Misinformed by Vanguard

[m3racer]

I was erroneously told by a Vanguard phone rep that I could open an IRA account and fund a mutual fund the same day electronically. Well, I tried doing that today thinking I would be able to purchase NAVs at today's closing cost. Instead, it says online that there would be a 10 business day hold on the bank transfer. I can't believe the rep lead me to believe that I would be able to purchase NAVs in a mutual fund for that closing session. Now I have to wait 10 days and get the closing cost for that day.

[glock35ipsc]

So where's the problem? At the rate the market is falling daily, you will probably be buying the fund cheaper next week then you could have that day anyhow.

[ActYourWage]

Actually Vanguard plainly states that before purchasing.

[m3racer]

Actually Vanguard plainly states that before purchasing.

Yes it does once you start the application and get to the screen for funding the account. However I was told something quite different over the phone. You'd think the reps would have better knowledge about the process.