Vanguard has amassed nearly $7 billion in assets under management since jumping into the small-business retirement plan business and it’s looking for more.
That’s according to Vanguard CEO F. William McNabb III, who recently spoke with journalists in London about the company’s latest plans for that segment of the market.
“Market forces haven’t worked that clearly” for small-business plans, which are still paying higher fees than larger plans, he told the Wall Street Journal. But that could be about to change, with McNabb noting, “We’ve entered the small-plan market very aggressively.”
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