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Vanguard is not a corporation. It is structured as a mutual company; it is owned by funds managed by the company, and is therefore owned by its customers. See:
by rfinney 8y ago
Vanguard is not a corporation. It is structured as a mutual company; it is owned by funds managed by the company, and is therefore owned by its customers.
See: https://en.wikipedia.org/wiki/The_Vanguard_Group https://en.wikipedia.org/wiki/The_Vanguard_Group
- icedchai 8y agoVanguard has many pieces and parts, many of which are, indeed, corporations. It says so on the bottom of its website: "Vanguard funds not held in a brokerage account are held by The Vanguard Group, Inc., and are not protected by SIPC. Brokerage assets are held by Vanguard Brokerage Services, a division of Vanguard Marketing Corporation, member FINRA and SIPC." Regardless of its legal structure, I meant "megacorp" in the generic sense of "large company." It is a large company.
- rfinney 8y agogood point. Vanguard has a pretty good reputation regardless of it's company structure. I'm not so trusting of some other financial firms.