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Vanguard plans new advice and wealth management division


Published on 2024-12-09 12:00:49 - Reuters
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  • Money manager Vanguard said on Monday it will establish a new advice and wealth management division led by industry veteran Joanna Rotenberg.

Vanguard Group, one of the world's largest asset managers, announced on December 9, 2024, its plan to launch a new division focused on financial advice and wealth management. This strategic move aims to expand its service offerings beyond its traditional low-cost index funds and ETFs, targeting a broader range of clients including high-net-worth individuals. The new division will provide personalized financial planning, investment advice, and potentially estate planning services. This initiative reflects Vanguard's response to increasing competition in the wealth management sector and its commitment to enhancing client relationships by offering more comprehensive financial solutions. The company plans to leverage its existing client base and reputation for low fees to attract clients to this new service line, which is expected to roll out in phases starting in early 2025.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/vanguard-plans-new-advice-wealth-management-division-2024-12-09/ ]