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Vanguard rant

Old 06-13-2019, 12:52 PM
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I've been with Vanguard for well over 25 years and have been a "flagship" client for at least 15. I get a letter last week saying that my balance has been below Flagship's required minimum for some time and that I may no longer be eligible. I called today and a representative informed me that the minimum balance has to consist of all Vanguard products.
I'm like WTF? Since when did this start? He said it had always been that way. I told him I had never met the minimum with just their products but when combining individual stocks/funds/etf's and some Vanguard products then I do meet the minimum.

When I google to find out just how the wording is, I'm not seeing anything that says it all has to be in Vanguard Products-

"https://investor.vanguard.com/investing/benefits/flagship

"
Eligibility is based on total household assets held at Vanguard, with a minimum of $50,000 to qualify for Vanguard Voyager Services®, $500,000 for Vanguard Voyager Select Services®, and $1 million for Vanguard Flagship Services®."

I would think "total household assets" would be a variety of investment products not just Vanguard funds.

Anyone else get that letter?

Old 06-13-2019, 12:59 PM
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Seems pretty clear to me. If you have a million dollars held at Vanguard you are "flagship" if not then you are not. Looks like you have shorted the highlighting. "total household assets held at Vanguard"
Old 06-13-2019, 01:02 PM
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Originally Posted by DreamWeaver21 View Post
Seems pretty clear to me. If you have a million dollars held at Vanguard you are "flagship" if not then you are not. Looks like you have shorted the highlighting. "total household assets held at Vanguard"
Well this non vanguard link clearly states that it must be in Vanguard products. However, at Fidelity, all assets count not just Fidelity funds. Hmmmmm........

https://thefinancebuff.com/vanguard-...e-account.html
Old 06-13-2019, 01:04 PM
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I think you have this in the wrong thread...... please move to here:

Humblebrag Challenge
Old 06-13-2019, 01:05 PM
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Switch to Fidelity.
Old 06-13-2019, 01:14 PM
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Just transfer 3 million from your checking account.
Old 06-13-2019, 01:22 PM
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Their website tells you what assets qualify, and they must be vanguard or annuities through vanguard.
Old 06-13-2019, 01:24 PM
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Do you even flagship bro?
Old 06-13-2019, 01:29 PM
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See what Vanguard assets qualify for these services
Eligibility is based on total household assets held at Vanguard, with a minimum $1 million to qualify for Vanguard Flagship Services®. We determine eligibility by aggregating assets of all qualifying accounts held by you and your immediate family members who reside at the same address.

Assets that qualify

  • Vanguard mutual funds.
  • Vanguard ETFs®.
  • Certain annuities through Vanguard.
  • The Vanguard 529 Plan.
  • Certain small-business accounts.
Note: Assets in employer-sponsored retirement plans for which Vanguard provides recordkeeping services may be included in determining eligibility if you also have a personal account holding Vanguard mutual funds or Vanguard ETFs.

Assets that don't qualify

  • Stocks.
  • Bonds.
  • CDs.
  • Non-Vanguard mutual funds.
  • Non-Vanguard ETFs.

We review qualifications periodically

The qualification criteria (for example, asset levels) are reviewed periodically and could change at any time. Vanguard reserves the right to discontinue enrollment in any of these services or reassign any investor, without prior notification, to the appropriate service level if the investor fails to continue to meet the applicable qualification criteria. Vanguard reserves the right to amend or cancel selected features and benefits at any time without prior notification.

In addition, ongoing access by any particular investor to individual services, discounts, and exemptions is subject to periodic review and may be restricted based upon criteria established solely by Vanguard. While Vanguard Flagship Services is complimentary, some underlying services may charge fees and expenses. Vanguard does not guarantee any level of service.
Old 06-13-2019, 01:49 PM
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Been that way for as long as I remember.
Old 06-13-2019, 01:51 PM
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Reads pretty clear. If you don't like it simply move your money.
Old 06-13-2019, 02:28 PM
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They are obviously trying to get you to move all your assets into Vanguard vehicles. The obvious response is to move all your assets to another company.
Old 06-13-2019, 03:10 PM
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I hate when that happens....
Old 06-13-2019, 03:33 PM
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Originally Posted by BACKTOTHESEA View Post
See what Vanguard assets qualify for these services
Eligibility is based on total household assets held at Vanguard, with a minimum $1 million to qualify for Vanguard Flagship Services®. We determine eligibility by aggregating assets of all qualifying accounts held by you and your immediate family members who reside at the same address.

Assets that qualify

  • Vanguard mutual funds.
  • Vanguard ETFs®.
  • Certain annuities through Vanguard.
  • The Vanguard 529 Plan.
  • Certain small-business accounts.
Note: Assets in employer-sponsored retirement plans for which Vanguard provides recordkeeping services may be included in determining eligibility if you also have a personal account holding Vanguard mutual funds or Vanguard ETFs.

Assets that don't qualify

  • Stocks.
  • Bonds.
  • CDs.
  • Non-Vanguard mutual funds.
  • Non-Vanguard ETFs.

We review qualifications periodically

The qualification criteria (for example, asset levels) are reviewed periodically and could change at any time. Vanguard reserves the right to discontinue enrollment in any of these services or reassign any investor, without prior notification, to the appropriate service level if the investor fails to continue to meet the applicable qualification criteria. Vanguard reserves the right to amend or cancel selected features and benefits at any time without prior notification.

In addition, ongoing access by any particular investor to individual services, discounts, and exemptions is subject to periodic review and may be restricted based upon criteria established solely by Vanguard. While Vanguard Flagship Services is complimentary, some underlying services may charge fees and expenses. Vanguard does not guarantee any level of service.
Ou
opens a layerlayer closed

I guess I didn't search their site enough as I did not find that.
It's really not a big deal I guess. I don't use their advisory service or their management service. Just irritates me that after years of apparently not meeting their requirements, they decide to kick me to the curb, lol
Old 06-13-2019, 03:37 PM
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Originally Posted by Boataholic View Post
I guess I didn't search their site enough as I did not find that.
It's really not a big deal I guess. I don't use their advisory service or their management service. Just irritates me that after years of apparently not meeting their requirements, they decide to kick me to the curb, lol
a nicely appointed gutter, I would say paved with gold but schoolsout1 would come dig it up,.....
Old 06-13-2019, 04:40 PM
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I have been with them for 25+ years and I never knew about the Vanguard minimum stipulation. I have a couple of their fund so I guess I'm safe. Or since I'm not a Flagship customer maybe I don't qualify for the minimum?
Old 06-13-2019, 04:58 PM
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Flagship gives you personal concierge service, a certain number of free then discounted trades and a couple other bennies but no change in their fund fee structure
Old 06-13-2019, 05:33 PM
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Gives access to funds that are closed also
Old 06-13-2019, 05:42 PM
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Thanks for being a good Vanguard client and funding my wife's and my retirement from there!

Last edited by kone; 06-14-2019 at 03:58 AM.
Old 06-13-2019, 06:48 PM
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Hello FIDO. I've been with them for 40+ years, and have found their computer systems to be very easy to deal with. Their personal service has always been excellent too. I'll have to be making RMD's in another couple of years, and that's when I'm going to need clear, concise info on what I'm withdrawing.

When you get down to it, FIDO and Vanguard are very close in the way they operate.

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