USAA
COMMUNITY

Retired Fed

Ever since the updates in July and August, the lag time to update investment data has been awful. It is now 7 PM on the West Coast, and my accounts are still showing yesterday's closing positions. While having real time updates would be fantastic, at least seeing TODAY's closing values some six gouge after the market close would be nice. I believe the old system was more up to date.

Jim Mac

Apparently they are having major issues with investments - I cannot even get customer service to respond after 3 business days from the people that handle their margin accounts. However, I do give one of their reps kudos for at least emailing me to tell me of the delay. I think they overcharged me on my margin from a balance before the conversion, but I don't think they have a clue in how to actually determine if they did/did not. I lost all faith in them in this area in early August as I had covered calls take my shares on Aug 6th...in the margin account...and they notified me on the 8th (Sunday night) that due to the conversion it would be the 12th before I could touch the money or even see an update in my account - for 4 days I was "missing" almost $20K. On the 12th I moved the money to Fidelity (since USAA is now using the NSF routing anyway), reset up my account, and have found their trading platform to be AMAZINGLY better - cheaper commissions with options trading strategies and much easier to manage. In addition, I had issues with USAA picking and choosing when to enforce good faith violations and leaving it up to the investor to "figure out" when money cleared - Guess what Fidelity does? Spells this out in an easy to read format and has online customer service chat windows if you have questions! I would advise moving away from their investment accounts - too many other great options.

fortbragg

Jim Mac,

Were you able to transfer entire portfolio to Fidelty? In particular, due to dividend reinvestment all my stocks have fractional shares and wondering if only whole numbers can be transferred and fractional shares causing a ''sell''.

Jim Mac

Not sure on the stock - I was at all cash in that account. I still have another account, but it passive and has seen no trading activity since 2010. I do believe you can contact another firm for transfers, but will pay per holding, not per account.

TaraCrooksUSAA

Retired Fed,

We appreciate your question here in the Community. We would like to put you in touch with an investment specialist who can take a closer look at this situation and offer you assistance. If you would, please message us here: http://bit.ly/U7b7Jj. We hope to hear from you soon. Thank you for your time! – Tara

retiredtx

I agree with you about the delay in updating the accounts, it is extremely frustrating. I sent a message to USAA about it. Their response was the "new" trading platform updates later than the "old" platform, and there is nothing they can do about it. I wish they would go back to the old platform. This is unacceptable to me. I have no hope that they will get if fixed, so I'm looking to move my accounts elsewhere. You figure we are not the only ones experiencing this problem. Maybe if enough people complained they would get off their duffs and do something.

Pesimist

I'm not sure if my investment values are updating or not. Checked last night at 9PM EDT, date for the balance - gain/loss column still showed 13 Sept for a majority of my investments, a few showed 9:40 AM 13 Sept.

Didn't Investment values update a few times throughout a trading day before conversion to NFS? Am I wrong?

Briana Hartzell USAA

Hi Pesimist,

Thanks for posting. We would like to put you in touch with an investment specialist who can take a closer look at your account in order to offer you assistance. If you would, please message us here: http://bit.ly/U7b7Jj. We hope to hear from you soon!

Pesimist

Thanks but, emailed my account manager. I continue to be unimpressed since the NFS conversion, especially considering the ongoing delays in getting Quicken downloads working.

retiredtx

It seems like the Community Managers never answer the question posed. They just say message us and we want to put you in touch with an investment specialist who will look into your situation. I'm sure the situation is the same for all of us. We all want the "new" trading platform to update our accounts in a timely manner. The "old" trading platform did that. If the old platform could do it why can't the new platform do it. If the new platform cannot do it why did USAA feed us a line of bull saying we would all see these "improvements" when the new trading platform came on line. I sure haven't seen any so far. I've been a USAA member since 1977 and I am tremendously disappointed in the way USAA touted this "new" trading platform when it is clearly not as good as the "old" platform in so far as timely account updates are concerned. Is it that you can't fix the problem or just won't fix the problem? If you just won't fix it, that certainly reflects on your customer service which has been trending down in recent years. If you can't fix it, that would reflect on your ability to offer top notch brokerage services, which you claim to do. I know there are other brokerage services out there that provide their clients with timely account updates. It is just baffling that USAA either can not or will not address this issue.