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Schwab Lowering Fees
Schwab Lowering Fees
In a letter to clients Walter Bettinger II, CEO of Schwab, announced the lowering of expense ratios in the Schwab Equity Index Funds. Schwab is looking to damper Fidelity�s marketing pitch of having the lowest cost S&P 500 Index Fund. Vanguard and Fidelity have been competing for this honor for years.
The biggest benefit of Schwab�s announcement may not be the fee cuts (miniscule differences in fees among the big players), but the fund minimums. Investors can start with as little as $100 in the Schwab S&P 500 Fund.
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