Vanguard: New Minimum Monthly Account charge

Aylesbury_Duck

I've had the same email.  It will save me a couple of quid in February.

granta

Knowing how long transfers out from Vanguard have taken in the past, the next few months could save me a few pounds as I will be requesting a full transfer out before end of Feb.

jbrassy

I started a SIPP transfer to Invest Engine just before Christmas and I'm still waiting for it to happen. This is despite Vanguard messaging me and saying they will action it "immediately".

dgpur

granta said:

Knowing how long transfers out from Vanguard have taken in the past, the next few months could save me a few pounds as I will be requesting a full transfer out before end of Feb.

Just a couple of weeks ago I requested the transfer of >£10,000 and closure of my account. It was all concluded in the space of few days. So be hopeful!

jimjames

I put in a request to transfer ISA away from Vanguard about 10 days ago. Noticed today that my "available ISA allowance" balance in iWeb has updated to the value from Vanguard. Funds not moved yet but if balance updated I suspect it should mean it'll be soon. No news on SIPP yet though.

granta

dgpur said:

granta said:

Knowing how long transfers out from Vanguard have taken in the past, the next few months could save me a few pounds as I will be requesting a full transfer out before end of Feb.

Just a couple of weeks ago I requested the transfer of >£10,000 and closure of my account. It was all concluded in the space of few days. So be hopeful!

Was this an ISA or SIPP? My previous experience of a SIPP transfer out was that it took around 1 year (obviously an outlier as others have been quicker) but an ISA transfer out was about 8 weeks. It seems to be slower this time round and perhaps the backlog has led to them introducing this new policy around the fee and transfers out.

TheLastMongoose

I'm guessing a lot of us have left Vanguard now. For those that have changed platform, have you stuck with Vanguard funds or made changes? As Vanguard have annoyed me with this move, I feel I might stop giving them preferential treatment when it comes to fund / ETF choice.

Alexland

TheLastMongoose said:

I'm guessing a lot of us have left Vanguard now. For those that have changed platform, have you stuck with Vanguard funds or made changes? As Vanguard have annoyed me with this move, I feel I might stop giving them preferential treatment when it comes to fund / ETF choice.

Regardless of if they have annoyed you there is no reason to give them preferential treatment. If you are now on a platform that gives you broader choice you should pick the most suitable investments for you objectives from a range of reputable fund managers. Mix and match to get the best fit.

Rheumatoid

Moving my wife's small ISA out of VG into Coventry BS as cash. Coventry are asking for sort/account number or roll number. I can see no account numbers for the VG ISA. Do I just use the account number beginning VG as the roll number?

boingy

TheLastMongoose said:

I'm guessing a lot of us have left Vanguard now. 

I think that's mostly not true. A few vocal folks will have left, a few others will have said that they are leaving but not done so The vast majority of folks are unaffected by the change because they are already paying more than that minimum fee. Vanguard will have set that threshold very carefully. And for those folks moving to the "new" providers like T212 or InvestEngine, what do you think they are going to do once they have plenty of customers? Yep, They'll start charging more because they need to stay in business.