Some financial advisors are expressing frustration with the pace of Vanguard's fund launches, according to the Wall Street Journal
The Vanguard Group
] has filed papers with the U.S. Securities and Exchange Commission over the past couple of years to announce a half-dozen new bond index funds and ETFs, according to Daniel Wiener, editor of an independent newsletter that tracks Vanguard and who was cited in the article.
Wiener says that investors are still waiting for many of these new funds.
The delays are significant, the article says, because ETF competitor BlackRock
] is "apparently re-engaging in the market-share battle" in these products.
Meanwhile, some advisors have apparently grown tired of waiting for the new issues.
For example, the Wall Street Journal
quotes advisor Greg Plechner, a principal at Modera Wealth Management LLC
, a Westwood, N.J., wealth manager that oversees more than $1 billion in assets, who said he was interested in Vanguard's short-term TIPS and hedged foreign bond funds, but grew tired of waiting.
"We've settled on some competitors of theirs," Plechner says in the WSJ article. "They've lost credibility in their product rollouts. They still have a lot of credibility, but until their funds are approved, we're not going to wait for them; that's our new perspective."
The article can be read on the Wall Street Journal website
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