Vanguard Price Cut for Big Investors

Vanguard CEO John Brennan announced September 5 that the firm has divvied its services into three tiers. Voyager class shareholders with $100,000 to $500,000 in assets at Vanguard will get a financial plan from a CFP for $250, and assorted other privileges which include a “dedicated service team,” exemption from account maintenance fees, and discounted equity commissions. Clients with $500,000 to $1,000,000 in Vanguard investments qualify for Voyager Select status and get an enhanced version of the above. Those with more than $1 million get all of the above, “anytime consultation with a CFP,” deeper equity trade commission discounts, access to certain closed Vanguard funds, and a “dedicated service associate.”– Kathleen M. McBride