Vanguard takes first step to democratize private investments with 'soft' launch of branded funds – so soft Merrill Lynch and BoA private bankers get exclusive rights to sell them – RIAs are cut out, for now
The 'RIA community' may still get a crack at the Wellington-Vanguard-Blackstone funds at some future date, the release hints, but the exclusive arrangement will hold for indefinite future.
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