Yet another media outlet has picked up on last week's news that
Vanguard [
see profile] has dislodged
Fidelity as the largest fund firm by assets. On Tuesday,
USA Today's John Waggoner
see profile] reported on the
Investment Company Institute's
numbers and turned to
Dan Wiener, editor of the
Independent Adviser for Vanguard Investors, for perspective
on Vanguard's feat.
The paper notes Vanguard's flourishing exchange-traded fund business and on the mutual fund side, the pub notes that Vanguard's competitors have stumbled, pointing to the subpar performance of
Fidelity Diversified Interntional,
Fidelity Magellan and
Fidelity Equity Income.
As for
American Funds [
see profile], Wiener points out that while the funds remain strong performers, the funds are broker sold and investors are exploring other ways of obtaining advice. 
Edited by:
Armie Margaret Lee
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