I don’t understand why customer owned co-ops aren’t ubiquitous. Vanguard is amazing- low fees, and great services- they beat all of the competition. I had to call their support line today and it was the most professional customer service I’ve ever experienced.
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It’s even weirder than that!
Vanguard has an odd corporate structure where it’s owned by the funds that it manages, so it’s effectively a co-op owned by its customers.
I don’t understand why customer owned co-ops aren’t ubiquitous. Vanguard is amazing- low fees, and great services- they beat all of the competition. I had to call their support line today and it was the most professional customer service I’ve ever experienced.
Interesting, that's inline with Bogle's mission for low (0%) mgmt fees.
I think it probably doesn't apply to other majority holders like BlackRock though.