Vanguard’s Brennan Says ETFs Empowering Financial Advisors
February 11th 2013 at 3:16pm by Tom Lydon
I’m here in Hollywood, Florida for the IndexUniverse Inside ETFs conference and one of the highlights so far was Vanguard Group’s Chairman Emeritus Jack Brennan talking about how the low-cost financial products are making it a great time to be an advisor.
Other featured speakers at the conference include James Grant, Ric Edelman and Dennis Gartman.
AdvisorOne has a great write-up of Brennan’s talk Monday on ETFs and the future of the financial advisory business.
He said now is “the best time ever” to be a financial advisor, and ETFs are one of the big reasons, according to the report.
“Using products like ETFs, which take so much of the mechanics of investing out of your hands, allow you [time] to build your business,” Brennan said. “This is one of the few great and disruptive products in the investment industry.”
The Vanguard chairman emeritus touched on all the features that advisors like about ETFs: tax efficiency, diversification and low fees.
“For 19 basis points, you get the Harvard endowment,” he said, AdvisorOne reports. He predicted the U.S. ETF business will hit $2 billion “in the blink of an eye.”
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