The Right Coast

Editor: Thomas A. Smith
University of San Diego
School of Law

Friday, September 20, 2019

Vanguard Bets on Robo-Only Adviser - WSJ

Indexing giant Vanguard Group plans to launch a robo-advisory service that cuts out human financial advisers completely.

Vanguard is pilot-testing the new platform, in a sign of how the world’s second-largest money manager is aiming to capture younger, tech-savvy investors.

Vanguard’s robo-advisory push would increase the competition with companies including Charles Schwab Corp. and Betterment LLC for the money and data of this younger demographic. The automatic service would target fees of 0.15%, or $15 for every $10,000 invested, a price that undercuts many rivals. The total cost is expected to be about $20 on every $10,000 for individual investors once investment fees on the Vanguard funds the service will use are factored in.

via www.wsj.com

https://rightcoast.typepad.com/rightcoast/2019/09/vanguard-bets-on-robo-only-adviser-wsj.html

| Permalink

Comments