What You Need to Know
- Year-end is a crucial time for investors to know the details of their accounts for purposes of RMDs, tax losses, etc.
- Some Vanguard investors are unable to access statements, trade confirmations and tax forms.
- Callers can stay on hold or get a call back, but some calls aren't being returned.
Problems with Vanguard’s website, which started as early as Dec. 23, according to the Bogleheads website, are continuing six days later — preventing Vanguard clients from accessing statements, trade confirmations and tax forms.
“I’m trying to access last year’s year-end statement for an account where I need the year-end balance to calculate this year’s RMD. Hope they fix it before 12/31!” wrote one unnamed client (using the alias “Ancho”) on Bogleheads.org’s forum for investors, which is named for Vanguard’s legendary founder, Jack Bogle.
Investors trying to call Vanguard to access their data aren’t having much luck either.
“Apparently it’s getting worse, not better at @Vanguard_Group with phones ringing off the hooks from irate shareholders,” tweeted Dan Wiener, editor of The Independent Adviser for Vanguard Investors, a newsletter. “No live person ever answered my call.”
“This may go down as Vanguard’s worst tech screw-up on record, though it seems as though each successive tech problem at Vanguard seems to meet that standard,” Wiener said on Wednesday in an interview with ThinkAdvisor.