Personal Investments • Worried about vanguard

I use both Vanguard and Fidelity equally. I am closing my unsued Vanguard accounts.
Vanguard is owned by fund shareholders which I think this is a good thing.
Fidelity is primarily owned by Abigail Johnson.
Fidelity may have better service, but you are paying for it.

This underlined statement is false for most of us.
I am NOT paying more at Fidelity. Less actually.
Don't fall for Vanguard's marketing gimmick about it's ownership structure- I think the lack of oversight it actually bad for customers - not good.

Is Abigail Johnson's net worth of $29 billion also a marketing gimmick?
The Fidelity profit goes to Fidelity owners, the Vanguard profit goes back to the shareholders.

Wrong again - or at least wrong in part - I never got any Vanguard profits - Vanguard profits are distributed to all salaried employees at Vanguard as part of a generous profit-sharing program.
I don't fault Abigail for running a profitable and successful business. I buy Apple products as well even though their leaders have made huge profits. Why should I care - if they both (Fidelity, Apple) provide me the best product and service for the money.

I would never suggest someone steer away from the provider of a product or service simply based upon how successful they have been providing it. I don't get this argument.

Statistics: Posted by delamer — Sun May 05, 2024 8:02 am — Replies 51 — Views 4697