Victory Capital Transition Issue while Overseas

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Occasional Contributor

I am active duty Army posted in Europe. I am disappointed that USAA has moved our investments to Schwab and Victory Capital since we are generally happy with USAA customer service (for the last 20+ years). That said I understand the financial reasons for using larger investments firms to handle the relatively small USAA investment population. The change is certainly less convenient since we were happy with insurance, banking, investments, etc. all with USAA. I must say that this change will make us reconsider our previous automatic practice of using / selecting USAA over other firms for all maters in the future.

 

The transition to Schwab was fine and we can see our accounts. However, when attempting to sign into Victory Capital we are required to have a CONUS (US) number to setup the account. We only have Italian mobile numbers so we simply cannot setup our accounts. I’ve been on hold for over an hour this evening in an attempt to complete my registration with Victory Capital. I dare not leave my Italian mobile number and use their offer to call me back. This is quite simply unacceptable customer service. I currently do not know the status of our funds that have been migrated to Victory Capital. Therefore, this is a USAA problem to fix.

 

I am not easily excited and I am not prone to writing complaints unless I feel that a company I trust has failed. I ask USAA to fix this problem and get Victory Capital to contact me. I refuse to waste my time and I ask USAA to solve this problem as soon as possible.


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As of an hour ago the web registration and website access issues for our investments, that are now with Victory Capital, was corrected. The direct POC at VC shared with me after I explained my concerns on the VC facebook page solved our MPS address issues so we could both finish online registration. We are grateful for the quick action and we currently intend to keep our accounts with VC. That said, after this transition period is over for VC if I have any repeat issues in contacting a VC representative I intend to pull all our accounts from VC.

 

Additionally, after describing my concerns on the USAA communities website I was also called by a member of the USAA CEO’s office. The gentlemen apologized, provided additional context for the issues that VC is experiencing, and offered to assist if my issue was not quickly solved. Thank you for calling. 

 

In sum, VC quickly solved our problem and I ask the company to maintain the high-quality level of support that we have received from USAA for the last 20 years. The bar is high and I ask that you dedicate the appropriate resources to maintain our business.

 

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6 REPLIES

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@Tony6, Thank you for your trust and loyalty for 20 years! We appreciate you and are saddened to hear of this recent issue. We do have an area I am going to forward your post to. Thank you again and enjoy Italy!  ~Tom

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Good Evening,

 

I tried again this evening and the VC webpage now accepts international numbers. I now have a VC login however, my registration is incomplete since it will not recognize my MIlitary Postal System (MPS) mailing address and I cannot input my local non-US address into the system as a option. So I now must call VC according to their website before I can complete my registration. I called this evening and waited for 30 minutes without an answer. 

 

I remain frustrated by another long wait on the phone for a company that may not be used to supporting the oddities of military customers. 

Everytime I have to waste my time contacting VC due to what appears to be poor handover of my accounts it is an opportunity for me to reconsider if USAA still brings value to my family. It brings me no joy to lose trust in USAA as they have served us well for over 20 years. 

 

As of now I still cannot see or access my accounts that USAA migrated to Victory Capital. This is still a USAA problem to fix.


Regards,
Tony

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Thanks for your reply.

Please get Victory Capital to contact me so I can access my accounts. 

As a customer each post that tells me somone is doing something is meaningless until I can access my accounts. 

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After calling VC twice in two nights, without reaching anyone, I took to Victory Capital’s social media to express my concerns. Within one hour of the post on social media I was sent a phone number and name for a VC rep. The called the rep, explained the issue, and he fixed my access issue overnight.

I am still working with the same gentlemen to fix the same address / registration issue for my wives account.

 

I am grateful for the quick corrective action, however I remain frustrated that I have wasted my time to get access to my investments. This is still an example of how to not provide exceptional customer service during a transition.

Regardless of where our investments currently sit I fully view this as USAA’s mistake and problem. I want someone to contact me directly to discuss how and why this went so badly. A failure to do wo will permanently damage how we view USAA.

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I'm glad to hear you were able to access your information, @Tony6. I'm very sorry for your experience and the frustration it has caused. I'll be happy to escalate all your concerns and request to our experts. Thank you for your additional feedback.

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As of an hour ago the web registration and website access issues for our investments, that are now with Victory Capital, was corrected. The direct POC at VC shared with me after I explained my concerns on the VC facebook page solved our MPS address issues so we could both finish online registration. We are grateful for the quick action and we currently intend to keep our accounts with VC. That said, after this transition period is over for VC if I have any repeat issues in contacting a VC representative I intend to pull all our accounts from VC.

 

Additionally, after describing my concerns on the USAA communities website I was also called by a member of the USAA CEO’s office. The gentlemen apologized, provided additional context for the issues that VC is experiencing, and offered to assist if my issue was not quickly solved. Thank you for calling. 

 

In sum, VC quickly solved our problem and I ask the company to maintain the high-quality level of support that we have received from USAA for the last 20 years. The bar is high and I ask that you dedicate the appropriate resources to maintain our business.

 

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