Vanguard keeps pushing their financial advisors...why?

[Cheez-It Guy]

As others have pointed out, the E-Mails can be stopped. I'm a long-time client and receive only transactional E-Mails and essentially no postal mail. Certainly no postal marketing. I don't think it's about asset level. Call and opt-out if not offered at the bottom of the E-Mail.

Virtually every entity that receives your E-Mail address via any avenue takes it as an invitation to send copious amounts of marketing mail. It is highly annoying, and I work hard to squash such mail at the source as soon as it is received. It usually works pretty well. I went at least 12 years without getting any spam at my primary address. Thanks to a security breach, those days are now over, and my address is too entrenched to easily change.

[afan]

I suspect PAS is both a way to bring in some money- charging a lot more than Vanguard collects from expense ratios- and a way to keep assets at Vanguard. PAS will always put the money in Vanguard products and will not trade in and out. So this gives Vanguard a large stable base of assets. If I were running such a company that would be worth chasing, even if I collected no net income from the PAS fee.

But paying 0.3% for someone to sit on a handful of index funds is a good deal only in comparison to paying someone 1% to try to beat the market.

[smectym]

I suspect PAS is both a way to bring in some money- charging a lot more than Vanguard collects from expense ratios- and a way to keep assets at Vanguard. PAS will always put the money in Vanguard products and will not trade in and out. So this gives Vanguard a large stable base of assets. If I were running such a company that would be worth chasing, even if I collected no net income from the PAS fee.

But paying 0.3% for someone to sit on a handful of index funds is a good deal only in comparison to paying someone 1% to try to beat the market.

That’s the problem, it’s NOT a good deal—not even for the novice or unsure investor. Such investors should be guided to a LifeStrategy Fund or similar.

I’m not criticizing Vanguard for trying to turn a penny. But PAS doesn’t pencil out, due to the fact that Vanguard’s investing philosophy (which I largely endorse) guarantees that once the allocation is set, there is no real role for advice. And while 0.3% may have seemed more modest when the product was conceived, as the ER norm throughout the industry has crashed toward the zero bound, 0.3% starts to look ugly.

[VaR]

Does anyone think it's possible that a great number of non-PAS Vanguard investors have sub-optimal portfolios, chase performance, and try to time the markets?

If you know that you don't need PAS, it's easy enough to ignore the marketing. If you *don't* know you don't need PAS, then maybe you need PAS?

Just a thought.

[lostdog]

If the biggest downside to Vanguard is the PAS emails, we are a lucky bunch.

Delete and move on.

+1

It's not that big of deal to me. I'm actually glad they're working hard to keep costs low for us.

[Sconie]

Yes, Bogle revolutionized investing. Sure. But Vanguard is not Bogle. Don't confuse a person with a company.

Well said!

[student]

Does anyone think it's possible that a great number of non-PAS Vanguard investors have sub-optimal portfolios, chase performance, and try to time the markets?

If you know that you don't need PAS, it's easy enough to ignore the marketing. If you *don't* know you don't need PAS, then maybe you need PAS?

Just a thought.

What you said is true. However, as someone has already pointed out, there is a cheaper alternative. It is to use a LifeStrategy fund. So I think for those who need helps, maybe Vanguard should be pushing their LifeStrategy funds. I think the point that some are making (including myself) is that Vanguard is looking more like one of its competitors such as Fidelity and Schwab than before.

[student]

Yes, Bogle revolutionized investing. Sure. But Vanguard is not Bogle. Don't confuse a person with a company.

Well said!

Yes. Bogle could be a billionaire if he wanted to but he did not chase it. Vanguard now is just a company that I see no difference from Fidelity or Schwab.

Edit: Corrected a typo.

[RickBoglehead]

Yes, Bogle revolutionized investing. Sure. But Vanguard is not Bogle. Don't confuse a person with a company.

Well said!

Yes. Bogle could be a billionaire if he wanted to but he did not chase it. Vanguard now is just a company that I see no difference from Fidelity or Vanguard.

I agree that Vanguard is no different than Vanguard.

[student]

Yes, Bogle revolutionized investing. Sure. But Vanguard is not Bogle. Don't confuse a person with a company.

Well said!

Yes. Bogle could be a billionaire if he wanted to but he did not chase it. Vanguard now is just a company that I see no difference from Fidelity or Vanguard.

I agree that Vanguard is no different than Vanguard.

Good catch. I meant to write Schwab.

[RickBoglehead]

Does anyone think it's possible that a great number of non-PAS Vanguard investors have sub-optimal portfolios, chase performance, and try to time the markets?

If you know that you don't need PAS, it's easy enough to ignore the marketing. If you *don't* know you don't need PAS, then maybe you need PAS?

Just a thought.

What you said is true. However, as someone has already pointed out, there is a cheaper alternative. It is to use a LifeStrategy fund. So I think for those who need helps, maybe Vanguard should be pushing their LifeStrategy funds. I think the point that some are making (including myself) is that Vanguard is looking more like one of its competitors such as Fidelity and Schwab than before.

This is why Vanguard is moving towards a less expensive robo advisor, as has been posted on the forum. 1/2 the cost of PAS. viewtopic.php?t=290769

[student]

Does anyone think it's possible that a great number of non-PAS Vanguard investors have sub-optimal portfolios, chase performance, and try to time the markets?

If you know that you don't need PAS, it's easy enough to ignore the marketing. If you *don't* know you don't need PAS, then maybe you need PAS?

Just a thought.

What you said is true. However, as someone has already pointed out, there is a cheaper alternative. It is to use a LifeStrategy fund. So I think for those who need helps, maybe Vanguard should be pushing their LifeStrategy funds. I think the point that some are making (including myself) is that Vanguard is looking more like one of its competitors such as Fidelity and Schwab than before.

This is why Vanguard is moving towards a less expensive robo advisor, as has been posted on the forum. 1/2 the cost of PAS. viewtopic.php?t=290769

This is true. But my point is Vanguard is pushing PAS (more expensive). We will see whether it will push the the new pure robo advisor rather than PAS later. Also Schwab has a robo advisor with no fee (it makes money from the cash portion) and a hybrid that charges a 1 time $300 plus $30 a month.

[RickBoglehead]

Does anyone think it's possible that a great number of non-PAS Vanguard investors have sub-optimal portfolios, chase performance, and try to time the markets?

If you know that you don't need PAS, it's easy enough to ignore the marketing. If you *don't* know you don't need PAS, then maybe you need PAS?

Just a thought.

What you said is true. However, as someone has already pointed out, there is a cheaper alternative. It is to use a LifeStrategy fund. So I think for those who need helps, maybe Vanguard should be pushing their LifeStrategy funds. I think the point that some are making (including myself) is that Vanguard is looking more like one of its competitors such as Fidelity and Schwab than before.

This is why Vanguard is moving towards a less expensive robo advisor, as has been posted on the forum. 1/2 the cost of PAS. viewtopic.php?t=290769

This is true. But my point is Vanguard is pushing PAS (more expensive). We will see whether it will push the the new pure robo advisor rather than PAS later. Also Schwab has a robo advisor with no fee (it makes money from the cash portion) and a hybrid that charges a 1 time $300 plus $30 a month.

I fail to understand why it matters what Schwab or anyone else has.

Vanguard is not trying to win customers from other brokerages. They are looking to provide services and choice to their existing customers.

Vanguard will never spend the amount of money, as a percentage or flat amount, that Fidelity or Schwab spends on Marketing, because that is not their business focus.

If one does not like what a company is doing, you ask them to stop. If they won't stop, you can take your business elsewhere. Or you can continue to complain and not take your business elsewhere.

We all have choices we can make. I pulled what I had at Fidelity when they could not fix a problem even when Abby Johnson's office got involved. I ultimately setup a conference call between Fidelity, an employer, and a 3rd party company that manages 403b investments so that the 3rd party company and Fidelity could communicate directly and Fidelity could understand that they were doing something wrong with incoming contributions. Took me multiple days of my time. Fidelity was incompetent and then would not offer any compensation for my efforts, so I pulled a lot of money. You can do the same with Vanguard.

[Sheepdog]

There must be. I never get emails from VG and have been with them for many years. I must have gotten one years ago and unsubscribed. I suspect you can also go in and use their secure email and ask them to mark your record down as "do not contact." I told my Flagship rep that there is no need to call me because I never answer the phone.

I haven't received any unsolicited emails from VG either for at least 20 years. Maybe they know I am too old to change my ways and think"why bother".

[student]

Does anyone think it's possible that a great number of non-PAS Vanguard investors have sub-optimal portfolios, chase performance, and try to time the markets?

If you know that you don't need PAS, it's easy enough to ignore the marketing. If you *don't* know you don't need PAS, then maybe you need PAS?

Just a thought.

What you said is true. However, as someone has already pointed out, there is a cheaper alternative. It is to use a LifeStrategy fund. So I think for those who need helps, maybe Vanguard should be pushing their LifeStrategy funds. I think the point that some are making (including myself) is that Vanguard is looking more like one of its competitors such as Fidelity and Schwab than before.

This is why Vanguard is moving towards a less expensive robo advisor, as has been posted on the forum. 1/2 the cost of PAS. viewtopic.php?t=290769

This is true. But my point is Vanguard is pushing PAS (more expensive). We will see whether it will push the the new pure robo advisor rather than PAS later. Also Schwab has a robo advisor with no fee (it makes money from the cash portion) and a hybrid that charges a 1 time $300 plus $30 a month.

I fail to understand why it matters what Schwab or anyone else has.

Vanguard is not trying to win customers from other brokerages. They are looking to provide services and choice to their existing customers.

Vanguard will never spend the amount of money, as a percentage or flat amount, that Fidelity or Schwab spends on Marketing, because that is not their business focus.

If one does not like what a company is doing, you ask them to stop. If they won't stop, you can take your business elsewhere. Or you can continue to complain and not take your business elsewhere.

We all have choices we can make. I pulled what I had at Fidelity when they could not fix a problem even when Abby Johnson's office got involved. I ultimately setup a conference call between Fidelity, an employer, and a 3rd party company that manages 403b investments so that the 3rd party company and Fidelity could communicate directly and Fidelity could understand that they were doing something wrong with incoming contributions. Took me multiple days of my time. Fidelity was incompetent and then would not offer any compensation for my efforts, so I pulled a lot of money. You can do the same with Vanguard.

My point is given by my statement in the message that you replied to: "I think the point that some are making (including myself) is that Vanguard is looking more like one of its competitors such as Fidelity and Schwab than before." I thought your reply was to counter my point. Thus I stated that Schwab has offering similar to Vanguard.

I have Vanguard, Schwab and Fidelity and I like them all in their own rights. I also have no issue with Vanguard's advertisement, I ignore them.

I certainly agree with your statement that "We all have choices we can make" and good for you to take action regarding the disappointing service from Fidelity. I would have done the same. But I disagree with your statement that "Vanguard is not trying to win customers from other brokerages." Perhaps this is where we see things differently.

[MikeG62]

I found it interesting that in these emails promoting their services there is no unsubscribe button to stop getting these emails. They make you actually go and send them an email asking them to stop; which I did.
About 2-3 weeks later I start getting a couple more emails so again I emailed them telling them to stop sending me these emails and take me off that specific list which they promised they would.

I find these e-mails somewhat off-putting. I opened a Vanguard account two months ago (to access Admiral shares for one of their muni bond funds) and have gotten a number of these e-mails now. Feels like one a week. I will try sending them an e-mail telling them to stand down. Hopefully it will be met with better success.

[VaR]

Does anyone think it's possible that a great number of non-PAS Vanguard investors have sub-optimal portfolios, chase performance, and try to time the markets?

If you know that you don't need PAS, it's easy enough to ignore the marketing. If you *don't* know you don't need PAS, then maybe you need PAS?

Just a thought.

What you said is true. However, as someone has already pointed out, there is a cheaper alternative. It is to use a LifeStrategy fund. So I think for those who need helps, maybe Vanguard should be pushing their LifeStrategy funds. I think the point that some are making (including myself) is that Vanguard is looking more like one of its competitors such as Fidelity and Schwab than before.

I agree that LifeStrategy and Target Date funds are cheaper alternatives, but I'll speculate that maybe the Vanguard customers who are already using those products are not the target for this advertising. Perhaps there is some subset of customers who actually want the explanations and hand-holding and it is only through that that they will do something sensible.

I *think* we're all aware that the vast majority of the public has no idea how to invest for retirement or other financial goals. *However*, I think we here may be unaware of what percentage of Vanguard customers also don't have any idea of how to invest for retirement. I convinced a relative to roll over their 401k to Vanguard when they changed jobs in 2007. I checked in a 8 years later and discovered it was still sitting in their settlement fund.

In a separate question: How is providing and marketing PAS beneficial to Vanguard's owners (the funds, and through them the fund shareholders)?

[afan]

In a separate question: How is providing and marketing PAS beneficial to Vanguard's owners (the funds, and through them the fund shareholders)?

Less turnover in fund holdings. PAS will not move in and out of Vanguard funds to chase performance or in response to what some investing guru says will happen in the markets tomorrow.
Increased sales of Vanguard funds and ETFs. PAS will only invest in Vanguard products.
Ability to charge for advice that they might otherwise be asked to provide for free. For those who are completely DIY, this matters not at all. For people who would need some hand holding or advice, 0.3% is better than zero.

These effects would lead to lower costs and higher returns for Vanguard. That makes the funds better off, hence the shareholders better off.

Maybe it is because I have been there forever, but I have not noticed this flood of advertising for PAS.

As prices for expense ratios have reached zero, or effectively negative, I suspect Vanguard or others will be forced to keep driving down the price of investment management. The cost of a pure robo should be close to zero. On the order of a target date or life strategy.
One of the larger firms will probably realize that there is a market for a very low cost service that will set and maintain an asset allocation and do nothing else. The people who want that would never pay 1% or 0.3% for overall advice. So they could sell to them without eroding their base of customers who pay higher AUM. Or use Schwab's model of effectively a low flat fee.

I could see in a few years Vanguard offering a pure robo for 0.05% and PAS, with human advice, for 0.2%

[galawdawg]

If you know that you don't need PAS, it's easy enough to ignore the marketing.

Easier said than done when you login and Vanguard makes you close out a pop-up and then scroll down below a large banner ad to the bottom of the page just to see your accounts.



And pop-up and ad blockers don't block the obnoxious PAS pop-up or banner ad.

[SxSW]

Seems to me that Vanguard isn't quite as altruistic as some of the members of this forum think it is.

My feeling as well. I suspect that PAS is an incredibly profitable service for Vanguard to offer/sell. Unfortunately, Vanguard no longer seems to be the unselfish and altruistic financial organization of years---make that decades----ago.

They got rid of Bogle 20 years ago, and at this point they are three CEOs removed from him. The organization has very little resemblance now to what it was under Bogle, and very few employees left from when he was there.

[SxSW]

Vanguard is not trying to win customers from other brokerages.

Of course they are. They are trying to increase revenue just like any other business.

[frugaltigris]

I have accounts in Fidelity and vanguard. Vanguard keeps sending such emails. Fidelity does not.

[Cheez-It Guy]

Fidelity runs national TV ad campaigns which conveniently fail to mention how their interest rates on cash stacks up against Vanguard.

You can remove yourself from the Vanguard mailings. I do not and have never received them. Update your communication and marketing preferences.

[Nate79]

Vanguard is not trying to win customers from other brokerages.

Of course they are. They are trying to increase revenue just like any other business.

Yes, the they have been pushing it hard for a few years now and they clearly admitted the reason is to increase revenue.

[averagedude]

The more revenue they generate, in theory the better benefits they can offer to their clients, such as more investment products, lower fees and commisions, better service, and better security of client accounts. This industry is rapidly changing and more competitive than ever. Vanguard created this environment and it has been a win for consumers. Vanguard isn't leaps and bounds over its competitors like it was in the past. There are other discount brokerages that have lower fees, longer customer service hours, and more investment choices. I personally vote Vanguard as the best, but this company can't rest on its laurels, and they need to continue to grow, adapt, and innovate to stay at the top in their industry and provide value to their customers.

[AlphaLess]

There's plenty of brokerages out there that won't push unwanted services.

such as?

[AlphaLess]

Using game theory:
- some number of people will probably take up advisor services,
- revenue collected from advisor services will generally provide more bells and whistles to all clients.

So, yea, I think it makes sense for me to avoid Vanguard Advisor services, but it makes sense for me if some of my fellow Vanguard members took those services.

[ragabnh]

I had PAS for 18 months and I hated it, since I lost control over my funds and had to go with their wisdom which I disagreed with, so I gave them the boots. Now I am a happy Vanguard client. I don't receive any emails from them.

[furikake]

Maybe I don't have enough money, but they never email me ads. When I occasionally login to their website I see ads on their homepage, but none in the app. So far it hasn't gotten close to a level that bothers me. Maybe that's the solution... have less money.

Same here! I don't get the emails asking me to use their financial advisor, but I did get a call a while ago from our rep, and we did setup a call with an advisor. It was at no cost to us, he said what we did worked, nothing else needed to be done or managed by them with a fee.

[MikeG62]

You can remove yourself from the Vanguard mailings. I do not and have never received them. Update your communication and marketing preferences.

Can you please share the process to do that. I just spent 5 minutes on their site and cannot find anyway to do what you suggest.

[lostdog]

Vanguard is not trying to win customers from other brokerages.

Of course they are. They are trying to increase revenue just like any other business.

And lower costs for us. That's a good thing.

[frugaltigris]

Fidelity runs national TV ad campaigns which conveniently fail to mention how their interest rates on cash stacks up against Vanguard.

You can remove yourself from the Vanguard mailings. I do not and have never received them. Update your communication and marketing preferences.

No where in my mailing preferences I have asked them to mail me such stuff. Can't even see how to disable such spam emails from them. Can you share a link to filter out such unsolicited "advise" (spam)?

[galawdawg]

You can remove yourself from the Vanguard mailings. I do not and have never received them. Update your communication and marketing preferences.

Can you please share the process to do that. I just spent 5 minutes on their site and cannot find anyway to do what you suggest.

I was also unable to find any opt-out option on the website and the Vanguard Privacy Policy has no opt-out provisions for marketing "other financial products and services that Vanguard offers or sponsors" (https://investor.vanguard.com/investing/privacy-policy,). I have twice contacted Vanguard Flagship reps and indicated we do not wish to receive PAS solicitations, pop-ups or banner ads. While each time we received a reply that "I have opted you out of receiving the marketing material for our Personal Advisor Services offer" we continue to receive this marketing via email and get the obnoxious PAS pop-up AND banner ad at login.

[Trader Joe]

In the last few months we are getting one email after another from Vanguard saying USE OUR Financial Advisors!!! They have begi=un a big push for this it seems. Does anyone know what they are thinking and what else might be changing at Vanguard? We were used to, in the past, being respected as wanting to do things on our own!

I agree with you and I am getting the exact same spam. I have tried to opt out, but it is not working.

If they continue to harass me I will move my business to Fidelity.

[ThereAreNoGurus]

In the last few months we are getting one email after another from Vanguard saying USE OUR Financial Advisors!!! They have begi=un a big push for this it seems. Does anyone know what they are thinking and what else might be changing at Vanguard? We were used to, in the past, being respected as wanting to do things on our own!

I agree with you and I am getting the exact same spam. I have tried to opt out, but it is not working.

If they continue to harass me I will move my business to Fidelity.

I noticed this morning, the silly pop-ups continue, and on my summary page or whatever they call it, I need to scroll down to view it because they have another stupid ad for PAS!

The way this is going Vanguard may add a premium membership so you can view their site ad free... just joking, I think.

[frugaltigris]

In the last few months we are getting one email after another from Vanguard saying USE OUR Financial Advisors!!! They have begi=un a big push for this it seems. Does anyone know what they are thinking and what else might be changing at Vanguard? We were used to, in the past, being respected as wanting to do things on our own!

I agree with you and I am getting the exact same spam. I have tried to opt out, but it is not working.

If they continue to harass me I will move my business to Fidelity.

I noticed this morning, the silly pop-ups continue, and on my summary page or whatever they call it, I need to scroll down to view it because they have another stupid ad for PAS!

The way this is going Vanguard may add a premium membership so you can view their site ad free... just joking, I think.

I think this is getting ridiculous. I am surprised that Vanguard fans are not able to prove one can get rid of this spam. Such pop-ups don't exist for Fidelity at least who have never sent me any such spam email.

[Cheez-It Guy]

You can remove yourself from the Vanguard mailings. I do not and have never received them. Update your communication and marketing preferences.

Can you please share the process to do that. I just spent 5 minutes on their site and cannot find anyway to do what you suggest.

Yes, I should have clarified when I first posted that. Unfortunately, this is not a user-accessible setting, although it should be! However, you should be able to login to your account, and then send Vanguard a secure message asking them to remove you from both E-Mail and postal mail marketing communications.

[Cheez-It Guy]

Fidelity runs national TV ad campaigns which conveniently fail to mention how their interest rates on cash stacks up against Vanguard.

You can remove yourself from the Vanguard mailings. I do not and have never received them. Update your communication and marketing preferences.

No where in my mailing preferences I have asked them to mail me such stuff. Can't even see how to disable such spam emails from them. Can you share a link to filter out such unsolicited "advise" (spam)?

Unfortunately, you find this almost everywhere, both inside and outside the financial world. Generally, companies include you in as much mail as possible and make you take steps to opt out rather than requiring you to opt in to the communications in the first place. Shouldn't be this way, but it is. I assume it's somewhat better in Europe with their new GDPR legislation. Please see my last reply (above) for how to stem these E-Mails from Vanguard.

[sschoe2]

Advising services are a cash cow. They generate a lot of money for very little work. They just have portfolio templates that they pick and put you in. You can do the same with a bit of reading or a target date fund. I just ignore the pitches.

[sschoe2]

Not sure if this is actionable but although I didn't mind the emails, every time I log in now there is a pop up promoting Vanguard PAS that I have to X out of before going to my account. That is getting annoying. Is there any way to get rid of it for good?

[robphoto]

I don't have the link to the particular video, but I know in one of the interviews with John Bogle he mentions that Vanguard's keeping executive compensation secret is one thing he disagrees with.

[galawdawg]

Not sure if this is actionable but although I didn't mind the emails, every time I log in now there is a pop up promoting Vanguard PAS that I have to X out of before going to my account. That is getting annoying. Is there any way to get rid of it for good?

I sent several messages to Vanguard asking them to disable the obnoxious PAS pop-up and PAS banner ad at login. Despite some lip service that they would "opt us out", the advertising continued.

Until....we moved the bulk of our portfolio from Vanguard Brokerage Services to E*TRADE. Now that we are no longer Flagship level, I no longer deal with the PAS solicitations, pop-ups or banner ads! Plus, E*TRADE gave us thousands of dollars to switch AND we get to hold, buy and sell our Vanguard mutual funds and our Vanguard Money Market at no cost and with no transaction fees!

So perhaps the key is to move enough money OUT of Vanguard to drop below Flagship level. And with some nice incentive offers from competing brokerages, free commissions and even no fee Vanguard mutual funds at E*TRADE, this may be a opportune time for those like us who have been disappointed with the decline in Vanguard's level of service.

I also agree with Jack Bogle and quite a few Bogleheads who argue that Vanguard should disclose executive compensation. I find it concerning that Vanguard is one of the least transparent when it comes to executive compensation. Has the money saved by Vanguard by cutting Flagship benefits and services and the money it has earned through PAS flowed back to the "client-owners" or has it gone to increase executive compensation?? What other company hides that information from it's "client-owners"??

[StandingRock]

Not sure if this is actionable but although I didn't mind the emails, every time I log in now there is a pop up promoting Vanguard PAS that I have to X out of before going to my account. That is getting annoying. Is there any way to get rid of it for good?

I sent several messages to Vanguard asking them to disable the obnoxious PAS pop-up and PAS banner ad at login. Despite some lip service that they would "opt us out", the advertising continued.

They will totally lie to you just to get you off the phone.

[bondsr4me]

I also agree with Jack Bogle and quite a few Bogleheads who argue that Vanguard should disclose executive compensation. I find it concerning that Vanguard is one of the least transparent when it comes to executive compensation. Has the money saved by Vanguard by cutting Flagship benefits and services and the money it has earned through PAS flowed back to the "client-owners" or has it gone to increase executive compensation?? What other company hides that information from it's "client-owners"??

Owners...not in the true sense of ownership AFAIC...no transparency...no real accountability to us "owners"...no voting rights for the company we supposedly "own".....owners....not in my book...
maybe it would be different if Jack was still around and running HIS Vanguard.....oh well.

[meercat8]

I am noticing less ads. Anyone else notice this. Not sure why the change.

[Alan S.]

The whole model of income generation for advisors and custodians of plans is changing very rapidly. The virtual elimination of commissions and fees is causing pressure to generate income elsewhere.

Pushing these advisors is likely a piece of it, but I can't tell you how many different income streams this would potentially generate for VG. This factor is also a key to the Schwab acquisition of TDA.

[celia]

I know I can delete these weekly emails from Vanguard, I am just wondering why they recently started pushing this, and if any other changes are in the works at Vanguard. Anyone know?

We’ve never received these emails or pop-up ads and we’re Flagship (although no one individual is Flagship) and get some statements in the postal mail. But for us, our portfolio has about 20 accounts with lots of different titling (his, hers, joint, IRAs and Inherited, trust#1, trust#2, trust#3, and accounts for relatives where I’m an agent). If they were to send us the emails, we would probably get 20 of the same message.

So I assume they don’t want to be involved in this mess.

[fgtayl01]

Companies provide services to meet customer demand.

[Grt2bOutdoors]

Companies provide services to meet customer perceived demand.

[Sconie]

I also agree with Jack Bogle and quite a few Bogleheads who argue that Vanguard should disclose executive compensation. I find it concerning that Vanguard is one of the least transparent when it comes to executive compensation. Has the money saved by Vanguard by cutting Flagship benefits and services and the money it has earned through PAS flowed back to the "client-owners" or has it gone to increase executive compensation?? What other company hides that information from it's "client-owners"??

Owners...not in the true sense of ownership AFAIC...no transparency...no real accountability to us "owners"...no voting rights for the company we supposedly "own".....owners....not in my book...
maybe it would be different if Jack was still around and running HIS Vanguard.....oh well.

Yes----the lack of accountability is quite disconcerting and creates the impression that Vanguard is less than an upstanding and forthright organization.