Vanguard Fees Are Going Up -- Here's Why and How to Avoid Them

Рет қаралды 45,731

Күн бұрын

This week Vanguard announced a change to its account fees. For many, the change will result in higher costs. Needless to say, Vanguard loyalists are not happy about these changes.
Here's just one of many emails I received about the new fee structure: "What in the world is going at Vanguard?? First there's the fiasco of their Target Date Fund nonsense, now the fee being charged for using their mutual-fund only platform ie Barrons article dated August 23, 2023. What do you think???"
In this video, I discuss Vanguard's new fee structure, why they changed it, and how you can avoid paying the fee.
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Video Resources
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Vanguard's New Account Fees: investor.vanguard.com/client-...
Vanguard's Old Account Fees: web.archive.org/web/202205171...
Bogleheads Discussion: www.bogleheads.org/forum/view...
Barron's Article: www.barrons.com/advisor/artic...
Fidelity Fee Comparison: www.fidelity.com/why-fidelity...
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#vanguard #fees #robberger
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While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.
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Пікірлер: 273

@joshbrown4608 2 ай бұрын

Came here to get a history lesson as they are doing it again. Just got the email this morning for fees like $100 for closing account... Schwab and Fidelity looking great

@oldmsippiguy6545 Жыл бұрын

Jack Bogle would not approve of these changes!

@carlbook2051 Жыл бұрын

If you have $2000 in a mutual fund with a .05 percent expense ratio, the fee generates $1.00 a year. That wouldn't cover the postage spent to send your statements. So other larger accounts have to subsidize the smaller accounts. I don't like paying fees, but I think it makes sense from a business perspective.

@ttuck9603 Жыл бұрын

Among the many things they are not doing well-the page where all funds (performance, yield, etc…) are shown was revamped and it is a major step backwards….the old page allowed you to see many more funds at a glance. The new page is horrible - you have to scroll through multiple pages to see the full line-up. It is very disappointing how they are going backward in so many ways.

@Tube12111 Жыл бұрын

Transferred all fund accounts to Fidelity six months ago. Last few times I needed help from a Vanguard representative was a painful experience. Not to mention their basically useless website. Completely improved experience in all aspects with Fidelity.

@kevink7777 Жыл бұрын

There's no way their website changes would pass a user group test.

@philruehlen Жыл бұрын

I sent you an email about this subject and within 3 days, there is a video! Thanks as always Rob!

@pat-orl Жыл бұрын

I officially declare this a nothing burger. Inflation surely making mailing all those statements more expense. And I don't want my fund fees to pay for your statement mailings!

@gobarbless3871 Жыл бұрын

Thanks for you comparison and opinion. This is just the info I needed. 🙂

@andreacorbifein Жыл бұрын

Maybe Vanguard is raising funds (via these methods) in preparation to pay for their Target Date Tax fiasco class-action lawsuit.

@timb6985 Жыл бұрын

Exactly was I was thinking!

@toddhallam9598 Жыл бұрын

I just got an email on this. Thanks for explaining.

@aj1918 Жыл бұрын

I was a long time Vanguard guy, I recently converted everything to Fidelity. Vanguard’s really gone downhill.

@mehawinct Жыл бұрын

As always @Rob Berger, thanks for your videos!

@Borat_Kazakh Жыл бұрын

My Vanguard CFD tried to send me the docs to convert my IRA to a managed fund, and all the emails were flagged by Google Chrome as "dangerous- do not open." I informed the advisor and she immediately sent the forms via snail mail. But the basic point that Vanguard has gotten a little lazy about basic housekeeping and mundane chores is absolutely correct. They have $7 trillion under management, and being huge sometimes leads to inattention to detail.

@christinew8633 Жыл бұрын

Really helped me understand the brokerage account versus the regular mutual fund account. I called the customer service line and the Vanguard person wasnt even sure what the difference was. Put me on hold for about 15 minutes. Have been with the company 30 years and will continue to do so. Thanks for your great video and explaining it well.

@jeu7074 Жыл бұрын

No one talks about what triggered this event. In December 2020, Top Vanguard fiduciaries decided to take sides to benefit Ultra-Wealthy shareholders over Main Street investors. Vanguard had lowered the investment minimum for its institutional target-date funds from $100 million to $5 million. When Vanguard reduced the threshold to $5 million - it caused a fueling exodus of TDF fund. That flight of money caused Vanguard to sell as much as 15% of the assets and the selloff caused “enormous” tax bills to the main street investors and not to Ultra wealthy investors. Did you notice the minimum investment was 10,000 in 2022 to avoid 20.00 service fee and now is being raised to 1 million for Main Street Investors?

@suzanneschrader1622 Жыл бұрын

I think they events you describe happened in December 2021, not December 2020. What is the status of the class action lawsuit against Vanguard in connection with these events? I can't find anything in the news.

@rentslave 11 ай бұрын

That's quite a jump. They should have made it 500K.

@sharonlessard5747 Жыл бұрын

Thank you so much for this video!!!!!!

@MatthewBuntyn Жыл бұрын

Vanguard hasn't upset me enough to move my accounts, but I have been telling people to open accounts at Fidelity because of the low fund minimums and the ability to buy fractional ETF shares.

@Ladran_Sancho Жыл бұрын

It's almost impossible to get ahold of a live person at Vanguard. For this reason, I have been doing the same as you.

@garfieldodie9771 Жыл бұрын

It’s now possible to buy fractional ETF shares with Vanguard.

@mtgwdefender Жыл бұрын

@@garfieldodie9771 how?

@garfieldodie9771 Жыл бұрын

@@mtgwdefender Just choose the dollar amount option instead of number of shares option when purchasing.

@ljrockstar69 Жыл бұрын

@@garfieldodie9771 i dont think so

@13noman1 Жыл бұрын

Like you, I've been with Vanguard for decades and encouraged many others (family members and friends) to do likewise. When I rolled over my 401k to their IRA I was "given" an advisor and that was quite good for awhile, too. But I've since had a change in advisors, customer service has gone down, I've run into occasional technical glitches -- all enough for me to question my choice and explore alternatives but for now, I'm staying put due to the hassle factors of a major (financial) move.

@charlesbonkley Жыл бұрын

These fees caught me by surprise! Came here to learn more.

@michaelevans5328 Жыл бұрын

Super helpful, Rob. Our family has been with Vanguard for more than 40 years, but we are moving more and more of our money to Fidelity.

@seoungheela8464 Жыл бұрын

I had very bad experience . I should move out.

@vevenaneathna Жыл бұрын

have fun paying 10-200x more in payment for orderflow with fidelity... except u wont be able to claim it as a loss on ur taxes. theres a reason it was invented by bernie madeoffwithyomoney and it is the invisible microtansaction you will pay to hedgefunds for the forseeable future with any large broker now other than vangaurd.

@joevelasquez2757 Жыл бұрын

Thanks Rob

@popoy6985 Жыл бұрын

Thanks for this video

@Yette Жыл бұрын

Gotta agree, as someone with accounts at both Vanguard & Fidelity, the customer service and digital interfaces at Fidelity far exceed Vanguard. The cash management at Fidelity is also exceptional. In terms of fees to manage index funds, the companies seem comparable.

@dustindodge5974 Жыл бұрын

Maybe just me but once I hit the Voyager limit (I think that's the threshold) it has become very easy to speak to a person at Vanguard.

@SpaceTravel1776 Жыл бұрын

Don't get either of your claims. How is Fidelity's "cash management" exceptional? And Fidelity's index funds fees are far higher than Vanguards with the exception of Fidelity's SP500 index fund.

@Kimmer Жыл бұрын

Fidelity recently began managing my 401K thru my employer, and I haven't been impressed with the website or customer service. Perhaps it will take some time, but I find Vanguard's website to be better in most respects.

@SpaceTravel1776 Жыл бұрын

@@Kimmer The section of Fidelity's website that handles 401ks, called "NetBenefits," is not as slick as its normal brokerage website used for individual and non-410k retirement accounts (IRAs, Roths, etc). It's night and day.

@bernadettevickery7397 Жыл бұрын

Very helpful, I have a much better understanding.

@jamesrobertson504 Жыл бұрын

Thanks for this video Rob! While I have the brokerage account, my 92 year old mother has the old traditional mutual fund accounts and she gets all documents by mail. I'd set up an online account for her many years ago, but access was shut off due to inactivity. So hours on the phone with Vanguard (most of the time waiting for a rep to answer) and they said she had to send a letter to El Paso, TX to reactivate her online account. The phone rep said the deadline is 9/30 to convert to a brokerage with online delivery of all documents to avoid the fee. What slays me is that they couldn't reactivate the online account over the phone after verifying Mom's identity. While $20 per mutual fund account doesn't seem like much, it is for small account holders like my Mom.

@davidmiller6981 Жыл бұрын

Just went thru same thing five different representatives

@georgen9755 11 ай бұрын

jamesrobertson504 , charlesjaxon marietailor ? everyone's mom are aged 92 ? suspicious age .......?

@jamesrobertson504 11 ай бұрын

@@georgen9755 She's 93 now, so is that more suspicious? Her cousin is 95. Her great grandmother and mother made it to 91.The women on my Mom's side of the family live a LONG time.

@aurum3647 Жыл бұрын

@9rows Жыл бұрын

⬆Yep, what Aurum said. 👍

@noreenn6976 Жыл бұрын

But if you have mutual funds only, you get charged even if you do e-delivery.

@canyonoverlook9937 Жыл бұрын

@@noreenn6976 Just change it to a brokerage. You don't have to by any individual stocks.

@jturincs Жыл бұрын

And now that minimum account fee is up to $5 million. crazy. Bogle would be seriously disappointed in the direction Vanguard is going.

@homer2336 Жыл бұрын

I was hoping you would show how to convert these accounts. I called Vanguard, waited over an hour to get someone, and then got disconnect immediately after I gave her my info. I'm definitely not pleased with them at the moment.

@pomme4moi Жыл бұрын

This all seems like a storm in a teapot. Vanguard has been trying to get people to move from mutual fund to brokerage accounts for years. Now they seem more serious about it. They do, however, need a much better program to communicate what they are doing and why.

@canyonblue737-8 Жыл бұрын

I agree. If I understand this right, moving to brokerage accounts (most are already on them anyway) and signing up for electronic documentation vs. paper docs sent to your home waive all the fees even if you don't meet the $1 mil in total assets. I mean unless you really want to have paper sent to your house isn't this a non issue? I do think customer service issues, the website/app, value in their PAS service, and how they handled target date funds in taxable brokerage accounts is the bigger issue, it isn't fees that most won't pay and can easily be avoided.

@paulacothren3591 Жыл бұрын

@@canyonblue737-8 Yes, David, I agree with your list of the bigger problems at Vanguard.

@JesseHeap Жыл бұрын

@@canyonblue737-8 spot on - this is a red herring. This is a non-issue in my opinion. Hopefully they are focusing more on their digital experience and customer service - areas they need improvement.

@richardhead2318 Жыл бұрын

Schwab and Fidelity have better services without all the fee headaches.

@justingoff7073 Жыл бұрын

How to decrease fees with Vanguard: Step 1- choose a new brokerage

@ph5915 Жыл бұрын

I agree. Back in the '90s, I thought Jack Bogle and Vanguard were tops. Still think Mr. Bogle is. My last company used Fidelity to manage the 401K and pension, so I rolled everything over to Fidelity when I left (they reached out to me). I was really impressed to meet the Fidelity folks at their local office, they helped migrate everything over and it went smoothly, listened to me and where my understanding of things, and had some alternatives I'd never considered. Any time I email or want to talk, they are super responsive. They set up calls with me a couple times a year just to keep in touch. I, too like their apps and website. You just come away with this slight inkling that Vanguard has lost a bit of its luster. Perhaps Fidelity isn't the least expensive, but I haven't had any complaints.

@johnmarino8955 11 ай бұрын

This video is spot on......And like others have said, the requirement is now $5M. Indeed, John Bogle would be disappointed in his company's legacy now. Fees are an antithesis to his philosophy. Bogle will always be a hero for me as he showed the little guys, like me, how to participate in capital markets with reasonable success. But I digress.....I moved my Vanguard index funds over to Fidelity "in kind" with no realized gains. I am saddened as I have had those funds for over 2 decades with the company. The Fidelity rep at the investor center told me I was not the only one to do so, and in significant numbers.

@phillymathguy8142 11 ай бұрын

If you moved them "in kind", then you still own Vanguard index funds, not Fidelity funds. Check how much Fidelity will charge you if you want to make an additional purchase. I think it's $75. Vanguard is not one of their NSF fund families.

@Mike-123 Жыл бұрын

Yeah, I recently did an account transfer involving Vanguard. Their customer service is pretty terrible. The phone waits are long. The information you get is sometimes incorrect. I hope they get it turned around. In the meantime, I agree with you on Fidelity.

@Mark-ow6xr Жыл бұрын

One of my accounts with Vanguard is an inherited Roth account. I was notified that they are no longer automatically withdrawing my RMD and it will have to be done manually. Just another service that is being discontinued or changed to what is best for Vanguard not the customer. Sad to see the decline of Vanguards customer service. Boggle would be disappointed to see the direction his amazing company is taking.

@todamoon55 Жыл бұрын

I agree they have been making a lot of changes and their services have hit dirt. It’s likely the loss of the founder. I cant believe they don’t return calls for major tech issues.

@brichard9485 Жыл бұрын

Amen! Vanguard was the bomb 20 years ago, but even their Flagship members don't get any consideration these days. Transferring assets to Fidelity as fast as I can. Referred at least a dozen two Vanguard over the years, but will no longer do so

@garybenhart Жыл бұрын

I recently started moving my Vanguard brokerage accounts to Fidelity after primarily being a Vanguard customer since 2013. The poor telephone customer service at Vanguard has been ongoing and noteworthy but the final straw was Vanguard deciding to take away my commission-free trades.

@libation14221 Жыл бұрын

Like the old saying...While the cats away the mice will play. Jack was retired but kept an eye on things. Now that he's gone the mice are nibbling at the cheese.

@robertmirolo3755 Жыл бұрын

I totally agree with your opinion. I too have been with VG for a very long time. Customer Service is terrible with long wait times. I have also tried to use their email or "contact us" section of the website. I either get no answer at all from VG or they contact me 10 days later which is unacceptable. I don't think $ 20 per year per account is unreasonable if you chose to get paper statements. It costs VG more than that to print and mail statements. So, I don't see an issue with that. Personally, I have all my statements sent via-email so I don't pay that fee. The most concerning thing is the lack of timely service. I have watched other You Tube videos on Fidelity and VG and most say the same thing. Fidelity has much better service and website than VG. I am considering moving my accounts to Fidelity but have a few more questions before doing so. Thanks for you video Rob

@mr.gadget1198 Жыл бұрын

My wife and I recently converted our Vanguard 'mutual fund only' accounts to 'Brokerage' accounts ... which destroyed the "full authorization" that we had over each other's accounts! We had established the authorizations years earlier, which involved physical paperwork, 'wet' signatures, a notary, two witnesses, postal mail, and the turnaround-time thereof. Now they say we need to do the whole process over again! I would caution others who might be in our same situation.

@dre3951 11 ай бұрын

I did not have that exact problem, but similar incompetence at Vanguard is making me look to leave. Have been with them since the 80's, manage my parents' accounts there, and I am being driven away by the support incompetence. I have found that when things can be done without getting a human involved (even including sending in a form), things work as they should. But as soon as you find yourself talking to a CSR or flagship advisor, watch out because things are about to break down. And BTW on your problem, I purposely have resisted their suggestions to make the change (and advised my parents the same), with the thought that it just gives them another chance to screw things up. So hearing your story confirms my expectations here. And with Flagship, I pay no account fees and get near instant customer support. But still, if the quality of support is terrible I can't put up with this any longer. My main concern is whether Fidelity or Schwab will have similar support incompetence challenges - and that is really the only thing I care about.

@rentslave 11 ай бұрын

I told them that I wasn't going to do it because I refused to stop a direct deposit from the Feds,as it's way too much trouble.Let them charge me the 50 bucks for my two accounts.

@poolmilethirty2859 9 ай бұрын

Agree, I find Vanguard's statements very confusing and I just had to switch account and do paperless to avoid fees.

@SilkCrown Жыл бұрын

Back in 2018 I was trying to open an account with Vanguard, but they wouldn't let me unless I submitted the application on paper through the mail. Needless to say, I went with a different broker.

@carlbook2051 Жыл бұрын

If it is just an initial inconvenience, I don't get too excited. But if the relationship will involve continual issues, it may not be a good fit. I'm buying Vanguard ETFs in my Etrade brokerage account. I know other companies have competitive products, but I am familiar with Vanguard. It works well for me. I do like paper statements and hate fees.

@123jochi Жыл бұрын

Had Vanguard asking me to do the same. Its no wonder why they are raising fee's there probably spending millions on Paper/Printers and paper application processing. Its 2022 going paperless is a no brainer. Fidelity has been great.

@elaineiannon Жыл бұрын

Well now, Vanguard requirements are going up even more. You have to have $5 million in qualifying Vanguard assets, if you don't want e-delivery. It was $10,000 last year, then it changed to $1 million, now it's $5 million. The main problems I see with their brokerage statements, unlike their original statements, is that the December statement does NOT encompass the whole year, i.e. it is not year-to-date and you can't write any notes on an e-statement. And I don't trust what Vanguard is going to do next. -e

@DM101L Жыл бұрын

Yep, that 5 million requirement, really turned me off with Vanguard now. I have had both Vanguard and Fidelity accounts for the past 35 years. Both had their pros and cons. However, after this, I certainly prefer Fidelity. Vanguard is going downhill.

@profanegaming2829 Жыл бұрын

I feel as though this is an issue about the general business structure of businesses as they exist right now. They exist in two phases. Phase one is client acquisition. Phase two is draw down. In phase one, you do whatever you can to get as many clients as you can. In phase two, you realize that client growth has peaked and now the way to more income is by milking the clients you have. For example, it's better from a purely monetary standpoint to get $50 from one person than it is to get $10 from 4 people. Client loss is acceptable if revenue increases. The airlines do this. Essentially, you're fine with bleeding clients if those that are retained cover the loss.

@carlbook2051 Жыл бұрын

Their costs are rising and they have to either reduce costs or increase revenue. What would you do if you were in charge?

@JoeSmith-jd5zg Жыл бұрын

Ever since Bogle died they've been getting worse.

@mmactc Жыл бұрын

For what it’s worth I was just on Vanguards website, seems like they have redone it so far at least it’s much better in my opinion. Now if they can just get the wait down on there phones we will be back in business!

@vincentslusser9205 Жыл бұрын

I left VG. I've had my personal long term $$ at Fidelity for a couple of years.

@coffeecup3177 Жыл бұрын

Vanguard has made it easy to decide to move money to other brokerages in the last several years due to lack of customer service. I was surprised when Fidelity phone system was open overnight to handle calls and answer questions. For 35 years I encouraged others to follow indexing and purchased Bogle's book as gifts to others. I just sent 2 books to a couple of youngsters I met with a note to look at both Schwab and Fidelity and avoid Vanguard. Sad.

@sweethomechicago Жыл бұрын

Absolutely true. Called on new year's eve 2021 with a question about a last minute it's account opening. They answered.

@VoteBlueNov.2024 Жыл бұрын

We've had many problems with vanguard and plan to move our assets to our other accounts at fidelity this year

@ReizarfEgroeg 3 ай бұрын

At Vanguard, you’re more than just an investor-you’re an owner

@caliwish7585 Жыл бұрын

I think Fidelity is picking up the baton from the spirt of Jack Bogle.

@scottphillips7050 Жыл бұрын

I recently moved my Roth and traditional IRAs from TRP to Vanguard (much lower ERs) and the Vanguard folks couldn't have been more helpful. TRP dragged their feet on transferring the funds and the Vanguard rep initiated a 3-way call with all of us to get to the bottom of the delay. I hope my luck doesn't change now that they have my $$!

@Noah4evaa Жыл бұрын

You still like vanguard? Would appreciate your input

@scottphillips7050 Жыл бұрын

@@Noah4evaa I do. The biggest knock on Vanguard was how antiquated their user interface was -- kinda early 2000s vintage. They've made some strides on that recently. I've never had an issue with phone customer service, though I know some have. Hard to beat how inexpensive their funds are.

@Noah4evaa Жыл бұрын

@@scottphillips7050 do you use their financial advisor resource? Thanks again, contemplating switching from current firm, welcome any input

@scottphillips7050 Жыл бұрын

@@Noah4evaa Have not used that.

@Random-ld6wg Жыл бұрын

now i better understand the logic behind it. i reviewed my vanguard accounts and i do have 2 mututal fund only accounts at this time a traditional rollover as well as my taxable mutual fund only account under our trust (my first accounts at vanguard). i do have a traditional ira brokerage account i can transfer to as well as a taxable brokerage account i can shift the money to or if allowed maybe i can just convert it to a traditional ira brokerage without mixing it with my other traditional ira brokerage account(i want to keep the money separated as it lets me know at a glance how much the amount is compared to when initially transferred years ago). i am not affected by the pricing change but if it saves money for vanguard i will likely transition those accounts but instead of doing it online i will probably call customer service to answer questions as well as some handholding and reassurance that the event wouldn't trigger any tax consequences( i don't think so but it never hurts to double check)

@investingwitha-aron8055 Жыл бұрын

Thank you Rob for the information. I feel this will catch alot of people off guard and customers won't be happy, not knowing the annual fee will be imposed on the change to a minimum balance of $1 million.

@urbinblytte429 Жыл бұрын

Seems VG has taken their eye off the ball. current management seems less committed to JB's mission. Maybe a transition to FD would be prudent, if only partially, at this time?

@aconsideredmoment Жыл бұрын

Instead of everyone receiving low cost ESG-friendly e-delivery paying for printed copies, this shifts the costs to individuals choosing a higher cost service option. It seems outrageous at first glance, but it is pushing the issue for the holdouts who have not opted into e-delivery. From that perspective, seems fair. There may need to be a grandfathered group without computer literacy. It is not neutral because switching costs even into an equivalent fund at another firm can create sig taxes. On the heels of the cap gains burden they just created last year where costs were allocated to those left in certain funds, this does seem like a ship that lost it's way in the larger context. I would put new money elsewhere for fear of what may be next at Vanguard but not elsewhere. I am seeing a similar losing the way, legacy systems, and floundering leadership response in USAA worsening under an ongoing push for growth. The answer is likely consolidation, improvement, and then continuing growth. Similar to Ford.

@AnnAmbler Жыл бұрын

This really doesn’t have much to do with eDelivery, especially since it now doesn’t prevent fees on mutual fund only accounts.

@pj3998 Жыл бұрын

Have to wait sometimes for 30 minutes for customer service! Sucks!

@seriousfaith Жыл бұрын

@Rob Berger... I just got the email for my son's and my account. Since we're doing e-delivery, there isn't a fee. I've got roughly half of my funds in Vanguard, half in Fidelity. Any disadvantage to just moving it under one umbrella? I seem to remember a video on that, but I can't seem to find it.

@steveh6062 Жыл бұрын

Earlier this year I wanted to move 188 stocks from 2 accounts at Merrill Lynch to 2 accounts at Vanguard, an in-kind transfer. Obviously two very large brokerage houses that you would assume have made this type of transaction thousands of times. It was a nightmare and took over 3 months to get it done. They both had rules for in-kind transfers but neither one seemed to know or understand each other's rules. Vanguard seemed to be a manual process that could only handle 24 stocks on each transfer document. Vanguard completed about 8 documents to transfer the stocks and sent them all at once to ML. ML had a limit on how many shares they could process at a time. ML just rejected any requests from Vanguard that was over their share limit. We had to wait at least 2 weeks to see what stocks transferred, then put in another request for more stocks, 24 or less at a time. Vanguard apologized to me about every day, but there was nothing I could do. It almost sourer me on Vanguard, but I'm still with them and never want to do an in-kind transfer again.

@AnnAmbler Жыл бұрын

Full in-kind ACAT transfers should be straightforward, but sounds like you had a partial transfer which can definitely vary firm to firm. It does make me wonder why you have more than 188 different stocks though…especially on a channel that loves index investing, with rare individual stocks. 😁

@steveh6062 Жыл бұрын

@@AnnAmbler That is what a 1% advisor will do for you. That is why I moved to Vanguard into a 6 fund portfolio. I'm been doing tax loss harvesting.

@AnnAmbler Жыл бұрын

Ouch. That’s pretty bad even for a 1% advisor. Glad you left.

@remowilliams7569 Жыл бұрын

Vanguard is not the company it once was when Jack Bogle steered the ship.

@karengaudet7006 Жыл бұрын

I have been on hold with Vanguard for over 40 minutes. I was not able to convert a joint account held with my sister and hoping to get it resolved in the call. Don’t know why that would be any different from the joint account I hold with my husband which transitioned easily. Customer service is seriously lacking at Vanguard and I will be looking at Fidelity for future investing.

@christopherflynn843 Жыл бұрын

Try being in the UK account frees are percentage based. £15,000 + cost over $26 converted from GBP

@jonathans3110 Жыл бұрын

Found this while I’m in the process of transferring my Roth to Vanguard 🤦‍♂️

@tc6935 Жыл бұрын

I have fidelity for my brokerage account but last year I thought I'll open a vanguard account to split my money between the two but vanguard website crashed 2 times while in the middle of trying to open a new account. So I gave up and stick with fidelity.

@dicklongmire6836 Жыл бұрын

I have a million with Vanguard and also signed up for e delivery a long time ago so I shouldn't see the $20 per account fee and I must have been a last minute hold over because my profile page didn't update to the current interface mess until a few weeks ago. The new look is horrible. Just the ability to transfer from your bank account to invest and tranfer dividends out is gone from the main page and the only way I can find it is to got to the bottom of the page and click Buy & Sell unless I'm missing something. I used to sugest Vanguard to others however on a whim opened a Fidelity brokerage account the interface is so much easier.

@bobnyberg6328 Жыл бұрын

Vanguard has hidden the daily closing tables for asset classes for their funds and ETFs. Until a couple of weeks ago one could find the closing values in one or two charts including ytd, one yr 3 yr ect. Please tell me if there is some place to find this important information! Thank you Bob N

@dmjh932 Жыл бұрын

Vanguard is the best for fees and remains so. You can easily avoid the fees.

@rgarri6396 7 ай бұрын

Been with vanguard for 40 years and service has gone way down! The problem is way to many people and they just can’t handle the load. Sad for new investors, fidelity should be looked at.

@kathyflinn8530 Жыл бұрын

I like Vanguard but their technology is not great. Recently my daughter opened a Roth IRA. The website kept having technology issues so it required a lengthy phone call to get the account up and running. I wouldn't change bases on that but it makes me wonder if I would like Schwab or Fidelity better.

@srconrad Жыл бұрын

I had been thinking about this before I knew about this but this would be a great topic for your channel. To review and contrast the available online brokers. I’ll be retiring early next year and I plan to move my sizable 401k to an IRA. I’ve been with Vanguard for a very long time but there’s no reason and I can’t move my funds to another broker. Let’s be honest, Vanguard’s online technology is behind the times. I mean you kind of already answered it when you said you’d go with Fidelity over Vanguard. But how about the others? TD Ameritrade, Interactive Brokers, E*Trade, etc.

@srconrad Жыл бұрын

And I don't know how I forgot Charles Schwab where I have my checking account. They might be best for me since I already have a presence there and they're highly reviewed. I also discovered in my research that they have acquired TD Ameritrade.

@dbest4755 Жыл бұрын

Yep,Vanguard just hit me with transaction redemption fees AFTER I made investments just few days ago...

@endlessawareness Жыл бұрын

Hi Rob, just to clarify. If I hold VTI in another brokerage, do the new fees apply? Thanks!

@sangjinlee2641 Жыл бұрын

Is there any way you can make a video or clarify where to find "Expenses Paid During Period" using Vanguard's platform? I was reading through one of the annual reports for VYM (etf) and noticed that section. However, I wasn't able to find the heading "Expenses Paid During Period" anywhere on their platform. Thanks

@reddragon3518 Жыл бұрын

Rob would you be interested in a situation where MetLife is calculating RMD's incorrectly? I inherited an IRA and they are taking out twice as much as required. How many people have they done this to. Its crazy!

@steveh6062 Жыл бұрын

I was treated very badly by MetLife and will never do business with them again!

@Jerseygirlinberkeley1 Жыл бұрын

If you are running for political office, a mutual fund only account is better in terms of disclosure.

@wheeljack0 Жыл бұрын

Nice Rom CGC in the background. Is it a 9.8?

@user-rf5oc2xl7g 7 ай бұрын

I have a call with a vanguard advisor on the 28th I'll fill you in on what is said.

@JA-zh6ew Жыл бұрын

I believe that Vanguard is the only large broker to offer a Solo 401K plan (both employer traditional and employee Roth), but the accounts can only hold Vanguard mutual funds. For this purpose, it’s worth the $20 per fund charge.

@andrewep2816 Жыл бұрын

I think there are some Vanguard investments that can only be purchased no-fee (NSF) at Vanguard. A tax managed mutual fund comes to mind. Am I correct?

@michaelstancato6057 Жыл бұрын

Vanguard has a third world customer service crap hole now. Unintelligible non-native speakers with a loud background noise of a giant stadium phone pit. I’ve been with them since the 1980’s and it’s markedly bad now!!

@DM101L Жыл бұрын

Same here. I have had both Vanguard and Fidelity accounts for the past 35 years. Both had their pros and cons. However, after this, I certainly prefer Fidelity. Vanguard is going downhill.

@johnmarino8955 11 ай бұрын

Indeed, my experience was similar on more than one occasion. It made me think that the rep was uneducated and gave me pause about the company........

@Seoulsearch616 Жыл бұрын

Thank you so much for this update. I was considering investing with Vanguard a few months ago, but after listening to all this, I think I will go elsewhere. Thank you for helping us make informed decisions! 👍

@noreenn6976 Жыл бұрын

I'm with Vanguard but thinking about switching for two reasons, clunky website and it takes too long for my contributions to post. Now I have a third reason. Wonder what fee they'll charge to move my money out?

@clifford629 Жыл бұрын

@@noreenn6976 I think the 2-day transfer time is a banking standard or government regulation. @Rob_Berger would probably know better.

@noreenn6976 Жыл бұрын

@@clifford629 good point, I bet you're right.

@kishormistry2581 Жыл бұрын

+ Rob very useful video. Question: I have Vanguard funds if I decide to move to Fidelity do i have to liquidate all my mutual funds or i can still keep Vanguard funds in Fidelity??

@colecarpenter3022 Жыл бұрын

Vanguard makes it easy to avoid fees just have statements and other materials sent electronic also they just added no minimum to buy any Vanguard ETF's for as little as 1 dollar per investment so unlike the past Vanguard is going after a different demographic instead of just the high net worth clients Their Cash Management account just offers check writing for any amount I hope in the future they will offer a debit card I have my other account at Schwab for my individual stocks I enjoy both accounts but I think Vanguard now offers no minimum Vanguard ETF's is a huge step forward

@mmactc Жыл бұрын

Like most comments here I have recently had issues with Vanguard imho their website and app are terribly annoying. This fee issue is something that gets away from John Bogle’s core believe low cost! I have an HSA account at Fidelity I am giving serious thought to transferring my entire account to them. Sad to see this happen I have been a Vanguard client for at least 40 years.

@1jet55 Жыл бұрын

I have accounts for each of my daughters and each have 3-4 mutual funds in them. Does anyone know if I move the funds as they stand to a fidelity account in their name if the fees would still be charged by Vanguard or is it a way to escape the fee. Paying 4 basis points does not mean much when their is a 20$ charge thrown in on top of it. I have accounts with both but the service at Fidelity far outweighs the service I get when I call Vanguard.

@user-eh4ww9im8v 12 күн бұрын

Trying to convert an LLC account to the brokerage platform. It has been a nightmare!

@DDavis0226 Жыл бұрын

Great info Rob! Curious, why Fidelity? How about others? Would you also recommend Schwab? TDAmeritrade? I currently have all accounts other than 401k at TDAmeritrade. Nearing retirement. Looking to do the simple index strategies you talk about and have been wondering if TDAmeritrade is the place to transfer my 401k at retirement or if I should move to some other brokerage.

@SSY86374 Жыл бұрын

My biggest issue is the big downgrade of Vanguard mobile application. The app used to offer most features available just like using a browser, now the app is very limited in terms of what you can see or do. Why such a stupid change?

@dlg5485 Жыл бұрын

I've had Roth and brokerage accts at Vanguard for over 10 years and I have had a mostly positive experience. I was first drawn to Vanguard because they are an investor owned company, which really appealed to me. However, they have never been the most tech advanced firm and that seems to have gotten worse over the years. These fee changes don't affect me personally, but it does indicate that the firm is moving in the wrong direction compared to competitors. I have been looking at moving these accounts to Fidelity, but I do prefer Vanguard's index funds and it's nice to be able to invest in them for free. I think I will sit tight for now.

@mtgwdefender Жыл бұрын

I recently opened custodial Roth IRA's to my children. I am trying to go paperless on their accounts but I can't find the way. I can see / change my personal settings, but not theirs. Their accounts are within my own login. I called Vanguard, but the waiting time is more than 1 hour.

@shy_gamer Жыл бұрын

I don't like Vanguard's website update either.

@davidcarlin3850 Жыл бұрын

When converting from mutual fund only to a brokerage account, would you lose all the purchase price data you amassed over time during dollar cost averaging? How do they do all those conversions ? I keep getting asked to convert to a brokerage

@OnCashFlow Жыл бұрын

I guess it's not that big of a deal, but I have always preferred accounts with no minimums, no fees, regardless.

@kerney3043 Жыл бұрын

I would agree that Vanguard is going in the wrong direction and it's sad as I am a huge Bogle fan including reading some of his books. Here is my example...We were setting up a Roth IRA for our daughter when she had a $1000/year summer job. We could not electronically set up the account and had to mail in all her documents which took several weeks. Then we had to hook it up to her bank account which was another week. Only then did I realize their minimums on their mutual funds were $3k and Vanguards response was buy the ETFs, but the ETFs at the time were in the $200-400/share range (no fractional shares that I knew of) so she would have had a large amount of cash sitting there. So went over to Fidelity.....Account created in minutes shifted the funds over from Vanguard. Of course as she has now aged the Roth has grown and she has added an aftertax brokerage account. She'll be a millionaire one day and Vanguard lost her business. I got the name of one of their senior folks off their website (think she was responsible for customer service) and wrote her a letter about our experience. No response. My wife and i still have accounts at Vanguard and get the routine email / questions about 'rate your satisfaction'. Never any feedback that way either.

@alanyoung159 Жыл бұрын

How can you tell what kind of account it is when you log in?

@robertjohnson4401 Жыл бұрын

I don't see this as an issue. If you have the brokerage account and have e-delivery, there are no fees even for low dollar investors. Vanguard is doing this to keep their costs down and to pass those savings on to their investors.

@kevinparham8315 Жыл бұрын

Thanks for the advice. I was weighing heavily towards VanGuard because of their lower fee structure. Now that they have levied the playing field, I can give consideration to other financial firms such as Fidelity, Charles Schwab, Empower Enrichment, etc.) who offer more then just price structure. I am a huge fan of fidelity’s but Vanguard is member owned and pretty much had me sold, now I can look elsewhere. Great video and thanks again.

@sandrahaskell8042 Жыл бұрын

Thank you for this video. I recently had to change to a brokerage account to avoid fees. Now I'm having an issue with obtaining my check writing ability on one of my accounts. They are forcing e-delivery. Been with Vanguard for many years and never had a problem.

@pj3998 Жыл бұрын

They have slow transactions too.

@danshalom 5 ай бұрын

I have a Personal Advisor from Vanguard, due to the changes in the fees I am evaluating moving to a 1. Target Date fund 2. Move to a Individual Account with Vanguard (do not want to use Robo Advisor) I dont see the value of paying .20 or .35% Question is it is expensive to buy Vanguard funds from other brokerages such has Fidelity and Robinhood. I do have account with Fidelity and 401K.

@savannahb5381 Жыл бұрын

Was considering a move from EJones to Vanguard but get conflicting information from the Vanguard rep. Do you know if Vanguard will cover the fees to move from EJones into Vanguard?