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Most are going down only 1 basis point. Not sure why it's generating this level of media coverage ... it's a non-issue for most people who wouldn't even notice.
Maybe they could keep the fees the same and have a functioning website and good customer service.
My thought too.
I’m thinking if this gets enough positive PR in the press it will encourage more retail investors to plow more money into VOO. Just what we need! Pedal to the metal!
Most are going down only 1 basis point. Not sure why it's generating this level of media coverage ... it's a non-issue for most people who wouldn't even notice.
Yup. The media needs something to rant about on an otherwise slow day I guess. VG’s move reminds me of the “Razzle Dazzle” act in Chicago. A marvelous performance. If anyone cares to watch I’ve linked it below. Half-dozen different lines could apply to VG’s situation.
View Here (Funky video. Seems to work best if you first tap on the screen expander button in the lower right of the frame.)
Most are going down only 1 basis point. Not sure why it's generating this level of media coverage ... it's a non-issue for most people who wouldn't even notice.
Headline: Vanguard drop it's fees 50%
- that's the kinda hype going from 1.5 basis point to 1 basis point creates... not much in your pocket, but it's a 50% savings!
never could envision a day when van primecap would be begging for flows AND dropping fees. it's not just their mag7 underweight (which i applaud as it speaks more to risk consistency), but refusal to see the superior tax trading structure of etfs for a very long time.
of course mass mkt would expect even lower fees w/etf, but its not really indexers they will attract.
FYI - I just happen to remember (notice) that Vanguard does not have an account level setting for "Cost Basis Method" for stocks / ETFs and one has to select the Cost Basis Method for each stock / ETF separately. Of course, one can change this before the settlement of a sale.
At my other brokerages, this feature is available as an account level setting and so I do not have to remember for each new purchase.
Edit: Feel free to go to the "A Solution" at the bottom of this post and skip the body of this post about the problems I had logging into my Vanguard account.
************* Does anyone here use the Vanguard two factor authentication to login?
I tried the Vanguard two factor service today for the first time. After not receiving the code by text for 10 times, I requested a phone call with the code. The call came in and said press 1 for the code. I pressed 1 and the phone got disconnected. After 3 attempts of trying this alternative, I thought may be it will work after regular market hours. Same problem after hours too. The code from other sites came to my phone instantaneously which means it is not AT&T screwing up.
I waited for another 30 minutes and tried again and I received the security code. So, I logged in and immediately disabled the two factor authentication. Then I logged out to make sure I can log back in without two factor authentication. The first screen that came up required me to signup for the two factor authentication service and did not allow me to bypass. So, begrudgingly I signed up again and provided my telephone number to send the code. The screen immediately changed to "Sorry, we are having technical difficulties, please contact customer service (hyperlinked) but no tel number provided. So, I clicked on the hyperlink and the screen looped back to signing up for the two factor authentication. I repeated the process with the same result.
With the CPFB gone, there is no incentive for Vanguard to get better.
Hopefully, you keep Vanguard telephone number in your notes. I got lucky I had it in my notes.
I called them and persisted on speaking with a human who tried for the last 15 minutes to disable the two factor authentication and has now put me on hold to get hold of someone else to do the job and then I got disconnected.
Talking to a second Rep who helped with a solution.
A Solution: download the Vanguard App and set up to login to your account through the App using face ID. After that when you try to login from your computer, in addition to receiving codes to your phone, you also have a choice to authenticate through your mobile Vanguard App which worked well. When you set up login through the mobile App the first time, you still need to receive a code to your phone that one time. Luckily, I did receive the code that time. I will not need to receive codes to my phone in the future.
I have used two factor authentication with Vanguard for a couple of years. It works great for me (set up two phone numbers to chose from to receive texts). Never had a problem..
I use 2 factor authenication. I just tested it to make sure it was still seamless. It was. It has two phone numbers for me. It lets me chose which I want the code to come to and whether by text or a phone call. I always choose my main mobile and text. I get the code almost immediately.
I have used 2FA with Vanguard for as long as I can remember, both receiving a call and a text. Ionically, it has been one of the few technologies that has worked all the time.
"More than 95% of "news" from the 24/7 media is useless and redundant."
More than 95% of posts from certain individuals are useless and redundant. Perhaps these inane posts could be readily disregarded if only they were not ubiquitous.
"The media needs something to rant about on an otherwise slow day I guess"
More than 95% of "news" from the 24/7 media is useless and redundant.
@FD1000, please explain how your post is relevant to this thread discussion so far. I have said to you before that you can have freedom of speech but you are not allowed to abuse knowingly or out of loss of sanity. Your post is abusive. If you mistakenly posted in the wrong thread, please move your post and I will delete this post.
2FA works well at Vanguard in all browsers (Safari, Chrome, and GoGo duck), OS (MacOS, iOS, and Windows). I prefer the full site rather than Vanguard’s app since the full features are in front of you instead being buried several layers within the App. If the text messages take over a minute to arrive (slow connection to your cell phone), you can go back and have them call your cell phone instead. This works for sure.
What seems like a hassle with 2FA, it actually add security to your account in case you loss the cell phone or having someone hacking into your account. Some sites have fingerprint recognition feature but I avoid them. Getting a real ID on your driver license requires a face recognition in the application process. Kinda creepy but the system try to match your facial features to the existing picture before approving your new license.
@FD: you have contributed nothing of value to this MFO board. Please go away!
I detailed in my first post all the problems I had with receiving codes through text and phone call on Thursday. It was a Vanguard specific issue not an At&T, my landline, or my newer model iPhone issue. That forced me to get their mobile App so I can access my account through my laptop without codes, which is the only way I operate my accounts.
I was not trying to rain on Vanguard as that is not useful to readers but simply trying to be helpful to others with Vanguard accounts. I no longer place orders there, unless I want to increase one of the existing holdings there. It is a pretty inactive account, except for the Div reinvestments, which is one of the reasons why I signed up for the two factor authentication. Vanguard’s health is not relevant to me.
Comments
I’m thinking if this gets enough positive PR in the press it will encourage more retail investors to plow more money into VOO. Just what we need! Pedal to the metal!
rather than lowering expense ratios a couple of bps.
View Here (Funky video. Seems to work best if you first tap on the screen expander button in the lower right of the frame.)
Vanguard drop it's fees 50%
- that's the kinda hype going from 1.5 basis point to 1 basis point creates... not much in your pocket, but it's a 50% savings!
never could envision a day when van primecap would be begging for flows AND dropping fees.
it's not just their mag7 underweight (which i applaud as it speaks more to risk consistency), but refusal to see the superior tax trading structure of etfs for a very long time.
of course mass mkt would expect even lower fees w/etf, but its not really indexers they will attract.
https://www.msn.com/en-us/money/economy/vanguard-makes-biggest-cuts-to-fund-fees-in-its-history/ar-AA1yktLq
At my other brokerages, this feature is available as an account level setting and so I do not have to remember for each new purchase.
*************
Does anyone here use the Vanguard two factor authentication to login?
I tried the Vanguard two factor service today for the first time. After not receiving the code by text for 10 times, I requested a phone call with the code. The call came in and said press 1 for the code. I pressed 1 and the phone got disconnected. After 3 attempts of trying this alternative, I thought may be it will work after regular market hours. Same problem after hours too. The code from other sites came to my phone instantaneously which means it is not AT&T screwing up.
I waited for another 30 minutes and tried again and I received the security code. So, I logged in and immediately disabled the two factor authentication. Then I logged out to make sure I can log back in without two factor authentication. The first screen that came up required me to signup for the two factor authentication service and did not allow me to bypass. So, begrudgingly I signed up again and provided my telephone number to send the code. The screen immediately changed to "Sorry, we are having technical difficulties, please contact customer service (hyperlinked) but no tel number provided. So, I clicked on the hyperlink and the screen looped back to signing up for the two factor authentication. I repeated the process with the same result.
With the CPFB gone, there is no incentive for Vanguard to get better.
Hopefully, you keep Vanguard telephone number in your notes. I got lucky I had it in my notes.
I called them and persisted on speaking with a human who tried for the last 15 minutes to disable the two factor authentication and has now put me on hold to get hold of someone else to do the job and then I got disconnected.
Talking to a second Rep who helped with a solution.
A Solution: download the Vanguard App and set up to login to your account through the App using face ID. After that when you try to login from your computer, in addition to receiving codes to your phone, you also have a choice to authenticate through your mobile Vanguard App which worked well. When you set up login through the mobile App the first time, you still need to receive a code to your phone that one time. Luckily, I did receive the code that time. I will not need to receive codes to my phone in the future.
It works great for me (set up two phone numbers to chose from to receive texts).
Never had a problem..
does vanguard have a basic authenticator (network-free) service?
am hesitant to use yubikey.
More than 95% of "news" from the 24/7 media is useless and redundant.
More than 95% of posts from certain individuals are useless and redundant.
Perhaps these inane posts could be readily disregarded if only they were not ubiquitous.
What seems like a hassle with 2FA, it actually add security to your account in case you loss the cell phone or having someone hacking into your account. Some sites have fingerprint recognition feature but I avoid them. Getting a real ID on your driver license requires a face recognition in the application process. Kinda creepy but the system try to match your facial features to the existing picture before approving your new license.
@FD: you have contributed nothing of value to this MFO board. Please go away!
I detailed in my first post all the problems I had with receiving codes through text and phone call on Thursday. It was a Vanguard specific issue not an At&T, my landline, or my newer model iPhone issue. That forced me to get their mobile App so I can access my account through my laptop without codes, which is the only way I operate my accounts.
I was not trying to rain on Vanguard as that is not useful to readers but simply trying to be helpful to others with Vanguard accounts. I no longer place orders there, unless I want to increase one of the existing holdings there. It is a pretty inactive account, except for the Div reinvestments, which is one of the reasons why I signed up for the two factor authentication. Vanguard’s health is not relevant to me.
A