The husband and myself invest with Meesman on a monthly basis. We chose this broker because they offered Vanguard funds. According to a press release they switched from Vanguard to Northern Trust with their MSCI world index fund. It so happens that 80% of my portfolio with them consists of that fund. The other 20% are bonds.
Apparently, they have a very good reason to have made this switch. According to the article I can now ask Uncle Sam to return my dividend yields of about 0.4 to 0.5% per year. As TER is 0.5% per year (as was the case with Vanguard and is the case with Northern Trust) that would cover those costs. Meesman is able to achieve this dividend tax return because their fund is now officially a “Dutch” fund which makes use of Dutch tax treaties. Vanguard is legally based in Ireland, so that’s why they couldn’t do that before.
I guess I should be happy about the switch, then?
I don’t know anything about Northern Trust. I know quite a bit about Vanguard and Mr. Bogle, though.
What do you think?