I've been watching with some amusement the furious opposition of "wealth managers" to the incoming fiduciary duty rule- where they will become required by law t

I've been watching with some amusement the furious opposition of "wealth managers" to the incoming fiduciary duty rule- where they will become required by law to do what is in the best interest of their client. Which, in most cases, will mean putting everything in Vanguard instead of high-fee funds with kickbacks. A bunch of them are saying they will have to close up shop once the rule goes into effect. If that's true, to me it seems tantamount to admitting that the only way they can stay in business is by fleecing their customers. So, no, I'm not upset about Vanguard's claim to the moral high ground at all. They really are better than the various scum and villainy in the wealth management industry, and the schadenfreude of watching the latter get squeezed out of existence by index funds and algorithmic traders is wonderful.