Vanguard

Why does Vanguard expect so little from the market? The culprit, not surprisingly, is high valuations, Nir Kaissar writes.

The investment manager is part of a $50 million fundraising round in the wealthtech startup

Not only are the portfolios similar, but performance is nearly identical, writes Bloomberg’s Aaron Brown.

The move follows a mandate last week from JPMorgan Chase CEO Jamie Dimon, seeking to return his workforce in rotations from early July.

Moves and news at Macquarie, Rockefeller, Vanguard, Orion, and elsewhere in the financial-advice industry this week.

The firm has been locked in a contest with runner-up Vanguard for flows, with the latter winning last year for the first time since 2013.

As a decades-long loyalist of Bogle’s ground-breaking firm for decades, Allan S. Roth worries it’s losing its edge in client support.

Here are the industry’s top 20, which brought in more than $700 billion in assets.

Over the past year, the lineup of stock and bond funds notched an average gain of more than 25%.

Scoring across nine quantitative and qualitative metrics, here’s how Backend Benchmarking ranks the industry’s digital advice providers.