Vanguard, the fund company that oversees more than $3 trillion in assets and that has built its brand largely on its low-cost, passively managed indexed mutual funds, has been cited by Labor Secretary Thomas Perez in public comments and in testimony before Congress as a company that operates with its clients’ best interests in mind.
On one occasion, Perez quoted Vanguard founder Jack Bogle in an interview with CNBC in which he defended Labor’s initiative to craft a new fiduciary standard for all retirement advisors.
“When you put your customers first, that’s not only good for the customer, it’s good for business,” said Perez, quoting Bogle.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
