Perhaps because I just read a few books on the financial crisis in 2008-2009, it has made me uneasy. The average person never imagined that major financial institutions on Wall street would fail like Lehman Brothers, Merrill Lynch, fire sales and about 200 banks. Not to mention people (and institutions) who got wiped out by Bernie Madoff (which I can't imagine having ever invested in, in the first place).
I have no confidence in the financial institutions to remedy the problem for the future, since there were multiple alarm bells foreshadowing this event, and yet they still fought any kind of regulation or had any motivation to prevent it.
I can't imagine Vanguard ever having problems since they seem 100% quality business, but I've always been a person that believes, one of the basics in financial planning is that you should not have all your assets in one place.
If you agree, Which other institutions would you recommend that is on par to Vanguard? If you think I'm paranoid, I welcome your feedback also.