Yes, I have made these comparisons and was using Vanguard as an example for the purposes of this discussion. There are many many funds out there.
The best strategy of course is for the retail customer to take charge of his own financial world. Pay a fee for advice when/if needed/wanted.
Many people, even some with substantial means, have no sophistication when it comes to financial transactions and I have sat in on discussions between such individuals and the thieves managing their trusts. Sorrowful.
I stand by my statement that any time a FA convinces a client to buy a product that gives him a commission there is a conflict of interest. Unfortunately it is "standard operating procedure" for the FA industry, as are all the other BS items that are in place only to generate income for the trade.
The trust/wealth management departments of large banks are among the worst offenders and they manage to spread legal crumbs among the local attorneys so that none of them will litigate.
What a sorry lot.
