'Clued up' advisers driving low-cost Vanguard's growth

Vanguard saw record asset growth for a fourth successive year in 2015 as investors increasingly entrusted the firm with new money, according to the reports. By comparison, more expensive rivals faced a difficult time last year, with many reporting significant net outflows of cash. Vanguard keeps its fees low by favouring cheaper, passive investment products and strategies that track markets, rather than more costly active management. Dan Farrow, director of advice firm SBN Wealth Management, said Vanguard's strong results reflect an adviser industry that is more "clued up" on the m...