Vanguard

The move expands the manager’s commission-free platform, which has included all mutual funds since 1977 and all ETFs since 2010.

The custodian has made three big announcements. The connection between the three may not be obvious, but together, they indicate what I think could be a brilliant strategy.

The firm commission-free platform already included all Vanguard mutual funds and ETFs as well as thousands of third-party funds.

More than half of them track the industry’s top-performing category.

Despite the exodus, all of the mutual funds and ETFs on the list posted net gains for the year.

The $1.8 billion deal is expected to close in mid-2020.

The firm has the edge in “unaided awareness”— a crucial metric in understanding a firm’s significance to the lives of potential clients.

“There’s less performance chasing than you saw in the past, and that’s a positive thing,” an expert says.

To stand out from the crowd, some issuers have embraced thematic strategies focused on niche investments that could become the next boom industry.

The success of automated advice will depend on its ability to transform from a direct-to-client platform into a bionic advisor toolkit.