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Is it time to move investments out of Vanguard?

gpsabol

With the continuing issue (now more than a week) of not being able to connect to Vanguard for downloads, and the apparent laissez-faire attitude by them toward the Quicken for Mac subset of their clients, is it time to begin researching other companies to transfer investment accounts? The headaches associated with doing this create friction, but I am getting increasingly annoyed at Vanguard. What are your thoughts?

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Comments

Jon

Since I only have an IRA there and there's very little activity in that account I don't plan on moving it regardless of how this plays out. But if I had a more active investment account , or an account I was using for daily spending, I would be more annoyed. In any case, it seems to me that connection issues typically take weeks to get fixed, so I don't know that you'd get better results if you moved your account somewhere else & they had a similar problem.

jacobs

There are a number of posts in the various Vanguard threads here which indicate that Vanguard has acknowledged the issue and promised it will be fixed (but not when it will be fixed, probably because it depends on them using a third-party for their connectivity).

I personally wouldn't jump through hoops to shift accounts to other brokerages over this issue, unless it lingers beyond a few weeks. You never know if Fidelity or Schwab or some other brokerage will have a different disruptive issue next month!

NotACPA

All of that said, I've been a Fidelity Investments customer since the late 1970's and have been very happy with them, and I consider their support of Q to be the "Gold Standard" that other FIs should strive for.