Transamerica/Vanguard transition

[scagnt83]

My banks (PNC & BOA) are requiring a current statement from TA. Neither Vanguard or TA's website provides access to past or current statements.

I'm unable to access past statements from either Vanguard or Transamerica,
....
Need access to past Vanguard statements in order to obtain a medallion signature guarantee!

Not a lot of sympathy on this one. Most responsible adults save the most recent statement at minimum for their retirement plan... (they might not know exactly where it is, but they have it somewhere).

And this is the very type of situation as to why saving the most recent statement is recommended. I could give you 20 other reasons why you should.

And you most certainly should have the original policy documents... such as the contract, delivery paperwork, etc. (which would work for the notary situation).

Even if you dont want paper copies of stuff, just take a pic with your phone and put it in the cloud. Its something you will never regret doing... but many regret not doing it....

 

[scagnt83]

And now I know... recently asked a forum question regarding Transamerica's customer services as related to product lines other than FE.

You guys have further confirmed my suspicions they were a company in the thros of some major business issues. Poor leadership is my guess... time for some constructive changes in that company.

Some carriers are the exact type of company that gives our industry a bad rep. Transamerica is one of those carriers. National Western is worse than Trans though... and its most certainly a leadership issue with them... I can personally attest the NWL execs dont give 2 sh*ts about their policyholders well being... 2 months minimum for them to send your life savings back to you when you need it...

Ive had issues with Trans in the past though getting money from them. They ALWAYS require a Signature Guarantee. And often want their own forms filled out and refuse to accept 3rd party paperwork for transfers... just like NWL...

 

[Life Hawk]

Working with Equitrust on some annuity items this week, moving a inherited annuity to a new home and they were most helpful.

I feel a true test of a company is how they handle themselves across their product offering. A well managed, well run company should have reasonable service across all of its product offerings and that service should be relatively mirrored on all their platforms, if not, it is usually how they run that business sector and is often the result of poor management of staff by leadership.

Agents should not be in a position where they are trying to figure out how or why a company is going to respond a client or agent need... not to mention when! The cost of doing business with some companies is way to high. 2020 has been a watershed year for uncovering companies who where unable or unwilling to shift business practices in a way that would have the least impact on customers and agents alike.

A sort of advertisement they weren't counting on.

 

[rats0001]

I see that the TA site has a link to statements and documents. Mine is empty too. Maybe after 12/31/2020 they will have a year end statement you can use?

 

[Life Hawk]

I see that the TA site has a link to statements and documents. Mine is empty too. Maybe after 12/31/2020 they will have a year end statement you can use?

I would suggest that you call them and wait on hold until Jan 2nd. If you save your place in line they just might get to you by then.

 

[scagnt83]

Agents should not be in a position where they are trying to figure out how or why a company is going to respond a client or agent need... not to mention when! The cost of doing business with some companies is way to high. .

Very true statement. Us agents can deflect and blame the carrier to an extent... but at the end of the day, we are the one who steered the client to that company. Piss poor customer service makes us look just as bad as the carrier imo.

 

[toolbelt]

Transamerica owns World Financial Group, while Vanguard owns a chunk of Primerica.

 

[Life Hawk]

Very true statement. Us agents can deflect and blame the carrier to an extent... but at the end of the day, we are the one who steered the client to that company. Piss poor customer service makes us look just as bad as the carrier imo.

Make us look much worse... we are the face of that company to most... they don't know anyone from that company, the only person to visit them has been yours truly.

This of course fits mostly in the uncontrollables category unless we bent on using that carrier when other options present themselves. And I for one will tell you that cheap can be very costly in the end if your not paying attention to your business. Paying more for a policy backed by a company whose customer service makes you look good is well worth the cost.

And that's not opinion, that's fact

 

[Allen Trent]

And that's not opinion, that's fact

I fact checked this on snopes & all my other go to reputable sources & it appears to indeed be a true & factual statement

 

[Life Hawk]

I fact checked this on snopes & all my other go to reputable sources & it appears to indeed be a true & factual statement

... just ask my wife if you want to fact check me... she's really good at it. Just ask her!