2024 ASF
If a client transitions after the deadline, will there be a reimbursement?
No
What can a client do if their account is automatically transitioned, but they have taken no action?
They can sell or transfer funds outside of Vanguard, they can transfer funds to a VBA account
A client has a full agent on their individual account and a joint account on the TA platform. What year can they expect their account to be transitioned?
2025 (Cohort D)
Do clients need to enroll into the Class Action Offering? What did Vanguard offer for Class Actions prior to this new communication?
No! They are automatically enrolled.
Currently clients are responsible for filing their own claims.
If a non web registered client's account is automatically upgraded and they refuse to go online, how do you help them fully transition their account?
You would first try to get them online. Worst case scenario: paper VBA application form
When will the ASF be charged this year?
Early August
When will the 1st cohort be automatically transitioned?
Late August 2024
A client has an individual TA account with check writing established. Which cohort are they in?
Cohort C
When does the tax filing fee of $500 for MLPs go into effect?
6/1/24
Can a client request for a delay in their automatic transition?
Nope!
What is the deadline to upgrade/enroll in e-delivery to avoid the fee?
July 19th
When will the initial communication go out to clients letting them know Vanguard's intentions to retire the TA platform and let them know their options to act?
Early June - Mid July 2024
A client has a TA account with an AIP (bank authorization agreement is updated). Their account is a part of the auto-VBA upgrade. Do they need to re-establish the AIP?
What about if the client upgrades their account on their own (positive consent carryover)?
Yes, they will need to re-establish
Positive consent carry over: the AIP will carry over!
What percentage of Vanguard ETF and MF trades within a VBA account are currently placed online already?
98%
A client claims that they were never notified about the automatic transition, where can you check to see what communications went out?
CRM browser (and silly client you were notified 2 separate times!)
Will clients be notified of the ASF this year?
No, no fee reminder will be sent out this year
How many clients do we expect to be impacted by the Auto VBA transition initiative?
920k
Will a 529 account be a part of the auto-VBA transition this year?
No - currently an ineligible account type
A client states that they are legally blind. Can you waive the commission? If you can, do you need to get TL approval for this?
Yes we can waive the fee.
Since this is 1 of the 6 defined scenarios, I do not need to get TL approval.
What percent of our clients are on the VBA platform?
More than 85%