Lately, some of Vanguard’s most loyal long-term investors have been getting letters and emails that state: “If you choose to remain on the mutual fund-only platform after September 30, 2022, you’ll be charged a $20 annual account service fee for each fund account to offset the costs and complexity of maintaining this system.”
After decades of supporting two investment platforms—its brokerage and its legacy one just for in-house mutual funds—Vanguard is putting pressure on retail investors to leave the legacy one and join the...
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