On May 1, 1975, a former fundster chief quietly made investing history, even as a federal regulator loudly did so. Yesterday (May 1, 2025) was the 50th anniversary of both events, and the birth of a new holiday.

Salim Ramji Vanguard CEO, Board Member

Yesterday was the 50th birthday of the Vanguard Group, the Low-Cost Leviathan based in Malvern, Pennsylvania. Salim Ramji, the current (and 5th) CEO of Vanguard, highlighted the milestone. He notes that, while the late Jack Bogle's experiment "did not take off right away," Vanguard has grown dramatically in the subsequent decades and now serves more than 50 million investors. It has become the largest mutual fund company in the world, by AUM.

As of December 31, 2024, Vanguard had a crew of about 20,000 people around the world. As of March 31, 2025, they offer 440 funds worldwide (including 215 in the U.S.).

Per Bogle's philosophy "that in investing, you get what you don't pay for," Ramji underscores the fund firm's continuing "relentless focus on fees." On an asset-weighted basis, Vanguard investors pay an average of 7 basis points.

Meanwhile, yesterday was also the 50th anniversary of the day when the U.S. Securities and Exchange Commission (SEC) eliminated fixed trading commissions. Like the multi-decade, downward push on asset-based fees by Vanguard and other low-cost fund firms, that milestone has, over time, dramatically reduced investor costs, to the point now where individual investors can often trade stocks or ETFs at no commission at all. Rick Wurster, president and CEO of the Charles Schwab Corporation, highlighted the milestone and notes that the company's eponymous founder, Chuck Schwab, kicked off the new trading era in 1975 by lowering commissions, instead of raising them.

In recognition of this anniversary, Wurster revealed the creation of National Investing Day, a new holiday to be celebrated annually on May 1.

"At Schwab we believe that investing is a purposeful act of optimism," Wurster states. "Our goal in launching National Investing Day is to inspire more people to learn about investing and see themselves as investors through all market cycles." 

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