For years I have used Vanguard Mutual Funds and ETF’s to build investment models and have used Vanguard’s models for our clients. How does Vanguard pay back Advisors? My clients showed me Direct Mailers from Vanguard Advisor Services advertising their own Vanguard Advisors to our clients. Our clients were confused and asked us if this was something we sent or what they need to do with it. I had to spend time explaining what it was. Very dissappointed in Vanguard’s new model to poach our clients. I’m one small business, but I will be looking for elsewhere to replace Vanguard in the future.