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Vanguard customers can access their accounts, but have reported problems accessing certain statements. This story has been corrected.
Talk about an unwanted Christmas surprise.
Vanguard Group’s website has suffered a partial outage for six days now, according to reports, which has prevented customers from accessing certain statements.
The investment firm’s mentions on Twitter
TWTR,
were flooded with complaints from customers — including many who expressed frustration over their inability to speak with customer-service representatives by phone.
A forum for Vanguard devotees, called Bogleheads.org after the firm’s founder and former CEO Jack Bogle, featured multiple posts from customers concerned about the website outage. One user noted that they were unable to get confirmations of trades they had executed.
An unnamed Vanguard employee told the Philadelphia Inquirer that Vanguard’s customer service has been scrutinized recently, saying that “our technology has failed.”
Vanguard confirmed the outage to MarketWatch and said it was working to minimize the disruption.
“Vanguard has been made aware of a service interruption involving a third-party mailing and check processing vendor,” a spokesman said in a prepared statement. “Vanguard clients and retirement plan participants may experience delayed mailings or be unable to access certain statements, confirmations, or forms via our website.”
This isn’t the first time that the investment firm has experienced website outages and phone problems that have riled customers. Three outages having been reported since November 2020, according to financial outlet ThinkAdvisor. During a bout of market volatility in 2018, Vanguard customers complained that they couldn’t execute trades online or reach client representatives by phone. A similar fiasco occurred in February 2017, prompting the company to reimburse some affected clients.
