Bogleheads -
A few years ago I read a few articles on a "rumor" that Vanguard may have been considering starting a bank. Whatever became of this? Does anyone have any idea?
http://www.reuters.com/article/us-vangu ... 1Q20120712
Best.
Vanguard - Bank?
- abuss368
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Vanguard - Bank?
John C. Bogle: “Simplicity is the master key to financial success."
Re: Vanguard - Bank?
I would suspect there are two likely reasons nothing observable has happened with this. One, with low interest rates it's harder for banks to squeeze out a profit and two, there is some regulatory interference with executive compensation levels if an organization includes a bank. A bank subsidiary can muck up the executive compensation works in the recent regulatory environment.
The closest helping hand is at the end of your own arm.
- abuss368
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Re: Vanguard - Bank?
The article I provided a link to referenced the uncertainty with the new money market rules and changes at the time.
John C. Bogle: “Simplicity is the master key to financial success."
Re: Vanguard - Bank?
Close but no bananas - Vanguard Advantage Accounts
https://personal.vanguard.com/us/help/FAQVAAContent.jsp
Thanks for reading ~cfs
https://personal.vanguard.com/us/help/FAQVAAContent.jsp
Thanks for reading ~cfs
~ Member of the Active Retired Force since 2014 ~
- abuss368
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Re: Vanguard - Bank?
Hi cfs -cfs wrote:Close but no bananas - Vanguard Advantage Accounts
https://personal.vanguard.com/us/help/FAQVAAContent.jsp
Thanks for reading ~cfs
I read this on the Vanguard website many years ago. It appears to not be well discussed or marketed.
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Vanguard - Bank?
Déjà vu?abuss368 wrote:Bogleheads -
A few years ago I read a few articles on a "rumor" that Vanguard may have been considering starting a bank. Whatever became of this? Does anyone have any idea?
http://www.reuters.com/article/us-vangu ... 1Q20120712
Best.
viewtopic.php?t=187149
Re: Vanguard - Bank?
AB, Vanguard sent me a brochure a couple of years ago, but I have no need for this type of service. tfr/cfsabuss368 wrote:Hi cfs -cfs wrote:Close but no bananas - Vanguard Advantage Accounts
https://personal.vanguard.com/us/help/FAQVAAContent.jsp
Thanks for reading ~cfs
I read this on the Vanguard website many years ago. It appears to not be well discussed or marketed.
~ Member of the Active Retired Force since 2014 ~
- abuss368
- Posts: 27850
- Joined: Mon Aug 03, 2009 2:33 pm
- Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!
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Re: Vanguard - Bank?
Thank you!Silence Dogood wrote:Déjà vu?abuss368 wrote:Bogleheads -
A few years ago I read a few articles on a "rumor" that Vanguard may have been considering starting a bank. Whatever became of this? Does anyone have any idea?
http://www.reuters.com/article/us-vangu ... 1Q20120712
Best.
viewtopic.php?t=187149
John C. Bogle: “Simplicity is the master key to financial success."