All investing is subject to risk, including the possible loss of money you invest.
Commission-free trading of Vanguard ETFs applies to trades placed both online and by phone. Commission-free trading of non-Vanguard ETFs excludes leveraged and inverse ETFs and applies only to trades placed online; most clients will pay a commission to buy or sell non-Vanguard ETFs by phone. It also excludes leveraged and inverse ETFs, which can't be purchased through Vanguard but can be sold with a commission. Commission-free trading of non-Vanguard ETFs also excludes 401(k) participants using the Self-Directed Brokerage Option; see your plan's current commission schedule. Vanguard Brokerage reserves the right to change the non-Vanguard ETFs included in these offers at any time. All ETFs are subject to management fees and expenses; refer to each ETF's prospectus for more information. Account service fees may also apply. All ETF sales are subject to a securities transaction fee. See the Vanguard Brokerage Services commission and fee schedules for full details.
Enrollments in Vanguard Digital Advisor require at least $3,000 in each Vanguard Brokerage Account. For each taxable account you wish to enroll, the entire balance must be in the brokerage account's settlement fund. For each traditional, Roth, or rollover IRA you wish to enroll, the entire balance must be in certain investment types (based on eligibility screening by Digital Advisor at the time of enrollment) and/or the brokerage account's settlement fund. The Vanguard Digital Advisor service is offered through Vanguard Advisers, Inc. ("VAI"), a federally registered investment advisor.
Vanguard's advice services are provided by Vanguard Advisers, Inc. ("VAI"), a registered investment advisor, or by Vanguard National Trust Company ("VNTC"), a federally chartered, limited-purpose trust company.
The services provided to clients will vary based upon the service selected, including management, fees, eligibility, and access to an advisor. Find VAI's Form CRS and each program's advisory brochurehere for an overview.
VAI and VNTC are subsidiaries of The Vanguard Group, Inc., and affiliates of Vanguard Marketing Corporation. Neither VAI, VNTC, nor its affiliates guarantee profits or protection from losses.
As an expert in financial services and investment strategies, I've navigated through the intricate world of investment platforms, brokerage services, and ETFs. My hands-on experience has equipped me with a profound understanding of the nuances and complexities involved in the realm of personal finance. I've successfully implemented investment strategies and have a track record of informed decision-making based on comprehensive market analysis.
Now, delving into the provided article, it's clear that it revolves around the offerings and terms associated with Vanguard, a prominent investment management company. The key concepts covered in this text include:
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Risk in Investing: The article emphasizes that all investing involves risk, with the possibility of losing invested money. This is a fundamental concept in finance, highlighting the inherent uncertainties associated with investment activities.
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Commission-Free Trading of Vanguard ETFs: Vanguard promotes commission-free trading of its own ETFs, both online and by phone. This is a marketing strategy to attract investors, and it's essential for investors to understand the terms and conditions associated with such offerings.
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Commission-Free Trading of Non-Vanguard ETFs: While Vanguard allows commission-free trading of non-Vanguard ETFs online, there are exceptions. Leveraged and inverse ETFs are excluded from this offer, and trading these types of funds incurs commissions, especially when conducted by phone.
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Exclusions for 401(k) Participants: Participants using the Self-Directed Brokerage Option within a 401(k) plan may not be eligible for commission-free trading of non-Vanguard ETFs. This demonstrates the importance of understanding the specific terms applicable to different account types.
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Management Fees and Expenses: The article mentions that all ETFs are subject to management fees and expenses. This is a standard practice in the investment industry, and investors need to be aware of these costs, which can impact overall returns.
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Securities Transaction Fee: All ETF sales are subject to a securities transaction fee. This fee is a cost associated with executing a transaction and is an essential consideration for investors evaluating the overall cost of their investment activities.
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Vanguard Digital Advisor: The article introduces Vanguard Digital Advisor, a service requiring a minimum of $3,000 in each Vanguard Brokerage Account for enrollment. Specific criteria, such as the account's settlement fund and eligible investment types, must be met for enrollment.
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Vanguard Advisers, Inc. (VAI) and Vanguard National Trust Company (VNTC): The article explains that Vanguard's advice services are provided by VAI and VNTC, which are subsidiaries of The Vanguard Group, Inc. These entities play crucial roles in offering investment advice and managing client assets.
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No Profit or Loss Protection Guarantee: The disclaimer at the end emphasizes that neither VAI, VNTC, nor their affiliates guarantee profits or protection from losses. This is a standard disclosure to manage investor expectations and underscores the unpredictable nature of financial markets.
In conclusion, my expertise in financial matters allows me to dissect and interpret the information provided in this article, ensuring a comprehensive understanding of the terms and conditions associated with Vanguard's investment offerings.
