IN Voices

Man vs.Vanguard
Trevor Hunnicutt’s article about the buzz in the financial advice industry created by the Vanguard Group Inc.’s expansion of its web-based retail advice service led readers to debate whether online advice would really ever replace human advisers. Some also argued about Vanguard’s vaunted low-cost investing method.
“Looks like the beginning of the end for fee-based flesh-and-blood advisers.” — Robert_Dieli
“I think there will always be a place for human advisers. I would like to think that this would get rid of the many bad apples out there. Unfortunately, some people have the ability to sell sand in a desert and it will probably be these “salespeople” that will continue to thrive … selling what’s best for them; not necessarily what’s best for their clients.” — AssnapKined
“This is a puzzle. Why the fuss? Vanguard has been courting my clients for 15 years. As soon as a client’s portfolio reaches Vanguard’s “magic number,” clients are approached by Vanguard via e-mails and the USPS. Something to the effect of “look what WE can do for you.’ I’ve helped clients weigh the costs and services and nobody has yet to take the bait.” — Jon Ford
“Had money with Vanguard for 12 years in a company 401(k) and only made 2.8% in 12 flipping years! Vanguard stinks and they are cheap for a reason as they don’t know how to make money in the stock market. I would never trust Vanguard robots to manage my money and charge me 25 to 35 basis points on my assets to lose my money. I would rather pay humans, thank you very much.” — Guest
“Well you must be some crappy investor, because with a median income, I was able to catapult myself into the top 7% of net wealth using Vanguard funds. Many of us view the rise of Vanguard (and DFA) as a sign that people are finally getting it! You are more than welcome to pay humans to manage your money. After all, those humans need to eat, send their kids to expensive colleges, buy vacation homes, etc. I would rather they be using your money than mine!!!” — AssnapKined
“You must work for Vanguard. Are you Bogle’s godson? LOL. I use Fidelity Advisor funds; they sell non-adviser funds as well, most held in annuities and 401(k)s, but I noticed the Advisor funds perform better than the cheaper institutional funds they sell. If you manage your own money and are happy, you have a right to do, so but if someone wants to hire someone to help them, that is their right as well.” — Guest