New Vanguard CEO Mortimer “Tim” Buckley has unique challenges ahead in continuing to grow the world’s second-largest investment manager, writes Sarah Krouse for The Wall Street Journal.

When Buckley first started working for the investment giant 27 years ago, the firm already managed $77 billion from its 2,600-employee office in Malvern. At that time, Vanguard was still trying to expand through its unique ownership structure and low fees.

Today, the firm manages $5 trillion in assets and has 17,000 employees in 18 offices. It’s now the nation’s largest mutual fund and exchange-traded fund provider and the second-largest money manager in the world after BlackRock.

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Buckley, who took over the reins on Jan. 2, now has to find a way to continue to balance the advances in technology with Vanguard’s signature low fees.

But his first priority will be investing more in Vanguard’s financial-advisory business, which already has around $100 billion in assets since its launch three years ago. The most extensive part, however, is getting clients to sign up.

“Once that’s done, you can scale the business very well,” he said.

Read more about Tim Buckley in The Wall Street Journal here, and check out previous VISTA Today coverage of Vanguard here.

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