Vanguard has evolved since the passing of founder John Bogle, maintaining its core mission. With a unique mutual ownership structure, Vanguard has become a leader in low-cost, high-quality investments, managing around $10 trillion globally. Despite some growing pains and criticisms, Vanguard’s focus on client interests remains strong under new CEO Salim Ramji.

The Vanguard experiment faces new challenges as it navigates its massive size. Recent actions include refocusing resources on high-impact projects, technology upgrades, and client experience improvements. Despite changes in leadership and initiatives like actively managed bond ETFs, Vanguard continues to prioritize fee cuts and client interests, signaling a commitment to its investor-first culture.

Read more at Morningstar: How the Fund Giant Is Navigating Rapid Growth