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Old 10-06-2010, 02:30 PM   #21
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There goes the neighborhood.
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Old 10-06-2010, 02:39 PM   #22
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Originally Posted by samclem View Post
- Re-affirm their position as the low-cost provider of MFs (against increasing competition from FIDOs Spartan funds)?
I imagine this is a big part of it. Taking away one of Fidelity's few competitive advantages when it comes to low cost index funds. The Spartan minimums being $10,000 probably drove Vanguard to lower theirs to $10,000.

For $100,000 at fidelity, you could buy up to the spartan Advantage class with even lower ER's than the regular Spartan funds at fidelity.
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Old 10-06-2010, 02:45 PM   #23
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{insert infomercial jingle}

"I no longer have to bring my money to Vanguard to achieve Admiral status, they brought Admiral status to ME! Vanguard, you rule."

{end jingle}



-CC
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Old 10-06-2010, 02:45 PM   #24
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There goes the neighborhood.
Really! Now what can I brag about?
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Old 10-06-2010, 02:47 PM   #25
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Really! Now what can I brag about?
Institutional fund owner. Price tag: $1 million.
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Old 10-06-2010, 02:52 PM   #26
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Really! Now what can I brag about?
Your "flagship" status?
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Old 10-06-2010, 03:55 PM   #27
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Your "flagship" status?
Can't even do that 'cause I'm split between Fido and Vanguard.
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Old 10-06-2010, 06:53 PM   #28
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I just converted five funds to Admiral . Thanks !
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Old 10-06-2010, 07:32 PM   #29
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Interesting, DW has a >50K Wellington holding in her 403(b) at Vanguard and that doesn't show up as convertible. I'll have to call them up and ask about this.

This comes at a good time, since I was going to convert some my investor class funds to ETFs. Now I don't have to deal with setting up a brokerage account just to get the 10 basis point gain.

Vanguard was already pretty low cost, so I don't think this was a very expensive move for Vanguard to make to compete with Schwab/Fidelity. Worse cast, lets say you had a 99K Investor share account and converted to Admiral. Most of the Admiral funds are about 10 basis points cheaper than the Investor class. So essentially, that fund is only going to cost about $99 less per year. Nothing to sneeze at if you have a bunch of funds, but not a whole lot of money when viewed in the context of the "retention" bonus to prevent people from switching to other providers.
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Old 10-06-2010, 10:44 PM   #30
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Interesting, DW has a >50K Wellington holding in her 403(b) at Vanguard and that doesn't show up as convertible. I'll have to call them up and ask about this.
From Vanguard's website:

Quote:
Certain retirement accounts that offer special administrative services, such as SIMPLE IRAs, 403(b)(7), individual 401(k), individual Roth 401(k), qualified profit-sharing, and money purchase pension plans, may be ineligible for Admiral Shares
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Old 10-06-2010, 10:56 PM   #31
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From Vanguard's website:
Looks like that applies to Education IRAs also.
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Old 10-07-2010, 12:38 AM   #32
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Thank you! 2 of mine, too!
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Old 10-07-2010, 05:58 AM   #33
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TY TY TY
I just converted 3 of my VG funds.
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Old 10-07-2010, 08:03 AM   #34
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Vanguard was already pretty low cost, so I don't think this was a very expensive move for Vanguard to make to compete with Schwab/Fidelity. Worse cast, lets say you had a 99K Investor share account and converted to Admiral. Most of the Admiral funds are about 10 basis points cheaper than the Investor class. So essentially, that fund is only going to cost about $99 less per year. Nothing to sneeze at if you have a bunch of funds, but not a whole lot of money when viewed in the context of the "retention" bonus to prevent people from switching to other providers.
This is probably Vanguard making a smart move at a good time. Their expense ratios had crept up in the 2008-2009 crash. Expenses (the numerator in the expense ratio) remain relatively constant, and the fund assets (the denominator) had decreased sharply. Now, the denominator has partially recovered. They can probably rejigger the thresholds for Admiral status and not influence the ER's on the Investor class a lot versus where they were a year ago.

This move seems entirely consistent with VG trying to have fees aligned with expenses. Small accounts (under $10k) cost more to manage per dollar of AUM.
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Old 10-07-2010, 09:20 AM   #35
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And in a related VG cost cutting measure I just exercised a $2 stock transaction!!

Sweet.

t.r.
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Old 10-07-2010, 09:27 AM   #36
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Looks like the navy suddenly has a lot more admirals - welcome aboard!
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Old 10-07-2010, 09:31 AM   #37
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Looks like the navy suddenly has a lot more admirals - welcome aboard!
Now that all it takes is being a ten-thousandaire, this club doesn't feel so exclusive...
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Old 10-07-2010, 10:13 AM   #38
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This is going to confuse Quicken.
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Old 10-07-2010, 10:51 AM   #39
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OK.... just and an FYI... there is a limit of 25 funds...

Now, I was told that I had reached that limit... but they looked and that includes my taxable accounts, my Roth, and my regular IRA... I mentioned that a good number of the accounts have zero balance (just checked... 11 with zero balance) as I converted to Admiral... and also converted from regular to ROTH...

They are going to split the accounts into their components so I can get this last one done...


I also agree that the $2 trade is sweet.... as long as you do not go penny stock.... I put one in and the commission was $170... did not do it...
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Old 10-07-2010, 12:00 PM   #40
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I just converted two more funds. Thanks for the tip!
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