Warning: Vanguard.com will not work properly with JavaScript disabled!
Vanguard - Brokerage FAQs - FundAccess

Help Center  »  Brokerage

Brokerage FAQs—FundAccess

What is FundAccess®?

How do I place a FundAccess order?

What are the minimum initial and additional investment requirements for funds purchased through FundAccess?

How quickly will Vanguard Brokerage execute my fund orders?

Why is my FundAccess order showing as unexecuted or open?

Can I cancel a FundAccess order?

How do I exchange my funds from other companies for Vanguard fund shares?

Can I sell, exchange, buy, and transfer load funds in a Vanguard Brokerage account?

Is there any limit on the frequency or timing of FundAccess trades?

Can I automatically sell, exchange, or buy a FundAccess fund on a set schedule?

What is FundAccess?

FundAccess lets you invest in a wide range of mutual funds from other companies, all through the same Vanguard Brokerage Services® ("Vanguard Brokerage") account that you use to buy Vanguard ETFs®, stocks, bonds, options, and ETFs from other companies. FundAccess allows you to:

  • Choose from thousands of mutual funds from hundreds of other fund companies, including hundreds of no-load funds without a transaction fee.
  • Buy, sell, or exchange all your non-Vanguard mutual funds through one Vanguard Brokerage account.
  • Track all your non-Vanguard mutual fund investments—along with your other brokerage and Vanguard fund account assets—with one consolidated account statement from Vanguard.
  • Consolidate the non-Vanguard mutual fund shares you already own by transferring them into a Vanguard Brokerage account. We don't charge any transfer fees, and if you redeem the transferred shares, no minimum holding period will apply.
  • Get immediate online access to fund prospectuses and reports, and obtain comprehensive information on any fund offered.
  • Move fund positions into your approved margin account after 30 days to increase buying power.

As a Vanguard Brokerage client, you're automatically eligible to use FundAccess.

Return to top

How do I place a FundAccess order?

You can place orders:

  • Online at vanguard.com.
  • By phone with the help of a licensed brokerage associate.

If you'd like to place orders on vanguard.com but don't yet have an online account, sign up today.

Return to top

What are the minimum initial and additional investment requirements for funds purchased through FundAccess?

No-transaction-fee (NTF) funds are subject to the greater of the FundAccess program minimum investment requirements ($3,000 initial and $1,000 additional investments for nonretirement accounts and $1,000 initial and additional investments for IRAs) or the minimum investment requirements as identified in the fund's prospectus.

Transaction-fee (TF) and load funds are subject to the greater of the FundAccess program minimum investment requirements ($1,000 initial and additional investments for nonretirement accounts and IRAs) or the minimum investment requirements as identified in the fund's prospectus.

From time to time, Vanguard Brokerage may negotiate minimum investment requirements with a particular fund family that are greater than or less than the program standards noted above.

Return to top

How quickly will Vanguard Brokerage execute my fund orders?

If your order is for a fund from another fund company and is received by the fund's cutoff time, we'll execute it that day at the fund's next determined net asset value (NAV) or public offering price. All orders received after the fund's cutoff time will be executed the next business day at the fund's then-current NAV or public offering price. Although rare, exceptions may apply, so you should be familiar with a fund's policies as described in its prospectus. Cutoff times vary by fund. To find the cutoff time for a fund, check the fund's profile in our Funds, Stocks & ETFs area.

If you redeem shares from one fund and invest the proceeds in another fund on the same day, both orders will be executed that day if the redemption is for an exact dollar amount. If the redemption is for a quantity of shares, however, your purchase will be executed on the following business day; we must first calculate your proceeds to determine the amount available for your purchase. To ensure that your money is always invested, your proceeds will be moved to your money market settlement fund for the brief period when you are out of the market.

Return to top

Why is my FundAccess order showing as unexecuted or open?

FundAccess funds aren't traded in the open market; they are transacted at that day's net asset value (NAV). Vanguard Brokerage must confirm your order with the fund family before we can post your trade on the account. Therefore, until the fund family confirms your order, you will see your order reflected as "Open" on the Order status page of our website.

After Vanguard Brokerage receives confirmation of your order from the fund family, we will systematically post your order into your account. Because of the systematic posting, you will not see the order reflected online until the next day. Please note that the processing may delay the settlement sweep.

Return to top

Can I cancel a FundAccess order?

Vanguard Brokerage will, on a best-efforts basis, attempt to cancel a trade upon request. Please note that there's no guarantee that a given trade can be canceled. To request the cancelation of a FundAccess trade, please call 877-992-8327 on business days from 8 a.m. to 10 p.m. or on Saturdays from 9 a.m. to 4 p.m., Eastern time.

Return to top

How do I exchange my funds from other companies for Vanguard fund shares?

Moving your funds is a two-step process:

  1. First you must sell the fund from the other company and allow the proceeds to be swept into your money market settlement fund. 
  2. Upon settlement, you can buy Vanguard funds as you wish.

Return to top

Can I sell, exchange, buy, and transfer load funds in a Vanguard Brokerage account?

Load funds can be sold online at vanguard.com but can only be bought or exchanged for another load fund through the FundAccess trade desk. Most load funds can be transferred into your Vanguard Brokerage account. Please check the fund's profile in our Funds, Stocks & ETFs area to verify whether we can hold a particular load fund.

Return to top

Is there any limit on the frequency or timing of FundAccess trades?

We support the safeguards that fund families have put in place to protect shareholders from the potentially harmful effects of frequent trading and market-timing. Please be aware that a fund family may reject trades that violate its frequent-trading policy. For more information, see the Frequent-trading and redemption-fee policies for Vanguard Brokerage accounts.

Return to top

Can I automatically sell, exchange, or buy a FundAccess fund on a set schedule?

Yes. You can have your account set up to automatically purchase, exchange, or redeem a specific dollar amount (minimum $100) of an eligible FundAccess fund on a weekly, monthly, quarterly, or semiannual basis using our dollar-cost-averaging (DCA) program.*

To participate, you must have previously established a position in a DCA-eligible fund either by meeting that fund's minimum initial purchase amount or by transferring the position into your Vanguard Brokerage account. The purchase payments and redemption proceeds will be swept to and from your linked Vanguard money market settlement fund.

No commission is charged for DCA-eligible, no-transaction-fee funds. A $3 fee will be charged per transaction for eligible transaction-fee funds. No-transaction-fee shares held less than 180 days will be charged a 1% redemption fee, with a minimum fee of $50 and a maximum fee of $250. Trading limits and fund expenses may apply. See the Vanguard Brokerage Services commission and fee schedules for full details.

Most FundAccess funds are eligible for DCA. To participate in our dollar-cost-averaging program, call 877-992-8327.

* Dollar-cost averaging doesn't guarantee that your investments will make a profit nor does it protect you against losses when stock or bond prices are falling. You should also consider whether you would be willing to continue investing during a long downturn in the market since dollar-cost averaging involves continuous investment in securities regardless of fluctuating price levels.

Return to top

Vanguard Brokerage Services is a division of Vanguard Marketing Corporation, member FINRA and SIPC.

E-mail this page

Send a link Send a link

© 1995–2014  The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, distributor. Your use of this site signifies that you accept our terms & conditions of use.
Security  |  Prospectuses  |  Careers  |  Mobile  |  Feedback