David Rosenthal: belief

Transcript context

…And it's, to your point, the lowest—I think they charge somewhere from 5 to 30 basis points for this service. They now have over 1,000 CFPs on staff. This is a completely different business line that is sort of predicated on the same model of what if we don't have any shareholders that we need to serve? What if the only stakeholder is our customer? And the customer doesn't just have to be people invested in the funds, it can also be people that are in a related but different business, which is they need investment advice for structuring their personal finances. And often it's the same customers. It's, you know, Vanguard clients who are using Vanguard funds in their retirement accounts or college saving funds and, yeah, need advice about how best to structure that. Yep. So in January 2019, Jack passes away at age 89 after just one of the most incredible lives, I think, of the 20th century into the 21st century. Yeah, American hero. He enabled more Americans to participate in the fruits of capitalism in a way that sort of dips only into the best parts of capitalism and leaves all the unsavory parts behind. I mean, it's this beautiful communal, fair way to participate in the rising tide.…

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