Vanguard Group Inc. has cut the expense ratios of 17 of its funds, a move that will produce an estimated $18.9 million in savings for investors, the fund giant said.
The estimates were based on year-over-year comparisons for the company's fiscal years ended Aug. 31, 2020, and Aug. 31, 2021, respectively.
Vanguard lowered expense ratios by one basis point on nine fixed-income exchange-traded funds. It also lowered expense ratios by one basis point on its International Growth Fund Admiral Shares and International Growth Fund Investor Shares.
It lowered expenses by two basis points on its Global Wellington Fund Investor Shares, and by three basis points on its ESG U.S. Stock ETF, ESG International Stock ETF and its Global Wellesley income Fund Admiral Shares. It lowered expenses by five basis points on its Global Wellington Fund Admiral Shares and by 12 basis points on its Explorer Fund Value Shares.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
