Jason Kephart at InvestmentNews
has come to the conclusion
] is winning a mano-a-mano fight with Capital Group's
] American Funds
The story is not pegged to any current news event per se — rather, it is part of InvestmentNews'
self-celebratory 15th anniversary shindig.
Kephart takes a long, slow journey through the journey of the two firms. If you lived, through it, you already know what happened. If not, read the original story here
As usual, no executive from Capital Group makes an appearance in the story.
As is his wont, Bill McNabb
takes the chance to throw a jab at the rest of the industry.
"There's a lot of room to go here,” McNabb said. "This message of low-cost investing really works. We're in the early innings of this."
McNabb also said something that may catch Jack Bogle's attention: Vanguard's top execs now think advisors are important.
"The single biggest value-add an adviser can offer is steely professional discipline," he said. "Behavior finance guys will tell you all day that people act irrationally. Advisers can serve clients very well by just keeping them disciplined."
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