Victory Capital Review for 2024
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Review of Victory Capital Management Mutual Funds
Victory Capital Management (VCM) manages $147.2 billion and grows mainly by buying other fund companies or entire brokerages. These acquired companies operate semi-independently under the VCM umbrella. You don’t need to be from an acquired company to invest with VCM. This review will share my personal experience with them, highlighting the pros and cons.
Victory Capital Management Investment Products
Victory Capital offers a limited selection of mutual funds, ETFs, and other investment products. They have 56 mutual funds available, 45 of which came from the acquisition of USAA.
Many customers came to VCM when their original mutual funds were acquired. VCM has a history of buying companies like Munder Capital and RS Investments. The ratings for these funds are average, with funds maintaining their original investment goals.
Victory Capital also offers ETFs under the VictoryShares brand, known for being low-cost, diversified, and tax-efficient. There are 23 ETFs available. I haven’t used these personally, but they offer both conservative and aggressive options with an average expense ratio of 0.38%.
Additionally, they offer 529 College Savings Plans and Retirement Funds, mostly from previously acquired USAA funds, though it’s unclear if these are available within an IRA.
Customer Service
My experiences with VCM's customer service have been mixed. Initially, before the USAA acquisition, the service was prompt and helpful. Recently, however, I’ve experienced long waits and technical issues with their website chat, which suggest they might be struggling with the volume of support requests.
If efficient, knowledgeable customer support is crucial for you, VCM might not be the best choice.
User Experience
A major downside is VCM’s lack of a mobile app, which is almost a necessity in today’s investment world. Their desktop experience isn’t great either; navigating the website can feel disjointed and the interface changes when switching sections.
The security is strong with required two-factor authentication for logins, but the lack of a “remember computer” option can be inconvenient. Viewing investment data is basic, without interactive charts or advanced research tools. The site offers limited investment options and only quarterly statements, which could be more frequent.
Best Brokers For Victory Capital Funds
Victory Capital Review Conclusion
Victory Capital Management might be managing your investments because they acquired your previous brokerage. There are better options available if you're considering starting with new investments. While VCM covers the basics, their lack of modern tools and mobile access might be a dealbreaker for active investors.
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Updated on 7/4/2024.
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