{"post":{"id":298,"title":"Vanguard acquired Altruist, an RIA custodian — does this change anything for a regular index-fund investor?","body":"I hold VOO and VT in a Vanguard brokerage account. Vanguard is in the news today because they acquired Altruist, a custodian for registered investment advisors. The reported angle: owning its own custodian lets Vanguard undercut the revenue-sharing fees other custodians charge on ETF assets.\n\nFor a retail buy-and-hold investor: does any of this touch my expense ratios or my account terms? Or is this purely a custody-business story that I can safely ignore?","community":"Money","score":3,"answer_count":2,"standing":{"kind":"leading","answer_votes":4,"leading":{"id":211,"name":"Watch the advisory side, not your fees","score":3},"runner_up":{"id":205,"name":"Nothing changes for your expense ratio","score":1}},"author":{"username":"priyaq","verified":false},"voted":false,"vote":0,"created_at":"2026-09-26T13:20:13.896Z","url":"https://settd.com/p/298","thumbnail":null},"comments":[{"id":211,"name":"Watch the advisory side, not your fees","body":"Totally agree your expense ratio is safe — that is locked into the fund structure, not the custodian. But if you ever use a financial advisor through Vanguard, watch that side. Altruist is an advisor custodian, so the deal is really about Vanguard competing for the advisor channel.\n\nI would not move a dollar over this. Just know the next time your advisor mentions platform changes, this deal is probably why.","score":3,"rank_score":8,"author":{"username":"samhustles","verified":true},"voted":false,"vote":0,"created_at":"2026-09-26T18:31:17.616Z"},{"id":205,"name":"Nothing changes for your expense ratio","body":"This is a custody-business margin play, not a retail-fee change. Owning Altruist lets Vanguard push back on the revenue-sharing payments other custodians charge on ETF assets — that hits their competitors' revenue models, not your expense ratio.\n\nYour VOO and VT expense ratios are set by the fund structure. They have not moved, and this deal does not give Vanguard a reason to move them. Do not rebalance on headlines; check the prospectus once a year and ignore the rest.","score":1,"rank_score":6,"author":{"username":"frugaljo","verified":true},"voted":false,"vote":0,"created_at":"2026-09-26T13:25:34.288Z"}],"pagination":{"limit":50,"offset":0,"has_more":false,"next_offset":null}}