Oisin Breen

Nice piece, Oisin. Ramji inherits one of the world's largest fan bases of any company or sport franchise. Also one, as it concerns Jack Bogle, with the highest standards. This is what our 2020 public opinion research on Bogle suggests. There is too much talk about Ramji calling himself a Boglehead and not enough about acting like a Bogle. Richard Nixon's attorney general may have said it best, "Watch what we do, not what we say."

27% of funds but 5% of revenue might simply reflect that they are the low cost they claim to be. Making lots of money of off customers, as much or more than others, is not necessarily a place where I want to put my money. Low cost, high quality, sufficient profit is not a bad way of doing business.

Brooke Southall and Keith Girard

Salim Ramji will match, then 'exceed,' Vanguard rivals' technology with Amazon help -- a move Fidelity has already made -- and he's an outright 'Boglehead,' he says in new interview

The Vanguard Group

Salim Ramji

A look at the numbers shows that exchange traded funds are starting to move in lockstep with RIAs and vice-versa. RIAs invested $496 billion in ETFs in the 12-month period ended June 30, 2015 – that’s a $78 billion increase compared to the same period the year before. By comparison, the wirehouse channel added 20% fewer ETF assets, or $397 billion in the last year; granted, an amount that was $70 billion greater than its aggregate investment during the same 12-month period the year before, according to Broadridge Financial Solutions. RIAs that manage portfolios and make discretionary investment choices for their clients value ETFs because they provide advisors with easy access to market segments at a cheap price – an especially important factor for RIAs who are compensated on an asset-fee basis. Fee-based advisors appreciate ETFs’ tax efficiency, liquidity and broad exposure at low cost. Conversely, RIAs are a prized channel for ETF-makers like State Street, Invesco, PowerShares, Vanguard Group and BlackRock. ETFs are also a major ingredient in portfolios devised by robo-advisors -- essentially automated RIAs -- for the mass affluent who invest more than 90% of their assets using ETFs.

ETFs

The new Vanguard CEO acknowledges the company 'could have started earlier' than three years ago, and his domain architect, Joseph Wagner, Jr., says starting fresh is helping purge 'weird errors.'

Salim Ramji will match, then 'exceed,' Vanguard rivals' technology with Amazon help -- a move Fidelity has already made -- and he's an outright 'Boglehead,' he says in new interview

Knut A Rostad

Bruce

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Salim Ramji will match, then 'exceed,' Vanguard rivals' technology with Amazon help -- a move Fidelity has already made -- and he's an outright 'Boglehead,' he says in new interview

Knut A Rostad

Bruce

Related Moves

May 15, 2024 at 12:48 AM

March 1, 2024 at 3:35 AM

March 25, 2023 at 1:32 AM

March 8, 2023 at 3:28 AM

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