Oops.

“Vanguard Messes Up Messages To Clients,” The Wall Street Journal, July 26, 2018 B10.  Money manager with over $5 trillion in assets under management sends text messages to clients that the money manager had processed loans against their 401(k) accounts.  But the customers hadn’t requested the loans.

Imagine the customer reaction.

How important is it to get your client communications right the first time?  Are you in the trust business?  Is claiming a “systems issue” enough?

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Filed under Accuracy, Communications, Controls, Corporation, Data quality, Duty, Duty of Care, Governance, Information, Internal controls, Investor relations

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