Vanguard Sees Growth In Personal Advisor Service

By

Vanguard

The Vanguard Group’s virtual investing platform is growing exponentially, and the firm is considering offering a version of it to financial advisers, an executive at the firm recently told Investment News.

While the pilot program, which partners investors with an advisor who works solely for their benefit, has not been officially offered to the general public, its assets reached $10.1 billion at the end of 2014, up from $755 million in 2013, according to the firm. Vanguard expects to release Vanguard Personal Advisor Services to the general public later this year.

Investment News says the program’s phenomenal growth sends a strong signal about the potential growth for technology that continues to gain backing from venture capitalists.

The Wall Street Journal also reports Vanguard is pushing hard into financial planning, and other financial services firms are also jumping into the fast-growing trend to deliver inexpensive financial advice online. Read the full story here.

 

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