re: $500k to invest. What does the MB recommend?

Vanguard was started by John Bogle who pioneered the low cost index fund. Some believe that a passive approach to investing is the way to go. His books make the case that trying to beat the market many times leads to underperforming the market. The low turnover rate of an index fund may be more tax efficient also. Also, Vanguard is set up more to be 'owned by its funds' so when you buy a vanguard fund, in a way you own a piece of vanguard. Not on expert on the set up, but it has a better chance of being truly a fiduciary for its customers. Fidelity, on the other hand, although an excellent option, ultimately is owned by the Johnson family for their benefit. When push come to shove, the owners of any enterprise will come first, not the customers, no matter how many framed sayings are hung in the office saying "the customer is always right". It may be the reason they offer the low cost Spartan funds is because of vanguard.