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If I set up an IRA through Scottrade, or any other discount broker, then I the fees that Vanguard charges won't apply to me? How does that work? Does the broker eat the fees?

Some brokers agglomerate all their customers' buys and sells of the mutual fund and hold it all in one account. Then they keep track internally of which customers own pieces of that account. I reckon that Scottrade has so many Vanguard-using customers that Vanguard doesn't charge Scottrade any fees.
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