Vanguard Clients Report Website Outages Since Christmas
For several days, users have complained the site "won’t provide account statements or transaction confirmations," says Vanguard watcher Dan Wiener.
Vanguard investors have lost access to account statements, transaction confirmations and tax and other forms for several days “due to a third-party service provider,” according to a message the firm sent to clients, with some clients taking to social media to complain.
The asset manager told ThinkAdvisor, in a statement Tuesday that it “has been made aware of a service interruption involving a third-party mailing and check processing vendor” which may affect “Vanguard clients and retirement plan participants,” delaying mailings and affecting access to “certain statements, confirmations, or forms via our website.”
Vanguard, which has over $8 trillion in assets, said its “teams are actively working towards a resolution [and] taking steps to minimize disruptions for clients such as working with our other vendors.”
The fund giant, along with other financial firms, is no stranger to online outages which have been reported several times over at least the past 13 months — in November 2020, January 2021 and July 2021.
“Christmas has brought yet another outage at vanguard.com,” wrote Dan Wiener, editor of The Independent Adviser for Vanguard Investors, in an email sent on Saturday.
“For a couple of days or so users have been complaining that the site won’t provide account statements or transaction confirmations. … Yes, Vanguard is bringing lots of good holiday cheer to its clients. I wonder if the C-suite found lumps of coal from shareholders in their stockings this year.”
Downdetector is currently tracking about 20 reports of website problems from Vanguard clients., as of 2 p.m. ET. on Tuesday.