I don't get it, FD, and here's what I think the others are asking.Quite honestly, Vanguard has been weak on this issue........I got some calls a year ago asking me to do ETF business with Vanguard, but their support is terrible.
If you're a qualified financial advisor then my impression is that you should already have a pretty powerful toolbox at your disposal. Yet you're complaining that Vanguard is of no use to you because they don't give you any tools. I agree with your assessment of Vanguard, but why do you need their tools to do their job? Don't you already have tools of your own?
If you already have your own tools, it would seem to benefit you to invest your client's money in the lowest-overhead investments (in accordance with the IPS you've crafted for them) to give yourself the biggest margins you can find. Conversely you could offer your clients a "rock-bottom" fee with Vanguard ETFs or a slightly higher fee with anyone else, and let them choose.
What about your clients who happen to be eligible to invest in the TSP, with even less service than Vanguard and only a 0.03% ER? Do you tell them that you can't use the TSP in their portfolio?
I thought much of Vanguard's ETF offerings were based on the same indexing skills that Gus Sauter has applied to their mutual funds. Or else they're making up their ETFs from other agency's indexes, both of which would imply some quantitative screens. So I don't understand this comment, and perhaps it's not that simple after all.If you want an ETF that uses quantitative screens in it's process, then I can't use Vanguard....it's that simple...............
I'm no fan of Vanguard myself, FinanceDude, but your treatment of the poster's questions-- to say nothing of the posters-- makes me feel sympathetic toward Vanguard's attempts to educate financial advisors. Maybe they're really trying to tell you that you're paying too much for fancy tools.You seem to be dodging the question and if this is too personal or confidential, just say so, no problem.
The way you've treated this thread should have the posters in an uproar over your restriction of free speech, your lack of knowledge of how the moderator features affect the users, and your persistent gibes & jokes instead of straight answers. You posted the article but you don't seem to be willing to handle the discussion you evoked with it.
You screwed up by closing the thread. You seem reluctant to admit that, although I appreciate that much goes on behind the scenes that posters do not see. IMO your flip answers and your precipitate action, followed by your lack of appreciation for treating the posters you used to be a part of, and perhaps only acting before the other moderators take action in your place, does not improve your credibility as a financial advisor or as a moderator.
And yes, I had to check: vBulletin has informed me "Sorry FinanceDude is a moderator/admin and you are not allowed to ignore him or her."