MiB: Tom Rampulla, Director of Financial Advisory Services at Vanguard

This week, we speak to Thomas Rampulla, Managing Director of Financial Advisory Services at Vanguard. The division provides investments, services, education and research to more than 1,000 financial advisory firms representing more than $3 trillion in assets. Rampulla has held various management positions at Vanguard since joining in 1988.

He discusses how before he interviewed with Vanguard Group, he didn’t know what they did (he thought it was a supermarket chain at first).

He explains how the vanguard effect works: the mutual ownership structure of firms means that their investors all own the firm; Any profits from the business are reinvested in the company to make it more efficient and effective. Instead of paying dividends to shareholders, it is more tax efficient to lower the fees on funds held by their investors aka owners. Vanguard is the mere threat of moving down the price of a space drive.

Jack Bogle also explains what it was like working with other legendary Vanguard CEOs.

Here is a list of his favorite books; A transcript of our conversation is available here later this week.

You can stream and download our entire conversation with podcast extras on iTunes, Spotify, Stitcher, Google, YouTube, Bloomberg and Acast. All our previous podcasts on your favorite podcast host can be found here.

Be sure to check out our Masters in Business next week with Marta Norton, Chief Investment Officer at Morningstar Investment Management. The firm directly manages or advises $249.4B in client funds. He began his career as a BLS economist, and prior to his current role, he was head of US outcomes-based strategies for Morningstar.

Tom Rampulla’s favorite book

Retail Gangster: The Insane, the real-life story of Crazy Eddie By Gary Weiss

Bonfire of vanities by Tom Wolfe

poker of lies By Michael Lewis

A Random Walk Down Wall Street: Time-Tested Strategies for Successful Investing By Burton Malkiel

Winning the Losing Game: Timeless Strategies for Successful Investing, Eighth Edition By Charles Ellis

Barry mentions the book

Trillions: How a Band of Wall Street Renegades Invented Index Funds and Changed Finance Forever By Robin Wigglesworth

The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions By Eric Balchunas

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