I was going to put this in the Other §, but some opt out of that since it’s a free-for-all lounge.
Vanguard Stumbles In Pivot From Cult of Jack Bogle For diehard fans of the company’s founder, what’s at stake is the very soul of the $8 trillion mutual-fund giant
Courting suspicion from traditionalists, Vanguard is pushing ever deeper into financial advice, known internally as “Engine No. 2” of growth. It’s giving wealthier clients and advisory customers the velvet-rope treatment, in contrast to Bogle’s everyman ethos. With scant notice, it’s quintupled the minimum balance required for one personalized service to $5 million.
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Just this month, three investors filed a class-action lawsuit, saying changes to popular target-date funds saddled thousands of individual customers with “massive” tax bills, all for the benefit of big institutions.
“The ethics came from Jack Bogle, and I’m a little concerned they’re going in different directions,” said Allan Roth, founder of Colorado-based financial planning firm Wealth Logic, and a self-described Boglehead.
Vanguard, however, is still the ONLY Investment company owned by all of us? Don't have to do things to keep their investors happy as all other investment companies need to do?
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
Yup. On one hand, I don't care about the fleecing of high net worth investors. If they want to pay Vanguard to manage their money for them, and it doesn't affect me? Fine. But I suspect that that kind of thing will start (probably already has) populating Vanguard with people that I'd rather not work there, doing things that I don't want them to do.
Yup. On one hand, I don't care about the fleecing of high net worth investors. If they want to pay Vanguard to manage their money for them, and it doesn't affect me? Fine. But I suspect that that kind of thing will start (probably already has) populating Vanguard with people that I'd rather not work there, doing things that I don't want them to do.
Yet is there any other investment company superior to them?
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
I like different features from different houses. Fidelity is not a co-op, but their website is so much better in so many ways. If i hadn’t been “born into” Vanguard, I might’ve gone with Fidelity.
