Just received some good news from The Vanguard Group today:
For more than a quarter century, Vanguard Brokerage Services® has built a strong reputation for providing client-focused services and value-based pricing. Now we are proud to announce another positive step toward that commitment: On May 20, 2009, Vanguard Brokerage will begin to assume the duties and responsibilities of our clearing agent, Pershing LLC.
I’ve been anticipating and waiting for this to happen for a long time. I knew this day would come eventually. This change should be a win-win situation for both Vanguard and their clients. Personally, I trust Vanguard with all of my investments and believe they’ll provide their brokerage services with my best interests in mind.
It’s only speculation on my part, but I’m sure their brokerage fees will become more competitive too.
Comments 1
Just moved all of my directly-held stock certificates back to Vanguard. They were pretty quick in applying them to my account. The whole process, even with the holiday mail, took only 4 days.
Posted 28 Dec 2008 at 11:34 pm ¶Post a Comment