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TIAA's Devotion to Investors Can Start With Fees
Its mutual funds deliver neither low costs nor market-beating returns.
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No other mutual fund company enjoys the Vanguard Group’s well-deserved reputation for looking after investors’ interests. But if anyone comes close, it’s the Teachers Insurance and Annuity Association, or TIAA.
The New York Times recently questioned TIAA’s “reputation as a selfless steward of its clients’ assets.” The Times cites a lawsuit and a whistle-blower complaint that accuses TIAA of pushing “customers into products that do not add value and may not be suitable but that generate higher fees.”