The Vanguard Group, Inc.

Vanguard is one of the world's largest investment management companies and the largest mutual-fund company in the U.S. 
 
It is one of the "Big Three" asset management firms, along with BlackRock and State Street. Vanguard Group is the second-biggest exchange-traded fund issuer, after BlackRock's iShares. 
Vanguard surpassed $7 trillion in assets under management in 2020. 
Vanguard has traditionally steered clear of commodity investing, which its founder John Bogle dismissed as "total speculation." Nearly half a century later, Vanguard has just one commodity fund out of more than 400 offered globally.
Vanguard keeps its financial performance private. Unlike many of its competitors, the company is owned by its funds, which it says helps it pass profits onto shareholders in the form of cheaper fees. 
Vanguard is thus far the only asset manager permitted by the SEC to operate the “ETF-as-a-share class” model that it patented, even though that patent has now expired. In this model, an ETF and a mutual fund can operate as separate classes of an overall fund and Vanguard “allows mutual fund share class owners to convert into VOO (the Vanguard S&P 500 ETF),” a trade incentivized by the mutual fund arm being slightly more expensive, at 4bp.
== History ==
Founder John C. Bogle created Vanguard Group Inc. in 1975 under an unusual company philosophy: The mutual fund owns the management company and shareholders pay only operation costs for the fund. The Vanguard Index 500 Fund opened a year later with $11 million in assets. 
Bogle founded the company on a bedrock of investing in stocks and bonds, which generate cash flow, dividends and interest payments. In 1982, Vanguard began offering retirement planning services, and in 1990 the company went international. The company began offering tax-advantaged 529 college-savings plans in 1998.
F. William McNabb III was appointed CEO in 2008 and chairman of the board in 2010.
In early 2024, when its industry peers all launched spot Bitcoin ETFs, Vanguard abstained from offering the instruments and pulled its futures-backed Bitcoin funds from its platform as well, leaving Vanguard offering no crypto products whatsoever.
On November 1, 2024, Vanguard supplanted its rival BlackRock, the world’s largest asset manager, as manager of the second-largest exchange traded fund in the world, when Vanguard’s S&P 500 ETF (VOO) reported assets of $540.76bn at market close, marginally ahead of BlackRock’s iShares Core S&P 500 ETF (IVV) with $540.66bn.
== Products and Services ==
Personal Investors
*Mutual funds, exchange-traded funds (ETFs), individual stocks and bonds, and access to non-Vanguard funds
*Flagship® and Voyager® Services
*Advice and financial planning services
*Retirement planning
*College savings options, including 529 plans.
Institutional Investors
*Investment management
*Comprehensive advisory services
*Administrative and recordkeeping services
*Retirement plan consulting
*Education
*Research and commentary
Financial Advisors
*ETFs and mutual funds
*Fund managers
*Investment education
*Research and commentary
== Key People ==
*Salim Ramji, Chief Executive Officer
*Greg Davis, President, Chief Investment Officer
*Matthew Benchener, Managing Director, Personal Investor
*Amma Boateng, Managing Director, Financial Advisor Services Division 
*Joseph Brennan, Managing Director, Global Chief Risk Officer
*Jon Couture, Managing Director, Human Resources, Chief Human Resources Officer
*John James, Managing Director, Workplace & Advisor Solutions Group
*Chris McIsaac, Managing Director, International Division
*Tonya Robinson, General Counsel, Secretary Vanguard Funds
*Michael Rollings, Managing Director, Finance Division, Chief Financial Officer 
*Joanna Rotenberg, Managing Director, Advice & Wealth Management Division
*Nitin Tandon, Managing Director, Information Technology Division, Chief Information Officer
*Lauren Valente, Managing Director, Institutional Investor Group
== References ==
Category:Investment Company
Category:Investments
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