February 4, 2023

Vanguard website outage underlines dangers of online investing:

The Vanguard Group Inc. website was not operating as per the norm nearly an entire week last week, potentially hindering  thousands of customers from accessing year-end investment reports online. This displayed the need for companies to invest in robust customer service teams capable of dealing with high demand when technology fails.

Customers of the $8 trillion mutual fund weren’t able to download documents of key statements, confirmations and tax forms needed for end-of-year accounting. Delaying the efficiency of the businesses, increasing the workload for an already tightly packed period.

A tweet from Rob Kaufmann, an investor beautifully summarised this:

“Why would anyone trust their money on this infrastructure?”

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What is your opinion?

Vanguard website outage underlines dangers of online investing (investmentnews.com)

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