ETFs: Make sure you have all the right clubs in your bag

Can any investment adviser really continue to ignore exchange-traded funds (ETFs) as a core part of a client portfolio? The data suggests to do so would be like serving a traditional Sunday roast without any beef - or going for a round of golf without a putter. In the US over the past few years, there has been a wall of money moving from mutual funds to ETF's. What lies behind this? To put the topic into some context, let's start with a little history. In 1975, John C Bogle founded Vanguard, the first index-tracking business. A failed wealth management experience at Wellington Fund follo...