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Vanguard: Cost of Advice Could Fall Further

CEO Tim Buckley expects Personal Advisory Services' fees to decline as the business grows.

Note: This video is the sixth of a six-part interview between Morningstar director of personal finance Christine Benz and Vanguard president and CEO Tim Buckley.

Christine Benz: I'd like to talk about the personal advisory services, as you call them PAS here at Vanguard. These are the advisors who are available for 30 basis points to investors. Let's talk about the growth in that area, what Vanguard has needed to do to staff up to meet that demand. I'd also like to talk about whether Vanguard, at what scale would that service need to be to actually reduce that 30-basis-points fee.