Agghhh!! I called Vanguard about the transition of my mutual fund accounts to the brokerage platform. The existing accounts I have are in the solid six-figures and I have been with Vanguard since 1992. The guy answered some general questions. He then told me that the account would be charged an annual fee of $31. What? Then he revised to $20 per year. Really?
I know it sounds cheap and petty but why should I pay $20 per year to have what I currently have for $0.
I will not be transitioning my mutual funds.
Maybe this is what is going on? Your Admiralty class shares of Vanguard funds are very inexpensive, however the ETF fund management fees are even lower. If you don't change you may not pay the $20 but you'll pay considerably more than that in the higher internal fees in the Admiralty funds you hold. They are trying to save you money, if you let them. However I am not sure about the $20 fee. I switched seven figures worth of Admiralty funds to ETF's with Vanguard and I haven't seen a fee like that nor did my Vanguard adviser mention it.