Absolutely none needed. More is better. Thank you for all of this.Apologies for the long posts.
An observation. On multiple past occasions Vanguard has said something is available, is okay, will continue. And it does ... until it suddenly doesn't.In short, on the call today and in writing, Vanguard insisted that we can continue to maintain the accounts for sales, redemptions and transfers past 2025, but customer facing staff do not know whether the "legacy" online system will be available for us or not. So it is indeed a big worry.
Vanguard is fickle, its policies are fluid, it behaves for its own convenience rather than for that of its clients, and its customer communication is regularly disastrous. What is possible today now commonly becomes impossible tomorrow, routinely with little or no warning.
Given this, it seems like a huge act of faith to lend any credence to anything Vanguard says now about how things will operate after 2025. Clearly they do not yet know. Four times they say "will be communicated". Will this be in the same way as they communicated peremptory termination of W-8BEN form handling for UK and India, first announced in February 2024 but effective from a month earlier?
It certainly seems so. Vanguard makes "policy" changes that could have huge life-changing consequences, and then combines this with total indifference to the valid concerns of some long-standing and (previously) loyal customers. This is really not a good look for Vanguard.It is very concerning that Vanguard has not dealt with the problem, what they will do with NRA accounts after retiring the legacy platform. They are working on this for years if not a decade. In my opinion that indicates how Vanguard is viewing the individual retail customers generally. That should be a potential concern to all Vanguard retail clients.
Statistics: Posted by TedSwippet — Tue Nov 05, 2024 3:49 am — Replies 100 — Views 8678