In Vanguard’s brochure for its hybrid service offered through Vanguard Advisers Inc. (VAI), “the company explicitly states on the first page that ‘VAI has a fiduciary duty to act in its clients’ best interests…,” McNabb said.
Vanguard Asks SEC To Develop 'Best Interest' Fiduciary Rule For Brokers
October 3, 2017
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Vanguard would already be in violation of the rule. They charge 30 bps for Advisory Services, and only advise people to buy Vanguard Funds. No conflict of interest there...