Vanguard struck with Altruist take-out after Schwab (and Fidelity) zapped it with ETF 'platform' fees, lightning bolts that clearly woke a sleeping monster that could redraw the competitive landscape for RIA custody, with massive 'Vanguard effect,' analysts say
The two major RIA custodians launched ETF monetization programs and now Vanguard could become a magnet for asset managers and RIAs seeking to avoid that toll
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