Couldn’t agree more with the majority of your post!!! Don’t know how money transferred from Schwab and VC [a little karma in that acronym that shouldn’t be lost on old guys]. Know nothing about Schwab as all my six accounts went to VC. But your comments about VC are SPOT ON! I hate dealing with the VC website in every aspect. The sale caused yet another episode of wanting to leave USAA. It might have made corporate sense to drop out of that market sector; we should have been given a detailed heads-up and be allowed to opt out, if desired. Could have transferred our money elsewhere, especially for those who knew Schwab and VC. Setting up login at VC was a tad challenging, but I’ve actually seen worse, to my dismay. But navigating the VC website, and finding info, is an infuriating challenge. Then, of course, USAA informing us we’d be able to see our account on the USAA page [which hasn’t worked after many attempts] is a pain. Every call to USAA about that, alone, resulted in an apology and promise USAA was working to fix the disconnects. As for windfalls, your point may/may not be applicable: hadn’t considered that, since as I understand USAA’s structure, any moneys generated from any source should go into the mixed pot of USAA assets. Every member “should” benefit indirectly from whatever Schwab and VC paid to buy us. If not, there should be an audit and method to track where the money went. I’m not suggesting the CEO or BOD did anything nefarious [like many here would scream], but only that we need to know the effect the sales had. The services provided have been disappearing for years; many deserved to be dropped. And of those still in effect, at least some are administered poorly. I’ve always thought USAA got too big to run effectively because of sheer size and complexity. But that sale of our records and accounts to Schwab an VC really ticked me off. No telling how much of our private info went to other than those two companies. Some worry if a glass is full or empty; I worry if someone p##d in the glass. No way do I trust big businesses, but we can’t control what they’ll do.
