Vanguard’s Die-Hard Customers Have a Message for New CEO: ‘The Service Is Abysmal’

Vanguard won an army of loyal customers by cutting fees to the bone and promoting simple index-tracking investing. New Chief Executive Officer Salim Ramji will be the first outsider to take the helm of the beloved fund manager on Monday, and many clients are hoping he will finally fix a longstanding source of frustration: the customer service. Theodore Wagenaar, a 75-year-old retired college professor in Sarasota, Fla., suffered through years of such problems before deciding to move all of his accounts to Fidelity this year.