Both my retirement and taxable investments were with Vanguard for years. Three or four years ago I tried opening up a trust account for my wife, but over a week after submitting the paperwork they still couldn't tell me when it would be opened. That afternoon I contacted Schwab and the account was open the next morning. Vanguard would not withhold state taxes from the RMD of an inherited IRA, only when required by law. The shares Vanguard sold to generate cash for my RMD one year generated 20 or 30 cents more than the RMD. The reason I left Vanguard and switched to Schwab and Fidelity was Vanguard's sending me the amount of the RMD and keeping the extra pennies. I called and was told it was just a rounding error, they wouldn't pay me my money or even deposit it into my account as cash. John Bogle is turning over in his grave.
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Both my retirement and taxable investments were with Vanguard for years. Three or four years ago I tried opening up a trust account for my wife, but over a week after submitting the paperwork they still couldn't tell me when it would be opened. That afternoon I contacted Schwab and the account was open the next morning. Vanguard would not withhold state taxes from the RMD of an inherited IRA, only when required by law. The shares Vanguard sold to generate cash for my RMD one year generated 20 or 30 cents more than the RMD. The reason I left Vanguard and switched to Schwab and Fidelity was Vanguard's sending me the amount of the RMD and keeping the extra pennies. I called and was told it was just a rounding error, they wouldn't pay me my money or even deposit it into my account as cash. John Bogle is turning over in his grave.
Post: Disappointed (and annoyed) with Vanguard.
Link to comment from October 25, 2025