Vanguard and anti-abortion protesters

I was in Parkersburg's largest bank today to meet with someone regarding my dad's trust. I could hear the man in the conference room next to me asking for help investing money.

I had this sudden vision of anti-abortion protesters trying to get women to not enter the clinic. I thought how Vanguard should station people outside banks to try to get people not to give their money to banks.

My dad set up a trust for my mom. The fees on it are out of this world. Twenty percent of the portfolio is in alternatives--e.g. managed futures and long-short portfolios--with expense ratios in the 2% to 4% range. The average expense ratio on a Vanguard portfolio in the trust department is 0.11%.

No doubt there was someone at the bank that my dad trusted. Enough to pay that bank 1.1% on top of the investment fees. It's a great business for the banks.

This same bank charges $3.50 to use the ATM (for nonbank customers). I went to a bank next door that charged $2. Then I went to the credit union--$1.50--and I withdrew some cash.
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