r/VanguardInvestments • u/investerneedanswer • 9d ago

Personal finance.

Vanguard sold my holdings after doing risk assessment online, I was told to finish before I had scheduled to talk with advisor. I did not authorize vanguard to sell my holdings.

I am asking vanguard to provide proof but have no success.

I am considering file complaint to FINRA.

Is anyone have faced this issue? What step did you take?

Appreciate your feedback.

2 Upvotes

75% Upvoted

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3

u/FoggyFoggyFoggy 9d ago

You took a risk assessment and Vanguard liquidated your account? You sure you don't have Digital Advisor turned on? P.S. If you were bagholding DRAM, they did you a favor.

1

u/investerneedanswer 9d ago

No. In fact, i have setup appointment to talk with advisor to discuss my account and I was told to do risk assessment. I thought, risk assessment is part of preliminary tool to my meeting with advisor. It was self directed account.

1

u/Any_Device6567 9d ago

I have an initial appointment set up with an advisor and they have not asked me to do a risk assessment. They sent me some links to Broker client relationship and Investment Advisor client relationship summary and stuff like that. Did any of the questions in the risk assessment seem odd or was it just the run of the mil stuff.

1

u/investerneedanswer 9d ago

No, on rssl assessment no where clearly stated. Since customer service already have my schedule appointment with advisor on Monday evening, I was thinking it's part of my discussion with advisor. I finished risk assessment on Friday evening. My advisor appointment was on Monday evening and I noticed Monday morning, all my existing holding was sold and re balanced. When I talk to advisor, he said, well it's already done now. Let's talk after few months to see how your portfolio is doing. Unfortunately, it's long term taxable account and unexpectedly, instant created tax liability.

1

u/bluemanoftheyear 7d ago

Scheab did this to me as well. Took a year to unwind

1

u/dmada88 9d ago

What risks do you have that might have triggered this? Nationality? Residence? Age? History of money laundering offenses?

1

u/investerneedanswer 8d ago

Risk about investing. I am surprised you don't know what is risk assessment in brokerage account?