Vanguard annual account service fees
Eligibility is first calculated using qualifying assets for an individual client. We then combine the qualifying assets of clients sharing a residential address to determine final eligibility*.
Assets that qualify
- Any assets under management of Vanguard Personal Advisor Services.
- Vanguard mutual funds and Vanguard ETFs held by a client in certain personal accounts qualify. Personal account types include: individual non-retirement, education savings accounts, IRAs, Joint, Trust, Custodian, Guardian, UTMA, UGMA, Estate, Sole Proprietorship, and Single-Participant SEP IRA plans.
Note: Vanguard assets in a Vanguard 529 Plan, Vanguard Variable Annuity, Multi-participant SEP IRA plans, SIMPLE, i401k, 403(b), family partnership, family corporation, or employer-sponsored retirement plans for which Vanguard provides recordkeeping services may be included in determining eligibility if you also have a personal account holding Vanguard mutual funds or Vanguard ETFs. Assets held in other account types are not eligible to be included in service eligibility determination.
We review qualifications periodically
The qualification criteria (for example, asset levels) are reviewed periodically and could change at any time. Vanguard reserves the right to discontinue enrollment in any of these services or reassign any investor, without prior notification, to the appropriate service level if the investor fails to continue to meet the applicable qualification criteria. Vanguard reserves the right to amend or cancel selected features and benefits at any time without prior notification.
In addition, ongoing access by any particular investor to individual services, discounts, and exemptions is subject to periodic review and may be restricted based upon criteria established solely by Vanguard. While these services are complimentary, some underlying services may charge fees and expenses. Vanguard does not guarantee any level of service.
*Business addresses and other non-residential addresses are not eligible to be aggregated for purposes of determining services.
Vanguard Annuities Review
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The Vanguard Group is a privately-owned investment advisor. The company was founded in 1975 and is based in Malvern, Pennsylvania. The Vanguard Group is the second largest provider of ETFs in the world and the largest provider of mutual funds. In addition to ETFs and mutual funds, the company offers other investment products, as well as financial planning services.
Vanguard Annuity Features
Vanguard Fees and Commissions
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Keep your annuity costs in check
Variable annuities are long-term investment vehicles designed for retirement purposes and contain underlying investment portfolios that are subject to market fluctuation and investment risk, including the possible loss of the money you invest. If you take withdrawals from a variable annuity prior to age 59½, you may have to pay ordinary income tax plus a 10% federal penalty tax.
An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in such a fund.
Investments in bond funds are subject to interest rate, credit, and inflation risk.
For more information about the Vanguard Variable Annuity, visit vanguard.com or call 800-276-7238 to obtain fund and variable annuity contract prospectuses. Investment objectives, risks, charges, expenses and other important information about the products are contained in the prospectus; read and consider it carefully before investing.
Before making the decision to switch to another annuity, including the Vanguard Variable Annuity, you should consider all costs—such as annual maintenance fees, surrender charges, fees for optional riders and death benefits—and the financial strength of the insurance carrier.
The Vanguard Variable Annuity is a flexible-premium variable annuity issued by Transamerica Premier Life Insurance Company, Cedar Rapids, Iowa (NAIC No. 66281), and in New York State only, by Transamerica Financial Life Insurance Company, Harrison, New York (NAIC No. 70688). Form No. VVAP U 1101 (in Florida, Form No. VVAP U 1101 (FL), and in New York, VVA NY 0208(R13)), without agent representation. Policy and rider form numbers may vary by state and may not be available in all states. The Vanguard Group administers the Vanguard Variable Annuity for the issuer. Its variable annuity and investment costs rank among the lowest in the industry, according to Morningstar, Inc., December 2014. The Vanguard Group, Transamerica Premier Life Insurance Company, and Transamerica Financial Life Insurance Company do not provide tax advice. Investors are encouraged to consult a tax advisor for information on how annuity taxation applies to their individual situations.
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© 2015 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor.
This content was provided by Vanguard Annuity and Insurance Services. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.
More information about the Vanguard Variable Annuity changes
How do I access my account and perform transactions or maintenance?
You can reach Transamerica at 800-462-2391, Monday – Thursday 9 a.m. – 6 p.m. and Friday from 9 a.m. – 5:30 p.m. Eastern time, or by email at [email protected] You can also access your annuity policy at secure.transamerica.com to review balances, place trades and generally manage your account.
Where can I find information about Vanguard Variable Annuity Portfolios?
Vanguard Variable Annuity portfolio pricing and performance is available at secure.transamerica.com. You can also get more information on the annuity portfolios by contacting Transamerica directly at 800-462-2391, Monday – Thursday from 9 a.m. – 6 p.m. and Friday 9 a.m. – 5:30 p.m., Eastern time.
How will this change affect my existing Vanguard Variable Annuity?
Transamerica is handling all client service, communications, statements, confirmations, and account access for your annuity.
All existing third-party access, recurring withdrawals, purchases, and periodic portfolio rebalancing previously established for your annuity through Vanguard stayed the same when the account transitioned to Transamerica.
Will the terms of my Vanguard Variable Annuity change?
As the owner of a Vanguard Variable Annuity, you have a contract with Transamerica, which won't change because of this transition. All rights and provisions of your contract will remain in place.
Will this change affect the Vanguard Variable Insurance Funds (VVIFs)?
The Vanguard Group, Inc. will continue to serve as the investment advisor of the Vanguard Variable Insurance Funds, and Transamerica has committed to continuing to offer these underlying investments in the Vanguard Variable Annuity.
Who will send confirmations, statements, and tax forms?
Transamerica will generate and send all transaction confirmations, account statements, including your 2020 year-end report, and tax forms.
How do I contact Transamerica?
You can reach Transamerica at 800-462-2391, Monday – Thursday from 9 a.m. – 6 p.m. and Friday from 9 a.m. – 5:30 p.m. Eastern time, or via email at [email protected] Policy information is also available at secure.transamerica.com.
Annuity fees vanguard
Vanguard Annuity: What You Need to Know
The Vanguard Group is well-known for providing low-cost investment options to investors. For those considering annuities, costs are an important factor, because many annuities have draconian fees that reduce their effectiveness as viable options for their purchasers. The Vanguard annuity program offers a selection of retirement annuity products tailored to your needs, including both fixed and variable annuities that feature low costs, competitive rates, and unbiased assistance from licensed specialists who are paid fixed compensation rather than working on commission. Below, we'll look more closely at Vanguard annuities.
What types of annuities does Vanguard offer?
At Vanguard, you'll find a full range of annuities. Income annuities are designed to maximize the amount of income you receive from your investment while also providing protection from longevity risk. With income annuities, you can choose payments that are guaranteed to last as long as you live, even if you live well beyond your projected life expectancy. You can also choose among single-premium immediate annuities, deferred income annuities, or so-called longevity insurance annuities that don't start paying out until well into your retirement years. Meanwhile, deferred variable annuities with a lifetime withdrawal benefit can give you steady income payments but also give you potential for growth that is nevertheless protected from the volatility of the stock market and of riskier investments.
Image source: Vanguard.
Deferred variable annuities are also useful for long-term savers who don't have current income needs but are trying to grow their assets over time. Vanguard offers 17 different variable annuities that are tied to various asset classes and allocations, ranging from stock annuities in both U.S. and international stocks and featuring different sizes of companies, to balanced portfolios and annuities that track various bond markets. At the same time, if you want the predictability of guaranteed fixed-rate returns but don't need income currently, fixed deferred annuities let you choose the time period over which you want to lock up your money and then pays you a fixed return based on the term you choose.
Who's behind Vanguard annuities?
Vanguard isn't an insurance company, but it works with insurance company partners to provide annuities to its customers. For its Vanguard Variable Annuity products, Vanguard works with Transamerica Premier Life Insurance Company and its related subsidiaries to provide the coverage under the variable annuity contracts offered to Vanguard customers.
For income annuities, Vanguard has a slightly different process. There, the Vanguard Annuity Access service under the financial services provider's Income Solutions platform allows customers to compare fixed income annuities from a wide range of different insurance companies. Investors can get quotes quickly, and they can then choose the coverage that best meets their needs. Vanguard works in collaboration with Hueler Investment Services to offer the Income Solutions platform.
What are the costs for Vanguard annuities?
What you'll pay for Vanguard annuities depends on the type of annuity you purchase. The Income Solutions platform for fixed annuities charges a one-time transaction fee equal to 2% of the purchase amount.
For the Vanguard Variable Annuity program, the average expense ratio is 0.54%, which is far less than the industry average of 2.24%, and actual fees for specific annuity choices range from 0.44% to 0.73%. However, riders can add to that expense amount. For instance, the Secure Income rider to provide guaranteed lifetime withdrawal benefits imposes an additional 1.2% annual fee. One of the best features is that the Vanguard Variable Annuity charges no sales loads or surrender charges, eliminating potential costs that many other annuity providers impose on their customers.
Vanguard annuities have some advantages over annuities offered by rivals, but they still aren't necessarily appropriate for everyone. Some people simply won't benefit from annuities in their financial plan at all. But for those for whom annuities can be helpful, Vanguard's annuity platform is worth a closer look.
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