Vanguard Group - Vanguard 401K Rollover to Fidelity IRA
May 10, 2018 I submitted a request to rollover my former company sponsored plan to my IRA. The other plans I consolidated completed the process within one business week.
Vanguard as I write this is now over 1 month for a simple rollover request.
The first and second wire transfer attempt failed and without calling me the simply sent a paper check to my house. I took that check to Fidelity and it had the wrong bank account information as they had used the Fidelity clearing account in New York from the previous Wire Transfer attempt. We are now at about 10 or 12 days and Fidelity called Vanguard an provided all information to reissue the check (attempt #4) and we followed up with a Fax containing all information to send my check directly to Fidelity. It is now 1 month and one day and every call has been to ask when the reissued check will be sent.
Still nothing and I will call back later today but even if it is issued today they say it will take 7-10 business days.
This means that that it will have taken from May 10 to June 22 to do a simple rollover.
Way to go Vanguard! Not to mention I have lost over one month of investment income.
Reason of review: Poor customer service.
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Comments
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I am having the same problem now. It seems the check got lost in the mail.
Issuing another now. It is interesting that I received two letters from them within 3 days while waiting 7 to 10 days for the check which is now supposedly lost!