Apportioning costs to those who generate them... Like people who call customer support too often.You are exactly right, Vanguard's rock bottom cost model SHOULD apportion costs to the client who generates the costs.Logically Vanguard should charge lower fees to those who use another brokerage. Why should I subsidize Vanguard's brokerage platform when I don't use it?
That is part sarcasm but it is a logical conclusion to the griping about how phone calls are keeping VTI's ER at a sky high 3bp.![:shock:]( "Shocked")
I suspect that this probably fits in the 80/20 rule, where 80% of the customer service center costs are being generated by 20% of the Vanguard clients.
Regards,
Or maybe it's the 20% of clients who experience issues that take multiple calls to resolve. I know I didn't call Vanguard until I experience serious issues that I didn't understand and they, quite frankly, said they didn't understand either and would call me back which they didn't. So I called again and kept calling until they could figure out where the shares in the transaction confirmations actually went because they weren't in my accounts.
And then there were more calls about taxation issues relating to that. Not my fault at all and not something I wanted to spend time doing.
I guess this is their way of saying if they screw up, they will fire you as a customer if you try too hard to get them to make things right.
YOU HAVE BEEN WARNED!
Statistics: Posted by typical.investor — Fri Jun 28, 2024 1:40 am — Replies 49 — Views 3938