Vanguard reviews

In part, Vanguard is a victim of its own growth and the strength of the market in recent years. Despite the company expansion, the firm insists on maintaining or lowering its expenses. As the workload increases, the company is having a very difficult time in recent years keeping up with the demand and running its operations efficiently. They are understaffed, the training of new employees is subpar, the lines of communication are awful, and for a firm of its size, the technology is terrible. Despite these flaws, the company maintains a constant atmosphere that nothing is ever wrong, that management hardly ever makes any mistakes, and that the business environment within the organization is only ever "improving" rather than recognizing there are serious gaps in the quality of its systems, processes, and service. This all contributes to very difficult and stressful working conditions for which nobody in the company wants to take any accountability for or take the necessary measures to improve for the betterment of its employees and clients.

Over the past couple years, Vanguard has become a completely different company. One of the main reasons people liked working there, and were okay with taking a salary on the low end of the industry average, was job security, but that’s gone away, with more and more departments getting the axe, with no thought to employee retention, all to allocate as many assets as possible to Personal Advisor Services. If you don’t work in PAS, you’re treated, and paid, like a second class citizen, and you’re only looked at as a body in a chair that can easily be replaced. Employee satisfaction and retention is completely ignored, all for the bottom dollar so more resources can be allocated to PAS, and they can cut expense ratios every year.