguard because they haven't taken the time to provide the information you would naturally want to see when you are trading. The last time I sent an email with a question, it took them seven days to respond. I gave up on phone calls years ago. The website provides very little investor information, which means they are not paying for it.

Contrast this to Fidelity where it can take months just to master all of the intelligence, expensive analyst reports (all free), investing tools such as stock and ETF screening software, dozens of event trigger and notification rules, tools, paid memberships to external services, modeling, portfolio analysis, profit/loss analysis, retirement analysis, and other forms of decision-support they provide at no cost. The Fidelity system is accessible via web browser, smart phone and tablet apps, and via a sophisticated PC application that adds advanced capabilities for the most serious of investors.

In addition, Fidelity can provide full banking, credit and debit card, bill paying, HSA and college savings accounts and even free bank wires to give you one-stop financial services. It integrates all of this into a single dashboard. Fidelity also has advanced account security lockdown systems -- so good they can occasionally be frustrating if you are not behaving in your typical manner. I don't have need to call much but when I have called Fidelity, I get a smart and personable individual who is obviously well trained and enjoying his or her work.

Every conversation included human interaction such as a comment on the weather, asking about my day and sharing theirs, etc. Nice people. None of this is provided or at most is provided in a token way by Vanguard. Vanguard is operating on the cheap and it shows. Given the alternatives, I really can't recommend them for anything, including their own funds, some of which are good but most of which are now available from competitors via similar funds at even lower costs.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 12, 2022

I have had an employer sponsored 401(k) plan with Vanguard. Every interaction with Vanguard was horrible. Typically, I would be bounced around between a minimum of 3 departments before ending up speaking with the right person. On several occasions, my online account password stopped working for mysterious reasons and I would be unable to access their system. Wait-times are typically long. The overall impression was that Vanguard was hoping to "wear me down" to the point that I would give up and just leave my money with them. I know that's (probably) not true, but it sure felt like it. Worst performance from any financial institution I've ever dealt with in my life. I'm sure there are even worse customer service experiences out there - I just haven't experienced one before in about 30 years of dealing with financial institutions.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 11, 2022

Have been trying to move my IRA account out of Vanguard for past ONE month+, which ended up in my investment liquidated in last 4+ weeks and sitting as cash in my account! Now for last 2+ weeks I am trying to get market correction done on my account, as I have literally lost on market gains for more than a month. - All due to carelessness of Vanguard. Extremely disappointed.

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 3, 2022

I have been a Vanguard customer for more than 20 years. Just this year in 2021, there is no longer customer service. Vanguard used to have impeccable customer service. But now there is NO customer service. Call and wait 2 hours before anyone answers the phone. Then, they will hang up on you and not call you back even when you say at the onset, "If we get disconnected here's the number to call me back." I needed help transferring money but the woman had no idea how to help me do that. She hung up on me. This no-customer service has been going on for months. You also can't email the company. You can't contact the top people on LInkedIn as they block people who aren't personal connections.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 8, 2021

Don't invest with Vanguard. Their "socially responsible" investment funds are a lie. It's a combination of big banks that fund fossil fuel expansion and other terrible things, big pharma, big tech, last time I check big oil was in the mix (they may have dropped direct fossil fuel holdings when it became less profitable). Basically they're still putting your money into destroying the planet, just indirectly and with a nice-sounding label on it. When I realized this I decided to move my retirement funds to Green Century, a company that actually invests money in socially responsible ways.

Vanguard has refused to make this simple transaction, and has made me call in countless times to confirm that I want to move my money. The phone number in the email is wrong, they put you on hold for hours, then you either end up in a dead end with a voicemail box that's full, or simply getting disconnected. I've lost track of how many times they've made me call in, and how many hours I've spent on hold, just to be disconnected or talk with a representative simply to confirm yet again that I want to move my money. It seems that Vanguard intentionally uses terrible customer service to discourage people from getting their own money away from this terrible company. If you don't want to be treated like dirt, and don't want your money going into the hands of the worst people on Wall Street, stay as far away from Vanguard as you can.

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 25, 2021

Beware, beware, beware. Vanguard's customer service is an embarrassment. First, it is impossible to speak to a Vanguard representative. Once upon a time, Vanguard gave customers a personal service adviser. For reasons that were never explained (read Vanguard trying to save money), it eliminated advisers. When you call the general number, endless wait times. Second, Vanguard insists you email your concerns or questions. Big, huge, mistake. After you email Vanguard, you will wait weeks to receive a completely non-responsive answer. Third, not only is the email response non-responsive, many emails contain typos, misspellings, and completely false information (e.g. our Vanguard email system is unable to find previous emails it purportedly sent you).

Fourth, when you finally demand to speak to a supervisor, a supervisor will eventually call you back but the supervisor leaves you a message but purposely fails to give you a call back number. Fifth, after you spend hours waiting on the phone to find this so-called supervisor, he listens to you complain about lousy customer service and says Vanguard is aware of the problems.

Duh, what are you going to do about lousy customer service now that you know? Answer: We are aware of complaints. This is the equivalent of fire department responding to a 911 call about a fire by telling you we are aware of the fire but have no idea or plan how to put out the fire. Come on Vanguard, if this the best you can do, you do not deserve any investor to invest their life savings with your institution. Luckily, I was able to remove all my family's funds from Vanguard but that relatively simple task was handled so poorly by Vanguard. I truly fear for the rest of the current Vanguard investors who still have funds there. Run, run, run as fast as you can from Vanguard. DO IT NOW.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 23, 2021

The worse customer service imaginable, it simply does not exist. I have made 7(?) telephone calls, been routed from dept to dept, left answering machine messages, received call backs that disconnected after one ring, and been given conflicting information. All that as I simply tried to enroll in their voice verification system-and I still haven't succeeded in doing so! Vanguard is too cheap to hire representatives so they rely on technology to route your calls. The problem is the IT dept is staffed by idiots and their systems don't work. USE FIDELITY INSTEAD.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 9, 2021

I have been a Vanguard client for many years, and have been trying to open a new ETF account for 3 days. Today, again, I have been on the phone for over an hour and have yet to talk to an actual person! And that's after using my password, voice recognition! TOTAL FAIL! READ THE OTHER REVIEWS! So I am now looking for a new company to drop a quarter mill into, and then move everything out of Vanguard. VANGUARD... YOU ARE FIRED!!!.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 9, 2021

Vanguard used to be a good place to have a retirement account. Information about your account and investments were easy to find. Customer Service was helpful. NOT ANYMORE. Logging in is a crapshoot. And God help you if that log in page isn't functioning because customer service is hard to get. They don't chat anymore. They don't email. Customer service - IF you can reach them at all - does not help. They only insist your account must be re-set by sending forms through - the US mail. Yup - you will not be able to access your account for WEEKS. Even when the problem is at their end. And - they will never acknowledge that they're having a web or other technical problem at their end. They want you to do everything online or on their app, but then they make it impossible to use those too.

And their website isn't organized anymore. It's harder than ever to compare investments and investment performance. It takes more steps than ever to figure out how your portfolio is performing over time. Buying/selling/and moving money between accounts are buried in different menus. I don't know what happened to Vanguard.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 8, 2021

Vanguard customer service is the worst I've ever had. Will never use again. Received 5 notices in the mail from Vanguard about accounts opened in my name. I called their 1-800 number twice, and both times was told they can't help me. I have to email their fraud email line (because they' are too cheap to have a fraud dept. answer a phone), and then it takes 72 hours to get a response. I emailed, and never even got a response. Had to report to IRS and Federal Trade Commission. Vanguard - doing the minimum for their customers!

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 6, 2021

I have been a client for many many years. Last week I could not access my online account. Many calls. Long waits. Nothing. Called three different phone numbers, including that of my designated representative. Finally reached a person at technical support. After a long call and guiding me through to my account, I was informed my account was blocked. Why, I asked. He did not know. Tried several more times to access my account. Zilch. Nada. Obviously time to say goodbye to Vanguard.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 4, 2021

It is really hard to talk to the customer service staff! Sometimes some reason, the phone is hung up! They never call me back! I had to start it from the beginning, waiting, explaining, and holding!! It is very frustrating for unprofessional services especially since this is a super big well-known company!

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 3, 2021

The mutual funds are fine. Low fees. The Website for investors is horrible and nearly impossible to find anything, e.g., individual performance of your investments. By far the worst aspect of Vanguard is their inability to interact with customers in a timely or professional manner. Wait times are 1 hour plus if you call in, and you will likely be transferred to the wrong person or department and waste a colossal amount of time again. I have sent checks for rollovers to the company and they just send them back with nonsensical explanations--like what account to deposit in when it's written on the check. I literally just destroyed 3 checks because the trouble to deposit them wasn't worth the amount on the checks. Finding simple information for a rollover is nearly impossible and don't even try to speak with anyone. They highly discourage it once you call in, and then make you wait for, what so far, seems to be an unlimited amount of time.

Honestly, I don't think anyone would ever pick up the call no matter how long I waited. Currently, I was told 20 minutes, waited 30, was answered, then transferred to another department where they said the wait would be an additional 40 minutes. I've currently been waiting almost an hour and the actual voice message that is play every 15 seconds keeps repeating "your estimated wait time is 50 minutes" even though I already waited more than an hour. It's a hideous experience. Super frustrating, and you have NO OPTIONS but to wait. If they would improve the Website, I'd prefer to do this online, but it's not possible for me to navigate the options to find the answers I require for my rollover. After hearing so many good things about Vanguard, I'm completely disappointed with the customer service.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 28, 2021

Please think carefully before investing your money into Vanguard. The call wait times are terrible, week after week, any day of the week. I regret establishing our money with them. Sometimes when you do finally get a human being they may or may not be knowledgeable.

5 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: Oct. 22, 2021

We trust Clark ** and he recommended Vanguard for money management. We have a live advisor verses a robo advisor. The management fee is only .03%! After answering his questionnaire he put us in 60/40 stocks/bonds. After one year we are up 15%. However, the market has been going north and to me the true test will be during the downturns. We are in our '70s and feel comfortable having our retirement fund with Vanguard.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 22, 2021

I called to open 3 accounts, one for me, my mother, and my daughter. Because I had an old account from 25 years ago through a previous employer and could not remember the address I lived at they would not open an account for me. At the time I was young and it was an employer-sponsored account. Now I'm older and I have a trust account and they wouldn't even open a trust account. They just turned away so much business.

2 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 21, 2021

They are impossible to get ahold of. I spent two hours waiting on a callback. After finally getting ahold of somebody they said they need to transfer me to somebody else and that it would be another 2 hour hold. Then they promptly hung up on me. I've been trying for days to get ahold of somebody that can answer my questions. If you ever have a question you will need to take a day off work and dedicate that day to being on telephone hold.

8 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Oct. 12, 2021

I have had a Vanguard account for thirty years. They have gone from the best of my five brokerage accounts to the worst. Wait time is absurd any time of the day. Customer service reps cannot answer simple questions. Mr ** would not recognize the company he built. Performance is fine but maybe Vanguard should consider hiring more and more competent staff.

6 people found this review helpful
Rated with 1 star
profile pic of the author
Verified Reviewer
Original review: Oct. 12, 2021

Waited on hold for 40 minutes until I gave up. Keep in mind the recorded message says "Your Hold Time will be more than 9 min" - That can mean hours/ Days? Zero customer support. Will remove all my funds and find another option. Terrible.

6 people found this review helpful
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Vanguard Company Information

Company Name:
Vanguard
Year Founded:
1975
Address:
Vanguard P.O. Box 1110
City:
Valley Forge
State/Province:
PA
Postal Code:
19482-1110
Country:
United States
Website:
investor.vanguard.com