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> The idea of opening another bank or broker, despite how simple it is

I would wager that there are a lot of people that have money in Vanguard because Vanguard provides their employer's 401k, and their choice was "Vanguard or no 401k", not "Vanguard or something else of your choice".

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Vanguard is a good choice for managing retirement funds. If you want to speculate on high-risk investments, whether doctoms or crypto or whatever, it's better to do it outside your 401k.

yeah but the point is that the brand recognition is what occurred and they moved additional money in taxable accounts there

If you lack the agency to open a brokerage account you really shouldn't get into crypto.

nah it just means they'll be buying bitcoin at $500,000 instead of $100,000 when their brokerage firm has a way for them to get exposure

And then they'll sell in the next crash, losing 50% or more.

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