To pick a nit, at least the last time I checked Vanguard does <i>not</i> get paid to use an internalizer but does so <i>anyway</i>.<p>&gt; Vanguard Brokerage Services does not receive compensation for directing order flow in equity securities.<p>From <a href="http:&#x2F;&#x2F;vrs.vista-one-solutions.com&#x2F;Disclosure&#x2F;disclosure.tar&#x2F;disclosure&#x2F;VANG_2016_1_links.html" rel="nofollow">http:&#x2F;&#x2F;vrs.vista-one-solutions.com&#x2F;Disclosure&#x2F;disclosure.tar...</a>