Is your Vanguard Wellington fund’s outlook OK? In a word, yes. But before we get into my favorite balanced fund, let’s remember it’s not managed by Vanguard. It’s managed by Wellington Management up in Boston, the home base of my favored Johnson family’s Fidelity Investments and the epicenter of old-monied firms like Brown Brothers Harriman.
My father-in-law Dick Young would call on Wellington during his days in Boston. And remember, Vanguard founder Jack Bogle was a Wellington Management guy. The money management business has deep Boston roots.
As an aside, it’s my belief that Bogle’s mistreatment by Vanguard began when he was put out to pasture at the annex at the company’s Malvern, PA, headquarters campus. The founder of the company literally stationed a building away from the C-suite. The writing was on the wall as Vanguard was becoming too big, hence my current-day concerns.
But the good news is that you can have your cake and eat it, too. You can keep your Vanguard Wellington fund and transfer it to my favored greener pastures at Fidelity Investments.
Consolidating your assets without selling, or an in-kind transfer to Fidelity, is like going grocery shopping for your consumer staples. You can get them anywhere, but the customer experience will differ from one store to another. It’s why I like the gold standard custodianship at Fidelity for your money.
Action Line: Let’s talk about moving your investments to Fidelity and building a balanced portfolio with a plan for the long-term. When you’re ready, I’m here. In the meantime, please click here to subscribe to my free monthly Survive & Thrive letter.
Read the entire series here.
