No. of Recommendations: 1
I'm just about ready to transfer my Vanguard IRA into my Fidelity IRA after the last few days.

I have a program to re-allocate my portfolio over the next 12 to 18 months. Thought I'd dollar-cost average the transactions. Surprise! Vanguard only allows 2 online or telephone transactions per year in 500 Index fund (and several other index funds). Only way to do it is to send written instructions each time. No limit on number of transactions but no control over timing either given the variable of mail service.

So I sent the first letter of instruction. Clearly identified the funds involved by name and number or symbol. $10K from 500 Index to REIT Index. REIT is a new fund for me so I also confirmed I had read the prospectus and to setup beneficiary, etc. identical to all my other funds. Simple, right? Nope. Logged in this morning and discovered they had opened a GNMA fund account with my $10K. Call to my Voyager representative. Oh, we're sorry. We'll fix it. Probably take a day or two.

I pointed out rather strongly that if they didn't have those ridiculous restrtictions on online exchanges I could have done the whole thing correctly myself. I also told him they are one step closer to losing a $400K+ account.

No wonder Vanguard has low fees. They hire idiots.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.