FYI: There's never been a money-management business like Vanguard Group Inc. Any time it enters a new market, competitors see their margins demolished via the so-called Vanguard effect. No other firm controls costs the way it does. And since the financial crisis, no other firm has attracted more assets more quickly. Since 2009, Vanguard has expanded from about $1 trillion in assets under management to almost $5 trillion.
Regards,
Ted
https://www.bloomberg.com/view/articles/2017-10-12/understanding-what-makes-vanguard-so-successful
