Vanguard Australia has announced fee changes to its personal investor platform, which included the removal of the account fee for Vanguard exchange traded funds (ETFs), managed funds and the cash account from 18 August.
At the same time, Vanguard said a $9 brokerage fee would apply for trades of all listed investments including ETFs.
The firm said that the launch of the platform in April 2020 allowed it to closely observe investing behaviours amid a period of COVID-induced market volatility and these fee changes were being introduced as part of its ongoing commitment to keep costs low.
“Vanguard Personal Investor is not designed like a broking site which has a focus on trading. We want investors to be encouraged to think long term and take time to consider changes to a well-diversified portfolio,” Balaji Gopal, Vanguard’s head of Personal Investor, said.
“For this reason, when we built the platform we introduced it with features like a focus on portfolio value versus displaying short-term percentage performance movements, and two factor authentication requirements to execute trades.”