Sales & Marketing | 05.08.24

Vanguard Intros Fees for Smaller Clients on Brokerage Platform

by: Alyson Velati

Vanguard is adding fees across its brokerage service for clients with a smaller pool of assets starting July 1. The company is adding a charge of $25 for customers with less than $1 million who want to make trades over the phone, according to an updated commission and fee schedule filing from Vanguard Brokerage Services, which applies to all Vanguard mutual funds and exchange-traded funds (ETFs), along with mutual funds and ETFs from other companies. Vanguard will also begin charging clients $100 to close or transfer accounts if they have less than $5 million. "Vanguard is committed to helping clients navigate toward secure, simpler and more seamless digital pathways, and constantly evaluates our brokerage services and products, inclusive of the commissions and fee schedule," a Vanguard spokesperson stated. "Investors can continue to trade Vanguard mutual funds and ETFs commission-free online."

Read the full article on Financial Advisor IQ