[MUSIC PLAYING] MILES: My team focuses on trading strategy to really make sure that we’re buying and selling stocks and other asset classes at the best possible prices we can do for our customers. So we operate in stock markets where there’s millions of other investors trading.
And we try to figure out the best way where we can say, buy a stock for a few pennies or a few nickels cheaper than what we would have done otherwise. And that really adds up to increasing returns for our clients.
I’d say the thing that’s most surprising to me is really the clarity of focus on clients. The meetings I’ve been in where Vanguard could make a little extra money by doing something one way, but the senior people in the room will say, well, what’s best for the client? We don’t care about if Vanguard can make a little extra money if it’s not in the interest of the client. So clarity of focus on the client has been the single most surprising thing for me.
I’m really excited about continuing to reduce costs for investors, to really build new products, give them better advice on how to invest– just helping them continue to achieve their investment outcomes. I mean, you see in the news all the time that there is maybe some sort of retirement crisis in this country or people aren’t going to have enough saved for retirement. Vanguard is really continuing to try to push investors’ interest forwards, to make sure that they are prepared for all the financial goals that they had in their life.