<prompt> Human: I see recommendations of Vanguard just about everywhere on this subreddit. Why does everyone here seem to be so in love with it?  <response>: Every organization is owned by somebody. For most investment firms, the owner is either a small group of individuals and companies, or a large group of public stockholders.An investment firm with such an ownership structure has two conflicting interests. First, it wants to provide the best possible product for its customers, which means great choices, low fees, good advice, etc. Second, it wants to provide the maximum profit for its owners, which means high fees, etc.Vanguard is owned by its funds, which in turn are owned by their investors. Everyone who has an account is an owner, and no one else. Therefore, there is no conflict of interest. Vanguards owners want great choices and low fees, and so thats what Vanguard provides.Other investment firms will occasionally offer some products which are cost-competitive with Vanguard e.g. Fidelity Spartan, but only Vanguard is structurally designed to provide the best possible product at the lowest cost for its customer-owners. 