Friday, 5 May 2017

Vanguard CEO cites ‘inherent conflict’ in paying brokerages to sell funds

Vanguard Group CEO Bill McNabb said on Thursday that Morgan Stanley had decided to stop selling its mutual funds because the largest U.S. brokerage by salesforce wants “to be compensated for being on their platform in one way or another, and that’s something we just won’t do.” McNabb told CNBC that paying fees to brokerages to

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