Hey, James, good to see you. We have a fun episode today where we are going over Vanguard's

advisor Alpha study.

This is another episode of Ready for Retirement. I'm your host, James Cannell, and I'm here

to teach you how to get the most of the life with your money. And now, on to the episode.

And many of you listening slash watching right now, you've heard of Vanguard, but you may not have

heard of the Vanguard Advisor Alpha study. How many people, if you had to guess, James, do you

think of heard of this study?

People listen to this podcast are pretty well informed. I'm going to say 40%. If I had to guess, I'd say 20%. But I think a lot of you

are really smart. And so you manage your money well. Many of you have an advisor and you still watch

slash listen to our content. But we want to go deeper and show you and give you our insight as to why

Vanguard release this study because they

discuss when it makes sense to work with an advisor and when it does not make sense to work

with an advisor. Where would you like to start with this one? Let's talk about what alpha is.

What on earth is this alpha? What is that? Alphabet, alpha what? The alpha is just essentially

in an investment world, kind of like outperformance. And not just from an investment standpoint, but what is the value added? So as you're

looking at that, Vanguard, who we all know of is a low-cost provider, Vanguard's probably done more

for this industry for people personally in terms of their finances, maybe than any other company.

So Vanguard's incredible. And they just allow for these

really low-cost solutions to be available to the mass public, which is awesome. But what they're

saying is, look, there's alpha here. There's potential to do better here with an advisor. And now,

obviously, you and I are advisors. We work with advisors. And so, yes, we have a dog in the fight here. And so our bias is going to

come out, sure, but we're going to try to look at this objectively to say, what do we agree with

...