Oisín Breen

I am transferring 5 accounts away from Vanguard. They are no longer a customer focused leader in my mind.

Very accurate, timely and nice description of state of affairs at Vanguard. Vanguard does still have some excellent funds and ETFs but I would hold them in other real brokers accounts rather than in Vanguard fake me too brokerage. Vanguard culture has become condenscending  to customers.

While large numbers of investors and advisors continue to rely on phone service, it is possible to identify those who are excessive users. However, before abandoning these users it is essential for a responsible institution to be certain that no emergency exists! Simply because someone called several times last month does not disqualify them from prudent treatment.
Before shutting the door on an investor or an advisor, the institution should determine if an urgent situation exists and provide a direct path to solutions.
Unfortunately, most IVRs handle emergencies very poorly with difficult access to someone who can help. Any cutbacks in phone service should be preceded by emergency access procedure.

Vanguard is not "firing grandma." Having worked for (insert discount 9.99 broker name) on the phone lines- there are a lot of 'clients' who will call for no reason other than to talk to a human knowing they can. They don't place a trade, they don't have a service need, they ask for one quote, then will go off on tangents just because they are lonely and need interactions. If one phone rep dumps the call quickly, they just call in and look for more interaction with the next person to discuss their gold stocks, the white house, etc. They are never even break even relationships, let alone profitable ones even if these are "owners". Other bd's have fired clients for the same reason, or in my previous spots case- they re-routed the phone number to the longest queues hoping they would call in less frequently.

Been with Vanguard since 2017, have never had a problem the few times I had need to call. Tried calling them 3 times last week,  never got through.  Told wait time was 1120 mins!, no call backs and now I have to fear I may be dropped for calling too much? Check please.

Brooke Southall and Keith Girard

Vanguard warns its phone-reliant investors of 'termination' -- without warning or explanation -- under new contract, effective July 1

Vanguard

The Vanguard Group

Vanguard Group

A look at the numbers shows that exchange traded funds are starting to move in lockstep with RIAs and vice-versa. RIAs invested $496 billion in ETFs in the 12-month period ended June 30, 2015 – that’s a $78 billion increase compared to the same period the year before. By comparison, the wirehouse channel added 20% fewer ETF assets, or $397 billion in the last year; granted, an amount that was $70 billion greater than its aggregate investment during the same 12-month period the year before, according to Broadridge Financial Solutions. RIAs that manage portfolios and make discretionary investment choices for their clients value ETFs because they provide advisors with easy access to market segments at a cheap price – an especially important factor for RIAs who are compensated on an asset-fee basis. Fee-based advisors appreciate ETFs’ tax efficiency, liquidity and broad exposure at low cost. Conversely, RIAs are a prized channel for ETF-makers like State Street, Invesco, PowerShares, Vanguard Group and BlackRock. ETFs are also a major ingredient in portfolios devised by robo-advisors -- essentially automated RIAs -- for the mass affluent who invest more than 90% of their assets using ETFs.

ETFs

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Investors who 'excessively rely' on telephone calls may first face longer hold times and pay fees for overburdening call centers after the $9-trillion manager amended its brokerage compact with new terms

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