Jared Dillian, Columnist

Vanguard's Irritating Perch on the Moral High Ground

If being a “nonprofit” is so good in the asset management industry, then why don’t we see it elsewhere?

May 23, 2017 at 12:30 PM UTC

Jared Dillian is the editor and publisher of the Daily Dirtnap. An investment strategist at Mauldin Economics, he is author of "All the Evil of This World." He may have a stake in the areas he writes about.

Maybe asset management as a nonprofit works.
Photographer: Peter Foley

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The folks at Wealthfront posted an entry on their blog a while back about why they were going to use Vanguard’s exchange-traded funds going forward rather than those offered by BlackRock. As you may know, Wealthfront is a “robo-advisor” that uses algorithms to diversify the money it manages for people across a number of ETFs. Wealthfront is not large, but it has the potential be large someday, so whose ETFs they use is a matter of some importance.

Here is the relevant section: