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Why Vanguard Is About To Engulf The Financial Planning Industry

TedTed
in Fund Discussions
FYI: Bill McNabb, CEO of Vanguard Group, gave a keynote speech at the 2016 Inside ETFs conference in Florida declaring the importance of advisers in delivering alpha to clients. But a bit more interesting to me was the incredible growth the firm is experiencing in its centralized advice offering.
Regards,
Ted
http://www.investmentnews.com/article/20160212/BLOG16/160219961/why-vanguard-is-about-to-engulf-the-financial-planning-industry

Comments

  • Sven
    Traditional banks and full service brokerages are already feeling it already. Maybe they can hanging to the older clients, I think the shift has already began. I have relatives who work on wealth management business and they are having hard time retaining clients, let alone growing new clients.
  • BobCBobC
    Centralized advice is ok, but it is often superficial. The fact that Vanguard might be getting some clients from the banks and full-service brokerages is not surprising, since those outlets are all about selling products (load funds and annuities). But the RIA community has been taking market share from the same group for years now.
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