Nally, on the other hand, disagreed with the assessment that all feedback has been negative, but he did acknowledge some feedback that led to the decision to extend the trading period for Vanguard and iShares ETFs for free by 90 days.
“We’ve been listening to advisers throughout last week,” Nally told InvestmentNews. “Michael is just one voice. We like feedback on both sides.”
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The changes also come with some benefits, Nally argued. For example, the additional State street SPDR ETFs that have been added to the no-transaction-fee platform will be a net benefit to help cut down on investment costs.
“These are the lowest-cost broad-index-tracking ETFs,” Nally said. “The domestic funds are 18% cheaper than Vanguard’s and on the international front, they are 33% cheaper than Vanguard, which we think will be attractive to advisers and their clients.”
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