I can not get anyone from Victory Capital to answer the phone. How are they related to USAA? Are they a reliable company?

4 REPLIES

@Cowboy Bill, thank you for reaching out. I will share your inquiry with the appropriate USAA team for review. ~DC

I am also a member with a Mutual Fund Account with Victory Capital.  It's the Coviv-19 that has everyone there working from home. I had a long long wait for help, it is difficult, but  I finally got help and got on-line and so far, so good! Stick with it! Rick J Walsh

Agree the transition has not been a pleasant one.  I was on hold for over two hours when the system finally hung up on me.  I was concerned that the account used to automatically fund the 529 accounts would continue to work through the transition and into the future.  Funds were deducted, so I assumed the automatic deduction would continue.  Thinking better of it, I called again and got through in less than 1/2 hour.  I was told I would have to add the bank account information, as Victory Capital did not have it.  When I mentioned the deductions did happen, and how could they unless Victory Capital had the info?  I was told it happened during the transition, so they could not guarantee what would happen next month.  It was two different deductions three days apart, but fine.  I would enter the new account information into the Victory Capital system.  When I entered the bank routing number, account type, and account number - the information the form requested - I received an error message that it was insufficient and they could not verify.  I gave them all the information they requested and it was not enough!  How bad is that???  

VCM's website and customer service is terrible. Some functions of the website don't work at all, such as trying to edit mutual fund contributions. And getting them to actually answer the phone is just an exercise in patience, unfortunately I don't have two hours to wait for them. This is unacceptable performance from a company that handles people's money. One of the bigger questions is why is USAA divesting all of it's investment functions?