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Additionally, Vanguard's estimated annual revenues stand at approximately $7.5 billion, a figure derived from analyzing fees in relation to the assets under management. Though this figure is respectable, it pales in comparison to Fidelity and Schwab, marking a substantial revenue gap largely attributable to Vanguard's low-cost business model.
Recent Management Changes and Future Directions
In February 2024, Vanguard CEO Tim Buckley announced his retirement after 33 years with the firm, a significant shakeup in the firm’s leadership that spurred concerns about future direction. Notably, Vanguard did not appoint a successor promptly, which is uncommon in corporate practice, further compounding uncertainties among stakeholders.