Transfers FROM Vanguard, what's the deal please?

boingy

I've been pretty happy with Vanguard. I think much of their non-phone support is done from the US or similar so you typically ask a question via secure message and the answer is there the next morning, or late that evening if you can be bothered to check.

Aminatidi

xylophone said:

Have you made enquiries yourself?

I did think about sending a secure message but I can't see anything useful coming back other than something woolly like "we aim to action all transfer requests as quickly as possible".

Can't see them saying "yeah I wouldn't bother because we're struggling and it'll probably take months".

granta

boingy said:

I've been pretty happy with Vanguard. I think much of their non-phone support is done from the US or similar so you typically ask a question via secure message and the answer is there the next morning, or late that evening if you can be bothered to check.

That might have been the case over a year ago but in recent times, it is taking at least 6-8 days to get a response, and the reply is usually inadequate and just elicits a further message from me.

xylophone

I did think about sending a secure message but I can't see anything useful coming back other than something woolly like "we aim to action all transfer requests as quickly as possible".

But surely after ten months it is time to take action?

Who is your new SIPP provider?

masonic

xylophone said:

I did think about sending a secure message but I can't see anything useful coming back other than something woolly like "we aim to action all transfer requests as quickly as possible".

But surely after ten months it is time to take action?

Who is your new SIPP provider?

You've received a reply from a different poster than the one who started a transfer last April. They should certainly be escalating their complaint to the FOS and not putting up with any nonsense about having to wait for the transfer to complete before the complaint can be dealt with.

Aminatidi

xylophone said:

I did think about sending a secure message but I can't see anything useful coming back other than something woolly like "we aim to action all transfer requests as quickly as possible".

But surely after ten months it is time to take action?

Who is your new SIPP provider?

Sorry I thought you meant me (as in ask Vanguard how long transfers are taking).

I'm not the person with the SIPP transfer.

If I was I'd be on their back almost daily by now as that's appalling.

granta

masonic said:

xylophone said:

I did think about sending a secure message but I can't see anything useful coming back other than something woolly like "we aim to action all transfer requests as quickly as possible".

But surely after ten months it is time to take action?

Who is your new SIPP provider?

You've received a reply from a different poster than the one who started a transfer last April. They should certainly be escalating their complaint to the FOS and not putting up with any nonsense about having to wait for the transfer to complete before the complaint can be dealt with.

What action could I realistically take?
I posted on another thread (SIPP transfer delays - complaint query — MoneySavingExpert Forum) about whether I should escalate to FOS but wasn't sure if that would make the transfer happen any quicker. The new provider has now escalated a complaint to the custodian.

boingy

granta said:

boingy said:

I've been pretty happy with Vanguard. I think much of their non-phone support is done from the US or similar so you typically ask a question via secure message and the answer is there the next morning, or late that evening if you can be bothered to check.

That might have been the case over a year ago but in recent times, it is taking at least 6-8 days to get a response, and the reply is usually inadequate and just elicits a further message from me.

I messaged them last Monday and had a reply on Tuesday and the reply was complete. They have never take more than 2 days to respond to anything I've asked them. I get that you are peeved with them for screwing up your transfer but that is definitely not the norm,.

masonic

granta said:

masonic said:

xylophone said:

I did think about sending a secure message but I can't see anything useful coming back other than something woolly like "we aim to action all transfer requests as quickly as possible".

But surely after ten months it is time to take action?

Who is your new SIPP provider?

You've received a reply from a different poster than the one who started a transfer last April. They should certainly be escalating their complaint to the FOS and not putting up with any nonsense about having to wait for the transfer to complete before the complaint can be dealt with.

What action could I realistically take?
I posted on another thread (SIPP transfer delays - complaint query — MoneySavingExpert Forum) about whether I should escalate to FOS but wasn't sure if that would make the transfer happen any quicker. The new provider has now escalated a complaint to the custodian.

Thanks for the link to the other thread. The FOS may be able to bring additional pressure to bear on the providers to sort it out. I'm quite shocked that after all this time, nobody has suggested aborting this transfer and instead transferring in cash with the firm to compensate for any costs and loss due to time out of the market. The FOS might be able to get something like that agreed. There are published decisions where customers have taken matters into their own hands and the FOS has later got involved and awarded them compensation on this basis, but I wouldn't recommend that, rather discuss and agree it in advance.

Unless I'm missing something, both ceding SIPP provider and custodian are part of the same group. FOS also has discretion to report areas of concern to the FCA (whereas you as a consumer cannot). Issues like this are a barrier to customers changing product, and removal of such barriers is a key consumer outcome the FCA expects firms to achieve.

granta

boingy said:

granta said:

boingy said:

I've been pretty happy with Vanguard. I think much of their non-phone support is done from the US or similar so you typically ask a question via secure message and the answer is there the next morning, or late that evening if you can be bothered to check.

That might have been the case over a year ago but in recent times, it is taking at least 6-8 days to get a response, and the reply is usually inadequate and just elicits a further message from me.

I messaged them last Monday and had a reply on Tuesday and the reply was complete. They have never take more than 2 days to respond to anything I've asked them. I get that you are peeved with them for screwing up your transfer but that is definitely not the norm,.

It's possible though that my messages are taking longer to reply to because they have nothing much to update on! As I said, the messages prior to this transfer issue were not taking as long