Zero Management Fees? They’re Already Here

Say goodbye to 2-20 and help to zero management fees In February, passive investing powerhouse Vanguard cut the expense ratios on 68 mutual fund and exchange-traded fund shares across its platform for the third time in three months. According to Barron’s, the total estimates savings from these cost cutting actions was $143 million across 124 fund shares over three months. It didn’t take long for competitors to follow suit. Last month Fidelity decided it was going to try and match Vanguard by cutting the management fees on some on 14 of its 20 passive products taking the average management fee across…