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Vanguard Lets Big Retail Investors Become Admirals

New share class offers discounts to long-term investors.

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In an effort to attract and retain wealthy clients and promote long-term investing, The Vanguard Group plans to give its biggest and most loyal retail investors the chance to become admirals.

Those who opt for the promotion won't get epaulets or medals, but they will get discounted expense ratios on what are already the cheapest mutual funds in the business.

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Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.