As the competition between robo advisors and traditional firms becomes at times very personal, Vanguard is growing its digital financial advisory unit at an astounding rate -- all before its official launch.
Vanguard says assets in its Personal Advisor Services start up, still in the pilot phase with no paid advertising support, rose from $755 million in 2013 to $10.1 billion at the end of last year. Overall, the firm has 20 million clients with more than $3 trillion in U.S. fund AUM with approximately one-third of those assets from the advisor-sold channel.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access