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Vanguard Suffers Website Outage, Affecting Client Accounts

website outage vanguard
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EDITOR'S NOTE: On Christmas eve, Vanguard clients shockingly found a partial website outage that “prevented customers from accessing certain statements,” per Market Watch. The problem lasted through Dec. 29, and, while mostly fixed as of Dec. 30, the issues for Vanguard and its customers won’t go away. The issue highlighted Vanguard’s customer service problems and, while this was just a major nuisance for most, other clients took to Twitter to complain about being unable to close on a house because of the tech problem. “An unnamed Vanguard employee told the Philadelphia Inquirer that Vanguard’s customer service has been scrutinized recently, saying that ‘our technology has failed.’” This incident is enough to scare not just Vanguard’s clients but anyone who completely relies on the internet to access their finances. 

Vanguard customers have experienced website outages since Christmas Eve, according to reports.

Correction: Vanguard customers can access their accounts and execute transactions, 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, 4.23% were flooded with complaints from customers — including many who expressed frustration over their inability to speak with customer-service representatives by phone.

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.

Originally posted on Market Watch.

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