Vanguard CEO McNabb on Fees, Passive Management

The transcript discusses Vanguard's approach to reducing fees and its impact on the market. It covers Vanguard's cost strategy, future fee predictions, and the role of competition. The discussion also touches on Vanguard's business model, regulatory impacts, and the rise of robo-advisors. The trend of passive over active investing is highlighted, with insights into how technology is shaping the industry.

What is Vanguard's approach to reducing fees over time?

How has Vanguard's fee structure changed since its founding?

What is the significance of economies of scale in Vanguard's business model?

How does Vanguard view competition in terms of fee structures?

What challenges do traditional high-cost managers face in the current market?

How does Vanguard plan to maintain its competitive edge in the asset management industry?

What are the implications of the Department of Labor Fiduciary standard for investors?

In what ways does Vanguard ensure transparency for its investors?

What does Vanguard believe about the relationship between low fees and value for investors?

What role does technology play in Vanguard's service offerings?