Vanguard Group will not be outdone. A fintech start-up offered to zero-fee ETFs first, but that’s quickly becoming old news.
Vanguard Group will not be outdone. A fintech start-up offered zero-fee ETFs first, but that’s quickly becoming old news.
“Vanguard has reset the bar in the price competition for asset allocation products,” says Todd Rosenbluth of CFRA. “While we’ll soon have zero-fee ETFs from SoFi, these Vanguard products are extremely popular and investors are only more likely to gravitate toward them as they focus more on fees.” Vanguard’s ETFs could become a bigger part of its overall business. As the low-cost revolution pushed investors to fixate on costs, the firm’s clients have increasingly picked up ETFs. And as the assets in Vanguard’s products grow, the firm’s business model allows it to pass on savings to its customers. ETF assets account for some 20% of Vanguard’s near $5 trillion in assets, but they accounted for more than 35% of its net cash flow in the last three years.
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