money.usnews.com
The retail brokerage business in the U.S. has become entirely a game about scale: It’s dominated by a handful of very large firms that have devoted themselves to delivering services cheaply. Zero-commission trades are common. Exchange-traded funds, or ETFs, and even index mutual funds with 0% expense ratios are easy to find.The largest brokerage by assets under management, or AUM, is Vanguard, started by famed investor John C. Bogle in 1975. The firm has grown to manage $8.6 trillion in assets,…
about 1 year ago